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

[hardforkcoin]

At some point in time, be it Bitcoin or some other coins or some other better blockchain, I have full faith that something will come along that is going to be used by almost everyone.

People will look at someone using dollars and say to them, "what are those" or "why are you using those". That is where we are headed! Everyone will have smart phones and better tech, it stands to reason we will have better "money"that tech creates.

[Palmerson]

It remains to be seen. Now people are attracted to constant growth rates, but this is because a lot of people are holding bitcoin, with the goal of getting rich. Also, a lot of speculators invested their money in bitcoin. If circumstances change then the price may start to fall again, it will trigger a panic, but a much larger scale.

[Dudeperfect]

Nope. I don't think that anytime in the future governments would ban any cryptocurrency for being a crypto currency. However, governments are free to take action against any group is they are misusing the concept for money laundering or other illegal activities. On the other hand, cryptocurrencies won't emerge as a threat to the normal fiat currencies because there will be the users who will always use fiat currencies for one or more reasons.

[cubevtc]

never cripto curencies can take place off regular curencies
i am sure all country will rejected that

[deisik]

Cryptocurrencies definitely have the potential to become the currency of the future, however the governments won't be happy to let that happen as there is no way they can control/monitor the usage of BTC. They won't, in any way be able to tax it too

This is not the major issue with cryptocurrencies from the view-point of a government

A cryptocurrency overtaking fiat is unlikely to happen (at least, not in the near future), but if Bitcoin (or some other cryptocurrency) is able to compete on par with some fiat money, lack of control over transactions will be irrelevant and ultimately inconsequential. The major problem (for the government obviously) will consist in people abandoning the local currency just like Zimbabweans started to abandon the Zimbabwean dollar in favor of the American dollar when the former stopped being money. And no government will be able to stop this switch. They simply can't throw half of their population into jail hiring the other half as jailers

[Wipro]

At some point in time, be it Bitcoin or some other coins or some other better blockchain, I have full faith that something will come along that is going to be used by almost everyone.

People will look at someone using dollars and say to them, "what are those" or "why are you using those". That is where we are headed! Everyone will have smart phones and better tech, it stands to reason we will have better "money"that tech creates.

If we the bitcoin is price digital currency is always in top from the time past two years to now. So take bitcoin as a asset to you and hold it how you do to gold and US dollar not be worth and compare with the cheap altcoin as well.

[Glorious04]

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 dont think so. As long as it's not yet legalized still the country's present currency will still be the one recognized, used and supported by the government

[Hydrogen]

Bitcoin definitely has the potential to overtake digital/electronic currencies. Bitcoin is cheaper, faster and more reliable than many forms of electronic payment & exchange. Old and potentially obsolete technologies like automated clearing houses and wire transfers are typically inferior to bitcoin in many ways. These deficiencies translate to bitcoin fulfilling an essential need in certain industries which have not evolved much over the last few decades.

Even if bitcoin transfer costs rise to $20 per transaction that will still be cheaper than many wire transfer services which charge twice that amount.

[conspirosphere.tk]

yes crypto can (and likely will relatively soon) overtake fiat because:
- it can (and often does) go up;
- uncensorable and private, in your possession.

To try to ban crypto would be ineffective and counterproductive, but they can try with market manipulations and other dirty tricks like they have been doing with gold/silver or the bigblocker plants in btc to destroy the price expectations and confidence, because they still have money printers and the state apparatus.

[cramcram21]

No I don't really think it could  overtake the regular currencies,
As long as the government wouldn't legalize it.

[conspirosphere.tk]

No I don't really think it could  overtake the regular currencies,
As long as the government wouldn't legalize it.

At maybe 70 Billions $ the monetary base of BTC is already higher than the monetary base of 1/3 or more of countries in the world. So in this sense BTC already overtook them.
Even if they ban it, the informal economy accounts about 30% of the whole world economy and keeps growing. When there is demand from the public the law does not apply, especially on the internet.

[jimn]

Yes, i think crypto currencies have the potential to overtake fiat and regular currencies, and especially Bitcoin nowadays is having such potential, and that's obvious. But it will need a bit more time, because till now there is many marketplaces not supporting crypto currencies as payment methods.

[finzyoj]

Indeed it got the potential.. crypto is fast, stable, secure and trusted as well

I think it has a potential in other country.specifically those who have a strong and  stable connection. And i thought crypto can overtake regular currencies due to its poupularity but it can't easily replace the regular currencies. There's so much things/factors that should be consider first before it will happen.

[hardforkcoin]

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 fact that any government and or bank would be involved with a crypto currency is the exact defintion of undermining the entire point of a crypto currency.

We want things to be decentralized, and away from all of the governments and banks. By getting them working with code developers and all that it would create new coins people would be confused about, many average people would be duped into the crypto world, when in reality whatever those coins the banks/governments make are just as crap as fiat and central banking.

[Mbah Djoko]

this is not easy, because introducing bitcoin en masse to all citizens is not easy, many government programs that citizens do not know so can not be effective. Cryptocurrency is difficult to officially use en masse and overtake regular currency.

[SirLancelot]

Cryptocurrencies definitely have the potential to become the currency of the future, however the governments won't be happy to let that happen as there is no way they can control/monitor the usage of BTC. They won't, in any way be able to tax it too.

Definitely, if BTC was made a kind of replacement for regular currencies from any country, it may reduce the amount of security hacks, but only if the user is careful enough.

However, one negative I see to this things is that if a country has BTC as its regular currency, then if, due to the volatility of BTC, the market value of BTC takes a huge dip, the country may even get bankrupted, so there is no chance of BTC overtaking the regular currencies, until and unless there is stability of the market price.

That’s true. Basically I don’t consider the primary function of the bitcoins to be used as currency. What I believe is that they should be treated as investments and this s how maximum people look at bitcoins. Bitcoins volatile natures make them more suitable for investments rather than currency.

[Omegasun]

Cryptocurrencies definitely have the potential to become the currency of the future, however the governments won't be happy to let that happen as there is no way they can control/monitor the usage of BTC. They won't, in any way be able to tax it too.

Definitely, if BTC was made a kind of replacement for regular currencies from any country, it may reduce the amount of security hacks, but only if the user is careful enough.

However, one negative I see to this things is that if a country has BTC as its regular currency, then if, due to the volatility of BTC, the market value of BTC takes a huge dip, the country may even get bankrupted, so there is no chance of BTC overtaking the regular currencies, until and unless there is stability of the market price.

That’s true. Basically I don’t consider the primary function of the bitcoins to be used as currency. What I believe is that they should be treated as investments and this s how maximum people look at bitcoins. Bitcoins volatile natures make them more suitable for investments rather than currency.

definitely,as predicted it's value will increase to$5000 this montha ,and will increase in more years . It can be a good investment even by just holdung. Our wallet alone can act as a bank and we can monetor how it progress.

[Ilegendph]

Yes , as we can see now bitcoin is at $4000 and still growing up and to be expected at this rate until it becomes $10000. In our country bitcoin surpasses our regular currency making it ideal to work online and earn bitcoin than to apply for a company at a minimum wage.

[ImHash]

Nah, have you seen how BIG WU infiltrated into the blockchain? if you noticed now there is sat per WU that means we're paying him some fees for every transaction as well I don't care if that stands for Weight Units that is just a distraction from their main goal.
The entire world's economy revolves around fiat, replacing it will take a very long time, maybe more than 50 years but the potential is there for real, people just need to realize it on their own terms.

[deisik]

Bitcoin definitely has the potential to overtake digital/electronic currencies. Bitcoin is cheaper, faster and more reliable than many forms of electronic payment & exchange. Old and potentially obsolete technologies like automated clearing houses and wire transfers are typically inferior to bitcoin in many ways. These deficiencies translate to bitcoin fulfilling an essential need in certain industries which have not evolved much over the last few decades.

Even if bitcoin transfer costs rise to $20 per transaction that will still be cheaper than many wire transfer services which charge twice that amount

How long ago did you make a Bitcoin payment yourself?

People are complaining that they have to wait hours before they get a single confirmation on the blockchain. I don't think it goes quite well with your claim of a "cheaper, faster and more reliable" way of transferring value across the world. Indeed, you can add more fees, and your transaction will likely get confirmed faster, but please don't say that Bitcoin is a reliable way payment since this is in no way guaranteed (let's remain real here). Right now it turned into an outright shitty way of payment. A few days ago I sent a few litecoins from my personal wallet with the fee set to the lowest possible amount. The transaction got confirmed faster that I switched from the wallet back to the browser to see this very transaction