Topic: Can cryptocurrency make real money disappear? - page 17. (Read 28844 times)
Maybe if some of the cryptocurrency will be legalized, it might be a way to make cash disappear. We can say that cryptocurrency has advantages and disadvantages being compared to real money. Cryptocurrency is very secure in a way that we need the private key before we can interact with it. We must also verify it through email accounts before we can access the crypto wallet. While money on the other hand is very dispensable. If people would be knowledgeable about cryptocurrency i guess it can make real money disappear.
Bitcoin was interested in me from the very beginning, but until recently I viewed the BTC as a very beautiful cryptographic experiment with great potential, but almost without application in real life.
Several years ago, buying or selling BTC for fiat (a "real" currency like dollars, euros, rubles, etc.) was generally a difficult business, but now the times have changed, everything has become much simpler.
Several years ago, buying or selling BTC for fiat (a "real" currency like dollars, euros, rubles, etc.) was generally a difficult business, but now the times have changed, everything has become much simpler.
Over time I believe cryptocurrency will replace modern fiat money as we know it. I would say governments will still have some form of money for quite a while, but there will be viable alternatives for people that wish to use them.
Bitcoin was interested in me from the very beginning, but until recently I viewed the BTC as a very beautiful cryptographic experiment with great potential, but almost without application in real life.
Several years ago, buying or selling BTC for fiat (a "real" currency like dollars, euros, rubles, etc.) was generally a difficult business, but now the times have changed, everything has become much simpler.
Several years ago, buying or selling BTC for fiat (a "real" currency like dollars, euros, rubles, etc.) was generally a difficult business, but now the times have changed, everything has become much simpler.
I think cryptocurrency would exist together with fiat money and would be one of the payment option and there is a slimmer chance to actually replace the fiat money. They will be used as asset always to trade on the network but they will never come to real life application and make disappear the money/fiat currency. Besides that, government will never allow that to happen because it will take decades to change the world's currency and its not good for economic growth.
i think its not possible living with cryptocurrencies, because there are many disadvantage of cryptocurrencies, When it comes to the investment it will not gonna be like those in banks who's not that worthy of your time to get your investments on.
n future everyone will get online. So online currency is ultimate future of this world. But the reason that cryptocurrencies can't eradicate currency backed by central authority is because cryptocurrencies are decentralised and hence are very volatile.Crytocurrency can be better than real money when used for trading through the internet, trading the whole world. But life will be very difficult if the money really disappears.
I think crypto needs more improvements like the internet,gadgets, and other things that you can easily open your Bitcoins acc.For the growth to happen in a sustained manner we need to make continued spreading in a better way. Hope the same will lead for bigger adoption but this never leads to replacing of the real money to get replaced.
It has a possibility but I don't think it would be around this year. Maybe another 20 to 50 years it will be possible because at that time the technology will be better than what we have now.
As money is nothing but a tool that itself holds no actual value other than what we give it, I believe once crypto has evolved, grown, and advanced in the same way the internet did, than money will only become irrelevant. It will not happen over-night, won't happen within months, but if crypto becomes all it can, then it will happen.
Of course there would be money, the only time when there was no money was when people's fiance was done by exchanging items, the question is what will be "money" at that time. I think bitcoin will coexist with traditional payments for a long while before completely replacing them.
I don't think crypto can change or make real money disappear. This crypto will be exchanged or converted to real money which are maintained by the government. I think that's impossible to replace. Real money are used for daily use such as for payments and not all facilities can access internet, so if you are just going to buy a piece of candy and pay through net, that's bit difficult especially in provincial area. In addition, some countries are having hard time on their internet, so they cannot make transactions.
I don't think Cryptocurrency has the capacity to replace fiat money ever. Remember fiat moneys are made, controlled and maintained by big corporate financial institutions and backed up by the government. It is establised and are being used to as national currency but Bitcoin can't be scaled and controlled hence cannot replace fiat money as much as we want to, it's just not going to happen.
Crypto-currency should strongly push paper money, but no more. She can not, in my opinion, completely replace them. There are many reasons for this. A certain part of people for various reasons simply do not want to use crypto currency and nobody can force them. The other part, due to some of its mental or physical deficiencies, will not be able to use the crypto currency. And finally, there are situations when using the Internet can be impossible or the use of crypto currency in a particular case will be impossible.
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I think crypto made not to eliminate fiat / real money. Precisely crypto is made to make easier in financial transactions where bitcoin is especially used as an alternative (although the fee tx now looks quite high) send money from anywhere to anywhere.
There are low chances of being a cashless society. Cryptocurrency works very well with fiat. It's just that the main goal of cryptocurrencies is that you can send cash all over the world without banks & governments offering higher fees.
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I don't think this will happen that real money will disappear in favor of crypto currency because some countries who are not familiar with crypto currencies don't allow this to happen because there are so many things to consider.
Most likely, cryptocurrency and real money will coexist for a very long time, since the level of development of all countries is different, and if in one country bitcoin is something natural, in some places it will be still impossible to pay for purchases and services even by credit card.
I think it seems impossible to happen. Crypto and fiat can exist mutually and that situation is the best.
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