Is crypto the next big thing or just an update for traditional finance?

Traditional finance has been around for ages, with banks, central authorities, and governments controlling the money flow. But then came crypto, shaking things up no intermediaries, no permission needed, and total control over your funds. Still, some folks argue that crypto isn’t really replacing the old system but is more like creating a new version of it. Major exchanges act just like banks, stablecoins rely on fiat for backing, and governments are all in with their experiments on CBDCs. So what's actually happening here? Are we seeing a financial revolution unfold, or is crypto just being absorbed back into the system it aimed to disrupt? Personally, I feel like crypto started as a rebellion but is morphing into something in between kind of a mix of freedom and a structured approach. What do you think? Is crypto gonna completely take over traditional finance, or are we looking at a future where they kind of blend together?

When it comes to Bitcoin, it's a more revolutionary system than what traditional finance offers, as it offers direct asset ownership to its holders and allows them to freely manage their assets. Bitcoin's decentralized network allows no single party to control or manipulate the network, and all transactions are transparently recorded on the blockchain. In other words, it's far superior to what traditional finance offers. But if it's about other shitcoins, I don't know, and I don't care what happens to them, because they are different compared to Bitcoin which is decentralized, shitcoins are mostly created for speculative purposes or for short-term profits for their creators.

Just because bitcoin is widely accepted now doesn’t mean we will forget how back then bitcoin was a controversial sensitive topic because governments were against it and only a few people would have known and understood it as opposed to now where almost everyone knows about it.

You are talking about smart contracts that get utilized to create defi which isn't truly decentralized. Those dapps still got your money in custody. If we talk about bitcoin it's true decentralization, permissionless and no middle man. An entire different story if we talk about something else. The revolution is with bitcoin. As for the other blockchain, it's more of incorporating tradfi participants to blockchain and facilitating big institution.

Not a revolution, but definitely an innovation. The blockchain and self custody that it enables are truly original developments in fintech. It might have turned out to be revolutionary had masses of people adopted it instead of mostly big capital with the arrival of ETFs. But not enough people saw its potential early enough, so they got left out.

None of these will happen and not be of interest to Bitcoin, because the existence of fiat cannot be a challenge to it's uses or adoption, they both are currency but serves on different purpose, the people are the ones that are deciding on using bitcoin over fiat because of financial privacy, which we see this itself revolutionizing the financial economy because that is what the people want over fiat system, now time will tell, either to expect Bitcoin alone or both to exist.

I think there will be a merge with time. Entire replacement is not really possible as governments and institutions won't give up control of money totally, but the idea of crypto such as transparency, borderless payments, user ownership, are powerful to ignore. What we are seeing is a blending: traditional finance adopting crypto's tech and crypto adopting certain structure of TradFi for stability. This began as rebellion, and it is turning integration, a hybrid system where both can coexist and get each other influenced.

True, not everyone believed in Bitcoin at first but considering the number of people who has ventured in Bitcoin because of all it has to offer, don't you think even those who we feel were left out can still slowly and steadily join the community. I mean there are lots of goodies attached to Bitcoin which you and I know that makes it far more preferable than the TradFi system.

True, only time will tell if they will continue to coexist or Bitcoin will be there alone, cause right now I don't think anyone who knows Bitcoin very well will choose the fiat over it.

Crypto is becoming institutionalized since Wall Street investors started buying into crypto but let’s be honest, we wanted that to happen as well. There was a time when btc was below $10k and not making any big moves. We literally invited banks and other institutions in so the price could move faster. It used to be a rebel project and now to many people it is just another banking product. Many people buy btc through ETF’s. In the past that was considered a very bad idea but nowadays nobody says anything bad about it. We used to see “be your own bank” quotes everywhere. Nowadays we see them very rarely.

Maybe other crypto coins can merge but not bitcoin. Bitcoin cannot be included since its consensus would not allow a merge with traditional finance, A hybrid model which may be possible is being integrated with stable coins which has its value pegged to Fiat (mostly in US dollar) and laced with lots of regulation can be fit for such integration with Tradefi, some centralized coins too can add to the list. Bitcoin adopting the regulated structure of Tradefi is not going to happen anytime soon.

For me, it will not replace traditional finance; both will stay, just like how Bitcoin was created and is still running and still useful now. People now have the option to use Bitcoin or not, so for me, it's not necessary to replace traditional finance itself. But that's what Bitcoin is just solving most of the problems we have in traditional finance, which is nice.

They all will stay together: fiat currencies, Bitcoin, altcoins; central banks, commercial banks, centralized exchanges and decentralized exchanges, even mixers. It's naturally that in the world, it's impossible to completely eliminate things that can bring freedom to people and criminals always exist on earth so even governments are all against mixers, it does not mean in the future mixers will no longer exist. For things not related to criminal activities, people want diversification, multiple choices and therefore many things will exist together for giving people different options.

Not all cryptocurrencies offer true financial freedom. To be precise, only Bitcoin gives you full control of your funds, entirely free from government or central authority interference. Many of today's other cryptocurrencies are centralized. This means they can be easily controlled and manipulated.Bitcoin, as the original, offers the key feature we all desire, but too few people are taking advantage of it. Some prefer those centralized coins because they seem more stable, but they are missing the bigger picture. Cryptocurrency may not fully replace the traditional financial system. It was designed to be an alternative, which is how Bitcoin was created. They have different roles, so it's unlikely one will completely replace the other.

The main purpose of crypto is to providing an alternative system that being fully permisionless. No one was saying it's gonna replace the centralized and permissioned system that is currently exist now. It seems you're just being fooled to the click bait created by blindly supporter about crypto to replace the centralized system. In fact, crypto can be called as a bridge between permissioned system and permissionless system. The value that went from the financial institutions to the crypto has proven it. This makes crypto may be merging co-exist with the traditional system, and not killing each other.

Crypto would not replace Traditional finance under the watch of the government. Have you forgotten that Fiat is the government tool executing its monetary policies and running the country and is the backbone of traditional finance. Both of them can coexist, those who want to safeguard their funds from inflation and central control can keep it in bitcoin and practice self-custody. Traditional finance and Defi would coexist for a long time. I do not think any of them is replacing the other any soon neither do I envision any merger between them. The only possibility of DEFI having the features of Traditional finance is with the use of stable coins which draws its value from fiat.

As for the first one, we never know yet because cryptocurrency is not yet on its 100 percent adoption mode but a person can still decide whether if they will rely fully on crypto or not. For the second one, there are merging that occur already like banks now supports crypto or an individual also uses both crypto and fiat. Fiat was created first than on BTC but it can be a challenge to crypto because fiat has its own unique properties like it is physical and can be used or spent easily. I agree that bitcoin will be incorporated with banks and governments which does not mean that bitcoin is breaching its own purposes. Until any government controls the core algorithm of bitcoin, I would not call that bitcoin deviated from its purposes. We cannot do anything about participation of a government or bank but in bitcoin's point of view, they are still just another user to the ecosystem.

And even up till now, there are still countries that are skeptical about bitcoin and haven't fully accepted it. However I believe the level of acceptance bitcoin has gotten, is way better than the initial stage. But as at today Bitcoin is systematically edging out the traditional financing system and that is why governments in other not to totally loose out on this technological advancement, they are bringing up CBDCs to try and mimic bitcoin operating system, but it's all to no avail as bitcoin is deeply rooted in it's own revolutionary style.

Bitcoin is not argitating for stability in the crypto networks, instead, all of them have seen how it thrive through and become what they entire world needed, far be it that you discover how bitcoin has been found depending on other coins or networks for it survival, instead they all works towards being in a similar pattern to its patterns, that's why after Bitcoin, every other coins are regarded as altcoins.

We all have different ideas of what the market is finally going to end up doing and to me none of those ideas are that bad or wrong because they'll all mean a success for Bitcoin. If Bitcoin was to merge with the traditional market. That's a positive news for the holders because then their holding wasn't in vain and if cryptocurrency was to replace the current currency that we have, that'll also be perfect for the early believers that invested in Bitcoin on time. The market has always proven that any new developments that gets accepted by the people will always dominate and so far, Bitcoin has being gaining more ground. It's only a matter of time before we all accept that the Blockchain technology is the guarantee way of operating our finances and when that happens, adoption of Bitcoin is going to be the next option.