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Author Topic: Do you think cryptocurrencies have the potential to overtake regular currencies?  (Read 3667 times)
Anfisman
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August 14, 2017, 12:01:47 AM
 #21

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 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.
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August 14, 2017, 06:50:51 AM
 #22

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 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.

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August 14, 2017, 01:18:14 PM
 #23

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.

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August 14, 2017, 01:24:24 PM
 #24

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?

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.
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August 14, 2017, 01:40:19 PM
 #25

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.
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August 14, 2017, 01:40:52 PM
 #26

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 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.
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August 14, 2017, 08:22:07 PM
 #27

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?

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
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August 14, 2017, 11:39:03 PM
 #28

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.
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.

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August 15, 2017, 01:44:02 AM
 #29

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.
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August 15, 2017, 02:25:07 AM
 #30

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.
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.

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.

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August 15, 2017, 02:36:16 AM
 #31

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



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August 15, 2017, 03:14:34 AM
 #32

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.

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August 15, 2017, 10:07:48 AM
 #33

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

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August 15, 2017, 10:20:11 AM
 #34

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.

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August 15, 2017, 02:38:09 PM
 #35

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?
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.
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August 15, 2017, 02:43:42 PM
 #36

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.

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August 15, 2017, 04:42:26 PM
 #37

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.

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August 15, 2017, 04:51:07 PM
 #38

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
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August 23, 2017, 02:07:52 PM
 #39

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.

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August 23, 2017, 02:48:33 PM
 #40

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.


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