Do you think cryptocurrencies have the potential to overtake regular currencies?

[komjhq]

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.

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.

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[goaldigger]

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.

[dogz12]

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?

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

[raven7886]

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.

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.

[logicgate]

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.

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.

[wuvdoll]

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.

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.

[Seeker#9]

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.

[denny27]

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.

[swordling143]

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?

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.

[jacksonmark30]

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.

[Ewinsane]

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.

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.

[Requim]

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?

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.

[worle1bm]

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?

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.

[cydrix]

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?

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.

[budz0425]

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?

Nope not gonna happen even for centuries. This is called cryptocurrencies, it s.anpnymous hard to tracked maybe cant be. If it were to happen it would be absird and pure idiocy. All crypto's cant overtake any real/state currency but the price however it has the legality and full potential to be spend.

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.

[rickadone]

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.

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.

[engrlodi]

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.

[dharnamonitor]

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?

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.

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.

[last7minutes]

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.   

[EdenHazard]

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?

Nope not gonna happen even for centuries. This is called cryptocurrencies, it s.anpnymous hard to tracked maybe cant be. If it were to happen it would be absird and pure idiocy. All crypto's cant overtake any real/state currency but the price however it has the legality and full potential to be spend.

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.

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.