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

[Techie5879]

Yes, they do possess lots of features and advantages over traditional fiat currencies. They can be transacted with within seconds, across any distance, and any time, there is no time limit, something that we see a lot in cases of NetBanking. Even some economists are nowadays predicting that bitcoin might just replace some major world currencies by 2023, like the US Dollar and Euro. Also anonymity, security of BTC is much more than traditional fiat currencies, and I think it might be one of the reasons why bitcoins might just get ahead of traditional currencies within the forseeable future.

However to get there, a lot of developing countries have to get their World Wide Web up and running soon and poverty and illiteracy needs to be remedied.

[semarmesem195]

Opportunities do exist, but to do so must require permission from the highest government, like the entire President in the world and perhaps the UN also contributes to it.
If one currency is replaced then the epek will affect other currencies. Doing so is tantamount to fighting the world.
It took perfect preparation to make it happen.

And i think the chances to succeed are 30%.

[nethan1btc]

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

[carlisle1]

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 surely do,that cryptocurrencies will overtake local currencies,maybe not in this times but will be in future,with the cryptocurrency prices,and the growing market cap,we are confident about the overtaking..though fiats will never gone,its just crypto will be more popular than fiats when that time comes

[cryptojac17]

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 surely do,that cryptocurrencies will overtake local currencies,maybe not in this times but will be in future,with the cryptocurrency prices,and the growing market cap,we are confident about the overtaking..though fiats will never gone,its just crypto will be more popular than fiats when that time comes

Yeah but  bitcoin has longer  way to reach that  point because it almost 1%of the world are using bitcoin but it's good news because bitcoin has a wider opportunity because of such number but for  sure banking system in the would make  a move to undermine bitcoin. But for sure will survived because peoples will  support bitcoin coin.

[bitlyra]

Yes it is possible that cryptocurrencies will overtake regular currencies. And it is already happening now because as we can see the value of bitcoin and ethereum it has a very high rate than other regular currencies.

[Lorna111]

On the question whether Crypto currency would replace other (regular) currency?  In my opinion,Yes it would probably overtake  the Regular currency only on the Market world. But replacing the FIAT CURRENCY of its country still a long way to go... Crypto is still on the INFANCY stage on the market, yes its gaining popularity but if you look into the News, there is a lot to be consider, issues on Regulation,Banned,Scammers. so i would say, ITS A LONG WAY TO GO BEFORE GOVERNMENT OF ITS COUNTRY ADAPT CRYTO into there normal Trading/Local transaction....

[futuret]

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

That’s how it is but if we can touch or feel something that does not mean it is more valuable than those that can’t be touched or felt. We can’t touch air and neither can we feel our brain, but those two are very vital resources. Crypto currencies have the ability to take over paper money someday due to the evolving technology. Crypto currencies might change our traditional way of money and new generations would absolutely prefer digital things.

[Dragon5]

Central bankers focus more on the rise
of private crypto-currencies, warning that they are speculative gambles. In times of stress, depositors
flee wobbly banks for safer homes. Even in normal conditions, Banks would face higher funding costs if
they had to compete with the central bank for deposits. Digital versions of currencies used internationally (eg, the dollar) could worsen these complications, if foreigners
were free to use them.

[CuteBaby123]

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?

Banks and governments now are working together to regulate cryptocurrencies. Instead of adapting and accepting the, banks and governments are making ways to ban them. Your prediction is right that they will ban crypto because they are threat to the regular currencies.

[South Park]

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?

Well since you are talking about the potential we need to say that the potential is there but is completely different to think that bitcoin is going to realize that potential not because there is something wrong with bitcoin but it is really difficult to think that governments are going to let a decentralized currency to take over the world of finances so easily.

[winterland]

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.

The fact that governments can create their own coins is irrelevant they are never going to create something like bitcoin if they create a cryptocurrency it is going to be full of backdoors they can use the monitor their citizens and at the end when the economy of the world crashes those coins will crash as well and only bitcoin will remain.

[Best Dreams]

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.

There is nothing to be uncertain about bitcoin because for user bitcoin potential is very high and it can make you earn high profit without any risk. Well regular currency is important to exist but not more than digital currency, as our system is now turning to the digital system and in all markets and all shopping malls digital currency is acceptable more than fiat and cash so it is gonna take the command of all kinds of need in life, we are going to see a digital system which will make our life easier and will save our time for working well in our office as you will not have to go out to pay your bills and to buy goods in shopping malls everything can be done even If you will be at home or at your working place.

[Izalcomax]

Never i think.. Each country soon will launch their  new regulations in order to protect their main currency. i bet they will !
Fiat money and gold still be the main priority

[666#666]

I do not figure science types of cash will supersede commonplace financial forms primarily on the grounds that crypto don't work disconnected whereas customary money will. Besides, crypto ar decentralised and therefore the legislative assembly wouldn't alter the decentralised framework to assume management over their incorporated framework, the one government will management.

[faranisa]

I think cryptocurrency has the potential to replace the conventional currency. The potential is enormous because humans expect a practicality in the transaction and it exists in cryptocurrency. On the other hand, the government will not allow it to happen because it will harm the state and can not monitor the circulation of crypto so that will disrupt the state finances.

[goku1525]

I think cryptocurrency has the potential to replace the conventional currency. The potential is enormous because humans expect a practicality in the transaction and it exists in cryptocurrency. On the other hand, the government will not allow it to happen because it will harm the state and can not monitor the circulation of crypto so that will disrupt the state finances.

I think its all about competence, either both usually doing great . We all know that bitcoin is decentralized, I don't think, cryptocurrencies overtake the regular currencies because its all about perceptions of the people and the government laws. Some people are not using new hi tech technologies because they don't know how to use it through internet transactions payments. But I think it will be a great priviledges to implement bitcoin studies on the community so that they will able to know how to use in such transactions.

[Sithara007]

Bitcoin has already done that, right? For example, the market cap of Bitcoin is greater than the total currency supply (only banknotes and coins) of major fiat currencies such as the Russian Ruble and Indian Rupee. In the future, it may even overtake the top fiat currencies such as the United States Dollar and the Great Britain Pound.

[zhekinsp]

Yes it has but it is not possible to completely remove the fiat system,because we need internet to use bitcoin and other crypto currencies but it is not possible to have internet access in every corner and at the emergeny situation crypto currency may not be usable,so crypto and fiat will combined together to make a health economy.

[Ausgewielt]

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?

Bitcoin will not replace or overtake regular currencies, regular currencies/paper money is on of governments tools to control their economy. All governments will prioritize their national currency, bitcoin will always becomes an alternative currency that will be very usefull for international transactions. Although there are many benefits that bitcoin giving to us right now but even it is too small to influence economy of small countries.