The thing is that while people keep being paid in fiat for their goods and services, then exchanges are very important for Bitcoin.
When people transition to getting paid in Bitcoin directly, then exchanges will fade away because there would be no real need for them.
The reality is that many people are just "betting" on Bitcoin, so they want to maximize their fiat by "buying low and selling high". That's not going to affect Bitcoin in the long term, it just creates noise in the short term.
When people transition to getting paid in Bitcoin directly, then exchanges will fade away because there would be no real need for them.
The reality is that many people are just "betting" on Bitcoin, so they want to maximize their fiat by "buying low and selling high". That's not going to affect Bitcoin in the long term, it just creates noise in the short term.
Exactly. That's the problem. Fiat is still the standard unit of account, while BTC is viewed by many as a means for profit. If people started using Bitcoin as a currency, things would've changed by now. But that will never happen in a world where banks and governments rule the mainstream economy. Considering that most jobs are paid in Fiat, exchanges will continue to be relevant in the crypto/Blockchain space. Anything good or bad related to a crypto exchange will quickly move the crypto market. It'll be up to you to decide whenever you'd want to buy more coins and "hodl", or sell them all for a profit.
What matters is that crypto stays decentralized so it could stand the test of time. We already have decentralized exchanges, atomic swaps and even P2P trading platforms, as alternatives to existing CEXs. If CEXs fail, we can still trade our crypto in a breeze. Who knows how the future will shape the entire crypto/Blockchain industry? Just my opinion
