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

[Agaton]

It can overtake in term's of value. But about the legality of cryptocurrency will behind also. Currency like paper money are legally used as a medium of exchange. But talking about bitcoin it is also use to make money with a high exchange value, so therefore bitcoin is more over than paper money or it is really overtaking to real money.

[ridimatu]

Yes i do think the cryptocurrencies can overtake the regular currencies and in fact they already did it.

[Bitkoyns]

in terms of its value sure yes on what i see now , but on having the use as fiat money ill say no crypto for me is just for the internet world and it will never be like fiat money because of government that supporting and issuing the fiat since we dont have government here to support crypto so it will  never be happen to overtake the use of currency.

[Btc_1856]

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.

I also think that way. Although the crypto currency is potentially, its value and its users are more than paper money, but it will only be in crypto and will continue that way.

This is very true. Currently, cryptocurrency is showing a lot more features than conventional currencies, which is evidenced by the strong growth of the crypto market in the last few years and especially in 2017. I firmly believe that if governments do not have appropriate management policies, cash may be lost.

Just only last year 2017 has made some drastically increased their value because growth of the community attracted to it. So from here onwards compared with other currency crypto will play major role in terms of currency.

[Stac]

When we compare the price ranging of bitcoins and traditional currencies the price of bitcoins is so higher than any asset or commodity which means the bitcoins have overtaken the price of local currency and it will be  sustaining the first position in the financial market due to increased number of bitcoin user's and more demand of bitcoins. Bitcoins and all other crypto currencies are backed by the local currency so traditional currency is also required to run the crypto currency as there is no physical existence of crypto currencies, may be in the long run when all accept the internet technology and digitization, then there will not be any need for the local currency as all the transactions will be carried out with bitcoins and other crypto currency.

[Gabrieelle]

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.

I also think that way. Although the crypto currency is potentially, its value and its users are more than paper money, but it will only be in crypto and will continue that way.

This is very true. Currently, cryptocurrency is showing a lot more features than conventional currencies, which is evidenced by the strong growth of the crypto market in the last few years and especially in 2017. I firmly believe that if governments do not have appropriate management policies, cash may be lost.

Yes I agree that cryptocurrency is on the rise and will continuously rise in the coming months and days, but it will not overtake the regular currencies, as the country will not be in favor and won't agree with that. We are just thankful that most of countries embraced cryptocurrency.

Indeed cryptocurrencies cannot overcome regular currencies because that is what we are usually using in our daily lives. Cryptocurrencies has a lot of advantages than regular currency and it has more capability to be successful because of different innovations being developed every year.

[Pab]

No any country needs his own currency and economy.Look Europe and euro,rich north poor south
And lot of tensions becouse of that,cash will also stay,how many places in Europe i know where i can pay only with cash.And still best wallet is your own pocket

[0t3p0t]

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 depends on how banks and governments understand cryptocurrencies. In some countries cryptocurrencies are banned, some legalize and some don't legalize but does not prohibit their citizens from investing or taking part into such digital currencies. For me it is possible for them to implement a ban against crypto but I know that they also think of the possible outcome caused by their actions. Crypto's helps people to have a financial freedom and I don't think if governments are against in that situation but if they will then they're greed. As an investment yes it is a threat because people are switching their money from fiat to crypto. People are holding huge amount of crypto's compared to holding fiat money because they felt safe with their investments unlike the investments in fiat that taxes is always present.

[betchay22]

Maybe yes if they can regulate it. It will take a long process to do that cosidering that every country has their own currencies

[wumBowo]

if youre talking cryptocurrencies like bitcoin and altcoin, it has but it's small. But if youre talking an regular currencies will become cryptocurrencies it's has a potential since blockchain is a new and promised system for financial

[TheKeyLongThumbI]

It will because the regular currencies need to be converted to another one like dollar and exchangers deduct so much but unlike btc which you can use anywhere once mass adoption is fully implemented.

[Ararbermas]

I think even the price of cryptocurrency reach the all time high value it cannot overtake fiat even though its value is so high than other currency and gold.  Cause we have a different currencies around the globe so its impossible to implement that crypto will replace fiat. Yes it can overtake the valued but the position maybe not. And for sure crpto will remain a very helpful transparent currencies in the future.

[Pjoh ie]

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?

if I think the world crypto will not affect the bank or the government because bitcoin is not affected from the politics of a country but some governments or banks remain afraid of the existence of bitcoin because it can interfere with investors who initially invest in banks are now beginning to switch to bitcoin.

[Kevin77]

This could be an option for the future because we all know that we will kill the cash and everything would be online in the future so there is a big chance that we skip the cash and go to cryptocurrency.

Yes because of our adaptation in the technology there is a big possibility that the cryptocurrency in the future would become useful in different countries and many people are benefited for the profit that cryptocurrency can provide but there are policy that the government should be order before implementing this in order to protect the users.

Very huge possibilities that it could, but it might just take a little bit of time before we see that happening. However, looking at the features that cryptocurrency have over regular currencies, it is huge and people are gradually beginning to see that. Talking about transaction speed without borders being a limitation, and some crazy bank policies affecting the way you spend.

[suzanne5223]

The Chinese, Moroccan, Brazilian, Indonesian government are against bitcoin and crypto currency at large because they see it as a threat to their national currency. Therefore, this shows that crypto currency does have the ability to overtake the regular currency.

[fulmetal08larz]

I believe it does. If the majority of people have adopted crypto and use it on their daily life, the government won't have any other option but to embrace it to gain people's trust. The technology behind crypto could be very useful in this digital age we are heading.

[Pixyoxx]

Rather than baning cryptocurrency in the name of them being a threat to normal currency is, most likely the government and authirities would create some centrally owned and regulated digital currency of respective countries to tackle and give neck to neck competition to existing cryptocurrency.
Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.

[Wolfwar]

Rather than baning cryptocurrency in the name of them being a threat to normal currency is, most likely the government and authirities would create some centrally owned and regulated digital currency of respective countries to tackle and give neck to neck competition to existing cryptocurrency.
Digital form of money is the future and no one is unaware of it. So the governments woukd definetely move forward in the same direction by creating their own digital monetary form than baning the existing ones.

of course, if you pay attention to the practice in Japan, as well as statistics on the promotion of crypto currency in this pleasure, then I think that many users would like to see this in their country. Respect and respect for Japan. But I think that the crypto currency will not be legalized in all countries and there will be a lot of problems with this.

[ajdaj]

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 as soon as the government comes up with how to take control of crypto, they will immediately do so. The government is not yet up to bitcoin, but I think when most of the population speak openly about crypto, then the government will think about what to do.

[posi]

Yes, crypto currency have the maximum potential to overtake regular currency and this is the reason why some government,regulator and banks are against crypto currency in other to make people believe crypto currency is gamble.