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Author Topic: Can the cryptocurrency be the dominant currency surpassing EUROS AND DOLLARS?  (Read 9656 times)

Offline Anthony Estiva

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Good morning, fellow mates! The question here is always tickling my mind on what's the possibility of BITCOIN overtaking the US DOLLARS, EUROS AND BRITISH POUND as the dominant and hegemon currency all over the world economy.

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Good morning, fellow mates! The question here is always tickling my mind on what's the possibility of BITCOIN overtaking the US DOLLARS, EUROS AND BRITISH POUND as the dominant and hegemon currency all over the world economy.
No, bitcoin has no chance of that.  Dominance in the world of finance usually refers to the price dominance of Bitcoin in the cryptocurrency market due to its high capitalization.  In order to dominate conventional markets in terms of the volume of turnover, it is necessary that in this case, bitcoin displaces the common currency from circulation.  that is, dollar, euro, pound and so on.  However, bitcoin is not capable of replacing conventional currency.  It is conceived only as an alternative means of payment, and not a replacement for the traditional payment system.

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I think that is not possible because until now cryptocurrency still cannot be used for many countries and will never be able to replace fiat money, bitcoin will still be an alternative for transactions in cyberspace.

Offline sampoerna

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Actually, I can't say this because the dollar and euro are the real currency that is very dominant to more countries. So far, these two currencies have great power influencing the other currencies around the world. But here, I actually want to know, in what case it is will dominant? If it is about the value of each point and for investment, BTC may be higher.


Offline Altcoin1998$

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Good morning, fellow mates! The question here is always tickling my mind on what's the possibility of BITCOIN overtaking the US DOLLARS, EUROS AND BRITISH POUND as the dominant and hegemon currency all over the world economy.
Hello mate ,above all currencies are stable and governments supports currencies. Above all currencies also support banks and others agencies but bitcoin a virtual currency which has no government support. So no dominance on dollars, euros and british pounds.
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Cryptocurrency was created and should work only as an alternative to the current financial system of society.  It can only partially displace ordinary currency from circulation, but not replace it.  Therefore, it cannot dominate the dollar, euro, pound, yuan or other common currencies of states.  Moreover, states and their bodies will not widely use cryptocurrency.  To do this, they will already have their own national digitized central bank currencies.

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Cryptocurrency was created and should work only as an alternative to the current financial system of society.  It can only partially displace ordinary currency from circulation, but not replace it.  Therefore, it cannot dominate the dollar, euro, pound, yuan or other common currencies of states.  Moreover, states and their bodies will not widely use cryptocurrency.  To do this, they will already have their own national digitized central bank currencies.
Yes sir you are right because when bitcoin will accept by all countries simultaneously then it would have possible to dominance british pounds,yuan, euros , dollars and others stables currencies.
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Good morning, fellow mates! The question here is always tickling my mind on what's the possibility of BITCOIN overtaking the US DOLLARS, EUROS AND BRITISH POUND as the dominant and hegemon currency all over the world economy.

I think everything will happen mate, when Crypto currencies be accepted all countries. But I don't believe crypto currency can be dominant currency surpassing EURO and Dollar. I think they will have own crypto currency.

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Now bitcoin has too small capitalization compared to the dollar and EUR. Therefore, it is too early to say that bitcoin will overtake them.

Offline flyaccount

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I think it will be difficult if this crypto can be used as currencies such as Euros or dollars. Because crypto does not have a uniform system, the price continues to rise and fall so that there is no benchmark. This will be difficult to implement as a payment method like most currencies.
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Offline jakasantosa

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Many of the opinion that Bitcoin cannot be the dominant currency. And my opinion is the same and as the easiest reason is because Bitcoin does not exist in the form of objects like metal or paper. Meanwhile, US DOLLARS, EUROS AND BRITISH POUND have objects.
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I think until it is adopted at the state level in these countries, never! But if bitcoin gets acceptance, it will quickly win the place of the main world asset along with gold and others!
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Bitcoin has special advantages compared to the Dollar and Euro, although Bitcoin is not able to be more dominant than the two currencies, Bitcoin will still be chasing it a lot. 
The main advantage that Bitcoin has is that Bitcoin can be used as an investment with a very high potential value, which Dollars and Uero don't have.
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Now, it is because not all countries accept cryptocurrency as payment methods. As in my country, crypto is only legal as asset, the digital asset, but not as a currency. In this case, the use of crypto as currency will be probably against the currency in each country and it will be very difficult to overcome it.

 

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