Living only on crypto: Possible in 2025? - page 2.

Taskford

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Quote from: Abiky on January 03, 2025, 06:27:15 PM

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? Cheesy

Yes, crypto is also consider as money and there's lots of opportunities that we can grab especially if we are skilled enough to do those task what online clients required then its really possible for us to earn crypto to make a living thru service that we can provide to people who need so work force online.

Also I guess we are slowly going up there since we could see that lots of freelance job right now is paying your desired crypto's that's why we need to adapt on the changes and make sure that we have those skills which those clients want so that we can get a job that can give us good income to sustain our daily needs.

But huge chance that more to come with crypto. The future of this industry is promising and provably that we are heading on those things you mentioned here.

fikrett

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Quote from: nelson4lov on January 09, 2025, 03:13:16 AM

I like the sound of that but we're still not there yet. Mass adoption and crypto integration on almost all merchant stores remains the goal but we still have some technological overhead to defeat before we can have that achievement.

For one, Bitcoin and almost all altcoins haven't solved the increase in tx cost when demand skyrockets and demand is going to skyrocket for sure when every customer that buys anything, anywhere in the world triggers a transaction. We'll have 10-100x the tx volume we have right now and I don't think current infrastructure can handle it yet.

Bitcoin tx fees will go up.
ETH gas price will be through the roof and Sol?
Sol blockchain might halt as it has always done in peak periods.

SOL blockchain, though, would do better in that regard after the Firedancer would be implemented for good.
But I agree with other facts - sometimes, the congestion is too much, and you won't be able to use the crypto for everything. But you would be able to do it for some things.

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Quote from: Abiky on January 03, 2025, 06:27:15 PM

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? Cheesy

Nothing is impossible on crypto. It’s not early to say about crypto. We don’t need to exchange and the dream already came true on our life. The main fact is that most of the people who aren’t smart don’t able to use it tough is for them. If we all are used to use crypto then we will enter on the smart world totally. However i am totally now depend on crypto for my living. I am doing trading,investing, holding and gambling etc. It will be more effective if all found a way of earning crypto. It helps to depend o. Mostly then on crypto. We all have see how much potential the crypto market are. Now the next world will be on crypto. Then we can easily depend it for everything for our living. It's not so far.

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Full adoption still faces challenges. Not all merchants accept crypto and regulatory clarity is still evolving particularly in the US govrnments and financial institutions are taking steps to regulate the market but uncertainties around taxation, legal status and financial stability remain. Some people can live mostly in crypto in 2025, a fully crypto driven economy is still a few years away from becoming a reality

nelson4lov

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I like the sound of that but we're still not there yet. Mass adoption and crypto integration on almost all merchant stores remains the goal but we still have some technological overhead to defeat before we can have that achievement.

For one, Bitcoin and almost all altcoins haven't solved the increase in tx cost when demand skyrockets and demand is going to skyrocket for sure when every customer that buys anything, anywhere in the world triggers a transaction. We'll have 10-100x the tx volume we have right now and I don't think current infrastructure can handle it yet.

Bitcoin tx fees will go up.
ETH gas price will be through the roof and Sol?
Sol blockchain might halt as it has always done in peak periods.

LETme

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Living solely on cryptocurrency in 2025 is becoming increasingly possible, but it depends on several factors like location, financial planning, and the overall adoption of crypto. As crypto payment systems and blockchain technology evolve, more businesses accept digital currencies for goods and services, making daily transactions easier. However, challenges like market volatility, regulatory uncertainty, and limited crypto adoption in some areas may still pose obstacles.

Abiky

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Quote from: EFS on January 03, 2025, 06:42:56 PM

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.

Let's not forget that physical credit/debit card transactions are also in decline. Most people pay through an app using a virtual card on physical stores or online. And with governments planning on launching CBDCs, our lives will be more digital than ever. The problem with crypto is that many consider it to be an investment, rather than a currency or a medium of exchange. The rate of adoption among merchants and/or businesses is rather slow. I can pay for most stuff with crypto these days, but not everything (like utility bills, taxes, etc). Fiat is needed for government services, anyways.

I think with the incoming pro-crypto Trump administration in the US, things will improve. Who knows? Maybe we'll be able to live entirely off crypto within the not-so-distant future. If you have faith, anything's possible.

fikrett

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Quote from: bettercrypto on January 05, 2025, 08:45:45 AM

Quote from: Abiky on January 03, 2025, 06:27:15 PM

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? Cheesy

I think it is possible that what the op says will happen, but it just doesn't seem like it yet, because there are still many countries that don't believe in other cryptocurrencies except Bitcoin which is really proven and tested.

Maybe unless the country you are in is like El Salvador, what you are saying can happen, op, then there are other countries that at least have other merchants who accept bitcoin
payments in their business as far as I know.

Adoption is not there yet.
You can already buy big things with Bitcoin in many parts of the world - but you can't live and make all the things that a person does every day with crypto, in my opinion.

sunsilk

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Quote from: markm on January 05, 2025, 02:54:37 PM

Even if various Stellar wallets / interfaces don't directly let you say how much of what to send that you don't have, definitely some, such as FoxletStellar which I use, do let you say how much you want of what and see how many of each thing you already have it would take to get that, so at worst you could use that to get what the merchant wants then send what they want.

Wallets should be like that, you should know and see how much you have in balance and how much you'll be left when you're about to send. But with the mentioned wallet, I'm not really aware of that nor have I used it.

Thus, this feature should be the norm of most wallets. Users are wise nowadays and with lesser features or simple details that they lack of, they're not going to be patronized for sure.

And that's probably one of the reasons why these wallets, stellar or not, don't thrive.

markm

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Even if various Stellar wallets / interfaces don't directly let you say how much of what to send that you don't have, definitely some, such as FoxletStellar which I use, do let you say how much you want of what and see how many of each thing you already have it would take to get that, so at worst you could use that to get what the merchant wants then send what they want.

I cannot see my LOBSTR on phone at the moment as it is on a phone most of whose screen is blacked out by cracks but I do recall it has an ability to display a 2-D code of what you want, that a merchant for example coulde use, then customer's phone would look at that displayed code to create a send transaction to send it.

Just not sure if it includes the automatic conversion ability from things you have to what the merchant wants.

-MarkM-

sunsilk

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Quote from: markm on January 04, 2025, 03:24:30 PM

Quote from: sunsilk on January 04, 2025, 03:08:13 PM

But as for wallets in smartphones, we can use them as well if the shops and merchants accepts them directly.

I think Stellar is supposed to be able to do this as a built-in feature, though I am not sure offhand whether specific smartphone wallets such as for example LOBSTR have or have not provided access to that feature.

In theory you are supposed to be able to tell Stellar what asset the recipient wants to receive how much of and it shows you for each asset you have how many it would take to have that happen, so you can pick from your portfolio which you want to use to make the recipient receive what they want.

-MarkM-

I am not sure of that but I think there was a project that's all about pos (not proof of stake) payments before. It became popular and it comes with a yellow logo.

I can't remember what was that but it had gained traction for a season but then became forgotten up to this point. If Stellar was supposed to be this project to do it, that's good if it became to a point of potential.

But it didn't pushthrough, right? although that's still popular nowadays as a crypto itself.

doomloop

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Quote from: TastyChillySauce00 on January 04, 2025, 11:03:42 PM

Quote from: Adreman23 on January 04, 2025, 08:20:18 AM

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.

doubt that, government in general won't let their fiat be replaced, because then they can't control the economy, fiat is a good tool to control the economy, maybe traditional cash will be replaced by CBDC, but definitely not decentralized crypto, though crypto might be used as an alternative of payment, there's reason why many countries decide to recognize crypto as commodity only for investment because they don't want it to be used as currency. so in the future i think things will more or less stay like this.

Definitely governments are going to be not happy with this idea and mostly will never go ahead with this as well because things could be more flexible for the common peoples which are not suitable for them even in many countries we have such things which are now doing good and have better development in near future as well, but this could be huge problem for peoples those are not well aware and specially third world is not well prepare for this in long run.

We can go with this idea, but first we need to be had all requirements which give better use case with all material which are important while currently we have few things which are giving good advantage and this could be also go good with just few miner changes in the future.

bettercrypto

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Quote from: Abiky on January 03, 2025, 06:27:15 PM

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? Cheesy

I think it is possible that what the op says will happen, but it just doesn't seem like it yet, because there are still many countries that don't believe in other cryptocurrencies except Bitcoin which is really proven and tested.

Maybe unless the country you are in is like El Salvador, what you are saying can happen, op, then there are other countries that at least have other merchants who accept bitcoin
payments in their business as far as I know.

Dr.Bitcoin_Strange

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In my opinion, it's too early to believe this will come through, not in 2025. Crypto is going mainstream already and there are many countries that the citizens are spending crypto directly to purchase their daily needs but it's not generally acceptable yet by majority of people and that's why I think that we can not live only on crypto this year but hopefully in near future.

TastyChillySauce00

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Quote from: Adreman23 on January 04, 2025, 08:20:18 AM

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.

doubt that, government in general won't let their fiat be replaced, because then they can't control the economy, fiat is a good tool to control the economy, maybe traditional cash will be replaced by CBDC, but definitely not decentralized crypto, though crypto might be used as an alternative of payment, there's reason why many countries decide to recognize crypto as commodity only for investment because they don't want it to be used as currency. so in the future i think things will more or less stay like this.

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Quote from: Alone055 on January 04, 2025, 04:43:29 PM

In our country, banks are against cryptocurrencies. If any of the transactions that you do through your bank account are found to have any connection with cryptocurrencies, your account gets blocked and funds confiscated. They ask you for proof of funds, and if not satisfied, both your account and the money is gone for good.

This sucks and really happening. That's why many of the investors that have used their bank accounts to deposit fiat to their exchange accounts, they've been scrutinzed and investigated by their banks and asked what's the deal. One wrong answer and you'll get that if there will be some scrutiny and questioning but at most times, they don't ask the user and just land down the judgement of stopping the account because of the connection that has been with the use of their service going to a crypto exchange.

Alone055

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Regulatory complications and the non-acceptance of cryptocurrencies as legal assets in most countries won't let us reach that point too early. There are too many countries that are still completely against cryptocurrencies. If you are talking about some specific countries, then this might be possible in some countries already, but if we talk about the global acceptance of cryptocurrencies as payment methods, we are far from that yet.

Merchants and service providers will only feel confident in accepting cryptocurrencies as payment if the government of their country makes it legal to deal in cryptocurrencies. If a country either has banned them or has no laws about them yet, no merchant would be willing to do that because traditional financial institutions will create trouble for them because they won't let them operate their accounts if they find out about this.

In our country, banks are against cryptocurrencies. If any of the transactions that you do through your bank account are found to have any connection with cryptocurrencies, your account gets blocked and funds confiscated. They ask you for proof of funds, and if not satisfied, both your account and the money is gone for good.

Issa56

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Quote from: Abiky on January 03, 2025, 06:27:15 PM

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? Cheesy

I can't really wait for that time to come, but for now, it's just too early for that. Most countries are still banning crypto in their country. like in my country, the government didn't ban crypto directly, but the central bank has given all commercial banks orders to ban accounts related to crypto transactions, so crypto has been banned indirectly from the country, so it's just difficult to see any store accepting bitcoin as a payment method because they don't want their business to be compromised.

But with the way the government has tried to discourage the citizens from crypto, most youths in my country are accumulating bitcoin and other altcoins, and they are trading, but they are not just using it as a payment method yet, but all I know is that everything is time, a time will come when they won't have a choice but to free crypto, everyone will be able to do what they like with it.

We all know that the government is against bitcoin just because of their own selfish interest, they have no valid reason for rejecting bitcoin, so they won't later have a choice but to accept it.

markm

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Quote from: sunsilk on January 04, 2025, 03:08:13 PM

But as for wallets in smartphones, we can use them as well if the shops and merchants accepts them directly.

I think Stellar is supposed to be able to do this as a built-in feature, though I am not sure offhand whether specific smartphone wallets such as for example LOBSTR have or have not provided access to that feature.

In theory you are supposed to be able to tell Stellar what asset the recipient wants to receive how much of and it shows you for each asset you have how many it would take to have that happen, so you can pick from your portfolio which you want to use to make the recipient receive what they want.

-MarkM-

sunsilk

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Quote from: Abiky on January 03, 2025, 06:27:15 PM

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? Cheesy

We're going there. The exchanges have their debit cards as well for which if you've got some stable coins stacked, you'll be able to use it for purchasing things with that card.

IMO, it can be said that you're buying things directly with crypto if the balance you have in there is being used. Although it's not advisable to keep your money in exchanges, if it's for this purpose, you may want to just allot some budget on it for purchase purposes only.

But as for wallets in smartphones, we can use them as well if the shops and merchants accepts them directly.

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