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

[Wintersoldier]

I think it's too early to predict whether or not we can run our countries on BTC. Right now BTC has issues like scalability that need to be addressed prior to its mass adoption.
Governments too are not much in BTC favour unfortunately.

Probably, what would happen is another cryptocurrency that will take the lead for mass adoption like literally a crypto that will be used by an entire country that possesses a characteristic that is unifying. What I mean is a cryptocurrency that could replace the fiats that we have but will not replace its functionalities to become usable by people. Eventually, the government needs to adjust a lot for other people that are not technologically-inclined so they can utilize it as well.

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[Tipstar]

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 would be the future. The crypto might not be exactly what are circulating now. But surely soon we would be surrounded by different tokens that may or maynot have monetarial value. Some may even act as redeemable points. It would also not be necessary to convert the crypto to an equal fiat value when all of our activities are done by exchanging crypto among ourselves.

[Murat]

Day by day we are depending on the technology so the pattern of our lifestyle is getting changed also with the change of time, In this sense, everything is possible to stay calm when people want, so decentralizing platform still in the struggling stage so it needs to be more improved, I especially consider about the security purpose, when you have both online and offline document then how could you prevent from hacking your document? so I believe that this platform will get more improved in the coming days, it will be the most used payment platform in the future.

[TRONTON]

Day by day we are depending on the technology so the pattern of our lifestyle is getting changed also with the change of time, In this sense, everything is possible to stay calm when people want, so decentralizing platform still in the struggling stage so it needs to be more improved, I especially consider about the security purpose, when you have both online and offline document then how could you prevent from hacking your document? so I believe that this platform will get more improved in the coming days, it will be the most used payment platform in the future.

various startups will provide tools to perfect it, this is where business and personal interests are connected, even though it looks out of the decentralized aspect, but the best answer is how to look at the prospects of the transition first to see the actual reality.

Asset security is something that worries crypto users, I can only think of improving the quality of future generations who will answer this as something normal.

[bitbunnny]

I can't see how this could be possible. Cryptocurrencies are highly volatile and unstable, would you like that economy of your country is based on currency that isn't reliable? I don't think so.
Also, there is a problem of limited number of coins in case of Bitcoin, lack of regulation, transactions speed and much more. Countries can't afford to depend on cryptocurrencies.

[bounceback]

It is quite possible to replace Fiat money with cryptocurrencies.But this requires that all people understand what cryptocurrency is and why it is needed.

if mass adopters happen in the future, maybe bitcoin will become the main payment stream. This certainly will greatly facilitate the public if they want to do transactions with bitcoin, and this may be a difficult competition for fiat currencies, but if that happens it does not mean that fiat currencies are no longer valid because some of their people will also need banknotes to be given to their children and it is very unlikely if they give bitcoin to their children to buy snacks.

[acroman08]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency?

It is possible for the world to solely run in cryptocurrency but not with what kind of cryptocurrency we have today which is too volatile and decentralized(just like what bitbunny said).

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

this is true, but the reason behind it is understandable.

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.

as far as I know, there are schools/college universities and online schools that offer blockchain/cryptocurrency courses to students. so the educating part is already starting. debunking
what the media says will be easy if people understand or at least have a gist/hint of what cryptocurrency is but if not it'll be pointless.

[isaac_clarke22]

We only have limited supply of Bitcoin and pretty much people should try and invest in here. We're getting regulations where people doesn't want to because of corruption by some governments when using their money for something.
It is a realistic idea for daily lives to run in crypto but it seems that it is not that gonna be easy for the majority.

[Shasha80]

Technological advances have developed very rapidly, in the financial sector blockchain and cryptocurrency is a technology must be
adopted by the whole world. Because it has proven the advantages of cryptocurrency with its blockchain technology already many
make financial transactions more effective and efficient. But the fear of the government with cryptocurrency because can not be
controlled and the price is volatile, also has difficulty regulate cryptocurrency. Make cryptocurrency right now it cannot be used
globally all over the world. So the conclusion  is not possible to the world to run on cryptocurrency, maybe still needs a few more
years to become possible.

[iLLmAtiCiAn]

That's a little over reaching I think,I mean, crypto is at infancy stage and the world already has other means of transactions before now,so its not possible

[Hypnosis00]

We only have limited supply of Bitcoin and pretty much people should try and invest in here. We're getting regulations where people doesn't want to because of corruption by some governments when using their money for something.
It is a realistic idea for daily lives to run in crypto but it seems that it is not that gonna be easy for the majority.

Truly can't be easy cause even now still a lot of people aren't having good insights towards crypto, they still not believing crypto for they always keep in mind that this is just a scam or just a fool story. Crypto adoption will take time for sure, to give crypto education to the people is quite challenging and really tough works for everyone. Thus, it is to think that we can't be in full adoption or using crypto only in the future for many will still never accept this new technology but rather to stick with fiat.

[joinfree]

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.

That would be absolutely possible as most countries even if allows cryptocurrencies in their country would prefer users to their own cryptocurrency coin other than using bitcoin, ethereum, dash, litecoin,

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.

That's so true mate, educating people about cryptocurrencies would help alleviate the defamation that the media have labelled against crypto. Users would get to understand that cryptocurrencies are not all about scams.

[putukin]

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.

I think the era of fiat money could be unlikely so simply broken. However, cryptocurrencies have excellent makings as a very good and safe financial instrument. Well let's hope for a brighter future

[yulionoo]

yes you are right op the biggest problem why cryptocurrency hasn't been able to achieve mass adoption is because there are still many people who don't know about cryptocurrency. and also the refusal of most governments to make crypto not mass adopted.
but I am optimistic that the potential that bitcoin and other cryptos have over time is that people will realize the benefits of using crypto. and now more and more countries are adopting blockchain. if they have adopted the blockchain then I'm sure in the future they will also adopt bitcoin.

[Kambal2000]

yes you are right op the biggest problem why cryptocurrency hasn't been able to achieve mass adoption is because there are still many people who don't know about cryptocurrency. and also the refusal of most governments to make crypto not mass adopted.
but I am optimistic that the potential that bitcoin and other cryptos have over time is that people will realize the benefits of using crypto. and now more and more countries are adopting blockchain. if they have adopted the blockchain then I'm sure in the future they will also adopt bitcoin.

Little by little we are on our way with having a cryptocurrency mass adoption, few years ago what we concerned is if Bitcoin or crypto will still exist in few years, and now we are very sure that it will exist forever and it will part of our journey and that our concern is how we are going to help crypto to be known wordwide which is a good thing for all of us.

[gabmen]

yes you are right op the biggest problem why cryptocurrency hasn't been able to achieve mass adoption is because there are still many people who don't know about cryptocurrency. and also the refusal of most governments to make crypto not mass adopted.
but I am optimistic that the potential that bitcoin and other cryptos have over time is that people will realize the benefits of using crypto. and now more and more countries are adopting blockchain. if they have adopted the blockchain then I'm sure in the future they will also adopt bitcoin.

Little by little we are on our way with having a cryptocurrency mass adoption, few years ago what we concerned is if Bitcoin or crypto will still exist in few years, and now we are very sure that it will exist forever and it will part of our journey and that our concern is how we are going to help crypto to be known wordwide which is a good thing for all of us.

Mass adoption yes. Though I find it very unlikely that we can run exclusively on crypto. With crypto's current state, I don't think that's possible. There would have to be major adjustments, just to get crpyto primed for mass adoption and government support. Even in the future, I doubt it will happen. There may be another type of currency that will come up, or probably we'll still be heavily reliant on fiat.  We wouldn't know for sure. And I don't think we'll be around when that happens.

[leea-1334]

Probably, what would happen is another cryptocurrency that will take the lead for mass adoption like literally a crypto that will be used by an entire country that possesses a characteristic that is unifying. What I mean is a cryptocurrency that could replace the fiats that we have but will not replace its functionalities to become usable by people. Eventually, the government needs to adjust a lot for other people that are not technologically-inclined so they can utilize it as well.

Another crypto that is like literally a crypto used by a whole country because of its unifying characteristic. I think to me that coin already exists,,, and it is called Bitcoin. The unifying characteristic is many and they all have to do with power of independence and allowing you to control your own money.

You can do like Marshall Islands and create your own crypto but what is the point to replace fiat with another state controlled money?

[maydna]

I am not sure about that because, at least, people still need fiat in their daily life and until now, cryptocurrency does not use as a currency in many countries. But that could be possible to happen in the future if all countries can have one vote to allow cryptocurrency as a new currency.

Many people in all countries don't know about cryptocurrency because they still staying traditionally, although some of them trying to use the new things that can help them in their daily life. I agree that we need to educate people around us to learn about cryptocurrency so they can know and try to use crypto like what we did. That will help cryptocurrency grow in our country, and if we can continue to teach people about cryptocurrency, soon many of them will know and use it too.

[eaLiTy]

Probably, what would happen is another cryptocurrency that will take the lead for mass adoption like literally a crypto that will be used by an entire country that possesses a characteristic that is unifying. What I mean is a cryptocurrency that could replace the fiats that we have but will not replace its functionalities to become usable by people. Eventually, the government needs to adjust a lot for other people that are not technologically-inclined so they can utilize it as well.

I am not foreseeing a mass adoption to any cryptocurrency with the current technology, unless we create some other technology so that we will be able to transfer the valuation with a minimal transaction charges, you cannot expect the masses to follow and start purchasing the coin, the government can come up with their version of crypto but i doubt anyone will be using those unless they forces those adoption, so the idea of mass adoption is still a fancy.

The realistic use case of BTCitcoin is to make huge cross boarder transaction which can be used by merchants and traders on a global scale with ease and that is the main use case of BTCitcoin in my opinion.

[maxreish]

In the future, there will be a great possibilities that the cryptocurrency will be accepted by many countries. The technology given of it can change the world's traditional living. This advancement may solve many problems I can see it.
 
But when it comes to fully adopting the way cryptocurrency is use, I can still see some glitches. Unless they can solve the fees, the transactions slow movements and if all will have an internet connection and mobile phones. Then let's see about that.