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

[bitgolden]

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 is not impossible that cryptocurrencies have the potential to overtake regular currencies, because there are some other countries using it as a regular currencies, but not all countries would use it. Actually, cryptocurrencies is the best for online currency and not all goverment could able to ban of cryptocurrencies.

Everything is possible under this blue sky of ours, my friend. If barter system can be replaced by the gold coins and then those coin system can be overtaken by paper money, why digital currencies can’t become the new face of our money? With time, requirements change. Bitcoin is the future of money and crypto currencies are going to be the medium of exchange in coming days.

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[andrei56]

Cryptocurrencies can't replace regular currencies simply because crypto don't work offline where regular currency does. But Government always wins, Cryptocurrencies will be either banned or will be fully controlled by the government

You are mistaken governments do not always win, they win most of the time that is correct but they can be beaten and they had been beaten in many other issues before and due to the nature of bitcoin and cryptocurrencies I have no doubt that this is another subject in which they are going to be unable to win and the people that have the means and the knowledge will be able to use cryptocurrencies with no problem.

[mimienamphine]

Cryptocurrency has a very bright future when it comes to the issue of money.Change is difficult but there is a time coming where people will fully embrace cryptocurrency because it is convenient ,fast and save for people to use.With cryptocurrency,you don't need to carry money in your pocket around.Everything will be digital and the risk of having your money stolen will be reduced with secured wallets development unlike fiat money where an armed robber can easily attack and steal your money.

[vnck25]

I believe in the future cryptocurrencies will completely replace fiat currencies!
Currently cryptocurrencies are in its formative stages with a minimal mass adoption and awareness among the general public. However, gradually with proper publicizing, better R&D , extensive use of technologies like AI, robotics, blockchainin and importantly with regulations mediated by government-backed agencies will eventually make cryptos a common thing on a daily basis. I strongly believe that there has to be some regulations made on cryptocurrencies for its own good!

[francis2]

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.

It is true that bitcoin is bigger than many national currencies around the world but let's be honest the benchmark is the US dollar and until bitcoin does that then no one is going to be that impressed by bitcoin, besides it is very likely that there are going to be a lot of measures taken so that day never comes.

[IndzheborgC]

With the help of ICO, not only coinage scamcoins are made, but interesting startups that would not have appeared under the usual investment scheme. These projects increase the economy, and therefore collect more taxes, direct and indirect for states. Therefore, they will not banned.

[Zabrielle]

Well, cryptocurrency status is very unstable so im not sure it will overtake the regular currency. As of the moment the crypto coin is a little down.  So i guess it will not out run the regular currency.

[phelbaby]

This will be possible in a well civilized country, but a country were there are still uncivilized and uneducated one this will be very impossible, and the local currency will still take the lead.

[Firefox07]

Cryptocurrency can overtake regular currency when it comes to value. But regular currencies are more accesible for all people and the only edge of crypto over regular is the price only.

[futuret]

This will be possible in a well civilized country, but a country were there are still uncivilized and uneducated one this will be very impossible, and the local currency will still take the lead.

There is no country in this world where hundred percent population is civilized. Take out the advanced or developed countries. You will find out beggar’s community everywhere. This is the way of world. I agree that it is not possible to use crypt coins without knowledge of internet and stuff but with the passage of time, everyone will learn using digital currencies. It is not difficult at all.

[hhussain]

Yes as the way they are growing now I am sure soon the world will adapt to accept cryptocurrency and we will see cryptocurrencies will be used same as regular currencies.

[Norihiro]

I think that it will happen, but cryptocurrencies will strongly change the shape up to that time. We'll see.

[mackenzie5]

 I think bitcoin is the first crypto currency which has the potential to over take the regular currencies near future. Bitcoins popularity is widening world wide because of its specific features and  usefulness to human being.The bitcoin legalized countries the people are using it for their domestic bill payment,local purchase from the near by shops for the daily consumable items and the international shopping from anywhere any thing at any time. Bitcoin has a very strong depth in the market and its market capital is very high which have the potential to replace such regular currencies.

[kyucryp]

in my opinion cryptocurrency will not be able to replace fiat money. fiat money and cryptocurrency two things that can run together, fiat money is used for everyday transactions. whereas cryptocurrency is more widely used to invest or store as an asset. bitcoin like valuable digital gold and has a high value and tends to increase every year.

[yanxuanyunshan4]

I don't think the government would be happy to accept bitcoin as an alternative to its fiat money. If the cryptocurrency wants to replace the conventional currency, it needs the government's approval, or the government's own scrip.

[Linggis]

I think there is the possibility of cryptocurrency being banned in the future because of the threat of "normal" currency.
Banks and governments have compactly prohibited the use of Cryptocurrency for use in their country.
Because the Government and the Bank consider Cryptocurrency has a great risk if used.
Though behind it all, they are worried about paper currency could be threatened because there is Cryptocurrency which is currently a currency that is more desirable to many people.

[Sitipxz]

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?

First, there is the scaling problem. You might think that this only affects Bitcoin, but in fact it's the same for any other cryptocurrency - they can't process more than 20-30 transactions per second at best, while visa is processing around 3000 transactions per second. There will be lots of improvments with cryptocurrencies that will increase their capacity, but demand will also be growing, because right now only around 40% of humanity has access to banks.

The other factor is how attractive they look, in comparison with traditional currencies. Most users won't care about decentralization and financial freedom, they need fast, simple, cheap payments, and if cryptocurrencies won't be able to provide this, than they will be mostly used by people who need their special features.

I'm sure that cryptocurrencies have a bright future as assets, but their utility as currency remains uncertain. I have a very high hopes for the Lightning Network though.

[dubidooh]

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 is for sure that government wouldn't allow cryptocurrencies to takeover fiat currencies. They wouldn't let something they can't control rule. If cryptocurrencies outpace cash in terms of usage, traditional currencies will lose value without any means of recourse. Should cryptocurrencies take over entirely, new infrastructure would have to be developed in order to allow the world to adapt. There would inevitably be difficulties with the transition, as cash could become incompatible quite quickly, leaving some people with lost assets. Established financial institutions would likely have to scramble to change their ways.

[tailwate07]

With the help of ICO, not only coinage scamcoins are made, but interesting startups that would not have appeared under the usual investment scheme. These projects increase the economy, and therefore collect more taxes, direct and indirect for states. Therefore, they will not banned.

If you only talk the potential and the capabilities of the crypto currencies, then I must say that all the crypto currencies are very much capable of over taking any of the regular currencies and they can lead the world in a better way. The only thing which comes in the way of the crypto currencies is that there are so many factors like that of the role of the government and similar things like that and if we can manage to address those things, then things will be very much different.

[BigDig]

This is a likely scenario with time. Digital money quickly pushed paper, and crypto is the next step. The question is how quickly people's consciousness will accept this idea.