Many still think that cryptocurrency is a bubble, and the entire crypto market can collapse in a very short time. My question is, why in 2024 the volume of transactions on the Bitcoin network exceeded 19 trillion dollars, which is more than twice the figure in 2023? In my opinion, paper money will disappear faster than #bitcoin. And the entire financial sphere will move to the Internet and code.
But there is another side to the question. If money is backed by the economies of countries and their gold and foreign exchange reserves, then the code is not backed by anything. And this is literally invented money from thin air. And the entire crypto market is based on the fact that people invest their own fiat money in it. If there were no people exchanging fiat money for cryptocurrencies, then there would be no cryptocurrencies themselves? And the main beneficiary and recipient of benefits from this is the one who wrote the code (of course, as it is profitable for him), made advertising, attracted fiat money from people who believed in the value of this code, and when the price rises to a certain maximum, sells. And other holders receive losses.
Interesting opinion of the community on this topic. What do you think, is cryptocurrency the biggest fraud of the 21st century, or the future of the world's financial system?
