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Author Topic: Can cryptocurrency make real money disappear?  (Read 28307 times)
isabella01
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June 13, 2017, 07:38:16 AM
 #1

What are the chances of living in a world with no actual money ?  Shocked
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June 13, 2017, 07:40:33 AM
 #2

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

Low. I think personally that cryptocurrencies wont make FIAT useless, but I think that cryptocurrencies will work hand-in-hand with FIAT money. Especially in countries like the United States, and the other first-world countries; I don't see FIAT going anywhere soon.

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June 13, 2017, 07:51:33 AM
 #3

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

Well, fiat money is given out by financial institutions that are big in size and are backed by the government. They make their earnings by charging fees for transactions and they will do everything to stay competitive. So I don't think that fiat money will be gone completely in the near future.

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June 13, 2017, 10:51:47 PM
 #4

What are the chances of living in a world with no actual money ?  Shocked
I cannot answer rightly but all of us here are free to share our thoughts about it. I don't think cryptocurrency has a capability to do it  but with bitcoin it can be possibilble. That's was my view on it Grin

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June 13, 2017, 10:56:57 PM
 #5

This is something that has come up time and time again, I'm still going to have to say that I think the answer is going to have to be a no on this one. I just personally can't see a time where the government allows a lawless and decentralized coin / cryptocurrency to take control over the currency which they have total control over within their country. Why would they give up the control that they want and they need to be able to fully control everyone within their country?

I'd be dumb for them to do this, and I don't think they'd ever decentralize the currencies globally like this. There's going to be wayyy too much money from people who don't want this to happen going into congress for this to even come out of Congress with a win for the people who support cryptos.

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June 13, 2017, 10:59:53 PM
 #6

What are the chances of living in a world with no actual money ?  Shocked
Sadly big chances. Many known people want to introduce plastic money (visa/mastercard for example) in their country.
If they will success, there will be no privacy whatsoever :/.
Crypto's can't scale that good to be national currency, its like digital gold, it can't replace FIAT.

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June 13, 2017, 11:03:00 PM
 #7

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

Low. I think personally that cryptocurrencies wont make FIAT useless, but I think that cryptocurrencies will work hand-in-hand with FIAT money. Especially in countries like the United States, and the other first-world countries; I don't see FIAT going anywhere soon.

I fully agree.
cryptos are good for some things, the most important is preventing governments from screwing monetary policies. I too forsee a future with just a bunch of fiat currencies.
I question that really do not know how to answer is what will happen to commercial banks, I do see investment banks living well with cryptos though.
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June 13, 2017, 11:05:46 PM
 #8

This is been discussed alot of times,no not possible at all,bitcoins are just based on the real money before it bloom up and make big news around the cryptoworld.Technology and modernization will makerealmoney disappear and make it digital but i think thats not bitcoins Smiley


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June 13, 2017, 11:08:20 PM
 #9

Real money will never disappear for the simple fact that there is no offline cryptocurrency and I don't see that there ever could be. I do think however they will complement each other.
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June 13, 2017, 11:40:27 PM
 #10

You mean fiat? Well... I do not think that Bitcoin can make fiat disappear. Governments will not allow such a phenomenon. If it did happen, we are looking at a global economy degradation. Every economy would die out and governments would struggle. Moreover, Bitcoin is also highly volatile in price and we are looking at a fluctuating income, retirement fund... etc. 

Personally, I just can't see the world without fiat. Bitcoin and fiat may work well together, but Bitcoin will not take out fiat completely.
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June 13, 2017, 11:56:51 PM
 #11

There is a pretty low chance of living in a world with no actual money and using cryptocurrency as substitute to actual money because governments wont just let it happen. cryptocurrency would be just another way to pay online and offline when many people use it, and if that time comes real money, which is fiat will still be there used by people. Cryptocurrency will be used just like how we use credit card now by that time.

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June 14, 2017, 12:25:08 AM
 #12

Real money will never disappear for the simple fact that there is no offline cryptocurrency and I don't see that there ever could be. I do think however they will complement each other.

Until they take bitcoin at McDonalds and the Shell station, I think I'm going to stick to cash. It's really a pain to buy giftcards with bitcoin, and you can only buy certain places (I can't find Taco Bell on the Gyft app, they have a lot of places but they aren't all so useful).

I can't give bitcoin to my dealer Smiley
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June 14, 2017, 12:38:48 AM
 #13

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

With the features and characteristics of digital currency these days? Almost zero. Besides, what can you do with a digital currency that can't be done with a fiat or real money. And not all people are into these kind of currency, they are contented on what the fiat are right now. And there is a lot of improvement that must be done to bitcoin before it steps up.

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June 14, 2017, 12:50:38 AM
 #14

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

for me I think these could not be happen! paper money is used sense in our ancestor very long-long time ago and until now we used it and it's really hard to change it with digital money or cryptocurrencies.

If it is happen! may be we can adopt it easily because we are now in digital era and most of the people know computers and internet.

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June 14, 2017, 12:58:50 AM
 #15

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

for me I think these could not be happen! paper money is used sense in our ancestor very long-long time ago and until now we used it and it's really hard to change it with digital money or cryptocurrencies.

If it is happen! may be we can adopt it easily because we are now in digital era and most of the people know computers and internet.


I too cant imagine crypto would replace fiat but in a different reasoning. Fiat or converting it to currencies is a means to common transaction and even to count an entities wealth wether it be a government, corporation, or businessmen. Fiat is a very constant payment. I could believe i n world where transaction happen via card atms but htc couls never erase the currencies.
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June 14, 2017, 01:24:11 AM
 #16

What are the chances of living in a world with no actual money ?  Shocked
no chances i think, bitcoin is very good store of value, money especially change not so much

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June 14, 2017, 01:57:17 AM
 #17

First, banks must disappear in order for bitcoin to make real money disappear which I think is impossible because government itself is backing up central banks. It's true that bitcoin  is accepted in some countries but still they are just co-exists with real money. Imagine your 8 year old son carrying a smartphone to the store to buy a candy, the risk and danger that the phone will be stolen is high, so in small community transactions I think we need real money because the storing of chips and data in cells are not yet reliable enough to be implanted to humans. We have a long way to go. Let's see in 10 years or more on how will these turn out.



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June 14, 2017, 02:13:58 AM
 #18

You know this topic has been discussed in this forum over and over again and i will be answering this question over and over again.

No. Cryptocurrencies can't make noney or fiat disappear why? Because the government can't let that can except the governments endorsed it and also, fiat can be used without the use of internet.



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June 14, 2017, 02:17:03 AM
 #19

What are the chances of living in a world with no actual money ?  Shocked
Basically, that is impossible because the bitcoin rather cryptocurrency is need a requirments to use it so I think replacing the fiat money into cryptocurrency will impossible because not all people have an access to it so it will become impossible, So for me it's not possible.


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June 14, 2017, 02:19:19 AM
 #20

Not unless imposed by force by the state.

There still are people that aren't dumb enough to go all virtual and risk the loss of everything if there is no internet connection

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