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Author Topic: Can cryptocurrencies make physical money disappear?  (Read 914 times)
sucix
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December 24, 2017, 11:17:32 AM
 #21

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.

I could not see any of this altcoin include bitcoin can be used to replace the fiat money job as payment system. Most crypto currency built as new payment system but most of them failed to do their job. Now they become investment not a currency.

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December 24, 2017, 11:24:50 AM
 #22

Cryptocurrencies are not common to most people in the world. Although credit cards and paying by phone are upcoming, most people prefer paying in cash. Especially in third world countries, that is technology they can only dream of. Even in the richest countries cryptocurrencies cannot replace cash, that would take years.

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December 24, 2017, 11:52:00 AM
 #23

There's have a posibility that physical money will disappear soon. Becuase we are living in modernasation that all of things will change, we all know that some people will discover other things that can easily use in our daily life.
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December 24, 2017, 11:59:26 AM
 #24

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 believe that it won't. Manybpeople are intonreal estate investment which functions with the use of fiat system or with regular currencies. So it also means that even in the future, physical money will be still used because there are still people whonprefer regular moneybthan digital ones. But let's just see it for ourselves.

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December 24, 2017, 12:04:37 PM
 #25

Maybe biycoin can remove physical money. But i think thre's have a 10 percent if that happen. Physical money is our traditional and uaed in a long decade. So i think they do not essily remove physical money.
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December 24, 2017, 01:25:13 PM
 #26

Bitcoin is a good assets that can make one wealth if properly invested in.
But I doubt it if it can become a physically currency.
Every currency has it purpose, and the purpose of bitcoin or other altcoins is to be a digital currency and not a fiat.
What can make physical currency disappear is when cryptocurrencies is accepted all over the whole world just like dollar.
And I don't think that will be possible.
Bitcoin is better off as an assets.

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December 24, 2017, 02:10:01 PM
 #27

Maybe biycoin can remove physical money. But i think thre's have a 10 percent if that happen. Physical money is our traditional and uaed in a long decade. So i think they do not essily remove physical money.
Yes, you’re right. It's really difficult to totally removed the traditional currency in our system of money. It’s been around many decades that we are used the traditional currency as a payment. We still needed physical money in order to buy things doesn't accept bitcoin and we need to convert it first. Bitcoin could help to improve our payment system and less fees transaction. We’re still in the generation that bitcoin is only starting we can’t tell what will happen next but still I believe bitcoin will give a huge impact not only for today but also for the future.

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December 24, 2017, 02:41:42 PM
 #28

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?

Only the national government (World government) can realize. I don't think that's going to be possible. Because, physical money are the national pride of every country and physical money the only safe asset.

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December 24, 2017, 02:47:03 PM
 #29

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?


On my opinion, I guess crypto currency can't replace real money, it's a lot way different to a physical money, it will take long time to replace it. Believe me, we can earn to any type of cryptocurrencies but, real money is a different deal.
betMaster
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December 24, 2017, 03:02:27 PM
 #30

Well i'm gonna answer your question with another one , can you make all people around the world have access to computers and internet ??
Probably not since such tools are imperative in order to be aware or in use of the cryptocurrencies , without them everything that implicates cryptos is null and void and therefore physical money so called fiat won't be disappearing since there are billions of people who either don't have internet access or aren't having enough education/informations about such technology ,or worse if they don't even know about it's existence . Those people will always use/trust fiat currencies that doesn't endanger their ecosystem and therefore fiat won't ever disappear .
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December 24, 2017, 03:06:13 PM
 #31

I don't think so. Cryptocurrencies and fiat needs each other for them to exist since they support one another somehow. If we solely have cryptocurrency, complications are bound to occur since a lot of people are not aware of its structure and its usage. It's accessibility is one thing to consider since this can be accessed online or virtually, where I think most people does not have advantage of. Despite its flexibility, the physicality of fiat allows transactions to be done better and easier which I think is what makes it more preferable. Overall, they have to really coexist since they establish a balance for the preferrability.
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December 24, 2017, 03:10:10 PM
 #32

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 believe it won't. For me, Cryptocurrencies can't replace real money. There are lots of consideration if that would happen. The government and other concern agencies would need to consider every citizen in our country. Basically, there were people that cannot afford to access and own bitcoin.

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December 24, 2017, 03:10:50 PM
 #33

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?

It's possible, I don't know if that will mean the end of FIAT all together or cryptocurrencies being considered FIAT, but cryptocurrencies can pave the way for traditional currencies to move even further towards complete digitalization. It is already happening with time, less and less people use cash each day.

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December 24, 2017, 03:11:16 PM
 #34

The bigger most challenge in accepting cryptocurrency by each and every person is technology as everyone aware that it is not possible to access internet by all people and all places due to that reason it is not possible to make physical money to disappear. But the usage can be reduced drastically by cryptocurrency.

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December 24, 2017, 03:12:35 PM
 #35

As much as I love the cryptocurrencies and I'm one loyal supporter to some of these altcoins, I don't think these cryptocurrencies can make physical money disappear. It's hard to make physical money disappear because these have been established long enough that it's not easy to outdo them.

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December 24, 2017, 04:05:40 PM
 #36

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?
It might be possible if the regulatory authorities gives the permission to do so. Or may be the central bank starts accepting the way crypto currencies work. Um, well don't think this will happen at all or there even single % chance that these people do any amendment over this. They won't because it will kill their profits and working of nature. They will never want that to happen at all. So the more or less full utilisation of the humanity would be asking them to pay more and more charges for the transactions we make everyday. So believe me its their own benefit and there is no going down of the fiat currency over the digital currency like crypto's.

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December 24, 2017, 04:13:07 PM
 #37

No , Cryptocurrencies cannot  make physical money to disappear. This is because the use of computer by all is not yet achieved, also the availability of internet is not yet assured, and the knowledge about cryptocurrencies has not achieved 100% global awareness.Other factors like the Government interest ,Banks , cost of bitcoins and its affordability are all factors that must seen to be at its best . Even then cryptocurrencies can never make  physical money to disappear.

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December 24, 2017, 04:24:06 PM
 #38

The only thing that will kill the FIAT is government and there hand.  Crypto currency will never wipe out or remove the need for FIAT currency.

In time the banks will kill themselves when they realize that there will be no government bail out 2nd time round the world may become a very unstable place.
For this reason we need to make sure bitcoin and altcoins are up to the job and scalable because if they are not something else will take there place.

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December 24, 2017, 04:29:33 PM
 #39

The short awnser is no.
Blockchain as is cannot be the back of cryptocurrencies in order for that to happen. It is just not energy efficient enough and currently also quite slow.

Sadly I think if cryptocurrencies would actually overtake physical money that goverments will create their own cryptocurrencies which are therefore not subject to the freemarket and take away control of your money. They could restirct you from buying certain things on certain sites or send your money to certain country. It would even be possible to corrupt the blockchain record.
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December 24, 2017, 04:30:14 PM
 #40

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?

The government always had a plan, and that was to get rid of physical cash. With digital technology, they would be able to trace and profile everyone. Once physical cash is removed, open source cryptography is the only hope for having any sort of financial freedom. If open source cryptography fails to deliver on this promise, it's game over, you will not be able to escape the Orwellian level control at any degree. Interesting times to live in indeed. We'll see how this develops.
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