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Author Topic: Crypto VS national currency  (Read 2940 times)
Mapalast
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May 28, 2018, 11:12:47 AM
 #341

No practically it seems not possible to happen.Not all the people would accept decentralised cryptos as their primary currencies.

Even it takes long time. But it ain't replace the national currency itself. It is caused by not all people around the world accept and get used to cryptocurrencies.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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May 28, 2018, 11:16:27 AM
 #342

Nope of course because in the first place crypto currency has no stable value for it. And it will just make transaction more complicated and could be a reason to a downfall of some business establishment that needs daily income in order for the establishment to get its stock in place for the stocks that has been sold. So i guess it is not really true though as we all know also that crypto is one of the best instrument to make a transaction but for me it works on the ICO project that has already utilizing their tokens in the process of making transactins on their project.

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May 28, 2018, 12:23:07 PM
 #343

It's impossible because national currency cannot replaced because it's the used money by every people in a country and also because bitcoin is a digital currency. It can be use in a country but will not replace national currency.
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May 28, 2018, 12:59:23 PM
 #344

Crypto versus national currency is no joke and is a very top competition for both of it. But in the current state of bitcoin it is clearly that this is to far away from national currency. It is like one versus a million because a national currency has a billion supporters rather than almost a million users of bitcoin. This is also one of the reasons why some government are stopping or prohibiting bitcoin to run in thier country. It is to avoid future competition which may result to crisis or problem. We just hope that someday if people or the country  have to choose between national currency and bitcoin the good one will be the one to stay and must bring a good benefits to all of us.
taranbam
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May 28, 2018, 01:18:06 PM
 #345

I think it's possible. But there must be a lot of things to change, maybe it should take even more than a dozen years
Aryadwipanggah
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May 28, 2018, 01:29:58 PM
 #346

I found this expression on the news channel about the crypto currency: "Anyone who will try  to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national  money?
I think that it's possible, but it will take more time.
according to me I believe crypto money will not be able to replace the national money as a medium of payment transactions. Local government regulations that prohibit crypto money as a medium of payment and unstable price of crypto money becomes a major obstacle to be able to replace the national money
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May 28, 2018, 01:31:14 PM
 #347

The OP reminds me of a scenario where almost everybody is talking about in the future and how it feels like to be part of a cashless society. But perhaps, these are just speculations that is due to happen or not. And with the current drawbacks which the crypto has, i don't really think that a cashless society is going to happen unless these disadvantages are finally addressed.

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Nick85
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May 28, 2018, 01:38:07 PM
 #348

my vote goes to crypto currency
12tribes
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May 28, 2018, 01:45:40 PM
 #349

Cryptocurrency requires a little more education before it can be used compared to fiat money. Cryptocurrency is not coming to obliterate fiat money, at least for the now. between now and 2023, a lot of developments will take place and though many technologies may birth inventions you can be sure that many people will still not be able to properly use cryptocurrencies. The idea of having an ATM will only make it a bit generalised but how do you convince an elderly woman who is not learned, who sells potatoes you have paid her money into her account what is her due? We'll have to do more crypto awareness before that time.

Sandijoee
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May 28, 2018, 01:52:32 PM
 #350

Indeed, the end of this money crypto and national money is always compared. Until crypto money will replace the national money in each country. But if I do not think that's possible, because the national money has been built long and will not be replaced by crypto money. Crypto is more deserved to be an asset to invest or become a digital gold.
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May 28, 2018, 02:05:40 PM
 #351

I found this expression on the news channel about the crypto currency: "Anyone who will try  to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national  money?
I think that it's possible, but it will take more time.
In my opinion, i think it depends in the country because, majority of the countries did not support cryptocurrency as their money so it is impossible for them to replace their national money as crypo. While some countries were allowed to use bitcoin so it can change their national money as crypto. So i think that it depends in the country.
AlphaOM
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May 28, 2018, 02:09:50 PM
 #352

Indeed, the end of this money crypto and national money is always compared. Until crypto money will replace the national money in each country. But if I do not think that's possible, because the national money has been built long and will not be replaced by crypto money. Crypto is more deserved to be an asset to invest or become a digital gold.

I agree with you. But I believe that national crypto money should be a single currency. Single for all countries. LIka a "WorldCoin"
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May 28, 2018, 02:17:21 PM
 #353

I think otherwise, I do not believe that crypto currency will be able to replace any country's national currency. Cryptos are great and I believe in their bright future especially Bitcoin, but I do not think that any government and big corporations will allow that to ever happen. Plus the fact tha crypto currency can be very volatile which is not really suited to for it to be a national currency.
kim owen
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May 28, 2018, 02:28:26 PM
 #354

I think that at the moment the national currency of any country is much more stable than the rate of the Crypto-currency, therefore it is stronger! It's too early to compare them!
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May 28, 2018, 02:36:26 PM
 #355

The national currency is printed and issued based on many different conventions and internationally recognized.
Currency is issued as coins, banknotes and you can handle it. And the particular thing is that the currency is only for that country to use, the number is unlimited.
Most crypto are conventionally numbered and organized by a group of people who conventionally and administratively regulates that crypto technology. They are the developers of the source code and cooperate with many other organizations to make their crypto known to everyone. Crypto is only circulated by the internet and there are many people or organizations using it to its known value.
chistiy
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May 28, 2018, 04:23:57 PM
 #356

To my mind, cryptocurrencies are a more advance currencies that mainly used online while national currencies are the old fashioned currencies released by banks. I think that at the moment the national currency of any country is much more stable than the rate of the Crypto-currency, therefore it is stronger!
badjoke
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May 28, 2018, 05:51:35 PM
 #357

you know people don't want to change , very hard to convince all people but the future is cryptocurrency .
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May 28, 2018, 05:53:17 PM
 #358

Yes,it is really possible, but I think that we won't see it regretfully. But our children will use crypto like we use dollars now, no doubt
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May 28, 2018, 06:10:24 PM
 #359

I think crypto can not replace the national currency. Not everyone knows crypto and want to use it. In my country, the government can not control the crypto so they do not accept it.

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May 28, 2018, 06:12:08 PM
 #360

I think the national currency is easier to use by all community groups and of course by some small communities because from the first they use the national currency to transact and to sell and buy and I think the crypto currency is only its users who only know and I also hope that bitcoin can be better known in the community so people from the lower middle class know and know what bitcoin it is and how to use crypto money so people can use the crypto currency anytime in their country paper money will be replaced with money crypto Wink
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