Crypto replacing fiat

Trading Discussion
1

Hello All, Does anyone think in our lifetime crypto will replace FIAT currency leaving us forex traders extinct?

If this happens, would we move onto trading metals or even Crypto?

Thanks

2

Hmmmm. :thinking: That’s an interesting question. :open_mouth: But tbh, I don’t think it’s gonna happen within this lifetime, especially since majority of people still have their doubts with it. :thinking: I mean, that’s just what I think. :open_mouth: I’d love to hear what the others think about it too! :slight_smile:

3

This got me curious about it and I found this article. :open_mouth: Hmmm. I may be wrong then!

4

Not sure about totally replace but we have seen a a very short space of time a move away from holding physical money in favour of using cards and phones to pay for things. The idea of the next step going decentralised doesn’t seem so far fetched as the banks have hardly covered themselves in glory in recent times and their offerings are poor compared to potentail DeFi equivelents.

5

I saw this article, and another one both from similar sources (Deutsche banks) and the second one basically says it wont for a long time. Would you be concerned as a forex trader?

6

Thanks for the reply, would you be concerned as a forex trader?

7

No not at all. All traders need to adapt to changes in the markets so this would be another thing to adapt to. Always opportunity with change.

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8

Nah, I don’t think so

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9

As of now, no country has completely replaced fiat with crypto, let alone the whole world. If this is going to happen, I don’t think it would happen in our lifetime.

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