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Author Topic: Do you think cryptocurrencies have the potential to overtake regular currencies?  (Read 3665 times)
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April 16, 2018, 04:48:11 AM
 #401

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?


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.
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April 16, 2018, 07:25:23 AM
 #402

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.
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.

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April 16, 2018, 01:36:52 PM
 #403

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.

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April 16, 2018, 01:49:33 PM
 #404

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.

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April 16, 2018, 01:50:51 PM
 #405

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.



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April 16, 2018, 10:39:46 PM
 #406

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.
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.

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April 16, 2018, 10:51:51 PM
 #407

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.

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April 16, 2018, 11:01:43 PM
 #408

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 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.

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April 16, 2018, 11:06:40 PM
 #409

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 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.

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April 16, 2018, 11:55:10 PM
 #410

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?

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.

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April 17, 2018, 12:38:44 AM
 #411

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.

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April 17, 2018, 12:48:15 AM
 #412

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.

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April 17, 2018, 01:21:37 PM
 #413

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.
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.

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April 17, 2018, 01:52:08 PM
 #414

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.

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April 17, 2018, 01:53:56 PM
 #415

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...
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April 17, 2018, 01:55:19 PM
 #416

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 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.

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April 17, 2018, 02:38:13 PM
 #417

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 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

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April 17, 2018, 11:14:00 PM
 #418

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.
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.

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.

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April 18, 2018, 03:46:44 AM
 #419

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.
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
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April 18, 2018, 03:49:38 AM
 #420

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!
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