Crypto VS national currency - page 6.

bestprofi

newbie

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Quote from: iSparta on June 24, 2018, 07:47:37 AM

Why crypto cannot replace national currencies? National governments can use their own blockchains and issue national crypto, something like Venezuela did.

It is possible that in one 5-10 years one or two virtual coins will be used in parallel with national currencies. but to replace them totally I do not think it is possible.
We hit the reluctance of a large part of the population.

bestprofi

newbie

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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 am very pessimistic that this will happen in such a short time.

iSparta

member

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Why crypto cannot replace national currencies? National governments can use their own blockchains and issue national crypto, something like Venezuela did.

CryptoLoverz

full member

Activity: 322

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yes, I agree with your writing. everything might happen. Nothing is impossible in this world. but it will not be easy, and it will take a very long time. indeed advances in technology and the internet today already exist in all countries. but in my opinion not everyone can use and utilize technology. there are still many people who are still low knowledge about technology. and they still rely on fiat money as their daily activities. I think it is very realistic for now, if anyone who buys coffee with the money crypto will make the seller laugh. because the seller does not understand about crypto money. but I also believe, in the future, as the growing knowledge of technology and the internet. and more and more people who understand and utilize technology. then crypto money will be more dominant use of society as a tool of any transaction in daily activities.

jaaeeeyyyy

full member

Activity: 434

Merit: 101

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.

South Korea has already launched their very own centralized cryptocurrency known as "S coin". A cryptpcurrency developed for use in investment matters by the people of Korea, if this coin thrived in their local market, it may be able to replace their fiat money in the long run. However, that's not the case I think for decentralized coins like bitcoin.

muhammedb

full member

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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 possible but I don't see this happening so quick because the use of cryptocurrency have not be legalized by many countries, few countries are interested in using digital currency so it will take a while.

ubay

full member

Activity: 728

Merit: 101

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'm sure it will become true for the future, national money or FIAT cannot be replaced by cryptocurrency but cryptocurrency will be complimentary for FIAT.

bravehearth0319

hero member

Activity: 1022

Merit: 500

In my views I think we don't need crypto to replace fiat or national currency, we just need for it to co exist and work with it. Most people here are just converting their crypto to fiat and we can't deny that. Fiat currency is still the currency we use to buy things we want. Maybe one day we can use crypto as currency to lessen the hassle but still people uses fiat money cause its the money assigned and accepted my the many.

cold beer

jr. member

Activity: 168

Merit: 1

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.

rye18

newbie

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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 dont think so if the cryptocurrency can replace the national currency because the market price of crypto is volatile and its hard to use in buying as goods.

Birin016

full member

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Merit: 100

Of course when it comes to using currency on day to day basis, national currency is more usable than crypto, but if you say an asset to earn profit cryptocurrency is better than national currency. So, each of them has it`s own function and advantage.

saumang2m

copper member

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The crypto currency is the virtual money. This currency used in the future. And the government and the bank have no control over any country on the crypto currency. While the national currency is control by the government and the bank. In today's time, about 99% people use the national currency only.

shadyrifles

full member

Activity: 518

Merit: 101

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 growth rate of cryptocurrencies has attracted a lot of attention and it is becoming the rival of National currencies or Fiat currency. The National currencies are backed and being controlled and supplied by government and you can pay taxes using physical paper reserved notes.

Crypto is not a legal tender and it is not backed by any bank or government. it is decentralized and available for global transactions. Soon the cryptocurrency will be recognized global currency, I assume the crypto will replace the Fiat or National currency in future but it is still too early to predict such scenario.

Jimrch

newbie

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I think bitcoin will not be made to be the national currency, national currency will remain for each country, fiat currency is the main identity of country.

heureca

sr. member

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I think that criptocurrency will be widely used as national currency in future. Several countries have already started to develop own criptocurrencies

bitfocus

member

Activity: 532

Merit: 15

every country will have their national crypto eventually, the blessed countries will adapt faster, 3rd world countries will go slow.

chidrawarster

full member

Activity: 406

Merit: 100

I dont think so it wouldnt be replaced as the economies are running based on the national currency appreciation or depreciation.So its very much possible that in the future crypto will be used an alternative currencies in our daily life usage. I have seen many people already using crypto for their payments or expenses or any other miscellaneous stuff pertaining financial needs.I would be happy if the crypto currencies would be regulated so that they gain stability and not create much panic in the future.

raahi

newbie

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The national currency is singular source of measure used for any financial service in the country and goes through banks for international processing, usually which means a certain amount is cut from the transaction whereas cryptocurrency introduces multiple currencies for multiple tasks without any fee cuts.

ganlianshifu1

member

Activity: 392

Merit: 10

I think that countries that have a legitimate cryptocurrency will slowly replace their legal currency with cryptocurrency!
They always walk in front of many countries, leading the advancement of technology and civilization!

Aing

newbie

Activity: 168

Merit: 0

Quote from: Yarsk on June 19, 2018, 01:46:24 AM

Crypto currency is the future of all financial deals and at that before the year 2023 bitcoin is going to be widely embraced to the extent of being use as the dominant currency for all transactions and any one not using cryptocurrency by that time will be seen as an unadvanced and lacking behind in technology, digital currency operate without any hindrance and boundary is not a limitation to it and at that it will be the face choice for payment.

Cryptocurrency will be in the future, but the year 2023 is the year that I think is still in a hurry for bitcoin. There is still a lot of things to be developed from bitcoin. And of course there are still many adjustments that need to be done by a country to implement a policy about bitcoin. Let's say in 2030, maybe that year bitcoin is well-systemized.

Topic: Crypto VS national currency - page 6. (Read 3027 times)