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The offramp / onramp is necessary so long as we have two systems, we need a gate between the two, even if crypto had 10 times its current level of trading trans
by hirako2000 3y ago
The offramp / onramp is necessary so long as we have two systems, we need a gate between the two, even if crypto had 10 times its current level of trading transactions, as in trading of good or services for crypto, there would still be a large imbalance where more income would be taking fiat in. Adoption is happening, surely less so or far slower in the developed nations like in the US, but is not contracting globally. Unless all fiat currencies were to suddenly collapse, the bridge is needed. And, even if the wildest adoption was to take place, there will likely still be centralised issuers here and there, some countries sitting on paper money which would make off ramping a very long term need.
Interesting comment, I like the parallel with the boomers era. Crypto may just take over once throw genX take over in far greater numbers, get elected, and the few old recalcitrant putting obstacle get cornered.
- seydor 3y agoIf bitcoin was valued, banks would create the onramps. The current, speculation -based exchanges are putting the cart before the horse
- jrm4 3y ago"Valued" is carrying a lot of weight there. Crypto's stated PURPOSE is to get around traditional banks; that banks don't like it doesn't actually equal "not valued."