RE: Will cryptocurrencies replace credit cards and debit cards?
In my country a lot of people still pay with bank notes and coins. Payment with cards are getting more and more popular especially since the contactless function exists. Only few people pay by phone however. I've my own company so I can trace it quite well.
When I think of a few couple of years back. People were laughing at me when I spoke about cryptocurrencies. I was among the few ones believing in them when btc prices were 200$.
When I see now the many possibilities that are available to pay with cryptos, I think that we have a come a really far way already.
The more people become familiar with cryptos, the more it will be accepted because its simply much more secure than cards or cash. There needs still a lot of devlopment.
I don't think that cryptos need cards to succeed. Sending them through phones might be the more efficient option. I believe that the combo phone and crypto will be the way we will pay in the future, even in everyday life.
That is good to hear. Seem to be quite different from China where people use phone a lot to make payment with fiat currency. As cryptocurrencies get adopted more and more, things may change there too.
People still do that to me even now when I tell them that I have invested in cryptocurrencies. Well, they don't really laugh at me, but they give me the look of disbelief that comes with the non-verbal statement, "Why are you so crazy?" embedded in it.
It is in the nature of most people to come to decision based on what "experts" have said instead of coming to their own decision based on their own research. For instance, renowned investors and a few others financial gurus (including Warren Buffet) have ridiculed cryptocurrencies. It will be difficult for most people to deviate from an opinion supported by such renowned personalities. I have read about Warren Buffet's investment strategies and have even followed his strategies in my share market investments. But that does not make me believe everything that he says. Perhaps that is because I come from a legal background where I have seen experts submitting conflicting evidence involving boxes of documentary evidence to support their opinion in a legal battle. Eventually only one of them will prevail proving the others wrong!
Thanks @achim03 for the thoughtful comments.
You point out here a very big issue of our times. It is very difficult to find people who try to build their own opinion. May it be realted to crypto currencies or any other subject. To approach a question and to try to visualise all its aspects and come up with your own answer seems out of date. That is why fake news have such an impact nowadays...