The future of cryptocurrency. - page 5.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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, 03:41:21 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.

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Quote from: Volimack on February 24, 2024, 03:26:23 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.

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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.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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.

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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.

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Quote from: Kelward on February 23, 2024, 01:33:46 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.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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.

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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.

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Quote from: Mate2237 on February 23, 2024, 12:05:16 PM

Quote from: FatFork on February 23, 2024, 05:44:22 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.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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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Quote from: letteredhub on February 23, 2024, 03:41:21 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?

The popularity of cryptocurrency is increasing day by day and if it continues to increase day by day then surely in our next day cryptocurrency will bring many benefits to every human being. Although different countries have given a lot of positive news about cryptocurrency, there are still some countries that do not know what cryptocurrency is. But after 20 years I think cryptocurrencies will gain a lot of popularity. For which we can never imagine.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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?

Cryptos are the future. Yes if it run on decentralised network like Bitcoin is working, then I am sure more people will adopt to it. All people like to manage their finances independently. Hence they will love to keep their money in the form of cryptocurrency. Moreover everything is moving to online, hence people will show more interest in investing in cryptos. Lot many people will also invest, as they are seeing too many profits coming from the crypto coins.

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Quote from: FatFork on February 23, 2024, 05:44:22 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.

Quote from: FatFork on February 23, 2024, 05:44:22 AM

We'd probably see way more user-friendly apps, more stores accepting different cryptos as payment and just overall wider adoption.

That is true, apps that can make things easy for all will be created.

Quote from: FatFork on February 23, 2024, 05:44:22 AM

As for totally replacing regular fiat money? Hmm I'm not sure and crypto obviously has some good things going for it - transparency, security, and all that. But fiat currencies like the dollar have a ton of infrastructure and government support behind them. I'd guess they'll probably coexist filling different needs for people. Kinda like how cash and credit cards do now - both have their place.

As I said fiat currency with cryptocurrency will work together side by side and the easiest way they can do is to convert your cryptocurrency to your fiat currency instantly without selling to a vendor. At this stage to use cryptocurrency will be very much interesting. And I believe that time is coming in the future, so this is the best time to know cryptocurrency so that when the time come comes, they will not be novice in the ecosystem.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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?

Crypto are already in the process of mass adoption as a service, but I think we still need a few more cycles for them to be used as currencies. Although in some countries the crypto version of our fiat currencies is in use especially in those places where inflation is out of control, for government level adoption, i think we need more time to educate society about the usefulness of blockchain technology and why it is important. This is a slow process but it seems inevitable.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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?

Honestly, I'm not a prophet to talk about the future too easily, but I can speculate that it may be very good and/or will not exist. We can find countless reasons why things will happen as desired, but more realistically, the story is too farfetched, like what will you think about your life 20 years from now? This is your own story, and you can't be sure, so don't be too confident or argue with external things that it will work according to your thoughts.

I also very much support and hope for the development of bitcoin, but it's nothing

. Like a child who loves a piece of candy, it cannot help make that candy manufacturing business strong or fall, but also agree that the power of the crowd can change, and as mentioned before, there is also no guarantee it will receive more support/or more opposition, returning to the present that today I still see 1 bitcoin = 1 bitcoin.

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Even though we don't know for sure what the future of crypto will be like and whether we will still be in this world in the next 20 years, I think the future can be said to be very promising.
Because technology in crypto is increasingly developing and continues to be popular and of course this will continue to develop following technological developments, and problems that we don't yet know about and existing shortcomings will be resolved as time goes by. And maybe in the future many people will use crypto transactions because of their convenience and speed and make it easier to overcome fiat shortcomings and perfect them.

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Quote from: letteredhub on February 23, 2024, 03:41:21 AM

where do you all see the future of cryptocurrency in the next 20years or more from now.

Let me quickly tell you the truth. Cryptocurrency is the future. There is no limit to which the digital form of money can reach. If we look at how far it has gone within these years, we should be able to understand that in the next 20 years, it will be truly accepted by government agencies globally. All country will adopt this new technology since there will be a time where we cant do without it.

Quote from: tsaroz on February 23, 2024, 09:00:21 AM

Quote from: letteredhub on February 23, 2024, 03:41:21 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 how the current crypto adoption and technology is maturing, I believe most of the financial transactions in the next 20 years would be carried out with crypto. With stable coins and other coins being able to transact easily at fraction of cents, people would be sending and receiving anything with value and get the stable or coin they want through bridging. The only obstacle are some autocratic governments but with the support of people, they would either need to embrace crypto or create a closed society for themselves like north korea.

If the government is too proud to embrace it before the next 2 decades, they might just end up pegging their local currency to the digital currency. It could be their local currency, but in digital form. No paper money might exist.

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Quote from: btc78 on February 23, 2024, 06:46:34 AM

It is hard to tell what will happen especially in a specific time period. Even people from before thought we would have flying cars by now. However I do see that development is constantly happening in our world. It is not only constant but it is also fast changing. Web3 is already such a step ahead in terms of development and who is to say that cryptocurrency would not be out future?

Even Fiat money is now put in digital wallets because it is more convenient. I believe that cryptocurrency will also be used by a lot of people for convenience. Along with privacy of course. I know that cryptocurrency will stay and will be used by vast majority of people. It all depends on how each government will react to cryptocurrency. Will they embrace or stand against evolution?

I also think in this direction. Cryptocurrencies should occupy their niche, similar to electronic money, convenient for payments on the Internet. Payment for subscriptions and other electronic goods. But I see such prospects only for stablecoins. Let me give you a simple example: in your country, crypto is being legalized and local stores are starting to accept payments in ETH; a roll of toilet paper costs 0.0004 ETH, but today the cost of ETH is $2500, and tomorrow it is $3000. That is, as long as we are tied to some kind of fiat currency (because any product needs to be produced and delivered), we will not be able to truly freely use cryptocurrency.

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Quote from: letteredhub on February 23, 2024, 03:41:21 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 how the current crypto adoption and technology is maturing, I believe most of the financial transactions in the next 20 years would be carried out with crypto. With stable coins and other coins being able to transact easily at fraction of cents, people would be sending and receiving anything with value and get the stable or coin they want through bridging. The only obstacle are some autocratic governments but with the support of people, they would either need to embrace crypto or create a closed society for themselves like north korea.

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