Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.
We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?
I'm wondering what your opinion is about this.
I think in some time people will trust in crypto. The digital money systems are developing fast, and decentralisation along with blockchain mechanism is the new step in digital banking. The question is will there be crypto-based fiats, or will crypto replace fiats... Also, the world's main fiat currencies inflation is something possible to happen soon, then crypto can be useful.
Soon enough, that will happen. I don't think that fiat will remain as it is in the future because considering the annual increase of inflations, it will open the eyes of the people who took a blind eye because of their trust towards government and for others as well who don't know yet the reality that they are facing as using fiats has been their life for decades already. As of now, everything is still on the process and cryptocurrency is not yet that known in the whole globe, but time will come that it will be used by many.
The question is will there be crypto-based fiats, or will crypto replace fiats
Maybe but I doubt that the latter will happen as crypto, and fiats are different and have their own utility.
And overall it will just go back to the main subject of this topic about trusting the current currency we are using right now. Since what we have observed failed to do so, it will only end up something wjll replace fiats, although for sure right now there is no guarantee that bitcoin and other cryptocurrency could be the ones replacing it, as what we can see about the advancement of technology right now, it is positive that either one of them or there will be new with better ecosystem or overall has the improvements we lacked as of today will somehow replace the inflation filled fiats.