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Author Topic: Can cryptocurrencies make physical money disappear?  (Read 914 times)
Kittygalore
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May 04, 2018, 06:00:42 PM
 #301

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?

Such a possibility does not appear in the near future, but it can be considered as a fairly probable and normal situation if it is to be examined for a long time. Nowadays, many things are digitizing while the money is being digitized. Moreover, it will not be a different situation to redirect our life with another technology.
It is indeed possible but it is still a long wait and while the bitcoin and other cryptos still have flaws in it and the platform that is in it then we can't make a rush decisions like making cryptos legit currency for all to use. Some may progress with this and some may not, since each country has its own progression rate and some might get slow with this kind of a rule to be made, which is turning crypto into an official currency.

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May 04, 2018, 06:17:35 PM
 #302

At this moment and unlikely, because we need FIAT currency, but bitcoin is conquering its space, helping many people and evolving the world economy, good to be part of this evolution.

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May 04, 2018, 08:43:33 PM
 #303

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?
In my opinion in some conditions this could be happen and in circumstances it could not be happen. Bitcoin is ban in many country like china Bangladesh Ecuador etc.  :oAnd this is happen because it directly affect their country economic and also promote criminal activity in their country. And these reasons shows that cryptocurrencies will never make physical money disappear. Many people love to do online shopping and this thing they doing with Bitcoin because of its lower transaction fee. This thing support this topic in a positive way. Bitcoin is a digital currency so electricity and Internet must need for it. So these two thing not available in every place. So in my opinion it can disappear physical money but not completely  Smiley

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May 04, 2018, 09:43:37 PM
 #304

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 state in the future will be able to switch to the use of non-cash money. For example, Sweden plans to completely switch to non-cash money by 2023. The state with a highly developed economy and a high income level of the population can do it. It will be much more difficult for ordinary economies and is almost impossible for countries with a weak economy. Among non-cash settlements, there can be used crypto currency. Crypto currency can be used only along with national money. It can not be used as the main currency of the country, since in this case it can disbalance the economy of any state because of its high volatility.

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May 04, 2018, 10:06:30 PM
 #305

I think it is impossible. Physical money is the main curencies in the world. Because all the peoples has familiar with them. For digital currencies, not everybody know them, use them for payment system.
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May 04, 2018, 10:13:33 PM
 #306

Physical money will not disappear it will stay because not all people around the world know about cryptocurrency especially those countries who are not yet familiar in using modern and advance technologies and don't even know to use cryptocurrency it will be difficult for them sothey prefer to use physical money.

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