Each one of us has heard the same, rehashed story about cryptocurrency being a bubble. How it will end shortly, right? Recently, how easy it is to sway a markets confidence with a single Tweet, you know the one. Flip-flopping from one standpoint to the other with little thought for the fallout from their words. With often, apparently, little understanding about what they are talking about each time. Speculation is nothing new. It happens a lot when a new technology is introduced. Have a look at some of the so-called doomed fads that ended up changing the world here. Each emerging technology will always have its nay-sayers. It's your job as an informed individual to find out the facts.
The great Albert Einstein whom devised the Theory of General Relativity was surrounded by contemporary scientists that found it hard to accept the speed of light as the absolute limit to how fast anything can move. Moreover, Albert himself struggled to find completeness in quantum field theory. He was famously quoted as saying in reference to quantum field theory "At any rate, I am convinced that He [God] does not play dice".
A lesson can be struck from this history. Things, most often, are not what they appear. Only by observing and learning can you be sure [mostly] on what to believe. On how to progress. On how to succeed.
Talking about cryptocurrencies and blockchain tech in the same terms as classical finance is not practical. They are both in place to manage financial systems, but that's where the similarities mostly end. Much like comparing quantum string theory with Newtonian physics. Models created for completely different use cases.
We should consider whether cryptocurrencies have a future as a world financial system and what makes them so popular. A huge growth sector for cryptocurrencies is Africa, where traditional banking and financial institutions were thing on the ground and often fraudulently run or corrupt. Many African natives living in states with a national denomination with so low against the US dollar, it's worth nothing. Banking with Bitcoin or whatever is their favourite flavour crypto makes so much more sense to these hundreds of millions of people. The speed of communication has increased exponentially over the past 50 years and emerging economies in Africa and beyond, need these financial infrastructures to support their growth and journey to financial freedom.