Is Bitcoin
BTC viable alternative to fiat currency and traditional banking systems? Examining the advantages and disadvantages of crypto, its adoption rates, and the challenges it faces in achieving widespread use as a medium of exchange and store of value.
I wouldn’t say it’s a viable alternative to the traditional fiat system of payment for the fact that it’s volatile and it’s also presently not globally accepted and used. While it may seem as a good alternative, I don’t think it’s feasible at this point. There is a lot of challenges hindering its widespread adoption and use. Lots of these challenges are brought about by the banks and financial institutions who would lobby the government to back them and be against bitcoin.
Bitcoin wouldn’t become a viable alternative to the fiat currency until it becomes widely accepted and used. Only way that’s happening if the government officially legalizes and includes bitcoin as a means of making and receiving payments.
Bitcoin ain't really a viable alternative, it is still decentralized. I.e, not controlled. We know how people fear what cannot be controlled, mostly as it involves cash flow and finance.
I can consider it optionally as a viable alternative only as regards certain sponsorship programs for matches and sports that require huge financial investments.
Like during boxing tournaments, MMA fight matches and other sports that require huge funds.
Unless the government can keep tab on its operation, it will remain secondary to the traditional fiat currency.
