Crypto VS national currency - page 45.

Leyss

member

Activity: 574

Merit: 12

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.

Crypto currency can not replace national money for a number of reasons. National money is a reflection of the country's economy and is provided with its gold and foreign exchange reserves and aggregate gross domestic income. The Crypto currency does not have any binding to a particular state at all. In order for all this to work, it is necessary that the states, where they will go to the crypto currency as a means of payment, would unite at least into an economic union following the example of the European Union and together solve economic problems. In addition, if only the crypto currency is used in the country, it will quickly unbalance the economy of this country. These are only visible common problems that can arise. And there will be many such problems. Using crypto currency, it's not just to go shopping or pay for a cup of coffee. Here the problems will arise much more seriously.

iamlds08

full member

Activity: 490

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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.

this is already happening. there are lots of restaurants and coffee shops that accepts cryptocurrencies. in my country, we already use Gcash which is a digital asset though it is not a 100% replaced fiat, having this options now, may lead to future fully digital mode of payment system. 2020 is a good guess i guess.

vv181

legendary

Activity: 1932

Merit: 1273

You miss the point, I believe your thoughts are the Cashless society. I pretty sure in the future the cash usage will be inconvenient and will be replaced by digital money/currency, but I doubt it all depends on the decentralized currency. Many centralized entities especially governors and bankers right now already interested in the blockchain technology.

LanzCoinPress1994

jr. member

Activity: 112

Merit: 1

When considering what are the basic requirement need to use cryptocurrencies;

1. Electricity Supply
2. Internet Access

In 2018, As predict, world population will be around 7.6 Billion. Among them, 4 Billion people have access to the internet. Also, Still Around 1 Billion people live without electricity. Hence, Personally, I Believe It is not an easy task to achieve 100% accessibility with cryptocurrency in 2023.

Another fact that National currencies have trust among people. It hard to make trust about bitcoin. Because of that cryptocurrencies exist in a digital manner. Most of the people will hesitate to believe digital currency as their common money. Hence to replace national currency there should be a massive change in Crypto-World.

Thanks

Ausgewielt

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Activity: 453

Merit: 104

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.

No, I dissagree. Actually cryptocurrency is not so popular yet. Many government still ban bitcoin and many people still don't really understand about it. I think 2023 will still only early phase of adoption, so it will still become an alternative currency for online transaction.

De Suga09

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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.

The value of bitcoin is way way more higher compared to that of our national currency here in the Philippines. Its value is even low compared to the US dollars. And that is one of the advantages of bitcoin that it is not affected with inflation. It has a lot of advantages that people do not recognize now. Its easy to store, easy to transact and even pay or get paid. If I am to choose, I would choose to prioritize bitcoin as an international currency. Although it will take a lot of time, people will definitely benefit from it. In 2023, a coffee would be more expensive than today usong our ordinary currency but with bitcoin, that would nig be the case.

duc4487

newbie

Activity: 131

Merit: 0

Without doubt the national currency can't be replaced by crypto because it takes infuluence directy on national system, currency represent for the power of the goverment, as you can see clearly from the exchange rate of developed countries and developing one. No matter how strong cryto grows, it cannot be suprass the main currency being control by gorvernment that is my opinion

bizarro

member

Activity: 291

Merit: 10

Why not

I have heard that somewhere, forgot where actually, there is already a well functioning system of selling and bying only for ethereum!

bitcoinVPSD

full member

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This is quite interesting but I think it will not happen. Because electronic money can not meet all payment needs. We need to use traditional money to pay for daily payments. Not everyone has the knowledge of electronic money. Ordinary people still need traditional money to pay money for their own purposes.

ratnawide

newbie

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Merit: 0

will not, crypto currency like bitcoin will never replace the national currency. because the national currency in the form of fiat currency has a very strong legal position in the country

Agapelove

member

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Merit: 10

Maybe in the far future people would seem to use digital currency like cryptocurrency regularly in making transaction rather than fiat money. The world is on the path where technology improves our lives better each day. For the use of currency, its for everyone's convenient if we can use digital money safely for example cryptocurrency like a daily basis, this will be our new custom to our lives.

humanCNC

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Activity: 122

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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.

crypto may become a new trend in the future economy as a means of payment, but to be able to use crypto for daily expenses, we probably need more than the changes both infrastructure and money market structure. For example, it needs more than automated crypto trading machines.

Labajah

newbie

Activity: 130

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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 believe in a cashless society where either people will use card or their cellphone (e.g. credit cards, debit cards, apple pay and etc.). but i doubt cryptocurrencies replacing a national currency. national currency or mostly known as fiat currency is currency that a government has declared to be legal tender. Cryptocurrency is not legal tender and not backed by a government.

Juggy777

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Merit: 686

No Bitcoins will never be able to replace national currency rather it'll supplant them, and grow with them in tandem. Look at Japan for example, bitcoins is legal so is yuan both are equally valid and simultaneously used. I would prefer this kind of module only, as this is a stable model for all countries to follow and adapt quickly.

crocozino

sr. member

Activity: 420

Merit: 250

Quote from: Xester on May 06, 2018, 12:06:08 AM

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.

Crytocurrency will not replace the national currency. But cryptocurrency will be allowed to be used as a medium of exchange in exchange for goods and services given the fact that the said cryptocurrency is backed up by the national currency. There is no stand alone cryptocurrency and it is observable today that altcoins is backed up by bitcoin and bitcoin is backed up by the US dollars. Thus without the US dollars or any of the national currency the cryptocurrency market will die.

kinda agree with this point of view.. the other point is that in general, while national currencies usually are subject to inflation, bitcoin could give more value during the year instead.. which makes it extremely appealing for money saving purposes.. all in all, I think future cryptocurrencies will be really popular anyhow.. because the technology behind it very advanced

poletando

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Activity: 364

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PlayGame.com

hahahah, its too much i think crypto will makes the economics of the country changes, but i dont know about crypto in the future, is tit used by people to be their daily currencies or not, there are many factor thats makes cryptocurrencies is not become a daily currencies, first there are country that don't accpet cryptocurrencies, it will makes other country think twice about using cryptoucurrencies in their country, second is i think in the next year or more there are new currencies that more better than crypto in secuity, effecient and other

evermak

newbie

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I do not know the situation in developed countries but in my country crypto still has a long way to go. People still like to use cash only for offline transactions.

bubblebubble

member

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Merit: 23

I am pretty sure that cryptocurrencies will replace national currencies. Think about to bitcoin use in many ecommerce and remember of what happened ib Venezuela when a lot of people bought bitcoin to preserve value of their money by hard deflation.

Xester

hero member

Activity: 994

Merit: 544

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.

Crytocurrency will not replace the national currency. But cryptocurrency will be allowed to be used as a medium of exchange in exchange for goods and services given the fact that the said cryptocurrency is backed up by the national currency. There is no stand alone cryptocurrency and it is observable today that altcoins is backed up by bitcoin and bitcoin is backed up by the US dollars. Thus without the US dollars or any of the national currency the cryptocurrency market will die.

bungsoh

full member

Activity: 237

Merit: 100

Not quite right like that in my opinion. Because, in my opinion, the Crypto Economy, International Economy (Worldwide Interagency), and National Economy (Per-State) is like a single ecosystem. Support each other. Therefore, it is not appropriate for Crypto lovers to insult or vilify the national Currency (Fiat or Physical Money). Vice versa.
Let the cryptocurrency (our pride) and Fiat Currency run on their respective paths. We create harmony, mutually supportive cooperation. Crypto is legalized without removing Fiat Currency. Let the world community choose which currency they will use. Sorry, this is just my thoughts.

Topic: Crypto VS national currency - page 45. (Read 3028 times)