Cryptocurrency was invented to not use as a investment or to do trading but to use them instead of fiat money. Due to the increase in its popularity the price of bitcoin and other crypto's grew over time and its too high and due to its high volatile nature it was used for trading and investment and very few people use them for transactions between them. This must be changed and it should be used in normal places.
In most of the areas in the world cryptocurrencies are not yet been known and people must learn how cryptos are working and we must create awareness among the common people. If these are done, they will be known by most people and we can start using them in common places.
Foremost the coin must be stabilized in the price and it must not be volatile. For these to become it would take atleast 5 years from now and it may be around 2025 for them to be used in common places.
Topic: When do you expect cryptos to be as convenient to use as FIAT? (Read 50 times)
February 26, 2018, 08:37:17 AM
How many years do you think it will take before people can go to most coffee shops / bars / restaurants and pay with crypto?
I myself dont expect to see this before 2025-2030. Just like with Graphene, the current level of real world usage for the blockchain is very similar to that of graphene - "Graphene can do just about anything except leave the lab".
Graphene and blockchain tech can do a lot of wonderful things - both are wonder technologies with extremely high-potential applications. However, the challenges are also there. First, you have to come up with a way to use these properties for beneficial applications. Then, you have to scale fast enough and for a low cost, which so far hasn't been the case for either.
I myself dont expect to see this before 2025-2030. Just like with Graphene, the current level of real world usage for the blockchain is very similar to that of graphene - "Graphene can do just about anything except leave the lab".
Graphene and blockchain tech can do a lot of wonderful things - both are wonder technologies with extremely high-potential applications. However, the challenges are also there. First, you have to come up with a way to use these properties for beneficial applications. Then, you have to scale fast enough and for a low cost, which so far hasn't been the case for either.
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