Crypto VS national currency - page 10.

Dr.Osh

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Quote from: rickn on June 18, 2018, 11:36:21 PM

The feasibility of any of the cryptos traded on the market, including bitcoin, to turn a national currency is minimal.
Most likely a country would adopt its own crypto, as some countries have already been considering.

for most people in this world of course will have a national currency. well, only people who understand using crypto will choose crypto to be developed. it can even be said that currently, only about 30% of people in this world are using crypto.

shashikamal

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Seems you have given a part of answer in your question. As mentioned by 2023, CRYPTO cannot be replaced totally to FIAT in a country or a Union But it hints you that how much Crypto concept is powerful & going to be adopted using Blockchain. As you know the Blockchain will challenge a country's current fiat transactions & Crypto currencies will be used widely by most of the countries. It's not 2023 but adopting such revolutionized technology. Sooner or later Crypto currencies will be used for even small deals by many parts of the world.

rickn

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The feasibility of any of the cryptos traded on the market, including bitcoin, to turn a national currency is minimal.
Most likely a country would adopt its own crypto, as some countries have already been considering.

fernandoelis1

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Quote from: mohammedmattar on June 18, 2018, 11:19:51 PM

Everything is permissible in this crazy world
Regarding encrypted currencies, I said that it future is strong
And many tests and trials have passed peacefully
Indeed, it will have a future role as a recognized payment method in most parts of the world
But to be able to erase the national currency is unlikely, as I see it
At least during this century .. !!

completely agree with you

mohammedmattar

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Everything is permissible in this crazy world
Regarding encrypted currencies, I said that it future is strong
And many tests and trials have passed peacefully
Indeed, it will have a future role as a recognized payment method in most parts of the world
But to be able to erase the national currency is unlikely, as I see it
At least during this century .. !!

Layers318

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Quote from: stryker on May 05, 2018, 04:01:50 PM

I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.

I think both will coexist with cryptocurrencies being more of online payment. The fiat will continue to win the physical payment system. For a total cashless society to come to pass will take a very long time as most people still do not have access to good internet connectivity. Others do not even know how to access the internet.

fernandoelis1

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Quote from: stryker on May 05, 2018, 04:01:50 PM

I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.

It is a tangible reality, in my country a national currency called petromoneda was created to carry out international transactions and use it as a method of economic regulation.

cech makey1

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I think it may happen in the future that cryptocurrencies will replace the local money but i think it will not yet realized til 2023. It's too early to tell, I think it takes many long years to make bitcoin to be adopted world wide because some countries does not trust Cryptos yet. It needs more promotions, spreading more awareness to all the people in the whole world.

kinzey

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Quote from: stryker on May 05, 2018, 04:01:50 PM

I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.

I do not think that crypto can replace national money. Majority of people may be using cryptocurrencies in the future but national money will still be the main currency for everybody. Everybody may recieve payment digitally but fiat will still be the main currency.

callmeback

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Because the crypto currency is not created for it, crypto currency is created as a global currency. not as a national currency. Because the national currency is used in all countries of the world, but crypto has not yet been able to use the legality of all the countries of the world. We can easily determine which country's economy is strong. The standard of the national currency is stable but the value of the crypto can not be endured yet and this is a completely unrealistic prospect. This is impossible, because the national money reflects the state of the country's economy, the crypto currency will not do this.There are many poor people in a country, and they will suffer it, Governments can't control the price.

1goldhunter001980

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Quote from: stryker on May 05, 2018, 04:01:50 PM

I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.

Holding national currency will not make you earn and price is very stable unlike holding cryptocurrency the price is very volatile and will make earn or loss depending on the market price movement.

ginobitcoiner

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Quote from: stryker on May 05, 2018, 04:01:50 PM

I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.

will not, crypto will not be the only national currency regulated by a country because the crypto currency is not created for it, crypto currency is created as a global currency. not as a national currency

setsuna_gray26

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Quote from: stryker on May 05, 2018, 04:01:50 PM

I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.

Fiat monet and cryptocurrency are differ to each other, which means that these two thing has different usage and different advantages to each other, just like bitcoin, it is used in Internet or in virtual world while cash like dollars is usually used in real world to buy and pay bills but also bitcoin can do it too.

at3prizki

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well i think crypto will not be able to replace the national currency yet. Because the national currency is used in all countries of the world, but crypto has not yet been able to use the legality of all the countries of the world. We can easily determine which country's economy is strong. The standard of the national currency is stable but the value of the crypto can not be endured yet and this is a completely unrealistic prospect. National governments would simply not allow such a situation. Besides, bitcoin and aiat money have completely different functions. With the arrival of institutional investors, these differences will be felt more and more.

Mastsetad

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Quote from: sonofliberty on June 05, 2018, 04:35:42 AM

Despite the fact that more and more people have the Internet access and they actively use computer technologies, we still have many countries that are not developed enough which is why resigning for local currencies is not possible yet.

Off course it is not yet so easy to quit fiat currency at all. Even in modern countries where people have access to internet and even they have the facilities to use bitcoin for shopping in their local shops but still they are using bitcoin as an optional currency and still fiat is their main currency.

abonti

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I think the crypto currency will not replace the national currency because the national currency is still in need in a country to be a managed by the government and the bank bitcoin can be used as currency but can not replace on the other hand it happen in futuer.

Nunii

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Yeah. Before any nation can fully adopt crypto they ought to know the risks it entails including the bad people who tend to hack each and every coin and website they want. But surely, in time the world will figure it out and its all for use, for our benefit.

novak hiel

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In fact, this expression has a slightly different meaning, the fact is that it means using crypto currency for payment, it is quite possible that it is a question of using a national crypto currency. I am convinced by 99% that within the next 5-10 years, money based on cryptography will completely supplant conventional paper and electronic money.

Incodium Coin

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This may not be a very good example, but in a country like Zimbabwe, the national currency has lost it's value (skyrocketing inflation) to the extent that the USD and BTC and other AltCoins are more widely accepted. While national currencies are almost always backed by gold reserves in the issuing Central Banks, and therefore influenced by macro-economic policies in those countries, the more democratic and 'borderless' nature of cryptocurrency makes it a better alternative to some national currencies.
Remember, this example is an outlier, rather than the norm.

judejude

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Crypto currency is a virtual money on the other side natioalnal currency is a government and bank control fiat money. Many people will use fiat specially for small things like a coffee.

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