Crypto Become Universal Money? - page 2.

carter34

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Quote from: BestEarningTips on July 28, 2020, 03:43:51 PM

It is possible that someday all country accept Crypto Currency and it will become Universal Money?

I don't think it is going to be easy to take off fiat from human life to be replaced by cryptocurrency. Cryptocurrency has some challenges that fiat makes it more easier because you have the details with a third party which is bank but cryptocurrency security or password is easy you can lose it and that is gone for life.

AbNewton

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Technically, we already have some small progress on what you saying. Look at China and their cashless money. Nearly similar to cryptocurrency if it was used at a country scale. I have hope because of that so I think yes, it is possible for one day, cryptocurrencies accepted as the universal money in many countries.

wiss19

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Quote from: BestEarningTips on July 28, 2020, 03:43:51 PM

It is possible that someday all country accept Crypto Currency and it will become Universal Money?

There are countries that might feel it’s not right for them, and they won’t accept them. But despite, we don’t really need every country in the world to accept it, there are already lots of countries around the world that accepts cryptocurrency and that is enough. Then I don’t understand what you mean by Bitcoin becoming a universal money, it will be widely accepted but it’s going to be an alternative to the currency we make use of, and other payment methods there is.

I make use of Bitcoin but I didn’t put all my money there, just those that needs to be there, majority of my money still has to be in the bank and that’s it.

InwardContour

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Quote from: dainoran on August 21, 2020, 04:54:03 PM

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

I've gone through several replies and yours is concise and valid. Some people hope that someday crypto will be accepted by all countries officially, this is extremely far-fetched as governments will try to protect their citizens due to the risk associated with crypto and also protect their national currency since crypto can actually make people use FIAT less if it's allowed to be universal currency per say. Also, it's possible that countries in future will start minting their own national coins on blockchain, but will be stable coins if ever it happens.

taufik0911

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Quote from: dainoran on August 21, 2020, 04:54:03 PM

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

yes some countries are definitely against this but if most other countries approve cryptocurrency as a currency then it's a matter of time in my opinion
but in my opinion cyprocurrency will not be accepted in all countries unless the name is changed to digital asset by changing the name from cryptocurrency to digital asset will change the perspective of each country

Arkann

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Quote from: yulchatar on August 22, 2020, 06:52:50 AM

Quote from: Westfiled on August 22, 2020, 02:33:51 AM

Quote from: dainoran on August 21, 2020, 04:54:03 PM

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

It will never happen as crypto will never able to deal with all of regulations in all of countries. universal currency means crypto will be adopted by all of countries and that means if crypto has no chance to become a universal currency.

If the rules are established, then the cryptocurrency will lose its function of decentralization. But hopefully an alternative will be found. Many countries are already gradually transferring residents to use non-cash payments, preparing them for the digital future. And, perhaps, in a few decades, we will be able to use cryptocurrency freely as well.

The government is transferring its citizens to cashless payments in order to make control over the income and expenses of citizens more accessible and problem-free. With the advent of cryptocurrencies, the monopoly of the state will crumble and in certain situations governments will oppose the uncontrolled use of cryptocurrencies in everyday life. One way or another, cryptocurrency users have yet to agree with the rules for using cryptocurrency within the state, which will be legally established.

yulchatar

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Quote from: Westfiled on August 22, 2020, 02:33:51 AM

Quote from: dainoran on August 21, 2020, 04:54:03 PM

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

It will never happen as crypto will never able to deal with all of regulations in all of countries. universal currency means crypto will be adopted by all of countries and that means if crypto has no chance to become a universal currency.

If the rules are established, then the cryptocurrency will lose its function of decentralization. But hopefully an alternative will be found. Many countries are already gradually transferring residents to use non-cash payments, preparing them for the digital future. And, perhaps, in a few decades, we will be able to use cryptocurrency freely as well.

adzino

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Isn't it a universal currency already? Like bitcoin has no geographic boundaries. It can be used from any place on the earth and can be sent anywhere within seconds (unless the government of that country has made usage of bitcoin illegal, but I doubt they can do anything as long as you don't convert it to fiat currency or have any crypto currency transaction connection with the bank).
So for now it is unofficially a universal currency. Once the government starts regulating it more strictly, it will become an official universal currency.

Westfiled

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Quote from: dainoran on August 21, 2020, 04:54:03 PM

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

It will never happen as crypto will never able to deal with all of regulations in all of countries. universal currency means crypto will be adopted by all of countries and that means if crypto has no chance to become a universal currency.

dainoran

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In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

bitterguy28

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Quote from: TrevorS on August 21, 2020, 03:11:54 PM

What do you mean by cryptocurrency expression? It is enough to look at the current global trends to understand that cryptocurrency is accepted in one way or another in almost every country. It doesn't have a massive reach, but with bitcoins you can find a way to cash or cash in almost everywhere. Will this be the mainstream currency? In the framework of state systems, it is unlikely, because everything depends on the banks. But the possibilities for using cryptocurrencies will expand constantly.

The potentials are high as there are many places and people who already accepting this system, crypto might be a good alternatives

but everything still depends with how government will embrace it, they are the only voice to decide whether things can push thru

around their jurisdictions, for now what you can do for your assets would be the best thing it takes time.

Chukwunonso

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Quote from: BestEarningTips on July 28, 2020, 03:43:51 PM

It is possible that someday all country accept Crypto Currency and it will become Universal Money?

It's possible that cryptocurrency would become a legal tender in some countries. As it stands, I believe that Bitcoin is a universal money, though it may not be publicly accepted, but as far as this forum is concerned and other cryptocurrency forums, bitcoin is a universal money. I haven't seen any cryptocurrency exchange that doesn't list bitcoin as a trading pair to other cryptocurrencies.

@baoli

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Base.protocol

Have you asked why England not using Euro despite being in EU earlier. All country using Crypto is not going to be possible. We still have Presidents and Prime minsters.

TrevorS

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What do you mean by cryptocurrency expression? It is enough to look at the current global trends to understand that cryptocurrency is accepted in one way or another in almost every country. It doesn't have a massive reach, but with bitcoins you can find a way to cash or cash in almost everywhere. Will this be the mainstream currency? In the framework of state systems, it is unlikely, because everything depends on the banks. But the possibilities for using cryptocurrencies will expand constantly.

Kong Hey Pakboy

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I think there is no chance for cryptocurrency to become a universal money while fiat currency is still existing because the government will still support fiat currency over cryptocurrency. Also, there are still countries who banned bitcoin because it is being used in illegal activities like scam, so it would be impossible for crypto to be used worldwide.

CHENIEN

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Decentralized Ascending Auctions on Blockchain

There is a changes if all capital of the nation is unity to accept or access crypto .I think if all chapter has chosen to claim as payment as well I guess I think good dealing to all transaction is very popular.

lienfaye

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Quote from: BestEarningTips on July 28, 2020, 03:43:51 PM

It is possible that someday all country accept Crypto Currency and it will become Universal Money?

Its possible but wont be easy since there are also countries prohibiting or set crypto as illegal. Before we can see crypto (particularly bitcoin) co-exist with fiat, it should be recognized first of each country to have a mass adoption.

It can happen but there's no certain time when can we witness it. For now lets enjoy the increase of merchants accepting crypto as one of their payment method.

bits4books

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Crypto is not a religion but i like it

You can't achieve any universality in the market right now and perceive cryptocurrency only as a way to earn - what universal cryptocurrency are you talking about at the state level? In the same EU, where the Euro is everywhere in use, there are countries that for decades have only promised to switch to the Euro (Hello Poland, Hello Czech Republic) but instead continue to print their internal money and do not want to change anything.
You can answer the question yourself - why do you need a universal currency? And do the others need it? This is some kind of dream on the level of youthful euphoria from reading Ayn Rand than some real development of events

Agios

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This is impossible, if crypto is used as a means of payment or universal money. because every country has rules to protect the economic and financial system, although in countries that accept crypto as a means of payment such as Japan, not all stores accept crypto, only for certain regions and stores. Also international traders have not been able to accept crypto because of its volatile value.

MCobian

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Of course the possibility of crypto becoming universal money is possible, because no one can guess what will happen in the future.
But of course there are several requirements so that crypto can become universal money, one of which is that all countries legalize
crypto as payment tools. If this happens, crypto easily becomes universal money. But this is not easy to manifest, given the government
fears cryptocurrency will replace fiat.

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