I don't think cryptocurrencies are about to overtake fiat currencies. But that even isn't their purpose.
They are too unstable with too much different limitations and the financial system based on them would be too chaotic. But still they have and will have in the future very importnt rule and with time more and more people will accept them.
Topic: Do you think cryptocurrencies have the potential to overtake regular currencies? - page 12. (Read 4078 times)
January 19, 2018, 10:45:33 AM
January 19, 2018, 10:43:07 AM
Cryptocurrencies have very big potential, but I don't think they would take over regular currencies. This isn't in the interest of banks and governments. It's very doubtful that they would allow this in the near future.
January 19, 2018, 10:11:25 AM
The main idea that backs the statement of " Cryptocurrencies will never make fiat disappear" is that the governments want control over the money, and they can't do it with crypto, unless they control the crypto and then the coin is no longer decentralized.
Fiat is being issued by governments, and fiat helps to bring protection, people needs the protection that fiat brings.
At the crypto world, we can see a lot of people who compares banks and fiat to the evilest thing that happened for the financial industry, and I can't understand why.
Some people need fiat, they need their currency to be centralized, and they need it to be backed by a government.
Fiat is being issued by governments, and fiat helps to bring protection, people needs the protection that fiat brings.
At the crypto world, we can see a lot of people who compares banks and fiat to the evilest thing that happened for the financial industry, and I can't understand why.
Some people need fiat, they need their currency to be centralized, and they need it to be backed by a government.
January 19, 2018, 09:49:30 AM
I believe so, yes they have the potential to do so. That's the beauty of this, anything can happen
and yet we get to play a part of it. It's hard to speculate on certain currencies since it takes some time
and a series of impedements to . The blockchain technology will put everything to the test since it's highly
innovating, we'll just hope and see.
and yet we get to play a part of it. It's hard to speculate on certain currencies since it takes some time
and a series of impedements to . The blockchain technology will put everything to the test since it's highly
innovating, we'll just hope and see.
January 18, 2018, 07:01:00 PM
Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
The potential for cryptocurrencies to replace regular currencies is there but it is never going to happen, governments are never going to allow it and if at some point it seems as if that is going to happen then prepare for cryptocurrencies to become illegal, only when all the financial system collapse we could see something like that happening and even at that point regular currencies will keep on existing since in many parts of the world you still need to use cash for most of your transactions.Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
Banking institutions will really not allow crypto's to take over what they have established for many centuries. That's why you will hear governments all over the world trying to put a halt on the booming crypto industries. It will drastically impact the economics of every government but in a positive manner. But I doubt they have thought about it, what they contemplate is that crypto will take over and make banks and regular fiat obsolete.
If the government support crypto currencies it will definitely overtake normal currencies used by people in the world but it do not possible without the support of government and banks i hope soon it will be possible .
January 18, 2018, 06:56:32 PM
Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
The potential for cryptocurrencies to replace regular currencies is there but it is never going to happen, governments are never going to allow it and if at some point it seems as if that is going to happen then prepare for cryptocurrencies to become illegal, only when all the financial system collapse we could see something like that happening and even at that point regular currencies will keep on existing since in many parts of the world you still need to use cash for most of your transactions.Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
Banking institutions will really not allow crypto's to take over what they have established for many centuries. That's why you will hear governments all over the world trying to put a halt on the booming crypto industries. It will drastically impact the economics of every government but in a positive manner. But I doubt they have thought about it, what they contemplate is that crypto will take over and make banks and regular fiat obsolete.
January 17, 2018, 03:06:23 AM
Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
The potential for cryptocurrencies to replace regular currencies is there but it is never going to happen, governments are never going to allow it and if at some point it seems as if that is going to happen then prepare for cryptocurrencies to become illegal, only when all the financial system collapse we could see something like that happening and even at that point regular currencies will keep on existing since in many parts of the world you still need to use cash for most of your transactions. Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
January 17, 2018, 02:16:24 AM
Yes, crypto currency have the maximum potential to overtake regular currency and this is the reason why some government,regulator and banks are against crypto currency in other to make people believe crypto currency is gamble.
January 16, 2018, 03:19:29 PM
Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
I think as soon as the government comes up with how to take control of crypto, they will immediately do so. The government is not yet up to bitcoin, but I think when most of the population speak openly about crypto, then the government will think about what to do.
January 16, 2018, 03:02:29 PM
Rather than baning cryptocurrency in the name of them being a threat to normal currency is, most likely the government and authirities would create some centrally owned and regulated digital currency of respective countries to tackle and give neck to neck competition to existing cryptocurrency.
Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.
of course, if you pay attention to the practice in Japan, as well as statistics on the promotion of crypto currency in this pleasure, then I think that many users would like to see this in their country. Respect and respect for Japan. But I think that the crypto currency will not be legalized in all countries and there will be a lot of problems with this. Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.
January 16, 2018, 01:29:40 PM
Rather than baning cryptocurrency in the name of them being a threat to normal currency is, most likely the government and authirities would create some centrally owned and regulated digital currency of respective countries to tackle and give neck to neck competition to existing cryptocurrency.
Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.
Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.
January 16, 2018, 01:01:39 PM
I believe it does. If the majority of people have adopted crypto and use it on their daily life, the government won't have any other option but to embrace it to gain people's trust. The technology behind crypto could be very useful in this digital age we are heading.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
January 16, 2018, 12:19:41 PM
The Chinese, Moroccan, Brazilian, Indonesian government are against bitcoin and crypto currency at large because they see it as a threat to their national currency. Therefore, this shows that crypto currency does have the ability to overtake the regular currency.
January 16, 2018, 12:02:03 PM
This could be an option for the future because we all know that we will kill the cash and everything would be online in the future so there is a big chance that we skip the cash and go to cryptocurrency.
Yes because of our adaptation in the technology there is a big possibility that the cryptocurrency in the future would become useful in different countries and many people are benefited for the profit that cryptocurrency can provide but there are policy that the government should be order before implementing this in order to protect the users. January 16, 2018, 03:45:16 AM
Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
if I think the world crypto will not affect the bank or the government because bitcoin is not affected from the politics of a country but some governments or banks remain afraid of the existence of bitcoin because it can interfere with investors who initially invest in banks are now beginning to switch to bitcoin.
January 16, 2018, 03:39:40 AM
I think even the price of cryptocurrency reach the all time high value it cannot overtake fiat even though its value is so high than other currency and gold. Cause we have a different currencies around the globe so its impossible to implement that crypto will replace fiat. Yes it can overtake the valued but the position maybe not. And for sure crpto will remain a very helpful transparent currencies in the future.
January 16, 2018, 02:31:26 AM
It will because the regular currencies need to be converted to another one like dollar and exchangers deduct so much but unlike btc which you can use anywhere once mass adoption is fully implemented.
January 16, 2018, 01:40:56 AM
if youre talking cryptocurrencies like bitcoin and altcoin, it has but it's small. But if youre talking an regular currencies will become cryptocurrencies it's has a potential since blockchain is a new and promised system for financial
January 16, 2018, 01:32:54 AM
Maybe yes if they can regulate it. It will take a long process to do that cosidering that every country has their own currencies
January 16, 2018, 01:32:03 AM
Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
It depends on how banks and governments understand cryptocurrencies. In some countries cryptocurrencies are banned, some legalize and some don't legalize but does not prohibit their citizens from investing or taking part into such digital currencies. For me it is possible for them to implement a ban against crypto but I know that they also think of the possible outcome caused by their actions. Crypto's helps people to have a financial freedom and I don't think if governments are against in that situation but if they will then they're greed. As an investment yes it is a threat because people are switching their money from fiat to crypto. People are holding huge amount of crypto's compared to holding fiat money because they felt safe with their investments unlike the investments in fiat that taxes is always present. Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
Jump to: