Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Modeo147 on March 27, 2019, 10:56:39 AM
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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.
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Yes, I agree with you! Fiat money may not disappear, but there will be a prevalence of crypto currency
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May be future it is predictable that cryptocurency may take place of current currency. Real money will be disappeared if it happens. But it need a lot of time and permissions from whole world togather with in United Nation. Which is almost impossible.
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It'd take a complete transformation of the currenct economic system for that to happen, I think both will exist in tandem for now
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I don't believe that fiat cash will disappear in a near future. Always have in mind that you need an internet connection to process digital payments and in many places in the world, the internet infrastructure is not soo good to handle those types of payments.
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It's hardly possible.
Just imagine if the world will lose electricity for 1 day, what will happen?
The same with crypto and cash.
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It may happen, but it will take a lot of time. Countries are not isolated, they have relations with each other. If the country A decides to substitute fiats with crypto, how will it trade with the country B that is far from implementing cryptocurrency. So, I think it will be a step by step process, countries will team with each other to adopt crypto simultaneously.
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Until this very moment, I can safely say that this is something that not gonna happen in fact we was close to it 2 years ago more than we are at the moment at least the the near past people would measure their gains in trade by how much Bitcoin they managed to profit but right now 95% of people are measuring their gains by how much $$ they managed to profit and that is because most new people entered Crypto market just did for the money, not for the idea itself. I hope that this is can be changed in the future but until now there are no signs of this.
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I think the future without real money - this is reality! Crypto - this is more comfortale and easier
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The national money of the state will never disappear. They will exist as long as there are states with different political and economic interests.
Some states may try to get rid of cash in the future. Now Sweden wants to do this, but I’m not sure if she will succeed.
Cryptocurrency will not be able to oust the cash or non-cash money of the states. They will exist in parallel with each other.
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I think everything is possible over time. Previously, people did not want to use bank cards, but now they are an inevitable part of the lives of many people.
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I don’t think fiat or crypto are in head-to-head, direct competition with each other.
Similarly, good cryptocurrencies are used and will be used for narrow use cases. I don’t believe they will be a total replacement for fiat currencies.
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Only in your dreams probably. Money is usually backed by some goods and services and in lot of cases even by Gold and that's it. So you should really not worry about this replacement. But if you have some money or... had, you should bought few bitcoins in the very past;)
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Only in your dreams probably. Money is usually backed by some goods and services and in lot of cases even by Gold and that's it. So you should really not worry about this replacement. But if you have some money or... had, you should bought few bitcoins in the very past;)
As soon as Bitcoin began to be talked about in society, approximately in 2008–2009, I asked my boyfriend to help me mine. He refused. I had to be more insistent. ;D ;D
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Cryptocurrency can not have such an impact on the usual currency to make it disappear. She just can't do it by nature. And the decision to abolish national money is made by the state, and it will never give up its national money.
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I don't think that cryptocurrency can make real money disappear. It can happen only if the whole world works on it.
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In less developed countries it is not possible. There, not everyone has even Internet, some people cannot use even VISA. Cryptocurrency means some independence from the governmental control. In such countries it is not feasible.
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Fiat money has replaced the coins, shells and feathers in the past, simply because they are accepted by the community and believe in the value they represent. If the government does not intervene, cryptocurrency will have strong development and soon replace fiat in the near future: 10-25 years.
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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.
I think there are two issues here
a) if you are asking if cryptos will become the only kind of money: no, as long as cryptos are not declared legal tenders.
In every country there must be a legal tender, a currency which sellers are obligated to accept.
It's possible that Gov or Central Bank will create some kind of cryptocurrency and declare it legal tender.
b) Fiat is money created ex nihilo by the central banks. Fiat is fake money.
The proof of it is what we call inflation. Currency depreciation.
Fiat, this kind of money exists only since the 70ies, when the USA withdrew unilaterally from the international agreements of Bretton Woods.
Before that money was gold, the Gold Standard.
Cryptos won't make money useless, they will make fiat useless.
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This cannot happen under any circumstances. Cryptocurrency generally does not have such an effect on the usual currency. In addition, to the usual currency disappeared, it is necessary that the appropriate decision was taken by the legislative body of the state, and this will never happen. No state will ever give up their national money. National money is a mandatory feature of any state. Losing your money means losing your statehood.
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This cannot happen under any circumstances. Cryptocurrency generally does not have such an effect on the usual currency. In addition, to the usual currency disappeared, it is necessary that the appropriate decision was taken by the legislative body of the state, and this will never happen. No state will ever give up their national money. National money is a mandatory feature of any state. Losing your money means losing your statehood.
You are right, no state will ever give up their national money.
National money is a mandatory feature (i.e. legal tender) of any state.
But Govs can replace paper banknotes and traditional electronic money with digital (blockchain) money.
It is not that they replace their national money, they only change the form national money gets exchanged and used.
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Fiat money has replaced the coins, shells and feathers in the past, simply because they are accepted by the community and believe in the value they represent. If the government does not intervene, cryptocurrency will have strong development and soon replace fiat in the near future: 10-25 years.
Cryptocurrency will never replace the national money of states. For the state, this will mean the actual loss of statehood and the loss of the ability to manage its economy, which will lead to the inevitable collapse. Therefore, the government of any state will be tough to prevent such attempts, from whom they would not come.
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Fiat money has replaced the coins, shells and feathers in the past, simply because they are accepted by the community and believe in the value they represent. If the government does not intervene, cryptocurrency will have strong development and soon replace fiat in the near future: 10-25 years.
Cryptocurrency will never replace the national money of states. For the state, this will mean the actual loss of statehood and the loss of the ability to manage its economy, which will lead to the inevitable collapse. Therefore, the government of any state will be tough to prevent such attempts, from whom they would not come.
To your words you can still add the fact that if the cryptocurrency will be aimed at destroying the dollar, it will negatively affect not only the United States, but also other countries and the world economy. Should not take into account the fact that dollars is an international currency.
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So far, the cryptocurrency does not have any significant impact on the ordinary currency of states and is unlikely to have such an effect in the future. Most likely, the cryptocurrency will adapt to the usual currency, and not vice versa. In any case, cryptocurrency can go in society only along with the national money of states.
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No way ones in power will ever let this happen... but it sure would be an interesting view! Then imagine a blackout -
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If the cash of the states ever disappears, then this will not happen under the pressure of cryptocurrency. Cryptocurrency is simply not capable of this.
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Our financial system is designed in such a way that no alternative can replace fiat currencies, although bitcoin needs to be given credit because this coin managed to make a stir in the financial sector.
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I don't think crypto as an entire getting to be|are"> are going to be going to zero, rather only those (a greater number) with nothing to point out for will attend zero although many are already doing so.
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in my opinion the fiat currency will not disappear, but the fiat currency will be a little bit to slide with crytorency because crytorency is easier to use for trading
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I believe in technology and yes it will! because central banks are implementing their own token. but it takes years to be implement but for now we need to enjoy fiat money value.
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I think that's possible...
technological development is about efficiency, paper money is an old product, and one of the spreaders of viruses, the world needs an efficient and safe way to deal with viruses.
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I think the future without real money - this is reality! Crypto - this is more comfortale and easier
I do not think so. because crypto and fiat have different characters. I agree that crypto and fiat complement each other
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I think the future without real money - this is reality! Crypto - this is more comfortale and easier
I do not think so. because crypto and fiat have different characters. I agree that crypto and fiat complement each other
agree, that there are two differences that can not be combined but to complement each other is a must.
fiat is of course still very much needed for traditional markets which are still widely available in almost all countries today. because the habits that are already attached to society certainly cannot be changed quickly.
Technological progress is certainly inevitable and the need for crypto or electronic money is also very much needed to facilitate transactions, especially during the current pandemic.
but progress must not break a habit which is still ongoing.
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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.
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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.
It is clear that crypto money is very advanced and easy to use but there are still many countries that do not recognize it as a legal medium of exchange, this is also a dilemma in itself and one must perceive it to be widely used. it still takes time, especially since many countries have made their own digital money for domestic transactions.
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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.
It is clear that crypto money is very advanced and easy to use but there are still many countries that do not recognize it as a legal medium of exchange, this is also a dilemma in itself and one must perceive it to be widely used. it still takes time, especially since many countries have made their own digital money for domestic transactions.
In short, there are countries that are still fighting with cryptocurrencies :) There are so many unnecessary cuts from people's income from their purchases in the smallest commercial transactions that people now have to turn to these currencies. I think it will spread to all countries of the world in time. whether states want or not. but they may want to take control.
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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.
It is clear that crypto money is very advanced and easy to use but there are still many countries that do not recognize it as a legal medium of exchange, this is also a dilemma in itself and one must perceive it to be widely used. it still takes time, especially since many countries have made their own digital money for domestic transactions.
In short, there are countries that are still fighting with cryptocurrencies :) There are so many unnecessary cuts from people's income from their purchases in the smallest commercial transactions that people now have to turn to these currencies. I think it will spread to all countries of the world in time. whether states want or not. but they may want to take control.
actually the moment of the corona pandemic was the start of people being forced to use digital money for fear of contracting it. but because many countries have not yet expanded their internet network, it is still very difficult, of course, obstacles also occur. but we can be sure that it will eventually be forced or not, all will need.
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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.
It is clear that crypto money is very advanced and easy to use but there are still many countries that do not recognize it as a legal medium of exchange, this is also a dilemma in itself and one must perceive it to be widely used. it still takes time, especially since many countries have made their own digital money for domestic transactions.
In short, there are countries that are still fighting with cryptocurrencies :) There are so many unnecessary cuts from people's income from their purchases in the smallest commercial transactions that people now have to turn to these currencies. I think it will spread to all countries of the world in time. whether states want or not. but they may want to take control.
actually the moment of the corona pandemic was the start of people being forced to use digital money for fear of contracting it. but because many countries have not yet expanded their internet network, it is still very difficult, of course, obstacles also occur. but we can be sure that it will eventually be forced or not, all will need.
Keeping up with the changing and developing world is now an obligation that everyone should do. Because the only constant is change itself. Anyone who is biased away from the crypto world will lose.
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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.
It is clear that crypto money is very advanced and easy to use but there are still many countries that do not recognize it as a legal medium of exchange, this is also a dilemma in itself and one must perceive it to be widely used. it still takes time, especially since many countries have made their own digital money for domestic transactions.
In short, there are countries that are still fighting with cryptocurrencies :) There are so many unnecessary cuts from people's income from their purchases in the smallest commercial transactions that people now have to turn to these currencies. I think it will spread to all countries of the world in time. whether states want or not. but they may want to take control.
actually the moment of the corona pandemic was the start of people being forced to use digital money for fear of contracting it. but because many countries have not yet expanded their internet network, it is still very difficult, of course, obstacles also occur. but we can be sure that it will eventually be forced or not, all will need.
Keeping up with the changing and developing world is now an obligation that everyone should do. Because the only constant is change itself. Anyone who is biased away from the crypto world will lose.
It seems that it has become an obligation for those who are technology literate to always follow developments in everything that happens, especially about updates that might provide good education.
It is undeniable that crypto at this time is something that must be understood because economic development will be directed in that direction if we do not know then we will be eliminated.
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The digital asset which is the crypto is also stand as a medium of exchange to fiat money so I don't think crypto will make fiat currency to disappear because many of us still need physical currency to operate with in the real world.
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The digital asset which is the crypto is also stand as a medium of exchange to fiat money so I don't think crypto will make fiat currency to disappear because many of us still need physical currency to operate with in the real world.
Digital money is really needed in the current era of progress, especially after the pandemic, but the use of fiat is clearly still needed because there are still many countries that need it and still use it as a legal means of payment.
let crypto and fiat run on each other that has been running so far and complement each other.
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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.
No actual money means we are safe from inflation. Fiat and crypto is a perfect match due to it's different technology and purpose of transactions though they have similarities but for me I personaly like the convenience of cryto like Bitcon.
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I think that's possible...
technological development is about efficiency, paper money is an old product, and one of the spreaders of viruses, the world needs an efficient and safe way to deal with viruses.
Please try and consider some external factors. Fiat wouldn't work in many countries especially in a developing and a third world countries where there is no Internet access. Your explanation doesn't really shows the message and how it will be possible.
So many investors are here purposely for the gram and profit to fiat, don't think fiat will be going anywhere soon.
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Crypto currency is here to coexist with fiats and not make it disappear; hence fiat and money will continue to exist. The blockchain, bitcoin and other crypto currency are to give the world alternatives when making payments; nothing will stop the blockchain and decentralization and likewise, nothing will stop fiat too from existence
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This has been the conventional talk of the crypto enthusiasts in the past in other to convince the noobs into cryptocurrency but we all know that's a nonsensical talk. Bitcoin is independent of other currency, its left for others to invest in it or stick to their normal traditional hedge against inflation.
The bottom line is, you should invest wisely.
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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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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.
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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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Fiat and cryptocurrency coexist with each order for the exchange of goods and services, therefore crypto cannot make fiat disappear. I don't see any nation rejecting its currency because of cryptocurrency.
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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.
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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.
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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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I don't really think so but I believe it will make it less valuable.
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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.
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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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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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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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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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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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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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Cryptocurrency has the potential to disrupt traditional financial systems, but it's unlikely to make real money disappear entirely. Instead, it may redefine how money is stored, transferred, and perceived, coexisting alongside conventional currencies rather than replacing them entirely.
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The national money of the state will never disappear. They will exist as long as there are states with different political and economic interests.
Some states may try to get rid of cash in the future. Now Sweden wants to do this, but I’m not sure if she will succeed.
Cryptocurrency will not be able to oust the cash or non-cash money of the states. They will exist in parallel with each other.
This is called seigniorage rights and it is a huge power for states. I am also negative towards fiat currencies, but if I were a government leader, I would not give up this right because the power to print money is like creating something out of nothing, and creating something out of nothing is a divine power. Fiat currencies will not disappear, but paper and coins may one day be moved to the blockchain. I have parallel ideas with you on this.
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Cryptocurrency has the potential to disrupt traditional financial systems, but it's unlikely to make real money disappear entirely. Instead, it may redefine how money is stored, transferred, and perceived, coexisting alongside conventional currencies rather than replacing them entirely.
If we are talking about investments I think Bitcoin will take over but as a form of currency it won't make fiat disappear and governments don't want that to happen we all know that of course. They are designed to coexist though they have similarities but nowadays we treat Bitcoin more of an investment rather than just like being a fiat sustitute as we cannot do that on a daily basis.
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Cryptocurrency has the potential to disrupt traditional financial systems, but it's unlikely to make real money disappear entirely. Instead, it may redefine how money is stored, transferred, and perceived, coexisting alongside conventional currencies rather than replacing them entirely.
If we are talking about investments I think Bitcoin will take over but as a form of currency it won't make fiat disappear and governments don't want that to happen we all know that of course. They are designed to coexist though they have similarities but nowadays we treat Bitcoin more of an investment rather than just like being a fiat sustitute as we cannot do that on a daily basis.
Traditional markets have their own markets and will not be disturbed by crypto developments, they are used to using traditional methods with visible currency and cannot be interfered with by crypto.
And I'm also not sure that crypto will be able to eliminate fiat because what you say is true, the government doesn't want any intervention to be carried out on the authorization it has just because it wants to accept crypto.
Everything will run side by side and will always cover each other for the needs that will be carried out, because transactions for changing from crypto to fiat and vice versa are very easy, so there is no reason for the changes that have occurred to date.
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Cryptocurrency can't have such a strike on our usual currency to make is disappear just like that without the state coming together to strike out the nation currency without concrete agreement and even with it I feel is not still possible and nature cannot make it happen either
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Cryptocurrency has the potential to disrupt traditional financial systems, but it's unlikely to make real money disappear entirely. Instead, it may redefine how money is stored, transferred, and perceived, coexisting alongside conventional currencies rather than replacing them entirely.
If we are talking about investments I think Bitcoin will take over but as a form of currency it won't make fiat disappear and governments don't want that to happen we all know that of course. They are designed to coexist though they have similarities but nowadays we treat Bitcoin more of an investment rather than just like being a fiat sustitute as we cannot do that on a daily basis.
Traditional markets have their own markets and will not be disturbed by crypto developments, they are used to using traditional methods with visible currency and cannot be interfered with by crypto.
And I'm also not sure that crypto will be able to eliminate fiat because what you say is true, the government doesn't want any intervention to be carried out on the authorization it has just because it wants to accept crypto.
Everything will run side by side and will always cover each other for the needs that will be carried out, because transactions for changing from crypto to fiat and vice versa are very easy, so there is no reason for the changes that have occurred to date.
Yeah true. I actually have different opinion on this before but it is now clear to me that both assets are great being used at the same time depending on how we see and use fiat and crypto on different things. Yeah there really is no reason for changes for now but they both needs improvements so they can be more convenient to use and is safe for it's users especially in the future where threats of inflation in fiat and security on both systems as we all know technological advancement is inevitable I mean the threat of quantum computers.
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I don't think that cam happen, because local currencies of a country is used by the citizens of that country.
It can only minimize the rate at which the government print the currency note, because in digital world there are banks and also people have crypto currency wallets.
Since most companies and organizations pay in crypto currency the use of crypto currencies will be very much active. But it won't make the real currency disappear.
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I don't think that cam happen, because local currencies of a country is used by the citizens of that country.
It can only minimize the rate at which the government print the currency note, because in digital world there are banks and also people have crypto currency wallets.
Since most companies and organizations pay in crypto currency the use of crypto currencies will be very much active. But it won't make the real currency disappear.
You are right, perhaps it would be more appropriate not to eliminate currencies that have been used for a long time, but instead complement each other for every transaction carried out between them.
But it is true that currency will gradually be reduced because the use of electronic currency has begun to become a culture and is simpler and easier to use, but even then, it will not be able to actually eliminate currency.
The use of crypto is possible for countries that have been able to accept it as a legal transaction tool, but not for countries that have not yet recognized it, so there are still limitations and crypto is more likely to be used as an investment, just like shares and gold in general.
So I agree, real currency will not be eliminated, but it will probably be reduced because the cost of printing money is also quite expensive, so there will be cost savings.
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Until this very moment, I can safely say that this is something that not gonna happen in fact we was close to it 2 years ago more than we are at the moment at least the the near past people would measure their gains in trade by how much Bitcoin they managed to profit but right now 95% of people are measuring their gains by how much $$ they managed to profit and that is because most new people entered Crypto market just did for the money, not for the idea itself. I hope that this is can be changed in the future but until now there are no signs of this.
You are completely correct. Some people go into cryptocurrency for the prospective profits rather than the technology behind it. Blockchain technology has the potential to impact a wide range of sectors in the future. One example is health services. Currently, medical records are frequently kept in separate systems that do not interface with one another. This can lead to incorrect information, and patients may have difficulty accessing their own records. However, blockchain technology allows for the creation of a secure, unbreakable system for maintaining and disseminating medical records. This might increase productivity, eliminate faults, and give patients greater control over their own information.
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The invention of Bitcoin as a foremost cryptocurrency was never designed to replace the fiats instead it would serve for Alt source of payment otherwise crypto would loose it competitive value
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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.
Do we really wanted to make money disappear?
are we ready to have no physical money ? and can crypto really sustain the needs and the obligation of transacting and money spending of the world?
I don't think this is happening and I don't think that we are ready for this.
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The invention of Bitcoin as a foremost cryptocurrency was never designed to replace the fiats instead it would serve for Alt source of payment otherwise crypto would loose it competitive value
I agree with what you say. Indeed, its main purpose is as digital money used for transactions and also as a partner with fiat, to complement each other where perhaps neither one can fulfill it.
The need for each other cannot be separated and will continue to be used as long as it can be done, because both always have limitations.