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

[Gheka]

It is true that the crypto currencies capture market and i know that it has the potential to grow more but for this to overtake the other regular currencies like dollar YEN, British Pound are not easy because the crypto are fulfill some transaction but due to virtual status many people don't like this but all the currencies are goes side by side so all of these are important to me.

People uses both currency. But majority of the people prefer to use fiat over crypto. As for me, it is not easy for cryptocurrency to overtake regular as it needs to udergo more process. And cryptocurrency is not fully accepted to all countries.

With crypto, people just consider it as a valuable asset to increase over time, what they want from it is profitable, using it as a currency is probably not possible when the number of users in this society is still very low and many people are still not interested in the crypto. In addition, we can see that the government still does not really want to support it, cryptocurrency is still too difficult to control, and it can also be hacked very easily, it can not be safer and more convenient than regular currencies

[Bitexpert2017]

It can replace the regular currency of the cryptocurrency because bitcoin is so convenient to use rather than the regular currency. We as a supporter of bitcoin we can push through the importance of bitcoin to use.

[nano77]

I think it's hard for the government to accept bitcoin as currency because bitcoin has a fluctuating price and is very risky, it takes some policy to be able to change the regular currency with crypto currency and I think the government will not be able to control the bitcoin

[YzzyGo]

Although they have the potential, it is improbable that they will. There's a lot going on with national currencies and replacing them entirely with cryptocurrency would need a complete overhaul of their financial system. Which will take months to years creating setbacks making it counter productive. But if one country is brave enough and completely converted successfully then the rest would follow.

[AntonGrishko]

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. Because we have a different currencies around the globe so its impossible to implement that crypto will replace fiat.

[vaughn125]

Although they have the potential, it is improbable that they will. There's a lot going on with national currencies and replacing them entirely with cryptocurrency would need a complete overhaul of their financial system. Which will take months to years creating setbacks making it counter productive. But if one country is brave enough and completely converted successfully then the rest would follow.

I really do believe so too. This is what the people out there that are vigorously pushing the replacement of fiat with crypto currencies or bitcoin to be exact should realize. They must understand that there are a lot of things involved when you talk about changing a national currency with crypto currency like the usage problems which are the fees and the confirmation delays depending on the number of people using it, plus the technology of a specific country or advancement in terms of internet connection speeds and access availability. Unless the issues of cryptos gets fixed and the country adopting it has what it takes to support the currency usage, crypto replacing fiat is completely impossible.

[Tenderino]

Cryptocurrencies have doubtless the potential to overtake regular currencies, at least in countries with a less famous regular currency. But the problem is that the bitcoin system has no enforcement power and can not overtake something from governments. The people would need to overtake the government system and install bitcoin or something similiar.

[MIZANUR5033]

Cryptocurrencies completely based on the internet but regular currency has impact both internet and offline. Regular currency occurs both way and that why that has worldwide acceptance. Cryptocurrencies is not accepted by worldwide. We know some of the country ban the Cryptocurrencies, and some are not interested in this currency so it is not possible to overtake regular currencies.

If the government allow this currency than there has possibility to overtake, but its quite impossible. The reason of they don’t find how this currency control completely, they can control buy implementing tax but its worldwide currency and there has no control by that country. So it can huge possibility to impact the country control by other. If the government take it as alternative currency its help also the same way and hopefully will be great for the users and also the country though there has some negative impact also.

[KingScorpio]

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?

jes they do,

the reason lies in the broken overregulated bankster system, that is run by regional gays.

[onnz423]

They certainly have the potential, though I really doubt it will be bitcoin that manages to achieve this. In its current iteration there are far too many flaws to allow it to compete with regular currencies, its volatility, the scaling issues and the transaction times to mention just a few. I think if it forks a few times, and the lightning network test is successful then it will be a real contender, right now, it's not ready.

[leexhin]

I think it could but the government would surely decline it.
But maybe it would trigger the banks to start creating it"s own digital currency or some online payment,
And maybe in the future we wouldn't need cash because of it.

[knight20]

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?

Crypto currencies is also a electric or digital currency like credit cards, to keep your money you need to deposit it to the banks so that you where not hassle to bring your money. Just like crypto currency you could bring your money by you only digital phone.

To overtake the regular currency it could wait for long year before it happen

[Shamburis]

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?

[/quote
i think cryptocurrencies have the potential to overtake regular currencies do you even see now what is going on, that other cryptocurrencies is very much higher than regular currency.]

[EnricoGomez]

Yes, it is possible for cryptocurrencies to overtake fiat - but that would take a veeeeeery long process and time as there are many considerations to be viewed by each governments primarily starting with people and their technological abilities and capacities as cryptocurrencies obvioulsy heavily rely on them.

It could but for now, no.
(If it has not been banned, of course.)

[Kiweikoo]

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.

With time, humans have been changing their ways of doing things due to the changing needs. If gold can get replaced with paper money or fiat totally, then it is also a possibility that digital currencies take over paper money totally.

It is just a matter of time. Digital currencies are a way better than paper money. What if all the countries introduce their own national crypto coin, then there would be absolutely zero need of paper money. Digital coins are the future.

[davinchi]

Hmmm…. I don’t really see Bitcoin as a threat to normal currencies, although I do hate the fact that some people (especially the rich dudes) can use it as a means of money laundering which is very bad. Bitcoin and every other cryptocurrencies can’t overtake conventional currencies, cause they don’t even have the potential or what it takes, and they are neither getting banned. They will stay, but as stocks meant for investment.

[BTCappu]

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.

If you only talk about the potential and the capabilities of the crypto currencies, then I must say that they are very much capable of taking over the regular currencies and that they can change the economic system of the world as well. The only problem is this is not that much easy thing to do as it seems to be. It will no doubt take lot of efforts and that the positive response of the government will make the difference.

[lantan81383628]

Decentralization allows cryptocurrencies to give individuals more control over the digital currency and security. It has weakened the influence of intermediaries such as the global banking system, stockbrokers and clearing houses, reducing the geopolitical requirements and restrictions set by each country.

The use of cryptocurrencies has made it easier to buy goods and services abroad. No need to go to the foreign exchange counter.

[Daimon88]

I think it can be for some countries that have already received cryptocurrency but for countries that have not received will be very difficult because of lack of understanding of the cryptocurrency itself

This is first comment about which I can say it is sensible one. Really, there are so many comments here and you can read them. They say, yes bitcoins would be the supreme currency and will be using all over the world and all that boosting stuff. I think we must live in a reality where people are even unaware of what all these coins are so how can they use these bitcoins?

[SixOfFive]

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 can never replace fiat currency; probably the governments will never let that happen. They will never want to lose their control over the financial system of the country. Further, Bitcoin can never have that mass adoption which fiat currency has. Also, the government will never ban them because there are some many investors who still have faith in Bitcoin. Since Bitcoin is decentralized the users do not need the approval of any authority before using it.