Although there are a few countries who uses bitcoins and other cryptocurrencies now, I cannot help but wonder if the world is truly ready for this digital currency? It will certainly be hard to replace all currencies in the world but it could happen in a decade or so, perhaps even less? Still the question is, is the world ready? I think if this happens it might be one of the biggest changes that will happen worldwide.
I believe the world is ready for crypto, but governments and banks are not ready to lose their power and control. Sooner or later, they will become the outsiders in the financial system. They try to postpone it, but the global acceptance of the cryptocurrency is inevitable.
I think the world is ready for big changes. We live in time of technological development and definitely learned to adapt to changes and innovations. Surely, Bitcoin acceptance would be one of the largest events, but I think many people will concur that this is what we're all waiting for.
I use to be enthusiastic like you, but
I see less and less of practical use for cryptos, with speed and scalability as
main technical issues, while on the other side regulative laws are not trivial to enforce and implement.
I think that fiats won’t be replaced, at least not in a decade. There are several issues for cryptos to solve in order to become massively adopted. Crypto infrastructure requires a lot of time and efforts to be built. Coins are still not so easy to use. Not many people want to use a product on its half-way of development. The use of cryptocurrencies must be simplified with the comprehensive interface.
Short answer: No, but…
Long answer: Yes, if…
The world will have ‘crypto’ and blockchain mass adoption when people don’t know they’re using it.
Its still currently too complicated to buy and use crypto as an alternative to fiat or electronic currency. That WILL change, just not yet.
In my opinion, yes, the world is ready to welcome crypto, as there many countries starting to accept them
I don’t know if the goal is to replace existing currencies, I think the goal is for everyone to have access to money and resources. If we go completely digital while keeping the flow of money that’s already circulating around we can actual save the environment and solve the poverty problem in the world.
I think the world is ready for the changes. But cryptocurrency won’t replace fiat money, at least not in near future. But blockchain technologies should be widely used in other spheres: medicine, education and science.
As far as I know crypto market isn’t going well so far. But before 1 year it has huge demand. Hope in the future it will rise again.
Since the question was asked in late September 2018, the answer might be moving from a no to yet but it a very slow way.
There was a lot of media attention during the bitcoin boom to USD20k but it did not really translate into adoption.
It will still take time but eventually there should be some integration and harmony between FIAT and cryptocurrency.
Just as how people don’t use cash as much in Australia and pay most payments by card, cash is still used nevertheless but to a lesser extent.