Bitcoin Forum

People's lives have changed a lot since the advent of cryptocurrency. Investing in crypto in particular has produced enviable results for many. If a person improves, it contributes to the improvement of the society and at one point the country. At present Cryptocurrency is leading the world directly and indirectly which will be visible in the future. Today I will discuss the role of crypto in global financial development. How this cryptocurrency is helping the entire global economy (https://pmcaonline.org/benefits-of-cryptocurrency-to-global-economic-structure/).

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Easy and cost-free transactions: Cryptocurrencies can be transacted more easily than banks. Due to its reliance on blockchain technology, there is virtually no comparable bank. Transactions can be completed with little cost. Another advantage is that transactions here cannot be deleted. So, all types of information are available. There is no room for cheating. You can make any transaction at any time.

As a solution to hacking problems:
The cryptocurrency industry is currently providing investors with excellent security options. Hacking is not possible using normally in blockchain technology. However, one must have a good understanding of how to operate these security options. A newbie must use crypto after gaining sufficient knowledge. Currently, the world's biggest companies have already taken all kinds of measures to use cryptocurrency.
                                                                      
Crypto banking benefits for poor countries:
Currently, banking systems are in operation in all countries of the world. But customers of all countries are not getting full bank facilities, many of them are out of bank facilities. Cryptocurrency is a good option for them. They can profit by investing in crypto. He can enjoy this benefit from any part of the world. It is not just one person who is benefiting here. Through this, the country is making great progress. Developing countries are still lagging behind if they can implement it well then the country can become more developed quickly.

Importance of crypto in financial activities: big companies of the world are now paying special attention to crypto. As a result, they are encouraged to invest in cryptocurrencies and some companies are already accepting their payments in crypto and thus they are growing more and more day by day. However, not all companies will approach this in the same way. A lot of companies that didn't get involved in crypto on their own terms are coming back.

Cryptocurrencies are being discussed positively today due to various reasons. Although there are some downsides to it, if there are more good things ahead, they should definitely be prioritized. All in all, cryptocurrency will gain more public support in the future and will play an important role in all types of financial activities in the world.

Do you think that within 2030 we will find crypto currency almost everywhere in the financial sector?

Hacking is very much possible in Crypto-currency there has been lots of times individuals wallet was hacked and the hackers made way with the individuals funds. The case in the link below is one of many
https://bitcointalk.org/index.php?topic=5432665.0

Also crypto-currency exchanges has been target for hackers and in some occasions they have been successful and also made way with funds. This isn't to discredit Crypto-currency but to raise the need for you and others that think crypto is a safe heaven to have a rethink and consider being more focused on security because it can happen to anyone who falls victim.

Crypto surely had its ups from the past and we're now proud enough to say that it's got its own economy now, but on that note I wouldn't be so hasty as to say that the whole world is now being powered by cryptocurrencies, especially since crypto is still massively dependent on its speculative nature for survival. I say that at best, we have gotten from being a measly asset that is dismissed by many to a trillion-dollar industry that's able to change the lives of many people around the world in one way or another. It's great enough as it is and we're sure to experience even more amazing things in the future. But let's stay grounded for now and remain humble despite the constant successes, we're still at the few laps of the bear season after all and we're not even sure how long this will go for.

The World economy was purely depend on the cryptocurrency now,the reason behind this was many people now earning using the cryptocurrency.Some people earning from the cryptocurrency trading,some people by using their social media account and earning some tokens.Some also earning from the forum campaign payment,by many ways people earning crypto currency.The same money was used by the people for using the services in their country.So they are paying the certain part of earning money for TDS and some for the service received from the society.

Yeah right, some don't realize the size of the outside world! What's powering the global economy, 400k transactions a day, and a market cap smaller than Norway's GDP? There is such a long way to go till you can even remotely claim this it just doesn't make sense right now!

Hold your horses, Bitcoin hasn't grown to even 5% of its potential.


Depends on where you live and what kind of transfer (not transactions as you don't transact banks!), if it's the same bank or national bank the banks win, if it's a transfer outside the country BTC wins, if there are large personal sums moving out of the country, you wouldn't want to be using banks at all.


In theory, it is possible, not "hacking" but different types of attacks, also you shouldn't generalize, some shitcoins blockchains that are heavily centralized or rely on just a bunch of nodes are just as susceptible to attacks as banks, remember the DAO hack, the ETC attack and let's not even mention all the shitcoins that die each week because of bad programming.


If you go by personal cases then it's impossible to create a bulletproof system, soon for later even with the most secure design somebody will make a mistake, but that will not be the fault of the protocol itself, in Luke's case it was his own setup that was faulty, just as you won't be able to blame the bitcoin blockchain or code for a bug in Electrum.

2030 is very near to think of the economy having complete dependence on cryptocurrencies. The possibility depends much on the adoption taking place around the world. In some part of the world it is possible to see good support and increased usage. This will surely have a difference in contribution between different zones. Bitcoin is easy and cost free transaction system, but when are they used. When sanction imposed over Russia, the country people used cryptocurrencies. This is considered an alternate than a real fashion.

I don't think the world economy is depending on cryptocurrency for now. The world economy is on own it own looking at how bitcoin is going to be. The world is still afraid of cryptocurrency specifically bitcoin because of it decentralized nature and it value in the stock market. They are afraid that bitcoin might take over the economic system of the world and when that happens, it will affect their personal interests.

Cryptocurrency has elevated plenty lower class people to middle class. And cryptocurrency is a threat to the fiat economy because of the bitcoin protocol and bitcoin network. Because the world leaders can not have access to the network to control the technology to favour themselves.

Cryptocurrency does not help many people richer, does not help a nation richer.

It mostoy help scam founder, developer teams and scam influencers richer. Many newbies, investors lost money in cryptocurrency.

They even buy bitcoin, that looks a good decision, but stored bitcoin on centralized exchanges and lost coins to scam exits, bankruptcies or scams from close source custodial wallets.

IMHO, that's still not that much of years for the development in terms of adoption. That's still considered as a short time but we don't know what will actually happen.
What we're just sure about with cryptos is that they're growing faster, especially with the main thing in this space which is Bitcoin. We might be getting the idea right now that many companies in the financial sector are have their share already on it. Some may go crazy as the others that's been known to be investing millions to billions. It is what it is but 7 years from now on, there could be a huge growth that we have never expected and the market will grow vastly and I'm optimistic with it which it goes with two halvings by that time.

The decentralized nature of Bitcoin gives everybody equal and free access to its network from any part of the world. With robust mobile and internet connectivity, India has one of the fastest-growing Fintech industries in the world. Yet about  22% of Indians are unbanked as of 2021 and a recent report put the number at 190 million people. Cryptocurrency indeed can be a banking option for them to save and also make some transactions.

But it would be wrong to assume that cryptocurrency is the solution to all their economic problems. Cryptocurrency alone can not make an underdeveloped nation develop. We should understand that cryptos are alternative currencies and investments but not a quick-fix economic development tool.

Currently, cryptocurrency is a big player in the global financial system since it is used either directly or indirectly in many parts of the world. To challenge the progress of the crypto industry many central banks have introduced CBDCs. These CBDCs have similar qualities to altcoins due to their centralized nature, but none can be decentralized like Bitcoin. So for anyone to enjoy the true benefit of privacy and security Bitcoin is the only option. With the recent improvement in bitcoin awareness and adoption, by 2030 more nations, corporations, and individuals will embrace the technology but I doubt if it will spread to everywhere in the world. Most nations might still be lagging due to stringent laws and infrastructural deficits.

Total market cap of cryptocurrency market is still very small compares to market cap of NYSE or NASDAQ.

Comparison of the New York Stock Exchange (NYSE) and Nasdaq from January 2018 to July 2023, by market capitalization of listed companies (https://www.statista.com/statistics/1277195/nyse-nasdaq-comparison-market-capitalization-listed-companies/)
In July 2023
- NYSE $24.97 T
- NASDAQ $22.21 T.
Cryptocurrency market cap (https://coinmarketcap.com/) is $1.04 T and it is actually smaller because of many scam altcoins.

CBDCs are created for many purposes, not only to challenge cryptocurrency industry. Most important CBDCs help governments to observe and tax their citizens better.

They are centralized like altcoins but worse as totally in hands and controls of governments. They can freeze your CBDCs anytime even in your accounts.

CBDCs were created because of the existence of crypto. The government is creating something similar to attract more and my observation was based on my experience in my country. The sole reason why the government of my country created CBDC is to encourage people to abandon crypto for the central bank digital currency. There were campaigns in the media about the benefits of CBDCs and the risks of using cryptocurrencies.

None is better because they are both centralized. Some altcoins are totally under the control of individuals.

Overall, the cryptocurrency industry has huge potential and if we exploit and focus on developing it seriously, it will play an important role in the future economy. But I agree with your realistic assessment, currently cryptocurrency is just a speculative market so it is not entirely correct to say that it will have a positive impact on the economy. Apart from bitcoin, which can become a means of payment, the rest of the market is purely speculative, with no real applications or use cases. So, to be fair, cryptocurrencies haven't brought much impact to the national economy, let alone the world.

Although the OP has written a well-written post on the subject, I do not agree with what he says. In an environment of rising rates, economies in general are not very bullish, and we cannot say that cryptocurrencies play an important role in the economies of most countries.


LMAO

The fact is that the cryptocurrency industry is relatively important in some countries, and will grow in the future. But today we should not exaggerate it.

Maybe not yet. The economies of most countries are not yet dependent on crypto. They still operate as usual and depend on government regulations, which are always changing. But if we talk about the future, especially for 2030, it can happen provided there is awareness from many people, especially the government, to start using crypto.

But if people, including those in the government, still rule out crypto presence and don't want to join in, we will still be where we are today. Crypto prices may still rise and fall, but the number of people joining may not have increased significantly.

People need something to start joining in crypto, like a sudden increase in Bitcoin price to $50k or even creating a new ATH immediately. They will only realize that crypto, especially Bitcoin, can soar very high. That's where they started thinking about using crypto. But for support, it will be bigger in the future.

This is what I hope for the next halving because people will be interested if they see a significant increase and this will make them curious, causing their interest in Bitcoin.
However, I believe that as time goes by, Bitcoin can help the economy of a country or individual due to its continued growth, especially for those who are familiar with the digital era. And there are still many people who don't understand Bitcoin, don't even know it at all, especially in rural areas.
Because, this still takes quite a long time, unless supported by the government. And it's only a matter of time.

This is what happen when someone is only understand about the theory than practical.

I live in a country where the minimum wage is $400 and I will break down my daily spending. Let's say every Bitcoin transaction cost for $0.5 every transaction, in the morning I need to buy a cup of coffee for $0.75 and a sandwich for $1, in the afternoon I need to buy fried rice for $1.5, then in the evening I need to buy cookies and bread for $1.5, I also visit a gas station to buy fuel for $5.

This mean my daily spend is $0.75 + $1 + $1.5 + $1.5 + $5 = $9.75, this what the cost if I pay using cash or digital cash.

If I pay with Bitcoin, then my daily spend would be $9.75 + ($0.5 x 5) = $12.25

Which one is cheaper, using cash or Bitcoin for daily spending?

It is already everywhere in finance. Almost every broker firm I know enabled crypto trading on their platforms.

https://grayscale.com/products/

Grayscale has a trust fund for btc and many alts. You can nowadays have an exposure to crypto without even having a crypto exchange account or mining crypto. Obviously by 2030, there will be even better and more advanced products. A few ETF's are on their way to get an approval from the SEC as I am writing this post.

2030 is more than 5 years. But even today in the neighborhood I can find someone who knows about cryptocurrency just like the guy who plants veges nearby, he has idea about crypto and have tried XRP.

Basically what is popular today will also be just as casual as buying something from the shop. Crypto will be adopted over time. And prices will also jump up as more are going to be holding.

Actually cryptocurrency is one of the currencies that have much firm and I believe that cryptocurrency have many ways of its operations of the way people campaigns about bitcoin and it get influenced, the world economy is now powered with cryptocurrencies, I will not be astonished when I hear that because I know from the onset that bitcoin as it own have the power to overtake other currencies as future goes on, because its faster in transaction and its an asset you can invest to, some of the civilised government or countries use Bitcoin to accelerate some of their financial problems by investing in bitcoin with proper monitoring of the market.

OP is being too optimistic about Bitcoin, I would too but realistically all these points are still starting and not extensive.

I mean you don't see your local grocer with bitcoin QR codes in every corner yet in every country or many countries. This will take time and that is what we should strive to bring rather than be in a bubble about Bitcoin.

Not sure what you mean in the second point. Getting hacked while using a crypto wallet is devastating and has happened through many sources in many well reputed companies.

2030 seems like a round figure, but I am no hurry I would give bitcoin more time.

OP, I have the feeling that you have used AI to produce this generic text. Is the website linked in this post yours?
Cost-free transactions? When where crypto transactions cost-free?
Solution to hacking problems? Crypto wallets can be hacked and drained. It has been proven before. Have you ever used Metamask wallet?
This "crypto helps people in poor countries" BS argument has always made me laugh. How could crypto help someone, who doesn't have enough money to buy crypto? How could crypto help someone, who doesn't have a computer and internet?
Big companies investing in crypto? Can you mention a few? I don't know about any major corporations currently investing in crypto.

We know that every coin has two sides, so cryptocurrencies should not be taken for granted as something that contributes to the world exclusively in a good way. A large part of the "crypto industry" is actually a factory of lies and deception that generate huge profits for those at the top of the pyramid, while the rest try to pick up only the crumbs, hoping that they will get lucky with some project that they will invest in at an early stage and that will turn into something extremely profitable.

The OP is simply too optimistic and does not see (or does not want to see) reality, which is unfortunately much different from the illusions he is talking about.

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I think we already had a discussion on this topic and that it is obvious that Bitcoin payments (on-chain) when it comes to microtransactions is really not a practical or cheap way of payment. As an alternative solution there is LN, or even some of the altcoins that have cheap fees (or none at all). In economies where every penny counts, saving a few dollars a day can mean a lot.

This is an analysis that shows that in a long time fiat will still be around because if you look at the fees for just a $ worth of coffee, sandwich and other little exigencies, you will see that bitcoin will be more preferred for major payments and not for little expenses to run the home. This shows bitcoin and fiat to exist side by side and moreover, bitcoin is more important for privacy payment deviod of third party. I would rather retrain myself from spending such fees for things like daily spending while using fiat to run such.

I'll correct it a bit:

1. "Easy and free transactions: ...." is a moot point. For example, we know many examples, for example, with a huge commission on the network or huge transaction delays. For example, with us, PrivatBank and Monobank send money within the network with a delay ... a couple of seconds. With 0 commission. On other networks, the cost of a transaction is at the level of "kopecks". This is reality

2 "As a solution to hacking problems:...." - losing your private key - you lose your funds irreversibly. ALL. FOREVER. This is also a fact. That's how technology works. If your card has been stolen, you can block it in 10 seconds. But many banks have a lot of additional security tools - a dynamic CVV code, confirmation through the application, limits on transactions, ... This cannot be done in Crypto wallets. Funds sent to the wrong wallet - WILL NEVER RETURN.

3. "Benefits of crypto-banking for poor countries:..." - perhaps yes, but there are nuances - this requires at least a basic data transfer infrastructure, and the availability of devices for working with crypto-wallets. On Nokia 3310 you will not be able to manage cryptocurrency.


4. "Importance of crypto in financial activities:..." - it doesn't sound bad, but the legislation, on a large scale, is not ready to accept crypto as a full-fledged currency. Perhaps the situation will change over time. But strict regulation in relation to the crypt is likely to become.

You need to know that cryptocurrency is a financial market, meaning there will be winners and losers, not everyone who invests in crypto will win. Those who invest in cryptocurrency have all changed, but losers have bad changes, so is it correct to say that it is contributing to the improvement of society and the national economy? Just like stock investment, foreign exchange investment, I have not seen anyone say that it improves unless you are serious about paying taxes to the government. And if you still avoid taxes, don't say it's good for the economy. A speculative market, and without practical application, cannot be said to be beneficial to the national economy.

It is not yet time to say that the global economy is driven by cryptocurrencies as the world is just trying to convert everything to this digital currency, but it is true in the near future will count.It is quite a reasonable claim that the world is being run by cryptocurrencies as the entire world's economic situation is now largely dependent on digital currencies.One of the biggest advantages of managing the global economy is that it is a secret system.

The modern world is going to depend on cryptocurrencies much faster than it can be assumed that the world will be after20 30 years Cryptocurrency era where only one management will rule is digital money by electronic money or hide money whatever we call it.
Cryptocurrencies have a few elements to operate based on which we can say the current system that governs the world is the currency viz.First of all there are reasons like independent transaction hacking and improving the banking system of developed and developing countries etc. and this can be easily accepted by people
It is amazingly trying to bring the world together or to bring about a management, but it may have some shortcomings, so it can be realized in advance so realistically aiming to manage the world with progress Actions must be taken forward.
It is a good thing that any developed and prosperous countries now use a fiat currency in case of danger, for example Russia.
In today's world, people want to get everything new, I believe that cryptocurrency will be chosen to improve the banking system of developed and developing countries and get better management and acceptance.
Finally, I can say that at present, not all countries have fully accepted or educated this system, and as a result of a lot of propaganda among people, its acceptance may be more in the future Cryptocurrencies will reign in the days I believe the visionary people in the modern world can see right now that the future holds for cryptocurrencies.Proper promotion and widening of its scope will increase the acceptance of this currency and remove misconceptions among people and this currency will rule the present world now and in the future.Since developed world countries are driven by this currency, it can be assumed that this currency is charting the current trend.

Bitcoin is a technology so any country that will want to adopt and implement it would have developed technologically to be optimally enriched with the digital tech and not that by implementing bitcoin a drastic development will quickly erupt in these least developed countries. Moreover it's a people that are technologically inclined that can practically get the best out of bitcoin.

2030 is 7 years ahead and short period to me in thinking that cryptocurrency will pervade almost every financial sector of society because the government are not acting as people that are in the business of giving up their economic power and control anytime soon.

The only way they can both benefit from the crypto banking is imposing tax on the people who are using crypto for financial purposes. With this method, some government can milk their citizens by imposing heavy tax on them which can discourage them from using cryptocurrency. The government always goes for what favours them and that is undeniably the truth about bitcoin not fully adopted into the financial sector of all countries in the world.



We hope so but it still depends wholly on the government of each of the nations that will adopt it fully into their financial sector. As it has been said before, without them having proper regulations of it, they won’t want to adopt its use to their citizens.

Although the popularity of cryptocurrencies is growing among users, the world economy still depends on the dollar, euro and large global organizations that control global financial markets and banks. In many countries, there is no regulation of cryptocurrencies or laws do not allow companies to develop this area of ​​business. I think that we are still at the very beginning of the development of technologies that can be used in everyday life.

That's still about 7 years away and will anyone be able to predict what will happen in 7 years in the crypto world? even in one night, everything in the crypto world can change drastically.
And somehow I see it as nonsense to say that the world economy now is powered by cryptocurrencies, even though the scale of the crypto economy is still quite small when compared to the economy of one of the prosperous countries.
Everywhere everyone still uses fiat, even when you have the choice to use Bitcoin, you will prefer to keep it because you think about future profits due to price increases. Even if you want to use Bitcoin, exchanging it to fiat is the main choice because you won't find many shops which accept Bitcoin as a means of payment, so you are like a very optimistic person, and maybe because your community is the one who benefits from airdrops or bounties so you think that the world economy is getting powered from cryptocurrency, because you are the people whose economy is changing because of crypto.

Of course, in 2030 we will see cryptocurrencies taking control of various financial sectors, that's because cryptocurrencies are very safe, transparent, and fast. Apart from that, the adoption of cryptocurrencies is something that cannot be avoided even though government regulations on cryptocurrencies often change ^{(depending on their interests)}
cryptocurrency users around the world continue to grow and difficult employment opportunities make many people try hard to find ways to make money from cryptocurrency, simple things like this are what make cryptocurrency increasingly dominate the financial sector.

It is true that crypto currencies and in particular has potential to play a significant role in shaping  financial landscape due to its inherent nature of decentralization and its ability to serve as hedge against inflation. However, it is premature to predict that by 2030, they would be widely adopted as mainstream method of payment. There are several challenges those need to be addressed before such widespread adoption can occur, such as regulatory uncertainty, volatility of crypto currencies,  technological advancement and infrastructures are required to reach remote areas and educating the masses about how to use this technology and proving accessability to all segments of society, which is lengthy and complex process.

l think cryptocurrency is making its advancement, and gaining more recognition among the people globally, but things are still moving in the up and down pattern. With this, it might take longer than expected to make such achievement, beyond 2030, and no one can guarantee exactly when. All things being equal, cryptocurrency is gradually enhancing.

Not decentralized crypto, but it will be full of CBDC because it's issued by the government and they have full control over their coins.

Well it's not as easy as you say for unemployment to make money through cryptocurrency because not everyone can become a trader. If you refer to this forum, signature campaign is limited and only the high quality poster can join it.

Cryptocurrency is just a payment method, it's all depends on their skill to get a job.

You don't necessarily have to be a trader, to make Money in cryptocurrency nor do you have to be involved in Crypto-currency signature campaign, you can sell you services in the cryptocurrency space, like I no web designers that are working for Crypto-currency projects and are doing well for themselves.

The first thing in making money as an independent person is having a skill that is sorted out for then you can channel it into the crypto-currency space and you would be making money that way .

While I do believe that the future is crypto, there are just some things that can't be processed in my mind. Like connecting banking and cryptoing.
It's because if we're going to remember some important points about crypto and that is we're the actual ones who should play the bank in our own.

There are several things I want to criticize, it's not that I don't agree with bitcoin or crypto, but it still needs improvement so that cryptocurrency is ready for mass adoption throughout the world.


I don't agree with you, Transactions of large amounts of money may make fees look cheap, but in transactions of small money, the fees become very expensive. Especially bitcoins


In my opinion there is a lot of bitcoin or alt theft. Maybe the theft is not by breaking into the bitcoin network, but there are lots of bad malware on the internet, lots of phishing sites that will expose your keys. If your wallet has been hacked then no one can help you, maybe it's better if your bank account is hacked because usually the bank will provide compensation for such problems. Education is needed before bitcoin is implemented en masse
      

I'm not sure about your statement, most countries whose citizens don't use banks will likely be more confused about using crypto. How they buy, exchange and secure wallets. It's much more complicated than a bank account


Those are just a few, what's more important is if there has been a breakthrough in payments using bitcoin at companies that sell basic necessities, because people buy them more often.


I honestly want bitcoin to be a legal alternative currency worldwide, but I don't think it will happen in 2030, maybe at least in 2050 it will probably happen.

If am not mistakenly we just have 7 years closer to the said date, and the answer to this question will be answered if cryptocurrency (Bitcoin) will be legalized globally then we can say all financial sector could implore it.
Naturally in the area of hacks, this is one thing unavoidably be it the banking sectors or in the cryptocurrency sphere as a matter of facts they are paying much attention to this aspect of it so that anyone venturing into cryptocurrencies investment and trading would as well take security precaution as its plays very vital role in holding and saving our investment. I think anyone who could managed this aspect of cryptocurrency would actually last long in the industry without having to record any hack or security bridging, which is very much common with nowadays cryptocurrency exchange (CEXs).

If banking system is not available on this country, I’m not sure how can they afford crypto either to use for there investment since there’s no way for them  to convert their fiat to crypto currencies vice versa if there’s no bank or other services that will process it unless those people earns their crypto through online job.

I experience to leave on island which there’s no bank, I believe I will be having a hard time when I use crypto in there instead for a bank. Bank is still required or 3rd party services that will process fiat to online.

A lot of nonsense. Try to compare the cryptocurrency market capitalisation with other markets. You will see how minuscule the power you thought of.

Managing a wallet is hard for most people and the transaction certainly is not free.

Smart contract vulnerability exists. It did not give a solution to the hack problem.

I'm pretty sure poor countries have more pressing problems than simply what cryptocurrencies can offer and solve.

Again, As I said firstly, it is insignificant in the world's financial activities as of now.

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You see, you spout many absurd things. It is similar to people who perceive many things can be solved by just incorporating a blockchain. Now you just seem considering it with cryptocurrency. A lot of complex problems in the world, financial and economic are not exceptions. Yet you just blindly narrating nonsense.

I think you need to realize that we are already achieving this with bitcoin in the global economy and those that have adopted bitcoin were already seing the change in their financial economy, a good example is from seeing how the bitcoin network has yone globally and being well recognized, ever since the introduction of this digital currency, many have valued it impact by adopting it are so many others were still interested in learning about it as they were being informed something newly introduced is changing the whole financial economy to decentralization on digital network

I think you should not write it as cost-free transactions instead cost-efficient or cost-effective would be better because we know we can not make transaction without paying nay fee cost. But we pay smaller fee even while having a trade or transaction of millions. I am not including the tax factor.

You are right at your point but just a bitter reality, number of hacks are way high when it comes to crypto sphere because most if the newbies are unaware of the simple rules that could save them from scams and hacks but no they have to date some random girl on tg or X or they have to make $10,000 in one night without any investment.

Knowledge before using crypto is must otherwise number of hacks and scam cases will not stop to decrease.

With the feature of blockchain technology, Bitcoin has already answered this question.  Bitcoin is now considered a legal tender by some countries and a mode of payment by many countries.  Bitcoin is also considered by the US as a commodity while China just announced Bitcoin as legal property.  Bitcoin has been used as a payment system by several merchants and even government institutions are now accepting Bitcoin as a mode of payment.

The adoption of Bitcoin in finance industries has been promulgating for years I think it almost covered the financial sector when it was accepted as a payment system.

Certainly, you have highlighted an important point regrading education and awareness about crypto currencies, which I think is essential for their continued growth and adoption. It is true that scams and hacks act as significant barriers towards widespread acceptance of cryptocurrencies, and many of these unfortunate incidents could have been avoided with proper knowledge and precautions.

In essence, there is no doubt that cryptocurrencies offer exciting opportunities, they also come with inherent risks. It is important to stay well informed and exercise caution to mitigate those risks.

In fact, this applies to all investments. It is necessary to have knowledge before making any investment. For this, the resources we will receive training must be of high quality.

Although governments do not legally accept Bitcoin, they must protect their citizens from any form of fraud. In countries where Bitcoin trading is not prohibited, the state is required to inform its citizens about Bitcoin investment.

In the country where I live, crypto-related trainings are given in many universities. I attended some of these trainings and saw their benefits. Similar studies need to be done all over the world.

Cryptocurrency may not be as significant as you think. In the world, it represents only 2.4% (Q4 2019) (https://usbeketrica.com/fr/article/how-will-cryptocurrencies-impact-national-currencies-a-120-billion-question) when compared to traditional currencies that have long been familiar to society. Perhaps if we estimate up to this point, it doesn't exceed 10% when compared to traditional FIAT currencies.

Cryptocurrency indeed has an influence on the global economy, but its impact is not yet substantial. Nonetheless, this is good news, as it means you can now incorporate a significant percentage of cryptocurrency into your life and begin to explore its advantages. By claiming that the economy depends on cryptocurrency, you are becoming increasingly reliant on crypto itself.

Slowly but surely, cryptocurrency will become better known to many people in the future. And its challenging adoption phase will undoubtedly be overcome at some point.

We are aware that Bitcoin and other cryptocurrencies are frequently the target of hacking attempts, which serves as more evidence of the high stakes nature of this business sector. There are now certain nations that are progressively embracing the idea of Bitcoin because they recognize its potential.

And the decentralized nature of Bitcoin's system is arguably one of the primary factors in its acceptance by most nations. And it will have a significant impact on each nation's economies. Aside from that, the Bitcoin or cryptocurrency realm has greatly aided this industry. And every company that adopts it has a pretty bright future ahead of them.

Indeed, your perspective on cryptocurrencies is valid. Although cryptocurrencies are experiencing rapid growth in popularity, and individuals and institutions are integrating Bitcoin and other crypto currencies in their investment portfolio, but still cryptocurrencies have not yet achieved dominance within the global financial system. However, as their adoption continues to evolve, they are likely to become increasingly mainstream as a method of payment in future.

Are you sure with what you are saying? What evidence do you have that bitcoin's decentralized nature is the reason for governments to adopt bitcoin? And if what you say is true then why have not many countries accepted bitcoin as a currency so far? How will Bitcoin significantly impact the economy of each country when it is just a highly volatile asset? If just accepting bitcoin improves the economy, why aren't governments accepting it? I learned that it is the decentralization of bitcoin that is the barrier that prevents the government from accepting bitcoin.

I mean cryptocurrencies have high transaction fees if the network has a lot of congestion I mean 1 small transaction could cost you up to 100$ each transaction you could already see the Ethereum network how high its fee is when the NFTs become popular. Bank transactions will cost less and it is more reliable and faster than cryptocurrency transactions for sure because banks are centralized platforms.

Cryptocurrency is prone to hacking we could already see a lot of people getting hacked and its not 100% hack proof even though there where still no one that could crack or hack for example Bitcoin we are still not sure if it is going to stay that way, I mean there was no such thing as safe in the internet everyone is prone to hacking.

There are a lot of positive and negative factors of cryptocurrency in a country but for sure it still needs a lot of adaptation and growth in order to use this kind of technology since it's probably something new to most of the country since there was still no basis on cryptocurrency. We don't know if cryptocurrency is still going to exist after 5 or 10 years, so it's still a risky option, for me I just treat cryptocurrency as a investment and i just investment the money that i can afford to lose.

The network fee problem was getting better since the layer 2 blockchain system introduce, like Lightning Network for Bitcoin and Arbitrum on Ethereum. And I think what OP means by hack proof is that the core blockchain of the crypto is generally hack proof, but of course the Exchange, the Wallet and other supporting infrastructure is very much hackable, but blockchain as the basis for crypto until now is still really hard to be hacked. All that being said, I still also think that crypto in general need to be more scalable for an actual mass adoption, compared to the current Visa/Mastercard or other payment, cryptos are still lacking behind in term of scalability.

You both (sayeds56, eightdots) are totally right, as syed said knowledge is necassary to mitigate the risks involved in crypto and as eightdots said many countries have initiated courses or training to provide more knowledge to people so that they would save themselves from scams and hacks.

I had many discussions on this topic before with lots of friends and on my topic (gere on BTT) and the conclusion was always to be aware of all types of old and new scams. And how one would save themselves from these scams. A little knowledge might not be of some use to you buy once you share it on your status feed then you start getting positive response. Like how your information saved them. The point is knowledge is power and necassary in all field of life.

And dear eightdots, I think it does not matter, either crypto is ban or not in your country if you have the interest to learn something, you can learn them online without any restriction or punishment from governments. No one will stop you or anyone from getting knowledge, while the problem can raise if you start to implement it. This not only goes for crypto while for a every other type of study too.

i think bitcoin will get more and more users but I don't think that it will used more than fiat. it seems that bitcoin will become the best alternative currency replacing paypal and other remittance service. I agree that bitcoin can help unbanked people in poor country, also those people will get at least two benefits, first they can store their wealth safely in their wallet , second  their wealth will grow as bitcoin price is increase.

The points mentioned by the OP are indeed very true and these are indeed facts. Maybe that indicates that the development of the crypto world and the existence of crypto currency are indeed very relevant for everyone. Because there are so many very useful aspects of cryptocurrency. So, now people are looking at cryptocurrency as a solution to a problem, as a way to make money and as an alternative solution to problems for the financial system. Therefore, cryptocurrency names are getting bigger and new enthusiasts are popping up every year. So you could say, the development of crypto currency is currently moving in a positive direction. Because as the OP wrote in the thread, cryptocurrencies have many uses and are very multi-purpose by nature. So sooner or later people will realize this and most likely there will be more and more crypto currency users in the world.

The year 2030, from the current year, is roughly 7 years away. This means that there are 7 years for crypto currency to be able to further develop its wings, so that it can be more attractive to many people. So in my personal opinion, most likely in 2030, the name cryptocurrency will be much bigger than it is now. Because now the era has advanced to an era of greater modernization, and this will definitely make cryptocurrencies even more profitable. So i can conclude that by 2030 cryptocurrencies will most likely dominate the financial sector. Because in 2030 the digital era will definitely be more advanced and bigger than now.

But with a note, that the development of crypto currency does not have big obstacles. Like the many scams, or the stock market crash. Because if that happens, surely the public's view of crypto currency will be a little unfavorable.

Bitcoin will indeed get more users over time because of its increasing popularity among the public, so that the use of Bitcoin can also increase every year. But it's true that on the other hand I also don't think that the use of Bitcoin will be the same as fiat or exceed the fiat that has long existed in society, because it is also influenced by the total number of Bitcoins that are known even though there are still leftovers that have not been mined by everyone.

Bitcoin can indeed be the best option for transactions other than fiat, because several wallets that support Bitcoin have made services for Bitcoin more and more so that it has made it easier for everyone to use it quite comfortably and safely. For example, as you mentioned, people in poor countries can also have wallets to store Bitcoin even though they will not ignore fiat in their lives. Now, from a number of these things I also started to think that in every cycle the price of Bitcoin itself will tend to increase even though it is still accompanied by a price correction in the market.

It caught my attention a bit,  why did you ask this? Second, do you think anyone can answer exactly what will happen in the year 2030, even though you know no one has been to the future like the year 2030? Wouldn't it be better to talk about the current happenings around the world in the field of cryptocurrency?

We know that with each passing day, the value of Bitcoin in the market really increases, as has been proven by the time that has passed since it started. Even though there have been various issues, such as large-scale hacking scandals, in this field, other cryptocurrencies besides Bitcoin still exist. So, in short, these current events in the cryptocurrency market will continue to increase its dominance in this industry in the coming years.

With the change of time, crypto currency is becoming more popular among people. Many countries around the world are now expressing positive comments towards cryptocurrency. A number of countries have legalized the use of Bitcoin for their citizens. In modern life people want some modernity in transactions also. Earlier people used to use cash mostly but now the amount of cash usage has reduced a lot. During this time, people convert their money into cryptocurrency instead of keeping it in the bank. As the popularity of cryptocurrency increases, it will be seen that cryptocurrency is controlling the economic system of the entire world.

If you understand how things work you'll realize that it's impossible for the World to be powered by True Cryptocurrencies. They are not fiat currencies which are under the control of World governments.

For the World to be powered by cryptocurrencies, the cryptos have to be controlled by World governments or system. And once a cryptocurrency is captured and controlled by the world it no longer qualifies to be called cryptocurrency.. . It becomes false cryptocurrency or fiat currency because it has been hijacked and turned into something else that is contrary to the ideals of true cryptocurrency. The problem with fiat is that its power is centralized and can be easily abused while Cryptocurrency power is decentralized and abused is checked by everyone or holders of the powers.

In regards to the question you asked at the end of your post, the simple answer to that is no true cryptocurrency will be allowed to power the world or its financial sector. It has to be currency they control or they won't allow it.  Ofcourse there are plans by World powers to control Bitcoin before using it or adopt it first in hopes that it will be hijacked and turned into fiat currency in the future but that won't work out for them. Another way they could handle things when they find it hard to capture Bitcoin is to Clone/Create bitcoin-like centralized chain or sidechain they control then call it Bitcoin and get majority to use it

But cryptocurrency exchanges, investment funds and processing companies are already controlled by governments. It is not profitable to mine cryptocurrencies on your computer or other equipment at home, so new users buy cryptocurrencies on exchanges and governments know the wallet addresses of their citizens.

The irony is that Bitcoin itself is not "hackable" yet hackers find themselves stealing some amount of BTC/crypto that is worth hundreds of millions, if not billions, every single year. The traditional financial sector with reversible transactions are more immune to damage from hacks. I don't prefer reversible transactions or the modern banking system, though it is a bit naive to suggest crypto is a solution to hacks.


Global adoption is going to take more than seven years. 2030 is too hopeful.

I think by 2030 bitcoin will be known by every financial company, but will it be "used" by them all? I am not sure about that. I understand the need to see it grow that big, but sometimes that doesn't happen and we just have to accept that faith. I get that it is going to be tough and we are going to end up being a little different on that subject, but as long as we have it working then we should be fine with it.

I get that humanity requires some changes because the current fiat system is not doing that well and we need to make it work somehow, but as long as it exists in this period then we are going to be doing fine with it. I hope that it gets to a point where it could be considered a powerful return for us.

The whole question is, will the bitcoin blockchain survive if millions of people start using bitcoin at the same time? The technology is outdated, the size of the blockchain is huge, transaction fees are another problem. Widespread adoption of bitcoin is not a good thing, no matter how many people claim it is.

This would be very possible to happen, especially considering the current conditions, the movement of bitcoin is increasingly accelerating, especially after Covid, it is indeed possible for something like that to happen where mass adoption arrives.
Even if in the end this just goes back to commodities, as long as there are no detrimental regulations from the government, I think it can still be done and it is possible for several countries to make bitcoin a means of payment, just like El Salvador is doing now.

But that is hope and now it is still early at that stage and we must continue to try to do so that renewable technology like bitcoin continues to be in the same condition and develops over time because it requires extra effort from us as users and people who believe in bitcoin that bitcoin is not something scary and threatening.

It does help people to become richer. By the word richer, it does not mean that people are now millionaire. Can't you see the demand of cryptos? They won't grow like that if people are not benefiting with them. A nation can also benefit with it. It can be through tax and transaction fees. The only problem is many governments are too unknowledgeable to not adopt it.

There are scam cryptos and if you blindly invest on them, that is the time you are only helping the people behind it. Anyone can lose money in cryptos not just the noobs but if an experience user lose, it can be a natural one or not because they invest on a scam project. There might be other reason on why a user can put Bitcoin on a CEX. It can be that they are earning a reward on it. If not then indeed, that it's better to store it in a wallet that we fully control.

Technology can be developed and updated, and Bitcoin is no exemption on this.  If you look at the Bitcoin history, Bitcoin is constantly being updated, see the segwit (https://www.investopedia.com/terms/s/segwit-segregated-witness.asp) and taproot (https://www.investopedia.com/bitcoin-taproot-upgrade-5210039) upgrades.

If you think that Bitcoin technology is not moving forward, you are very wrong.  It may be slow but it is for networks security since it needs a lot of testing and needed consensus for any major update to be implemented which may take years on the process.

Aside from that we already have the Lightning Network to handle the possible congestion problem in the on-chain transaction when adoption is greatly happening.

That's a great description!
- we are starting to realize that blockchain is not money, it is technology.
- a technology that is far from being used on a mass scale !

.... and most importantly the impact on the financial system of the world. Who seriously thinks that some 1 trillion dollars of crypto market capitalization can affect the world economy ? :)

I would say one day people could overthrow their own governments, and I do not mean a rebellion that picks another leader, that has never worked so far, I mean something that changes the whole system. People will be in charge or the rulers and democracy would be done the way it should be. Whatever that people wants, will be given, I mean the majority of course. Nobody will force rules down peoples throats.

I know that it sounds like impossible and also chaotic, but I do believe that one day people will stop thinking that it's fine to elect one or the other, and realize that this is a public service position that shouldn't have this much power and elect a whole new system. In that case, crypto could be used.

Cryptocurrency market value may be around a trillion dollars at most but not considerable compared to the market value of the economies so we exist but not in a way as you exaggregate, They have not yet reached a scale where they can significantly impact or rival the market value of well-established global economies. But I am sure there will be a day when it comes bitcoin becomes inevitable from the economy which may co-exist with the traditional system or overshadow it and take its place.

Many people even think that it is supporting and positively impacting the world economy. With a capitalization of $1 trillion, it is only 1/3 of Apple's capitalization and only 1 year of the US military's annual defense spending. Cryptocurrency is still too small in terms of macro influence, too many people have illusions about its power.

@Unbunplease, although bitcoin is old and outdated when compared to other blockchains but one thing you should remember, it is still the most secure blockchain by far, no one can hack or meddle with it. But whether its use worldwide is good or bad for the bitcoin network, is still a question worth thinking about.

Well, I can't deny that my financial life has changed after I found out about and got involved in crypto. At least I have more sectors for my investment purposes. And I can also get some profits from transactions in crypto. Even sometimes I have profits from crypto trading. And this has added to my income apart from the business that I am currently running.

We never know what will happen in 2030 but talking about the level of adoption then I think by then there will be more crypto adoption in various countries. Because today's younger generation is definitely increasingly aware of and getting involved in crypto. And several countries have also started to be more open and support the education of their citizens to become more familiar with crypto.

The same question arises when the network becomes congested, and there isn't a single individual in the world who has come up with a solution. Some time ago, during the Dust Attack on the Bitcoin network, all users complained about high transaction fees and lengthy transaction times. This, of course, poses a hurdle for everyone as Bitcoin gains mass adoption among the general public. Improvisation is sorely needed, whether it's now or when the network is being used by a large number of people. The question that looms is: who can control the transaction speed to make it more user-friendly?

I'm saddened to see everyone abandoning Bitcoin and switching to altcoins that offer more features. Wouldn't it be less problematic if everyone used the Lightning Network to make Bitcoin more affordable to use?

Do you have use lightning network in the first place? you can't just expect people will adopt lightning network when you're not even use it.

It's not easy to use lightning network and it's not cheap if you're not regularly make transaction since open a new channel you need to pay fee for the miner. Since lightning network isn't friendly use and only cheap for many transactions, why not they just choose altcoins with cheap fees?

You may have noticed that Bitcoin's popularity has only grown steadily. That is, if today 1000 users are using Bitcoin, tomorrow 1010 users have used Bitcoin, that is, the popularity of Bitcoin has gradually increased, but suddenly, a large number of people have not started using Bitcoin.  

In the coming days there is a possibility that a large number of people will adopt bitcoin but I think that in the future people will gradually adopt bitcoin as in the past people will gradually adopt it so that even if a large number of people use bitcoin gradually its blockchain will be fine.  

The problem you mentioned with transaction fees is currently non-existent as Bitcoin transaction fees are now back to normal. From a place where Bitcoin's transaction fees were very high even a few days ago, today's transaction fees are very normal.

It's quite an exaggeration to say that currently the world economy is powered by cryptocurrencies, many things must be fixed in cryptocurrency to make it a power of the world economy including regulation and adoption (we have yet to see cryptocurrency used around the world). apart from regulation and adoption, there are still many scammers who are in cryptocurrency which also makes investor confidence in cryptocurrency decrease, Maybe in the next few decades the world economy will be powered by cryptocurrency.

Absolutely agree with you ! Moreover - there are quite a few people who really believe that blockchain TECHNOLOGY in the form of bitcoin or altcoins can save the economies of countries in trouble :)
They do not understand how the monetary system of any state, the financial system and the banking sector, which the state will always support, works.
But the funny thing is that we all know bitcoin is more than 10 years old. And if the apologists of the fairy tale "bitcoin will save the world" to ask a question - give an example of the real use of bitcoin or any other cryptocurrency, in any state, as a result of which the economy of the country has improved, and the standard of living of the population of the country - improved, then in response you do not. In response, I heard anything but a minimal example from real life :)

In fact, in my opinion, cryptocurrencies were originally launched to pave the way for the introduction of CBDC. People got used to the ease and speed of settlements, smart contacts, wallets and other aspects of cryptocurrencies. Now it has become much easier to attract people to CBDC settlement.

I don’t believe in conspiracy theories and other theories. But after getting acquainted with CBDC, I said - the blockchain and the free community of the crypto world gave birth to a MONSTER called CBDC!
I am sure that without 15 years of experience in the development of blockchain technology and related technologies (smart contracts, etc.), the emergence of a CBDC would not have been possible. The state always has an advantage - it is a regulator. But having understood the potential risks, cryptocurrencies are now under pressure from “regulators,” and the state has adopted experience and is using good technology to prepare a new, almost ideal tool for total control of its citizens.

They are bitcoin enthusiasts but have a blank mind when it comes to financial and economic knowledge. What's more funny is that many people still think that bitcoin can reduce unemployment, eradicate poverty or that bitcoin will provide our daily food... :D :D, so much ridiculous exaggeration for bitcoin. Even recently someone said that if the government accepts bitcoin it will bring peace, I really don't know where they got that knowledge from when investing in bitcoin.

We ourselves have not been able to improve our economy by relying on bitcoin, so how can we come up with those stupid ideas and criticize the government just because they don't accept bitcoin?

Bitcoin blockchain is a technology and there are thousands of people working on the bitcoin blockchain, all it takes is a concensus and a new order is created. There is nothing so static in life, there is room for improvements especially when it concerns a young technology.  Bitcoin is barely a decade and yet there are many changes that are positive. Even there is a negative hard fork, this means that the size of the blockchain can be increased and many other updates will be implemented in bitcoin. Anything that will not cost bitcoin its decentralized nature will be adopted, even if it is a refined PoS.

It's called "blind faith" or "obsession with an idea." It's a bit like the tulip bulb story in the Netherlands back in the day. When at first they were paid fabulous money for them, and everyone decided - this is the salvation for everyone, all of them will soon become "kings with their castles", the main thing to buy tulip bulbs.  In today's situation, of course, this is not the best example, but it is similar - everyone thoughtlessly believed in the power of the "tulip bulb" of modernity - in cryptocurrencies and decentralized non-inflationary solutions, and convinced themselves that they will save the world :).

The problem is that many of the apologists of "crypto happiness" do not quite understand how the state and the financial system of the state are organized. Unfortunately, the lack of education is a very global problem....

Cryptocurrency is very popular now.  Almost all people are now turning to cryptocurrency for its advantages.  Investing in it is very profitable.  The transaction fee is very low.  Its benefits are so many that it cannot be overstated. Like you said people who are not familiar with the banking system can easily invest in crypto.  It is possible to get many benefits by trading properly.  Yes I think in 2030 almost every country in the world will be running cryptocurrency.  Because no country can deny its benefits at the end of the day.

Those people are either dumb or something, I also can't understand why they can think like that.

Bitcoin is solving poverty, while you need to have money to buy Bitcoin.
Bitcoin is saving the world, while Bitcoin is only a currency, if there's a war you can't use Bitcoin to shoot or kill someone.
Bitcoin is the biggest evolution and will take over economy in this world, while Bitcoin is only a currency, not a product or something else that will make someone able to live.
Bitcoin must be accepted as legal tender, when he's still use Bitcoin as an investment and not use Bitcoin regularly.
The most stupidity I've ever read is, Bitcoin is a religion. :D

Bitcoin is reducing unemployment since the moment it has proportionated people from every corners in the world new jobs opportunities on the internet they didn't have before through fiat, centralization and its payments systems such as Paypal. The percentage of unemployment decreased since then can be debated, but it's undeniable Bitcoin has contributed, even if in minor scale, positively on this matter, and the tendency is that it's going to contribute more and more.

Examples of employment through BTC are freelancers, crypto casinos operators, exchanges operators, blockchain and crypto developers and marketing promoters, including signature campaigners on this forum.

As consequence, Bitcoin has been providing their daily food, directly or indirectly, although to say Bitcoin can eradicate poverty is indeed an exaggeration.

I highly agree, that the proliferation of Bitcoin has opened a new horizon for employment since there are lots of new companies that want to integrate blockchain technology into their system creating demands for developers, programmers, and other secretarial jobs.

Since blockchain technology can maximize the output, and create immutable and modification-resistant data, the process is done in the fastest possible time.  This then can save lots of money with more precise data, reason why many companies are integrating this blockchain technology.

Yeah. Peer Electronic Cash System. As Bitcoin grows, the need for banks will fall and It's a payment system, a global payment system. Bitcoin the way it wants. The proof is that if we have a cell phone and adequate internet support, we can send money all over the world easily and can convert their bitcoins into cash anytime and anywhere.

If the global economy is now powered by cryptocurrency it will help the economy grow but here the government has no control the banking systems are not familiar with crypto. But it is profitable to invest in crypto it is a very popular cryptocurrency bitcoin has dominated the crypto market. It is one of the best cryptocurrencies where investment has a good return potential. Almost every crypto exchange can trade bitcoin and it is the most used cryptocurrency there is no indication that bitcoin will be dethroned in the near future. Whether you or simply want to invest in a single cryptocurrency bitcoin is always a good choice.

We can't say anything positive nor negative about it since we don't test it yet. But let see maybe your speculation might happen since we all know cryptocurrency have big potential to grow, but question is can it sustain the economic growth of the country knowing how big it will crash especially when there's a bear season occur? Maybe for that scenarios they should test out if they plan to have massive adoption to know if there's really a good benefit especially if they want to invest the funds of government to cryptocurrencies.

You pardon me, but are you saying that freelancers did not have Bank cards, PayPal, Payoneer, Webmoney, .... and other money-making mechanisms? Then tell me how they manage, in the absence of normal payment systems to convert then cryptocurrency into fiat money to pay for food, utilities, buy clothes,... ? ?
For example, I can also add that many people, not understanding the essence of what is happening, invested their savings in crypto, and usually at the peak, when it became a trend and everyone knows, and then, due to volatility, lost their savings. And there are many more of them than those who earned money. the problem is that in the speculative market often - the earnings of some are the loss of money for others.....

It is not easy to test this, but I think it will happen one day. We will see how the situation will be when the bear season comes. Maybe the big price drops that have happened until then won't happen anymore. Maybe the Bitcoin price will stabilize. If Bitcoin is accepted worldwide, maybe this will happen.

Today, the volatility of the Bitcoin price makes it more attractive to invest in Bitcoin. So the examples I gave above may take a long time to materialize, or they may not materialize at all.

Cryptocurrency is famous now and are getting attention day by day because in this era population are increasing and job opportunities are still less therefore people cannot keep calm as inflation has made everything difficult.

People only prefer that field which is advantageous for them and in cryptocurrency bitcoin is a famous coin through which investor become able to continue their way of earning in easy way.

I have saw many people who become wealthy just because of acceptance of cryptocurrency and surely their future will be prosperous too as we know that more people are becoming part of it so more fortunate crypto will be for its users.

Of course we all expected this, i mean Cryptos now are far more popular because its also one of the easiest digital currency that you can own , beside many World Class Artist/Influencer now endorsing Blockchain and Crypto products and projects. And dont forget about NFTs .

I am very hopeful for the future of cryptocurrencies but people may move away from crypto due to mediocre decisions by politicians and possible future sanctions. It may be necessary to convince politicians to prevent this. In addition, the crypto market will continue to survive against all bans. To return to the topic, if we want a structure that is fully adopted by governments in 2030, politicians should act on two principles instead of suffocating or eliminating crypto markets with excessive regulations.
One is to ensure that theft and fraud are minimized, as in any financial activity.
The other is to keep the mainstream financial system free from further crypto disruption. While blockchains are clearly designed to avoid regulation, these principles justify regulating the institutions that act as gatekeepers for the crypto world.

But fees, bribes, lobbying "gifts", and the like - they take, favoring the dollar, and sometimes the euro :)

Cryptocurrencies are an interesting TECHNOLOGY, but people need a solution that "here and now" will give them the opportunity to buy villas, yachts, store ABSOLUTELY liquid reserves.... And that's where cryptocurrencies are losing big time.

Cryptocurrencies are nowhere near being on the top level of world economy. Which is a good thing that many people do not realize. While I completely agree that cryptocurrency, especially Bitcoin, is going to become a world economic power and eventually, it will be considered the next generation of money and therefore become legalized in every country in the world as legal tender, and at some point, the one world currency, we are still somewhat off from such a future, that only means that the people who realize the potential of cryptocurrency and invest now, will be the ones with the most profit in the future.

However saying that it has a place at the top of world economics as it is, might not be completely true. (yet)

NFTs are also a new development that has embedded itself into the crypto space so all crypto lovers probably already know about this one and as long as everyone can still make a profit through it, I think no one will forget about it. Because what most people forget about things that have appeared in the crypto space is when they are no longer profitable for many people after there is a better substitute with a concept that is not much different from before.

Well, now new things keep appearing in the crypto space to make things easier for true crypto users, but what is strange is that a small number of people have also lowered their intention to own old things that can still provide benefits for everyone, that is Bitcoin. So I can't stop thinking about people like that who consciously choose something else and sacrifice the Bitcoin they once had. So I think it's a very strange thing because Bitcoin is still far better than anything new, including NFTs.

Perhaps it would be more accurate to say "most people's economies depend on cryptocurrencies" rather than the world economy depending on cryptocurrencies. Because if we compare the world economy with the cryptocurrency market capitalization we are still far from considering that the world economy depends on the crypto market. Moreover, when compared to the current population, it could be said that the percentage of people working in the cryptocurrency sector is not very large - even though it helps the economy of many people, globally the number can be said to be still small.

Of course, as easy as it is in crypto currency transactions, it is not so easy in bank transactions, but in bank transactions you have to face more time and trouble. Transaction fulfillment with low cost is also a great feature. There is no room for fraud in crypto currency transactions, but there is also no room for error, because a wrong transaction can lose your capital, and its recovery is also impossible. So you need to be very careful, while it is possible to rectify such a mistake in the bank.


 It is true that crypto currency is providing a great security option to its investors, but still there are chances of hacking. Exchanges and block chains are often attacked by hackers and there are often reports that hackers have stolen assets from block chains or exchanges. Especially newbies should have enough knowledge about these options and it is very important to learn about these options, because newbies can easily fall victim to hackers. However, the crypto currency industry is trying hard to take better security measures on its part, but on the other hand, hackers are also continuing their efforts, but caution is the best weapon.

 
The banking system has been prevalent in the world since the beginning but not everyone has access to full bank facilities everywhere; Of course, investing in crypto currency is a good option for such people instead of a bank and from here they can earn a good profit. Crypto currency is also easy to access. In crypto currency especially Bitcoin if a country invests in Bitcoin it can be the best decision for its future and Bitcoin can play a very important role in the development of that country,but on the other hand, the banking sector may be affected a lot as capital will shift towards cryptocurrencies.

At the moment, not everyone knows about crypto, but this is very helpful for those who want to earn extra income for themselves, but as time goes by, of course they will teach their generation about how to get and use crypto currency and this will certainly become more Many people know that cryptocurrencies can be accepted in various circles. Of course this requires a long process, but I think one day cryptocurrencies can be used anywhere for shopping.

According to recent statistics, only 4.5% of the world's population invests in cryptocurrencies, which means that people do not depend on cryptocurrencies and the world economy does not even need to exist of cryptocurrency. We are overestimating the role of cryptocurrency in our real world even though it is undeniable that it is providing life-changing opportunities for many of us.

Correct me if I'm wrong, if I remember correctly, our economy is worth $200 trillion and with a capitalization of just $1 trillion. How can it be said that cryptocurrencies are supporting or making an impact on the world economy?

Maybe we can agree to that statistics since cryptocurrency usage is not widely used by many people and its so rare to see some cryptocurrency users on our places that's why we can conclude for now that crypto does not have any affect on economy. Maybe if there's good changes like government adoption and make it a legal tender just like what El Salvador did then we can say that economy has being powered by cryptocurrency. For now we cannot say that since majority of people still doesn't know about crypto and there's less percentage know about its existence.

Cryptocurrency is not powering the global economy and nothing in this brief essay you wrote shows evidence of that. There are only a handful of public blockchains which would be suitable for global adoption but they all face serious scaling issues. As you mentioned, cryptocurrency can offer many benefits and that is why it has been considered by banks and governments but as time passes it seems like they are more likely to develop their own permissioned, centralized digital currencies. These CBDCs might borrow ideas from cryptocurrency but they have removed everything that makes them appealing like fungibility and censorship resistance.