Cryptocurrency

[jaredl]

Yes I do think that cryptocurrencies can exist alongside with state-back currencies (fiat or crypto) and that one day we will be able to use cryptocurrencies together with our own countries' cryptocurrencies (crypto-USD, crypto-Pound, crypto-Yen etc) but this can only happen if there is a means for govt to monitor and control the flow of these currencies.

If there is proper KYC and accounting of cryptocurrencies such that govt can know where you gotten your BTC or ETH, then I think they will allow these currencies to exist alongside their own currencies.

Else the foreseeable future of crypto is an asset class much like gold or commodity.

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[turagsoy123456]

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

I say Yes, But i tooks along time and the process to accept cryptocurrency become universal means of exchange or global legal tender like physical money. Because not all people leaving in different country's really don't know what is cryptocurrencies, How it will  works and what is all about.

[shi07]

Maybe in the future, because cryptocurrency needs to be legalized first for a country to be acknowledge it as a legal tender. A government cannot rely on a currency with unstable value so it really needs to have a standard and regulation first to be utilized.

[Edraket31]

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

I say Yes, But i tooks along time and the process to accept cryptocurrency become universal means of exchange or global legal tender like physical money. Because not all people leaving in different country's really don't know what is cryptocurrencies, How it will  works and what is all about.

It will not happen as a universal but it can use as a universal mode of payment but not totally, it can only use as an alternative way. So for me, cryptocurrency should loved and accepted as this will truly change the world.

[South Park]

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

Bitcoin will never become a global legal tender, but do not get discouraged you can already use bitcoin all over the world despite that in many countries bitcoin is not even a currency, that is the great thing about bitcoin we do not need permission from anyone to use it so even if bitcoin never gets recognized as legal tender we can use it as such, what we really need is not permission by governments but adoption.

[millenniumcoin]

Yes! Cryptocurrency may not be a world accepted currency because is an Internet base currency and many people,especially in the developing countries may not get the required computer knowledge to used bitcoin and other cryptos online. Also, it has central control like the fiat money.

[gabmen]

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

Bitcoin will never become a global legal tender, but do not get discouraged you can already use bitcoin all over the world despite that in many countries bitcoin is not even a currency, that is the great thing about bitcoin we do not need permission from anyone to use it so even if bitcoin never gets recognized as legal tender we can use it as such, what we really need is not permission by governments but adoption.

Well one thing is we can never know if it can be used for worldwide exchange. You're right about the fact that it's already being used now in many ways but there may come a time, when all the regulations are laid out and most countries see the good in bitcoin, when it will overtake fiat as the main currency available. Again we'll never know

[Dragon5]

Everything depends on governments. In Swidzerland in Zug friendliness to crypto-currencies is in evidence all around. A city hall and several shops including wine merchant's accept bitcoin, as well as some public services. Residents can even get the blockchain-based digital identity.

[scaramanga1337]

cryptocurrency is more than a currency or an asset .. ...an even bigger advance is the fact that the development in cryptocurrency space leads to the internet 3.0 .....thats a huge progress

[malikusama]

It is possible if whole world understand the importance of cryptos, still now there is a huge conflict between government, banks and crypto users.
Many community members are against the regulation of cryptos but i believe that it is the most feasible solution because of it cryptos will widely began to use across the countries in shops, retailers or restaurants etc.

[FrueGreads]

How can it be?
Why would any country accept a totally global digital currency as legal tender in their country?
A currency with open source coding and not controlled by anyone,
A currency which can be forked by anyone at any time.
The answer my friend is no.

Why are you saying that. Bitcoin as already accepted as legal tender in Japan, and Venezuela is already doing the same right now. We also have some states that are trying to allow it's citizens to pay their taxes with bitcoin, although I think it will still be seen as property there, but I'm not sure about that one. It all depends on how regulation gets done, but it will perfectly normal for that to happen in the future. I don't see bitcoin replacing fiat, but being accepted as legal tender is possible, and it is already happening.

[Bitcoinjheta]

How can it be?
Why would any country accept a totally global digital currency as legal tender in their country?
A currency with open source coding and not controlled by anyone,
A currency which can be forked by anyone at any time.
The answer my friend is no.

Why are you saying that. Bitcoin as already accepted as legal tender in Japan, and Venezuela is already doing the same right now. We also have some states that are trying to allow it's citizens to pay their taxes with bitcoin, although I think it will still be seen as property there, but I'm not sure about that one. It all depends on how regulation gets done, but it will perfectly normal for that to happen in the future. I don't see bitcoin replacing fiat, but being accepted as legal tender is possible, and it is already happening.

Well, as universal means of exchanging few countries have declaring there legality between digital currency and the national currency of a country. But as of a second currency only allows the digital money. Some countries also have studying what was the impact for the country if they digital currency has legally accepted that was the government undecidedly to accept as of now.
 

[BronxCats]

I don't think so. Maybe if there was only one coin, with no body being able to copy paste new coins. But that's not the case.

[faceoff97]

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

With or without the recognition of anyone, bitcoon users are free to transact even for international transaction. Bitcoib are now actually use  in buying goof and services, this allows bitcoin to necome an universal means of exchange even though not recognized as it is. Bitcoin have grown really fast, more and more are now accepting and adapting it. Bitcoin is now becoming more than a form of payment and more like an asset that would rather be choise to hold than to spend.

[UsernameBitcoin]

cryptocurrency is more than a currency or an asset .. ...an even bigger advance is the fact that the development in cryptocurrency space leads to the internet 3.0 .....thats a huge progress

I agree mostly. I wouldn't call it internet 3.0 though, although it's comparable.

I think Email 2.0 would be better. Peer to peer money, no need for a third party. It can't host millions of websites and institutions though.

[Santachigo]

Cryptocurrency is used much faster than cash.
Cryptocurrency is absolute security and absolute anonymity.
Transaction costs of cryptocurrency are much lower than bank transaction fees.
With cryptocurrency you can carry huge amounts of money everywhere by remembering the username and password of your website hosting coin.

[zolfa]

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

could happen, but it would be very difficult to realize, because each country already has its own money that is used as a means of payment and is bound by law. need a very mature planning to be able to realize it so that later will not cause turmoil in the economy in every country

[MD Milon]

Cyptocurrency is a digital currency.its a virtual currency.its one kind of payment of online.transaction cost of cyptocurrency are low.cyptocurrency are totally secure system.

[paul00]

Yes I think it is possible for bitcoin to become a physical money and mode of exchange. However, this idea would still be a long run for bitcoin since as of now bitcoin is continuosly banned by other countries and if this will become a legal tender, government will still have to review and learn more about bitcoin and pass a bill for a regulation to be accepted by all people and all country as well.

[Joyceshiroor]

cryptocurrency digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank