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Author Topic: Can cryptocurrency make real money disappear  (Read 47820 times)

Offline Mas Bro

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Re: Can cryptocurrency make real money disappear
« Reply #45 on: March 12, 2021, 04:07:25 PM »
I think there is no way cryptocurrency can get rid of fiat money. Because both have their own functions. Fiat is the legal tender for every country in the world. Meanwhile, crypto currency is a digital currency as an investment. Crypto currency and Fiat will always go hand in hand.
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Re: Can cryptocurrency make real money disappear
« Reply #45 on: March 12, 2021, 04:07:25 PM »

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Offline Seerge

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Re: Can cryptocurrency make real money disappear
« Reply #46 on: May 29, 2021, 06:35:14 PM »
I think there is no way cryptocurrency can get rid of fiat money. Because both have their own functions. Fiat is the legal tender for every country in the world. Meanwhile, crypto currency is a digital currency as an investment. Crypto currency and Fiat will always go hand in hand.
Yes, my friend, I also agree with you. This cryptocurrency is more widely used for trading and investment, so it's impossible for this Crypto to get rid of Fiat money in general, it's impossible.

Offline Alcor

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Re: Can cryptocurrency make real money disappear
« Reply #47 on: April 29, 2022, 07:41:29 AM »
In some countries, especially in developing and underdeveloped countries, it is getting more and more difficult to make transactions in dollar terms. As we can see in the case of africa, people may resort to different ways because of devaluation. and here crypto currencies come into play. I foresee that it will spread all over the world over time and only crypto currencies will be used.
No, this is impossible. The currency of states in any form will continue to exist and the cryptocurrency is not able to displace it. The volume of cash will be gradually reduced, but I do not see that they could be completely abandoned. The state currency can change its status only by decision of the relevant state authorities, so the cryptocurrency is powerless in this regard.

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Offline DrBeer

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Re: Can cryptocurrency make real money disappear
« Reply #49 on: January 07, 2024, 11:32:16 PM »
It looks like the dream ""cryptocurrency will replace fiat money"" is about to be realized. But not as we expected, but rather much worse.
It's not cryptocurrencies like bitcoin or ethereum that will replace fiat money. Notice their "ugly heir" of cryptocurrencies - CBDC ! But when it arrives, there will be no more joy.....
Total control, total management, we will all cease to be the real owners of our money.

Offline $crypto$

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Re: Can cryptocurrency make real money disappear
« Reply #50 on: January 26, 2024, 10:58:57 AM »
In some countries, especially in developing and underdeveloped countries, it is getting more and more difficult to make transactions in dollar terms. As we can see in the case of africa, people may resort to different ways because of devaluation. and here crypto currencies come into play. I foresee that it will spread all over the world over time and only crypto currencies will be used.
No, this is impossible. The currency of states in any form will continue to exist and the cryptocurrency is not able to displace it. The volume of cash will be gradually reduced, but I do not see that they could be completely abandoned. The state currency can change its status only by decision of the relevant state authorities, so the cryptocurrency is powerless in this regard.
It's very difficult for cryptocurrencies to displace fiat currencies, although it could happen, I don't know when it will happen and I might not be around.

There's still a lot of opposition to cryptocurrencies now and there always will be. They understand that if cryptocurrencies fully replace fiat currencies around the world, then the elites with vested interests will find it very difficult to continue their interests, so they will continue to oppose cryptocurrencies.

Some are now accepting it, but some are also accepting it as a commodity asset and not for legal tender.

Offline DrBeer

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Re: Can cryptocurrency make real money disappear
« Reply #51 on: January 27, 2024, 10:01:24 AM »
....
It's very difficult for cryptocurrencies to displace fiat currencies, although it could happen, I don't know when it will happen and I might not be around.

There's still a lot of opposition to cryptocurrencies now and there always will be. They understand that if cryptocurrencies fully replace fiat currencies around the world, then the elites with vested interests will find it very difficult to continue their interests, so they will continue to oppose cryptocurrencies.

Some are now accepting it, but some are also accepting it as a commodity asset and not for legal tender.

It's not about elites and cryptocurrencies. It's about a fairly simple nuance. It sounds like this: any state is power. Power is management and control. Cryptocurrency is a decentralized solution that removes management and control. So it contradicts the essence of the structure of today's states. Until the very paradigm of the structure, goals and processes in the state changes - cryptocurrency (in its classical form - decentralized) will never replace money in the financial system of the state!

PS And a little riddle - try to model the processes in the state, in a real situation, provided that the state can not "print money", i.e. there is no additional issue of money ?! This is the second, very subtle problem, which is not solvable with a classical cryptocurrency with limited emission ?

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Re: Can cryptocurrency make real money disappear
« Reply #51 on: January 27, 2024, 10:01:24 AM »


Offline Gormicsta

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Re: Can cryptocurrency make real money disappear
« Reply #52 on: February 13, 2024, 09:55:13 AM »
I don't really think so but I believe it will make it less valuable.

Offline Dr.Bitcoin_Strange

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Re: Can cryptocurrency make real money disappear
« Reply #53 on: February 17, 2024, 07:04:50 PM »
What are the chances of living in a world with no actual money ?   
I think personally that cryptocurrencies won’t make FIAT useless, but I think that cryptocurrencies will work hand-in-hand with FIAT money. Especially in countries like the United States, and the other first-world countries; A lot of companies such as Boosteroid etc. ,  create usefull cryptocoin which are making transaction cheaper and easier.

The motive of crypto currency isn't to send fiat into extinction, no, it is to make things a lot more easier and that's what it's been doing so far. Many countries have adopted crypto as a traditional method of payment thereby reducing the workload on the traditional fiat currency. We all know that inflation is hitting various fiat currencies so bad that some currencies has been devalued but the emerging of crypto would change all that and make things a lot more easier.

Offline Bodhi2021

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Re: Can cryptocurrency make real money disappear
« Reply #54 on: February 17, 2024, 10:44:28 PM »
No, Cryptocurrency will not make real money disappear, at least,  not anytime soon, Because part of the beauty of cryptocurrency is having a fiat currency to exchange it with and the existence of fiat currency/real money add more value to cryptocurrency.
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Re: Can cryptocurrency make real money disappear
« Reply #55 on: February 18, 2024, 09:22:21 AM »
In my humble opinion, for now it is not gonna happen unless it needs to in the future. I personally don't think I like the idea that crypto will replace fiat because I don't have plans on spending my crypto in a daily basis just like what we are doing with fiat. I consider crypto as an investment rather than a form of payment because I can see huge potential of crypto for that investment purposes. Crypto and fiat is a good combination and an absence of either one will cause imbalance most especially to us crypto enthusiasts.

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Re: Can cryptocurrency make real money disappear
« Reply #56 on: February 18, 2024, 11:21:28 AM »
Not a chance. Many years ago this possibility was dreamt of and I could have believed it, but there is a growing general opinion that it is not going to happen, especially seeing how cryptocurrencies have been used in recent years: as an investment, bought in most cases in CEX and with KYC. You only have to look at the comments on this thread written in 2024 to see what the general opinion is.
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Offline tjtonmoy

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Re: Can cryptocurrency make real money disappear
« Reply #57 on: February 18, 2024, 07:04:11 PM »
Not a chance. Many years ago this possibility was dreamt of and I could have believed it, but there is a growing general opinion that it is not going to happen, especially seeing how cryptocurrencies have been used in recent years: as an investment, bought in most cases in CEX and with KYC. You only have to look at the comments on this thread written in 2024 to see what the general opinion is.
Many things have changed over the years. In 2024 we can see a clear picture of where the world is headed. It is not the full picture, to be honest, but a fraction of it. It could also change in the future as well because the future is unknown and uncertain. But we can at least assume what could happen.

Cashless or physical currency-less world? It could possibly happen, but the possibility of that being some cryptocurrency is very unlikely. People will use crypto but there will also be a currency governed by the government. They will never give up the opportunity to control people.

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Re: Can cryptocurrency make real money disappear
« Reply #58 on: February 19, 2024, 04:42:18 PM »
The world can't deny individuals who has the requirements for what the exchange is demanded because of digitalization.
Moreso, there is no way the crytop could function without the fiats because the crytop Itself is a mere alternative source for payments which the value of Crypto is rated over with the value of fiats.
Crytop can't succeedingly force everyone to accept its digital technologies as long there are uneducated and digital illiterates.
Bitcoin can only succeedingly surpass the fiats in a global adoptions but can't get the fiats disappeared and seizes from existing else even the potentials competition in the crypto space would be doomed.

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Re: Can cryptocurrency make real money disappear
« Reply #59 on: February 19, 2024, 09:12:12 PM »
The world can't deny individuals who has the requirements for what the exchange is demanded because of digitalization.
Moreso, there is no way the crytop could function without the fiats because the crytop Itself is a mere alternative source for payments which the value of Crypto is rated over with the value of fiats.
Crytop can't succeedingly force everyone to accept its digital technologies as long there are uneducated and digital illiterates.
Bitcoin can only succeedingly surpass the fiats in a global adoptions but can't get the fiats disappeared and seizes from existing else even the potentials competition in the crypto space would be doomed.

That's right !First of all now fiat currency, from the classic cash or non-cash (fiat) format is turning into a "CBDC-fiat" shapeshifter. It is no longer fiat, it is almost a cryptocurrency..... And no one will ever give cryptocurrency the status of an alternative, conditionally - international, or even local, currency in today's world. I will repeat one simple axiom - decentralized, independent financial systems are what will destroy the institutions of state power, in today's paradigm of the structure of states around the world.

 

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