I'm honestly not sure if it will be any of the current cryptocurrencies, but I truly believe that something similar to crypto will reach worldwide adoption.
I'm from the country Australia, but I live in the United States of America. Transferring money from my own bank account in Australia to my bank account in America is extremely expensive, has really hard limitations, and takes 5-8 business days.
My Aussie bank, the swift merchant and my US bank all take a cut.
If it's a small amount, then I could use something like Paypal... but there is still a delay to get it into Paypal and there is a delay getting it out of Paypal... and they charge a fee, and also their exchange rates are dodgy.
My partner and I are in the US... and until recently, there was no way for me to send her money. I had to send money to an app called Venmo, it would take 4 days, and they'd take a fee... and then she'd have to receive it and it would take 4 days to get it to her bank account.
It should be easier to just go and withdraw the money from an ATM and physically give it to her... but the ATMs have withdrawl limits as well... and if you don't choose the right brand, they'll take a $4 processing fee.
On top of all of that... if any of our banks go bankrupt, then we lose all our money. If they want to charge higher fees, we can't stop them. I haven't earnt any bank interest in years. We have credit cards... but they are expensive, have huge interest rates and you can easily spend too much money, and find yourself drowning in debt.
On top of all of that... the financial markets are super dodgy and hurt people with their shady deals. The 2008 Global Financial Crisis was the fault of the bankers and lots and lots of people who are not bankers all got hurt.
So... compare all of that to crypto. With Steem, I can send you any amount of money, and you'll get it in 3 seconds. Yes, if you want to convert it to your local currency it's a hassle... but if you want to spend it as Steem... you can do it yourself in another 3 seconds. It's incredible!
Crypto is a better system... much better... but there is still a lot of work to do to make it accessible. Once I can purchase groceries and pay my rent in crypto I'll be very, very happy.
The crypto I do have, I don't think I'll ever convert it back to fiat.
First of all decentralized technology is still new to the world. Its market penetration and adoption is still negligible.
With the passage of time as more and more people are aware of this technology, it is becoming more and more popular.
Now even many countries has started accepting this as currency and many other are in the process of adopting.
So in future a more countries will jump into it and it will gain more trust of people. Its value will also increase.
Honestly speaking, crypto has still lot of potential in it. Especially if someone is targeting it for a longer period.
If someone intends to invest in this business, one should be very careful and have proper study of the crypto currencies, which he/she intend to buy.
One should also be very clear which type of investment he/she wants to make i.e short term or day trading, medium term and long term.
It seems that prices are at the lower side and eventually will go up if invested for the longer period. The point here is one should invest only that much of amount which he can afford to hold for a longer period.
If someone is will for short term, he should have proper market research before entering into some coins. It is also advisable to have some market to form an opinion.
Another point where many of us make a mistake is that one should not invest all the money in one coin instead invest should be diversified.
One should not make all the investment at once in one time instead investment should be made in steps.
I think it will but this process is going to take time. Not everyone is in favor of this but once everyone sees the benefits it will gradually become adopted by everyone.
The world is changing and the average person in the street is fed up of being screwed by institutions who want to take a cut from everything they do. Crypto takes them out of the equation and is so much faster as well.
The only thing that needs to happen is the volatility needs to quieten down. people are scared to invest as you can really make a fortune or lose a fortune at the moment. Just holding should bring it back in your favor at some point in the future.
This is why I take Steemit fairly seriously as I don't see 20 c for a coin ,but in my head I see a bigger value. Times will change and it will take time to become main stream.
@Gentleshaid, In my opinion yes for sure. But there is one question, in my opinion which don't have clear answer yet and that is, we don't know or in my opinion it's not sure if in future Cryptocurrencies will stay in Decentralised Ecosystem or Centralised Ecosystem. And we all know that Decentralised Ecosystem is true freedom.
Wishing you an great day and stay blessed. 🙂