Can cryptocurrencies make physical money disappear? - page 2.

frankybutterin

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“Blockchain Just Entered The Real World”

Quote from: yselacreyo3 on December 24, 2017, 12:56:52 AM

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 do not think that will be possible in this century. Because people who want to use bitcoin, they must at least understand about technology and the internet. But now there are still many people who have not understood and can not use technology and internet that exist today. They can only do their daily activities with physical money. Indeed everything can happen. But it will take a very long time and it takes the emphasis of technological education to people who do not yet understand. If all humans in this world can already use technology and the internet, it may be physical money will be replaced by digital money.

Ishiro5

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We can expect cryptocurrencies to someday take the center stage as the main legal tenders sometimes in the future. But certainly, a lot still needs to evolve about cryptos for us to get to get to that point.

keninu

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Bitcoin and physical money will continue to work as they do. Bitcoin will be a favorite as a valuable digital asset with a very high value, while physical money will also function as a means of buying and selling transactions as happened in these days and before. So Bitcoin will not make this physical money lost from this earth, but they will walk together in accordance with their respective functions.

mackenzie5

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The crypto currencies can be used as a parallel to the official currency like in Japan how they are operating both together. The people of the country is getting the awareness to the merits and the DE-merits of the new coin. Later they will realize that the new currency can be useful both inside and outside the country .So naturally they will prefer the second one for the regular use both in and outside the country . In such a way the physical money can be replaced by crypto currency.

Sirait

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the physical money will not go away just because of the cryptocurrency, I see cryptocurrency is an update,
so even though in future the cryptocurrency will be used, the physical money will be collectibles by collectors, or displayed in museums,
so I think cryptocurrency makes physical money into one of the valuable things to be in the collection, not disappear, but only its use is no longer.

thecoder2017

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We dont know what will happen in the future but i think that paper money will remain because not all countries are experiencing the trend of advance technologies because developing countries are still not familiar with cryptocurrency so fiat money or physical money will remain.

weblouartisan

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Quote from: yselacreyo3 on December 24, 2017, 12:56:52 AM

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 depends on the government, if the government will allow us to use cryptocurrency then physical cash might really be gone for good since most of the people today are relying on digital currency more than physical cash.

valentinen39

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Quote from: yselacreyo3 on December 24, 2017, 12:56:52 AM

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?

There is a huge chance in the future that fiat might disappear if the technology grows even more and most of the people will be interested on using digital currency more than using a physical cash to purchase anything they are interested.

matanglawin

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The Organic Growth Token

Quote from: yselacreyo3 on December 24, 2017, 12:56:52 AM

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 it can make disappear physical money because in the first place you need money to buy crytpos right? And not all people can buy cryptos, there are still people who are computer illiterate and doesn't even know what is bitcoin so it might be hard for them to understand it.

Denifriska

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It looks like cryptocurrencies will not be able to replace paper money. Because the function of cryptocurrencies is for payment and virtual transactions. While there are some transactions in this world that can not be done virtually, but still need paper money to transact.

RokokGudangGaram

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if in my opinion it is very difficult to eliminate the physical currency in this world after the existence of crypto. because some countries would certainly never allow crypto to replace the country's currency, because the paper currency has been used as a symbol of all countries

victorski

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Of curse it can. Physical money would disappear anyway, just crypto is an instrument to make it faster, in my humble opinion.

flower1024

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Quote from: hoanghoatham04 on May 03, 2018, 10:00:41 AM

In the future, I think that could happen. Electronic money is slowly gaining in popularity in many countries. Many countries have created their own electronic money. Maybe in a few years the electronic money will replace cash

Yes now most of the country governments giving instructions to there people to make only digital transactions, stop accepting liquid cash because to stop corruption. But I don't think they will accept cryptocurrency transactions because it will not give any profit to the government.

piterpie

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Quote from: yselacreyo3 on December 24, 2017, 12:56:52 AM

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?

My opinion is that cash and electronic money will exist in parallel. Cash will be used in real life. And electronic money will be used for internet trading

hoanghoatham04

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Blockchain Just Entered The Real World

In the future, I think that could happen. Electronic money is slowly gaining in popularity in many countries. Many countries have created their own electronic money. Maybe in a few years the electronic money will replace cash

minnerETN

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I think not. Electronic money can not replace cash. Because cash has been around for a long time and electronic money is still new and not widely accepted

unknown-user

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Quote from: yselacreyo3 on December 24, 2017, 12:56:52 AM

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?

No, it's absolutely not! No one can replace physical money as it is the way to recognize eaach country and it has value not only the amount but in the manner of culture. And it will be hard for bitcoin even it is popular these days to replace physical money because government will oppose on this because they are the one who produce physical money.

isetter

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It is possible that all countries in the world will accept and use electronic money. I think that by that time the cash will not be needed. All payments will be faster, we will never have to worry about picking or falling money

Visteryy

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Maybe electronic money will make cash disappear. If everyone uses electronic money then I think it would be more convenient to use cash. Because we will not need to bring money when going out

deppil

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Quote from: wack slacker on May 03, 2018, 03:57:41 AM

Electronic money is just a new solution in recent years and it is close to a lot of time to prove its usefulness and convenience. Paper money and coins have existed for thousands of years and their existence has been documented and studied. One more thing not everyone has the means to store electronic money. There are still so many poor people in the world and they have no access to new technologies like us - who are participating in the forum.

we need a very long time to move away from the physical financial system to an online or electronic financial system. actually there are already many developments such as the existence of cryptocurrency, credit cards and many others that support the existence of electronic money. but not everyone can use it for some reason as you say many people are still poor?

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