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Reasons why cryptocurrencies cannot replace fiat currency.
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[QUOTE="btaliat, post: 102093, member: 26390"] No one really knows anything about crypto until late 2009. The wolrd was amazed when Satoshi started the block chain and mining of bitcoins started. No one really took him so serious and only few showed him attention. Eleven years after, the people that paid utmost attention and preferred not to be wavered started reaping the sow of their patience hereby encouraging people to pay him more attention. The growth in cryptocurrency has now made some people to conclude that it will soon be accepted globally and be used to replace the fiat currency. This notion made some people to start hoarding their coins for the future purposes. However, from my own perspective, cryptocurrencies can never be used in replacement of fist currency for some obvious reason which are the following: Its volatility won't allow shop or business owners to adopt it as their means of payment. Cryptocurrencies is never stable and will always affect day to day transactions. A coin that is worth $50 this morning may worth more or lesser in the evening hereby jeopardizing the day to day transaction. Ignorance is other factor, some people are still ignorant of cryptocurrencies. They don't know anything about it and don't even bother to know. This set of people will be the stumbling blocks against the widely usage of cryptocurrencies Which other factors do you think? [/QUOTE]
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