Can cryptocurrency make real money disappear? - page 86.

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Quote from: mk4 on June 13, 2017, 03:40:33 AM

Quote from: isabella01 on June 13, 2017, 03:38:16 AM

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

Low. I think personally that cryptocurrencies wont make FIAT useless, but I think that cryptocurrencies will work hand-in-hand with FIAT money. Especially in countries like the United States, and the other first-world countries; I don't see FIAT going anywhere soon.

In addition, bitcoin was not supported by government unlike to fiat. It was backed up by government have a permission on using it. Even bitcoin can help people to make real money, still it cannot make fiat disappear.

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Quote from: inck on June 13, 2017, 03:51:33 AM

Quote from: isabella01 on June 13, 2017, 03:38:16 AM

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

Well, fiat money is given out by financial institutions that are big in size and are backed by the government. They make their earnings by charging fees for transactions and they will do everything to stay competitive. So I don't think that fiat money will be gone completely in the near future.

It wont never happen because the fact that real money was stronger than cryptocurrency. It was supported by the government unlike the cryptpcurrency, but i believe that cryptocurrency can help people to provide more fiat by just converting it and withdraw it any bank.

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Relatively very less as of now,replacing paper currency is a really major task for any country ,because before paper currency was adapted ;gold ,silver,perhaps even iron was used as a form of currency,most of the countries found it difficult to adapt to paper currency especially US as they had some kind of policy of only using gold as their currency but finally in the late 1970's they were able to overcome that situation.So it depends on people of the current generation on how they see cryptocurrencies.

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Quote from: isabella01 on June 13, 2017, 03:38:16 AM

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

there are reason why bitcoin cant replace conventional money .. firstly bitcoin transaction is cant be traced so if there any bad guy using bitcoin for evil things we're all be doomed , secondly its hard to implement bitcoin price as well as making it a physical coin lol , so its just better with current money alongside bitcoin as utility

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If no fiat, the country can be collapsed, fiat is the main structure of economics, the government control fiat to control the inflation rate, with no one control this thing the inflation could run out of control and because the government cant controlled the crypto currencies so a country cant only depends on crypto currencies, a country need fiat to stabilize the economics

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The original money will not be replaced by digital money, the many advantages of real money, how you use digital money when in a remote area or no internet connection, it is impossible to buy goods with digital money will be the only option is real money, wherever there is Advantages and disadvantages of each, digital money is simple but it can not be fully useful in the conditions that I said earlier

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Quote from: djimbim0 on July 01, 2017, 08:24:16 AM

Without real money, the world will not exist, because an alternative currency is needed in the event of an emergency. Crypto-currencies still need to adjust the speed of operations and distribution around the world.

The world will not exist without real money? How about those hunters before and they are only thinking what food to eat? It should be modern people can't live without real money. But in this generation when people treats bitcoin as real money we can adopt it but I don't think that we will see real money will be disappearing soon.

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Quote from: djimbim0 on July 01, 2017, 08:24:16 AM

Without real money, the world will not exist, because an alternative currency is needed in the event of an emergency. Crypto-currencies still need to adjust the speed of operations and distribution around the world.

I agree with what you say. Real money should still exist because some places that have not received facilities and infrastructure certainly can not use bitcoin / altcoin. Real money will survive because there are still many people who need it.

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Without real money, the world will not exist, because an alternative currency is needed in the event of an emergency. Crypto-currencies still need to adjust the speed of operations and distribution around the world.

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Quote from: chocolah29 on July 01, 2017, 07:48:09 AM

Quote from: khaled0111 on July 01, 2017, 06:07:43 AM

due to technology improvement and the spread of internet one day or another there will be no more need to use papers, everything will become virtual. take credit card as example, 50 years ago, who would think that we will use a magnetic card to pay bills or buy goods!!!

Nah I don't think so.
Yes credit cards are created and widely use, cryptocurrency is growing and had been talking by many but it's not yet enough to replace real currency by these. It would be better if cryptocurrency will just add in our currency. Like an additional currency, so we have a variety to choose from to what we comfortable using. It's the least we can do.

The paper money maybe disappears, but the real money will not disappear. To calculate the value of cryptocurrency we need real money if it is not there means how can we calculate the value of cryptocurrency. That is why everything will be digitalised, but the real money will never disappear.

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Quote from: khaled0111 on July 01, 2017, 06:07:43 AM

due to technology improvement and the spread of internet one day or another there will be no more need to use papers, everything will become virtual. take credit card as example, 50 years ago, who would think that we will use a magnetic card to pay bills or buy goods!!!

Nah I don't think so.
Yes credit cards are created and widely use, cryptocurrency is growing and had been talking by many but it's not yet enough to replace real currency by these. It would be better if cryptocurrency will just add in our currency. Like an additional currency, so we have a variety to choose from to what we comfortable using. It's the least we can do.

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Quote from: Kevin77 on July 01, 2017, 04:44:16 AM

Quote from: nejibens on June 29, 2017, 12:18:31 PM

I don't think that crypto currency will make fiat disappear, at least nowadays because most people and governments still using fiat as main currencies. But in the future everything is possible.

Yes, bitcoin is not here to disappear fiat. Bitcoin is created as online currency, which can be use for online shopping anywhere, without changing it to any other currency, but in fact the new generation it giving more preference to online shopping and business and therefore they are giving more preference to online currency and I think if the trend will continue it will certainly reduce the use of fiat currency but I do not think that we can quit the use of fiat at all.

Right now this is just a starting. Based on the upcoming generation usage of digital currency we can predict the results of using bitcoin and other digital currencies will make the real currency get disappear. Real currency is a functional part which was used by majority of people across every country. Possibly even if digital currencies gain popularity, this might cause a decrease in usage of real currency won't make real currency get disappear.

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due to technology improvement and the spread of internet one day or another there will be no more need to use papers, everything will become virtual. take credit card as example, 50 years ago, who would think that we will use a magnetic card to pay bills or buy goods!!!

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Of course cryptocurrency can make real money disappear. Moreover, I think that after 5-10 years it will be. Cryptocurrency will replace the usual money there.

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This is maybe question. But if this trend continues bitcoin will take over transactions all over the world, it better and safer and off course we save the nature. But for this to happen will need much more then mentioned in this tread, countries need to cooperate with each other (this will be hard in some cases), but this is near future concept. Think that this is something that all think it can be done but this will be very hard to achieve.

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Quote from: nejibens on June 29, 2017, 12:18:31 PM

I don't think that crypto currency will make fiat disappear, at least nowadays because most people and governments still using fiat as main currencies. But in the future everything is possible.

Yes, bitcoin is not here to disappear fiat. Bitcoin is created as online currency, which can be use for online shopping anywhere, without changing it to any other currency, but in fact the new generation it giving more preference to online shopping and business and therefore they are giving more preference to online currency and I think if the trend will continue it will certainly reduce the use of fiat currency but I do not think that we can quit the use of fiat at all.

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Quote from: isabella01 on June 13, 2017, 03:38:16 AM

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

Yes, it maybe, when some/a coin(s) that enable(s) users to send payment with a small amount of money with no fee or a little bit fee (doesn't affect much to our wallets) appear(s), cash will be no longer needed because people can easily use that coin(s) to pay for real lives instead of real cash

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Quote from: nejibens on June 29, 2017, 12:18:31 PM

I don't think that crypto currency will make fiat disappear, at least nowadays because most people and governments still using fiat as main currencies. But in the future everything is possible.

Yes you are right, we can't imagine a future without fiat. Cryptocurrency will always have some price volatility as there is nothing backing their value like fiat. Fiat will always remain as stable form of payments and money.

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Quote from: davids on June 29, 2017, 06:24:01 AM

cryptocurrency will never make the real money disappear, real money can not disappear because supported by citizen and controlled by the government. some people have the belief that online transactions makes them prone to hackers. Moreover not all places have internet connection

yes i am agree with davids but if citizen and people is not trusting with government, i think they will start to move into other option that can be use for payment that i see in television like UBER Pay or else. as long as fiat is using in all country, then cryptocurrency can not make real money disappear but its possible to be disappear.

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I don't think that crypto currency will make fiat disappear, at least nowadays because most people and governments still using fiat as main currencies. But in the future everything is possible.

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