Can cryptocurrencies make physical money disappear?

[H0USE]

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 seems impossible and irrelevant because crypto are still not widely used and not legalized by the governments which hinders its growth and on the other side fiat being legal and widely accepted gain dominance and moreover people completely believes in it as compared to cryptocurrency which have less support due to scams and criminal activities related to it.The prices are also volatile which is a reason for which it is not used by masses.So at current crypto cannot replace physical money because of its huge advantages over it.

[1714626920]

1714626920

[1714626920]

1714626920

[LoudA__]

Definitely not. It will not replace the fiat, when it comes to money it is impossible. It is unfair for the others as well who does not know about bitcoins or the ones who does not know about technology. The unstable of it cannot be a world currency it is limited by some point the value can be go down.

Bitcoin is still volatile and decentralized, even if it was changed or improved, bitcoin will never replace fiat. Bitcoin will stay a digital currency that can only be used as a investment currency in the future.

[soname12]

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 is possible if we are too concerned about the crypto and invest all our money on it then the real money will go away and be replaced in the near future.

[bib24]

There is a big possibility that it might happen in future. It is more convenient to us, but they need to focus on the loopholes before it happen. They need to intensify the security since this is the main issue in digital world and access availability. For now we are satisfied that we have online banking, credit/debit cards, etc.

[1Referee]

Bitcoin will stay a digital currency that can only be used as a investment currency in the future.

That's not a problem at all. I personally barely used any physical money in the last few years. If I think back and try to remember when the last time was that I had physical money in my hands, it's probably six or seven months ago, and that was because my barber was only accepting cash. Now I can pay there with my bank card or my smartphone, I probably won't have to make use of cash anymore. In other words, Bitcoin doesn't need to suffer at all. If I have to believe a report containing data from more than thousand brick and mortar stores, digital payments make up 75% of the sales there, which indicates a massive decline in cash money usage. I am sure that after ten or so years, it will be 90% digital payments and 10% cash money.

[Viscera]

Right now we have Fiat money that we use, in a long term plan Cryptocurrencies will`surpass other currencies.. as we all know that technology is exist and won't go away that easily

[Virtual miner]

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 they can but only when they get support of our governments. Our authorities still look upon cryptos with suspicious eyes. Its obvious as these aim at taking off control from the govt. But if they support cryptos then we can surely think of such a society where people live on crypto spend crypto and earn crypto but there won't ever be one single cryptocurrency over the world.

[uray]

There is a big possibility that it might happen in future. It is more convenient to us, but they need to focus on the loopholes before it happen. They need to intensify the security since this is the main issue in digital world and access availability. For now we are satisfied that we have online banking, credit/debit cards, etc.

Do you really think that every government will switch over to crypto currency as their national currency,i highly doubt that is going to happen and if that happens,it is a scary thought because you do not have any privacy what so ever as everything will be monitored .

[NavySeals]

Definitely not. It will not replace the fiat, when it comes to money it is impossible. It is unfair for the others as well who does not know about bitcoins or the ones who does not know about technology. The unstable of it cannot be a world currency it is limited by some point the value can be go down.

Bitcoin is still volatile and decentralized, even if it was changed or improved, bitcoin will never replace fiat. Bitcoin will stay a digital currency that can only be used as a investment currency in the future.

It's decentralized and it will stay like this. Otherwis, it's not meaningful for us. It doesn't have to be a payment coin. Bitcoin won't replace physical money.

[Kemarit]

There is a big possibility that it might happen in future. It is more convenient to us, but they need to focus on the loopholes before it happen. They need to intensify the security since this is the main issue in digital world and access availability. For now we are satisfied that we have online banking, credit/debit cards, etc.

Do you really understand what you are saying here? What loopholes are you talking about btw? Security? What about it? bitcoin and crypto's are very secure because of the underlying technologies. If you are talking about hacks, its not bitcoin's fault, its those users that don't secure that wallets. We are our own banks if you have bitcoins so its really our responsibility to protect it. I don't know how are satisfied with banks. Its credit my dear, meaning you own them something. That's one way a banks that really put you in debt. But as for cyptos replacing fiat, we can be in a cashless society, but I don't think that we can totally eliminate fiat money. No government will simply allow that to happened. IMHO. It's already a established fact that governments around the world needed fiat in order to survived. Is the only leverage that a nation is holding that keeps its very existence.

[jhonjhon]

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?

Perhaps in the future. There's a possibility but for now I don't think cryptocurrency can replace physical money.

It could be hard for that and only less percentage of possibilities that it will happen since bitcoin or any cryptocurrencies are not totally accepted by some merchants. Aside from that, there is no assurance that bitcoin will become stabilized to make the community give a 100% trust on this.
But I don't see any problem having both digital and fiat money on us, besides it only give us options which one we are preferable to used in a certain transaction.

[GoGodancer]

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?

Not exactly in the near future. For the present the society is not ready for a full transition to electronic currency. And there, maybe in 50 years, physical money may disappear

[princesspoppy]

There's a very low possiblity. First, fiat money is widely known and used as a currency while bitcoin is still making its own to be accepted by all establishment/companies. Second,bitcoin is decentralized and can't be controlled by government that's why government will not allow it to takeover fiat money that they control. And lastly, it would be hard to transact using cryptocurrencies in countries/places without internet connection.

[PG13]

No. Fiat money will still be the recognized money and can not be replace by any type of cryptocurency.
Bitcoin has a  volatile in value which is not good to the economy.

[ipanks]

No. Fiat money will still be the recognized money and can not be replace by any type of cryptocurency.
Bitcoin has a  volatile in value which is not good to the economy.

I don't think cryptocurrency can make physical money disappear because most people only know physical money than cryptocurrency and they prefer to have money. but if there is any chaos in everywhere and makes people don't believe with the government and fiat has a big inflation in every country, then it might give a chance for cryptocurrency to be a new solution for people and they can start to use cryptocurrency as a new money currency.

[gameofthronne]

Nope, people will keep using physical money even cryoticurrencies become popular someday. Some people who don't know about technology will keep using physical money. Why cryptocurrency make physical money disappear though ? both can go along together.

[rudito]

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 could happen crypto money eliminates physical money but not now, physical money for now is needed for offline transactions or small traders. I think it takes a very long time to shift the physical money.

[athanz88]

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?

Well in my opinion, there is a chance that this will happen in the future.
But for me, i really against this chance. Cryptocurrency really depends on a computation and a network power. People need a basic thing for that such as smartphone and internet, to use the bitcoin, but not all people in this world have that basic things.
So the better option in my opiniom is for these 2 currency, fiat and crypto, to get along well in the world.

[sayulita]

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?

Well in my opinion, there is a chance that this will happen in the future.
But for me, i really against this chance. Cryptocurrency really depends on a computation and a network power. People need a basic thing for that such as smartphone and internet, to use the bitcoin, but not all people in this world have that basic things.
So the better option in my opiniom is for these 2 currency, fiat and crypto, to get along well in the world.

No this can never happen.Cryptocurrencies cannot compete with the physical money as physical money is used by all the people of the world.Cryptocurrencies need internet connection to come into use.Cryptocurrencies are not even legalised in any nation.But physical money is internationally accepted and does not require any medium to get used.You can use them anywhere amd anytime.

[Kahoy01]

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 will not happen because it is impossible. Fiat money will never disappear because of the cryptocurrency. Many people will still use fiat money than cryptocurrency because it is easy to use than digital money.