Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Abdulcrypto784 on August 07, 2021, 06:17:45 AM
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What you think in the future cryptocurrency replace the paper currency all over the world
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I don't see cryptocurrency fully replacing the paper currency used by countries all over the world. Governments will soon have their own CBDCs so in a way paper money can slowly be gone but CBDCs are centralized and controlled by central banks. As to cryptos, the government will never allow that to happen, yes it is possible that Bitcoin and the rest of the gang can be allowed to be circulated legally but only a few countries will be following the path trodden by El Salvador. And it is all about control. Do you think those powers will give up that control? No, tell that to China, Russia, Iran and North Korea and you can have a big laugh back.
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No, cryptocurrency cannot replace paper money as part of fiat. Paper money can only replace the digitized currencies of these states, and even then I doubt that it will be. Only some of the most developed countries can afford it in the future. A significant part of society is simply not ready for this. Some categories of people will be against the disappearance of paper money. In addition, the transition to non-cash payments will enable the government to fully control the financial expenses of each person.
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I have always thought that it takes many years for cash to be completely eliminated from society, if it is legal and the laws of each country allow it. But without a doubt what will cost more time and resources will be the education of the population, not everyone has access to an internet connection, not everyone has a smartphone, and besides, after all that, there is the education on how to manage money digitally when there are many people who have not done it yet.
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It may be possible to say that crypto currency is going to replace paper money is not going to be very easy like that, there's already a battle in that expect of Cryptocurrency is going to replace paper money, for me not everybody is aware of digital money that's why I think paper money will not be replaced by Cryptocurrency, which is digital currencies,it can only be made available for those that are digitally knowledgeable.
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It may be possible to say that crypto currency is going to replace paper money is not going to be very easy like that, there's already a battle in that expect of Cryptocurrency is going to replace paper money, for me not everybody is aware of digital money that's why I think paper money will not be replaced by Cryptocurrency, which is digital currencies,it can only be made available for those that are digitally knowledgeable.
Yes, I think It will take several years again, the popularity of crypto currency will increase and more be popular than now.
But I believe crypto currency will have bright future, and has potential to replace paper money. Digital era will come.
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Replacement of crypto to fiat will only happen if:
- All countries in the world legalize crypto as digital assets and also a currency
- All countries in the world are ready with the adoption, it includes all citizen must be ready with the technology, no more traditional market, and payment.
So, when it will happen?
I am not sure it will happen during this one hundred years later. Maybe it will be hundreds of years later or thousands. Because replacing fiat with crypto is such very difficult thing
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Replacement of crypto to fiat will only happen if:
- All countries in the world legalize crypto as digital assets and also a currency
- All countries in the world are ready with the adoption, it includes all citizen must be ready with the technology, no more traditional market, and payment.
So, when it will happen?
I am not sure it will happen during this one hundred years later. Maybe it will be hundreds of years later or thousands. Because replacing fiat with crypto is such very difficult thing
From my point of view, the most difficult thing is the education that the entire population of a country would need without leaving any citizen behind, doing something like that would require constant education. The governments of each country must have a very open mind, and not reject cryptocurrencies out of fear or ignorance, as many countries do, and that is something that also takes time.
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It is a very difficult situation. In the future, maybe but I don't think it will happen during this a hundred years later.
Fiat or paper money is owned and regulated by the government. And the government will never lose this to crypto moreover crypto mostly is not regulated.
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It is a very difficult situation. In the future, maybe but I don't think it will happen during this a hundred years later.
Fiat or paper money is owned and regulated by the government. And the government will never lose this to crypto moreover crypto mostly is not regulated.
And what will happen when crypto belongs to governments?
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It is a very difficult situation. In the future, maybe but I don't think it will happen during this a hundred years later.
Fiat or paper money is owned and regulated by the government. And the government will never lose this to crypto moreover crypto mostly is not regulated.
And what will happen when crypto belongs to governments?
Tax. Corruption. Greediness. Conflict of interest. Over all regulated. IMO
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Tax. Corruption. Greediness. Conflict of interest. Over all regulated. IMO
Before all of this happens you will be able to cash in big