Can cryptocurrency make real money disappear

[pinguri]

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.

[trendcoin]

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.

[0t3p0t]

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.

[yohananaomi]

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.

[OWAS]

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

[0t3p0t]

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.

[Mr. Allcrypto]

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.

[yohananaomi]

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.

[Dr.Bitcoin_Strange]

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.

[EluguHcman]

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

[bitterguy28]

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.

[yohananaomi]

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.

[JoyMarsha]

There are things that one should be given a thought to happening, there are things we shouldn't. The thought of cryptocurrency making money disappear in the future is impossible to analyze that fact even though we want or make use of cryptocurrency in storing our assets, not for money to disappear entirely because of that since money can still be used for the payment of goods and services, and also pay little bills without the demand of internet connection or transactions fees. That advantage alone makes the use of money supersede cryptocurrency.

[0t3p0t]

There are things that one should be given a thought to happening, there are things we shouldn't. The thought of cryptocurrency making money disappear in the future is impossible to analyze that fact even though we want or make use of cryptocurrency in storing our assets, not for money to disappear entirely because of that since money can still be used for the payment of goods and services, and also pay little bills without the demand of internet connection or transactions fees. That advantage alone makes the use of money supersede cryptocurrency.

Yeah exactly. Cryptocurrency and fiat can operate along side each other to come up a much better financial flow in the society as they do have different technologies that might also correspond to their respective function as what they were intended to be. i mean their role as a crypto and a fiat makes the people to decide which of which works for them.

[DrBeer]

To get a real answer to this question, we need to "dig a little deeper". First, we need to understand the role of money. The role in an object called the STATE.
We often confuse the simple exchange of money<->goods, thinking that the whole financial system is aimed only at this. And this is the main misconception, assuming that cryptocurrency will replace real money.
In the paradigm of a simple money<->good exchange process, money can be replaced by anything ! For example cowrie shells, glass beads, skins, .... anything that has already been there before today.) But real money in the real economy is not only an equivalent of value, it is also fuel for the economy, it is a mechanism for the realization of state obligations to the population, it and forced manipulations ...
And now the key question, which will allow you to get an answer to the question in the title of the topic, can a decentralized financial system, on which the government has no influence and control, to realize all that realizes fiat, or even CBDC, the financial system of the STATE ?
 
PS No one has yet been able to outline and describe to me how the economy will work (in the modern paradigm, and in the existing rules and principles) on a decentralized monetary system without controlled emission. Maybe someone can ? If yes - this person has a great future !