Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
Sorry to say but bitcoin will not make local currencies to disappear. The government is very strict with the fiat money and they won't allow a digital coin will just able to replace it. We do want bitcoin to take over it but we don't have the power and authority so this is the sad reality. But in a decade or two? things might change during that run as technology is advancing and by that time the world will start using digital currencies and RFID's where there's no need to bring cash. 
Topic: Will Crypto currencies make local currencies disappear? - page 13. (Read 1129 times)
I think you are correct... Cryptos will make local currency dissapear.... But I wonder if this will happen too soon though ? Although Tim Drapper has his prediction saying 5 years from now if you go to buy Starbucks coffee with fiat paper bill, people will laugh at you
The competition between local currencies and crypto currencies is surely not at peak right now. At the point where we will reach the peakt, we can expect civil wars because the governments will not be able anymore to finance their robbery system if too much people use crypto currencies instead. However, as long as governments have the enforcement power through police and military the official currency will not disappear.
It is not at peak and will never be at peak. For heaven sake, I guess it is obvious already that the way things are going even in the cryptocurrency world, it is more or less like just another stock market with the sole purpose to make gains in fiat and as long as we keep seeing this, the ideology of getting fiat ridden by cryptocurrency is not something we should even be seeing at all. Now that we are seeing how things are gradually playing out, it would be more of a speculative investment than currency and I wonder how that is going to eliminate fiat.
We see Crypto currencies will soon soar in the market, it will be more popular for sure in the coming days but of course it doesn’t mean that it will replace also our local currency which is the original tradition we used from generation to generation Though it will change the interests of some investors, because in crypto we see big profits, unlike in banks we are just receiving a very minimal dividends from their big income. But still it’s not enough to eliminate our local currency.
yes, most likely one day a digital currency like bitcoin can replace paper or local currency. Like its nature, cryptocurrency aims to create a decentralized monetary system (Unbound, not monopolized by one party). Based on this, the purpose of the cryptocurrency itself (if successful) replaces the role of banks in carrying out transaction and payment activities. If cryptocurrency succeeds in attracting all existing banking customers, then banks will lose their customers, fee-based income, and sources of funds they can take advantage of beforehand. we'll wait until the next decade or two, dude.
Its impossible, maybe many people adapt cryptoccurencies but not everyone like elders. I think many of us using crypto is in the middle or young age, besides not everyone knows how to use computer or have an android and internet so i think its impossible to happen.
Local currencies will stay especially in undeveloped countries due to th fact ther is fear and lack of knowledge of how bitcoin is better.
20 years is a good time frame for all local currencies to dissapear ... I think 10 will be too less of a time for the world to change
Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
you mean 10-20 years? not ten but 20 is very possible, i think. time is changing very fast, some things that are existing right now - we cuoldnt imagine about them 10 years ago...
It is possible that cryptos in long term will give rise to digital money and local paper based currency will disaapear
Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
If any government decides to use cryptocurrencies then obviously the local currencies get disappeared. But remember there is whole lot of monetary economics involved there and things are not easy as we do in crypto.
It will never get disappear because everybody in the country does not understand crypto currency and cannot use mobile due to illiteracy etc. So cash will always be their but yes it may reduce a bit as people may use crypto payment more who knows how to do it and make use of this technology.
It will happen eventually, one can't deny facts and events that we see around.
Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
It is impossible for a country to disappear their fiat currency, apart from that cryptocurrency is just an asset and not a physical currency that can be used directly to transact in real life. Although bitcoin will likely be big in the future, but fiat will remain the main currency.Considering the fact that it is internet based, we also have to understand that some will be restricted in a way and will still end up being stuck to fiat.
crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
This thing you had said would really be an impossible thing to happen. Cryptocurrencies might be highly adopted but it would just still remain as an alternative and wont really come to a point on where it would become the main trend. Government wont allow such thing and not all people will switch on a thing that hasn't being backed up by something.
Basic fact ! I know a lot of people must be thinking the craziest scenario with cryptocurrency taking over fiat but this is absolutely something that is impossible. Traditional currency have been for a long time and there is no way government will forfeit that for cryptocurrency and even though they may want to consider switching to digital currency instead of printing papers, it would still be centralized.This thing you had said would really be an impossible thing to happen. Cryptocurrencies might be highly adopted but it would just still remain as an alternative and wont really come to a point on where it would become the main trend. Government wont allow such thing and not all people will switch on a thing that hasn't being backed up by something.
Plus, we have to understand that this would just be a market on its own, just the same way we have had stock market over the years, and even though it may be a competition for banks with respect to it being a payment option, but eradicating fiat is something that no one should be expecting.
I hope so at some point that they will take over and everyone will be using some kind of crypto currency, i do think that it will take at least 10 years before it looks as though that is close to happening though.
It will haooen ky if people starta to use crypto currencies in daily life if we keep crypto as an investment it will never haooen because we always need fiat money to cashout our orofits from our investment.But bitcoin jas made good reputation over the last few years but not as a payment system so we need to encourage crypto pauments to make it happen.
I hope so at some point that they will take over and everyone will be using some kind of crypto currency, i do think that it will take at least 10 years before it looks as though that is close to happening though.
Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
You guys are asking for too much. If you are talking about fiat, then you are not going to get that eradicated and even if banks decide to integrate the blockchain technology, it would still be a centralized system anyway but expecting that cryptocurrency will take over fiat is totally out of place.Also, if we are talking about cash, then we might as well say it may be something possible to expect over time, which would start mostly in more developed countries, looking at how third world countries may lack the infrastructure to be able to put a general usage of digital currency in place for the whole citizen.
Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
If any government decides to use cryptocurrencies then obviously the local currencies get disappeared. But remember there is whole lot of monetary economics involved there and things are not easy as we do in crypto.
It is good for crypto currency for sure in some months before but I see the bitcoin price bumped in the market. There would not be good value and stable price for the coin at all mate. If the crypto value bumped that coins will be came to peak.
If the value is the heap then you will not survive for long time.
If the cryptos will be long last like this then much better it can be in the home itself.
Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
If any government decides to use cryptocurrencies then obviously the local currencies get disappeared. But remember there is whole lot of monetary economics involved there and things are not easy as we do in crypto.
Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
If any government decides to use cryptocurrencies then obviously the local currencies get disappeared. But remember there is whole lot of monetary economics involved there and things are not easy as we do in crypto.
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