Replacement? - page 3. | Bitcointalksearch.org

Unbunplease

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Quote from: pgbit on March 28, 2023, 01:43:31 PM

It is difficult to say definitively whether cryptocurrency will replace physical money and become the primary form of payment in everyday life. Cryptocurrency has seen tremendous growth in recent years, but it still faces a number of technological, regulatory, and legal hurdles that could prevent it from becoming a mainstream payment method there are still millions of people around the world who are unfamiliar with the technology behind cryptocurrencies, and who may not be willing to adopt it as a form of payment. Until these issues are addressed, it is unlikely that cryptocurrency will replace traditional forms of payment anytime soon

For cryptocurrency to replace fiat money, it requires, first of all, the willful decision of the government. It is worth considering that the government wants to always control everything, so you should not expect great freedom in the introduction of the state cryptocurrency. So I don't think there will ever be a full replacement.

Raflesia

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Quote from: CODE200 on March 26, 2023, 06:49:13 PM

Quote from: Raflesia on March 25, 2023, 04:36:15 PM

The condition is still the same as before I think. For future prospects, this possibility can still become a means of payment, but this is clearly underground or only with the approval of those transacting as long as the current regulations are still the same as now.
On the other hand, the role of fiat will still be real even if bitcoin exists, so they will still be an alternative to fiat and cannot replace it.

Crypto wasn't made to replace fiat. That wont gonna happen, fiat will still remain as the main form of money that every country have. Crypto is another form of money we can use as a payment and also for investment purposes. On the other hand, I cant see any reason why it should replace fiat in the future? These two currency have their own strength and weakness, I guess it depends on us now what we are going to use.

As what I said before. Crypto will only be an alternative regardless of how domination and movement is currently still fiat will not be replaced and banks will still continue to rule.
The conditions will not change in any way because indeed from the beginning too wasn't this just an alternative so when this has been determined then nothing will change forever it remains an alternative.
Even though there are indeed a number of countries today such as El Salvador that use bitcoin as a legal means of payment, fiat is still very influential and bitcoin accompanies it there.

pgbit

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

It is difficult to say definitively whether cryptocurrency will replace physical money and become the primary form of payment in everyday life. Cryptocurrency has seen tremendous growth in recent years, but it still faces a number of technological, regulatory, and legal hurdles that could prevent it from becoming a mainstream payment method there are still millions of people around the world who are unfamiliar with the technology behind cryptocurrencies, and who may not be willing to adopt it as a form of payment. Until these issues are addressed, it is unlikely that cryptocurrency will replace traditional forms of payment anytime soon

AnonBitCoiner

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progress in cryptocurrency is real but we cannot say that it will take a place of fiat money because it has its own use and familiarity. People use bitcoin for the purpose of enhancement money and they can also use bitcoin for the purpose of transaction but as you know that people are not more familiar with crypto and bitcoin but have actual knowledge about fiat.

Fiat Money is useable everywhere and bitcoin is banned in some countries therefore I think that it can never take a position of fiat.

MiF

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

I also seen the progress of crypto but i never seen a reason or a way that it will replace fiat, if there will be a new development in the future with some more adoption maybe it will replace fiat, but for now it is still hard because not all of us who are living in different country knows about crypto, many more people also did not know about crypto specially to those who are in a poor status who doesn't know about digital transactions and even internet or using new gadgets.

Gallar

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

it is not that easy to replace fiat money which has been around for a long time in all countries. doesn't mean it's impossible, but it takes a long time to make bitcoin or crypto a world currency.
because not everyone and all countries are familiar with bitcoin or crypto, so it takes quite a long time for this ideology to succeed.

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

Crypto as the main transaction in our daily lives requires enormous change, everything must use digital devices and requires an even internet network and government policies, regulations in each country are different, so if you want to implement something like that, it depends on the people and government. but in my opinion physical money will not be replaced crypto currency can only be used as an alternative currency, trade and investment

Dimitri94

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Maybe that's good news in that respect. Cryptocurrencies are now used in every part of the world. Everyone has started thinking of it as a transaction method. Its consumption will continue to increase in the coming days. As a result, there is no doubt that digital transactions will be completed at some point in the world. We are moving in that direction as people's confidence in Bitcoin is increasing in recent times. I believe these digital transactions with fiat money will also continue to grow.

CODE200

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Quote from: Raflesia on March 25, 2023, 04:36:15 PM

The condition is still the same as before I think. For future prospects, this possibility can still become a means of payment, but this is clearly underground or only with the approval of those transacting as long as the current regulations are still the same as now.
On the other hand, the role of fiat will still be real even if bitcoin exists, so they will still be an alternative to fiat and cannot replace it.

Crypto wasn't made to replace fiat. That wont gonna happen, fiat will still remain as the main form of money that every country have. Crypto is another form of money we can use as a payment and also for investment purposes. On the other hand, I cant see any reason why it should replace fiat in the future? These two currency have their own strength and weakness, I guess it depends on us now what we are going to use.

Yatsan

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What's the need for replacement if it could be an alternative? I see this technology as an alternative more than totally being the only currency to be used on daily transactions, in the future
Also, that is impossible knowing well its characteristics; volatile market value and decentralization. For a currency to be used widely across the globe it should be first be acknowledged by majority of the countries. It is more likely for this technology and fiat to co-exist in the future than to be Bitcoin alone. Also, for such thing to happen, prices should be solely based with Bitcoin and other cryprocurrencies, and not fiat based, which is something hard to imagine.

Quote from: trendcoin on March 25, 2023, 02:25:16 PM

Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

In the history of humanity, money has not struggled for existence focused on technology. Conflicts over money and economy have been inflation-oriented problems. In other words, there have been "solid currencies and inflationary means of exploitation" in history. All the crises in history have arisen for this reason, and many empires have been destroyed for this reason. The money we use in our daily life is subject to inflation. On the other hand, Bitcoin is in the solid money category. These two do not replace each other. These two conflict with each other.

I doubt with conflict with one another. None is dependent with the other so how come it would create conflict? I'd say their concepts are in contrast.

Queentoshi

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Quote from: Pokapoka124 on March 10, 2023, 05:20:32 AM

I don’t think bitcoin will replace fiat anytime soon. Unless every person has bitcoin and are willing to spend it as a currency, it cannot be replace fiat. In my country, many people are stuck at home because they don’t have physical cash to pay for transportation to work. The little cash they have left is spent on food and electricity. We try to use digital banking when we can but some of the sellers are either unbanked or do not feel comfortable with bank transfers. Bitcoin has a long way to go before it can replace traditional forms of money.

Bitcoin can't replace flat, it can't be use for our day to day transactions. And everybody can't have bitcoin because not everybody knows about bitcoin, how can we teach the older people how to use it, how to carry out transactions, and another thing to look out to are scammers, we have alot of them, physical cash is very important to our day to day transactions, for example payment of transportation to work and to buy little things like food stuff and the rest, not everyone even has a good phone to be carrying out transactions. So I can't see any possibility of bitcoin replacing flat.

Mr.right85

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

As yummy as we might have it, being a honey pot and all, cryptocurrency has got its flaws and exclusions too. With that, its hard to imagine a system with exclusions and flaws being the one thing that all humanity is dependent on.

What world has cryptocurrency have for the physically challenged like the blinds?
Do they get a free pass or have others operate there wallets for them (that would be so much breaking the rules as per security/privacy) or perhaps they just die out.
Of course these can't be and as such, we very much need fiat to be fully operational still and I can't imagine a nation that would be wiling to lose the control they get from fiat to cryptocurrency in a parallel or plane measure.

Raflesia

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The condition is still the same as before I think. For future prospects, this possibility can still become a means of payment, but this is clearly underground or only with the approval of those transacting as long as the current regulations are still the same as now.
On the other hand, the role of fiat will still be real even if bitcoin exists, so they will still be an alternative to fiat and cannot replace it.

lizarder

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

Impossible to run globally in the near future, regulations in various countries will limit crypto as the main transaction in everyday life. Although though cryptocurrencies have progressed rapidly since their introduction to date.

Anyone cannot go against the regulations made by the state because there are consequences, otherwise you must be prepared to be jailed or subject to sanctions. Logically, we cannot go against the laws that apply in our respective countries of residence and thankfully countries provide access to crypto as a commodity asset that can be traded on exchanges, rather than totally banning it like in some countries in the world.

trendcoin

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

In the history of humanity, money has not struggled for existence focused on technology. Conflicts over money and economy have been inflation-oriented problems. In other words, there have been "solid currencies and inflationary means of exploitation" in history. All the crises in history have arisen for this reason, and many empires have been destroyed for this reason. The money we use in our daily life is subject to inflation. On the other hand, Bitcoin is in the solid money category. These two do not replace each other. These two conflict with each other.

Casdinyard

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The possibility of money being digitized as we progress as a species is quite real, but I don't think blue-chip cryptocurrencies like bitcoin and ethereum are the ones that will spearhead this movement. They are as volatile as it can be, and their low supply means they couldn't accommodate to the ever-growing population of people who would one day use money for everyday things. Pretty positive that a digital version of money will be available, or maybe even a usable stable coin that could be used for purchases and not just as a pegged cryptocurrency in exchanges.

Oceat

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Who knows? I think it might be too early to say something like that but I like if that's going to happen. Although, it's really different when you have a physical money than having a digital one but if you look at it in a different perspective it's just the same since you will still use it to pay. When having a crypto currency you just need your wallet which is your phone or computer and the only physical thing you can touch or bring is your phone as wallet. But it all depends on the government since most of the government are against the use or adaption of Bitcoin.

nimogsm

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This will not happen,crypto will be as an additional payment method or replacement but only in certain stores or service providers.A complete transition in more than one country will not happen,no one will remove the national currency to replace crypto.I don't see 100% acceptance of this method now in more than one country.

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Quote from: virasisog on March 25, 2023, 10:55:50 AM

Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transaction in our everyday life?

It can be adapted and used as another currency but I don't think it will ever replace fiat.
People are into digital transactions these days as technology innovates but they still prefer using digital money instead of cryptocurrency when it comes to payment and digital purchases.
We all know the huge potential of cryptocurrency to make the economic situation better but people won't choose it over physical money because of its volatility and instability.

Whether a country's currency is stable and valuable depends on the economic situation of that country. As you say, cryptocurrencies make the economic situation better, they are very volatile and unstable. That means that even if fiat collapses, they will not be able to replace fiat, they are more like an asset, a commodity, than a currency. I also never expected bitcoin or altcoins to become currencies, as long as they are volatile and volatile, it cannot happen. And governments will never accept something they cannot control or was not created by them.

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Quote from: GlobalMilk99 on March 10, 2023, 12:35:11 AM

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transaction in our everyday life?

It can be adapted and used as another currency but I don't think it will ever replace fiat.
People are into digital transactions these days as technology innovates but they still prefer using digital money instead of cryptocurrency when it comes to payment and digital purchases.
We all know the huge potential of cryptocurrency to make the economic situation better but people won't choose it over physical money because of its volatility and instability.

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