Can cryptocurrency make real money disappear? - page 75.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: MyIdeas on August 28, 2017, 04:05:54 PM

Quote from: Isaacck1 on August 27, 2017, 07:41:52 AM

Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

Its not impossible, but the chances are very very low. Yes, bitcoin's price is skyrocketing due to it's high demand, but still there is a large percentage of the population that doesn't have any idea about bitcoin or cryptocurrency itself. Many people, especially those who are digital immigrants, mainly depend on fiat or paper money. We also have o change the whole system in every country if we want to change our currency.

I believe in this too. Bitcoin’s chances to disappear the fiat money are there, but, problem is that many people still don’t understand and don’t believe on this, perhaps they don’t want to understand about this. It will take some time. More there will be the users of bitcoin, faster will its price rise. The managing systems of countries are changed because of people’s ease. This can happen too.

Yup. Even the kids today are growing up using fiat and won't learn about crypto until they are older and some of their kids will be in the same boat. With that said, it will easily take over 100 years until everyone on Earth uses crypto, but eventually fiat will be faded out in favor of this more modern method of finance.

MyIdeas

sr. member

Activity: 734

Merit: 250

Quote from: Isaacck1 on August 27, 2017, 07:41:52 AM

Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

Its not impossible, but the chances are very very low. Yes, bitcoin's price is skyrocketing due to it's high demand, but still there is a large percentage of the population that doesn't have any idea about bitcoin or cryptocurrency itself. Many people, especially those who are digital immigrants, mainly depend on fiat or paper money. We also have o change the whole system in every country if we want to change our currency.

I believe in this too. Bitcoin’s chances to disappear the fiat money are there, but, problem is that many people still don’t understand and don’t believe on this, perhaps they don’t want to understand about this. It will take some time. More there will be the users of bitcoin, faster will its price rise. The managing systems of countries are changed because of people’s ease. This can happen too.

Answerme2

member

Activity: 108

Merit: 10

Not possible to make real money disappear because you can't make uneducated people use cryptocoins and there are so many of them who don't believe in it.This will change with time but real money will be there as long as there is government.I dream for decentralized government.

giga_999

full member

Activity: 133

Merit: 100

not so fast, but potentially yes, there are many signs and according to the money history and itself history things are changing and very fast in our times

Cryptominia

full member

Activity: 176

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No,but cryptocurrency like bitcoin will help people lives to become more easier.
And we also need fiat currency to make it balance.
Think of this ,before the fiat currency will disappear ,for sure there is a war on it,and i dont want to make it happen,
Better to combine the digital currency to the fiat currency as an optional

aretebit

member

Activity: 84

Merit: 10

All that glitters is not bitcoin

When a king for first time printed paper money banking it for gold no one imagined what will happen. Today is not even just paper or even less, just virtual debt. So we already live in a World without "actual" money.
And cryptocurrency is the next steep because it gives the control to the users.

drubas

newbie

Activity: 57

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From my perspective it is impossible to predict the future!

Too many factors to be considered... :/

Alan Kay: The best way to predict the future is to invent it.

sofi@

full member

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I think no because not everyone can adopt the technology of cryptocurrency and it may become difficult for the government if there is no paper money circulating the market besides I don't think cryptocurrencies can sustain the demand of money in the market

leonair

sr. member

Activity: 1400

Merit: 420

I think not because Fiat money is a national money and every countries has it and it is their identity as a nation and disappearing it and focusing on a one currency will be resulted to a war in my own opinion because the value of the currency of a nation determines their economy.

Isaacck

member

Activity: 207

Merit: 10

I think, for me. NO. Because that's the world's cash. Maybe, Cryptocurrencies may add as a real money but cryptocurrencies can't real money disappear. It can't make real money disappear, that's not centralized and don't have a stable value. But it can add as a real money to use in our world and in industry.

NEUROSEED

member

Activity: 112

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This is quite realistic, but not in the near future.

Hamstead

sr. member

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Quote from: jamids on August 28, 2017, 02:51:17 AM

Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

It is low because there are still so many people in the world who doesn't have access to technology that we are using to access digital money. There are people especially in developing countries that has no electricity so how can they use digital money if there is no way for them to access it. Other places also has electricity but no internet connection. We are still far from the world where there is no actual money.

It couldn't happen, no chance for that expectation. Yes, we need electricity to run technologies including computers, and that machine is the only thing that bring digital currencies alive to fully support any transactions online. If that is missing, then you can do nothing. It better to used both local and digital currencies so you have options which one you prefer in any cases.

TonyMark

member

Activity: 135

Merit: 11

Despite the fact that Bitcoin is an extremely encouraging ware, still I figure it can't supplant the genuine cash. For one, any legislature won't hold anything that they can't control and bitcoin so far as that is concerned is an illustration. It is a decentralized money, which means nobody has an immediate expert over it. Be that as it may, on the off chance that anything comes in the market which has not all that much inflation and to some degree inacorporated with centralized then cryptocurrency will make real money disappear.

jamids

sr. member

Activity: 616

Merit: 252

Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

It is low because there are still so many people in the world who doesn't have access to technology that we are using to access digital money. There are people especially in developing countries that has no electricity so how can they use digital money if there is no way for them to access it. Other places also has electricity but no internet connection. We are still far from the world where there is no actual money.

kirito1614

full member

Activity: 336

Merit: 107

This is something that has come up over and over, despite everything i will need to state that I think the appropriate response will need to be a no on this one. I just by and by can't see a period where the administration permits a rebellious and decentralized coin/digital money to take control over the cash which they have add up to control over inside their nation. Why might they surrender the control that they need and they should have the capacity to completely control everybody inside their nation? I'd be imbecilic for them to do this, and I don't think they'd ever decentralize the monetary standards comprehensively like this. There will be an excessive amount of cash from individuals who don't need this to happen going into congress for this to try and leave Congress with a win for the general population who bolster digital money.

Mi5h0

sr. member

Activity: 560

Merit: 273

No, I don't think crypto currency can make real money disappear. Every single person in the world use their money every second/minute/hour etc. It is impossible to make real money disappear in a few years. Also, a lot of people don't even know what is crypto currency. How do you expect them to use something that they never heard about.
Maybe in the future, in next 20 or 50 years, real money will be replaced with some sort of digital currency but it is not going to happen very soon.

ashfer

full member

Activity: 353

Merit: 100

https://luxantdigitalbank.com/

bitcoins cannot replace real currency because everyone doesn't have idea about bitcoins and there are people in undeveloped countries without even internet facility and i dont think that it can replace real money more over there are not sufficient bitcoins to provide for the entire world

kingkuerti

newbie

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Apart from technical problems of any cryptocurrency that are not going away anytime soon, there's also the problem of adjusting the cryptocurrency to inflation. Without inflation, the economy as it is today would stagnate. It has to be calibrated centrally from data describing the economy (unemployment, export deficit, etc etc).

I could imagine in the distant future every single action contributing to the economy being digitally recorded and then the data would be used to algorithmically adjust the cryptocurrency supply. Could that ever be implemented, I don't know... In theory maybe, but practically I'd guess no, because of the complexity of such a system.

Daniel91

legendary

Activity: 3374

Merit: 1824

No, I don't think so.
There are many differences between cryptocurrency and real money.
There is no real bank or country behind cryptocurrency.
Everything is decentralized and nobody have control in, for example, bitcoin network.
So, can you imagine that some businessman send large amount of bitcoin and someone stole this money?
He can't complain to any bank, country, central bank etc.
Do you really think that anybody will accept such scenario?
No way!
Because of it, there is no way that bitcoin or any other cryptocurrency will replace real money.

Akash1243

sr. member

Activity: 392

Merit: 257

I don't think so that crypto currency could ever make actual money disappear for very long time as the crypto currency are developed very recent and many people doesn't even know about them.And actual money differs a countries currency from other countries currency as both currencies are different which depends on a country's status.

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