Topic: Crypto Become Universal Money? - page 3. (Read 715 times)
So far, many countries have accepted the cryptocurrencies but mostly not for the transaction, only the digital assets. however, it has been good moves for the crypto world to be recognized. basically, one of the main reasons for creating cryptocurrencies is to be universal/global transaction manner without any complicated regulation worldwide. And I think that crypto has the chance to be one of the currencies that will be accepted for global payment methods.
it is possible, but I do not think that any of us will be able to alive till this moment. cryptocurrency will definitely take a dominant place in the economic development of the world, but not today or tomorrow
There must be a qualification for crypto that can be considered as a potential choice to be universal money and it's not altcoin. The only coin that has been fulfilling all of the requirement was bitcoin and no more. There was no even a single utility coin in the market except bitcoin.
Crypto IS a universal money, the understanding money is basically what crypto is, you can pay bitcoin and buy 1 kg of apple right? I mean could you technically do it for gold itself? Would be very very hard, you need a very very tiny gold and you need to carry that with you and would be risky, but if you want to buy something more huge, like let's say a house, could you pay in gold? That would be easier, and it means carrying all that much gold. At the end of the day bitcoin is easier, it is harder than digital fiat transfer, that is still easier, but crypto is money anyway in the same manner.
So, at the same time it is universal, you can send money from USA to Japan, you can send it from UK to South Africa, it doesn't matter where you are and the receiver is they will get the money.
So, at the same time it is universal, you can send money from USA to Japan, you can send it from UK to South Africa, it doesn't matter where you are and the receiver is they will get the money.
it is possible, but I do not think that any of us will be able to alive till this moment. cryptocurrency will definitely take a dominant place in the economic development of the world, but not today or tomorrow
There must be a qualification for crypto that can be considered as a potential choice to be universal money and it's not altcoin. The only coin that has been fulfilling all of the requirement was bitcoin and no more. There was no even a single utility coin in the market except bitcoin.
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
I don't think it's possible for all countries in the world to accept one universal money, but it's possible for all countries to support cryptocurrency and use a stable coin for transactions within the country. The universal cryptocurrency as far as I'm concerned is Bitcoin and several individuals and companies accept it as a means of exchange in most countries. The government may not support bitcoin due to the volatility, but businesses and institutions accept it worldwide.
I agree with you, the idea of having a universal money would go pari-pasu with a universal government. I personally won't like to have a universal government in all the world. Crytocurrency could gain greater acceptance in the world and many more people and government may support the industry in the near future. Let's keep our fingers crossed and hopeful for the best.
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
I don't think it's possible for all countries in the world to accept one universal money, but it's possible for all countries to support cryptocurrency and use a stable coin for transactions within the country. The universal cryptocurrency as far as I'm concerned is Bitcoin and several individuals and companies accept it as a means of exchange in most countries. The government may not support bitcoin due to the volatility, but businesses and institutions accept it worldwide.
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
It's possible yet it will take time. Crypto has been existing for years and they have seen how it developed but then some countries are still doubting it. It will still take time to be adopted but it still has a lot to prove to be a universal money. Stability is one of the thing needed to be considered as a universal money and we all know that the value of crypto is inconsistent so it still needs to undergo lots of tests of time.
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
There is absolutely nothing that is impossible in life, that is what science and technology believe. It may not be possible now but it might be in the future. There have been different eras of means of exchange from time immemorial of different countries; started from trade by barter, to cowries, to goldsmith issued coin and so on, so there is possibility that crypto becomes universal means of exchange.
It could be possible as long as that crypto has a lot of countries back up it. The term 'all country' it a bit hard to get since I'm betting there will some stubborn countries won't allow or ban it.
You need to understand that there are extremely challenges to creating a universal money.
Though it is true that the vast majority of countries have a stable economy, there are also a large number of developing economies that suffer from rampant hyper inflation. Some of this is due to corruption, but also due to extremely poor fiscal policy in these countries.
How would these countries that don't even have their own economy under control be able to buy Bitcoin to even make it their country's national currency? It would take an extremely long time, and that's if all the Bitcoin isn't hoarded by the more economically developed countries.
I don't think Bitcoin will ever be a truly universal currency, but it can definitely get close.
Though it is true that the vast majority of countries have a stable economy, there are also a large number of developing economies that suffer from rampant hyper inflation. Some of this is due to corruption, but also due to extremely poor fiscal policy in these countries.
How would these countries that don't even have their own economy under control be able to buy Bitcoin to even make it their country's national currency? It would take an extremely long time, and that's if all the Bitcoin isn't hoarded by the more economically developed countries.
I don't think Bitcoin will ever be a truly universal currency, but it can definitely get close.
It will be good if that could be possible that cryptocurrency becomes universal currency for all the country but there still going to be a problem of accessibility in some locality especially those that in a place where there's no knowledge about internet or digital currency.
it is possible, but I do not think that any of us will be able to alive till this moment. cryptocurrency will definitely take a dominant place in the economic development of the world, but not today or tomorrow
Are you suggesting that countries will treat crypto currencies the same way as their national currencies? I dont get this, isnt the point of crypto currencies is to remain undetected and untraceable?
The crypto can be categorized as security can't be used as a universal payment
If crypto cant be used as a universal payment as you said then Bitcoin is also in that category.It's not all of the crypto are suitable to be used as a universal payment.
Thats correct but almost all altcoin dont have the capacity to withstand the pressure bitcoin was able to overcome during governments fud, bad news and pandemic. However, 95% of all altcoin are fake coin. 
To be honest mostly crypto is still regarded as mode of investment and to make gains, yes it is used for payments and global transfers as well but that ratio is small as compared to the trading for profit. Crypto will become universal money after global regulatory compliance and encouraging atmosphere by govts to use it for payments.
The crypto can be categorized as security can't be used as a universal payment and there was the only bitcoin that can be used to be a universal payment that will be accepted anywhere. It's not all of crypto are suitable to be used as a universal payment. 
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
It was the talk since 2017 but I think this year was more on adoption specially many country has an economic collapse they don't want the paper money they just want is to be alive and safety so there was a possible that the crypto would be the next money or they are going to use the virtual currency if I'm not mistaken there was a atm machine for bitcoin in Hong Kong so we can say that the adoption was started maybe on the next years we don't have paper money we just have is virtual.money that you are carrying on your pocket. 
Yes, everywhere where is the internet and you have the access to the internet - for example, a mobile phone or POS terminal you can accept cryptocurrency. You don´t have any bank or another financial account! Isn´t it super cool? Now you can send money just like a message on Facebook 
.
. It is possible that someday all country accept Crypto Currency and it will become Universal Money?
Currently it has been an universal money, you can spend it anywhere in the world and have values at every places and we don't need anyone's authorization to transact crypto funds then why government needs to accept it?Maybe all people will realize the need of decentralization.
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
Perhaps one day all countries will accept cryptocurrency at least bitcoin. However, this may not happen, but many countries accept blockchain and advanced countries are already working on it and creating their own digital currency.
It is possible that someday all country accept Crypto Currency and it will become Universal Money?
For the fact that the main concept of crypto with emphasis on Bitcoin is decentralization it will be hard for every country to accept it. Crypto can be used worldwide in different aspects or the other but for it to be a universal money is something that might be hard to actualise. Also, although countries will accept it but yet there will be restrictions so as to ensure the government still have a level of authority towards it, however they can not be able to suppress its growth because a coin like Bitcoin can't be stopped from growing.
Jump to: