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Author Topic: Do you think cryptocurrencies have the potential to overtake regular currencies?  (Read 3667 times)
eagle10
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April 18, 2018, 05:11:39 AM
 #421

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 are already banned in some countries but there are also countries wholeheartedly accept bitcoin  and altcoins like Japan and MALta and Australia too but they are subject to regulations. Stiffer regulation makes cryptocurrency move forward just like in Japan where exchanges are thinking to move its operation in a much crypto friendly regulation and environment country.

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April 18, 2018, 05:13:27 AM
 #422



In the digital world, forgery has another name, "double payment", which is used twice for the same amount of money, so both transactions are fraudulent. Cryptocurrencies are designed to combat this "double payment" problem. In cryptocurrency algorithm, block chain technology and different consensus mechanism are embedded.

These features make the encrypted currency superior to the unit function of the notes.

Cryptocurrencies exist in networks, so they are not physical objects. There will be no physical wear. Another feature of cryptocurrency over paper money is that it outweighs it in terms of durability.
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April 18, 2018, 05:26:38 AM
 #423

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 cryptocurrency is very difficult and seems very unsuitable to replace the regular currency, better cryptocurrency remains in use as an alternative currency only but if you want to replace the ragular currency then the total supply of the coin must be very much and have a very good developer.

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April 18, 2018, 05:33:18 AM
 #424

Everything you mentioned is very potential. First, of course, cryptokurensi very potential to become the currency replaces the conventional currency. Secondly there is the possibility that the government will try to undermine the process, because perhaps the current cryptocuration system does not fit their way of working. Then regarding the ban of bitcoin, it's happened to some countries.

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April 18, 2018, 06:06:01 AM
 #425

Undoubtedly, every year the role of crypto currency in the market will grow. Already, many big companies are using Blockchain technology. What prevents them from making transactions in the crypto currency? The popularity of fiat money is falling.
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April 18, 2018, 07:07:26 AM
 #426

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.

You are talking about the decentralized crypto currencies only. Indeed, these cannot be controlled by government and they also can’t have any record of transactions made in such coins.But if countries introduce their own crypto currency like Dubai or like Mark has introduced one recently, it won’t be wrong to say that paper money can get wiped out by digital currencies.

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April 18, 2018, 06:48:14 PM
 #427

Cryptocurrency has the pontential of overtaking regular currency.

If it is widely accepted globally
If banks and the government agree to implement it
If the poor countries have regular light, good internet services.
If the uneducated folks are educated on and about cryptocurrency.
Less scam..

After all these, its a sure thing it will take over.

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April 18, 2018, 10:11:26 PM
 #428

I think cryptocurrency is very difficult and seems very unsuitable to replace the regular currency, better cryptocurrency remains in use as an alternative currency only but if you want to replace the ragular currency then the total supply of the coin must be very much and have a very good developer.
Why would you need to increase the total supply of a coin to accommodate everyone, take the case of bitcoin, it has 21 million coins and it can be divisible to eight decimal places and so we do not need more coins and there will satoshi left for everyone to transact.

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April 19, 2018, 01:11:11 AM
 #429

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?

No.. i dont think so, since every country had their own currency, and they have strict rules to protect their main currency.. There is no government on  this earth would like to see their main currency to collapse. Well the possibility of crypto being banned in the future is real
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