It's starting, the dreamed future is playing out

[bhadz]

The jobs will not be out of their tasks, people who owns crypto are also transacting with the banks. So, they become a gateway for the money that flows in and out of crypto or mainly Bitcoin. But we are getting the hint on who's more apt in knowing more about crypto. They're spending it because that's the real use case of it. While it's possible that they're also holding a lot of it for themselves. And yes, we're getting the hindsight of it that more people who's more versed in the technology are spending it for the things that they like to spend whether physically or online.

[casey15]

This is a good report and one that will benefit us in the long run.
We really want that decentralized system to be everywhere where people take control of their money. For for this news I don't know the percentage but I still believe that majority of that crypto accepted is going to be USDT and not Bitcoin, and USDT is a stable coin tied to the fiat USD.  And if that is true, then one way or the other, the government is still in control.
Wether or not it is Bitcoin that is been used, this is a very good start and I really wish to see other countries adopt this too. People will not longer discriminate crypto as fraud currency especially in Africa where I reside

[snowpega]

THE FUTURE IS NEAR

The crypto space can stand against the banking system, but I believe that whatever the rules and regulations are designed for crypto, they will be in favour of banks. In such a way the use of crypto can grow more without affecting/damaging the traditional backing system. And there is no doubt, or no one can deny, that the adoption of the crypto space is increasing day by day, even though it is not allowed in many places around the globe. But its potential is still challenging.

Well, let's see what will happen in the future, and if I have to share my personal opinion, then I would say that the rules and regulations for the crypto space will be friendly and relaxing so that its adoption will increase, and seeing this, many will be able to make money from it and use it as a means of payment for their businesses.

[SamReomo]

CBDC can be a very stupid project in some countries, I don't see the need since there is already an e-version of the currency and we've stablecoins. The government of my country embarked on this CBDC project last year and it turned out to be a total mess. The use cases might not work and it may not even be recognized by the citizens.

It's not wise to compare CBDC's with e money of the countries, those can't be used worldwide but a CBDC version of a country's fiat can be used worldwide as that will be supported on most exchanges and can be used easily as a crypto currency. It's not going to be a easy task to launch CBDC successfully and that's why many countries are still not moving towards it. However, there's always possibility that in future most countries might launch their CBDC's, and promote awareness about the use and benefits of it.

[fuguebtc]

This sounds more like fake news to me, although it comes from Cointelegraph, which is supposed to be a legit source for crypto news.
What do they mean by "crypto"? If stablecoins are considered crypto, then this news kinda makes sense, but I don't think that stablecoins are actual crypto. They are just fiat disguised as crypto. Tether could freeze your USDT at any given moment. What kind of "be your own bank" is this? There are no news about millions of US customers paying for goods and services with Bitcoin(and I do believe that paying for goods and services with BTC, is very stupid). I'm sorry to say this, but the retail sector won't be adopting any crypto payments anytime soon.

That's because you dont consider stablecoins to be cryptocurrencies. But in reality, they are part of this industry, and similarly, bitcoin is just one part of the entire crypto ecosystem
It is true that paying with cryptocurrency is becoming increasingly popular compared to traditional payment method. However, they are adopting and using many different coins, not just Bitcoin.

Many of us make a mistake when it come to crypto adoption, we often assume it means Bitcoin adoption. But in reality, most of them are just accepting other coin.

[CryptoYar]

Although banks are losing customers to new money systems among younger generation, they are fighting back by adding blockchain paths to their apps, basically making regular cash payment item, which moves as quickly as blockchain. I do not think wallet based future will be everybody with hard to use wallet, but it will be future of Invisible Crypto. You pay at store with stable price coin and shop owner gets local cash and bank is quiet. It works at low costs, but is in middle. And we know that top nations where crypto payments are already becoming new normal way are increasing.

[tread93]

THE FUTURE IS NEAR

I don't know about you but this is what I have been rooting out for.



I am patiently waiting for the day where crypto payments is just become so norm that every business owners won't have any reason not to make the options available for their customers.

Somehow I feel this will promote privacy and decentralisation even more, no need for the banks but then again....


Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this?

Will this help Fiat in anyway? Will people not see need to still use Fiat? Will banks start having less customers?

They will try and become custodian of your bitcoin of course. This is already playing out quite a bit and banks are already beginning to embrace and provide custodial services. Any true bitcoiner would never even think to do such a thing as its the complete opposite of what bitcoin even stands for! Its crazy the world we live in today. Its also been a pretty wild ride here the past few weeks/ months for Bitcoin. Today Bitcoin plunged like 6k in what looks like a pretty in sync coordinated dump by all the largest exchanges and major whales..... at the same time Gold plunged  400-800 dollars or so. Silver moved $40 down from an ATH of 120 down to like 80. What the heck is going on right now?

[Abiky]

THE FUTURE IS NEAR

I don't know about you but this is what I have been rooting out for.

I am patiently waiting for the day where crypto payments is just become so norm that every business owners won't have any reason not to make the options available for their customers.

Somehow I feel this will promote privacy and decentralisation even more, no need for the banks but then again....


Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this?

Will this help Fiat in anyway? Will people not see need to still use Fiat? Will banks start having less customers?

This is good for adoption. I mean, mainstream businesses accepting crypto payments through a well-known payment processor is huge. But definitely bad for the long-term decentralization of Bitcoin. Especially when we're talking about "trusting" a company for making crypto payments. I don't think this will affect Fiat in any way. Not when most businesses quickly convert their BTC holdings to Fiat "on the fly". The more BTC payments, the more taxes the government will be able to collect. Everybody wins.

Given that BTC is still volatile, people are going to need Fiat for stability. Not to mention, most jobs are paid in Fiat. And government services accept only Fiat payments. So don't count on "hyperbitcoinization" just yet. At least, it's a good start.

[DanWalker]

CBDC can be a very stupid project in some countries, I don't see the need since there is already an e-version of the currency and we've stablecoins. The government of my country embarked on this CBDC project last year and it turned out to be a total mess. The use cases might not work and it may not even be recognized by the citizens.

You believe CBDCs are useless because you are looking at it from the perspective of the average user. However, if you look at the issue from the government's perspective, CBDC is very important.

If you pay attention, you will notice that most stablecoins are pegged to the USD. If countries become dependent on them, it will only benefit the USD and the US, while harming the value of those countries' currencies and economies. If you were the government of a country, would you still want to use a USD pegged stablecoin that is already available on the market?

CBDCs are simply digital versions of fiat, and if fiat is important and necessary, then it cannot be said that CBDCs are useless.