@CryptoSorted
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Sometimes, I feel we crypto enthusiasts are delusional. We know (or probably don't) that the crypto market can't sustain itself outside of the traditional financial system, yet we want to wish it away. If there are not banks and other traditional financial systems that facilitate transactions, how would you buy the dip, cash out your crypto earnings, etc? Especially when we all know that there are only a very limited list of items and stores you can buy or pay directly with a crypto. We may not like how the current financial system is structured and operated but we shouldn't discount its relevance to the success or even continued practicality of crypto. #crypto #cryptocurrency #defi
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My first thought was 'stablecoins', which is stupid because they are pegged to fiat.
That's true right now but it may not always be so.
Very well said, and quite true. I am not going to outright say that crypto will never ultimately replace fiat. But I will quietly say it. I don't think it ever will. It will only ever complement it and provide an alternative. Either way, as it stands right now from a practical standpoint for me, other than HODLING it, it is otherwise pretty much useless. For now. The description I often use is having a $20 bill in your pocket at a vending machine but not being able to buy a bag of chips because the machine does not accept a $20 bill. From this perspective, even if you have $20, you are essentially still broke. lol
I'm not delusional, just a degen...