Bitcoin Forum

Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?

Im not sure governments are going to happily accept bitcoin as a replacement for their fiat currencies. You have to ask yourself: why? what do they win doing that?

Why would governments replace their currencies, which they control, for a currency that nobody controls? It makes no sense.

I see bitcoin as a neutral asset like gold primarily, secondarily as a currency, and it will depend on the people using it or not. The big mistake is considering bitcoin before digital gold, because that's where big blockers ruin everything.

No and no. Cryptocurrencies will be used alongside FIAT unless governments decide to create their own centralized blockchain-based currency.
Governments would never replace a currency that they control with one that they don't.

Looking at the market cap, certain crypto-currencies such as Bitcoin, Ethereum and Ripple have already overtaken some of the long-established fiat currencies. But we can't yet compare the major fiat currencies (USD, EUR, JPY, CNY.etc) with the crypto-currencies. For example, the market cap of United States Dollar is at least 25 times greater than that of BTC.

Some of the countries have already took those steps and they are not allowing bitcoin and other crypto currencies. One country is using a crypro like currency so they dont want anything to do with other to avoid confusion and it might be a real threat.
Ain't it becoming a real threat now.
They are doing steps which are popping up from everywhere. Fake news and other stuffs to avoid this currency specially bitcoin.
Making it look bad to the public for it not to grow more.

Indeed it got the potential.. crypto is fast, stable, secure and trusted as well

They could not ban crypto-currencies, because the thin string that keep them to power would be broken in case they start doing it. But they have the potential to take the whole online payment area.

I don't think cryptocurrencies can replace regular currencies simply because crypto don't work offline whereas regular currency does. Moreover, crypto are decentralized and the government would not allow the decentralized system to take over their centralized system, the one government can control.

Before bitcoin able overtake fiat , my goverment still not legalize at the moment as bitcoin may be act as threat on the future
For example : my country are against terorism and corruptor so when they are using bitcoin as their transaction will become their advantage to cover their transaction

If you think Govt will allow to replace its country currency with cypto currency then this will be never happen. Yes both the currency will exists but cypto currency is not accepted in some countries and due to this this lack against the regular currency. And country currency is being regulated by govt and this is not so with the cypto currency.

Anything is possible, but in my opinion crypto-currencies have outgrown the reach of any particular government. they will try, Russia tried and abandoned the idea. I think the opposite will be the case and governments will embrace it but will develop their own blockchains.

Banking and Financial Institutions come under the category of 'service' which means serving the customers. The sole motive of such institutions is to work in accordance to people's needs. So rather than being dependent on banks or government to implement cryptocurrencies, we should start using them at personal level. When people use cryptocurrencies among them and start demanding them, banks would left with no alternative than refreshing the fiat with cryptos.
"If buyers demand apples then why would seller sell bananas."

Exactly, many countries are still having difficulties on having a stable internet connection. the not everyone can afford an internet connection is already obvious but in some

countries like mine, we have a very slow but expensive internet so it is the first problem that needs to be solved first. second, countries who have issued a risk assessment or a

warning regarding cryptocurrencies often said that it is not backed by anyone which is true as no one can control it so that fact will certainly become a reason on why they won't.

third, i think most countries are satisfied with our current money system right now so unless something terrible happens they won't replace it

First, there is the scaling problem. You might think that this only affects Bitcoin, but in fact it's the same for any other cryptocurrency - they can't process more than 20-30 transactions per second at best, while visa is processing around 3000 transactions per second. There will be lots of improvments with cryptocurrencies that will increase their capacity, but demand will also be growing, because right now only around 40% of humanity has access to banks.

The other factor is how attractive they look, in comparison with traditional currencies. Most users won't care about decentralization and financial freedom, they need fast, simple, cheap payments, and if cryptocurrencies won't be able to provide this, than they will be mostly used by people who need their special features.

I'm sure that cryptocurrencies have a bright future as assets, but their utility as currency remains uncertain. I have a very high hopes for the Lightning Network though.

it is hard to know, bro. There are still many issues inside which can not be solved yet. Bitcoin, as well as other cryptos, is created with the good purposes in order to help people in many ways. But, most of them are decentralized. The government, on the other hand, want to take control over the people. They want to know everything about their citizens. Well, I believe that once crypto overtake regular currencies, there will be no country in the world anymore

Some cryptocurrencies are often considered as a commodity, given their overall supply is limited (21 million in the case of Bitcoin). In several notable cases, these cryptocurrencies are proving themselves as a valid complement to existing fiat currencies. However, their supply rate cannot be adjusted to respond to global or regional economic conditions, which is one of the secondary monetary functions of currencies. Their neutrality to the economic environment is also considered their limit to eventually replace fiat currencies.

Governments has seen the potential of bitcoin and others cryptocurrency and that is the reason they keep blocking the progress of bitcoin.  In reality governments, group of people and individual can not banned bitcoin because bitcoin did not need them to be accepted because it is decentralized. I have seen bitcoin and cryptocurrency been used in the place of fiat in future because of it nature  and cheap for governments compared to fiat.

No. They're not usable as currencies. If the world economy ran on them in their present form there wouldn't be much of an economy left as it's set up to make us buy as much tat as possible.

As long as governments charge tax, they're going to ask for tax in the currency they control and governments will always charge tax.

Government always wins. Cryptocurrencies will be either banned or will be fully controlled by the government, they will not let anything to spoil their full people control project.

If bitcoin becoming, the goverment will take control on it, of course tax will be collected. Therefore, bitcoin and local currencies may equal because of that tax and that could be a huge income by the government. But to overtakes from local currencies, yes in some aspects because they are totally different. Bitcoin is just in online transactions, not  like local currencies that can be used online and any regular transctions.

I think the government banks and cryptocurrency have their respective goals and I hope they do not touch each other. Because at this time many people have chosen cryptocurrency but on the other hand there are people who can not choose it because of certain factors, so there are people who will use the banks. Because both have advantages and disadvantages of each.

i am not sure if government will implement countermeasures with cryptocurrencies, i think its not be good for government itself because technology cryptocurrencies is a new technology that could help the economy of the country. and if they banned cryptocurrencies then they are out in their own limit because new technology is always come out and release. if they underestimating this, they in future, they will be regret and they can not following cryptocurrencies.

Yes they have a potential to overtake the regular currencies because the technology is evolving and having a lot of cryptocurrencies will make us to choose what is the best cryptocurrenciy for our needs. Bitcoin and other cryptocurrencies can be used for the future payment system which is a lot way faster and cheaper than the regular currencies so we can see more people getting into bitcoin and using it more often than the regular currencies.

Not possible as of now even though cryptocurrencies are already gaining attention worldwide because of its marketcap and its usage specially into bitcoin. Government wont really be on doubt that it will surpass local fiat anytime soon since they do really have the power to implement rules on their own country and they can anytime implement or restrict on usage of it or worst case possible is not to adopt it but for those believers or users cant really be stop no matter how government would restrict it and that's really an advantage specially for a certain person who do likes to have full control of its money.

That is not possible, governments will never let their privilege to print money at will. Bitcoin can be however the most used currency, but will not make the others disappear.

Yes it is very possible that in the future cryptos will take over. But I don't think that governments, apart from those who already banned bitcoin, will be preventing the course of events. Most likely they will adapt and will use cryptocurrencies for their own good.

They are sort of already doing something to this tune

And the seizure of Btc-e exchange may be the first herald of more to come (though there can be a lot of hidden political agenda behind this attack, of course). Regarding your last question about cryptocurrencies being a threat to conventional money, this is unlikely for the simple reason that neither Bitcoin nor other cryptocurrencies are used as currencies specifically (for the most part). They are no more than speculative assets and will most certainly remain those for the time being (and likely in the future too). So they are not competitors to fiat by any means to any significant degree. But this doesn't in the least mean that governments and banks are quite happy with crypto

Yes you are right that crypto will nearly takeover the world currency system. It will be seen that a time will come that people will stop going to banks and will keep their money with them safe. And why the way I don’t about other crypto that they will do this or not but I am damn sure about bitcoin as it’s value is increasing we can clearly see that it sill nearly be the source of income for most the people in the world.

I don't think so, the government and a lot of people from different country will have a lot of problem coping up with the cryptocurrencies, unless teachings of btc will be implemented on schools.
There's a lot of pro and cons with cryptocurrency.

Do you have any proof about it? And if the crypto currency will be taking over the world currency system, I think we should feel that by now through the way that the government moves and use bitcoin but they are not.

Here in our place, a lot of people do not know what a bitcoin is, some of the population know the digital currency and less that some population is the users of it. With that you can say that it will not taking over fiats.

Actually, it already did because Bitcoin price is higher than Gold and also the market cap is bigger than PayPal now...

In terms of value yes but in terms of totally replacing the fiat money maybe it can take so many years and probably decades before that can happen. What is sure on my view is that both monies can be co-existing peacefully. I also don't need the need to eradicate fiat money because there will always be people who are not interested with new technology and it would be difficult for them to adopt...we have to respect that. The government may not want to replace the fiat because that is a medium of managing one's economy.

If thwy can reach out to more people are more will be aware of crypto's potential to make life easier, then i think yes. Cryptocurrencies have a lot more to offer when it comes to transactional features which would make it easier to do things. Though again, its only a possibility as crypto's biggest challenge i think is to make it more accessible

I do not think that cryptocurrencies have that potential.
Right now we have a bitcoin high. Mainly because people consider it as a form of investment.
But a currency usually is no investment. You invest your currency. Or buy the things you need with it.
Bitcoins original intention was exactly that, to be a form of payment.
But it developed in another direction.

You don’t think the government is stupid do you ? Yes, they believe is a good stock for investment, but they won’t let over ride everything.

They’re just keeping silent, cause they are not yet seeing it as a harm to fiat, though if they find a way, they are likely to end it. They’ve got more important things to do than bitcoin. But I don’t believe Bitcoin will end anytime soon.

Overtake in what way? Because if you are talking about prices then cryptocurrencies won the game. But I think when you are talking about being the first choice or an official currency of anything then I think you might be dreaming because Cryptocurrencies won't be a first option to any country with an official fiat currency, its like you are accepting that your country's economy be controlled by another person.

I think it is very possible, of course financial problems will be more complex and fiat money will not be able to overcome and cryptocurrency can be a solution.

I think it will not happen since bitcoin are currency that are decentralized so if it taken by goverment , the decentralized concept will be undone
Also people who have bitcoin must pay some tax because of goverment regulation

Cryptos do have the power to overcome normal currency, but they can’t overtake the power of normal currency in the society. As the saying goes, seeing is believing, people would rather see their payment in front of them than for you to transfer through bitcoin.

There are still people who doesn't believe in safer online transactions mostly they are those who got scammed before or those who doesnt have knowledge on how it use. Overtaking rwgular may not really happen but it can lessen the users who use it mostly.

Yes, it's hardly not possible to overtake the regular currency in terms of usage as well in terms of acceptance. Cryptocurrency might grow with potential, but to overcome the regular currency it needs support from all levels. Same as described in a post, still there are users who fear of online transactions. So it cannot reach the entire population which is a must to overcome the growth of regular currency.

Not until big business start to accepting crypto as a means of payment,
but I don't think any business will give up their stack of cash so easily for a virtual coin,
something tangible is always more valuable.

    Cryptocurrencies, currencies that can be manipulated through the use of internet. It is possible for bitcoin to dominate real money but it is impossible for it to make it disappear. Because not all part of the world has fast and stable internet.

   As we see, bitcoin is one of a cryptocurrency. It is very famous and has high price. It is not impossible for it to dominate all cryptocurrencies even normal money. As it stays with its stability and improve more in its transaction and security.

I don't think cryptocurrencies can ever replace fiat. There will always be high demand for fiat among certain groups of people and there are people who will never consider using anything except fiat

I don't that government could prevent the people to use bitcoin since bitcoin is anonymous it means they will never know if if that person is being exposed in bitcoin. Besides, bitcoin is innovation that we can never be prevent. We should accept that bitcoin will be another way of payment in future hence, we should adopt and try to learn about this thing now. Yeah, there's a possibilty that cryptocurrency to ovetake the fiat however, we should know that there are many things that couldn't do of crypto.

A cryptocurrency will not overtake the fiat of a country.
First of all, basically all cryptocurrencies have turned out to be investments, not currencies.
A currency is something that has about the same value every day. Crypto currencies are much to volatile for that.
The second thing is that a national currency needs to be influenceable by the government.
Crypto currencies are just influenced by the market.

That's what going to happen in the future, government and banks will try to control the bitcoin growth. The success of bitcoin is scaring banks and the government, mostly governments want to regulate bitcoins according their own benefit and interests.

I know this question has been asked before, and my thought
at the time was 'no, never' but I kinda now think it would be possible
under certain circumstances.   Like hyperinflation.   In certain
countries like Zimbabwe or Venezuela.   It would take a lot for
people to choose crypto over gold & silver or another stable asset.
Unlikely,  but possible.

But it will be hard for them to do it so. Bitcoin is decentralized and can do transactions anonymously. In an advance government fully associated in technology programs they might find a way to track it,but why bother when there are more issues in their country needs to attend too. Regular currency will always have its use but it can be lessen it's uaer as time passed by for many believes btc is the future crypto and we are starting on saving it in.

I am willing to bet there will be at least 1 country out there in a few years who primarily uses bitcoin, probably not anything like the united states though. In fact, I believe a man is trying to create his own country named Liberland, and its primary currency is going to be bitcoin!

I don't think we could say that

Well, at least, not in respect to properly decentralized currencies (or cryptocurrencies which are allowed to be mined by only citizens of that country). In the past, many governments used gold as money, and whoever held most of gold could be said to have been controlling the world. As to me, it is rather a question of establishing a truly universal and genuinely decentralized currency (most likely a PoS coin) as a prerequisite for countries using it on par with their local currency (or instead of it)

I agree, usually people needs something that actually they can hold too, or rather they see to call that they are holding big assets -bank statements accounts. Cryptocurrency is online currency and not all people knows about it, try asking old ones if they knew bitcoin, they will just ask you what is that, then if you have explained it they will never believe that it existed nor they believe that there is an internet based money. Regarding legality, people usually trust something that is commonly uses like fiats, they can invest in bitcoin but minority will try to transact using bitcoin. Although cryptocurrency have higher value than most of the fiats, it can never replace the value for which the fiat reflects the power of the government.

Up to some extent, you are right. Crypto currencies are much more treated as investments than as currencies but the good thing is they can be treated in both ways. Crypto currencies will probably not over take fiat but are going to work side by side with fiat. In future, both forms currencies will be available for use.

To build on that it may actually help governments, the decentralised method. Although I don't think I'm a big fan, the government already has a tool in place to track bitcoin transactions since 2015. If a crypto would indeed be in place for a complete country, then the spending and receiving of money (crypto) would be completely transparent for taxes for instance. I know it's probably not what most people would want from crypto, but I'd see that kind of transparancy as a plus for government and thus, blockchain.

'm not sure if they'll ban Bitcoin just because it is a threat to fiat. If you mean threat as Bitcoin being more in demand or being more often to be used than regular currency. I think government can't do such thing if people would want Bitcoin to be usedcompared to fiat because the power is on people. Yhey might check its effect or benefits fir thselves.

Nah. There will always be die-hard fiat fans who want to spend physical cash. Well, at least for another century.

But would there be any difference?

I mean in comparison with today's fiat system based on commercial banks and digital fiat? Most transactions nowadays are already cashless, and the government can easily trace them if such a need should arise. So it is basically six of one and half a dozen of the other. Regarding cash transactions, introducing local cryptocurrencies is unlikely to change anything in this regard. People will continue to use cash as before, crypto or fiat

A single government working alone can never stop bitcoin from been used regardless of which ever counter measures are used their efforts will all be in vein as people will find alternative waysto use their bitcoins.

If the government choose to invest in cryptocurrencies then the have recognized that change is near, if you cant beat them join them!

This will remain a speculation but i do not think bitcoin has any bad intentions...

I don't think the government is underestimate crypto currencies, the government used to underestimate it but after a huge implementation, the government started to take precaution steps, the potential of replacing regular currency is none, but crypto currency can be the cause the tax income to decrease and can be disrupted the economic balance for a country

Crypto currencies can be banned if the usage is over and the country's income tax become really small and being used for illegal purchasing

I am confident of one thing cryptocurrencies will probably a hit in future time, many will adopt it such as establishment and other countries but I don't think it will become a threat to normal currencies because it can never replace them. The market of crypto currencies is limited to those people who have the knowledge in using internet and not all the members of the society can adopt that. For it to overtake regular currencies many aspect must be consider.

There are lot of features bitcoin have to deal with before it over take the current currency. Like better way of transaction, currently its not practical to use bitcoin because in every transaction you made there has to be transaction fee. It wont be attractive with the majority, it has to be attractive. Majority cares about fast,simple and cheap payment. If this features cant be offer by the bitcoin system, few people would only benefit with it, specially those who like decentralization. Moreover, bitcoin is was not made to overtake the traditional currency, they can go along side.

Normal currencies? to what extent? Currency is the physical one, while cryptocurrencies are the virtual one, even if this debates will always surely show in bitcoin forum, There is no way that a cryptocurrencies will take over fiat, and since we must always know that all cryptocurrency will always be involved with fiat money, describing it as a threat is unimaginable. For me Cryptocurrencies is another medium to drive people to use fiat money more to drive cryptocurrencies.

I don't think so, the government cannot intervene to take care of Bitcoin, because Bitcoin is
decentralization system. So, I think the Bitcoin can walk along with other local currencies in the future.

I don't think it was really intended to replace them. Replacing fiat currencies means dismantling governments themselves. Controlling national currencies is how governments keep their economies stable. They also work with the banking system to monitor the movement of money and catch tax evaders. Governments will never give this power up.


This is true for early adopters. In the coming years, interfacing with wallets and exchanges will be much easier and more intuitive for average folks. Even grandmas will be using bitcoin (whether or not they know it).

I don't think so because the regular currencies are regulated by the government and bitcoin is not ,for sure the government won't allow that to happen even if the popularity and acceptance for bitcoin is really that high nowadays

yes you are right to some extent but I think the bitcoin and the crypto currency do have the potential to overcome the normal currency but they cannot finish the value of the real currency and the normal currency in the society. As the time knows the currency and the fiat money is being more important than the bitcoin but if we look at the importance and the price of the currency then we must say that bitcoin is better than the currency.

It is not all about the price of the currency, it is all about the usage, stability and also the capability to use it online or offline. Those regular currencies or fiat money are the one who is very suited to those things that i said a while ago because it can work offline and online and its usage and stability is perfect for the world while the cryptocurrencies are not like that and they are just basing on the law of supply and demand.

Speaking frankly, I think crypto currencies especially bitcoin has the potential to overtake fiat and that is why there have been some attacks against it by some governments because they know if its left unchecked, it then pose a threat to their dominance over our daily lives and that's the potential that bitcoin has. Whether they will allow bitcoin live to achieving this potentials is another discussion entirely.

They could overtake fiat currencies in general usage if people lose confidence in fiat money en masse. Of course, governments can still mandate that national currencies be accepted for the payment of debts, so cryptocurrencies could never replace them entirely. I think that governments are preparing for increased cryptocurrency usage and are scrambling to figure out how to regulate it. Institutional investors also want in; everyone is waiting on the next attempt at an ETF.

I think we are past the point where governments and central banks can stand in the way. They can only try to exercise control over their populations' use of cryptocurrencies as best they can.

Yes, i think so. They simply have a conflict of interest in bitcoin because of the fact that it is decentralized, and it destroys their power. If they supported bitcoin they are essentially giving up their power as a central bank or big corporations that will for sure get bailed out by the government, and losing out on tons of profits.

Will they undermine this process? Of course they would. Look at how KYC on exchanges have become stricter and stricter over the past few years. It used to be an easy process to buy and sell altcoins, but now it's just as hard as say, buying btc.

But they will fail, imo, because there is no central point of failure. The downfall of libertyreserve and e-gold were that they had a single server hosting the files that the government can shut down. This isn't the same with btc. Now finally, does bitcoin have the potential? Definitely. It has the potential to change the world for the better, if enough people realize that there is a need for decentralization of economics.

I doubt that central banks would openly support Bitcoin; their selling point is stability, and they cannot do that with cryptocurrencies. I do think that governments may start hedging some national assets in bitcoin or other cryptocurrency, just like they do gold. It's possible that they're doing this already. They may not like it because they can't control it, but that's the same reason they can't prohibit it. Because other countries will keep pushing forward in this new and important sector.

All the new KYC everywhere you look does suck, but it's expected. As cryptocurrencies gain value, they become more useful for money laundering (if left unchecked).

I sincerely doubt this will ever happen. The best thing it could be achieved that cryptocurrencies become equaly accepted and recognized as fiat money but to replace it I think it's impossibe.
For this to happen cryptocurrencies need central banks and governments full suport and regulation but that is also something that many users wouldn't like to see.

Exactly what i had in mind. The changes that will be made, if ever banks and governments lay their hands on crypto, would strip crypto of the features that made users believe in it in the first place. I don't see any need for this. For now i like crypto the way it is. No need to overtake any current currency

Yeah, I know this is the scenario that is going to happen in the next few years. This is very effective to countries who are very active with modern technologies and always up to date.

No they don't have that much potential because the world is very big place where crypto currencies are little as compared to fiat currency. They don't have proper recognition yet and they have so many liabilities to cover first before they can be adopted in the real world. There application is very limited currently and they needs work of fiction to be completed to work properly.


The government and banks are enemies and they won't accept crypto currencies never, because if they do then they will go focus on its development and performing that would not be beneficial the government. I think that clears the whole thing.

I agree, because the internet in my country is not that good so it would be hard for cryptocurrency to become the local currency since not everyone has access to internet. Unless there's a way or technological innovation for cryptocurrency to be better than fiat currency, then I don't think it may be replaced just yet. It may be possible in the future, with more adoptions under way for it.

An advanced technology for advanced country it might fit and work without have to take long time to wait ,
But how about developed countries and even poor countries ?
I don't think it really required few years only , it requires a lot of times!
Always imagine about this all day all night , it could be wonderful really.

I strongly doubt that

Some governments may in fact be studying Bitcoin in particular and crypto (blockchain) technology in general, but I don't think any government is using any cryptocurrency for things you mentioned (like hedging. etc). If they ever wanted that, they would obviously use gold or the US government bonds (Treasuries). Bitcoin is just too risky to get used for anything as a vehicle for hedging. Hedging is employed when you want to minimize risks, but with Bitcoin you will evidently go in the opposite direction

Cryptocurrencies definitely have the potential to become the currency of the future, however the governments won't be happy to let that happen as there is no way they can control/monitor the usage of BTC. They won't, in any way be able to tax it too.

Definitely, if BTC was made a kind of replacement for regular currencies from any country, it may reduce the amount of security hacks, but only if the user is careful enough.

However, one negative I see to this things is that if a country has BTC as its regular currency, then if, due to the volatility of BTC, the market value of BTC takes a huge dip, the country may even get bankrupted, so there is no chance of BTC overtaking the regular currencies, until and unless there is stability of the market price.

For small merchants and small jobs crypto currencies are best solutions, this process of adoption is slow only in the beginning, while pioneers do not break the ice, then everything will be accelerated. Online casinos and gambling sites were first now you can find thousands of web destinations who are ready to implement Bitcoin or other tokens as their payment methods. Next is real life usage. Speed of transactions and security of this systems will be crucial..This is just the beginning, and it is very far from taking over. Fiat will stay much longer with us.

At some point in time, be it Bitcoin or some other coins or some other better blockchain, I have full faith that something will come along that is going to be used by almost everyone.

People will look at someone using dollars and say to them, "what are those" or "why are you using those". That is where we are headed! Everyone will have smart phones and better tech, it stands to reason we will have better "money"that tech creates.

It remains to be seen. Now people are attracted to constant growth rates, but this is because a lot of people are holding bitcoin, with the goal of getting rich. Also, a lot of speculators invested their money in bitcoin. If circumstances change then the price may start to fall again, it will trigger a panic, but a much larger scale.

Nope. I don't think that anytime in the future governments would ban any cryptocurrency for being a crypto currency. However, governments are free to take action against any group is they are misusing the concept for money laundering or other illegal activities. On the other hand, cryptocurrencies won't emerge as a threat to the normal fiat currencies because there will be the users who will always use fiat currencies for one or more reasons.

never cripto curencies can take place off regular curencies
i am sure all country will rejected that

This is not the major issue with cryptocurrencies from the view-point of a government

A cryptocurrency overtaking fiat is unlikely to happen (at least, not in the near future), but if Bitcoin (or some other cryptocurrency) is able to compete on par with some fiat money, lack of control over transactions will be irrelevant and ultimately inconsequential. The major problem (for the government obviously) will consist in people abandoning the local currency just like Zimbabweans started to abandon the Zimbabwean dollar in favor of the American dollar when the former stopped being money. And no government will be able to stop this switch. They simply can't throw half of their population into jail hiring the other half as jailers

If we the bitcoin is price digital currency is always in top from the time past two years to now. So take bitcoin as a asset to you and hold it how you do to gold and US dollar not be worth and compare with the cheap altcoin as well.

I dont think so. As long as it's not yet legalized still the country's present currency will still be the one recognized, used and supported by the government

Bitcoin definitely has the potential to overtake digital/electronic currencies. Bitcoin is cheaper, faster and more reliable than many forms of electronic payment & exchange. Old and potentially obsolete technologies like automated clearing houses and wire transfers are typically inferior to bitcoin in many ways. These deficiencies translate to bitcoin fulfilling an essential need in certain industries which have not evolved much over the last few decades.

Even if bitcoin transfer costs rise to $20 per transaction that will still be cheaper than many wire transfer services which charge twice that amount.

yes crypto can (and likely will relatively soon) overtake fiat because:
- it can (and often does) go up;
- uncensorable and private, in your possession.

To try to ban crypto would be ineffective and counterproductive, but they can try with market manipulations and other dirty tricks like they have been doing with gold/silver or the bigblocker plants in btc to destroy the price expectations and confidence, because they still have money printers and the state apparatus.

No I don't really think it could  overtake the regular currencies,
As long as the government wouldn't legalize it.

At maybe 70 Billions $ the monetary base of BTC is already higher than the monetary base of 1/3 or more of countries in the world. So in this sense BTC already overtook them.
Even if they ban it, the informal economy accounts about 30% of the whole world economy and keeps growing. When there is demand from the public the law does not apply, especially on the internet.

Yes, i think crypto currencies have the potential to overtake fiat and regular currencies, and especially Bitcoin nowadays is having such potential, and that's obvious. But it will need a bit more time, because till now there is many marketplaces not supporting crypto currencies as payment methods.

The fact that any government and or bank would be involved with a crypto currency is the exact defintion of undermining the entire point of a crypto currency.

We want things to be decentralized, and away from all of the governments and banks. By getting them working with code developers and all that it would create new coins people would be confused about, many average people would be duped into the crypto world, when in reality whatever those coins the banks/governments make are just as crap as fiat and central banking.

this is not easy, because introducing bitcoin en masse to all citizens is not easy, many government programs that citizens do not know so can not be effective. Cryptocurrency is difficult to officially use en masse and overtake regular currency.

That’s true. Basically I don’t consider the primary function of the bitcoins to be used as currency. What I believe is that they should be treated as investments and this s how maximum people look at bitcoins. Bitcoins volatile natures make them more suitable for investments rather than currency.

definitely,as predicted it's value will increase to$5000 this montha ,and will increase in more years . It can be a good investment even by just holdung. Our wallet alone can act as a bank and we can monetor how it progress.

Yes , as we can see now bitcoin is at $4000 and still growing up and to be expected at this rate until it becomes $10000. In our country bitcoin surpasses our regular currency making it ideal to work online and earn bitcoin than to apply for a company at a minimum wage.

Nah, have you seen how BIG WU infiltrated into the blockchain? if you noticed now there is sat per WU that means we're paying him some fees for every transaction as well :D I don't care if that stands for Weight Units that is just a distraction from their main goal.
The entire world's economy revolves around fiat, replacing it will take a very long time, maybe more than 50 years but the potential is there for real, people just need to realize it on their own terms.

How long ago did you make a Bitcoin payment yourself?

People are complaining that they have to wait hours before they get a single confirmation on the blockchain. I don't think it goes quite well with your claim of a "cheaper, faster and more reliable" way of transferring value across the world. Indeed, you can add more fees, and your transaction will likely get confirmed faster, but please don't say that Bitcoin is a reliable way payment since this is in no way guaranteed (let's remain real here). Right now it turned into an outright shitty way of payment. A few days ago I sent a few litecoins from my personal wallet with the fee set to the lowest possible amount. The transaction got confirmed faster that I switched from the wallet back to the browser to see this very transaction

bitcoin is being more popular than the regular currency and it will be more profitable as the time passing it is increasing the worth of the bitcoin. Today it is not very hard to overtake the regular currency for the bitcoin because the term of the bitcoin usage and the acceptance is very high. The crypto currency is growing with high p-potential and to overtake the regular currency a small effort and support is required by all the levels now so it is possible now.

Let hope that these circumstances don’t change. And holding bitcoin in my sight is not a good activity. And holding it I think will never let any crypto to take over other monetary system ever. Because they don’t use them and keep them as a useless material. In this way less bitcoin keep into the use of anyone and other people are still unaware of this thing.

The circumstances he listed above are inevitable and bound to happen one day but we just don't know when. If we don't develop a different perception and expect anything as we hold or spend bitcoins onevrwy we may be awakened to what we never expected.

That is bad if that happen. That means everyone now will rely on technology now since cryptocurrencies are needed device in able to use them. And i think it's going to happen since most of them are decentralized which is against the government. Government will not allow that because everyone will evade their taxes. Bitcoin surpasses the price of regular currencies. But it doesn't mean it will take over regular currencies.

Cash or regular currency still the best since it's way more convenient to use than cryptocurrencies. Like i said cryptocurrencies uses device or technology in able to use it. While cash can be use to buy anything with ease and don't use technology.

I see no reason for crypto currencies to take over the fiat currency. How could that happen when the price is volatile for bitcoin which is major currency. Moreover I will you tackle the fact that bitcoin is limited coins and not more emission is possible as set by Satoshi sir.

Banks and governments will never fear of it, they never go in loss because they can print as much money as they want if its crisis or something else like bitcoin is taking over. They can but it in no time. So for sure that's not gonna happen.

I think it will get banned because no government will want to get disturbed by external currency or third party currency. They will never want their traditional currency to be dissolved just because of bitcoin or other coins due to it's high rates. There is difference in them and bitcoin might get troubles, a lot of trouble when it will come as currency to trade in the real life. The first thing is, it's decentralised and price of which would be fluctuating as always. This will lead o chaos when we will buy or sell stuff for it, as the rates wouldn't be fixed we may need to pay more or less all the time.

as of now i think bitcoin are not threat to the local currency and the proof is also the other country is accepting bitcoin to help there in the economy, and i think nothing worry about bieng banned bitcoin use in the world of crypto because bitcoin can change to the local currency to for the daily needs.

Yes but it will take some time.. currently crypto having lot of issues to sort out..
hoping for a digital world soon

Cryptocurrencies do have the potential to overtake fiat, but there is going to be tough resistance by governments and the Bitcoin is not likely to be accepted by the public very soon. First of all, fiat is a highly stable and “good” option when compared to the volatile and unruly cryptocurrency of Bitcoin. Bitcoin’s price is extremely volatile when compared to fiat. It also brings with it massive transaction fees. These both make Bitcoin a highly unfavourable option when compared to fiat. Moreover, since barely anyone knows anything about Bitcoin, mainstream adoption is going to be severed once again. And there most certainly is a possibility of cryptocurrencies being banned in the future. In fact, you don’t have to look to the future. Just take your map of the world and look to Ecuador. They have banned Bitcoin and implemented another cryptocurrency. Another “national” cryptocurrency. It goes by the name: Sistema de Dinero Electrónico. (electron money system) However, this system does not have the qualities of a decentralised platform like Bitcoin. Rather it is solely meant to support Ecuador’s dollar-based monetary system, not replace it. Therefore, is not a cryptocurrency in its literal sense. For more information about this Ecuadorian “cryptocurrency” just visit this site: https://www.cnbc.com/2015/02/06/ecuador-becomes-the-first-country-to-roll-out-its-own-digital-durrency.html

It will give you a basic understanding of the new digital currency.

A currency is always backed up by something, be it the economy of the country that issues it or the trust of the people that it has value. Now if a government were to adopt cryptocurrencies and forfeit fiat, it is paramount to a guy selling his house to some shady guy in a dark alley whom you've known nothing about - the country is basically doomed.

Well even if the cryptocurrency is controlled by the government it cannot make it stable as their Fiat currency as they are not the only ones who can influence the price, demand, and supply. Other people can control cryptocurrencies people such as big players can greatly influence the price. Also with this power it can be abused by the rich people making there Bitcoin have a higher purchasing power is on their will and power.

Goverments like control everything i dont think they will allow some criptocurrency be uses like regular currencie, the only way some one that know about bitcoin be president and implement the cryptocurrency  like regular currency.

It will definitely take some time because of these scaling issues but hopefully one day we will all wake up to find bitcoins it cryptocurrencies for that matter are being used more than fiat currencies and it's going to be the digital world like you put it.

It seems that I can't see this happening right now but someday I think it could happen where a cryptocurrencies will take over the regular currency but it needs readiness from all aspects and from all parties of government, society and equipment needed.  :)

Crptocurrency can surely become more accepted for transactions than fiat or credit card, but no matter what happens people would still prefer to carry out physical cash transactions.

Yes! People are going to use both currencies side by side. Both currencies have their own perks and majority wants to enjoy them at a time. For international transactions, digital currencies will be used frequently whereas fiat s going to be used in face to face transactions. Let the world enjoy both.

It's actually true because right now even if we have a lot of payment methods from credit cards to cryptocurrency, fiat currency is still the king of all payment methods or at least every one of them will end up having a fiat currency value. It is the physical evidence of someone who paid you this kind or amount of money no change in face value whatsoever. I guess the most realistic goal for a cryptocurrency especially Bitcoin is to be accepted in all countries as one of the payment options in there.

Litecoin and other alts are blazing fast - and it's more likely that they will get adopted in day-to-day stuff than bitcoin.

None will replace ordinary fiat currencies though - people are attached to their home currencies, they've dealt with them all their lives and it has the virtue of familiarity.

it possible in future for businessmen probably

It is likely gonna change soon

As the proverb goes, necessity is the mother of invention. People which are living paycheck-to-paycheck will likely stick to their local currencies (since they don't have plenty of choice anyway), but those who have some savings will look for ways to diversify their wealth (and earn some buck in the process). In this manner, they may get attracted to crypto once the knowledge about cryptocurrencies spreads. And when they get used to these currencies (even if for the sake of saving first), it won't take long till they come to understand that instant and cheap (transaction wise) cryptocoins may have an advantage before fiat, after all

For now only American and Chinese governments are opposed to the crypto currency while on the other side Russia is very supportive of crypto currency, not all the counter government against crypto currency and yes, some of them there are worried about crypto currency will beat the fiat currency.

I dont understand your intentions, investing means it's support instead of weakening the crypto currency.

Yes, I think we will soon know which government will block the crypto currency, you know who.

Cryptocurrency are decebtralised and have nothing to do with the government but the national currencies are centralised. They totally depend on the government of the individual country. If cryptocurrency try to overtake national currency in future then perhaps, cryptocurrency may be banned but it will hardly happen. Cryptocurrency and national currency has many differences. They can't interchange between themselves. They both will stay on there place without disturbing the future of cryptos.

I don't think crypto can takeover regular currencies from around the world and even it can the government of each countries will not gonna let that happen. Crypto is too volatile unlike regular currencies that are stable that is one of the reason why it can't and crypto came from the blockchain which i think alot of people who don't even have knowledge about the technology will trust it. They will not gonna invest into something they did'nt know where it camefrom and another one is regular currency is controlled which means it is centralized unlike crypto which is decentralized that when there is a problem who's gonna fix it.

Yes even if the Btcs are not under the legal currency list of any country yet but all we know is that governmental systems could take the control in their hands at any time .we have a lot many examples of such events the recent of them being china banning the ICO at once but it was temporary of course. China has its own criteria for usage and ban of the virtual assets so as to secure their own national currency. All we can say is that due to the involvement of the law system, Btcs can never take over the physical currency that is supported by the government.

I think some weak currencies will disappear like for example the vietnam money or maybe some rich country will make their own cryptocurrency and replace their national fiat.

When potential is talked about, yes cryptocurrency has a huge potential to take the position the regular currency holds and senf regular currency to the back seat. But this is just the potential aspect, but in practicality, for this to happen, allot of time, awareness, knowledge and education is required to be vested upon the masses. There is a very large number, or actually majority of people who do not know about crypto currency at all. Familiarising them with this will take allpt of time. Also winning governments trust is always there in the hurdles. May be someday in future cryptocurrencies might find its place on a higher level.

For now I think bitcoin its not yet overtake the currency. But we believe that bitcoin can level the value of money. Because some us can use it. If the government  let to use the bitcoin. Maybe the potential of cryptocurrencies can go higher.

Politics are made acording to the times we live in, and since we are in the era of speed, technology and resorses they will have no option but to accept cryptoicurrency as legal coin.

People hates inflaction, cryptos are the perfect solution

This could be an option for the future because we all know that we will kill the cash and everything would be online in the future so there is a big chance that we skip the cash and go to cryptocurrency.

Well, my personal point of view on this is yes of course, there is no doubt about it. The key advantages of bitcoin is its really wide potential in competing and even taking over the capacities of fiat currency.

Yes because of our adaptation in the technology there is a big possibility that the cryptocurrency in the future would become useful in different countries and many people are benefited for the profit that cryptocurrency can provide but there are policy that the government should be order before implementing this in order to protect the users.

it is impossible. because the regular currency is the legal currency for use transactions while crypto not all countries can accept it anyway ordinary currency is easier to be used instantly by everyone in the market. while crypto not everyone can use it because of the limitations of technology and their knowledge about this crypto.

With the number of users increasing rapidly, then the biggest threat to the traditional financial system is cryptocurrency, I'm sure it will be difficult to stop cryptocurrency because everyone supports it.

Many find crypto much efficient especially fir international transaction and in fast transaction other than with bank helps or regular fiats like in using in huge amount transactions ,btc or those crypto than uses specifically to ease transactions were indeed helpful.

I think it's not that easy, crypto currency is a lot of users today, because it's so potential, and nobody deny it, in terms of overtaking its value and usage, it can happen. but each country has its own history, and that is the symbol of its currency. so in my opinion fiat currency will not disappear, unless every country allows and creates its own crypto currency.

I think banning the cryptocurrency is the only way of the banks and government to override it,
But if they think making a counterfeit cryptocurrency is not an effective one because all will not choose this one for a reason of taking taxes from people rather the first one which is free from the controller or government.

I don't think so, because why governments would agree to this. It's not in their interest so far. They control national currencies and aren't interested in replacing them with cryptocurrencies.

That's also what I was thinking.

Bitcoin has no chance against the major currencies as governments will never let it happen.\

There is no way that the government will give up on the ability to be able to control the inflation, and to regulate it's currency.
The whole market goes up at the moment because regulators hasn't touched bitcoin yet, but once they will, it's going to be an huge mess for bitcoin and it's hard to know how low the total market cap could reach.

It is normal to see government trying hard to attack everything about cryptocurrencies, but you know why it is so hard, most governments have a democratic system and that is why it is so hard to ban bitcoin and the only thing they can ever do is to find ways to frustrate the usage of crypto like what IRS is doing presently in the states.

However, on a normal ground and with the great features that cryptocurrencies have over fiat, there is a huge possibility that fiat can be overtaken. Wait and see what happens when people start realizing the usefulness rather than just being an asset.

to date, the utility of the crypto currency in the real life of a person is quite strong, But this applies only to individual projects and individual coins. Speaking of Bitcoin, Bitcoin is starting to grow again today, but its real cost is greatly inflated.

I hope it may not. If Bitcoin has going to overcome our existing currencies i think our countries should adopt and adjust to it. Instead of making it illegal or ban it, why not make some technologies that will support its growth.

Governments have already accepted the presence of cryptocurrencies. Some governments are taking initiatives to somehow regulate it.

It is a huge threat and I am sure the banks already know that and the craziest part is that at this stage and the rate at which cryptocurrency has boomed, it is totally unstoppable and that is why they do not have any choice than to find how the government can benefit and not get left out at the end of the day.

Regular currencies though will get wiped out eventually when things go digital, even though it will take just some few decades before we end up seeing that.

Governments have something else with these coins they always want to control the whole currency level in their country. And as far as bitcoin or any other altcoins are concerned, these governments don’t allow this to be implemented in their country because then they can’t control the whole thing. This can be a threat to them if they allow cryptocurrencies working in their countries.

In fact, what brought me into the cryptocurrency space was the fact that I could make international transactions easily without the limitations placed by my country and since then I have never had any issue with this and this is one reason I cannot stop being a real believer of bitcoin no matter what.

Cryptocurrencies really have the potential to overtake fiat and as people keep seeing the huge importance of crypto over fiat, they will gradually start moving into crypto.

Bitcoin and other cryptocurrencies will remain to be the currency of the internet if governments will continue its restrictions and will not allow any virtual currency to be use publicly. So it is not possible for the virtual currencies to overtake any regular currencies. If the banks and other financial institutions support the use of cryptocurrencies, the use of these virtual currencies will grow and the chance to overtake the fiat currency is high.

It seems that indeed the crypto currency so has a strong potential because of its advantages, benefits, and superiority, yeah it could be.. there's certainly be the government of a country that will considering it, also maybe worrying the citizens being more focused on crypto currency entirely till the country's economic system would be disturbed.
But if to thinking about the strong of crypto currency, I think in the future still will not replaced the regular currency, it will remain an alternative currency. And anyway, the government will not be easy to decide about it, because the crypto currency is a digital currency in a cyberspace that can be transacted with online only and can't be transacted with offline like as regular currency.

Yes I do believe this, and not just a potential, but a high possibility. With technology being advanced everyday, there is yearning for improvement and innovations, thus all the old systems that we have such as fiat. This is why I don't see any reasons or hindrances as to why the cryptocurrencies cannot overtake the regular currencies. It is bound to happen in the future anyways.

Since most of us are still very dependent on bringing and paying with physical cash, then I think it will be a while before we can fully adapt yo digital payments. Some countries also don't have the means or technology to go full digital at this time either.

Bitcoin doesn’t have the potential to become a real currency, cause it lacks the qualities of conventional currencies. It is only used online, with no physical form. It is decentralized; conventional/regular currencies are not decentralized, and if it happens that Bitcoin will become a currency, it will only be used by a particular country and not the whole world.

I just don't think so, I'm quite positive about it. The thing is the regular currency is too old for us and I think that if we keep on using it, then there will be no growth from what's happening now. I really like the fact that the cryptocurrency is changing the world for the better.

The answer is clear and short- "No" and the reason behind it is that government will never allow cryptos to overtake their legal currency.Why would they ever allow because they dont want to loose their control over fiat and make uaage of digital currencies.Crypto will be used side by side but not in place of fiat which remains forever.The government can make its own blockchain based currency(they might make or might not) which can be used but we cant predict future.

Yes they will and planning to operate a large scale regulation about something like this. It is a matter of saving and earning yet the goverment want to hold and regulate the abnormal size of people who uses it and gain and incredible amount of money. If such counterparts were to be implemented huge value will surely be compromised.

It cannot really happen as of today since not all countries accept bitcoin so there is no tendency yet that it gonna happen, not this time maybe if it will happen after more than 5 decades when many cryptocurrencies were finally adapt by countries.

Limitation is actually going to be a problem for now, but looking at the future, when some old folks have been wiped out, we are definitely going to end up seeing the possibility of some overtaking which I would not be surprised anyway as people keep seeing the main reasons why they should be holding bitcoin in the long run due to the level at which it is going to be extremely useful.

I think yes cryptocurrencies have potential but our government will not legitamate this because there is no taxes included in this cryptocurrunecy. I think our worst scenario, if the government ban the cryptocurrencies. It is hard to overtake regular currencies because this our past and the present currency, all of this has a big process to be one of currency. Let us be happy to our cryptocurrency and not to worried that.

You have a point there. The current state of cryptocurrency now like using alongside fiat is enough, you see the government doesn't ban nor legalized it but we make money from it. Plus who the hell would replace their fiat with a doubtful currency I mean they have a doubt in cyprtos.

I do not think that bitcoin can be considered a substitute for conventional currencies, since everyone uses it as an investment asset. I think the state equates him to such an asset as gold.   

it could be done as time goes by , the problem are how much time it will cost? a lot of time of course , just look at internet where 20 years ago it is something that most people confused about , we think will never have reach internet era.

and then we have recognized internet as a primary needs in the last 5 years. the potential are there but not for soon.

A small possibility for the government to replace physical money with crypto money. And even if that happens then the government will apply tax laws in every transaction.

this all will happen only when the crypto currency is realized. Then any government will have the right to tax any transaction on the crypto currency. Namaz today is still far away. Although as an example of Belarus, where the government passed a law banning the taxation of activities with crypto currency.

If we only talk about the potential of crypto currencies, then I must say that all the crypto currencies which are there are very much capable of replacing the regular currencies. The only problem which they have to face in this regard is the declaration of all the crypto currencies as legal currency. If that happens, then this world will really feel a change and that things will be very much different back then.

Bitcoin has the possibility to overtake some of the weakest currencies, it is not going to replace the dollar or any other big currency like that but it could replace the currency in countries with a lot of economic problems that are not very significant for the world economy.

It will only happen if it's a centralized cryptocurrency but if it's not then there's no small possibility or chance that it will replace regular currencies. And it doesn't need to be there just for cryptocurrencies to imposed tax, the government can do it already and put tax to any crypto related transaction or if someone earned from it while he/she is in the vicinity of the country's jurisdiction.

The threats are actually becoming imminent. We even now have bankers; owners, managers and workers buying into Cryptocurrency already at this time. Some are of the notion that they just want to study the markets and see how it operates and how real it is. While undergoing this studies, cash is being earned and kept. Within them; banks, I want to believe that they have come to the realization that the Cryptocurrency world will be a threat to then going by its sustenance on the blockchain too.

why everyone thinks maybe because there is hope that in his heart hope bitcoin replace fiat currency ,so that we are free from government taxes that have enriched the high officials or superiors can also be called ministers ,you are right that it will happen if centralized cryptocurrency And you're also right that the government will be able to enter the tax through trading transactions or receive and send ,all of it must have taxes because the government does not want to lose

I know you're courage to be freed from the government taxation but you don't live in a country and just grow up while working without taxes. That's the only possibility that I can think of if the government wants to replace fiat with new type of currency through cryptocurrencies and they'll call it as the new modern digital currency. I don't see this happening on bitcoin as it's decentralized.

Of course there is, and it is happening now. Just research some things about countries who banned crypto currency.
As for the battle of survival in the crypto world I think some of the hottest officials and businesses are recognizing the potential of crypto and of the block chain will continue to be developed, they have no choice to adopt in the technology of blockchain because they can't just disregard a high potential technology just because they it is a threat to them. Just accept the fact that technology is growing through time.

Crypto currency is built or have existed based on a decentralised system and i guess it will stay that way forever. With that alone, i don't think the government would allow a decentraosed system to run their monetary system. Hence, crytocurrencies overtaking regular currencies would be impossible unless the government is willing to embrace the decentralized system. As with the banning, their are countries that have already banned crypto currency.

Countries can try but they will not succeed in banning cryptocurrency anymore than they succeed in banning piracy. That is the point of decentralization. Everyone who has a computer can be part of the system without government knowing. Tomorrow I can setup PC for mine and government cannot do anything.

I think cryptocurrencies has a high potential to overtake regular currencies someday. again someday not now. not this year, even bitcoin is so popular nowadays its not enough popular to convinced all people to have a bitcoin currency cause we all know that many people are afraid of changes. they are prepared in tangible currency so they can use it all along in public or anywhere.

I think that the use of crypto currency can be only at a certain moment and in a certain place. I think that the crypto currency will not find support in most people for daily use. You just imagine how a cup of coffee will cost if you pay for it with Bitcoin, given the cost and length of the transaction.

Yes you are right here. Bitcoins are taken mostly as the source of investment and a source that is giving you much money. So it will be so hard for the people to take it as a normal currency that is just making the whole world of crypto, a simple world. Then there will be no charm of bitcoins and they will be treated just simply as cash. And I think this is just wasting a golden chance.

I think that only a certain group of people will be able to use crypto currency as a means of payment, and then under certain conditions and for certain goods or services. Most of humanity will reject the crypto currency, because of its complexity of use, and also because of the inaccessibility for many.

It could be possibility because this procedure has already been applied in many country's and why to go far, we have china as big example of that. So yes bitcoin or crypto currency could be banned if regulations think that crypto's are threat to the fait currency. Banks may or may not include the crypto currency depending on the trustworthiness of the crypto currencies. They stake the money obtained from the people and hence they will never come to know that how to operate the cryptos and it better to submit the money directly to the bank. This way people may not support the fact that crypto can be threat to the banks. They will never let it happen.

Regular currency is regulated and there inso way crypto will overtake them because its obvious that government will produce the enough money and they will never  disturb the economy of the nation for the virtual currency like bitcoin or others.

I also think that way. Although the crypto currency is potentially, its value and its users are more than paper money, but it will only be in crypto and will continue that way.

I think government will not accept any digital cryptocurrency to become our real money. Bitcoin and other cryptocurrencies are decentralized while our real money is not. Aside from that digital cryptocurrencies values are just depending with our real money so it is impossible to implement to make digital currencies as our real money.

This is very true. Currently, cryptocurrency is showing a lot more features than conventional currencies, which is evidenced by the strong growth of the crypto market in the last few years and especially in 2017. I firmly believe that if governments do not have appropriate management policies, cash may be lost.

Yes I agree that cryptocurrency is on the rise and will continuously rise in the coming months and days, but it will not overtake the regular currencies, as the country will not be in favor and won't agree with that. We are just thankful that most of countries embraced cryptocurrency.

It can overtake in term's of value. But about the legality of cryptocurrency will behind also. Currency like paper money are legally used as a medium of exchange. But talking about bitcoin it is also use to make money with a high exchange value, so therefore bitcoin is more over than paper money or it is really overtaking to real money.

Yes i do think the cryptocurrencies can overtake the regular currencies and in fact they already did it.

in terms of its value sure yes on what i see now , but on having the use as fiat money ill say no crypto for me is just for the internet world and it will never be like fiat money because of government that supporting and issuing the fiat since we dont have government here to support crypto so it will  never be happen to overtake the use of currency.

Just only last year 2017 has made some drastically increased their value because growth of the community attracted to it. So from here onwards compared with other currency crypto will play major role in terms of currency.

When we compare the price ranging of bitcoins and traditional currencies the price of bitcoins is so higher than any asset or commodity which means the bitcoins have overtaken the price of local currency and it will be  sustaining the first position in the financial market due to increased number of bitcoin user's and more demand of bitcoins. Bitcoins and all other crypto currencies are backed by the local currency so traditional currency is also required to run the crypto currency as there is no physical existence of crypto currencies, may be in the long run when all accept the internet technology and digitization, then there will not be any need for the local currency as all the transactions will be carried out with bitcoins and other crypto currency.

Indeed cryptocurrencies cannot overcome regular currencies because that is what we are usually using in our daily lives. Cryptocurrencies has a lot of advantages than regular currency and it has more capability to be successful because of different innovations being developed every year.

No any country needs his own currency and economy.Look Europe and euro,rich north poor south
And lot of tensions becouse of that,cash will also stay,how many places in Europe i know where i can pay only with cash.And still best wallet is your own pocket

It depends on how banks and governments understand cryptocurrencies. In some countries cryptocurrencies are banned, some legalize and some don't legalize but does not prohibit their citizens from investing or taking part into such digital currencies. For me it is possible for them to implement a ban against crypto but I know that they also think of the possible outcome caused by their actions. Crypto's helps people to have a financial freedom and I don't think if governments are against in that situation but if they will then they're greed. As an investment yes it is a threat because people are switching their money from fiat to crypto. People are holding huge amount of crypto's compared to holding fiat money because they felt safe with their investments unlike the investments in fiat that taxes is always present.

Maybe yes if they can regulate it. It will take a long process to do that cosidering that every country has their own currencies

if youre talking cryptocurrencies like bitcoin and altcoin, it has but it's small. But if youre talking an regular currencies will become cryptocurrencies it's has a potential since blockchain is a new and promised system for financial

It will because the regular currencies need to be converted to another one like dollar and exchangers deduct so much but unlike btc which you can use anywhere once mass adoption is fully implemented.

I think even the price of cryptocurrency reach the all time high value it cannot overtake fiat even though its value is so high than other currency and gold.  Cause we have a different currencies around the globe so its impossible to implement that crypto will replace fiat. Yes it can overtake the valued but the position maybe not. And for sure crpto will remain a very helpful transparent currencies in the future.

if I think the world crypto will not affect the bank or the government because bitcoin is not affected from the politics of a country but some governments or banks remain afraid of the existence of bitcoin because it can interfere with investors who initially invest in banks are now beginning to switch to bitcoin.

Very huge possibilities that it could, but it might just take a little bit of time before we see that happening. However, looking at the features that cryptocurrency have over regular currencies, it is huge and people are gradually beginning to see that. Talking about transaction speed without borders being a limitation, and some crazy bank policies affecting the way you spend.

The Chinese, Moroccan, Brazilian, Indonesian government are against bitcoin and crypto currency at large because they see it as a threat to their national currency. Therefore, this shows that crypto currency does have the ability to overtake the regular currency.

I believe it does. If the majority of people have adopted crypto and use it on their daily life, the government won't have any other option but to embrace it to gain people's trust. The technology behind crypto could be very useful in this digital age we are heading.

Rather than baning cryptocurrency in the name of them being a threat to normal currency is, most likely the government and authirities would create some centrally owned and regulated digital currency of respective countries to tackle and give neck to neck competition to existing cryptocurrency.
Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.

of course, if you pay attention to the practice in Japan, as well as statistics on the promotion of crypto currency in this pleasure, then I think that many users would like to see this in their country. Respect and respect for Japan. But I think that the crypto currency will not be legalized in all countries and there will be a lot of problems with this.

 
I think as soon as the government comes up with how to take control of crypto, they will immediately do so. The government is not yet up to bitcoin, but I think when most of the population speak openly about crypto, then the government will think about what to do.

Yes, crypto currency have the maximum potential to overtake regular currency and this is the reason why some government,regulator and banks are against crypto currency in other to make people believe crypto currency is gamble. 

The potential for cryptocurrencies to replace regular currencies is there but it is never going to happen, governments are never going to allow it and if at some point it seems as if that is going to happen then prepare for cryptocurrencies to become illegal, only when all the financial system collapse we could see something like that happening and even at that point regular currencies will keep on existing since in many parts of the world you still need to use cash for most of your transactions.

Banking institutions will really not allow crypto's to take over what they have established for many centuries. That's why you will hear governments all over the world trying to put a halt on the booming crypto industries. It will drastically impact the economics of every government but in a positive manner. But I doubt they have thought about it, what they contemplate is that crypto will take over and make banks and regular fiat obsolete.

If the government support crypto currencies it will definitely overtake normal currencies used by people in the world but it do not possible without the support of government and banks i hope soon it will be possible .

I believe so, yes they have the potential to do so. That's the beauty of this, anything can happen
and yet we get to play a part of it. It's hard to speculate on certain currencies since it takes some time
and a series of impedements to . The blockchain technology will put everything to the test since it's highly
innovating, we'll just hope and see.

The main idea that backs the statement of " Cryptocurrencies will never make fiat disappear" is that the governments want control over the money, and they can't do it with crypto, unless they control the crypto and then the coin is no longer decentralized.

Fiat is being issued by governments, and fiat helps to bring protection, people needs the protection that fiat brings.
At the crypto world, we can see a lot of people who compares banks and fiat to the evilest thing that happened for the financial industry, and I can't understand why.
Some people need fiat, they need their currency to be centralized, and they need it to be backed by a government.

Cryptocurrencies have very big potential, but I don't think they would take over regular currencies. This isn't in the interest of banks and governments. It's very doubtful that they would allow this in the near future.

 I don't think cryptocurrencies are about to overtake fiat currencies. But that even isn't their purpose.
They are too unstable with too much different limitations and the financial system based on them would be too chaotic. But still they have and will have in the future very importnt rule and with time more and more people will accept them.

I think this will be possible later in the future.Since it is time of digitization,cryptocurrencies are getting popular and more and more people have now started using cryptocurrencies like bitcoin,ethereum etc.Transactions through cryptocurrencies is much more easier than regular  currencies.More and more people are investing in cryptocurrencies as the profit margin is very large.

then that today you will be the state begins to develop its national crypto currency, this is indeed so. That's just necessary to take into account that if the duration of the transaction and their cost will be such as today has Bitcoin, then popularity can not be among people. Not everyone can afford this.

Russia is a big country, they deserve to develop their own blockchain technology. this is just a matter of competition between super power states.
This business may be successful but it is difficult to compete with Bitcoin and the large community of all countries in the World.

Yes, I am very positive that cryptocurrency can overtake regular currency but it will take time for it to happen and there will be ups and down first before it will be implemented. A lot of people will have hard time to adjust specially those who are not familiar with computers.

Adjusting to bitcoin will not become hard for the people because almost all the people are now used to computers since the computers and other technology are already here since a lot of few years ago. If bitcoin overtake the regular currencies then there will be no problem since people can easily adjust since bitcoin is easy to use.

Yes, but it will be a smooth transition in the coming years. A lot of cryptos will die and others will maintain to become even stronger in its most usable environment.
Regulations will follow sooner or later because every state needs taxes as income.

On my own perception on that situation, I would say yes there is a huge chance that the regular currencies will overtake by the the crypto currencies. As of this very moment in some point its not the same usage of the two kinds of currencies due to the fact that the crypto currencies are so huge gap of ups and downs which doesn't have a consistent value unlike on normal currencies is stable. Thus, the two kinds of currencies have different usage and capabilities which means they are important in the society as well as in the crypto community.

Yes there is a huge possibility that cryptocurrencies can overtake regular currency because as far as i know crypto keep on spreading and majority of the people who knew about cryptos are so happy using and investing in it. What i don't know is if the government will allow it because as we all know crypto users like almost everyone of us got our privacy with our saving and government cannot collect taxes from us.

soon we will get more investors from stocks market cause ICOs are changing the market to a stocks market.
after geting more investors crypto will overtake regular ones

I think it is too early to say about that, i think that it will surely take more that decade because still most of the people do not have any idea about bitcoin and i think that even if some people know about it still they are not taking any risk to invest a lot of money in crypto currency. therefore we cannot think that it will replace fiat currency so soon.

I think it takes a long way and years to happen. For now, people are more on fiat currency since it is easy and comfortable to manage by on hand cause it doesn't need a connection from internet.

If you mean as a legal tender form of currencies, i do not think cryptocurrencies will overtake regular currencies.

But if you mean as a total market cap, for cryptocurrencies to overtake fiat currencies, it is only a matter of time.

Even at this point, BTC marketcap is already higher than some State backed currencies.

At the end of the day, do we really need btc or any crypto currencies to take over the role of fiat currencies?

I see both currencies serving different purposes and should survive side by side. Fiat currencies (maybe in the form of crypto)

must exist for a country to manage the economy. Without a national currency, a government will not be able to manage the

economy.

I think there could be some cryptocurrencies that will be accepted as legal tender and be used for payments, but largely I think most cryptocurrencies will be viewed as Assets. Except Japan of course as it already sees BTC as legal tender.

If cryptocurrencies are viewed as storage of value and as an asset like Gold is right now, then it will not compete with fiat currencies as

a legal tender currency. Thereby allow crypto to survive as govt will feel less threat.

The event's speed in this world isn't constant. Each new year things happen faster than in the previous year. I believe Crypto-Currency will get enough power to overcome regular currencies faster than we imagine. The Crypto-Currencies popularity is increasing too fast and it causes a chain effect over people's minds that it's hard to predict its real potential, what we know is that it's big.

And I think people are investing hard in Crypto-Currency, some rich guys see the niche as a profit opportunity and invest hard on developers and projects. Fiat doesn't need to be replaced, it can continue existing and being used, the fact is that its hegemony will finish.

I am sure crypto currencies started ruling the currency market and this has caused the countries ban bitcoin in the respected counrtries. Crypto has bit shaken the gorvenments in recent days. Few countries announced that bitcoiin is illegal and many started adapting it knowing the benefits behind. Many have trusted in crypto and invested in it assuring a good trun over. 

I think the banks themselves will need to equip themselves with more information on Cryptocurrency and the blockchain itself if they will be countering Cryptocurrency itself. This means banks will adopt and adapt to blockchain first before wanting to use their findings against them. I will think that along the line, they will get bought over when convinced to make full use of the blockchain themselves.

even more of humanity is not ready for any experiment based on digital currencies. Just imagine how old people and children will use Bitcoin, in order to buy milk and bread. I honestly can not imagine this, because it requires certain knowledge and capabilities. But both of them have no children.

Goverments can restrict people

The potential exists, but for the moment is just potential. I believe that current solutions have plenty of technical credibility and enough processing power, but they are not commercially viable as they are.

It can replace the regular currency of the cryptocurrency because bitcoin is so convenient to use rather than the regular currency. We as a supporter of bitcoin we can push through the importance of bitcoin to use. I agree that bitcoin as neutral asset like gold is a primary and secondary currency that depend on the people using it or not. Just be slowly but surely in using bitcoin because other people like the government did not know properly the bitcoin.

First of all, suppose to know that regular currency and cryptocurrency are two things that are very unique and have their own utility. Why do people always compare and argue about cryptocurrency who will overthrow the regular currency? I just want to ask one thing only, this is an absolute question that can overcome all arguments and debate about all this. What is the fate of those living in the village and the traditional environment? Should not they use cash and ordinary currency? Even smartphones they do not have. Especially if told to use the technology and learn the cryptocurrency market? That would be too complicated and inconvenient for them.

maybe we could see bitcoin as a neutral asset like gold as gold is not used as a new currency too and I think bitcoin function until now is like gold. but crypto still has potential to overtake regular currencies only if the paper money is gone and the government decides to use digital currency as the new payment system and I am sure that if the government follow the technology, then they will use technology for their own benefit to create something that they could control.

I think so..since Fiats depreciate in value and cryptos appreciates day by day..
And more business are ready to accept crypto currency and more ppl tent to learn and hold crypto day by day..
With the increasing demand  and new projects by block chain
World will be more used to crypto currency worth the value appreciates..

Governments is concerned about decentralization and banks is concerned about peer to peer, due to these concepts of crypto currency they are opposing it. Banks cannot directly ban and it is convincing the governments giving false information about crypto and trying to take a step to ban from government. If the government is really think of the welfare of people, then it should accept crypto currency.

No, not at this time. Its very far from reality that this will might happen in the future. Maybe cryptocurrencies are so popular and some of them can be in paying in some goods and services but most of the people prefer fiat than e-currency. One factor to consider is thay not all the people in the world can gain acces in the net and nit familiar with this alts. But this possibility might happen but we need to wait it for very long time.

i agree they will not use bitcoin to replace to their fiat currencies because all fiat will lose all their profit if it will happen.


they only be digital assets not like fiat currencies has hard copy.

No one can ever have right to copy bitcoin because now almost all crypto currencies are at demand they have a lot of users and it is complete setup it is not only a simple currency but it is investment and asset at the same time. I am bitcoin users since one year but I have never seen any currency like bitcoin because it is the only one and will remain the only one forever, now bitcoin has replaced regular currency and in future I know bitcoin will be legal so everyone will say god bye to regular fiat currency.

Not yet, since bitcoin cannot be used to buy anything in my country but that is going to change as time passes, it will not be a complete substitute for most people but for people in the forum that have held bitcoin or a long time there is the possibility that bitcoin in the future will become the only currency they use and they will be able to avoid fiat in all its forms, that day is very far away but chances is that will become a reality in the next decades.

As of now it cannot be applied yet because the government don't recognize it yet, but as soon as the grown up technology be scatterd to every country that can be applied by bitcoin then there is possibility that cryptocurrency can potentialy takeover the current regular currency in the near future.

That could be possible to happen in the near future as days goes by we are entering the digital age that means even the regular currencies that we use will be digital as well. So time will come that crypto currencies will replace the regular currencies.

i think so,because as of these days more and more people has using bitcoin as thier transact money for thier business and more country now has accept bitcoin as one of thier currency.

I really think and not thinking only but i really observe and found and that is what is happening now that most of cryptocurrencies now is highly overtaking our regular or normal currencies.

Digital currencies doesn't mean it will adopt the model or concept of crypto currencies, since the blockchain is designed to be decentralised, government will hardly regulating their own coin mainly due to the system they use, instead, they will make a new ones that suits their regulation pretty well. The age of fiat or traditional money is obviously will over, the digital currencies will replace it. But what the digital currencies might be, no one knows.
Just see the result when the time comes, though, cryptocurrencies still facing so many problem some of them are scalability and security (end-user).

Cryptocurrencies can be a threat to fiat currencies if and only if the drawback of not being able use cryptocurrencies during offline can be addressed. Because we know, no internet connection, no cryptos.

We are entering into the digital world but that doesn’t mean bitcoins will be changing the whole world’s currency type. Bitcoins are amazingly growing but still it takes a long and long time to spread all over the world. It will be a time when every person on this planet have bitcoins with them as they have physical currency now. So we have to wait for that time, only then it could be possible.

In terms of security issue traditional currency will be ahead from cryptocurrencies. It was so cliché that Bitcoin is not regulated by the government, for these reason they have no responsibility about returning the possible losses of your money in the web.
While when we talk about transaction issues, virtual currency will beat traditional money for it can process a lot of transactions in every single second for it runs through the internet. The downside part in Cryptos is that we have no papers, especially in investing that serves as the proof to regain possible losses unlike in banks.
In conclusion, cryptocurrency and traditional money have a close match in different aspects.

Yes, it is possible to replace cash with cryptocurrency, but it will take a long period of time to happen. If all of the countries around the world follow other first countries who ban bitcoin then it is also possible to freeze cryptocurrencies. Right now some countries regulate bitcoin because lots of people investing on it and not at the banks, if people forget banks then it affects the economy of the country that's why some countries are intimidated by cryptocurrencies.

Well i don't think so that cryptocurrencies can replace regular currencies because crypto don't work offline. It only works when there are internet connection or in online but regular currency works even offline. Aside of that crypto are decentralized and the government would not allow the decentralized system to take over their centralized system, the one government can control and also the central bank of each country will not allow this to happen because they have a big contribution through paying tax, unlike the cryto they dont have any taxes and they even dont know to whom they will collect the tax of it.

yes cryptocurrencies have the capacity and the potentials to replace regular currencies ,but it all boils down to the ability of crypto stake holders to lobby the financial world ,getting backing from goldman sach and having a foot print in wall street.making pack with major world governments and few emerging economies.everything is possible ,it has to be about negotiations ,dialogues and some compromise from crpto stake holders for the big picture to stand.

All types of government are established for one common reason; which is to control its people to put things in order. Decentralized cryptocurrency to replace fiat basically defeats the said purpose. I think they'll do everything in their power to have control over it, the least, regulating it perhaps or worse, completely banning it, just like in some countries.

As of now Bitcoin and all the cryptocurrencies is considered as a commodity like gold, this would soon be accepted as a legal tender in future. Just for your information that Dubai have given licence to one of the worlds famous trading shops for bitcoin exchange. This is one of the positive note for all crypto fans and in future each and every country would adapt crypto step by step for sure.

Bitcoin is grabbing fame at a faster rate than it used to in the past and that day is not far away when the whole world will get aware of this amazing digital coin. It does not take much time to hear any sort of news when you are living in a global village where technology is advancing every moment. Actually it has become the hot topic of present and will remain so for coming few years. The digital market has just begun to grow. Bitcoin is the future of money and one day the world will be living in a cashless society.

I don't figure cryptographic forms of money can supplant standard monetary forms basically on the grounds that crypto don't work disconnected while customary cash does. Besides, crypto are decentralized and the legislature would not enable the decentralized framework to assume control over their incorporated framework, the one government can control.

I don't figure cryptographic forms of money can supplant standard monetary forms basically on the grounds that crypto don't work disconnected while customary cash does. Besides, crypto are decentralized and the legislature would not enable the decentralized framework to assume control over their incorporated framework, the one government can control.

Cryptocurrency will not overtake and change the regular currency that we use. Regular currency is what we use in our daily lives that is fiat money and fiat money is hard to exchange into something else because you need to know whether it will be profitable in the transaction you will do.

I don't think so. Cryptocurrencies may already prove us how great its potential but I don't think that it is enough to surpassed any other regular currencies. There will always be something that cryptocurrency will never overtake to these regular currencies. Also, even how great it is, people will tend to choose what are they familiar to. Furthermore, the government will strive to control cryptocurrency if it is already overtaking the regular currencies. That will be difficult and might cause a lot of change.

Uuhm… I don’t think that cryptocurrencies has the potential to overtake regular currencies, cause they lack the qualities of a true good currency. And I don’t even think that cryptocurrencies should be compared to conventional currencies, cause they are not the same. Cryptocurrencies are just assets, and we shouldn’t be comparing assets to real currencies.  Maybe we should just be comparing them to other assets and stocks like gold, silver and the rest of them in the market. Regular currencies like dollar should be compared with fellow currencies.

The will of the government is not everything and it is not absolute, if the people in the country want to use bitcoin as a currency they will do so, the government can only try to regulate it after that fact, that is the way everything works, governments do not develop anything they are always behind the curve when it comes to legislation, right now not many laws are being created about this because people are not using bitcoin  like that, that is why most of the regulation has to do with exchanges and trading.

As a realtalk cryptocurrency would never replace fiat currency as long as government regulating it they would never implement decentralized transaction in their law.Government are wise thinker of recognizing digital currency they want to have an authority on it but its hard for them to regulate it because it was decentralized.

Theres a big possibility that this all new cryptocurriencies  going inside in the market change  will surpass or overtake those major cryptocurriencies in terms of value and popularazation,but all of this is depend on the developer of  the new altcoins on how there platform project is would become demand coins of all bitcoiner  in the world of  cryptocurrency bussiness.

It's very unlikely, at least in the short period.
Firstly, there is no general acceptance: there is a lot of talking about cryptocurrencies, but they are still used by a limited number of pieoneers.
Second, when banks and governments will realize that there is the risk to lose their power, they will start a real war against crypto.
We'll see.

Normally when you use local currency in your country, you have only one. So the same thing will happen with other cryptocurrencies such as Bitcoin.There are a LOT of cryptocurrencies out there. Some are traded and used as currencies, but none have the potential to overtake regular currencies even though Bitcoin is now mostly like the standard cryptocurrency.Regular currencies has its own protocols that give rise to a different monetary policy which appoint a bunch of clever people and tell them to stabilize inflation using interest rates and bond-buying. Considering a money supply rule that does not respond to shifts in money demand generates large fluctuations in prices. And since society tends not to tolerate outright declines in wages, these fluctuations often carry over into unemployment.

Issues with regards on the world's financial stability is always under the shadow of doubt. Yet crypto currencies has enormous possibility to thrive in the international financial affairs if the super power countries which holds the control and have power to dictate the flow of the vast financial system will allow this kind of effective monetary system then it will be so.

I think most of the giant and localized financial institutions such as international banks, central banks and other financial conglomerates are working together and do essential measures to foster stability and not to hurt but to enjoy the benefit of being strong mutually with its counterparts one of which is the crypto currency.  

I think the cryptocurrencies have excellent chances to become real money in about 15 years from now

For me crypto currencies are not really here to replace fiats, they are options that we can use, they can work along side of any fiat currency, they can co-exist. I think it is best for the people to have options on what they really want to use. Besides I don't think any government will allow anything to replace their fiats.

You mean physical money?  Then what is special with bitcoin if it becomes a currency  a tangible one.  Bitcoin is a digital currency and its potential is very high.  It can do greater than our fiat money.  Maybe some country will use it as alternative to their currency because it has the potential but no so soon I guess.

I don't think that bitcoin will overtake fiat currencies because the government will not allow bitcoin to take place of their fiat currencies because they cannot control the bitcoin because nobody controls it unlike their fiat currencies that they can control

I think yes, it is like asking a question about digital and manual, do people think digital system will replace manual system? eventually yes, but not that soon, until everybody is interconnected and rely on digital system, which mean they have to use the crypto system of exchange.

People are not going to accept bitcoin as massively as that unless they have no option, people are never going to accept the truth unless they are hit in the face by it, people are never going to accept the current system cannot last and it is a scam until they see it with their own eyes and see the economy in ruins, so until that point we cannot expect that crypto replaces fiat.

maybe here you are thinking, if one day crypto money can replace the position of paper money?
the answer is impossible, because there will be no state government willing to change their old payment system with a new one. let alone whit bitcoin.

Shortly, it is hard to be implemented. Majority of us want this to be practically happening but this would be ending as a dream. No one can replace fiat money with bitcoins. Reason is obvious and you already told it that people are not accepting new system.

They are calling it scam and many others are doing propagandas about bitcoins. It may happen after three to four decades but not in near future.

The fact is that the new government of the state has already stated its attitude regarding the crypto currency. at least in their words there are phrases about the national threat to their security.

Yes, i do think they can because there was already an example about it, it's Bitcoin, the most valuable currency in this world.

I think that this is not as distant perspective as is commonly believed. Traditional financial institutions in deep crisis and crypto can become their chance to upgrade.

Anything is possible in the world but certainly for some new initiatives in the world you have to control the media while the thing is in the initial phase which in the case of bitcoin is not in the sight. The media and the banking sector, both are giving the negative news about the uncertain future of the bitcoin and that is the reason most of the people are not ready to take bitcoin as a currency yet, but hopefully this will be cleared with the time and in some time (may be a bit later) bitcoin will take over the currency system.

I'll be honest - as much as I'm an advocate of cryptocurrencies, I don't see them overtaking regular currencies such as fiat. The trouble is that they have too many issues right now and the population is not technologically literate enough. I do see a world where cryptocurrencies are as popular as fiat and run alongside them, but only for specific purposes.

I really think that cryptocurrencies will be banned in many countries especially in those countries which are not very strong economically since they are the ones that are going to be affected first by bitcoin but since they do not have as much strength the ban they impose is not going to be followed as strictly by people as they know they can get away with it.

Not really. First thing that matters a lot in everything is the population of people that are making a use of it. If lots of people are using it, then there would be higher rate of success. Bitcoin is just an asset anyway, so you shouldn’t expect it to be able to compete with real currencies. No country will allow Bitcoin to take over their currencies or spoil it.

Such thing happening will lead to that country banning Bitcoin for good. So Bitcoin doesn’t have the potential to overtake regular currencies. Even from the name you mentioned, you can already tell that– Regular” which means it is being used more often.

Mass adoption is the biggest hurdle. Majority use fiat and that's what they know best it is going to be hard to convince people with no interest in crypto currencies that it is the future. Over time more will see the benefits of crypto currencies and I think we are more likely to see banks and governments with their own block chain currencies.

There is no impossible in our new technology. Specially to the very progressive countries. They have a 100% potential to take over the regular currency to crypto currency world. Surely in the future crypto currency will be used more than local currency.

In my opinion the government would not allow a decentralized system to run the monetary system.

Yes. A lot of people nowadays are adopting to the use of bitcoins and other altcoins. Give another 10 years for cryptocurrency and it will be so widespread that many will be having it. I agree that Bitcoin is an asset since it has a very high value - like gold. What I observe right now is that cryptocurrencies are in competition to the stock market despite its high volatility.


Agreed. The government hates things they cannot control. The government is a big factor in dictating the economic system and once they lose control on the monetary system, prices might skyrocket or break the market. That's why they wanted to regulate the exchanges of crypto to fiat. Just imagine people using crypto, a decentralized currency, how can they properly collect taxes? Taxes are necessary to run a country. It is what pays the government servants like the military, etc. Who's going to fund the government research? If the government will rely on private investors, the whales will make the government a puppet - an equally horrifying situation.

So for the own good of the country, I think governments are doing their best to maintain the current monetary system. The question is, how can they compete to bitcoin, which is currently gaining roots in the global economy? It would be hard, because unlike the fiat system, bitcoin presents a visionary contribution to a utopian order - decentralized, independent, and free.

Judging by the latest data of analysts, the banking system very carefully approaches the current issue of the crypto currency. They are already much more effective and successfully test the technology blokchain. And they will not yield to the crypto currency.

I don't think that cryptocurrencies will overtake regular currencies because the government cannot control the crypto and they cannot use tax to get more revenue from the people. but I think the government will create some coin and develop the coin so it can integrate with the blockchain and I heard that they are still learning about blockchain technology.

Leave the government. They will never let it happen but see the investments in the bitcoins and altcoins and the overall interest of people and the total marketcap.
If this trend goes on , all the fiat will go into alts and fiat will eventually be finished if all people willing to use digital currency and they buy bitcoins/altcoins with fiat.

Yes i think there is, because our world is fast changing from generation to generation and the technology is escalating and advancing at a short period of time and our world become an internet of all things and everything run digitally and crypto currency will be the center of all monetary transaction.

No i am not thinking that :-\. Because many reasons are present which justify my think. No government never want any circumstance which can makes bad effect on their country real currency. Crypto currency user never pay tax and this thing affect an country economy. So this is one of the reasons behind my think. Another reason is Many Businesses, politicians using Bitcoin money transaction facility for transfer their black money and these transaction are can't be track by cyber unit of police. And crypto currency value are volatile in nature and this thing affect investor most. So these are some reason behind my think.  :)

It could. As of now, many bitcoin enthusiast would agree to me when I say bitcoin could revolutionize the conventional currency we are using today. The technology behind cryptocurrencies holds a very high potential and a promising future altogether. Therefore making it suitable for changing the nature of fiat money we use today.

It's a no to me, I think cryptocurrencies are big and very revolutionary so to speak. But replacing regular
currencies is a very different ball game. Surely we can safely say that it's massively popular and promising,
with everything that it has going for now, it's like an unstoppable force. I'm a big supporter of cryptocurrency
there is just so much potential in it, but the idea of replacing regular currencies are a bit over the top. Our
so called regular currencies are the basis of our economies and nations. It has served us well, inspired and
motivated a lot of people to financially thrive, invest and establish business ventures throughout the years.

In my own opinion, crypto currencies cannot overtake or replace the regular currency. Even though crypto currencies have better features and capabilities compare to regular currency, it cannot replace the regular currency because not all people can have an access in crypto currencies especially the poor people.

I think it is highly unlikely that if cryptocurrencies will overtake regular currencies. However there’s a good chance for them to co-exist with regular currencies, but most likely with a significant lesser volume of exchange than regular currencies.

It doesn't need to take as long if the economy crashes first, but while many have been predicting that something like that is going to happen the truth is the system can go for a lot longer than anyone of us can predict, so even if I think we're going to get a huge amount of adoption in the future that is still not going to be able to allow bitcoin to replace fiat in the short term.

in my opinion, how each coin has its own purpose, and one does not need to equate yo-yo with real currency. The fact is that if all the coins are used for their intended purpose, then there will not be a single sphere of human life.

When you fantasize about "counting your money," you might just have to look at your digital account in the future, because there may be no more money in the future.

Based on the characteristics of digital currency, the direct benefit of digital currency to the central bank is not only to save money issue, circulation and settlement cost, but also enhance the central bank's ability to control funds.

Digital currency has the advantages of lower issuance cost, lower transaction cost, traceability and higher cost of counterfeiting. Therefore, the future of digital currency is a trend.

It is not possible because governments can also make their own cryptocurrency like what the government of Venezuela done. Bitcoin can be fully adopted into the mainstreams and can be use as one of the legal tenders but overtaking regular or national currency is still a remote possibilty. Furthermore, government will not going to allow any virtual currency that is beyond their control.

There is always a potential that more people would use cryptocurrency and overtake regular currencies or what we have known as fiat because people who have known it are increasing day by day. However, there is still the problem of having a limit when it comes to accessibility because there are still so many places in the world that have no access to internet in which they can't access cryptocurrencies and render it worthless so they would still use fiat as it has physical form and widely accepted. They would just co-exist and these cryptocurrencies would become more of an asset than a currency.

Yes there is always a chance for cryptocurrency to get banned in every country, even now there are already countries who are banning bitcoins in their area and maybe those governments are just afraid of their people to get rich quickly and no one will work on the corporate world.

Cryptocurrencies and regular currency is different in many ways but maybe it takes a long time if this will happen but in my opinion crypto currency can't surpassed paper money because paper money has already established and people are already familiar with this.

Hi,

I think that most banks and governments are currently trying to undermine bitcoin: through mass media, giving it a bad image; through official announcements, saying that people should be protected from themselves; through regulations making the use/possession of bitcoin illegal.

This is just logical. Because I think those organizations are smart enough and seize the potential of bitcoin. Bitcoin could be their end, as through bitcoin we can get rid of any control authority.

So, yes, I think that ban is a real threat. It won't be called this way but it will be. :/

What I think is best is that crypto currencies will be working along side the fiat currencies. I never believed that cryptos even Bitcoin can ever replaced fiat since digital currency is for a lot of people but not everyone plus the fact that the governments of each nation will not allow it to happen ever. They will do everything on its power to ensure that they will protect their own currency and will not be replaced by something that is decentralized in nature.

Cryptocurrencies  will never be the best choice for Government as it is not the best tool to coordinate its economic policies(fiscal and monetary policies) and as such will always look for ways to restrict its use.Government will not able to bann its use fully because it's people-driven neither will crypto fully replace fiats.Crypto use in the future will greatly increase but will not fully replace fiats.they will co-exist

Cryptocurrency will certainly be a dominant player in future economies as more persons are beginning to see the amazing potentials that are hidden in cryptocurrencies.I agree with you on this

certainly the bank will think of ways to compete with blockchain technology, but it takes quite a long time because it takes a process to be able to compete. now bitcoin technology is in the look by some financial companies. they want to know how bitcoin performance through the blockchain system. it's possible that nowadays many countries want to ban bitcoin, but they think about bitcoin sophistication. several reasons are expressed in the country to ban it, one of them is the ease of laundering funds from taxes in bitcoin. I also as a bitcoin lover can only support it and hope there is a good way to overcome this problem.

I doubt they have such potential. Bitcoin and regular currencies will exist in parallel. National currencies are too important for the existing economies to disappear. Banks and other financial institutions, and governments may (an probably will) use the blockchain technology, however.

Yes, they do possess lots of features and advantages over traditional fiat currencies. They can be transacted with within seconds, across any distance, and any time, there is no time limit, something that we see a lot in cases of NetBanking. Even some economists are nowadays predicting that bitcoin might just replace some major world currencies by 2023, like the US Dollar and Euro. Also anonymity, security of BTC is much more than traditional fiat currencies, and I think it might be one of the reasons why bitcoins might just get ahead of traditional currencies within the forseeable future.

However to get there, a lot of developing countries have to get their World Wide Web up and running soon and poverty and illiteracy needs to be remedied.

Opportunities do exist, but to do so must require permission from the highest government, like the entire President in the world and perhaps the UN also contributes to it.
If one currency is replaced then the epek will affect other currencies. Doing so is tantamount to fighting the world.
It took perfect preparation to make it happen.

And i think the chances to succeed are 30%.

Actually to make it simple to understand between the two currencies. Crypto currencies are only currencies that exists and live in the cyberworld which it couldn't touch nor feel that kind of currency while fiats money or those currency intended in the particular country will in exist on that particular nations. In that case I don't think if it can overtake since the twi have different usage and purpose

i surely do,that cryptocurrencies will overtake local currencies,maybe not in this times but will be in future,with the cryptocurrency prices,and the growing market cap,we are confident about the overtaking..though fiats will never gone,its just crypto will be more popular than fiats when that time comes

Yeah but  bitcoin has longer  way to reach that  point because it almost 1%of the world are using bitcoin but it's good news because bitcoin has a wider opportunity because of such number but for  sure banking system in the would make  a move to undermine bitcoin. But for sure will survived because peoples will  support bitcoin coin.

Yes it is possible that cryptocurrencies will overtake regular currencies. And it is already happening now because as we can see the value of bitcoin and ethereum it has a very high rate than other regular currencies.

On the question whether Crypto currency would replace other (regular) currency?  In my opinion,Yes it would probably overtake  the Regular currency only on the Market world. But replacing the FIAT CURRENCY of its country still a long way to go... Crypto is still on the INFANCY stage on the market, yes its gaining popularity but if you look into the News, there is a lot to be consider, issues on Regulation,Banned,Scammers. so i would say, ITS A LONG WAY TO GO BEFORE GOVERNMENT OF ITS COUNTRY ADAPT CRYTO into there normal Trading/Local transaction....

That’s how it is but if we can touch or feel something that does not mean it is more valuable than those that can’t be touched or felt. We can’t touch air and neither can we feel our brain, but those two are very vital resources. Crypto currencies have the ability to take over paper money someday due to the evolving technology. Crypto currencies might change our traditional way of money and new generations would absolutely prefer digital things.

Central bankers focus more on the rise
of private crypto-currencies, warning that they are speculative gambles. In times of stress, depositors
flee wobbly banks for safer homes. Even in normal conditions, Banks would face higher funding costs if
they had to compete with the central bank for deposits. Digital versions of currencies used internationally (eg, the dollar) could worsen these complications, if foreigners
were free to use them.

Banks and governments now are working together to regulate cryptocurrencies. Instead of adapting and accepting the, banks and governments are making ways to ban them. Your prediction is right that they will ban crypto because they are threat to the regular currencies.

Well since you are talking about the potential we need to say that the potential is there but is completely different to think that bitcoin is going to realize that potential not because there is something wrong with bitcoin but it is really difficult to think that governments are going to let a decentralized currency to take over the world of finances so easily.

The fact that governments can create their own coins is irrelevant they are never going to create something like bitcoin if they create a cryptocurrency it is going to be full of backdoors they can use the monitor their citizens and at the end when the economy of the world crashes those coins will crash as well and only bitcoin will remain.

There is nothing to be uncertain about bitcoin because for user bitcoin potential is very high and it can make you earn high profit without any risk. Well regular currency is important to exist but not more than digital currency, as our system is now turning to the digital system and in all markets and all shopping malls digital currency is acceptable more than fiat and cash so it is gonna take the command of all kinds of need in life, we are going to see a digital system which will make our life easier and will save our time for working well in our office as you will not have to go out to pay your bills and to buy goods in shopping malls everything can be done even If you will be at home or at your working place.

Never i think.. Each country soon will launch their  new regulations in order to protect their main currency. i bet they will !
Fiat money and gold still be the main priority

I do not figure science types of cash will supersede commonplace financial forms primarily on the grounds that crypto don't work disconnected whereas customary money will. Besides, crypto ar decentralised and therefore the legislative assembly wouldn't alter the decentralised framework to assume management over their incorporated framework, the one government will management.

I think cryptocurrency has the potential to replace the conventional currency. The potential is enormous because humans expect a practicality in the transaction and it exists in cryptocurrency. On the other hand, the government will not allow it to happen because it will harm the state and can not monitor the circulation of crypto so that will disrupt the state finances.

I think its all about competence, either both usually doing great . We all know that bitcoin is decentralized, I don't think, cryptocurrencies overtake the regular currencies because its all about perceptions of the people and the government laws. Some people are not using new hi tech technologies because they don't know how to use it through internet transactions payments. But I think it will be a great priviledges to implement bitcoin studies on the community so that they will able to know how to use in such transactions.

Bitcoin has already done that, right? For example, the market cap of Bitcoin is greater than the total currency supply (only banknotes and coins) of major fiat currencies such as the Russian Ruble and Indian Rupee. In the future, it may even overtake the top fiat currencies such as the United States Dollar and the Great Britain Pound.

Yes it has but it is not possible to completely remove the fiat system,because we need internet to use bitcoin and other crypto currencies but it is not possible to have internet access in every corner and at the emergeny situation crypto currency may not be usable,so crypto and fiat will combined together to make a health economy.

Bitcoin will not replace or overtake regular currencies, regular currencies/paper money is on of governments tools to control their economy. All governments will prioritize their national currency, bitcoin will always becomes an alternative currency that will be very usefull for international transactions. Although there are many benefits that bitcoin giving to us right now but even it is too small to influence economy of small countries.

 however this kind of situation government accept the crypto currency  behind the point. The cryptocurrencies pose a credible threat of supplanting central-bank-issued money. Nevertheless, it's worth thinking through some of the implications if something like Bitcoin which high more than 45 per cent market share. And invest to people to overtake our government money.

I think so. Almost all governments across the country prohibit Bitcoin from being present in the country. One factor must be for fear that digital currencies can take over in the regular currency. But I believe in the future the digital currency will grow very rapidly.

For me, cryptocurrencies have the potential to overtake the regular currencies regarding value, but regarding acceptance and legality, cryptocurrencies don’t have a chance. We all know that the regular currency is control by the government and central banks so that it can prevent the plagiarism, also real money is much acceptable because its legal and most of the people use it to their daily lives.  :)

I also think so. Crypto-currencies can't replace the money, they are not designed for this.

I do not think so. The government control the currency in their country. If cryptocurrency will be used, they will not be able to control it or each country might be in chaos as to who will control it. But as to cryptocurrencies,of course it is very potential. But only, it may create some negative effects to the world.

yes its possible that crypto currency can overtake  the regular currencies. Because it has more secured and easy to transtract with no hassel free where ever you are. and its grow and grow everyday but mostly down >.<

Well, first of all government and the national banking system are working on how to build a new a amendments to cater the digital currency exchange now a days. This will not be the threat to a normal currency in the first place but it gives another source of income of the people in a country where the government can benefited through people exchanging money at there approved site.

if as a threat to the normal currency I feel it will not be made as a reason, their most frequent reason and that they will continue to say is Bitcoin will be used to fund terrorists, Bitcoin will be used for corruption and Bitcoin is an scam investment....

Bitcoin and other cryptocurrency can disrupt bussiness bank and thats why banks always hate cryptomarket. I think,banning on cryptocurrency doesnt have big effect because crypto actually decentralized and regulation just make investor more confident

I think it can be for some countries that have already received cryptocurrency but for countries that have not received will be very difficult because of lack of understanding of the cryptocurrency itself

I agree with you men government not gonna give up that easily with there currency that they control and may the government be afaird of bitcoin that will rise cause nowadays the population that bitcoin has been multiple because this is also a digital gold currency that easy to earn.

Fiat currency has regulatory authority which will never want cryptocurrency to overtake fiat currency.
there are some reason why -
Crypto currency can be used in illegal activities like Black money etc.
Decentralize currency can never be fiat currency.

The world is developing much faster and we are seeing many unbelievable thing coming to invest before us. In this age it is also possible and is not hard that internet reach to every corner of the world and in that time then it will be possible that we use bitcoin in every corner of the world any time we want. Then at that time it will be the possibility that bitcoin become much powerful that it will be thought that it will replace fiat currency.

to change the main currency, I think it will be difficult. because I'm sure everyone thinks bitcoin is an investment asset, not a major transaction tool. although bitcoin is also a very convenient, safe and convenient transaction tool. but it can not be denied also if everyone is more interested in bitcoin investment. so in this case, bitcoin has succeeded in replacing gold as a valuable investment asset instead of replacing the major currencies.

As we push through the cashless society era, it is highly possible that fiat money would be replace by cryptocurrency because of its security and its good way of tracking transactions. Government and banks might be against it because they cannot hide under the table transactions anymore, if ever they are bad, if not maybe just because they would not benefit from it like the way tgey did in fiat money.

It is true that the crypto currencies capture market and i know that it has the potential to grow more but for this to overtake the other regular currencies like dollar YEN, British Pound are not easy because the crypto are fulfill some transaction but due to virtual status many people don't like this but all the currencies are goes side by side so all of these are important to me.

There is a big difference between having the potential to do something and actually accomplishing that something, the potential of bitcoin is great and it is almost unlimited but there are still a lot of things that need to go right in order for bitcoin to reach that goal, that is why this is something I'm not expecting as long as bitcoin still exist after many decades and it has value I am fine with that.

maybe it could happen. if all countries legalize and everyone knows how to use it then the digital currency can replace the existing currency. but it all requires a long process and requires equity of technology in all countries.

For me they play important part of peoples lives. I mean Fiat and Cryptocurrency. For me fiat for every day life that we need for our daily life like foods, clothes and etc. .For cryptocurrency is a change for wealth. Rag to riches. Actually they already overtake the currencies. The only differences for me is their use for people who understand how to use them.

People uses both currency. But majority of the people prefer to use fiat over crypto. As for me, it is not easy for cryptocurrency to overtake regular as it needs to udergo more process. And cryptocurrency is not fully accepted to all countries.

With crypto, people just consider it as a valuable asset to increase over time, what they want from it is profitable, using it as a currency is probably not possible when the number of users in this society is still very low and many people are still not interested in the crypto. In addition, we can see that the government still does not really want to support it, cryptocurrency is still too difficult to control, and it can also be hacked very easily, it can not be safer and more convenient than regular currencies

It can replace the regular currency of the cryptocurrency because bitcoin is so convenient to use rather than the regular currency. We as a supporter of bitcoin we can push through the importance of bitcoin to use.

I think it's hard for the government to accept bitcoin as currency because bitcoin has a fluctuating price and is very risky, it takes some policy to be able to change the regular currency with crypto currency and I think the government will not be able to control the bitcoin

Although they have the potential, it is improbable that they will. There's a lot going on with national currencies and replacing them entirely with cryptocurrency would need a complete overhaul of their financial system. Which will take months to years creating setbacks making it counter productive. But if one country is brave enough and completely converted successfully then the rest would follow.

I think even the price of cryptocurrency reach the all time high value it cannot overtake fiat even though its value is so high than other currency and gold. Because we have a different currencies around the globe so its impossible to implement that crypto will replace fiat.

I really do believe so too. This is what the people out there that are vigorously pushing the replacement of fiat with crypto currencies or bitcoin to be exact should realize. They must understand that there are a lot of things involved when you talk about changing a national currency with crypto currency like the usage problems which are the fees and the confirmation delays depending on the number of people using it, plus the technology of a specific country or advancement in terms of internet connection speeds and access availability. Unless the issues of cryptos gets fixed and the country adopting it has what it takes to support the currency usage, crypto replacing fiat is completely impossible.

Cryptocurrencies have doubtless the potential to overtake regular currencies, at least in countries with a less famous regular currency. But the problem is that the bitcoin system has no enforcement power and can not overtake something from governments. The people would need to overtake the government system and install bitcoin or something similiar.

Cryptocurrencies completely based on the internet but regular currency has impact both internet and offline. Regular currency occurs both way and that why that has worldwide acceptance. Cryptocurrencies is not accepted by worldwide. We know some of the country ban the Cryptocurrencies, and some are not interested in this currency so it is not possible to overtake regular currencies.

If the government allow this currency than there has possibility to overtake, but its quite impossible. The reason of they don’t find how this currency control completely, they can control buy implementing tax but its worldwide currency and there has no control by that country. So it can huge possibility to impact the country control by other. If the government take it as alternative currency its help also the same way and hopefully will be great for the users and also the country though there has some negative impact also.

jes they do,

the reason lies in the broken overregulated bankster system, that is run by regional gays.

They certainly have the potential, though I really doubt it will be bitcoin that manages to achieve this. In its current iteration there are far too many flaws to allow it to compete with regular currencies, its volatility, the scaling issues and the transaction times to mention just a few. I think if it forks a few times, and the lightning network test is successful then it will be a real contender, right now, it's not ready.

I think it could but the government would surely decline it.
But maybe it would trigger the banks to start creating it"s own digital currency or some online payment,
And maybe in the future we wouldn't need cash because of it.

Crypto currencies is also a electric or digital currency like credit cards, to keep your money you need to deposit it to the banks so that you where not hassle to bring your money. Just like crypto currency you could bring your money by you only digital phone.

To overtake the regular currency it could wait for long year before it happen

Yes, it is possible for cryptocurrencies to overtake fiat - but that would take a veeeeeery long process and time as there are many considerations to be viewed by each governments primarily starting with people and their technological abilities and capacities as cryptocurrencies obvioulsy heavily rely on them.

It could but for now, no.
(If it has not been banned, of course.)

With time, humans have been changing their ways of doing things due to the changing needs. If gold can get replaced with paper money or fiat totally, then it is also a possibility that digital currencies take over paper money totally.

It is just a matter of time. Digital currencies are a way better than paper money. What if all the countries introduce their own national crypto coin, then there would be absolutely zero need of paper money. Digital coins are the future.

Hmmm…. I don’t really see Bitcoin as a threat to normal currencies, although I do hate the fact that some people (especially the rich dudes) can use it as a means of money laundering which is very bad. Bitcoin and every other cryptocurrencies can’t overtake conventional currencies, cause they don’t even have the potential or what it takes, and they are neither getting banned. They will stay, but as stocks meant for investment.

If you only talk about the potential and the capabilities of the crypto currencies, then I must say that they are very much capable of taking over the regular currencies and that they can change the economic system of the world as well. The only problem is this is not that much easy thing to do as it seems to be. It will no doubt take lot of efforts and that the positive response of the government will make the difference.

Decentralization allows cryptocurrencies to give individuals more control over the digital currency and security. It has weakened the influence of intermediaries such as the global banking system, stockbrokers and clearing houses, reducing the geopolitical requirements and restrictions set by each country.

The use of cryptocurrencies has made it easier to buy goods and services abroad. No need to go to the foreign exchange counter.

This is first comment about which I can say it is sensible one. Really, there are so many comments here and you can read them. They say, yes bitcoins would be the supreme currency and will be using all over the world and all that boosting stuff. I think we must live in a reality where people are even unaware of what all these coins are so how can they use these bitcoins?

Bitcoin can never replace fiat currency; probably the governments will never let that happen. They will never want to lose their control over the financial system of the country. Further, Bitcoin can never have that mass adoption which fiat currency has. Also, the government will never ban them because there are some many investors who still have faith in Bitcoin. Since Bitcoin is decentralized the users do not need the approval of any authority before using it.

Cryptocurrencies can't replace regular currencies simply because crypto don't work offline where regular currency does. But Government always wins, Cryptocurrencies will be either banned or will be fully controlled by the government

Cryptocurrency only has so little chances of replacing physical money or the currency we have today. First let's be specific, bitcoin, the number one cryptocurrency. Bitcoin is becoming powerful but not powerful enough to replace fiat. That is because, bitcoin is created to patch up the holes created by our century old currency. It is like an upgrade to the system where we can make transactions better.

Yeah I think we should begin to realize that we live in a rule where there is a superpower that governs our lives, that is government. they can do anything with a regulation and rules. when the government wants to replace the local currency with cryptocurrency, of course it can be done. but the government will not do such stupid things?

That is a big relief for travelers. It had been great issue for those who love travelling for exchanging currency with the respective country they are willing to go to. Since bitcoin or the complete crypto market is decentralized and no one owns it, so people use it globally. This quality of its make it really feasible for using internationally. World in the need of a currency that could be accepted by everyone.

The best thing to do by the government is to study carefully crypto currency.  They must its pros and cons and its benefit to the society. Crypt currency has a potential to overtake the regular currency maybe in the future. But for now maybe it is still cannot sustain all types of transactions involving money.

It is not. These two things are very different. the regular currency will remain and remain strong despite the many cryptos that appear. Indeed many are concerned but it is not a big problem for regular currency.

I do not think that encryption money can replace fiat money, because the encryption money is dispersed, so that the government will lose their power, so the government will not let this happen. So now some governments have come up with ways to regulate cryptocurrencies.

I think yes there is the possibility of cryptocurrency taking over the regular currency around the World. Maybe it is not now and now it is not yet seen. But I am sure in the future this will happen. I believe in the future we will all use all sophisticated technology.

Yes there is a possibility since our technology continue to evolve. Just take for example communication.. from telegram or letters to SMS or text messaging, from telephone line to mobile and from voices to face communication. Primitive currencies talk about exchanges of goods, then came golf or silver currencies, then the gold become reserve for paper currencies and it will continue to evolve. The time is the only question here. 

Some banks and governments like china are actually doing that already. Restrictions, bans, fuds, anything that can take away people's interest in crypto. And for now it seems to be working but for me it's it's inevitable that crypto will become a major player to challenge these regular currencies.

Yes it is so possible that crypto currencies can overtake the regular currencies. Actually it was already increases and had already overtake the other currencies some currencies has a higher value but bitcoin already beat the other currencies prices.

The world right now is always in the online status. It is never offline. The more developed we are, the more technology we have and therefore, in the future, it will be much easier for us to access the cryptocurrency network. Cryptocurrencies can never be controlled by the government even if they win the battle

I don’t see bitcoin as a threat to normal currency. There is no possible way that it will replace normal currency. Bitcoin can be an alternative way to pay though since it is more secure. I also don’t think that the government will implement countermeasures to undermine this process. I think they would rather earn more money rather than ban a possible source of income.

There is always a posibility that cryptocurrencies can overtake regular currencies. But in my own opinion. I think regular currencies are more convenient to use by all people than cryptocurrencies.

Well, first, that depends on what you mean and how you expect it to happen. Do you mean by the whole countries in the world making use of Bitcoin? That’s impossible and can’t be. You don’t expect the world to be making use of Bitcoin while they are supposed to be making use of different currencies. And if you mean by every country using different types of cryptocurrencies? It’s still also impossible because they all don’t have the potential it takes to be a real currency. They are lacking lots of features that makes up a true currency, which is the conventional currencies we’re using now.

Government can change the status of cryptocurrency in the world. They can impose regulation in crypto and they can ban cryptocurrency in the world. Government holds the citizen, everything in this world is being manipulated by the government.
We can't deny the fact that government impose taxes and banned crypto not because they care about the future of the citizen and economy but they want to eliminate the decentralization.

I think there is a possibility that crypto will replace the fiat currency. It may be that the government makes its own crypto coins, or does a tax for crypto money for state income and crypto will be legalized.

Well yeah there is high possibility to make bitcoin the legal currency, as right now almost everyone is taking the advantage of bitcoin for its legality,  some governments have already accepted the availability of bitcoin, some countries are taking initiative to somehow regulating it, for me bitcoin is much netter to use than any other investment as price of bitcoin is very high and it is increasing day by day, we soon will see bitcoin as regular currency which will have highest price and huge use in the whole world.

Until strong regulation and taxation policy by governments, It is not possible for cryptocurrencies to become mainstream payment system, Bitcoin is decentralized and it can not be controlled by single entity, Corrupt governments will not allow decentralized payment system, They may create their own crypto currencies.

...It is not impossible that cryptocurrencies have the potential to overtake regular currencies, because there are some other countries using it as a regular currencies, but not all countries would use it. Actually, cryptocurrencies is the best for online currency and not all goverment could able to ban of cryptocurrencies.

Everything is possible under this blue sky of ours, my friend. If barter system can be replaced by the gold coins and then those coin system can be overtaken by paper money, why digital currencies can’t become the new face of our money? With time, requirements change. Bitcoin is the future of money and crypto currencies are going to be the medium of exchange in coming days.

You are mistaken governments do not always win, they win most of the time that is correct but they can be beaten and they had been beaten in many other issues before and due to the nature of bitcoin and cryptocurrencies I have no doubt that this is another subject in which they are going to be unable to win and the people that have the means and the knowledge will be able to use cryptocurrencies with no problem.

Cryptocurrency has a very bright future when it comes to the issue of money.Change is difficult but there is a time coming where people will fully embrace cryptocurrency because it is convenient ,fast and save for people to use.With cryptocurrency,you don't need to carry money in your pocket around.Everything will be digital and the risk of having your money stolen will be reduced with secured wallets development unlike fiat money where an armed robber can easily attack and steal your money.

I believe in the future cryptocurrencies will completely replace fiat currencies!
Currently cryptocurrencies are in its formative stages with a minimal mass adoption and awareness among the general public. However, gradually with proper publicizing, better R&D , extensive use of technologies like AI, robotics, blockchainin and importantly with regulations mediated by government-backed agencies will eventually make cryptos a common thing on a daily basis. I strongly believe that there has to be some regulations made on cryptocurrencies for its own good!

It is true that bitcoin is bigger than many national currencies around the world but let's be honest the benchmark is the US dollar and until bitcoin does that then no one is going to be that impressed by bitcoin, besides it is very likely that there are going to be a lot of measures taken so that day never comes.

With the help of ICO, not only coinage scamcoins are made, but interesting startups that would not have appeared under the usual investment scheme. These projects increase the economy, and therefore collect more taxes, direct and indirect for states. Therefore, they will not banned.

Well, cryptocurrency status is very unstable so im not sure it will overtake the regular currency. As of the moment the crypto coin is a little down.  So i guess it will not out run the regular currency.

This will be possible in a well civilized country, but a country were there are still uncivilized and uneducated one this will be very impossible, and the local currency will still take the lead.

Cryptocurrency can overtake regular currency when it comes to value. But regular currencies are more accesible for all people and the only edge of crypto over regular is the price only.

There is no country in this world where hundred percent population is civilized. Take out the advanced or developed countries. You will find out beggar’s community everywhere. This is the way of world. I agree that it is not possible to use crypt coins without knowledge of internet and stuff but with the passage of time, everyone will learn using digital currencies. It is not difficult at all.

Yes as the way they are growing now I am sure soon the world will adapt to accept cryptocurrency and we will see cryptocurrencies will be used same as regular currencies.

I think that it will happen, but cryptocurrencies will strongly change the shape up to that time. We'll see.

 I think bitcoin is the first crypto currency which has the potential to over take the regular currencies near future. Bitcoins popularity is widening world wide because of its specific features and  usefulness to human being.The bitcoin legalized countries the people are using it for their domestic bill payment,local purchase from the near by shops for the daily consumable items and the international shopping from anywhere any thing at any time. Bitcoin has a very strong depth in the market and its market capital is very high which have the potential to replace such regular currencies.

in my opinion cryptocurrency will not be able to replace fiat money. fiat money and cryptocurrency two things that can run together, fiat money is used for everyday transactions. whereas cryptocurrency is more widely used to invest or store as an asset. bitcoin like valuable digital gold and has a high value and tends to increase every year.

I don't think the government would be happy to accept bitcoin as an alternative to its fiat money. If the cryptocurrency wants to replace the conventional currency, it needs the government's approval, or the government's own scrip.

I think there is the possibility of cryptocurrency being banned in the future because of the threat of "normal" currency.
Banks and governments have compactly prohibited the use of Cryptocurrency for use in their country.
Because the Government and the Bank consider Cryptocurrency has a great risk if used.
Though behind it all, they are worried about paper currency could be threatened because there is Cryptocurrency which is currently a currency that is more desirable to many people.

It is for sure that government wouldn't allow cryptocurrencies to takeover fiat currencies. They wouldn't let something they can't control rule. If cryptocurrencies outpace cash in terms of usage, traditional currencies will lose value without any means of recourse. Should cryptocurrencies take over entirely, new infrastructure would have to be developed in order to allow the world to adapt. There would inevitably be difficulties with the transition, as cash could become incompatible quite quickly, leaving some people with lost assets. Established financial institutions would likely have to scramble to change their ways.

If you only talk the potential and the capabilities of the crypto currencies, then I must say that all the crypto currencies are very much capable of over taking any of the regular currencies and they can lead the world in a better way. The only thing which comes in the way of the crypto currencies is that there are so many factors like that of the role of the government and similar things like that and if we can manage to address those things, then things will be very much different.

This is a likely scenario with time. Digital money quickly pushed paper, and crypto is the next step. The question is how quickly people's consciousness will accept this idea.

I believe that the blockchain is one of the most outstanding inventions in the history of mankind and the emergence of blockade, crypto-currency, crypto-economics, fintech and ICO has forever changed the financial market, allowing people involved in the economy to be deprived of the opportunity to use banking services.

Unwittingly people have actually been diverted into a digital-based economy. Do we realize when we save the money in the bank and that we can only a book of contents only nominal numbers of the money we deposit money without knowing where the money we save or deposited to the bank. This transition suggests that the potential crypto used for today's economy is very open where people who use banking services are not comfortable with interest rates applied by banks.

Well to some extent you are right that bitcoin is not legal and government has not command over bitcoin till now, but at some extent we cannot regrets that bitcoin has more power than cash or regular currency, people feel really free for using bitcoin  as it make them feel really free, so this is reason bitcoin is found more powerful and more easy to use, bitcoin has safer than faith or cash which attract a lot of people towards it, bitcoin use to increase for holding but money cash will remain the same as much as if you hold will not get you to the profit,. So gradually cash is vanishing because of crypto currency invention.

Maybe one day we will face it, but for now I am pursuated, that this day is very very far from today. The countries are still not ready to accept crypto as a common way of payments.

Yes it has the potential to overtake fiat because most of the people today are truly interested on investing in cryptocurrency and because of that there is a huge chance for bitcoins to grow further and become the currency nation wide.

I think that's really possible given the fact that we are just following the advancement in technology whereas nowadays most of th things are digital or are using trchnology. Digital currencies may be the future currency to be used by most of the people but I do also think that jn the future,fiat will still exist.

There's a lot of circumstances that need to be consider before government accept the bitcoin as a normal or regular currency and I think it will not be fair and will manipulate of them and that's the reason why some people use bitcoin the their own currency.

Other countries are already banned cryptocurrencies. I guess their government really found it as a threat that someday cryptocurrencies will overtake fiat money and they can't control it.

they felt like this someday.right now cryptocurrency has a technology that make it possible as payment for around world transaction.low fees and fast transcation make people want use this as main currency.

If we only talk about the potential of the crypto currencies without taking in account the power of the government and the other influential factors, then we can claim that crypto currencies can take over other regular currencies and that they can lead the world in a better way. However, this is not an easy thing to do and that this will surely take lot of time and efforts.

Well honestly,i do really think that in the future, digital currency particularly cryptocurrencies are the future currencies to be used by the majority of the people due to the advancement in teachnology whereas most of the things are using technology nowadays. So maybe,if problems with cryptos will be solved, the changes will soon happen on ehat currency will be more used.

I think in the future it is not impossible... Making cryptocurrency as a national currency of all of us is really good but beyond its goodness still it will face a lots of problem...  It takes time before cryptocurrency will replace the regular money of the world...  It is part of the changes we cant control it...  Someday it will surpass this problem today until it will recognize by everyone...

I don't believe cryptocurrency will totally be banned. I think the only that will happen will just be the regulations as we are witnessing now.

If its just about the potential to overtake, then i guess yeah especially when digitalizing transactions are becoming more and more common nowadays. And banks know that. And obviously they're doing actions to limit people's crypto access through their credit and debit cards. Even account transfers from a bank account to a crypto wallet or exchange is being disabled now by many banks

As far as many of us know that almost governments find way to eliminate bitcoin or cryptocurrency out of our reach. Because they definitely know much about bitcoin and always keep thinking that bitcoin is a bad influence to economy and especially they don’t get any benefit from each one who use bitcoin. Hence it’s not much more likely to bitcoin overtake fiat. Moreover, fiat is a basical currency not for one but also many countries in the world. In anyway, although bitcoin is really popular these days, it still keeps in its limitation, only few country now are accepting bitcoin. Therefore, it’s hard for bitcoin to overlook the fiat.

Of course they are never going to accept that willingly, it sounds impossible but they will need to be forced to accept that and while many people think that is impossible it is not, it is only going to be very difficult, the economies of the world will need to get in real trouble before that happens but if that scenario happened they will need to accept bitcoin as an alternative to fiat currency

From the current situation, the users of digital encryption money are still a small part!

However, with the development of block chain technology and extensive application, digital cryptographic currency will be used by more people!

In the future it may exceed the legal tender!

Bitcoin and other cryptocurrencies are just an investment or an asset and it is not that fiat currencies that can be act as a daily basis money because if they can then a lot of people are already using it but we can see that there is no people that started to use it because they know that it is not that wise since the transactions fees are a little bit expensive compare to fiat.

Cryptocurrencies are already banned in some countries but there are also countries wholeheartedly accept bitcoin  and altcoins like Japan and MALta and Australia too but they are subject to regulations. Stiffer regulation makes cryptocurrency move forward just like in Japan where exchanges are thinking to move its operation in a much crypto friendly regulation and environment country.

In the digital world, forgery has another name, "double payment", which is used twice for the same amount of money, so both transactions are fraudulent. Cryptocurrencies are designed to combat this "double payment" problem. In cryptocurrency algorithm, block chain technology and different consensus mechanism are embedded.

These features make the encrypted currency superior to the unit function of the notes.

Cryptocurrencies exist in networks, so they are not physical objects. There will be no physical wear. Another feature of cryptocurrency over paper money is that it outweighs it in terms of durability.

I think cryptocurrency is very difficult and seems very unsuitable to replace the regular currency, better cryptocurrency remains in use as an alternative currency only but if you want to replace the ragular currency then the total supply of the coin must be very much and have a very good developer.

Everything you mentioned is very potential. First, of course, cryptokurensi very potential to become the currency replaces the conventional currency. Secondly there is the possibility that the government will try to undermine the process, because perhaps the current cryptocuration system does not fit their way of working. Then regarding the ban of bitcoin, it's happened to some countries.

Undoubtedly, every year the role of crypto currency in the market will grow. Already, many big companies are using Blockchain technology. What prevents them from making transactions in the crypto currency? The popularity of fiat money is falling.

You are talking about the decentralized crypto currencies only. Indeed, these cannot be controlled by government and they also can’t have any record of transactions made in such coins.But if countries introduce their own crypto currency like Dubai or like Mark has introduced one recently, it won’t be wrong to say that paper money can get wiped out by digital currencies.

Cryptocurrency has the pontential of overtaking regular currency.

If it is widely accepted globally
If banks and the government agree to implement it
If the poor countries have regular light, good internet services.
If the uneducated folks are educated on and about cryptocurrency.
Less scam..

After all these, its a sure thing it will take over.

Why would you need to increase the total supply of a coin to accommodate everyone, take the case of bitcoin, it has 21 million coins and it can be divisible to eight decimal places and so we do not need more coins and there will satoshi left for everyone to transact.

No.. i dont think so, since every country had their own currency, and they have strict rules to protect their main currency.. There is no government on  this earth would like to see their main currency to collapse. Well the possibility of crypto being banned in the future is real