In a world where cryptocurrencies are gaining more and more ground, where blockchain is increasingly used as a tool to achieve security at all levels of human endeavor, people may be wondering: What makes cryptocurrencies so attractive?
The million dollar question
Many wonder why cryptocurrencies are so attractive? why do they grow so much in use? And it is normal for many people to ask these and many other questions about it; especially if we consider the current price scenario for both Bitcoin and cryptocurrencies in general...
Due it is no secret to anyone that Bitcoin and altcoins are having a difficult year 2022 in terms of price level; And yet, we see how people are still interested in the crypto field, we see how people use cryptocurrencies, buy and sell cryptocurrencies and nobody wonders if they will recover their value or not at some point, but when...
People who use cryptocurrencies understand the intrinsic value of it
The reason that trust in Bitcoin and cryptocurrencies in general still prevails (and will prevail) is because those of us who use them understand the intrinsic value of use that they have.
We understand the great advantages that cryptocurrencies imply over conventional fiat money, therefore, we use cryptocurrencies as a means of payment, as exchange value and as our particular currency. So our choice to own and use cryptocurrencies is a conscious one, simply because we prefer cryptocurrencies over fiat money.
Those of us who use cryptocurrencies understand that we are safe from the financial system and conventional banking system; we understand that no one will (and will not) ever limit our funds, therefore we are safe from interference from governments and individuals, because the only thing that determines the amount of crypto funds we can transfer or pay is the amount of crypto funds that we have in our Wallets.
Will fiat money disappear?
Perhaps not, but what will most likely happen is that in a few years it will fall into a level of disuse such that seeing physical money (fiat money) will be a real rarity.
In this sense, the banks will not disappear, but they will be transformed in such a way that they will promote (through juicy interests) that the people who manage cryptocurrencies deposit them in them. Many will use them, but in general, most people will prefer to keep their crypto funds safe, free from the knowledge of governments and institutions and will only use banks as one more alternative to exchanges to convert small amounts of their crypto funds in conventional money.
So fiat money and banks won't go away with crypto
At least that is unlikely to happen in this century; due what we have to be clear about is that cryptocurrencies and exchanges will coexist alongside fiat money and conventional banks.
But with cryptocurrencies we will always have freedom of action, freedom to decide what we can or cannot do with our money, without the intervention of intruders or third parties.
Therefore, fiat money will be decreasing in use, while cryptocurrencies will be increasingly in use. And there will come a point in cryptocurrencies that will have so much use around the world, that many will wonder why fiat money still exists.
When that happens, governments will already have assumed that no matter how hard they try, they cannot control or limit anyone's cryptographic funds, and this will be something truly historic; because it will be a total break with the old paradigms and the conventional status quo.
Definitely, fiat money will be replaced by cryptocurrencies, but not totally and definitively, that is, it will not be something that happens officially, but at the level of the facts, because by then, cryptocurrencies will be preferred by everyone, although the fiat money will continue to exist and be used to some extent.
This is the truth.
Please, comment your opinions on the subject discussed. There they are read!!
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