wrong bitcoin is only accepted because owners get paid in fiat and not crypto as there is an instant exchange@Golden Fleece the idea you pasted makes sense if people only transact real goods and services in fiat currency. The on and off ramps would then be the barrier between crypto and real-world transactions.
However, people are using crypto for cross border payments. People are buying apartments, villas, fine art, fines wines, etc. with crypto. Cryptocurrency is no longer the world of "Bitcoin pizza" or "can you buy a coffee with Bitcoin" that the media push.
There are real threats to crypto (and other media of exchange) in Western countries, particularly in the form of a Washington-Brussels alliance to try to re-assert the hegemony of their currencies. But fiat off-ramps do not in themselves represent the limit of crypto adoption.
Most non-state assets will do so given they can be adequately hidden and secured.I'm not a financial expert but with basically a World War 3 about to start, bitcoin is going to shoot over the roof. And I don't hold any significant amount of BTC (probably just 500usd)
wrong bitcoin is only accepted because owners get paid in fiat and not crypto as there is an instant exchange
Well, this 24-February-2022 is a decisive day for BTC (and all other crypto which follows BTC): If it does not completely collapse in the wake of the current geopolitical crisis it might indeed be here to stay.Crypto came to stay. Something had to replace black money!