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Author Topic: Will Crypto currencies make local currencies disappear?  (Read 798 times)
mornabo
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May 26, 2018, 04:53:21 AM
 #281

Personally, I do believe that that time will come eventually. The governments will not be as powerful as bitcoin any longer. People will stop relying on banks. However, many are going to use bitcoin for illegal purposes, and no one will tell them what to do unless, for example, the US government puts regulations and rules of the usage of bitcoin. But after all, I do not want that to happen because people are not meant for total freedom.

there is still a country that does not regulate or accept crypto currency and Crypto currency is already in town and many are using them but at that time I can not say that cryptos can remove fiat currency in the world of finance, because many people still enjoy using the eyes fiat money
Yeah that's impossible, fiat will continue to be used as currency in every country, crypto is just a small sample of currency options in the world, the fiat function is too complex for everyone in all countries and can not be replaced by crypto just because the crypto innovations are different from the usual financial system
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May 26, 2018, 05:05:53 AM
 #282

I do not think banks will allow cryptos to govern it would be tantamount to killing all the banks in the world. Not all countries are ready to use crypto currency so that the currency will never be replaced by cryptos. The time will come when bitcoin and altcoin will be accepted globally but that will only be an addition to the currency
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May 26, 2018, 06:13:10 AM
 #283

crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?

This thing you had said would really be an impossible thing to happen. Cryptocurrencies might be highly adopted but it would just still remain as an alternative and wont really come to a point on where it would become the main trend. Government wont allow such thing and not all people will switch on a thing that hasn't being backed up by something.

It might happen dude. In china, particularly in Shenzhen, they dont use paper money anymore or atleast its minimal. The only problem I think with that scheme is that they're security is compromised and their government can tracks what they buy and do. I believe that these kind of problem would be solved by blockchain technology wherein they dont need to register their information.

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