Cryptocurrency

[charlotte04]

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

Yes, maybe it will be the only thing that people will use in the future. As we see, we all now use computers.

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[Ridwan Fauzi]

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

There is no problem for that to happen unless and until it gets the legal tender in every country first! Lolz! Thats the first challenging stuff I guess which we need to surpass and then we can think about the global legal tender.

Bitcoin, is still nerve wrecking for many countries and the government along with the banking institutes are unhappy that it even exist. It is taking away the investment that should be going into the banks, golds, stock exchanges etc and thus making the financial stability theoretically unstable!

The problem? The problem is with different countries and different regulations that they play within their own country. For global summit to happen it is really necessary that all the countries will come to the same page and then decide the ultimate fate for it.

Strongly agree with your opinion on this. The biggest challenge of bitcoin and altcoin become to be a global currencies is government or country. The decentralization system is very much the opposite of government regulation, because to regulate bitcoin the government needs to interfere, for example in transactions, essentially transactions in cryptocurrency mostly use peer to peer system so it only needs sender and receiver and does not need any third party.

That is the difficulty for governments to legitimize or regulate bitcoin as a means of transactions. And yeah, every country has its own rules and will be at least different from other countries it will be another big challenge. I think it is quite happy for me if all the countries legalize bitcoin as a place of investment and place of trading, if to become global currency and replace physical money I am not sure about it.

[fiulpro]

Cryptocurrency to become a global legal tender requires allot of governmental co-operation and approval. Different levels if community guidelines and security measures have to be followed for something like this to happen.

Proper access to internet and knowledge about how to use it shall be readily available before any such step.
Knowledge about the cryptocurrency should also be widepsread.

This might take a very long time to happen but certainly digital money is the future. Paper money will vanish one day or the other depending upon the speed of development and rate of empowerment of different countries and their governments.

[pureclckr]

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

In this world, where things are getting changed quite rapidly and this world is evolving in so many ways, crypto currency is one of the greatest revolution this world has ever seen. This is not only the best way of keeping our money safe but it also helps us in having more money in return due to continuous increase in its market value. The demand of crypto currencies will keep on increasing in future due to its number of advantages.

[rowel21]

Cryptocurrency is  money with wings you can send buy pay true this even a miles a way from your transaction but this currency can't replace the fiat money of very country
A country has a history and you will see that on there Fiat money
All people is need to accept that crypto currency is a kind of currency

[Ondre]

For me, Cryptocurrency as of the moment is playing a big and important role now in digital industry even markets. due to the fact that many people now are earning cryptocurrencies or they are paid in cryptocurrency as salary to their jobs of if it is an online job. Even now with markets, online markets accepting cryptocurrencies as payment, so we will not be surprise if one day crypto world will expand though there will still be people who does have and don't know how it is or use it. I think it would be better if they will make one curriculum in school today to introduce digital money and how it will be operated.

[Notcalculator]

It's hard to say for now. The current situation points that it wont be used as a legal tender or atleast in the near future. Crypto currency right now is closer to gold or stock than it is with money. And you dont see people flinging there stocks or gold to buy their items.
Additionally, it's way too valuable right now to trade like money. its price fluctuation is overwhelming. If you buy a pizza today with BTC, it could be worth a car tomorrow.

[Yankae]

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

I think it already an universal exchange,cryptocurrencies have already value in different countries.It is already exchangable,but i don't think it can be a legal tender.Specially the word legal,governments are not yet consider cryptocurrencies as legal.Maybe someday but it will take time i guess.

[batang_bitcoin]

Can cryptocurrency become universal means of exchange.

It can but we have to set up our own market place which is already existing so its happening.

I mean can it be a global legal tender like the physical money

Yes, it can.

[wumBowo]

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

I think it already an universal exchange,cryptocurrencies have already value in different countries.It is already exchangable,but i don't think it can be a legal tender.Specially the word legal,governments are not yet consider cryptocurrencies as legal.Maybe someday but it will take time i guess.

i do agree with this opinion, it's just all about the matter of time anyway.

[YzzyGo]

Currently bitcoin payment systems are being used all over the world. A simple google search can yield companies already into accepting bitcoin as a mode of payment. So it is not far out there but I have to say, it is quite slow in getting there. Especially with the high fees and slow confirmations.

[jinxing]

It could happen, time will answer. Crypto cardiac is easy to secure and fast. But this time can not be made as a universal legal exchange tool. Because the country has a characteristic of fiat money. And fiat money will not change its position.

[PG13]

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

I think it takes time before the cryptocurrency will become a mainstream as many countries are against this digital currency. Also, the volatility will be a problem if it will replace the physical money or Fiat.

[Ailmand]

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

I think it can be a global currency, however, treating it as a global tender would still take a lot of time, and at the moment, is too far-fetched. Cryptocurrencies have not even penetrated the deeply in the trade, investment and currency exchange market for it to have such capacity to be considered as a global money. I think, it is more possible to reach a point when it can interplay with many of the currencies and be accepted as a legitimate currency rather than that to happen.

[Hui8]

The digital currency cannot be an effective means of circulation.

It's the lack of elasticity of supply.

That creates currency instability.

It can be used by many worldwide but cannot be effective to replace as a global legal tender to replace physical money. Because other countries cryptocurrency banned by the government. Yes it could lead to lack of supply and also still physical money be used by means of payment in the future.

Cryptocurrency don’t need replace physical money cause its better on its own way, its given that fiat money will never die but this kind of technology will help us to enjoy more in the future. The supply with cryptos is not a problem, because we all know even stock market doesn’t run out of supply its a matter of demand and it will create supply.

Ok some convincing points here. I like the way you separated the crypto currency from the fiat currency. They have no similarities at all and they run in their own different principles. So you see, there is no reason for crypto to go in the banks, in national circulation or to replace the fiat currency in first place. All is vein in front of ever green crypto field.

The supply is unlimited. The coins can gain as much value as they want and apart from that they can be divided into sub tokens too. So everything is manageable in here.

[iqlimasyadiqa]

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

I see that we are heading in that direction, cryptocurrency is having a very high popularity and now many places that accept payment via Bitcoin. In addition, there are already a lot of exchanges emerging in various countries and it is a positive value for developing Bitcoin and cryptocurrency. We are going into that era and I think we will have a good future and create a digitized currency, one of which is to apply Bitcoin as a universal currency so that it can be used by all people.

Bitcoin is indeed the market leader today and it will be a great momentum to continue to increase the popularity of cryptocurrency.

[bottle0418]

My opinion is cryptocurrencies will become one of the main means of exchange in 2 decades, but it takes very long to absolutely replace fiat currencies. Because there are still lots of problems remained like the unsufficient circulation and volatile value. Another reasons is striking the balance between using of government currencies and cryptocurrencies will be difficult as the digital currencies are taking place of fiat currencies but most of existing financial system is based on the latter.

[Clavulanic]

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

I think it can be a global currency, however, treating it as a global tender would still take a lot of time, and at the moment, is too far-fetched. Cryptocurrencies have not even penetrated the deeply in the trade, investment and currency exchange market for it to have such capacity to be considered as a global money. I think, it is more possible to reach a point when it can interplay with many of the currencies and be accepted as a legitimate currency rather than that to happen.

We see how cryptocurrency works for us and through the years locally and globally can access or can use global money in wallet to wallet. Accepting properly in each countries is still a struggle to many because not all people are into bitcoin and through the discretion method of earning or sending money away, it is a big question to other why such cryptocurrency existed. But as a whole, it's really up to the person if he believes or takes challenges and be open minded into a new way of money earning or in investing bitcoin.

[Jeepney_koh]

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

It would be possible if it is in digital world or digital transaction. Global currency in virtual world for bitcoin will happen. However, if it is in physical money, it would be impossible. It is also a matter of accepting bitcoin by the government so that they can develop applications or programs that could be an exchange golablly.

[Proton2233]

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

I see that we are heading in that direction, cryptocurrency is having a very high popularity and now many places that accept payment via Bitcoin. In addition, there are already a lot of exchanges emerging in various countries and it is a positive value for developing Bitcoin and cryptocurrency. We are going into that era and I think we will have a good future and create a digitized currency, one of which is to apply Bitcoin as a universal currency so that it can be used by all people.

Bitcoin is indeed the market leader today and it will be a great momentum to continue to increase the popularity of cryptocurrency.

It seems to me that this will not happen until the issue is resolved with the speed of confirmation of the transaction. In order for bitcoin to be applied as well as Fiat, the payment confirmation should be instantaneous. I believe this will be done, but the whales are not interested. They use only bitcoin to trade on the stock exchanges. Therefore, I think that one of the altcoins will be used to trade in stores.