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

[JohnBitCo]

I think it will get banned because no government will want to get disturbed by external currency or third party currency. They will never want their traditional currency to be dissolved just because of bitcoin or other coins due to it's high rates. There is difference in them and bitcoin might get troubles, a lot of trouble when it will come as currency to trade in the real life. The first thing is, it's decentralised and price of which would be fluctuating as always. This will lead o chaos when we will buy or sell stuff for it, as the rates wouldn't be fixed we may need to pay more or less all the time.

That's also what I was thinking.

Bitcoin has no chance against the major currencies as governments will never let it happen.\

There is no way that the government will give up on the ability to be able to control the inflation, and to regulate it's currency.
The whole market goes up at the moment because regulators hasn't touched bitcoin yet, but once they will, it's going to be an huge mess for bitcoin and it's hard to know how low the total market cap could reach.

Leave the government. They will never let it happen but see the investments in the bitcoins and altcoins and the overall interest of people and the total marketcap.
If this trend goes on , all the fiat will go into alts and fiat will eventually be finished if all people willing to use digital currency and they buy bitcoins/altcoins with fiat.

[Allura74]

I think it will get banned because no government will want to get disturbed by external currency or third party currency. They will never want their traditional currency to be dissolved just because of bitcoin or other coins due to it's high rates. There is difference in them and bitcoin might get troubles, a lot of trouble when it will come as currency to trade in the real life. The first thing is, it's decentralised and price of which would be fluctuating as always. This will lead o chaos when we will buy or sell stuff for it, as the rates wouldn't be fixed we may need to pay more or less all the time.

That's also what I was thinking.

Bitcoin has no chance against the major currencies as governments will never let it happen.\

There is no way that the government will give up on the ability to be able to control the inflation, and to regulate it's currency.
The whole market goes up at the moment because regulators hasn't touched bitcoin yet, but once they will, it's going to be an huge mess for bitcoin and it's hard to know how low the total market cap could reach.

Leave the government. They will never let it happen but see the investments in the bitcoins and altcoins and the overall interest of people and the total marketcap.
If this trend goes on , all the fiat will go into alts and fiat will eventually be finished if all people willing to use digital currency and they buy bitcoins/altcoins with fiat.

Yes i think there is, because our world is fast changing from generation to generation and the technology is escalating and advancing at a short period of time and our world become an internet of all things and everything run digitally and crypto currency will be the center of all monetary transaction.

[cmacwiz]

No i am not thinking that . Because many reasons are present which justify my think. No government never want any circumstance which can makes bad effect on their country real currency. Crypto currency user never pay tax and this thing affect an country economy. So this is one of the reasons behind my think. Another reason is Many Businesses, politicians using Bitcoin money transaction facility for transfer their black money and these transaction are can't be track by cyber unit of police. And crypto currency value are volatile in nature and this thing affect investor most. So these are some reason behind my think. 

[Boysen]

It could. As of now, many bitcoin enthusiast would agree to me when I say bitcoin could revolutionize the conventional currency we are using today. The technology behind cryptocurrencies holds a very high potential and a promising future altogether. Therefore making it suitable for changing the nature of fiat money we use today.

[beej]

It's a no to me, I think cryptocurrencies are big and very revolutionary so to speak. But replacing regular
currencies is a very different ball game. Surely we can safely say that it's massively popular and promising,
with everything that it has going for now, it's like an unstoppable force. I'm a big supporter of cryptocurrency
there is just so much potential in it, but the idea of replacing regular currencies are a bit over the top. Our
so called regular currencies are the basis of our economies and nations. It has served us well, inspired and
motivated a lot of people to financially thrive, invest and establish business ventures throughout the years.

[keeee]

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?

In my own opinion, crypto currencies cannot overtake or replace the regular currency. Even though crypto currencies have better features and capabilities compare to regular currency, it cannot replace the regular currency because not all people can have an access in crypto currencies especially the poor people.

[jhamz03]

I think it is highly unlikely that if cryptocurrencies will overtake regular currencies. However there’s a good chance for them to co-exist with regular currencies, but most likely with a significant lesser volume of exchange than regular currencies.

[winterland]

It's very unlikely, at least in the short period.
Firstly, there is no general acceptance: there is a lot of talking about cryptocurrencies, but they are still used by a limited number of pieoneers.
Second, when banks and governments will realize that there is the risk to lose their power, they will start a real war against crypto.
We'll see.

People are not going to accept bitcoin as massively as that unless they have no option, people are never going to accept the truth unless they are hit in the face by it, people are never going to accept the current system cannot last and it is a scam until they see it with their own eyes and see the economy in ruins, so until that point we cannot expect that crypto replaces fiat.

Shortly, it is hard to be implemented. Majority of us want this to be practically happening but this would be ending as a dream. No one can replace fiat money with bitcoins. Reason is obvious and you already told it that people are not accepting new system.

They are calling it scam and many others are doing propagandas about bitcoins. It may happen after three to four decades but not in near future.

It doesn't need to take as long if the economy crashes first, but while many have been predicting that something like that is going to happen the truth is the system can go for a lot longer than anyone of us can predict, so even if I think we're going to get a huge amount of adoption in the future that is still not going to be able to allow bitcoin to replace fiat in the short term.

[Suslura]

Actually to make it simple to understand between the two currencies. Crypto currencies are only currencies that exists and live in the cyberworld which it couldn't touch nor feel that kind of currency while fiats money or those currency intended in the particular country will in exist on that particular nations. In that case I don't think if it can overtake since the twi have different usage and purpose.

in my opinion, how each coin has its own purpose, and one does not need to equate yo-yo with real currency. The fact is that if all the coins are used for their intended purpose, then there will not be a single sphere of human life.

[mi56374100]

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?

When you fantasize about "counting your money," you might just have to look at your digital account in the future, because there may be no more money in the future.

Based on the characteristics of digital currency, the direct benefit of digital currency to the central bank is not only to save money issue, circulation and settlement cost, but also enhance the central bank's ability to control funds.

Digital currency has the advantages of lower issuance cost, lower transaction cost, traceability and higher cost of counterfeiting. Therefore, the future of digital currency is a trend.

[Seeker#9]

It is not possible because governments can also make their own cryptocurrency like what the government of Venezuela done. Bitcoin can be fully adopted into the mainstreams and can be use as one of the legal tenders but overtaking regular or national currency is still a remote possibilty. Furthermore, government will not going to allow any virtual currency that is beyond their control.

[yndye]

There is always a potential that more people would use cryptocurrency and overtake regular currencies or what we have known as fiat because people who have known it are increasing day by day. However, there is still the problem of having a limit when it comes to accessibility because there are still so many places in the world that have no access to internet in which they can't access cryptocurrencies and render it worthless so they would still use fiat as it has physical form and widely accepted. They would just co-exist and these cryptocurrencies would become more of an asset than a currency.

[LuciferEveningStar]

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 there is always a chance for cryptocurrency to get banned in every country, even now there are already countries who are banning bitcoins in their area and maybe those governments are just afraid of their people to get rich quickly and no one will work on the corporate world.

[supermam]

Cryptocurrencies and regular currency is different in many ways but maybe it takes a long time if this will happen but in my opinion crypto currency can't surpassed paper money because paper money has already established and people are already familiar with this.

[mOgliE]

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?

Hi,

I think that most banks and governments are currently trying to undermine bitcoin: through mass media, giving it a bad image; through official announcements, saying that people should be protected from themselves; through regulations making the use/possession of bitcoin illegal.

This is just logical. Because I think those organizations are smart enough and seize the potential of bitcoin. Bitcoin could be their end, as through bitcoin we can get rid of any control authority.

So, yes, I think that ban is a real threat. It won't be called this way but it will be. :/

[Rubble898zaitO]

What I think is best is that crypto currencies will be working along side the fiat currencies. I never believed that cryptos even Bitcoin can ever replaced fiat since digital currency is for a lot of people but not everyone plus the fact that the governments of each nation will not allow it to happen ever. They will do everything on its power to ensure that they will protect their own currency and will not be replaced by something that is decentralized in nature.

[idex100]

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?

Cryptocurrencies  will never be the best choice for Government as it is not the best tool to coordinate its economic policies(fiscal and monetary policies) and as such will always look for ways to restrict its use.Government will not able to bann its use fully because it's people-driven neither will crypto fully replace fiats.Crypto use in the future will greatly increase but will not fully replace fiats.they will co-exist

[idex100]

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.

Cryptocurrency will certainly be a dominant player in future economies as more persons are beginning to see the amazing potentials that are hidden in cryptocurrencies.I agree with you on this

[marinomario]

certainly the bank will think of ways to compete with blockchain technology, but it takes quite a long time because it takes a process to be able to compete. now bitcoin technology is in the look by some financial companies. they want to know how bitcoin performance through the blockchain system. it's possible that nowadays many countries want to ban bitcoin, but they think about bitcoin sophistication. several reasons are expressed in the country to ban it, one of them is the ease of laundering funds from taxes in bitcoin. I also as a bitcoin lover can only support it and hope there is a good way to overcome this problem.

[A1exander]

I doubt they have such potential. Bitcoin and regular currencies will exist in parallel. National currencies are too important for the existing economies to disappear. Banks and other financial institutions, and governments may (an probably will) use the blockchain technology, however.