Would it be realistic for the world to run on cryptocurrencies?

[samuraijin]

I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

no problem about this technology everything is going slowly but surely, we see before the internet that everyone still needs time to use it, but here we need to realize Bitcoin may have been around for 10 years now even this forum, how long does it take is around 10 or 20 years to get more adoption of users, now focusing on education about cryptocurrency is the most important goal

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[audaciousbeing]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

Yes its possible. Because there have been several things that are possible today that few centuries ago, it was assumed that it can never be done but in the case of what you are postulating then some factors needs to be held constant among which is:

There is only one government that controls the entire world and it decide the only to ensure countries transacts using one single currency and they have decided its crypto.


If the above has been achieved, then all other things will fall in line...

[topbitcoin]

Everything is possible, why not? cryptocurrency is almost like e-money (fiat digital) and what we must find is which one is fast transaction and low miner fee. But, in case we talk about cryptocurrencies and not only bitcoin. About adoption, i think once it is legalize in big countries, people will feel free to use it as payment and don't need to afraid if they break law from the county. The question is, how about government? 

[coin-investor]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

Honestly, it's not really impossible, there are some companies and country adopting blockchain and implementing cryptocurrency, people only follow what they see as the norm and of those they can understand, when they see people and companies using Cryptocurrency, they will just adapt it also, but it's not something we can get overnight, ten years of Bitcoin has reached a lot of milestones and we just need more years to make this happen.

[Shenzou]

i don't feel like teh world would actually be able to operate on cryptocurrency ever, the thing is that cryptos are anonymous which is kinda of a blessing and a curse at the same time, sure we use it for good things like doing fast transaction and secure but others will use it for other bad stuff, so imagine a world where transactions are being made and you can't track where the money is going or coming from, it would be a mayhem and people would use it for all sort of illegal stuff, and scams and money laundering, i do believe that crypto should be used as a payment method but not as the only payment method.

[Iceblast]

all over the world using crypto must be based on how the government decisions in each country, how the development of crypto, how enthusiastic all citizens in the world. because that will determine how cryptocurrency can be used.

[Eternad]

all over the world using crypto must be based on how the government decisions in each country, how the development of crypto, how enthusiastic all citizens in the world. because that will determine how cryptocurrency can be used.

And it seems impossible in the near future maybe when fiat or paper money is no longer used that's the only time it will happen. But since paper money is widely used and appreciated by the government cryptocurrency will be hard to see or used by many nations. It can be use in some countries but not the entire world.

[Youghoor]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

Considering the state of the entire world in terms of the usage of Cryptocurrencies, it is very unrealistic for the world to run on cryptocurrencies. The media is always spreading FUDs about cryptocurrency which in some way discouraging people from adapting to the use of cryptocurrencies in their online transactions.  The adoption rate of cryptocurrencies into the mainstream financial ecosystem is very low. The only way for the world to run on cryptocurrencies is through mass adoption of it into their daily transactions.

[fullhdpixel]

For me, I believe that there is every possibility for the world to adopt cryptocurrency, but such cryptocurrencies would be backed by fiat just like this cryptocurrency that is called DAI (those that knows this cryptocurrency will understand what I mean, it is a stable coin).

But, we are not going to make use of the same cryptocurrencies, every country will create their own cryptocurrency just like China is about to do now (I read the news on Bloomberg). Maybe they will create their own cryptocurrencies and when you send, for example, the Chinese yuan crypto to someone, they can be able to exchange it to the US dollar crypto or HODL it instead. That's how I believe it would be, don't know if I'm right though.

[xiboothrezi]

Being optimistic is good, specially when it comes to our futures.
A world working and funded solely by cryptocurrency will be good, all transactions that we usually do we can do it at home in an instant without dropping a sweat falling in line to pay electricity bills. Sending money will cost you less time and will be very convenient because you can do it anywhere as long as you have internet access with the help of crypto wallets.

If the facilities and infrastructure are supportive, human resources are able to adapt to the new system, as well as full support from the government, making it possible. If there is no internet then all that will be useless, if the human resources have not understood everything will also be lame, this is quite complex. So, in my opinion, cryptocurrency and fiat will not replace each other but complement each other. Deficiencies in fiat, such as large transaction speeds, without space restrictions, will be complemented by cryptocurrency, and vice versa.

[xvids]

I think that it would only be a very small chance to happen.
Governments doesn't really like crypto currency since most of them are decentralized .
But if each and every country would create it's own crypto currency to replace Fiat then it could but the only problem is how would they do the transaction once a city faced some calamity and the electricity runs out?

[DreamStage]

If they had some kind of handicap to each countries economies for sure yeah.

Even if we have governments ideologies updated onto to use it as normal currency "fiat".
Everyone needs to learn from 0 what cryptos are, pros and cons.

In what benefits the most each country and international transfers.

Decentralized is the key as well as faster buys / sells amoung countries.

[shark1006]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

This is the main question could cryptocurrency overcome centralization. Each country has leverages of power, one of which is reserve fiat money. If countries begin to use crypto, this can not be manipulated, that is why the cryptocurrency will not be massively accepted instead of fiat money, it will be as a separate ecosystem

[ranochigo]

Given the adoption rate and maturity of lightning network, I would say it is rather tough for the network to be scalable. As compared to the major payment processors, Bitcoin can't handle as much transactions. If the adoption increases exponentially, the lightning network would be the technology used to scale it.

In addition, with the current state of the world, there are still certain areas without an internet connection. It would be easier for them to just use fiat directly instead.

[AjithBtc]

Given the adoption rate and maturity of lightning network, I would say it is rather tough for the network to be scalable. As compared to the major payment processors, Bitcoin can't handle as much transactions. If the adoption increases exponentially, the lightning network would be the technology used to scale it.

In addition, with the current state of the world, there are still certain areas without an internet connection. It would be easier for them to just use fiat directly instead.

Yes, we haven't reached the point to make bitcoin get used eliminating the entire fiat usage around the world. With time changes we're made to meet the current necessity, as the technology keep progressing there'll be some solution for the scaling. Same is the internet connection, just think of ten years back, the internet connectivity is very low. This way in future everywhere there will be internet. Maybe if every country join hands this can be made, but the possible chances were not even 1%

[Asmonist]

I think its realistic for the world to run cryptocurrencies. I believe eventually we can all adopt into it. These years and more may seem to be a transforming stage for everyone. Another 10 or 20 years I guess will be the year of adoption. Technology is always evolving and so are people. Just like the old stone age and look at is now, its really improving. We cannot really feel it now but I know the world is slowly adopting the crypto world.

[dimastegar]

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

Yes, the most effective step must be taken to continue to increase the adoption of cryptocurrency. By educating people through a clear explanation of the basics of crypto and explaining the benefits, and risks.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

Yes, being optimistic is OK, but we also need to know that we also have to be prepared for what can happen in the future. Of course, in each of our ways. Either as a trader, miner, exchanger, or investor.

[Maslate]

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

Yes, the most effective step must be taken to continue to increase the adoption of cryptocurrency. By educating people through a clear explanation of the basics of crypto and explaining the benefits, and risks.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

Yes, being optimistic is OK, but we also need to know that we also have to be prepared for what can happen in the future. Of course, in each of our ways. Either as a trader, miner, exchanger, or investor.

Free education would be the best key  if we aim for crypto adoption so that people will be more aware about its usage not just as an investment but more particularly being a currency. I know this will take a lot of preparation but if the government will be very supportive about this, then its very possible for the whole world to run on cryptos.

[minersday]

Considering the current nature of the world now, it will be very easy for the entire financial ecosystem of the world to be run on cryptocurrencies but for how realistic it will be, it might not be possible. This is due to the fact that not every part of the world actually have access to stable internet connections to enable them to make cryptocurrency transactions. It might be easily to educate people on the use of cryptocurrency but without proper internet connections, your efforts might be in vain. Considering the nature of cryptocurrencies, it is not possible to use them offline. This might not make it  realistic for the entire world to run on them.

[NeironixNV]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

The most important tasks for today are to solve the issue of state regulation, then there will be mass adoption of cryptocurrency in society, and at this stage the Bitcoin blockchain should be so perfect to withstand a huge stream of new users.