Cryptocurrencies can't be counterfeited!
That's their biggest advantage over fiat currencies. You can't counterfeit Bitcoin. You either have it or you don't.
Transfer is faster than with fiat!
When you transfer crypto, it usually takes seconds. Sometimes when there is network congestion it can take longer. But with fiat, transfer can last days (if you are transferring money during a weekend).
This is the new world order and it seems that the cryptocurrency would rule it. Because everyone started to understand the blockchain system and every new day usage is raising. And blockchain would rule it would be partner with the cryptos. I believe that the crypto money will replace with the paper money soon..
I wouldn't talk about the success on this.. I believe that the cryptocurrency could never replace the banking system. People around here love to speculate that crypto will be the death of banks. While I also hate banks and understand the sentiment, the fact is that crypto transactions cannot be reversed. This creates a huge problem as any mistake or typo leads to the immediate loss of all your money. People will never buy houses or cars or anything big with crypto, with that immense danger hanging over their head. The simple truth is that while decentralization is a cool technology, a centralised system is in this case vastly superior. No one will want to risk losing the family fortune or their lifetime's worth of work in 2 seconds because they misclicked. Unless crypto develops a solution for this, the banking system is gonna stay exactly where it is.
- A single word answer would be - Greed..!!!
- The entire acceptability of cryptos is based on speculation.
- Even though in project tokens the used coins are burned the value is still due to speculation
- if the business picks up a lot and tokens are required on a more regular basis the price pick up would solely be due to speculation only
- Govts. around the world are adopting the blockchain tech
- There are laws which are being formulated to regulate this currency space, as there is no way to ban it completely
Conclusion : The pickup in business is one factor in it's success and so is the regulatory framework but a major part will be the perceived value of the crypto in the market which will drive and contribute to it's longevity and success...
Basically once there is profit to be made.. greed will take over and as it always happens even with stocks.. the prices will rise and fall and again people and institutions will drive it's prices up and down as per their requirements...!!!
10 years left! Cryptocurrency is very much here to stay, said futurist and author Thomas Frey, noting that he’s speaking to the Federal Reserve in September on the topic. He predicts that the cryptocurrencies are going to displace roughly 25% of national currencies by 2030. They’re just much more efficient, the way they run.
It's just too perfect of a system to not work in the long run.
They can't be damaged. Also, I think they will succeed because almost everyone is talking about them nowadays including governments and financial institutions. That has got to mean something right?
Because of cases like what's happening in Venezuela where inflation is going wild. Prices are changing at grocery stores sometimes twice in the same day because inflation is happening so rapidly, and a great way to combat this is by having a world wide cryptocurrency accepted everywhere.
It don't be damaged. Also, I think they will succeed because almost everyone is talking about them nowadays including governments and financial institutions. That has got to mean something right?
They will go wild only if online fraud issue is solved out and limited number of coins , let say 100 coins only accepted by worldwide governments and all these coins must be enabled for trading physical products and services like train, airplane tickets and so on. Without all above said cryptos will be dead and probably soon