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 think it will not become or replacement for fiat, even we will using it right now but still there is a lot of people who still wanted to use fiat than cryptocurrency and there are also people who don't know about it specially to those who are very old they don't even know it for sure, we still don't know what happen in the future so i think there is a little chances in the future generation. 
Topic: Replacement? - page 5. (Read 990 times)
It is far too early to make any real guesstimates at this point as to how things will play out. In my opinion is it only inevitable that physical fiat money will be replaced. Whether that's with bitcoin or some other type of digital currency. I think the worlds governments will first try and create their own centralized cryptocurrencies (much like some are already trying, such as China). But if this does happen, its still going to take time and the bitcoin blockchain needs to continue progressing.
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?
No matter how much positivity we do see on this market or simply speaking about digital currencies but still there's no way that it could really be able to replace those physical fiat that we've been get used to.Also, as long government does exist then there's no way for this could be possible plus we know that we cant really be able to apply up things and making it as a daily currency
on something which is volatile and we do know that it cant really fit out with the criteria yet every transactions would really be having a corresponding fee.
Whether we do like it or not which fiat would be the sweetest spot on these kind of situation and cant really be that replaced.
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 will not completely replace physical money for daily use and transaction. If it had to replace the physical money, then they need to educate some elder people and younger people to do it as well, which means it can't completely adopted to this world. Also with the fear of using cryptocurrency as their daily use because of the regulation on their countries or the fear because of their mindset telling to do so.Surely more people will use it in the future, but to be a replacement for physical money is just impossible.
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?
There's a fine line of difference between the two currencies fiat and crypto as they both play a similar but different roles entirely, and by similar role I mean they're both a store of value, a means of exchange, etc but in terms of usage they differ. So you know, cryptocurrency is not that convenient to use in purchasing a product of one dollar or less due to the transaction fee charge that may apply (like who will be responsible for the fee is it the buyer or seller?), Unlike the fiat money that OP describes as physical money it can be paid with less than a dollar commodity and cash paid in hand.In my very opinion in as much as fiat money is centralized whereas crypto is decentralized both can function side by side freely with a choice open to the users on which to make use of based on the situation at that very moment.
It can be said that depending on the government, the government is still the one to decide everything, but that possibility will be very unlikely. That will only happen unless they figure out how to take control of bitcoin and make it their own product, but so far bitcoin's decentralization has been virtually unbreakable. But discussing the future of physical money, I think it will also disappear and be replaced in the future by a digital currency created by the government and as we know it CBDC. Bitcoin or any alternative currency would not be the government's choice.
I don't think crypto needs to be a substitute for physical money but it can provide an alternative to users that when they can't use physical money, they can use crypto to make payments. Fiat will remain as we know it. Maybe it will only change physically from paper to digital because it has been transformed into a digital form. And fiat will still be used but it would be better if the government could start legalizing crypto as an alternative means of payment when banking cannot work optimally. The public will be happy to see something like that because they can use fiat and crypto together.
No, they won't. They will not legalize crypto because it will beat the value of fiat in the market. You have to be sure of that.All over the world almost all countries want fiat currencies to have a high value in the market and we can see how the USD competes with the euro.
Although not and/or not necessarily true, their efforts in pursuing CBDC is as an alternative to not wanting to legalize crypto.
For me it doesn't matter because we can still use crypto amid the difficult economic conditions of the banking world or vice versa.
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?
The rise of cryptocurrency has been a topic of much debate and speculation in recent years. While it's difficult to predict the future of digital currency with certainty, many experts believe that cryptocurrency has the potential to become a major player in the world of finance and transactions. The advantages of cryptocurrency is its decentralized and secure nature, which can make it an attractive alternative to traditional currency for some people. Additionally, the growth of blockchain technology,there are also many challenges and obstacles that must be overcome before cryptocurrency can become a widely accepted and mainstream form of currency. These include concerns around regulation, security, and scalability, as well as issues related to adoption and acceptance by merchants and consumers.
Overall, while it's possible that cryptocurrency could eventually replace physical money as a primary means of transaction, it's likely that this transition will take time and require significant investment and innovation from both the public and private sectors.
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?
No it will not happen.It's good to see the adoption of cryptocurrency going up as the years goes by, and it's also good to see some small business, and establishments starting to accept cryptocurrency as another mode of payment on their business. Having said all of that, I don't think that there will be a time that cryptocurrency will replace physical money to be used for our daily transactions. There are some hindrances as to why it will never happen.
Most people don't have access to cryptocurrency, lack of device to be used to access crypto, lack of knowledge with regards to crypto, fear that they might lose money if they will use it to transact because of it's volatility. I mean there's many more reasons to why it will not be used for daily transactions. It would be better to keep crypto as an alternative mode of payment and will not replace our physical money because it will not happen... or it might be in the future we don't know.
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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?
Not yet as long as there is still fiat in each country around the world. Even fiat will continue to be the main transaction tool in all activities even though some countries already accept payments with Bitcoin or other cryptos. But I already feel if the two go hand in hand at this time.From Bitcoin they are learning that the efforts of some countries to immediately have CBDC amid various economic constraints that are happening.
Some countries reject the CBDC convention.
You have to look closely at Satoshi Nakamoto's white paper to get this answer... he specifically mentions the word "Alternative" payment option.
Satoshi was not a fool, (let's refer to Satoshi as a male for now. even though we do not know).... he knew government controlled fiat currencies will never go away, but he also knew... if it failed, people will look for alternative options as a payment option...and this is where Bitcoin comes in, then people will use it as an alternative option.
This has happened in many countries, like Greece / Zimbabwe / Cyprus etc... where their Fiat currencies struggled.
People also turn to Bitcoin when centralized payment options misuse their power.... (Wikileaks donations / Backpage payments / Pornhub payments)
Satoshi was not a fool, (let's refer to Satoshi as a male for now. even though we do not know).... he knew government controlled fiat currencies will never go away, but he also knew... if it failed, people will look for alternative options as a payment option...and this is where Bitcoin comes in, then people will use it as an alternative option.
This has happened in many countries, like Greece / Zimbabwe / Cyprus etc... where their Fiat currencies struggled.
People also turn to Bitcoin when centralized payment options misuse their power.... (Wikileaks donations / Backpage payments / Pornhub payments) 
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?
If you read Satoshi Nakamoto's old posts on our forum (Bitcointalk forum), you can infer that he envisioned bitcoin becoming a widespread means of payment in the future.
However, reality has made its own adjustments.....
The convenience of using bitcoin as a means of payment is inferior to its other advantages - a limited supply (potentially only 21,000,000 coins are available) and a transparent blockchain (convenient for auditing). These last two properties make the first cryptocurrency an ideal reserve asset and an ideal measure of the value of all other assets.
At the same time, the number of possible daily bitcoin transactions has a technical limitation that does not allow it to be used as a universal means of payment (after all, a huge number of people live on planet Earth - 8 billion people).
Therefore, in my opinion, the most preferred option for using Bitcoin in the future is to use it as part of the gold and foreign exchange reserves of central banks (this requires a corresponding change in the regulatory framework).
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?
Not yet as long as there is still fiat in each country around the world. Even fiat will continue to be the main transaction tool in all activities even though some countries already accept payments with Bitcoin or other cryptos. But I already feel if the two go hand in hand at this time.From Bitcoin they are learning that the efforts of some countries to immediately have CBDC amid various economic constraints that are happening.
Some countries reject the CBDC convention.
I doubt it is going to be anytime soon. Even thought bitcoin and other crypto currencies are getting popular, people still depend on fiat currencies. Right now most people use crypto currencies to hold and make profit. They sell it for fiat currency. As long as people will keep on doing this, we won't be seeing bitcoin going mainstream. Again, crypto currencies right now are extremely volatile. I doubt anyone would want to use a volatile currency for making day to day transaction. If everyone is on board, and if everyone starts to prefer crypto currencies, we might see them replacing the traditional fiat currency one day soon.
It's either bitcoin/crypto will be adopted by the masses as a day-to-day currency, or it will be a massive sort of 'underground currency' that sovereign people would be using. It will heavily depend on regulations of specific countries.
I totally agree with this. My reason for that it's because there will always be a country that will prohibit the usage of crypto either due to personal interest or for the sake of the so called user security. We all understand some of the few good reasons why they wont legally accept crypto, and hopefully even if they won't fully accept it, at the very least they won't declare a total ban, or in other words leave an option for crypto as a mode of payment.
Crypto is a threat to Fiat, if we are ever going to see some crypto projects use publicly for payment, trust me the government will be the ruling leader of the projects, such projects will work with CBDC and the ISO whatever of things, crypto payment will remain private within the people, not the government, this is why it will be very hard to see crypto getting accepted as means of payment, some countries will accept Bitcoin but many will continue to put up some restriction on it because it is a threat for them.
Crypto has never been a threat to fiat, they were created as an alternative to fiat, and cryptocurrencies do not provide privacy for everyone. If talking about privacy, then only bitcoin is the only currency, the rest are centralized coins that are controlled, so they cannot provide us with privacy.
In the future, physical money will be replaced, but it will definitely be a government-issued CBDC, not bitcoin or any altcoins. The government will never accept a currency that is not issued by them, and could become the world's main currency.
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Well there are already centralized crypto like XRP so "unaware" people might not look into Bitcoin as the first choice since they believe that centralized coins means that they are entirely protected since a third-party is in authority of how much they're holding, but they're wrong of course.Bitcoin, at least here in my country, has been a popular investment and I don't think that people might think about that first when it comes to replacement of physical money considering that I see a lot of non-fiat holders using digital payments like GCash here to pay easily through the counter. Not sure about the other countries though.
Crypto is a threat to Fiat, if we are ever going to see some crypto projects use publicly for payment, trust me the government will be the ruling leader of the projects, such projects will work with CBDC and the ISO whatever of things, crypto payment will remain private within the people, not the government, this is why it will be very hard to see crypto getting accepted as means of payment, some countries will accept Bitcoin but many will continue to put up some restriction on it because it is a threat for them.
It's either bitcoin/crypto will be adopted by the masses as a day-to-day currency, or it will be a massive sort of 'underground currency' that sovereign people would be using. It will heavily depend on regulations of specific countries.
I totally agree with this. My reason for that it's because there will always be a country that will prohibit the usage of crypto either due to personal interest or for the sake of the so called user security. We all understand some of the few good reasons why they wont legally accept crypto, and hopefully even if they won't fully accept it, at the very least they won't declare a total ban, or in other words leave an option for crypto as a mode of payment. 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?
This is doubtful, do not get me wrong I think bitcoin has the potential to be adopted by a very high number of people and be used in our everyday lives, but at the same time I know that governments are never going to give up on their fiat currencies, the system could collapse and bring misery all over the world and the politicians will not care and they will try to force people to use fiat currencies again by given them another name, and since I think most people can be easily deceived then I do not think bitcoin will definitely replace physical money as you suggest. Jump to: