Can you realisticlly imagine a day where Crypto has overtaken fiat in usage?

in #cryptocurrency6 years ago (edited)

View this answer on Musing.io

Crypto usage is definately increasing. As more and more dApps are built and cryptos are included in transactions crypto would become popular. However, there is one reason that crypto currencies can never overtake fiats is because there is a speculative value associated to crypto currencies and there is a possibility of small group dominating them, whereas Fiat on the other hand is under the control of rulers of the country and is centralized currency. There are well established regulations to control. Though we can earn cryptos finally to spend them you have to convert it to fiat

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There is starting to appear ways to spend your crypto earnings without needing to change to fiat. Have a look at www.travelbybit.com as an example. I think these kind of services will grow over time.

I think the decline from all time high's in valuation, and the recent stability in prices is a sign that a lot of the volatility has left the market. I feel the best way forward for crypto is to become part of the existing system - as much as that is betraying the roots of the anti-establishment, decentralisation aims of early crypto.

Thanks for your response.