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

[matchi2011]

Anyway there would have to be a worldwide economic collapse in order for crypto to take over the financial system.  And honestly, I would *not* want to see a situation like that.

I just thought of an idea about the what you stated regarding worldwide collapse, could it be possible that the reason for this is bitcoin itself? Then the main correction in the market will happen with bitcoin itself, because as of the moment, many government do not want the adoption of bitcoin, and people are also stating that they don't want to be held by the banks so they want to have and be their own banks. In that sense, if people will not utilize the fiats that they have, it can induce a huge collapse of their financial stability and the reason is because of bitcoin. Though, I highly believe that bitcoin will also be the reason for them to get back their financial stability as well.

I don't see the possibilities as government will continue to be in control of their financial institutions to the extent that they will chased system like crypto to protect their fiat. For now, the chance of being adopted is much better to prioritize than to think that the whole financial system will be changed to crypto currency. We will look for more factors that will lead things to complete change between two system.

[msarro]

Crypto is an infant child and running the world economic affairs on bitcoin doesn't seem feasible in current circumstances. I personally think that bitcoin is good for private use but because of its anonymous nature it can't be used at state level. As time pass things will get more transparent regarding bitcoin usage.

[Sahyadri]

I dont think something which is this anonymous and decentralised should be used solely to run the world trade. There should be a centralised authority responsible for looking up the transactions. I understand that crypto tx are safe and free of any manipulation. But price can be manipulated illegally. If there's no one to look after it. That will create an unavoidable imbalance in the economy and no one would want that.
Cryptos should be used along with fiat as a payment mechanism. World shouldn't depend solely upon these decentralized cryptocurrencies. 

[Reatim]

Crypto is an infant child and running the world economic affairs on bitcoin doesn't seem feasible in current circumstances. I personally think that bitcoin is good for private use but because of its anonymous nature it can't be used at state level. As time pass things will get more transparent regarding bitcoin usage.

we have been 10 years in circumstances and continues running so i think this will not take another long years before Bitcoin can be in Mainstream.

private using is indeed but we need this in public for the more functional and more valuable use.

i cant wait to see that sooner the world will be run by cryptocurrency though the presence of fiat will remain as secondary to crypto.

[SARA ISLAM]

It is really possible that Cryptocurrencies are used as fiat currency all over the world. Stable Cryptocurrencies can be used for future currency. Cryptocurrencies that are not stable, we can not think of those currencies as fiat currency. If the people use Cryptocurrencies with a large number and all technology is available, then  Cryptocurrencies can run the world.

[Bitcoinislife09]

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.

It can be realistic if this will be supported by the government, because many countries ban cryptocurrency. So, even though there are many people using cryptos if there is a barrier, the crypto will only revolve around the countries that are able to use cryptocurrency freely. You're right that we should be optimistic about the cryptocurrency in the future. Surely the cryptocurrency will be recognized by a lot of companies and could easily be used as digital cash or currency like what happened to bitcoin it was already use in a few companies as a payment method.

[Ucy]

*run on real Blockchain/cryptocurrencies*

If cryptocurrency communities could do things better than governments in the area of regulation (self-regulation esp) nothing can stop us. We should be swift in dealing with crypto crimes and preventing them altogether. 

*The key is to be ruled by laws that are extremely hard to circumvent*

To be honest, the decentralized world has been fairly immuned to many of the problems affecting the governments and centralised communities. So I think it is safe to say that "luck" will always be on our as long as we continue to do things right. No lawlessness! No tolerance for lawlessness!
 Both the governments and the people need to be regulated or ruled by systems like Blockchain. Blockchain & other similar platforms appear to be one of the most effective ways to keep lawlessness under check. Everyone must be subjected to this fair system. 
I don't not understand why a "honest person" will be so scared of real Blockchain/decentralization. I believe simple & effective education will help.

[Cacingkemi]

It is really possible that Cryptocurrencies are used as fiat currency all over the world. Stable Cryptocurrencies can be used for future currency. Cryptocurrencies that are not stable, we can not think of those currencies as fiat currency. If the people use Cryptocurrencies with a large number and all technology is available, then  Cryptocurrencies can run the world.

however cryptocurrency must first obtain legality from the government, if most countries are able to formalize crypto as a method of payment it is likely that cryptocurrency can be used like any existing fiat currency

[Mejoress]

All the governments are working in their own cryptocurrencies, is a fact and also the first step. Once cryptocurrencies are globally accepted, if there is a stable independent cryptocurrency, like bitcoin, is when the global economy could change

[Asuspawer09]

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 completely agree and in my opinion, it is really possible as technology rises we are getting exposed to this kind of unique technology like digital currencies.
For me in the future, this could be what we could use to make it easier for us to make a transactions and also to store our money just like a cryptocurrency which is digitally stored in your digital wallet.
I have no doubts it is already used in some parts of the world or some other countries.

[buwaytress]

Correct, if the government will give permission and adopt crypto system then it will be able to allow the entire nations to use crypto same  like with how normal fiat and other digital money was been used. It's about how things will be handled by the rules of each countries, the jurisdictions will be the deciding factors.

The number of people in this space who actually think this is shocking. Not surprising to me anymore but shocking nevertheless.

I am using bitcoin and any number of people I transact with do the same. Tell you what, we don't need or want permission. We'll be happy if the state allows it and facilitates, but we're okay either way and we don't need their greenlight.

The day we're all looking for permission is the day we've lost the plot.

[thirdlight]

All the governments are working in their own cryptocurrencies, is a fact and also the first step. Once cryptocurrencies are globally accepted, if there is a stable independent cryptocurrency, like bitcoin, is when the global economy could change

I think that's unlikely to happen, and if it does, in a few decades, because Bitcoin can't compete with the dollar.

[Zionatin]

Crypto is an infant child and running the world economic affairs on bitcoin doesn't seem feasible in current circumstances. I personally think that bitcoin is good for private use but because of its anonymous nature it can't be used at state level. As time pass things will get more transparent regarding bitcoin usage.

Bitcoin is already transparent. You should know that. If the world can run on fiat it can certainly run on bitcoin or any other crypto for that matter. Right now I am also happy with using crypto for private uses and private buys rather than large scale commercial use.

[Ozero]

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.

No, our society will never switch exclusively to the use of cryptocurrency. For this, it is necessary that all states abandon the use of their national money. However, I am quite sure that not only some part of this will not do it, no state will ever abandon its currency. Cryptocurrency will be used in conjunction with the usual currency of states and there is no other alternative to it.

[qiwoman2]

We need to change a few economic systems fundamentally, like turn to a semi resource-based economy and also smaller governance, or microeconomic self-regulating bodies, or communities, with which to build this type of cryptocurrency infrastructure. So if we had more powerful local self-governance, more autonomy for small villages and townships and less federal government and central banks control, then the answer is yes. We need to develop a more civilized approach to wealth sharing and also resource sharing. This way each township or village could generate its own local coin or token and tokenize its whole commercial infrastructure and generate wealth by having a limited supply currency instead of the FIAT we have today which devalues yea rin and year out and makes generations impoverished. We need to look at money in a whole new light and crypto at least has opened to us a window into what it could be like if we use our imagination and will ourselves out of this slave system.

[aamirsuh]

If the world starts to trade with Cryptocurrency completely or to a great extent, there will be huge changes. Why? Because the state is behind the money. There is no state behind Bitcoin or any altcoin. A world run by companies?

[MicaleFalcon]

The use of cryptocurrency will increase further in the future. Many countries will accept cryptocurrency. And will accept them as secondary currency because each country has its own currency. But cryptocurrency will dominate the international market.

[Blackdeath]

In my own opinion, it could be possible that the world would run cryptocurrencies because i heard that there are stores all over the country who are already accepting crypto as payment, and people would still used fiat in some of their transactions when paying bills, so there would be no any problem when it comes to the economy of a country, yet there are still countries who are not favorable with crypto, so it will take long for crypto to be used in the real world.

[the rise]

In my own opinion, it could be possible that the world would run cryptocurrencies because i heard that there are stores all over the country who are already accepting crypto as payment, and people would still used fiat in some of their transactions when paying bills, so there would be no any problem when it comes to the economy of a country, yet there are still countries who are not favorable with crypto, so it will take long for crypto to be used in the real world.

has run smoothly on a microeconomic scale even though it can only see this activity in developed countries. The only obstacle today is only from the government because they determine what can be fully accounted for. If the government only sees from the circulation of unstable price developments, they must be able to start the reform steps as a legal macro investment asset first as the initial foundation.

[pawanjain]

If we talk about the future then I would definitely say yes. There are definitely a good number of chances that the cryptocurrencies will be used as a mainstream method of payments.
I am not saying that bitcoin will be used globally but there will surely be cryptocurrencies used around the world for day to day transactions. Governments will soon realize the potential and convenience of cryptocurrencies and will probably soon adopt it. Technology is advancing every decade and so are the people. I am quite sure that within the next 1 or 2 decades, most of the people will be educated enough to use a computer/phone and complete a successful crypto transaction. So according to me, the future is very bright for cryptocurrencies.