Topic: Cryptocurrency Will Kill Cash ? Is this True - page 46. (Read 4487 times)
There's a possibility since cryptocurrency is a virtual form of money. In the future, if issues on scalability, transaction delays, etc. would be resolved it might totally replace traditional currency.
Many Say Cryptocurrency Will Kill Fiat Currency and Creating FUD all around the Internet, According to me if this statement is correct then CR.CARD Dr, Card has done this Long back, Cryptocurrency will be used by Smart people in future and many businesses will opt this for fast transaction
It's not easy to kill cash because still many people don't know and understand cryptocurrency and they will keep using Cash.
Whats your view about this
Cash is already being forgotten, as every day in our lives we use credit cards! Especially buying big things like car, house , tv and ect. I don't think cryptocurrency will kill fiat, fiat money also are used electronically, as I mentioned they are on our credit cards! I don't think dollar or euro will disappear from the market as they are supported by economies and government! In time they change as we go by and will get more and more electronically invented. Even now you don't carry fiat cash, but you have a credit card and you can pay everywhere in the world, even if you are a tourist and you put your money of a local currency of your country and travel to another, the card you have automatically exchanges your money! It's not easy to kill cash because still many people don't know and understand cryptocurrency and they will keep using Cash.
Whats your view about this
Now more and more banks around the world see a threat to themselves from the crypto currency. And this is not in vain. Over time, the crypto currency will greatly push the banking system. Many people will understand the advantage of crypto currency in front of the banking system and will leave banks.
Cash will be killed in the near future even without cryptocurrencies, because in our digital world it's not very convinient to use cash.
Indeed, well said.
The world don't need crypto or cash but that's the only tool why we could trade everything.
Imagine debit and credit cards although more people are using it but it didn't replace cash in more aspects.
So therefore, most people in the world start to use crypto and digital money but there are so many instances that cash is more convenient than digital money.
Well said, that outcome is inevitable but it will not happen in near future. Many
countries are slow in accepting new digital era.
Cryptocurrency is unable to kill the cash, because there are many places still no Internet, so in the case of can't connected to the Internet, all Cryptocurrency without any value, that is why cash may not be Cryptocurrency alternative.
Some countries are progressing slow, as I said above! That does not mean that
they will not adopt all new things that people invent in advanced countries.
Cash is not crypto-currency alternative, crypto-currencies are alternative for the
economy we use now.
You are member already, you spent some time here, you should see that. This world
opened new digital era, question is when not will it happen, but this world will be
crypto-world and there is no other way.
Cryptocurrency is unable to kill the cash, because there are many places still no Internet, so in the case of can't connected to the Internet, all Cryptocurrency without any value, that is why cash may not be Cryptocurrency alternative.
Cash will be killed in the near future even without cryptocurrencies, because in our digital world it's not very convinient to use cash.
Indeed, well said.
The world don't need crypto or cash but that's the only tool why we could trade everything.
Imagine debit and credit cards although more people are using it but it didn't replace cash in more aspects.
So therefore, most people in the world start to use crypto and digital money but there are so many instances that cash is more convenient than digital money.
Cryptocurrency could replace cash most of the modern businesses today but not fully.
Remember that they are still people who needs to feed themselves and they're not even know how to use computer and people who still not yet used smart phone.
Those people are using money on their every lives so therefore, the world cannot fully adapting cryptocurrency.
But we are all heading to the future and the future of our money is cryptocurrency so therefore more than half of people would adapt crypto in everyday lives but we can't force the world to adapt it fully.
Remember that they are still people who needs to feed themselves and they're not even know how to use computer and people who still not yet used smart phone.
Those people are using money on their every lives so therefore, the world cannot fully adapting cryptocurrency.
But we are all heading to the future and the future of our money is cryptocurrency so therefore more than half of people would adapt crypto in everyday lives but we can't force the world to adapt it fully.
I don't think that cryptocurrencies killed Fiat. It is more likely for me that they will exist side by side for a long time. If the societies mature to fully accept the digital currency then maybe they will decide to replace fiat money.
Do you think now the societies not mature regarding tjis cryptocurrency? I think all already mature.
Replace fiat by crypto is not about mature but about the use. We will replace fiat if crypto more useful than fiat.
But for now i dont see crypto is more useful than fiat.
Many Say Cryptocurrency Will Kill Fiat Currency and Creating FUD all around the Internet, According to me if this statement is correct then CR.CARD Dr, Card has done this Long back, Cryptocurrency will be used by Smart people in future and many businesses will opt this for fast transaction
It's not easy to kill cash because still many people don't know and understand cryptocurrency and they will keep using Cash.
Whats your view about this
It is not easy to kill fiat currency because it is back up by the government and the central banks. But Cryptocurrency will take a big chunk in financial industry later on. It will also disrupt other sectors because blockchain technology is more efficient, fast and cheaper than the current system today. It's not easy to kill cash because still many people don't know and understand cryptocurrency and they will keep using Cash.
Whats your view about this
Cash will be killed in the near future even without cryptocurrencies, because in our digital world it's not very convinient to use cash.
I don't think it will happen in our lifetime. I am happy to be proven wrong, but the more important thing to consider is...IF it DOES, what are you going to do?
IF it DOESN'T, what are you going to do?
Having a plan in place for any scenario is the best way to prepare, and come out in a better situation financially, no matter what happens in the future.
IF it DOESN'T, what are you going to do?
Having a plan in place for any scenario is the best way to prepare, and come out in a better situation financially, no matter what happens in the future.
I would say that the sequence is more like this;
Cryptocurrency > Digital Fiat > Cash Fiat
It will take a long time until the best implementation of blockchain is made, similarly you can see that digital cash such as credit cards still hasn't completely overtaken cash money. These generational changes take a long time to complete, and we still haven't completed the prior change (cash to credit).
Cryptocurrency > Digital Fiat > Cash Fiat
It will take a long time until the best implementation of blockchain is made, similarly you can see that digital cash such as credit cards still hasn't completely overtaken cash money. These generational changes take a long time to complete, and we still haven't completed the prior change (cash to credit).
This market will not completely supplant the dollar or other paper money, but will take a large market share and everyone will use coins, because it is fast and safe
Not all coin is fast and so we need to understand what the weakness of coin.
Fiat also not that perfect because its difficult to send over the world. But i am sure crypto can not kill cash..
Fiat is supported by the government and banks. I do not believe that cryptocurrencies are able to ever kill Fiat. But cryptocurrencies give people an alternative in their hands. Now banks and the government will have to compete with cryptocurrencies. If they unduly reduce the level of wages in the country, people will use cryptocurrency more. No need to starve or strike. Increasing the demand for labour will contribute to raising the level of wages.
That's the main difference between the so called crypto coins and fiat money; the later is currency and the former isn't!
A currency is supported by a central government, is regulated and paired with other currencies via institutional mechanisms.
No current crypto asset comes even close to the aforementioned definition, therefore it is incorrect to talk about "cryptocurrencies".
In our economic system fiat rules supreme because it is based on commodities like gold and oil.
The main role of crypto/blockchain technologies is to create an alternative way for people to makes transactions; faster, anonymous and without paying banks fees.
But replacing fiat will require a whole new world order and that's not around the corner...
It is likely there is no doubt about it but it is not going to happen in near future. It would take several decades. At present, hundreds of millions of people all around the world don't know about cryptocurrency. But the number of people getting to know about digital currency is growing with every passing day.
cash is turning obsolete anyway. Sweden is already almost there to be cashless society without crypticurrency impact. Whether fiat will be subbed by crypto, we shall see, but cash will disappear
i have no idea what the bold part means.
but i don't think decentralized cryptocurrencies such as bitcoin can kill the centralized fiat. fiat as we know it may change form and become a cryptocurrency but the "cash" or paper money will always exist and be used the same way that fiat turned into digital form with debit cards, credit cards and internet banking but cash still exists.
but i don't think decentralized cryptocurrencies such as bitcoin can kill the centralized fiat. fiat as we know it may change form and become a cryptocurrency but the "cash" or paper money will always exist and be used the same way that fiat turned into digital form with debit cards, credit cards and internet banking but cash still exists.
I have same thought with you, Crypto only kill the centralized banks slowly.
But it seems difficult to vanish the cash.
Cryptocurrency will not kill cash, it would have taken a new era totally to people start using exclusevly cryptocurrency, it could happen in like 50-100 years if we play our card right. But its not going to happen soon, currently we are in very voilatile stage, and people just want a quick get rich, thats why its not going to happen soon, we are not doing our jobs of making it the future of money, we just want profits now now now
Fiat is supported by the government and banks. I do not believe that cryptocurrencies are able to ever kill Fiat. But cryptocurrencies give people an alternative in their hands. Now banks and the government will have to compete with cryptocurrencies. If they unduly reduce the level of wages in the country, people will use cryptocurrency more. No need to starve or strike. Increasing the demand for labour will contribute to raising the level of wages.
That not easy because now so many people dont understand what is cryptocurrency, and also dont know how does it work. Just for example, in my village here, all daily transaction for buy good and service all use in fiat, they dont know about what is cryptocurrency because they think that is fraud and they thinking only money in physical is true money.
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