Ninjastic
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Board Bitcoin Discussion
Re: What has changed? Is it moving forward?
by
denzkilim
on 23/02/2019, 12:57:47 UTC
Quote from: cryptomous on January 15, 2019, 12:59:59 PM
Hi All,

I have been in cryptocurrency since 2014 but last 3 years I took a break from it. I had high hopes how it can change the financial world.

I would like to get back into it but first I would like to find out what is cryptocurrency today.

Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

Please help me catch up a little Smiley




LOL, there is no way Crypto Currency will replace fiat because of a lot of factors to consider and it will never ever happen even in the future.

Quote from: Naughty Princess on February 19, 2019, 08:50:18 PM
Quote from: HODL2090 on January 15, 2019, 04:28:39 PM
Quote from: cryptomous on January 15, 2019, 12:59:59 PM
Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

It has not changed much in over the four years you were away. The adoption has increased and also attention from government and external industries.
Bitcoin is not slowly replacing fiat, I do not think it is meant to replace fiat currencies.
It is an alternative currency
Moreover, crypto transaction is faster than before. The adoption of crypto is faster and then the price gets lower but still it is popular in the market. It is an alternative currency which will not replace even fiat. For now with the price, it is an investment to everyone which hopes to gain when the price gain a recovery.
The transactions are faster because there is no congestion unlike what happened way back in the year 2017 where the hype is too much and a lot of people are diving into Crypto Currency with the sole intention to multiply their money in a very fast way without knowing what kind of industry this is. If there will be hyping again just like that year it will surely make the transactions slow again because of the number of people that will use Bitcoin and there will be network traffic again. We are experiencing fast transactions right now because there are only a few people using Bitcoin and expect another slow movement of a transaction when the bullish market season comes in.