Topic: Living only on crypto: Possible in 2025? - page 2. (Read 264 times)

Why not? Everything is possible now with cryptocurrency. 16 years ago, people were laughing at the idea of decentralization and no-party transactions, but people are welcoming it now.
For this to happen, we should have a country to model it, and it will cause a domino effect, but expect resistance from the government. But if you ask me, I prefer coexistence because there will always be sectors or countries where its not possible for its people to live only on cryptocurrency.

There will come a time when fiat money and other traditional currencies will be replaced by cryptocurrency for purchasing products and services. This shift is driven by the decentralized nature of cryptocurrencies and the use of blockchain technology. While this change may not happen immediately it is approaching. The transition from traditional money to cryptocurrency is inevitable and will bring about significant advancements in the financial system.

Its too early to make that possible for many cryptocurrency users, in my country alone I have to convert my cryptocurrency to fiat to be able to pay my bills as cryptocurrency is not fully adopted in our country and you can hardly see any shops that offer cryptocurrency for payment and once the government see cryptocurrency as a threat they will restrict and regulate its usage, maybe ten years from now the scenario will be better but not this year.

You could live on crypto only via a technicality. You could pay all your bills & live using your Coinbase card. The reason I say via a technicality is because Coinbase card uses the crypto you have on your account & pays with a fiat conversion. Living fully on crypto would be tough though unless you are in El Salvador or something. It might be possible in San Salvador.

Aren't you afraid that to hundreds of governments issue money will added to the hundreds of commercial company that issue their own money? Won't all this turn into a huge bubble, backed by nothing? I think that being able to buy a Ferrari with Dogecoin is very cool and innovative, but won't it eventually lead to the devaluation of the institution of money as a universal equivalent for measuring the value of goods and a medium of exchange?

We are already seeing some merchants and services on which we can be able to make use of our crypto to serve as payment or simply without fiat involved but the main question here on this one is on how many will really be considering on spending up their precious coins into something if they could have done it with fiat? Yes, its really that cool that when it comes to utility then we can use up our own crypto holdings on which this is really that indeed great but we cant be able to deny that when it comes on using up our coins for the sake of payments on buying up something then it will really be just that a waste of opportunity of making profits. Pretty sure that most of us will really be thinking up about the profiting condition rather than on spending or in speaking about utility.

Adoption is really that moving forward and there's no doubt to that but people wont really be seeing this much for it to be used on day to day but rather ending up on having that store of value kind of consideration or approach on which we cant be able to blame everyone if this one will really be their own view towards it on which we would really be lying that we would really be trying out to deny this one into ourselves. 

Speaking about living with crypto then its possible as long you are making continous income with it but make it sure that your holdings wont really be on the same USD or fiat value all the time on which we know that prices could crash out anytime.

even though it will be amazing to see that coming to reality, it doesn't look like what is going to be very convenient for the larger population because adoption is still an issue and the rate of knowledgeable people that are comfortable enough to make use of it for such transaction is not all that much. with time when the rate of adoption must have increased and the commoners must have started making use of it for most of their needs, then we can see the possibility of it coming to fruition. 2025 doesn't look possible for crypto to go mainstream to that level except for those that are already in the system right from time and are familiar with the process  that makin use of it doesn't look like a big deal.

we're just waiting for regulation to become certain.

I think most of platform also would like to integrate crypto to their platform in a heartbeat if they know that it won't give them the burden of any legal related problem, the thing is, many countries still consider BTC as just commodity so there's no regulation about it being used as a currency, but I know some country already allow for crypto payment and so far it's been doing well.

if you see in popular platform specifically such as fiverr and udemy, there always some people who demand the platform to enable crypto payment, but the company don't have the guts or resources because this legality problem.
but if somehow BTC can get passed as strategic reserve, I think big fat chance there will be massive surge of crypto payment adoption.

one thing for sure, so many defi and exchange already providing debit card where they'd charge your crypto whenever you make a transaction, so actually you can already pay anything with crypto right now. even more so with coinbase pay and binance pay.

It's still too early for this. We're just beginning to move away from cash to credit/debit cards. Less new cash money is being printed now and governments are encouraging people to use credit/debit cards. The main reason for this is to prevent the informal economy. The idea of living solely on crypto currencies might only be a dream for now because there are many structural weaknesses in this area. Governments won't allow it and will fight against it. Maybe we can discuss this for 2035, but it's impossible in 2025.

As crypto becomes more mainstream, we'll be able to buy goods and/or services without the need to exchange for Fiat or use a debit/credit card. Imagine living entirely off crypto alone. It would be a dream come through.

I'm wondering if we're one step closer towards seeing this become a reality? Or is it too early to tell? With services like Bitrefill and eGifter selling gift cards for crypto, anything's possible. Heck, you can now purchase a Ferrari with Dogecoin. I mean, how cool is that?