Cryptocurrency

[ahmad21]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Yes it surely can but still a long way until people agree to one currency which can be accepted by everyone just like the physical money. But there is nothing like a legal tender. This is the beauty of blockchain that you don't need it to be legal to use it. Its based on mutual trust itself which is actually giving rise to such a number of currencies.

[radiationaggravated9]

Might happen. who can predict the future of a currency still hanging in beta and full of dark markets?

[sindikat]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Agree, it just will take some time for people to learn about the tech as well so we can simplify the tech for the average person. Once these barriers get knocked down, I see mass adoption on the horizon.

Do you think that bankers will calmly observe how bitcoin takes away their work? I doubt that very much. It seems to me that we are not ready to fight for the right to have a national currency. People don't want to join your efforts. Developers do nothing to reduce the time and cost of transaction confirmation. Miners go against the interests of the entire community to save their profits. Users are ready to exchange the basic principles of cryptocurrencies in exchange for the freedom to exchange cryptocurrencies for Fiat. In such conditions, can you win the fight against bankers?

[gledek]

Perhaps, because now Cryptocurrency is very rife developed by various companies and team engineers in various parts of the world. Even Google Ventures also invests in one of the cryptographic technologies.

[jaysabi]

Digital Money or Cryptocurrency has value for being as valuable as money. Cryptocurrency has the properties of money that is durable, concise, exchangeable, rare, can be shared, and can be recognized based on mathematical formulas rather than based on physical form such as gold and silver or confidence in the center such as paper currency.
Crypto currency is better than currency, but that does not mean Crypto currency can replace the old currency. that bitcoin technology is a technology that can "make money move between countries easier and get costs down  dramatic considerable.
Experts agree that bitcoin will not be dominant, because bitcoins are unstable to become a reliable currency. But there are also countries that have started shifting cash and developing bitcoin.

More important are the properties of fiat that cryptocurrencies don't share: stable store of value and widely accepted for commerce. Without, at a minimum, both of these things, crypto is useless as a currency. Without a stable store of value, you can't save or plan for the long term or have a reasonable idea past the immediate present as to how much value you're holding in the currency, which creates economic chaos. Without being widely accepted, it's as useful as trying to pay with your Diner's Club card. People know it's a thing and that it represents money, but nobody will take it as a payment method.

[qwerty12]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Cryptocurrency such as bitcoin is now rife and has increased in the international world, but I think, cryptocurrency like Bitcoin will not completely replace the conventional currency, it's just that bitcoin will be one of the alternative currencies.

[South Park]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Yes it surely can but still a long way until people agree to one currency which can be accepted by everyone just like the physical money. But there is nothing like a legal tender. This is the beauty of blockchain that you don't need it to be legal to use it. Its based on mutual trust itself which is actually giving rise to such a number of currencies.

Yes if bitcoin needed to be recognized by the government in order to work then governments will never give that approval and everything will be fine for them, but it is precisely because bitcoin does not need that the reason because bitcoin is dangerous for them a country could make bitcoin holding illegal and many will not care since they will need to be caught by their government dealing with bitcoin and most small governments do not have the tools to do that.

[kimochidesh]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Can't say at this stage. Bitcoin growing popularity and users positive response has to lead us to this discussion of making BTC as a global currency. But we need to understand the complexity of this process like:
1. Govt. stand on BTC legality: Not all countries have declared BTC as a legal mode of payment. Some may consider BTC as an asset, commodity, good etc.
2. High transaction fees of Bitcoin
3. Long confirmation hours and many more

[Ann Impas]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

It could be, it just needs a process that is not easy.
At this time alone crypto has been banned in some countries, whatever the government wants. In fact, crypto can help countries in trouble.
This requires regulation from around the world if it wants crypto to be a legitimate means of exchange.

I agree with you, I think it could and just need a thorough process which will be a BIG task for the Government in order to be properly put it in place. I do believe that time will come, digital currency will play a major role in our economy.

[Mainman08]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

It can be. If all country will unite and regulate bitcoin. And make it safer for evrery users investors traders and holders of bitcoin. And give a high penalty on bitcoin violators.

[0t3p0t]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

It can only be a territorial or nationwide  means of of exchange but when we talk about universal that is pretty far from reality. It could also be a universal form of digital currency but not like the physical money because it is decentralized and governments hate it when they don't have the full control of the economy or country's assets. Some countries don't like crypto that is why it cannot be a universal legal tender and another reason is it's volatility and fees.

[yslyv]

Nowadays cryptocurrencies are being used only for investment and fund raising purposes but i am sure that they are going to be an alternative to cash money soon. There will be a total of three options for shopping payments. cash, creditcards, cryptomoney...

[South Park]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Agree, it just will take some time for people to learn about the tech as well so we can simplify the tech for the average person. Once these barriers get knocked down, I see mass adoption on the horizon.

Do you think that bankers will calmly observe how bitcoin takes away their work? I doubt that very much. It seems to me that we are not ready to fight for the right to have a national currency. People don't want to join your efforts. Developers do nothing to reduce the time and cost of transaction confirmation. Miners go against the interests of the entire community to save their profits. Users are ready to exchange the basic principles of cryptocurrencies in exchange for the freedom to exchange cryptocurrencies for Fiat. In such conditions, can you win the fight against bankers?

The scenario is not as bad as you make it out to be, the developers are doing everything they can to improve the speed of transactions but it is something that it will take time since thy are not going to release something that is  not ready if they did they will put the holdings of everyone in danger also there are many users that will never sacrifice the ideals of bitcoin to make it easier to exchange their money for fiat.

[MIZANUR5033]

This is not going to be. This is just a currency which is using in online by only crypto coins. There are some country which has banned the coins which are related to this system so that it can not be used at these place.

Currency will keep relation with all nation but this currency cannot beat there so that it can not be a part. People use these coins only for getting profit and only some people use it for transferring money but it is very rare.
You can get profit from this system if you can follow all rules but don’t think that it can be a legal currency system because it is almost impossible.

[Gameroid]

Nowadays cryptocurrencies are being used only for investment and fund raising purposes but i am sure that they are going to be an alternative to cash money soon. There will be a total of three options for shopping payments. cash, creditcards, cryptomoney...

But in some places people are now already using bitcoin for  so many other purposes. They not only using bitcoin for shopping online but also in some places people have the opportunity to use bitcoin in their local shops for shopping, they are using bitcoin even in hotel and in so many other places for different purposes.

[@minajeryll]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

It is possible, as we can see some other countries welcomed cryptocurrencies. To become it universal, just like what I said only some other countries didn't banned crypto like bitcoin and that is the problem. Everyone should unite first in terms of this aspect.

[seven2smoke1]

Nowadays cryptocurrencies are being used only for investment and fund raising purposes but i am sure that they are going to be an alternative to cash money soon. There will be a total of three options for shopping payments. cash, creditcards, cryptomoney...

That's true, This technology of paying using digital money it developed too much in the last few years, There is a lot of people use cryptocurrencies today for different purpose, one of them, is an investment. I think there is a high percent of people who use cryptocurrencies for investment, because they feel that bitcoin price will increase too much in the future, so they take the opportunity to buy more when bitcoin price drop.

[Xenoph0bia]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

It is possible, as we can see some other countries welcomed cryptocurrencies. To become it universal, just like what I said only some other countries didn't banned crypto like bitcoin and that is the problem. Everyone should unite first in terms of this aspect.

These are getting very popular as this is a time of digitisation and cryptocurrencies are in demand.These are very easy to operate and just require an internet connection.You can carry as much as money in the form of cryptocurrencies.You just need to have a wallet in which you can store these virtual currencies. Cryptocurrencies are an easy way to earn money and that too in a short period of time.Investment in these cryptocurrencies is also very profitable and gives a huge amount of profit margin.

[Bezobraznike]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

It is possible, as we can see some other countries welcomed cryptocurrencies. To become it universal, just like what I said only some other countries didn't banned crypto like bitcoin and that is the problem. Everyone should unite first in terms of this aspect.

These are getting very popular as this is a time of digitisation and cryptocurrencies are in demand.These are very easy to operate and just require an internet connection.You can carry as much as money in the form of cryptocurrencies.You just need to have a wallet in which you can store these virtual currencies. Cryptocurrencies are an easy way to earn money and that too in a short period of time.Investment in these cryptocurrencies is also very profitable and gives a huge amount of profit margin.

   Tosin12 crypto-currencies are already universal means of exchanges! They are
already legal in some countries, in future it will be legal globally!
   @minajeryll that is more then possibility in my opinion. I except that to happen
in some countries slower then others, but spreading will be finished once when
crypto-currencies are legal in every country. World will unite one day under one
flag.
   Xenoph0bia you talk about facts. Crypto-currencies are getting very popular, they
are easy to handle and use for anything, you store them as you like, you do not need
banks or some other services. They are profitable for people who joined I'm early stages,
I think we, people on this forum, are one of this people, we have a chance, will we use it?

[kissme09]

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

In the future, if the world government accepted cryptocurrency, it would be a major turning point. Cryptocurrency accepted as a form of payment that can cause paper money to disappear and banks may end.