The future of cryptocurrency. - page 4.

Makus

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

It obvious that cryptocurrency is growing day by day, and we have more person beginning to learn and adopt a coin. But I can't say for sure that crypto would be more traded than fiat currencies in the next couple of years because, most Civilization has refused to adopt crypto and 90% of the time, it's the government who has compelled its citizens to keep off crypto trade or any activity in regards to cryptocurrency. And if a citizen tries to go against the will of the government it could lead to punishments like blocking of your banking service.

AnonBitCoiner

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We don't know that will there be any use of crypto or not because it depends on the utilities, success and acceptance from the people. The more people are moving towards crypto more it will become successful. 20 years are still very far and here we don't know even about a second so how we can predict the future of crypto but still it is clear that if it remains successful then people will adopt it more.

Fiat has its own place and value so I don't think that cryptocurrency transaction can be more than fiat or will be replace fiat but it may be possible that in the countries where it is banned will unbanned crypto if its uses become acceptable all over the world.

AVE5

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Crytop Will go a very wider spread within this margin but wouldn't be so easy to supersede the fiats within such range of time. That is if really it would in times ahead. There are lot of countries that are biased with crytop currencies considering that it is a decentralized and a self-custodial currency which the governments authorities can't take control of. So if eventually crytop currency in transactions tends to have dominion over the fiats at where the government especially the authorities are not benefiting from the technology system, they would surely put a hold to it either a ban, suspends or have it a permission condition before further crytop transactions can proceed exceedingly in that country.
Otherwise, it would be challenging for crypto transactions to even challenge the fiats in exchange of transactions because there are more of fiats literates than crytop literates which personally the world can't force in everyone like they are going back to school just to study about the crpto currencies.

JayTrain

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I believe that cryptocurrency has the potential to become widely used in the financial sector and even penetrate into other areas of life. However, regulation remains a key obstacle. Until clear legislation is established, many will remain cautious. But with increasing understanding and development of infrastructure, cryptocurrency could change our interaction with finances and other spheres.

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

Seeing the technological advancements and innovations around the globe, it's pretty evident that the world is moving towards complete digitalization, however, we can't be sure what role cryptocurrencies will play in that era because governments and central authorities in most parts of the world are in no way ready to welcome cryptocurrencies to be a part of the economy and allow their users to freely buy, sell, store, or use cryptocurrencies in their daily lives.
It's not just about adoption when it comes to this matter, cryptocurrencies can't be used for transactions just because people adopt them or like them, they can only be used for such things if those in power allow it to happen and that is barely going to happen easily. Things might change after a couple of decades, but some things might stay the same.

NNRR

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In fact, no one can say for sure what position cryptocurrency will be in 20 years from today, but the way it is developing or the way people are showing interest in this cryptocurrency, maybe in the future every person in the world will become very dependent on this cryptocurrency because someday it will be seen that in the world Cryptocurrency is being used as the main currency

legiteum

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Quote from: letteredhub on February 24, 2024, 10:46:27 AM

The huge challenge with cryptocurrency is the government, [...]

What government are you talking about? In my country (USA), Bitcoin is 100% legal to hold, transact, buy and sell. That's also the case in almost every other major country. Even in China you can buy and sell Bitcoin as an individual, you just can't hold it if you are a bank.

The huge challenge with cryptocurrency is technical limitations that make it impractical to use in a mainstream way.

|MINER|

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The use of cryptocurrency is increasing day by day and its demand is also increasing. No one can say for certain what will happen in the future, but it is expected that it will bring many positive changes and increase its use in most countries of the world. Its value is expected to increase further. People will be more interested in investing in cryptocurrencies. It is expected that the price of Ethereum will also increase a lot. Those who are investing now can expect to get the desired results after 20 years. But nothing can be said for sure. Because none of us know what is going to happen in the future.

letteredhub

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Quote from: Churchillvv on February 23, 2024, 06:46:30 PM

Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

Basically, it would be predicted that cryptocurrencies will take good percentage of day to day transactions in the society but from my perspective and in the interval which you specifically mention I can't really tell what will be the out come.

From the efforts the governments are puting to regulate the crypto space I wouldn't be confident enough to predict what will be the nearest out come in 20yrs. although it maybe that the future generations will be mostly be part of cryptocurrencies but in this current generation the government are trying to put Bitcoin and the rest of the coins that are mostly decentralized in to extension that people will not longer be able to do transactions freely around the world but I'm also very optimistic about Bitcoin and I believe it's going to prove the centralized authorities wrong.

The huge challenge with cryptocurrency is the government, they just want to control everything even to our bedrooms which is very crazy. They overlook the advantages that cryptocurrency posseses only concentrating on the regulatory and centralized power they are denied of by the digital currency otherwise 20years from now ought to be feasible for crypto investors to be with certainty that cryptocurrency would have by then penetrated and sink into all financial levels doing business in the society.

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

I think it will take a long time until the amount of financial transactions in crypto outweigh the vast amount that there is worldwide in traditional fiat currencies. In 20 years I think we can easily predict that the use of crypto will be a lot more widespread than it is currently. We are all still early so let’s take advantage of that & hodl until we have generational money.

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

I think at least online shopping especially from broader country will be start in cryptocurrency. 10 years ago ,no very fews people knows the usecase of btc and now everyone preferred to use crypto over fiat in buying online package. The youtubers and influencers who were spamming about crypto scam due to less knowledge now taking support of crypto to increase their fans. The trend is real and everyday crypto transaction hits new record. Many people in my country working jobs in the broader country. When they send payment through any service,they have to pay high tax fee , The other option is to send through any relatives and friends but it's not safe and also cannot send in emergency. Crypto payment is fast, secure and could be recieved anytime. The more people familiar with Internet, large number of people will use crypto for transaction and I hope in 20 years everyone will use crypto for daily transaction, at least one time in day.

legiteum

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Quote from: Volimack on February 24, 2024, 04:26:23 AM

Most countries have not clearly defined the legality of bitcoin preferring to take a wait-and-see approach. Crypto transactions will be easier for countries that have implicitly agreed to the legal use of bitcoin by overseeing some regulators. It will be more popular than fiat because the individual will be able to complete the work as he wishes without any controlling agency. As time goes by the demand of crypto will increase and the future of crypto is very bright.

Crypto is 100% legal in the US and in most countries.

The problem is not legal, it's technical. Something that takes 30 minutes to complete one transaction will never EVER be a mainstream transaction platform.

Volimack

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Most countries have not clearly defined the legality of bitcoin preferring to take a wait-and-see approach. Crypto transactions will be easier for countries that have implicitly agreed to the legal use of bitcoin by overseeing some regulators. It will be more popular than fiat because the individual will be able to complete the work as he wishes without any controlling agency. As time goes by the demand of crypto will increase and the future of crypto is very bright.

Churchillvv

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

Basically, it would be predicted that cryptocurrencies will take good percentage of day to day transactions in the society but from my perspective and in the interval which you specifically mention I can't really tell what will be the out come.

From the efforts the governments are puting to regulate the crypto space I wouldn't be confident enough to predict what will be the nearest out come in 20yrs. although it maybe that the future generations will be mostly be part of cryptocurrencies but in this current generation the government are trying to put Bitcoin and the rest of the coins that are mostly decentralized in to extension that people will not longer be able to do transactions freely around the world but I'm also very optimistic about Bitcoin and I believe it's going to prove the centralized authorities wrong.

ajiz138

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Depending on the adoption of the country, if for example in the next 20 years many countries start accepting cryptocurrency, more transactions will be used in crypto than fiat because of the ease of doing it, but it is still difficult if all cryptos will be adopted except bitcoin as one of them.

So cryptocurrencies will still continue to increase from year to year especially in the next two decades, of course the changes in the banking system will definitely change but we never know what happens later, but I am sure where crypto will develop even more rapidly.

legiteum

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Quote from: Kelward on February 23, 2024, 02:33:46 PM

I doubt that we can achieve a total cryptocurrency dominance over fiat currencies in the world by the next twenty years, this is because fiat currencies are the symbols and identities of countries and the whole nations of the world will want their legal tender to be their main transaction currency. This can mainly be possible if the whole countries of the world or atleast the superpowers decides to adopt one world currency and decides that it'll be a digital currency, then it can be Bitcoin. Probably in the next 100 years or above, maybe people will become tired of centralized currency, and they might advocate for crypto currency to take over from fiat.

I don't share you pessimism for digital currencies generally, but only for centralized blockchain-based cryptocurrencies.

The reason Bitcoin hasn't taken over traditional currencies is not because of some worldwide government plot, not because people don't know about it, and not because there hasn't been billions of dollars poured on the problem.

Cryptos haven't taken off as a mainstream form of payment because they simply can't do it on a technical level. Bitcoin transactions can cost 30 US dollars and take 30 minutes. Other less-centralized approaches have cut that time and cost down, but it's still nowhere near where it needs to be to handle daily worldwide transaction volume, e.g. millions of transactions per second and tens of billions per day.

That's the bad news. The good news is that if you drop the "blockchain religion" and just create a centralized digital currency paradigm that is easier for end-users and will scale up to mainstream volume, you could truly envision it taking over and non-digital money being a thing of the past--and this will happen in just a few years, not decades.

Kelward

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

I doubt that we can achieve a total cryptocurrency dominance over fiat currencies in the world by the next twenty years, this is because fiat currencies are the symbols and identities of countries and the whole nations of the world will want their legal tender to be their main transaction currency. This can mainly be possible if the whole countries of the world or atleast the superpowers decides to adopt one world currency and decides that it'll be a digital currency, then it can be Bitcoin. Probably in the next 100 years or above, maybe people will become tired of centralized currency, and they might advocate for crypto currency to take over from fiat.

snowpega

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The new generation is adopting these trends which include online marketing, Cryptocurrency, and so on, and the new generation is influencing these earning trends to the elder generation as well like I have seen some cases like that where the son is doing work in cryptocurrency and he is advising his father to come in the field of cryptocurrency so in this way the adoption of cryptocurrency is increasing day after day.

Along with it, there is not degree required to come and enter in this field and start earning money. You just need to have good knowledge which includes Good Technical analysis and Fundamental analysis. In the space of cryptocurrency knowledge is the power like more knowledge you have more you can earn here besides that more knowledge you have always be counted as less which means you are always in the learning phase in the crypto space because of the unpredictable market sentiments. You are your own boss here because you are earning alone under no organization, company, institution. So, in short the future of crypto space may bright in the coming future other than that wait for this moment where we all can see this moments of crypto industry.

letteredhub

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Quote from: Mate2237 on February 23, 2024, 01:05:16 PM

Quote from: FatFork on February 23, 2024, 06:44:22 AM

can you imagine if your grandma could easily buy her groceries with bitcoin? That would be wild.

That is the last stage of cryptocurrency in which everyone is waiting for. Once cryptocurrency is accepted by the market women then the financial revolution will be resolved at once. But it will be hard for our grandmas to use cryptocurrency unless they will have someone behind to assist them. So fiat will still be use side by side with cryptocurrency because not the Grandmas and Grandpas.

I don't worry about the very elderly not been able to make use of cryptocurrency as it's very possible they can learn as there's no much of a difficulty in the process, they can through the idea of fiat transactions they have been used to find it easy to make use of crypto. Where the worry should be coming from is in the aspect of transaction fees assuming where I want to spend a dollar to buy a grocery what could the transaction fee for it be using crypto.

Dr. Strange

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Quote from: letteredhub on February 23, 2024, 04:41:21 AM

Just looking at the wave of cryptocurrency and going with the rate of adoption, where do you all see the future of cryptocurrency in the next 20years or more from now. Are transactions going to be more of in cryptocurrency than fiat in all ramifications of society as it concerns finance?

If you notice nowadays most of the electronic money is done because it includes blockchain and very easily many big companies transact through it more secure. If you look at this or that direction, you can understand how much influence cryptocurrencies can have after the next 20 years. I can say that in the future more people will be using cryptocurrencies than they are now.

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