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RE: Why Blockchain & Cryptocurrency Is The Future Of Money
I think so too, I don't understand why people assume this thing is going to take over immediately, it will be gradual process as we ease people into this new concept of money and before you know it, no one will remember what it was like before blockchain, it will be second nature, it will be intuitive and it will feel as natural as the current system does to people
Cryptocurrencies were never meant to be substitute for FIAT transactions.
They were always meant to be supplement for FIAT transactions, with no central control and certain level of anonymity.
Blockchain in any form is insufficient to handle IRL daily transactions.
Many people doesn't carry cash and pay for everything with credit/debit card. If they would pay their daily expences with cryptocurrencies, no matter how advanced the blockchain would be, it would be flooded with billions of microtransactions and go to MEMPOOL dead end.
I totally get your point and fully agree when we consider the state of blockchain at the moment. This will also certainly be the case for many years while the medium progresses and finds its feet. There was a time when no one thought the internet could support the rich media experience we have today and is the foundation of so many billion dollar value generators and I see blockchain doing the same thing for money over the next 20 years
Yes. Blockchain will evolve into more efficient.
But it will still have huge limits in transaction volume because you need: