Do you think cryptocurrencies have the potential to overtake regular currencies? - page 9.

BlueStackz

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Quote from: winterland on March 04, 2018, 12:58:53 PM

Quote from: Andrej Peiboski on February 22, 2018, 06:54:45 AM

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.

Shortly, it is hard to be implemented. Majority of us want this to be practically happening but this would be ending as a dream. No one can replace fiat money with bitcoins. Reason is obvious and you already told it that people are not accepting new system.

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.

buternasek

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maybe here you are thinking, if one day crypto money can replace the position of paper money?
the answer is impossible, because there will be no state government willing to change their old payment system with a new one. let alone whit bitcoin.

winterland

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Quote from: Andrej Peiboski on February 22, 2018, 06:54:45 AM

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.

esa2782

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I think yes, it is like asking a question about digital and manual, do people think digital system will replace manual system? eventually yes, but not that soon, until everybody is interconnected and rely on digital system, which mean they have to use the crypto system of exchange.

barontamago

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I don't think that bitcoin will overtake fiat currencies because the government will not allow bitcoin to take place of their fiat currencies because they cannot control the bitcoin because nobody controls it unlike their fiat currencies that they can control

Xester

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Quote from: Count Basie on February 22, 2018, 07:41:28 AM

I think the cryptocurrencies have excellent chances to become real money in about 15 years from now

You mean physical money? Then what is special with bitcoin if it becomes a currency a tangible one. Bitcoin is a digital currency and its potential is very high. It can do greater than our fiat money. Maybe some country will use it as alternative to their currency because it has the potential but no so soon I guess.

JoshMart

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The Experience Layer of the Decentralized Internet

For me crypto currencies are not really here to replace fiats, they are options that we can use, they can work along side of any fiat currency, they can co-exist. I think it is best for the people to have options on what they really want to use. Besides I don't think any government will allow anything to replace their fiats.

Count Basie

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I think the cryptocurrencies have excellent chances to become real money in about 15 years from now

aimey

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Quote from: Highryder on August 13, 2017, 10:00:01 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?

Issues with regards on the world's financial stability is always under the shadow of doubt. Yet crypto currencies has enormous possibility to thrive in the international financial affairs if the super power countries which holds the control and have power to dictate the flow of the vast financial system will allow this kind of effective monetary system then it will be so.

I think most of the giant and localized financial institutions such as international banks, central banks and other financial conglomerates are working together and do essential measures to foster stability and not to hurt but to enjoy the benefit of being strong mutually with its counterparts one of which is the crypto currency.

Cryptosaphire18

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Quote from: Andrej Peiboski on February 22, 2018, 06:54:45 AM

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.

Normally when you use local currency in your country, you have only one. So the same thing will happen with other cryptocurrencies such as Bitcoin.There are a LOT of cryptocurrencies out there. Some are traded and used as currencies, but none have the potential to overtake regular currencies even though Bitcoin is now mostly like the standard cryptocurrency.Regular currencies has its own protocols that give rise to a different monetary policy which appoint a bunch of clever people and tell them to stabilize inflation using interest rates and bond-buying. Considering a money supply rule that does not respond to shifts in money demand generates large fluctuations in prices. And since society tends not to tolerate outright declines in wages, these fluctuations often carry over into unemployment.

Andrej Peiboski

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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.

burdagol12345

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Quote from: Highryder on August 13, 2017, 10:00:01 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?

Theres a big possibility that this all new cryptocurriencies going inside in the market change will surpass or overtake those major cryptocurriencies in terms of value and popularazation,but all of this is depend on the developer of the new altcoins on how there platform project is would become demand coins of all bitcoiner in the world of cryptocurrency bussiness.

Saveplus

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As a realtalk cryptocurrency would never replace fiat currency as long as government regulating it they would never implement decentralized transaction in their law.Government are wise thinker of recognizing digital currency they want to have an authority on it but its hard for them to regulate it because it was decentralized.

winterland

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Quote from: wewe123 on February 09, 2018, 08:07:49 AM

Quote from: winterland on February 06, 2018, 07:53:05 PM

Quote from: last7minutes on January 11, 2018, 12:14:11 PM

I do not think that bitcoin can be considered a substitute for conventional currencies, since everyone uses it as an investment asset. I think the state equates him to such an asset as gold.

Not yet, since bitcoin cannot be used to buy anything in my country but that is going to change as time passes, it will not be a complete substitute for most people but for people in the forum that have held bitcoin or a long time there is the possibility that bitcoin in the future will become the only currency they use and they will be able to avoid fiat in all its forms, that day is very far away but chances is that will become a reality in the next decades.

As of now it cannot be applied yet because the government don't recognize it yet, but as soon as the grown up technology be scatterd to every country that can be applied by bitcoin then there is possibility that cryptocurrency can potentialy takeover the current regular currency in the near future.

The will of the government is not everything and it is not absolute, if the people in the country want to use bitcoin as a currency they will do so, the government can only try to regulate it after that fact, that is the way everything works, governments do not develop anything they are always behind the curve when it comes to legislation, right now not many laws are being created about this because people are not using bitcoin like that, that is why most of the regulation has to do with exchanges and trading.

robotrobert

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Quote from: ghost424 on February 15, 2018, 06:37:50 AM

Cryptocurrency will not overtake and change the regular currency that we use. Regular currency is what we use in our daily lives that is fiat money and fiat money is hard to exchange into something else because you need to know whether it will be profitable in the transaction you will do.

Uuhm… I don’t think that cryptocurrencies has the potential to overtake regular currencies, cause they lack the qualities of a true good currency. And I don’t even think that cryptocurrencies should be compared to conventional currencies, cause they are not the same. Cryptocurrencies are just assets, and we shouldn’t be comparing assets to real currencies. Maybe we should just be comparing them to other assets and stocks like gold, silver and the rest of them in the market. Regular currencies like dollar should be compared with fellow currencies.

nemesis_

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I don't think so. Cryptocurrencies may already prove us how great its potential but I don't think that it is enough to surpassed any other regular currencies. There will always be something that cryptocurrency will never overtake to these regular currencies. Also, even how great it is, people will tend to choose what are they familiar to. Furthermore, the government will strive to control cryptocurrency if it is already overtaking the regular currencies. That will be difficult and might cause a lot of change.

ghost424

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Cryptocurrency will not overtake and change the regular currency that we use. Regular currency is what we use in our daily lives that is fiat money and fiat money is hard to exchange into something else because you need to know whether it will be profitable in the transaction you will do.

queenhallmark

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I don't figure cryptographic forms of money can supplant standard monetary forms basically on the grounds that crypto don't work disconnected while customary cash does. Besides, crypto are decentralized and the legislature would not enable the decentralized framework to assume control over their incorporated framework, the one government can control.

Copulative

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I don't figure cryptographic forms of money can supplant standard monetary forms basically on the grounds that crypto don't work disconnected while customary cash does. Besides, crypto are decentralized and the legislature would not enable the decentralized framework to assume control over their incorporated framework, the one government can control.

stellgod

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Quote from: Shamburis on February 09, 2018, 10:11:05 AM

Quote from: Highryder on August 13, 2017, 10:00:01 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 really think and not thinking only but i really observe and found and that is what is happening now that most of cryptocurrencies now is highly overtaking our regular or normal currencies.

Bitcoin is grabbing fame at a faster rate than it used to in the past and that day is not far away when the whole world will get aware of this amazing digital coin. It does not take much time to hear any sort of news when you are living in a global village where technology is advancing every moment. Actually it has become the hot topic of present and will remain so for coming few years. The digital market has just begun to grow. Bitcoin is the future of money and one day the world will be living in a cashless society.

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