Topic: What will happen if crypto currencies dominate the earth?!!! (Read 184 times)
I believe, that will replace, but not in our century.No one will let you do that.Now a lot of coins in the market.But only those will survive, where there will be a working product.
noting will happen to be honest, things will remain same the way it use to be with fiat currency though their will be slight difference which will be FAST internet and uninterrupted power supply. and every other thing such as market and way of life continue the way it use to..
If crypto overtakes the ubiquitous currencies then I think governments will no longer be required, at least not in the numbers we see today. I love this idea as I just feel they aren't the brightest to lead a country and with no government, people would have more autonomy over wars, crimes etc
Don't get me wrong i love crypto currencies and support blockchain technology all the way. but i had that thought last night so i want to share it with you, what will happen exactly if bitcoin and other crypto dominate the earth and replace the current financial will that help the world or it will destroy the world econmy? I would love to hear your opinions, thoughts, visions on this topic please is there a safe passege for that or no?
If PoW based, maybe there will be no forests anymore?
Replantation has come quite a long ways.
Banks are a major influence in drafting laws, at least in the United States. And they really don't like cryptocurrency because there is no reliance on the banking system in order to support it, if it becomes fully adopted. I think cryptocurrency still has a long way to go in order to become adopted by the majority of people throughout the world. I mean, imagine a private party sale of a vehicle utilizing cryptocurrency, especially for valuable vehicles ($50-100k and more). I guess the super rich may initiate a bank transfer, but, how quick would the turnaround be. There's definite benefits it brings to world problems, or efficiencies that it brings.
Don't get me wrong i love crypto currencies and support blockchain technology all the way. but i had that thought last night so i want to share it with you, what will happen exactly if bitcoin and other crypto dominate the earth and replace the current financial will that help the world or it will destroy the world econmy? I would love to hear your opinions, thoughts, visions on this topic please is there a safe passege for that or no?
If PoW based, maybe there will be no forests anymore?
Don't get me wrong i love crypto currencies and support blockchain technology all the way. but i had that thought last night so i want to share it with you, what will happen exactly if bitcoin and other crypto dominate the earth and replace the current financial will that help the world or it will destroy the world econmy? I would love to hear your opinions, thoughts, visions on this topic please is there a safe passege for that or no?
I think this is an imagination though the probabilities of Bitcoin and other crypto dominating may be attainable.However, Bitcoin and other altcoin are already gaining wide stream acceptance in the world and at that future situation, it will be used similar as US dollars is currently doing ,serving the financial need of the world, though you have to convert from your local currency to the dollar. May be,at that time ,you have to convert all cryptos to dollars or may be local currency to bitcoin assuming bitcoin has become world used central currency as you stated. In nutshell, i think bitcoin or other crypto will not destroy the word economy but it may will financial equality and straightened the gap between the poor and the rich in my opinion.
There are positive and negative side if this will gonna happen. The positive side I think is, there will be no corruption in the government because cryptocurrency is decentralized therefore they cannot trace and taxed it and no banknotes for them to be greedy of or currupt.
Negative side is, no control, no body can control the flow and amount of cryptocurrency in one country. Government have no control either so my concern is the economic status of one country.
exactly that's what iam thinking too in fiat currencies government are in control they know what is coming in and coming out they also do the payday for government employers but if crypto currency toke over what will happen that's my question how will government control it will it lead to total chaos or the opposite Negative side is, no control, no body can control the flow and amount of cryptocurrency in one country. Government have no control either so my concern is the economic status of one country.
There are positive and negative side if this will gonna happen. The positive side I think is, there will be no corruption in the government because cryptocurrency is decentralized therefore they cannot trace and taxed it and no banknotes for them to be greedy of or currupt.
Negative side is, no control, no body can control the flow and amount of cryptocurrency in one country. Government have no control either so my concern is the economic status of one country.
Negative side is, no control, no body can control the flow and amount of cryptocurrency in one country. Government have no control either so my concern is the economic status of one country.
I think the part of cryptocurrency that is considered to have many "issues" is similar to the issues faced by other systems that have come into place.
First there were fears of people using cip-and-pin/debit cards because it was considered less secure than carrying around money as it is based on the honesty of the cashier and how good the database is.
Currently, I see fears of things like Apple/android pay and general contactless payments as people are very fearful of it.
The thing that is holding us back is that banks won't accept people to deposit their money or withdraw in crypto currency and store it in their main bank (I know of a few banks that will allow you to store encrypted private keys in "vaults", however, you can't get interest and you can't spend it directly).
There are debit cards that already use cryptocurrency and bitcoin also that solves a bit of this problem but they're not as good and you'd have to transfer into them from a bank account.
First there were fears of people using cip-and-pin/debit cards because it was considered less secure than carrying around money as it is based on the honesty of the cashier and how good the database is.
Currently, I see fears of things like Apple/android pay and general contactless payments as people are very fearful of it.
The thing that is holding us back is that banks won't accept people to deposit their money or withdraw in crypto currency and store it in their main bank (I know of a few banks that will allow you to store encrypted private keys in "vaults", however, you can't get interest and you can't spend it directly).
There are debit cards that already use cryptocurrency and bitcoin also that solves a bit of this problem but they're not as good and you'd have to transfer into them from a bank account.
Don't get me wrong i love crypto currencies and support blockchain technology all the way. but i had that thought last night so i want to share it with you, what will happen exactly if bitcoin and other crypto dominate the earth and replace the current financial will that help the world or it will destroy the world econmy? I would love to hear your opinions, thoughts, visions on this topic please is there a safe passege for that or no?
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