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Author Topic: Can cryptocurrency make real money disappear?  (Read 21056 times)
Tyrantt
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June 14, 2017, 02:20:44 AM
 #21

Very low to none. If cryptocurrencies  were to replace fiat currency then banks and governments would have a way to benefit form those transactions or maybe even make their own cryptocurrency named after the currency in that country but simply replacing it completely... not gonna happen.
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June 14, 2017, 02:22:35 AM
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No cryptocurrency cannot make real money disappear, the whole world still uses fiats it coult take hundreds of years before humans adopt cryptocurrencies as money imo.
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June 14, 2017, 02:27:08 AM
 #23

If fiat is replaced by crypto currencies, then bitcoin and these altcoins would become the “real money”, so to speak. But the possibility of that happening seems to be quite low given that governments support their own currencies and would most certainly do all that’s necessary to prevent it from collapsing. If anything, crypto currencies could work side by side with our local currencies, but in a more regulated manner.
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June 14, 2017, 02:47:52 AM
 #24

Now this consensus is already established, that Bitcoin has a certain value. People who recognize this consensus come from many countries. De facto, actually Bitcoin has become one of the world's currency. In my opinion, the largest export of the United States is US Dollar (USD). The world trade that the majority use USD makes USD very valuable and profits to the United States, at least in the form of influence to other countries. The dependence of world trade on USD is not ideal yet. Because USD is the currency of a country, where if something happens with that country automatically the value of its currency will be affected. Bitcoin that is not affiliated with a country in my opinion is very likely to be used as world currency for trading. Without any affiliation the influence of a country's circumstances to the value of Bitcoin would be minimal, so Bitcoin would have a more stable exchange rate. Currently (data 2015) is about 100,000 places that receive Bitcoin as a means of payment, the countries of the world are now worried about the widespread use of Bitcoin, which includes crimes such as ransomware and terrorism. These countries find it difficult to track transactions and as a result it is difficult to apply taxes on those transactions. If in the end formed a consensus between Bitcoin users and governments of the countries of the world. I think Bitcoin will be the world's currency.
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June 14, 2017, 03:08:00 AM
 #25

I do not believe so if cryptocurrency will dislodged or make fiat disappear. Not in my lifetime though. Its far from that to happen. There are still people who prefer to used a fiat and its a fact. Also, not all people are tech savvy.

But there is an endless possibilities, sometime in the future maybe.

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June 14, 2017, 04:00:01 AM
 #26

If fiat is replaced by crypto currencies, then bitcoin and these altcoins would become the “real money”, so to speak. But the possibility of that happening seems to be quite low given that governments support their own currencies and would most certainly do all that’s necessary to prevent it from collapsing. If anything, crypto currencies could work side by side with our local currencies, but in a more regulated manner.


I agree with you, though development of bitcoin and altcoin is so rapid and very popular, but real money can never be replaced with any digital currency.
Because real currency is actually the currency of a country that certainly can not be replaced with digital currency, and until now not everyone understands about use of digital currency.

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June 14, 2017, 04:00:44 AM
 #27

Very low to none. If cryptocurrencies  were to replace fiat currency then banks and governments would have a way to benefit form those transactions or maybe even make their own cryptocurrency named after the currency in that country but simply replacing it completely... not gonna happen.
Yes agree, and the Government will continue to protect the real money because it is a symbol of the State, is too risky if cryptocurrency used in totally because the state economy is easily controlled by someone.
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June 14, 2017, 04:40:12 AM
 #28

What are the chances of living in a world with no actual money ?  Shocked

I think it would not be possible. Most people are uneducated about bitcoin if bitcoin will replace money then those uneducated about the cryptocurrency  will be put at the bottom. It is also very risky there are so many security risk of bitcoin.

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June 14, 2017, 04:54:07 AM
 #29

What are the chances of living in a world with no actual money ?  Shocked

I think it would not be possible. Most people are uneducated about bitcoin if bitcoin will replace money then those uneducated about the cryptocurrency  will be put at the bottom. It is also very risky there are so many security risk of bitcoin.

Yes, it never happen. Although the era has been filled with modern technology. If bitcoin is recognized throughout the world, real money continues to exist forever. Cryptocurrency cannt be fully utilized to solve all financial transactions of the crowd.


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June 14, 2017, 04:56:33 AM
 #30

No.. I think Cryptocurrency never equal real money... On the future, we can have methods to shopping or pay via cryptocurrency but never can replace. Cryptocurrency maybe seem like assests (Gold, Silver,...)

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June 14, 2017, 05:19:42 AM
 #31

Crypto currencies would not make money disappear.Fiat money is being issued by appropriate governments and they frame necessary policies to make it withstand all economic problems.Crypto currency would become as a secondary payment option all over the world next to fiat currency.Even bitcoin is valued based on its fiat value of US dollars.

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June 14, 2017, 05:58:16 AM
 #32

Crypto currencies would not make money disappear.Fiat money is being issued by appropriate governments and they frame necessary policies to make it withstand all economic problems.Crypto currency would become as a secondary payment option all over the world next to fiat currency.Even bitcoin is valued based on its fiat value of US dollars.

I also agree current paper money can't be replace with digital cryptocurrencies.
bitcoin and other alt-coin is used in online transaction or it has it's own function than real paper money.
Paper money is more convenience to used and easy to carry and easy to pay fees than cryptocurrencies is less convenience because it is online and need transaction fee and network confirmations. 

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June 14, 2017, 06:57:30 AM
 #33

What are the chances of living in a world with no actual money ?  Shocked

You're getting "actual money" and "real money" mixed up with fiat currency.

Money is a store of value. Currency is simply a medium of exchange. Money is gold, silver, bitcoin because they have a fixed amount that can ever be produced, either through a limit in code in bitcoin's case or physical limits in gold's and silver's case.

I suggest you watch some of Mike Maloney's content, it is helpful for starters to get a grip on why fiats are not the solution to problems in this world, and rather cryptocurrencies/preciosu metals will. Even though sometimes he advertises his site a bit, his points are good in general.

Bitcoin definitely has the potential to eliminate fiat. However, before this can happen the fiat debt bubble has to collapse. Then, central banks will have no control over the economy and a free market with bitcoin will probably emerge.



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June 14, 2017, 07:22:41 AM
 #34

I think it won't happen because real cash is needed in real life, people need cash to pay for the real things in the real shop, they need to go outside to buy things, not in their home buying things online

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June 14, 2017, 07:26:43 AM
 #35

I think, no, unless the idea "Coin of things" come true because people still need cash to pay for real shop, they can't just buy things online everyday, over and over again
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June 14, 2017, 07:56:52 AM
 #36

I think, no, unless the idea "Coin of things" come true because people still need cash to pay for real shop, they can't just buy things online everyday, over and over again
I think so, only when everything all over the world can be paid with Bitcoin or e-currencies will cash disappear because people doesn't need to use cash to pay for their lives

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June 14, 2017, 08:02:40 AM
 #37

I think, no, unless the idea "Coin of things" come true because people still need cash to pay for real shop, they can't just buy things online everyday, over and over again
I think so, only when everything all over the world can be paid with Bitcoin or e-currencies will cash disappear because people doesn't need to use cash to pay for their lives
I think you're right, things disappear when  people don't need them, so money can not disappear if people keep using money in the real life
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June 14, 2017, 08:09:17 AM
 #38

I think, no, unless the idea "Coin of things" come true because people still need cash to pay for real shop, they can't just buy things online everyday, over and over again
Right! money can not disappear itself, when people use coins to pay for their daily life instead of real cash, it's really the death day of money Smiley
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VIABET.IO PRE-ICO | NOV 14


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June 14, 2017, 08:12:44 AM
 #39

What are the chances of living in a world with no actual money ?  Shocked

I don't think that. Physical cash will be always required for day to day transactions. It is possible that, there will be more use of digital money but fiat currency will be there.

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Crypterium - Digital Mobile Cryptobank For Everyon


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June 14, 2017, 08:19:18 AM
 #40

I'm not sure cryptocurrency will make dissapear money real, this is because the users real money will always be greater than the cryptocurrency that it took a very long time.



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