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Author Topic: Can the cryptocurrency be the dominant currency surpassing EUROS AND DOLLARS?  (Read 9650 times)

Offline dodok

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in my opinion bitcoin cannot replace fiat money, because not all countries can accept bitcoin, it is also very difficult to introduce bitcoin to the public, in my opinion bitcoin can only be used as an alternative payment and also used for investing.
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Offline Ace H Knows

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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 if we base on the current situation, It's not going to happen even in the near future, because central banks are already creating a digital version of their fiat currencies by using Blockchian so with that position I believe digital Fiat will catch up. to the cryptocurrency advancement.

Offline Cristiano

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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.
You are right, moderator brother, I agree with you.  When Bitcoin is legalized all over the world, it will be possible for the Bitcoin dollar to pound the euro pound on other stable currencies.

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Of course, everything is possible, but to achieve such goals we will have to wait many more years, of course, because so far only few countries have legalized bitcoin and the whole world needs to legalize bitcoin and other cryptocurrencies, and this will take a lot of time, but in the future I think that there is such an opportunity.
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Offline rizqillah

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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.


Yes ,I think Crypto currency can be the dominant currency and surpassing EUROS and dollars. But it will take several years again.  Maybe when digital era coming, we will see Crypto currencies be dominant.
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Offline labonikhatun

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The united states is far ahead in terms of crypto use most people use cryptocurrencies to convert dollars that's why the euros can never surpass cryptocurrencies are very influential and top all currencies. If a country uses the euro to issue its own currency it will take a long time to overtake crypto it is not easy to rise to the top like crypto.

Offline comer

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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.
bitcoin is not created for that purpose neither bring down the countries currency instead it was created to support the shortcoming of the fiat currency. I believe the fiat and crypto currency will work hand in hand in bringing inefficient and reliable financial institution to the world.
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Offline Trumpet

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I think bitcoin has no change it has going steel  because bitcoin are not allowed every country.it has illigal Manny countrys.so I think it's not possible.
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Offline Emircan

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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.
I can't because it's difficult to do that because any currency in the world is always managed in terms of supply and demand. BTC or electronic currencies are always transparent and clear when it is always sticking to the market and its price is always decided by the user by trading. I believe in the future there will be more cryptocurrencies of the major nations will be accepted for global payments
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Of course, everything is possible, but to achieve such goals we will have to wait many more years, of course, because so far only few countries have legalized bitcoin and the whole world needs to legalize bitcoin and other cryptocurrencies, and this will take a lot of time, but in the future I think that there is such an opportunity.
In my opinion, the future is difficult for anyone to know. But I believe there will be 1 coin that all the countries of the world can use them to trade and circulate around the world. But it should be transparent and accepted by all countries of the world
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I can say the reason is still unclear right now but if we are going to measure the reason base on the popularity of bitcoin there will be a chance. In this case,  we can't till when it will occur because we are talking here just about the possibility.

Offline AllSii

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I can say the reason is still unclear right now but if we are going to measure the reason base on the popularity of bitcoin there will be a chance. In this case,  we can't till when it will occur because we are talking here just about the possibility.
The entire cryptocurrency market is too small when compared to traditional money. In addition, the cryptocurrency is very volatile and therefore it is not suitable for settlements between different countries of the world.

Offline Tanimariya

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Much more convenient for transactions than dollars and euros. Is at the top of popularity worldwide. I think the whole world will survive. Bitcoin is best for transactions. The dollar and euro transactions have lost a lot.

Offline msz900

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All the mentioned Fait money has its own positions and the crypto currency has its own. Many countries are trying to introduce their own crypto currency because of the COVID-19.
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Offline Arkann

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All the mentioned Fait money has its own positions and the crypto currency has its own. Many countries are trying to introduce their own crypto currency because of the COVID-19.
National currencies are depreciating and, in any case, every year more and more cryptocurrency users will increase. Based on this, the use of fiat currencies will be subject only to government requirements and nothing more.

 

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