Crypto VS national currency

[Jay Jay crypto]

Many countries are increasingly thinking about a strategy of how to deal with the global rise and mass adoption of cryptocurrencies. If Bitcoin is the money of the people, fiat currency is the money of the state.

Governments and central banks from India, Japan, Canada, Russia, Switzerland to Singapore and the Marshal Islands are having projects as to how best create a government backed digital currency. Several other governments, including China, Estonia, and Iran, have discussed plans for their own digital currency.

[Considered]

Maybe it might be true, we never know  what will happen. the rate at which crypto is developing however is quite promising, the year 2023 might be one of the best crypto years. but this will always depend on the governmental regulations that will be in place by then. if more governments legalize the coin then the better but for now, Fiat still takes time

[BillyTalent]

While the best national currency because crypto currency is still wild. But soon it will all fall into place. But in the meantime, it's too early to invest everything in cryptocurrency because it is unstable and can burn out.

[btcdepo]

Let us know that these are two seperate means of exchange for goods and services. National Currency anywhere will always be an identity to represent a country; a mean of payment for goods and services usually in form of cash. But Crypto does not belong to any country or region. The same ethereum or Bitcoin used for transactions in Japan is the same used in Russia.

The fact that cryptos are decentralized makes them not depend on any country or anybody. It means that there is no any center (like corrupted central banks) that controls the currency and maniupulates it.

[jessequick]

If cryptocurrencies continue to grow and position themselves as systems that are beyond the influence of banks and the reach of government regulation, we can be sure that governments will enact national laws and take their share of the proceeds.

[Bit-Tech]

the year 2023 is too fast for the crypto currency to replace the fiat currency, perhaps at that time the crypto currency and fiat currencies go side by side and have nearly as many users

[Cash BTC]

I don't think  the crypto will replace national currency completely. They both have their own advantages and disadvantages.

[South Park]

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.

There has never been a new currency created by itself, so it is very difficult to imagine what will happen next. We can draw the conclusion that most Bitcoin businesses are new and still in the process of maturation. In this case, it is better to wait and observe to be more confident about the security and certainty of Bitcoin as a transaction or investment instrument in the future.

In fact you are mistaken, the first currencies arose not because the government said that you needed to use a material for your coin, people have been trying to use something similar to a currency for a lot of time and they just selected the materials that were the best in order to create their currencies, that is why you see that in ancient times gold and silver were the choices of almost all the civilizations around the world.

[Shadon24]

To replace the currency completely I think it is impossible, because between the bitcoin currency and the national money have their own position, and not all the world's population can access the bitcoin and especially the inland.

digital money and paper currency have the same power and attractiveness, but taiji cash is still dominant and many users use the digital currency is still a lot of places. the world accepts them.;

[MrRiuss]

nothing is impossible, but it is very difficult to become reality. it will take times, cost and a lot of effort. but still very low possibility

[tanjiran]

Although once cryptocurrency is legalized as a means of payment, I will keep it as an investment. Especially if the fiat can still be used. It's about effectiveness. With regard to national currency, that is evidence of a country's sovereignty in its economy. Since it is fully supported by the government then the national currency will be the main one, so although cryptocurrency will be allowed as a means of payment then it will be an alternative only.

[Che454010]

I think it is very unlikely, it will take hundreds of years, and maybe more, the governments will slow down the process

[eashikde]

This is a serious question that is not easy to answer. If the state legitimizes the crypto currency, then I think they will do so that the national currency does not lose value before it. To begin with, we wait for the legality of the cryptocurrency.

[taxmanmt5]

Bitcoin and dollar cannot collaborate with each other and neither bitcoin is anywhere near to digital dollar. Both are fundamentally different. One is Decentralized and the other one is full centralized in control of US Government. Although these days we compare bitcoin value in dollars but that day is near when there will be only bitcoins and no USD.

[anam17]

Virtual currency has been widely used in restaurants or coffee shops only if you want to change globally, then it takes a long time.
but it will definitely happen because we have entered the digital age

[ngacengan]

it seems that the national currency for now is still very familiar and still very used to humans in this world because I see people in this world still not too know with bitcoin so maybe bitcoin only become an alternative payment.

[st tiger]

National currency is a material that follows with the every livelihoods of a country. But cryptocurrency is a multimedia that is only can control by those who actually knows its value. National currency can be controlled by the bank or government but they cannot control cryptocurrency.

[munify]

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, bitcoin will not be able to replace the national currency because the government will not allow the crypto currency to replace the legitimate currency. Bitcoin is widely used solely for investment assets rather than means of payment.

[Baby Dragon]

New payments system might be appeared using blockchain technology in the future. But I don't think the fiat which we are using now, will be removed. Many people will use fiat specially for small things like a coffee.

I certainly agree with that opinion, bitcoin will become new payment systems by using blockchain technology. However, our traditional and national currency will not replace by bitcoin. In addition to that, fiat will last forever because it is totally legalized and can be use both offline and online. Lastly, I think bitcoin has chance to become one of our world currency and I guess it is a good news to all bitcoin users.

[Snaic]

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.

Crypto currency is unlikely to ever replace national money. This is impossible, because the national money reflects the state of the country's economy, the crypto currency will not do this. Therefore, it will unbalance the economy of any country, if it is replaced instead of national money.
Crypto currency can only go as an additional means of payment to national money, as it provides citizens with significant additional opportunities in financial relations.