I am quite a noob here when it comes to understanding financial systems, but this kinda messes with my mind-
Wasn't the whole point of developing cryptocurrency was to replace the disastrous system of fiat? Then what would be the eventual point of people buying crypto, holding onto them until the next bull run (or a general price rise) and then selling them just to chase the underlying fiat?
Twitter keeps going crazy with predictions of Bitcoin hitting a $100,000 but what good would that actually bring if 90% of the people don't use crypto for 'general payments' as such.
How will we ever reach a stage of actual medium-large scale crypto adoption or a general transition from fiat to crytpo, if the main motive to deal with crypto for the majority is to 'get rich in fiat'?
Submitted August 10, 2020 at 08:02PM by a_jalan https://bit.ly/2DDOnN8
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