Topic: Can cryptocurrencies make physical money disappear? - page 12. (Read 1300 times)
For me it is not possible for near years cause in this case everyone on Earth should have internet connection and possibilities to invest in crypto.
Both can coexist at the same time, cash is important just like cryptocurrencies
Actually it is possible because here we are talking about cryptocurrencies as a whole term not as a bitcoin, eth or any .
I would like to say that if Govt. wants to make nation more digital than they have to implement crypto technology in the county Means ( create own crypto currency ). as we all know the benefits of crypto over paper money, so people would love to use crypto other than paper money. So It would have impact on paper money.
I would like to say that if Govt. wants to make nation more digital than they have to implement crypto technology in the county Means ( create own crypto currency ). as we all know the benefits of crypto over paper money, so people would love to use crypto other than paper money. So It would have impact on paper money.
As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
I think it is possible. Many country had been legalized for transaction, but many country banned bitcoin to transaction. Where we live we must respect our law 
As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
It is not yet possible in the near future to replace physical money with cryptocurrency. It need the full support of government and private sectors to make it possible. There is also a need for wide digital infrastructure support to make it works. Possible problems may arise in the future if it is implemented without any comprehensive plannings.
As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
paper money must be replaces by other coins and this is will happen.
bitcoin not have chance to replace paper money but blockchain will replace bitcoin
Not all places on earth have Internet, so I don't think this is possible for now. However, it's truly convenient to no longer need to carry cash and physical coins.
I have been to some remote villages in some countries on some philanthropic mission before and my oh my, you would not believe some of these guys still do some trade by barter system of trading and I was amused. The truth is that some localities even in some countries are far behind and they have no clue how much things have changed in the real world and some even with internet still are limited as they really do not even know how to make use of it. These category of people will still be in existence for a while, so physical money is something that we should not imagine it would disappear anytime soon.
I don't think cryptocurrencies can replace paper money since crypto currency needs internet to make it useful and not all can access to it so paper money is still needed by many people who don't use internet to make any transactions.
I think this may not be possible because -
1.While over 85% of the world’s transactions are conducted in cash, cryptocurrencies are digital currencies. The total market cap of all cryptocurrencies in use is only $127.5 billion compared to the $81 trillion of all currencies in circulation worldwide. One might argue that cryptocurrencies are currently in their infancy and over time they will be able to gain ground.
2.There are over 1110 cryptocurrencies in circulation vs. only 180 fiat currencies recognized by the UN. There are way too many cryptocurrencies in circulation and these will only increase in the future, making it harder for ease of use, exchange and enough exchange vehicles. All token sellers believe that their coin will be widely used and accepted to buy any service and product but in reality, only a few of them will succeed.
1.While over 85% of the world’s transactions are conducted in cash, cryptocurrencies are digital currencies. The total market cap of all cryptocurrencies in use is only $127.5 billion compared to the $81 trillion of all currencies in circulation worldwide. One might argue that cryptocurrencies are currently in their infancy and over time they will be able to gain ground.
2.There are over 1110 cryptocurrencies in circulation vs. only 180 fiat currencies recognized by the UN. There are way too many cryptocurrencies in circulation and these will only increase in the future, making it harder for ease of use, exchange and enough exchange vehicles. All token sellers believe that their coin will be widely used and accepted to buy any service and product but in reality, only a few of them will succeed.
it cant be happend. a lot of people dont know about bitcoin, and they still use regular money until now. if it change to cryptocurrencies, they will not use it (crypto) and maybe be poorman. except is there much of people who know about bitcoin and share the knowledge about bitcoin to them. and the problem, who want do that?
Yes that is not going to be so easy i think. Fiat currency is the need of the day and all round the world people still using fiat currency, while very few people may be using bitcoin or any other altcoin as optional. In fact still majority of people do not know about bitcoin and those people who know about it they do not have the opportunity to use bitcoin for purchasing everything. Therefore i think fiat currency will survive for a long long time. it cant be happend. a lot of people dont know about bitcoin, and they still use regular money until now. if it change to cryptocurrencies, they will not use it (crypto) and maybe be poorman. except is there much of people who know about bitcoin and share the knowledge about bitcoin to them. and the problem, who want do that?
Yes that is not going to be so easy i think. Fiat currency is the need of the day and all round the world people still using fiat currency, while very few people may be using bitcoin or any other altcoin as optional. In fact still majority of people do not know about bitcoin and those people who know about it they do not have the opportunity to use bitcoin for purchasing everything. Therefore i think fiat currency will survive for a long long time.
Bitcoin is already a big thing. But I don't think it is possible ever to make real money disappear. Not all people are knowledgeable enough about bitcoin. If bitcoin becomes globally accepted, there are chances that physical money may loose it value in a gradual process but this may take years. Its hard to change what people are doing for how many years.
As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
Not possible at moment. But perhaps the cryptocurrencies have the same destination as credit, debit which is the kind of liquid asset in worldwide currency system. Currently just only Bitcoin adoption is between 1 million to 10 million people in the world. So this is impossible, lol
It's quite an advantage to have an alternative mode of payment but some countries are not yet accepting cryptocurrencies as currency. Basically it's imposible for the cryptos to make physical currency disappear. In addition, It is indeed cryptos are making name in this market but not to the point that it can replace the original money that peopl are using today.
i think right now bitcoin can't makes physical money disappear, because right now the bitcoin is the currencies that work online and i think right now people in offline merchant can't accept bitcoin as the payment, because right now the physic money is more powerful than online currencies like BITCOIN, and the other
As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
With current situation, I don't think it will be happening. Look at the price volatility. Its soo unstable that it changes within every hour. Scalability is another issue. Network is very congested and takes hours to confirm transactions. Lets not forget about the fees!As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
That's the only thing we cannot say were cryptocurrency can change the physical money. It maybe or maybe not, but all it depend on the decision of the users who believe in bitcoin. But in some other point there is a possibility to be happen I think.
It can be useful as a parallel currency, in places where the official currency becomes unstable - could be anywhere in the world in a not so distant future.
Right now it rather makes the money of noobs disappear into the pockets of early crypto players
Right now it rather makes the money of noobs disappear into the pockets of early crypto players
As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
I don't think that it will happen soon but maybe it will happen in the future where we are out of paper but we still need money to buy something. maybe we can see in the future, we don't have paper money to make the transaction and only use something to transfer the money like what we see in the movie. so it is possible to see this in the future as the technology will grow fast in the next years.
Cryptocurrencies are mostly similar to money. But the percentage of people access or using cryptocurrencies are beyond limits as far as i know. Maybe as of now only 10% of human livings are accessing cryptocurrencies it is of the reason that cryptocurrencies accessible only by way digital connected with wifi or data globe, smart etc.... So therefore money cannot be replace or disappear because of cryptocurrencies using. My basis is on how the majority of the usage between money and crypto.
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