Topic: Do you think cryptocurrencies have the potential to overtake regular currencies? - page 8. (Read 4091 times)

I think it is highly unlikely that if cryptocurrencies will overtake regular currencies. However there’s a good chance for them to co-exist with regular currencies, but most likely with a significant lesser volume of exchange than regular currencies.

In my own opinion, crypto currencies cannot overtake or replace the regular currency. Even though crypto currencies have better features and capabilities compare to regular currency, it cannot replace the regular currency because not all people can have an access in crypto currencies especially the poor people.

It's a no to me, I think cryptocurrencies are big and very revolutionary so to speak. But replacing regular
currencies is a very different ball game. Surely we can safely say that it's massively popular and promising,
with everything that it has going for now, it's like an unstoppable force. I'm a big supporter of cryptocurrency
there is just so much potential in it, but the idea of replacing regular currencies are a bit over the top. Our
so called regular currencies are the basis of our economies and nations. It has served us well, inspired and
motivated a lot of people to financially thrive, invest and establish business ventures throughout the years.

It could. As of now, many bitcoin enthusiast would agree to me when I say bitcoin could revolutionize the conventional currency we are using today. The technology behind cryptocurrencies holds a very high potential and a promising future altogether. Therefore making it suitable for changing the nature of fiat money we use today.

No i am not thinking that . Because many reasons are present which justify my think. No government never want any circumstance which can makes bad effect on their country real currency. Crypto currency user never pay tax and this thing affect an country economy. So this is one of the reasons behind my think. Another reason is Many Businesses, politicians using Bitcoin money transaction facility for transfer their black money and these transaction are can't be track by cyber unit of police. And crypto currency value are volatile in nature and this thing affect investor most. So these are some reason behind my think. 

Yes i think there is, because our world is fast changing from generation to generation and the technology is escalating and advancing at a short period of time and our world become an internet of all things and everything run digitally and crypto currency will be the center of all monetary transaction.

Leave the government. They will never let it happen but see the investments in the bitcoins and altcoins and the overall interest of people and the total marketcap.
If this trend goes on , all the fiat will go into alts and fiat will eventually be finished if all people willing to use digital currency and they buy bitcoins/altcoins with fiat.

I don't think that cryptocurrencies will overtake regular currencies because the government cannot control the crypto and they cannot use tax to get more revenue from the people. but I think the government will create some coin and develop the coin so it can integrate with the blockchain and I heard that they are still learning about blockchain technology.

Judging by the latest data of analysts, the banking system very carefully approaches the current issue of the crypto currency. They are already much more effective and successfully test the technology blokchain. And they will not yield to the crypto currency.

Yes. A lot of people nowadays are adopting to the use of bitcoins and other altcoins. Give another 10 years for cryptocurrency and it will be so widespread that many will be having it. I agree that Bitcoin is an asset since it has a very high value - like gold. What I observe right now is that cryptocurrencies are in competition to the stock market despite its high volatility.


Agreed. The government hates things they cannot control. The government is a big factor in dictating the economic system and once they lose control on the monetary system, prices might skyrocket or break the market. That's why they wanted to regulate the exchanges of crypto to fiat. Just imagine people using crypto, a decentralized currency, how can they properly collect taxes? Taxes are necessary to run a country. It is what pays the government servants like the military, etc. Who's going to fund the government research? If the government will rely on private investors, the whales will make the government a puppet - an equally horrifying situation.

So for the own good of the country, I think governments are doing their best to maintain the current monetary system. The question is, how can they compete to bitcoin, which is currently gaining roots in the global economy? It would be hard, because unlike the fiat system, bitcoin presents a visionary contribution to a utopian order - decentralized, independent, and free.

In my opinion the government would not allow a decentralized system to run the monetary system.

There is no impossible in our new technology. Specially to the very progressive countries. They have a 100% potential to take over the regular currency to crypto currency world. Surely in the future crypto currency will be used more than local currency.

Mass adoption is the biggest hurdle. Majority use fiat and that's what they know best it is going to be hard to convince people with no interest in crypto currencies that it is the future. Over time more will see the benefits of crypto currencies and I think we are more likely to see banks and governments with their own block chain currencies.

Not really. First thing that matters a lot in everything is the population of people that are making a use of it. If lots of people are using it, then there would be higher rate of success. Bitcoin is just an asset anyway, so you shouldn’t expect it to be able to compete with real currencies. No country will allow Bitcoin to take over their currencies or spoil it.

Such thing happening will lead to that country banning Bitcoin for good. So Bitcoin doesn’t have the potential to overtake regular currencies. Even from the name you mentioned, you can already tell that– Regular” which means it is being used more often.

I really think that cryptocurrencies will be banned in many countries especially in those countries which are not very strong economically since they are the ones that are going to be affected first by bitcoin but since they do not have as much strength the ban they impose is not going to be followed as strictly by people as they know they can get away with it.

I'll be honest - as much as I'm an advocate of cryptocurrencies, I don't see them overtaking regular currencies such as fiat. The trouble is that they have too many issues right now and the population is not technologically literate enough. I do see a world where cryptocurrencies are as popular as fiat and run alongside them, but only for specific purposes.

Anything is possible in the world but certainly for some new initiatives in the world you have to control the media while the thing is in the initial phase which in the case of bitcoin is not in the sight. The media and the banking sector, both are giving the negative news about the uncertain future of the bitcoin and that is the reason most of the people are not ready to take bitcoin as a currency yet, but hopefully this will be cleared with the time and in some time (may be a bit later) bitcoin will take over the currency system.

I think that this is not as distant perspective as is commonly believed. Traditional financial institutions in deep crisis and crypto can become their chance to upgrade.

Yes, i do think they can because there was already an example about it, it's Bitcoin, the most valuable currency in this world.

The fact is that the new government of the state has already stated its attitude regarding the crypto currency. at least in their words there are phrases about the national threat to their security.