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Author Topic: Can cryptocurrencies make physical money disappear?  (Read 923 times)
yselacreyo3
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December 24, 2017, 05:56:52 AM
 #1

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?

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December 24, 2017, 06:11:07 AM
 #2

I think not in this generation maybe in the future but right now we couldn't really rely too much in crypto currency,
We couldn't pay everything with crypto currency so we still need the Paper money or Fiat.

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December 24, 2017, 06:13:42 AM
 #3

This is not advisable. Definitely no, how about the others who does not have the access on cryptocurrency, think about it. It's unfair for the others, it cannot replace the physical money. It is different aspect here, if we're talking about who will benefits here definitely there would be a conflict will happen.
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December 24, 2017, 06:14:37 AM
 #4

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
There is very less possibility of this happening in the first place. Because,
1) We are already using the current physical money in the form of digital linking, using credit/debit cards, Internet banking, Mobile Banking etc. So you see we have already achieved some great milestone in the traditional financial system.

2) Also, There is no use of the crypto currency in real world because it is not much stable as compared to the fiat currencies. The stability is really important for the day to day life use. So these are valid reasons for which I don't think that crypto's will replace the fait so soon.

   

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December 24, 2017, 06:56:07 AM
 #5

I don't think so that cryptocurrencies make physical money disappeared, because cryptocurrencies are only an electronic currency that are enabled through internet access. Which is not available in all places like in the rural areas. Unlike the physical money, which is unnecessary to internet access to pay with.
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December 24, 2017, 06:57:39 AM
 #6

Not all places on earth have Internet, so I don't think this is possible for now. However, it's truly convenient to no longer need to carry cash and physical coins.
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December 24, 2017, 08:26:04 AM
 #7

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?

Nope, they can't, at least at current level of development.
Currently cryptocurrencies are made from nerds to nerds. Unless cryptocurrencies get easiest to use like plastic card, they will remain for geeks.

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December 24, 2017, 08:39:50 AM
 #8

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
Yes it is possible but since most of the cryptocurrencies that already existed out there are decentralized, any government will not allow that to happen because they cannot control it and if they agree to this they will lose their power. The possible scenario is every countries/government will make their own cryptocurrency that will replace their local fiat currency, some countries already have their own coin but replacing fiat may not happen anytime soon and only government can allow that to happen. And also not all people can use cryptocurrencies because they are poor and eliminating fiat will have a bad effects to them.
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December 24, 2017, 08:41:53 AM
 #9

Think a little bit and you'll know the answer, the cryptocurrencies are only here to give you more buying power, but if everyone can be rich so easily , the values of thing will go up and the value of cryptocurrencies won't mean anything anymore

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December 24, 2017, 08:49:02 AM
 #10

In the future i  think so, but a lot of newbies come in just with the idea of making a lot of FIAT money, we still have long way to go.

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December 24, 2017, 09:22:03 AM
 #11

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?

That is only possible after 100 years , but platform should get establish today. Same like Plague vanished from earth and possible some virus left in laboratories. But whole soul it is vanished.

And also " polio " , but the struggle behind it was big , every born got vaccine to eleminate polio from nations.

Same way if schools starts Teaching cryptography , online transactions how to operate wallets and things. Then it is possible we can cover major population and convert them into CryptoWorld.

Right now only business related or Online money makers are aware of it , but still majority is Fiat-Minded-People. They are thinking in USD and comparing BTC with it.

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December 24, 2017, 09:26:25 AM
 #12

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
I think this is very possible though it will take a lot of time and cryptocurrencies is still at the  developmental stage and in years to come maybe 15 to 20 years to come. Bitcoin has been a leading in cryptocurrencies development  and since many adoption has been happening and we have to see this as a sign that cryptocurrencies is going to push fiat money out of our financial systems. Countries central bank are studying cryptocurrencies and either there like it or not adoption is going to happen one day.

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December 24, 2017, 09:37:03 AM
 #13

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?

Others seem so unsure of the capabilities of bitcoin it is disheartening in a way. Of course bitcoin has the possibility to make physical money disappear, however there are many technological barriers that need to be broken in order for every single person currently using physical money to be able to use our beloved coins. At a point in history I'm sure someone had a similar question about gold, or ledgers for that matter; "Do you think Paper money can make gold disappear?"

Ask yourself when the last time you saw people bartering and trading with gold? Knowing this was the standard method of trade worldwide at one point or another and knowing it was replaced should help you answer this question yourself; Paper money, even physical money is not eternal, it is not a law of nature. It is something we use to represent value and most of us agree to just use it, this can change at the drop of a hat the second too many people lose faith in a government, or many, many other factors.

I believe Cryptocurrencies can make physical money disappear once everyone has access to crypotocurrencies for starters, and I sure hope that bitcoin can continue to develop in such a way tat keeps it on top; I would hate to see any other coin be the crypto to do what you're suggesting.

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December 24, 2017, 09:48:30 AM
 #14

I think not in this generation maybe in the future but right now we couldn't really rely too much in crypto currency,
We couldn't pay everything with crypto currency so we still need the Paper money or Fiat.

That's exactly what I want to say, the era of electronic money has not really begun, it's just in its infancy, cash is still the money needed for all of us.



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December 24, 2017, 09:54:06 AM
 #15

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
No physical money cannot cease. Bitcoin or cryptocurrencies in general have a small market cap compared to fiat which is the reason why it's price is so volatile. Fiat is stable and has a large supply that's why it's very important.

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December 24, 2017, 10:02:14 AM
 #16

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
This question has already been repeatedly raised, and the answer is one, while it is beyond the law that it can not. Crypto currency is decentralized, and the national currency on the contrary is the main reason, and volatility is the reason why everyone is afraid to take it to the national level. Yes, and for us it will be bad, because of the tax, she will not go anywhere.

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December 24, 2017, 10:20:40 AM
 #17

Don't jump into conclusions that cryptocurrencies will take over fiat currency. Central banks of some countries are not regulating cryptos, others even banned them. I think the world is not ready for such transition. I'm not saying it is impossible but maybe it will happen in the far future.

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December 24, 2017, 10:57:48 AM
 #18

Cryptocurrencies may not be used in the economy. At the moment, all cryptocurrency is only a speculative asset. The state's economy can only exist with manual control. Fiat was and always will be. Even to spend our bitcoins we will have to exchange them for Fiat. With these actions, we support the Fiat. It turns out the more we have bitcoin the greater the demand for Fiat.

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December 24, 2017, 11:08:20 AM
 #19

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?
Can the world run out of dumbass and stupid people? Sadly, no.  Undecided The answer to your thread should also be the same. Crypto is considered to be more of an investment and less of a currency. Fiat was, is and always be a currency as the first priority, no one invests in fiat, and wait for a few years for the price to go up. But in crypto quite a lot of people do.

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December 24, 2017, 11:13:18 AM
 #20

As we can see the cryptocurrencies are still being established in the knowledge, socialization and full utilization of humanity, could the cryptocurrencies cause the use of physical money to be eliminated, is this possible?

Bitcoin is a beautiful experiment, and maybe it can lead to that, or maybe it can lead to something new that will attempt to do just that. The current fiat system is broken, and banks are not loved by the majority of citizens in the world, so yes, bitcoin could lead to the end of fiat currency. I don't think this will happens in the next few years of course, because most people don't even understand bitcoin, and just care for it's price and investment value, so they will probably just sell it and not use it. Of course that in order for them to use, it still need to evolve a lot more, because of it's scalability problems. It can happen, but only in like 15 years from now or something like that.

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