Behind the turbulent period that is currently experiencing the cryptocurrency market, it is possible to look for everything from the so-called FUD reports (reports spreading uncertainty and doubt), Chinese regulations, Elon Musk or problems Binance, the largest cryptomen exchange, found itself. However, none of this has changed the expectations of digital names experts about the largest cryptocurrency in the world.
“Hyperbitcoinization” will occur by 2050, experts say
As the portal informs CoinTelegraph, according to a new survey published by the platform Finder.com, there is expected to be “hyperbitcoinisation” in the world of finance by 2050, and thus that bitcoin will surpass uncovered money or currencies issued by central banks.
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Despite the fact that the survey sample consists of “only” 42 experts in the world of cryptocurrencies, the study shows an important fact that even the price drop of bitcoin from its historical maximum in April this year did not have much effect on their prospects for the largest cryptocurrency.
As many as 54% of respondents think that hyperbitcoinization, the moment when bitcoin and transactions in its network become the dominant form of global finance, will come at least by 2050, while one respondent claims that it will happen much later and 44% of experts he does not expect it to ever happen.
A major topic in the world of cryptocurrencies and especially bitcoin is its use in developing countries, which in recent months have been “started” by El Salvador, where the largest cryptocurrency has become a legal currency.
However, according to experts surveyed, the Central American country is just the beginning of the story, and the adoption of bitcoin as a legal currency is soon to be seen in many other developing countries. 55% of respondents say that bitcoin will become the most common exchange tool in these countries, with 33% thinking it will do so within the next 10 years.
Environmental motives will damage bitcoin, but switching to Proof-of-Stake is not the answer
Experts’ answers to questions related to environmental problems, which are the “burden” of bitcoin mining, were also interesting. As many as 93% of respondents expect that the pressure to move towards green energy will damage bitcoin.
Nevertheless, more than half of experts do not think that the move to a “greener” Proof-of-Stake model, which awaits the second largest cryptocurrency, ethereum, is the answer, despite the potential price impact due to the huge consumption of miners. 66% of respondents described the Proof-of-Work model, on which both bitcoin and ethereum currently operate, as a “necessary evil”.
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