Can cryptocurrencies make physical money disappear?

[luislane8]

They cant make the current currencies disappear at least for the next 30 years. The only thing they can do for now is introducing alternative payments by cryptocurrencies along with real money.

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[Scavagers]

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?

we know cryptocurrency is becoming part of our society, it is getting popular and many people are using it now. The idea of replacing paper money or fiat by digital cryptocurrency is not possible in my opinion. Cryptocurrency has a negative sides that will not be fair to people. Cryptocurrency relies on the use of technology specifically the internet.As of now, there are still places that do not have internet connection if paper money was replaced,they can not use cryptocurrency as well as those who not rely much on technology. Another reason is some countries see cryptocurrency as a threat to the economy so they are banning it. In China,bitcoin has been banned because their central bank does not have the power to control cryptocurrency.

[dewi91]

I am not sure.. so difficult to crypto currency can replace phisical money, everyone in the world use fiat but not all the people can use and accept crypto currency.. everybody know using fiat of course easier than using a digital currency..

[Harlot]

I don't think so and is there really a need to do so? I mean what will we benefit if Fiat Currency does not exist anymore? When you look at it we are already living in a world were we can pay without using any cash anymore even before cryptocurrency existed payment methods such as Credit Cards and Paypal made is possible. Fiat currency is still there because all of the payment methods we are using are always based on Fiat Currency.

[shezu007]

I don't think so and is there really a need to do so? I mean what will we benefit if Fiat Currency does not exist anymore? When you look at it we are already living in a world were we can pay without using any cash anymore even before cryptocurrency existed payment methods such as Credit Cards and Paypal made is possible. Fiat currency is still there because all of the payment methods we are using are always based on Fiat Currency.

Never it will possible that physical money will disappear but yea its true that value of physical money will decrease as compare to now because world is developing very fast and electronic money is easy to used and also process is very fast while electronic money is more secure to physical money. so more people will want to use digital money as compare to physical money.

[BillCoin]

I think that it's going to happen sometime, but not the cryptocurrencies are going to be those who killed the cash money.

Countries want to control the money, they want to have the ability to print cash anytime they want.

They want to have the ability to track citizens accounts, and bitcoin and other virtual currencies make it impossible.

I can guess that countries may try to invent their own cryptocurrency and it could destroy the physical cash.

[HiringYou]

No doubt now days cryptocurrencies especially Bitcoin are gaining a lot of popularity but I personally don't think that they will be able to make physical money disappear.This is because physical money still over power cryptocurrencies in many ways.It has a physical form and can be used directly in any store.It does not require any internet connection.People are using physical money from many years and they have a lot of trust on it and it is difficult for any cryptocurrency to gain that amount of trust .Moreover government is not able to control the transactions made through Bitcoin .So government will not allow any such currency over which they have no control to over power physical money.These are the reasons why I think that cryptocurrencies will not be able to make physical money disappear.

[criz2fer]

I don't think so and is there really a need to do so? I mean what will we benefit if Fiat Currency does not exist anymore? When you look at it we are already living in a world were we can pay without using any cash anymore even before cryptocurrency existed payment methods such as Credit Cards and Paypal made is possible. Fiat currency is still there because all of the payment methods we are using are always based on Fiat Currency.

Never it will possible that physical money will disappear but yea its true that value of physical money will decrease as compare to now because world is developing very fast and electronic money is easy to used and also process is very fast while electronic money is more secure to physical money. so more people will want to use digital money as compare to physical money.

It will depend on the accessibility of the place specially with areas that don't have internet and a very remote areas like provinces that usually use physical money to buy they common necessities. Although, electronically transfer or paying with bitcoin is very convenient, it also has its limitations.

[cryptojac17]

No doubt now days cryptocurrencies especially Bitcoin are gaining a lot of popularity but I personally don't think that they will be able to make physical money disappear.This is because physical money still over power cryptocurrencies in many ways.It has a physical form and can be used directly in any store.It does not require any internet connection.People are using physical money from many years and they have a lot of trust on it and it is difficult for any cryptocurrency to gain that amount of trust .Moreover government is not able to control the transactions made through Bitcoin .So government will not allow any such currency over which they have no control to over power physical money.These are the reasons why I think that cryptocurrencies will not be able to make physical money disappear.

Physical money in our time maybe not totally disappear because the system is yet ready for digital currency the banking system, the govenment arround the world and the perception of the people of the physical money but because of digital world and the young generation are into it because of versatality of digital currency I think would be the treat of eradication of Fiat money because their perception will be different they will percieve things that is virtual rather than physical.

 

[madwica]

Fiat or physical money will remain usable even digital currency will spread out the popularization all over the world because physical money is much needed for daily expenses that is one of disadvantage of decentralized currency, also not all people can used bitcoin due to main requirements like gadgets and internet connection which not all individuals can provide that.

[worle1bm]

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?

Its not easy to use crypto at the current time because its not legal so we cant use it everywhere and does not have wide use.Paper money on the other side is used from past and has build faith on people's mind so replacing it is not an easy task and is impossible at current because of its large advantages to masses and its legality.

[Kidmat]

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?

Its not easy to use crypto at the current time because its not legal so we cant use it everywhere and does not have wide use.Paper money on the other side is used from past and has build faith on people's mind so replacing it is not an easy task and is impossible at current because of its large advantages to masses and its legality.

As we have noticed these days crypto is becoming popular but we cannot say physical money may disappear. There are things that necessary to addressed like in the government and to all citizens. As we know there are more citizen doesnt knows about this crypto and its hard to disappeared the physical money.

[android17]

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?

Actually not only cryptocurrency but digital money in general. I believe that there is a possibility that it will eliminate physical money in the future given that the continuous advancement of technology makes everything more accessible. However, we must consider all the possible problems that we may encounter regarding  this changes.

[Usafstar]

I think that the bitcoin use will be high in the market the circulation will be high as compared to the other currencies so from this the use of physical money will be slow in the future and the most bigger transaction will take place due to bitcoin and other crypto currency. So we can say that the crypto currency will affect the physical money but it is not true that the cryptos will disappear the physical money fully. The world with out physical money will not perform the daily operation easily and smoothly. For this we can say the the crypto money is very much important for us in the future.

[alexsandria]

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. I think that bitcoin is somehow not so strong that can make or able to make physical money disappears. And we all know that bitcoin is money we used digitally so it means that bitcoin is somehow technology type of money and not like the physical money. So I think they will not even make disappear each other.

[changcloy]

no,cryptocurrencies will not make the physical money disappear governments fromeach other countries will not allow it for sure...physicaly been used for how many centuries and it's has own value,physical money and cryptocurrencies has their own worth in the world economy.

[Farma]

of course not, it will only make some problems if the government tries to physically bully with bitcoin. well, a have their own currency. while bitcoin has become an investment tool and international currency on the internet. many problems occur if bitcoin tries to be a legal transaction tool in a country.

[MainIbem]

Fiat money or physical money will not disappear. Cryptocurrency and physical money play different roles. Cryptocurrency facilitate P2P payments seamlessly but physical money ease across the counter. Physical money is more trusted by many as against cryptocurrency which is virtual.

[jackky]

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 do not think crypto will make paper money disappear for a variety of reasons but I am confident that crypto will not do this. Paper money is always the global payment accepted by the world.

[gunungkembar]

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?

obviously of course could be because paper currency or can be called a currency that has physical value is not very efficient if in use for the future, we must develop a currency that is digital and does not need physical.