Can cryptocurrencies make physical money disappear?

[jatin729]

Actually it is possible because here we are talking about cryptocurrencies as a whole term not as a bitcoin, eth or any .
I would like to say that if Govt. wants to make nation more digital than they have to implement crypto technology in the county Means ( create own crypto currency ). as we all know the benefits of crypto over paper money, so people would love to use crypto other than paper money. So It would have impact on paper money.

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[Rajatruck]

Both can coexist at the same time, cash is important just like cryptocurrencies

[keyscore44]

For me it is not possible for near years cause in this case everyone on Earth should have internet connection and possibilities to invest in crypto.

[sopromat]

Of course not, physical money is something that will never disappear, no matter what. No one can make banks or governments disappear just because of a cryptocurrency. Maybe it will change in some time, but not now.

[Baoo]

Absolutely yes, The big problem of physical money (Legal currencies for countries) is the weakest in the value of currency. Moreover, there is always an exploitation of the customers, especially in the  tax who is very huge.
However, the cryptocurrencies are very powerful in the price and the fees are low, and there is a facility in extracting money, In fact, there are many advantages to inflating our money such as, holding and mining and investing. and There are many opportunities to work and earning money.

[heringasem]

Guys, stop saying that the physical money could disappear, because we all know that this is pretty impossible, bitcoin is difficult to controlate right now, but you all know that if there is a little FUD,it can be easily go down, just like it has been happening for more than months.

[AngelSky]

For me it is not possible for near years cause in this case everyone on Earth should have internet connection and possibilities to invest in crypto.

previously thread came for crypto disappear the bank now for physical cash so undoubtedly bitcoin will be the perfect replacement in future years but present time crypto doesn't reach the many people around the world so this it will not works in real world.
Think well when the product or service not reached as expected will not be works well same theory you have to apply here too.

[Sanjida_j3233]

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 but I see many prople doing work in cryptocurrencies line and they will earn physicialy more....

[supercanada1]

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.

Exactly! Though bitcoin is very beneficial and it can us rich in no time but there is no way that we can deny the importance of paper money in this world. This concept of crypto currencies is newly introduced and it will take lot of time in order to make all the people aware of bitcoin. Paper money on the other hand is widely used and is the known by each and every one of us. Paper money will remain in this world and bitcoin cannot make it disappear.

[Kevin77]

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.

Yes, it is a huge milestone that has been achieved, and that would make it seamless switching from the physical way to the digital way. Governments have already introduced the cashless system for a while, and even though some governments are far behind, some are already long gone with it.

Hence, in this way, some will have to just see how they can make the blockchain tech useful for the fiat system. Laos, cryptocurrency usage in the real world will get better, government will try to limit it, but that would not totally erase it.

[BTCeminjas]

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?

Maybe that's not happen, fiat is a big different with crypto currency a traditional currency are being still peoples choice, and crypto currency or digital currency is the modern technology that needs internet connection if you used. Maybe crypto currency is a part of currency but not totally eliminated the real fiat or paper money.
Crypto currency is really helpful to us but to replaced paper money i think it takes a decade before that happen.

[candra raditya]

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 will not go away and will still be used. Physical money is used for direct transactions, such as buying food or small daily needs. It's true krypto money can also be used for small transactions, but it will take time. because crypto money is more suitable for investment.

[Fantastic33]

No. Cryptocurrencies cannot replace fiat money. Physical money is widely used and is already existing for many years and are already stable. Also, it is the only money that is recognized by banks. Crypto is just other currency, a digital currency that can also be used to purchase goods or services, but its not yet accepted by other countries and is NOT recognized by banks as currency.
Other than that, there are lots of cryptocurrencies out there with different prices, and i think its hard to make transactions when the price is not that stable and highly volatile.
Lastly, only few from each country know about crypto, and it will be a very long journey for crypto to be recognized and to be accepted by everyone. And i think the government will not allow it to happen.

[Samj16]

Maybe not now. It will take a long run, it should be regulated by the government and there should be an advance system to make sure there's no flaws in any transaction. As of now not all establishment accept cyrpto though it can be work out.
Physical money is widely used all over the world and for others its much easier to use it as a mode of payment specially for those who's not that much into technology.

[Payapa]

Well, the point of cryptocurrency is to decentralize a currency that's currently in the hands of a state or government, so I think it can't replace physical money, but it's just an alternative if ever that you wouldn't want to have your physical money to be exchanged to another currency. Besides, because of the decentralization, you can use it anywhere in the globe.

[Janation]

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 it is possible. Many country had been legalized for transaction, but many country banned bitcoin to transaction. Where we live we must respect our law

Despite the legalization of bitcoin in some countries, I think physical money or the Fiats, will not disappear. Bitcoin is legendary, that is a given, it is the first digital currency and the most expensive of them all, but that is the only good thing about bitcoin, the transaction time and fees are getting poorer and poorer, also, not all people can adapt that easily with the changes, so I think bitcoin will stay as it is right now.

[Requim]

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 a high possibility that this could happen. I mean technology has been really advanced and I think that innovation has become a necessity to the old mode of payment or the system that we use when it involves money and payment.

[Fundalini]

Cryptocurrencies were not meant to overtake fiat, it was created to be an alternative way of paying. But even if that were the case, cryptos as it is, are still in major development. Not only does it lack publicity, it also has legal concerns in some countries.

[beerlover]

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.

Yeah, obviously not now. We still have some pretty old folks who believe in the traditional way of doing things that they even run away from digital age like plague.

We cannot throw them anywhere and we cannot force them to making use or getting use to the digital world, but for now, they are just living borrowed ages and until some of them pass on, we just have to keep living with the fact that physical money will still be in existence till the next few decades and we will all know eventually anyway because it is going to be a gradual decrease for the usage of physical money.

[raven7886]

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.

Yes, this is something that cannot even be realistic for now, but later in the future, who knows, it can be possible.
A lot of governments are already trying to see how they can integrate the blockchain technology knowing that this is the future, but it would still end up being a centralized one anyway.

No one knows the future, but there is one sure thing about evolution and that is the fact that some things would become outdate after some time and then some will take over.