Topic: Do you think cryptocurrencies have the potential to overtake regular currencies? - page 7. (Read 4091 times)
March 23, 2018, 08:31:53 AM
On the question whether Crypto currency would replace other (regular) currency? In my opinion,Yes it would probably overtake the Regular currency only on the Market world. But replacing the FIAT CURRENCY of its country still a long way to go... Crypto is still on the INFANCY stage on the market, yes its gaining popularity but if you look into the News, there is a lot to be consider, issues on Regulation,Banned,Scammers. so i would say, ITS A LONG WAY TO GO BEFORE GOVERNMENT OF ITS COUNTRY ADAPT CRYTO into there normal Trading/Local transaction....
March 23, 2018, 08:11:30 AM
Yes it is possible that cryptocurrencies will overtake regular currencies. And it is already happening now because as we can see the value of bitcoin and ethereum it has a very high rate than other regular currencies.
March 23, 2018, 08:03:11 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?
i surely do,that cryptocurrencies will overtake local currencies,maybe not in this times but will be in future,with the cryptocurrency prices,and the growing market cap,we are confident about the overtaking..though fiats will never gone,its just crypto will be more popular than fiats when that time comesDo you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
March 23, 2018, 07:44:30 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?
i surely do,that cryptocurrencies will overtake local currencies,maybe not in this times but will be in future,with the cryptocurrency prices,and the growing market cap,we are confident about the overtaking..though fiats will never gone,its just crypto will be more popular than fiats when that time comes Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
March 23, 2018, 07:29:39 AM
Actually to make it simple to understand between the two currencies. Crypto currencies are only currencies that exists and live in the cyberworld which it couldn't touch nor feel that kind of currency while fiats money or those currency intended in the particular country will in exist on that particular nations. In that case I don't think if it can overtake since the twi have different usage and purpose
March 23, 2018, 05:18:03 AM
Opportunities do exist, but to do so must require permission from the highest government, like the entire President in the world and perhaps the UN also contributes to it.
If one currency is replaced then the epek will affect other currencies. Doing so is tantamount to fighting the world.
It took perfect preparation to make it happen.
And i think the chances to succeed are 30%.
If one currency is replaced then the epek will affect other currencies. Doing so is tantamount to fighting the world.
It took perfect preparation to make it happen.
And i think the chances to succeed are 30%.
March 23, 2018, 04:54:16 AM
Yes, they do possess lots of features and advantages over traditional fiat currencies. They can be transacted with within seconds, across any distance, and any time, there is no time limit, something that we see a lot in cases of NetBanking. Even some economists are nowadays predicting that bitcoin might just replace some major world currencies by 2023, like the US Dollar and Euro. Also anonymity, security of BTC is much more than traditional fiat currencies, and I think it might be one of the reasons why bitcoins might just get ahead of traditional currencies within the forseeable future.
However to get there, a lot of developing countries have to get their World Wide Web up and running soon and poverty and illiteracy needs to be remedied.
However to get there, a lot of developing countries have to get their World Wide Web up and running soon and poverty and illiteracy needs to be remedied.
March 23, 2018, 03:45:14 AM
I doubt they have such potential. Bitcoin and regular currencies will exist in parallel. National currencies are too important for the existing economies to disappear. Banks and other financial institutions, and governments may (an probably will) use the blockchain technology, however.
March 23, 2018, 03:37:14 AM
certainly the bank will think of ways to compete with blockchain technology, but it takes quite a long time because it takes a process to be able to compete. now bitcoin technology is in the look by some financial companies. they want to know how bitcoin performance through the blockchain system. it's possible that nowadays many countries want to ban bitcoin, but they think about bitcoin sophistication. several reasons are expressed in the country to ban it, one of them is the ease of laundering funds from taxes in bitcoin. I also as a bitcoin lover can only support it and hope there is a good way to overcome this problem.
March 22, 2018, 06:44:44 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?
Nope not gonna happen even for centuries. This is called cryptocurrencies, it s.anpnymous hard to tracked maybe cant be. If it were to happen it would be absird and pure idiocy. All crypto's cant overtake any real/state currency but the price however it has the legality and full potential to be spend.Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
and then we have recognized internet as a primary needs in the last 5 years. the potential are there but not for soon.
March 22, 2018, 06:34:37 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?
Cryptocurrencies will never be the best choice for Government as it is not the best tool to coordinate its economic policies(fiscal and monetary policies) and as such will always look for ways to restrict its use.Government will not able to bann its use fully because it's people-driven neither will crypto fully replace fiats.Crypto use in the future will greatly increase but will not fully replace fiats.they will co-exist Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
March 22, 2018, 06:26:21 AM
What I think is best is that crypto currencies will be working along side the fiat currencies. I never believed that cryptos even Bitcoin can ever replaced fiat since digital currency is for a lot of people but not everyone plus the fact that the governments of each nation will not allow it to happen ever. They will do everything on its power to ensure that they will protect their own currency and will not be replaced by something that is decentralized in nature.
March 22, 2018, 06:10:48 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?
Hi,
I think that most banks and governments are currently trying to undermine bitcoin: through mass media, giving it a bad image; through official announcements, saying that people should be protected from themselves; through regulations making the use/possession of bitcoin illegal.
This is just logical. Because I think those organizations are smart enough and seize the potential of bitcoin. Bitcoin could be their end, as through bitcoin we can get rid of any control authority.
So, yes, I think that ban is a real threat. It won't be called this way but it will be. :/
March 22, 2018, 05:29:48 AM
Cryptocurrencies and regular currency is different in many ways but maybe it takes a long time if this will happen but in my opinion crypto currency can't surpassed paper money because paper money has already established and people are already familiar with this.
March 19, 2018, 11:15:14 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?
Yes there is always a chance for cryptocurrency to get banned in every country, even now there are already countries who are banning bitcoins in their area and maybe those governments are just afraid of their people to get rich quickly and no one will work on the corporate world.
March 19, 2018, 11:12:40 PM
There is always a potential that more people would use cryptocurrency and overtake regular currencies or what we have known as fiat because people who have known it are increasing day by day. However, there is still the problem of having a limit when it comes to accessibility because there are still so many places in the world that have no access to internet in which they can't access cryptocurrencies and render it worthless so they would still use fiat as it has physical form and widely accepted. They would just co-exist and these cryptocurrencies would become more of an asset than a currency.
March 19, 2018, 10:50:12 PM
It is not possible because governments can also make their own cryptocurrency like what the government of Venezuela done. Bitcoin can be fully adopted into the mainstreams and can be use as one of the legal tenders but overtaking regular or national currency is still a remote possibilty. Furthermore, government will not going to allow any virtual currency that is beyond their control.
March 19, 2018, 08:55:33 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?
When you fantasize about "counting your money," you might just have to look at your digital account in the future, because there may be no more money in the future.
Based on the characteristics of digital currency, the direct benefit of digital currency to the central bank is not only to save money issue, circulation and settlement cost, but also enhance the central bank's ability to control funds.
Digital currency has the advantages of lower issuance cost, lower transaction cost, traceability and higher cost of counterfeiting. Therefore, the future of digital currency is a trend.
March 19, 2018, 03:18:51 PM
Actually to make it simple to understand between the two currencies. Crypto currencies are only currencies that exists and live in the cyberworld which it couldn't touch nor feel that kind of currency while fiats money or those currency intended in the particular country will in exist on that particular nations. In that case I don't think if it can overtake since the twi have different usage and purpose.
in my opinion, how each coin has its own purpose, and one does not need to equate yo-yo with real currency. The fact is that if all the coins are used for their intended purpose, then there will not be a single sphere of human life. March 19, 2018, 02:15:35 PM
It's very unlikely, at least in the short period.
Firstly, there is no general acceptance: there is a lot of talking about cryptocurrencies, but they are still used by a limited number of pieoneers.
Second, when banks and governments will realize that there is the risk to lose their power, they will start a real war against crypto.
We'll see.
People are not going to accept bitcoin as massively as that unless they have no option, people are never going to accept the truth unless they are hit in the face by it, people are never going to accept the current system cannot last and it is a scam until they see it with their own eyes and see the economy in ruins, so until that point we cannot expect that crypto replaces fiat.Firstly, there is no general acceptance: there is a lot of talking about cryptocurrencies, but they are still used by a limited number of pieoneers.
Second, when banks and governments will realize that there is the risk to lose their power, they will start a real war against crypto.
We'll see.
They are calling it scam and many others are doing propagandas about bitcoins. It may happen after three to four decades but not in near future.
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