Topic: Will Crypto currencies make local currencies disappear? - page 4. (Read 1092 times)
Maybe it will, but it will take a lot of time to reach that level of stability and strength. For one thing, fiat is almost as old as economy itself. To try and overcome it, you need strength and stability which crypto currencies do not have now. But, give it time and we will see a revolutionary economy in the making.
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?
I still very much believe that even when the future adopts Cryptocurrency fully, the role of fiats can't be totally scrapped out. There some developing countries that still don't have access to the internet talkless of the blockchain technology. In these areas, physical cash will still be predominantly used.
Crypto currency going popular and it is going major threat of fiat money,People want to change because became sick of fiat money.Every field upgraded with latest technology but still we use fiat money which is full of risk and hurdles.Fiat money also burden upon the economy because its paper and printing too expensive.While crypto currency is secure and fast also easy to make transaction globally no risk of theft or snatch,Hopefully sooner or later crypto will took place of fiat money.
If the matter is looked upon as perspective of digitalisation then I support the fact that yes we need to circulate the btcs too
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?
Yes it has a chance that time will come bitcoin and other crypto currencies will win over fiat money of different countries. This is the reality of life that every new things that has an advantage than the current will rule and leaving behind the former. But I have a feeling that on that time every nation will create their own crypto currency and the powerful country will have the powerful 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?
I Think why crypto currencies make local currencies disappear, because crypto currencies is more popular and more valuable. The crypto is the future of technology.
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?
No, the local currencies are backed by the powerful countries having a strong armies, therefore the governments won't allow that their own fiat currencies disappear. Also they understand that the international decentralized crypto currencies are hardly can be restricted even technically, so the wise decision is a sane regulations.
Maybe in the next generation where all people are all knowledgeable about technology and if the government acknowledged crypto currencies as local currency.For me, crypto currency is an investment which needs fiat if you want to use it.
There are controversies all over whether crypto will rule over the local currencies. The government in one way or the other is not in support with crypto in some part of the world. This might be because the government does not generate any fund from the transaction of these crypto currencies. Hardly do I believe that crypto currencies can rule or have dominion over our local currencies. It will not be an easy for such to happen. Moreover, lesser people know about the crypto currencies.
They might not be as prominent in the future, but I bet that local currencies will still exist. They will likely exist for the reason that some areas won't have enough technology to get involved with crypto and will have to remain mainly cash societies.
I don't think so, because the currency crypto and currency conventional it is different, they will remain there though currency crypto will grow rapidly. they will be running along according to their respective functions, and not mutually dropped between with each other.
even if that happens, it will take more than a few years to see it happening, take in consideration that to see an entire bank system disappearing is something that we are not seeing everyday. Just give it some time, maybe it will happen just in a few years
Presently cryptocurrencies have to exist side by side with fiat currencies so cryptos can have value. Most services and buying of products are done in fiat. Until we have enough companies and individuals accepting cryptos for services and products, fiat currencies would still have to lurk around. And moreover, most people don't understand the whole concept of cryptocurrencies at all.
Not just as yet though it is possible for cryptocurrencies to replace physical money once all are educated and familiar with it.
I am living in Turkey, and we are in the middle of the hot zone and war is always neighbour for us, this kinf of terms people doesnt prefer to take money in the bank accounts and turn it to gold, but for now, cryptocurrencies are the best way to change fiat money and keep safely...if one day cryptos will replaced gold silver etc, why not ?
you may be right to convert your money into crypto to secure your money from all the possibilities that occur, because you live in the red zone so that war can break anytime, compared to converting your money to gold you probably will not know what will happen with gold you if war happens,
It depends completely on where the clash is taking place LOL. if its somewhere on earth where he btcs is abundant and officially approbed then the former would
Maybe not totally because people still not used to be doing bitcoin, they're not totally accepted it yet as replacement for the fiat whom they will always use but in terms of security, conveniency people prefer it as to avoid any fuss,,fiat still fiat and people and will always be connected to these and there's no way a government will fully permit it to happen.
it seems that cryptocurrency will not be able to make the common currency disappear because all still need paper money because digital currency technology such as bitcoin is greatly used if the country only accepts payments using digital currency.
It will not be, this is a serious problem for any country if it knows the currency of the country will be replaced with bitcoin. They will suppress bitcoin and keep their own country's currency. Fiat money is a symbol for the economic side of every country.
I think this is the capability of cryptocurrency that should be anticipated by the government, the government must do something for the paper currency that we are using is not lost because of the cryptocurrency, I hope the policy to be issued gives us a good impact, especially for the cryptocurrency and currency that we are using...
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