Can cryptocurrencies make physical money disappear?

[Yakult]

physical money will never disappear as I believe. Because through physical money, national banks can easily manage the economy. Besides, money is needed when it comes to small business. This might happen somewhere far in the future when physical money won't be necessary anymore.

[EvaGC]

I don't think this will happen for a long, long time.

I think they will start coexisting in the near future and this mix will last a long time.

[chrmn27]

The possibility of this to happen is so slim. Well, I am not removing the possibility that it will happen but I guess, this can be after hundreds of years.

[Naoko]

physical money will never disappear as I believe. Because through physical money, national banks can easily manage the economy. Besides, money is needed when it comes to small business. This might happen somewhere far in the future when physical money won't be necessary anymore.

I completely agree...the cryptocurrency can't yet be used in everyday life and the state doesn't regulate it...so money can't disappear

[boyshx]

Paper money/fiat currency or physical money is in circulation for more that 100 years. Many new tools of exchange and investments introduced in these years but status of physical money is intact. It is intact because of its features. Almost all countries of the world have their own currency. Physical currencies are easy to operate, easy to circulate/exchange. They have universal acceptability. Requires no time in settlement of trade and no exchange charges. So disappearance of physical money because of cryptocurrencies is almost impossible thing in near future.

[Westefan]

In the next five years, crypto-currencies will not exactly dislodge fiat money. It's still too early. I presume that when countries create national crypto-currencies such an outcome is quite acceptable with time.

[balakang00]

I think it would not be possible because it will be hard to manage money that is not in your hand. Also, there will always be a need of internet or a software before the money would be reached and i think that would be hard.

[Wong Gendheng]

Cryptocurrency and fiat money are different things, I'm sure that whatever bitcoin price will not make fiat money disappear so the country does not have to worry about the development of bitcoin and cryptocurrency.

[katiecbell]

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 or other cryptocurrencies is an alternative method where we can use as a payment system for purchasing online or use it like a credit/ debit card, but the only difference is it is stored in a special digital wallet that is installed in a mobile device. Yes, now it is a modern way of spending and keeping money but it is still important for us to have physical money in our pocket for we cannot use bitcoin transactions without using internet connection. For me, physical money is very important on our daily living and that it is impossible to disappear. I think the best way is to have it both exist.

When you will completely enjoy the features if bitcoin you will get bored of physical money and those who are already in bitcoin they are demanding the currency use if bitcoin so that they can shop from anywhere in world by sitting at home and physical money has a lot of limitation every currency is confined to some regions where as bitcoin is versatile and is now accepted all over the world and there is no constraint in btc system.

[ufalo3]

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?

of course not crypto currency supports also the physical money, because without physical money how can we exchange our crypto into our money right how can we spend it right away  without that hassle transactions we need physical money while we have the cryptocurrency.

It is possible that cryptocurrency will replace physical money. But I do not think that this will happen in the near future. Now they move in parallel.

[Trimegistus]

When you will completely enjoy the features if bitcoin you will get bored of physical money and those who are already in bitcoin they are demanding the currency use if bitcoin so that they can shop from anywhere in world by sitting at home and physical money has a lot of limitation every currency is confined to some regions where as bitcoin is versatile and is now accepted all over the world and there is no constraint in btc system.

Get bored of fiat money? That's a great joke!

As long we live in this world regulated by and oil based economy, fiat will rule undisputed.

Let's be honest, all of us here want to succeed as investors because sooner or later we want to cash out our profits and spend them things we cannot buy directly with crypto.

Actually, only a tiny portion of daily used items can be purchased directly with BTC (not with crypto, only BTC).

Macro economics between nations will rely on fiat forever, unless we find a way to generate free energy, free food, free everything.

Crypto can only replace fiat in an ideal world, not in the real world.

[gantez]

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.

The angle I'm also looking at the impossibility is not even on payments with cryptocurrencies but its accessibility because it is internet based. To acquire or dispense cryptocurrencies, one has to be internet compliant - therein lies the issue. Money is legal tender that should be accepted and recognized by the locals but cryptos have not got such status.

[MuffinMaster]

It could but it couldn't happen until like 2030 cause everyone in world (i mean whole population) should have internet connection to just check and manage their "money".

[Shamburis]

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 is not possible to eliminate our physical money, cryptocurrencies are useful i know and using it online, but it won't disappear our physical money and in any other countries and most all central bank won't let disappear our physical money.

[drachman]

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 so, in my opinion what it is going to make money disappear is the way governments and banks have abused the power given to them by the people and that power is going to be taken away from them, they are going to try to avoid that but they are going to fail.

[Future3000]

I already have seen a project for legal crypto business. It's like a usual free economic zone but for blockchain. If it succeed, I think we don't need FIATs in the nearest future. Freezone, if someone is interested.
Let's see which will be the first country to accept such a zone.

[Vikingr]

it cant be happend. a lot of people dont know about bitcoin, and they still use regular money until now. if it change to cryptocurrencies, they will not use it (crypto) and maybe be poorman. except is there much of people who know about bitcoin and share the knowledge about bitcoin to them. and the problem, who want do that?

Yes that is not going to be so easy i think. Fiat currency is the need of the day and all round the world people still using fiat currency, while very few people may be using bitcoin or any other altcoin as optional. In fact still majority of people do not know about bitcoin and those people who know about it they do not have the opportunity to use bitcoin for purchasing everything. Therefore i think fiat currency will survive for a long long time.

Your right. It's hard to do. Mostly of the people are not aware that bitcoin is really exist. Specially here in my country. Not all the people here knows about bitcoin. They don't have any idea what benefit they can get in bitcoin. Also some governments didn't recognize bitcoin as a currency so it will be more difficult.

Bitcoin is most popular digital currency of the world. More and more people enter in the world of Bitcoin. And it is not possible that Bitcoin replace flat money but it can be help people to minimize the use of it. Mostly in those countries where the people are fond of latest technologies they definitely want to work with Bitcoin. And this time is not far away when people use their Bitcoin in every type of transaction and made their life more comfort and convenient.

[Trimegistus]

it cant be happend. a lot of people dont know about bitcoin, and they still use regular money until now. if it change to cryptocurrencies, they will not use it (crypto) and maybe be poorman. except is there much of people who know about bitcoin and share the knowledge about bitcoin to them. and the problem, who want do that?

Yes that is not going to be so easy i think. Fiat currency is the need of the day and all round the world people still using fiat currency, while very few people may be using bitcoin or any other altcoin as optional. In fact still majority of people do not know about bitcoin and those people who know about it they do not have the opportunity to use bitcoin for purchasing everything. Therefore i think fiat currency will survive for a long long time.

Your right. It's hard to do. Mostly of the people are not aware that bitcoin is really exist. Specially here in my country. Not all the people here knows about bitcoin. They don't have any idea what benefit they can get in bitcoin. Also some governments didn't recognize bitcoin as a currency so it will be more difficult.

Bitcoin is most popular digital currency of the world. More and more people enter in the world of Bitcoin. And it is not possible that Bitcoin replace flat money but it can be help people to minimize the use of it. Mostly in those countries where the people are fond of latest technologies they definitely want to work with Bitcoin. And this time is not far away when people use their Bitcoin in every type of transaction and made their life more comfort and convenient.

We are very far from that, and I'm not sure if we'll get there. For now, only a few are willing to receive a  salary in BTC because of the volatility. For many years to come it will be completely impossible to live without purchasing food, clothes, etc with fiat money.

[wiskermantarayg]

Yes it could be if people are prefering using cryptocurrecies in method payment that cash. It will create a cassless society.

[The Alchemlst]

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 not, I mean cryptocurrencies doesn't even need to replace physical money because it is made for transactions via online and they are very efficient in that manner.  Cryptocurrencies would be more acceptable in no time and people might not even use most of the physical money if online transactions become a primary method but I doubt physical money to be totally replaced.