As much as cryptos are gaining popularity and are getting adopted more and more, I think they are still have a long way to go. As for completely replacing the old financial systems, I don't think so. There are many factors that will hinder that. Like governments not being willing to fully adopt the crypto system. And even some people would rather deal with hard cold cash than take part in crypto.
The probability is high especially with some being rare. But i believe that if it becomes a threat to traditional systems, sanctions will be made.
I mean… cryptocurrencies already like distort the monetary policies of central banks. So maybe not take-over, but it would certainly distort Monterey policies globally.
Not any time soon even then as it grows more popular they'll coexist side by side not necessarily overtaking traditional sytems. Traditional systems are still going to be around for a very long while.
I don't think so. Crypto needs a lot of knowledge and research for people to get into ir get started. Considering there are people and countries who still prefer cash or something more reliable, they will choose traditional financial systems over something unreliable as Crypto. A fraction of the world will be very into Crypto while one won't, this kind of scenario is more likely
I think crypto could become more mainstream, but traditional systems are so deeply rooted that they’ll probably co-exist for a long time. Both have their pros and cons.
Cryptocurrencies overtaking traditional finance? Maybe in a sci-fi movie. Too many crashes and scams for it to be stable. I'll stick to banks, thanks.
I get why people are excited about crypto, but in near future I don’t see it replacing the traditional system. Banks, Financial Institutions and cash have been around for so long, and a lot of people still feel safer using them, especially with all these scams and pump & dump schemes going in crypto. I think both will just exist side by side for a long time but crypto ain't got anything on financial institutions.
Crypto will never overtake fiat currencies at least not in this lifetime. Their instability is a huge red flag
