Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".
Do you guys think that this can change in the long term ?
Do you guys think that this can change in the long term ?
About 10 years ago, have you ever thought that there will be something called cryptocurrencies in which the people will invest heavily like they do at the moment? I guess the answer is "No". That is the unpredictable behavior of this industry and you can expect the unexpected in almost all the time. There is a higher probability that the cryptocurrencies to grow further and sometimes those may displace the fiat currencies from their current positions in the longer run.
I don't think that crypto currencies will displace or replace paper money in the future and this is insanely impossible to happen in reality. Why? Here I will tell some of the reasons why these virtual currencies won't replace fiat.
Money is important to every one of us and almost every people in the entire world needs money for survival. If all the currencies that we use are digital do you think that poor people will be able to use it? And if you think that crypto currencies will replace fiat in the future what will happen to those unfortunate people that have no access to the internet and doesn't have the ability to buy their own laptops or smartphones because this stuffs are the basic things that you'll need to use crypto currencies.
Crypto currencies are part of our evolving world and to be honest I really believe that these innovations will soon be massively adopted worldwide and majority of the countries will use this as an alternative to paper money but not replacing fiat.
