Crypto currency can replace the dollar

[hulla]

I don't think that the crypto currency can ever replace a centralized currency. Government supports the centralized currency because it is one of the signs of statehood. The collapse of centralized currency will be the collapse of statehood.

You may be right a decade ago but I think your thinking is obsolete.  World trade changed so much the past years and continues to evolve.

All currency is based on "trust" (in the government who issue/back them, or something else).  It is fundamentally a contract and what is better than a cryptocurrency to deliver it?

I am an American and believe it will be to the detriment of the US if the dollar is replaced as the world's currency of trade.  I believe the US government will delay or fight it as long as they can but IF the rest of the world rally towards supporting crypto (I am not locking it to Bitcoin), there is nothing the US can do to stop it.

And you said you're from the US because it seems to me that you don't what the US government are capable of when it come to fighting over an issue not to mention of their national currency. Do you ever wonder why other countries submit to the US government rule? We doing need to brag or drag this issue cause bitcoin will never replace US$, it something glaring.

[ichai]

I don't think that the crypto currency can ever replace a centralized currency. Government supports the centralized currency because it is one of the signs of statehood. The collapse of centralized currency will be the collapse of statehood.

I agree with your opinion. Electronic money can never be replaced, as there are many loopholes and holes in the payment. If you put them to trade, there will be many restrictions and high costs.

[Ghebung Masam]

indeed the use of both is the same for the means of payment, but crypto will not replace the dollar. both have functions and are in a different field, perhaps more precisely is crypto helping the dollar or other fiat money to solve the problems that are available so far in the means of payment.

[Lock00Live]

It can not be, it is a difficult thing for the country, nowadays electronic money is very risky, price risk, risk of holding and hackers, and some people's weakness in the use of electricity. death So it would be hard to get them into circulation.

[yayoyo]

This takes a long time. First of all, I think that the collapse of the US dollar will be completed in 2020, and then the value of the cryptocurrency will increase. People will pay with cryptocurrency about ten years later.

[engesi]

I also hope that cryptocurrency can replace more cash and be recognized by more countries. If their recommendations are adopted and applied, then I think this will allow the cryptocurrency market to take off overnight!

[jonaire99]

The majority of the people may prefer to use dollar instead of cryptocurrency because there's no need to use internet during transaction. If the countrg decides to legalize any cryptocurrency and become a legal tender, it may take time before people get used to it. The full implementation of cashless transactions will only happen if all sectors support it.

[jdgranfiel]

Even though we wish the whole worId would be digital, I don't think crypto currency can make it throughout all rural areas. Crypto transactions needs equipments or machines to process effectively. I dont think it would be suitable to places like wet markets, etc. Still dollar or fiat money is needed.

[usekevin]

It was long expected one.Many people from United States inverse their money in bitcoin for future prosperous.I had strong believe in this.But it will come in process,only if the American goverment officially announce Bitcoin is their currency.Their is some possibility for this to occur.

[Poink]

Even though we wish the whole worId would be digital, I don't think crypto currency can make it throughout all rural areas. Crypto transactions needs equipments or machines to process effectively. I dont think it would be suitable to places like wet markets, etc. Still dollar or fiat money is needed.

In the old days, how long before traders fully adopted coins and paper money (from real commodity and precious metals?)? 

If ever, it will be the same for transition to crypto.  Don't expect it to happen in just a few years.

[Dontme]

Kalashnikov: crypto currency can replace the dollar

The deputy chairman of the Federation Council Committee on Economic Policy believes that states should use digital money for mutual settlements, not the American dollar, but digital money.

Sergei Kalashnikov, who also chairs the Interim Commission for Monitoring Economic Development, expressed his opinion on the international role of crypto-currencies at the conference Digital Economy in Russia. Non-standard forms of payment »:

"The situation when the dollar is a universal means of payment in international relations, tightly binds each country to the US reserve system.It turns out that one country takes on the functions of global management of the entire world financial market. Perhaps, just the crypto currency could solve this problem on more democratic and objective basis. "

Kalashnikov cited the example of interaction between the countries of the Eurasian Economic Community and noted that the asset for interethnic exchange of money should be neutral:

"We have to exchange certain denominations within the framework of the Eurasian Economic Community (EurAsEC), and we would not like to apply any national currency, for example the ruble, as a nominal, for political and other reasons." It turns out that we need some neutral universal currency that is not tied to some one country.And what could it be? In my personal opinion, a certain type of crypto currency could well become that clearing currency of mutual settlements, not only within the framework of the EurAsEC, but also in the wider context between different countries . "

In late May, the State Duma approved in the first reading three bills that deal with digital law, crypto-currencies and their turnover. Kalashnikov believes that lawmakers should create basic rules for the normal development of the digital economy in Russia:

"The fact that the proposals of the State Duma are frameworks is, on the one hand, good, since they do not impose anything, but on the other hand, they may presume the adoption of such subordinate legislation that could significantly distort the original ideas of these bills. the challenge is to propose changes to the legislation that regulate not so much the present day as the future, because the recognition or non-recognition of crypto-currency is not limited to the problem. overt direction and the vector of development in the field of the digital economy legislation. "

Well, I will believe this if BTC stays at $20,000 everyday and when btc will going to conquer the community of the whole governments.

[liuqi]

I also hope that cryptocurrency can replace more cash and be recognized by more countries. If their recommendations are adopted and applied, then I think this will allow the cryptocurrency market to take off overnight!

Already Bitcoins and some altcoins are adopting in many companies and few countries are accepting the legalisation of crypto currency. So only positive result of dollar is a global currency and we should exchange in all over the world. But USDT is replace the dollar because it is a constant value in anytime and it is not fluctuate in anykind of situation so crypto currency is rule the entire world in future.

[BabyBoss]

I really do believe that soon btc will be more exposed and will become great by that way people will have more interest in btc and they will try to use it and they will see the benefits of having bitcoin, by that way people will love bitcoin and replace dollars on their own.

[Harriti]

I totally believe that cryptocurrency can replace dollar in the future and there will be nobody wanna use dollar anymore . At the moment, there are few countries are going to legalize cryptocurrency as their local currency. Beside, as I know bank system at the moment is supporting for cryptocurrency by supporting for ICO project

[miyaka26]

Tons of discussion about a certain crypto will replace USD fiat someday but in my opinion, it is nowhere near on the future the Government and Central banks must fully adopt the usage of blockchain technology before recognizing any cryptocurrency for the replacement of the traditional fiat, the current one is still functional, crypto and blockchain is still premature to handle that stage plus a lot of people might object about the idea.

[jacafbiz]

I don't think Crypto will replace Dollar, I can only see both complimenting each other, Crypto will likely serve as save haven for people looking to protect their investment in Crypto because Dollar normal fiat keep losing value due to inflation. Most people only look at the advantages of inflation but fail to highlight its importance to inflation in an economy

[PHPSELLER]

I totally believe that cryptocurrency can replace dollar in the future and there will be nobody wanna use dollar anymore . At the moment, there are few countries are going to legalize cryptocurrency as their local currency. Beside, as I know bank system at the moment is supporting for cryptocurrency by supporting for ICO project

I agree with you my friend, there is a high chance that cryptocurrency can replace the dollar in the future, because our world is going for the evaluation and we will use the new technology. Cryptocurrency is a good way for a lot of people to use their money easily without any problem and with a high security, but the first step is that bitcoin should be legalized at least at 90% of the countries in the whole world, then I am sure that bitcoin will be used more and it will be more popular so people will give up from using fiat and going for cryptos.

[2stout]

It's definitely a disrupter and the potential is there for it to do such.  However, the powers that be are trying and doing all they can to maintain the status quo and the crypto space still needs a bit more time to mature for which the sheer magnitude of scams is not helping either.

[allohha]

It's definitely a disrupter and the potential is there for it to do such.  However, the powers that be are trying and doing all they can to maintain the status quo and the crypto space still needs a bit more time to mature for which the sheer magnitude of scams is not helping either.

in my opinion there are two ways to stabilize the current situation in the market. Unequivocally, with the legalization of crypto currencies around the world, we should think about using Bitcoin as a means of payment, or in any case it is necessary to raise demand for Bitcoin, because it depends on the price of this coin that the entire crypto-currency market depends.

[PancherBitCoin]

It's definitely a disrupter and the potential is there for it to do such.  However, the powers that be are trying and doing all they can to maintain the status quo and the crypto space still needs a bit more time to mature for which the sheer magnitude of scams is not helping either.

in my opinion there are two ways to stabilize the current situation in the market. Unequivocally, with the legalization of crypto currencies around the world, we should think about using Bitcoin as a means of payment, or in any case it is necessary to raise demand for Bitcoin, because it depends on the price of this coin that the entire crypto-currency market depends.

I think there should not be a question of replacing the dollar with Bitcoin, because in any case, society needs to have an alternative. Moreover, the crypto currency will inconvenience certain segments of the population, who will not be able to use the crypto currency for the intended purpose.