Will cryptocurrency replace other currencies?

[Strongkored]

I'm not sure whether the goal of your project coin will be successful or not. But here, I will comment on whether cryptocurrencies are able to replace currencies. I think this will be very difficult to happen and will not happen. Currencies issued by the government are the result of a system. If you want to replace it, maybe you should also step in and tear down the system. And this is not possible because a country still has its system and governance. Maybe cryptocurrency can be one of the currencies in a country, but not to replace it.

A system that has been running for centuries and has been accepted on all fronts will be difficult to change or can be said to take time to change it, which is why the doubts always raises that crypto can replace fiat and until now it seem difficult to happen, even to make the government at least accept cryptocurrencies especially Bitcoin just an alternative to fiat still difficult to implement, moreover until now country that accept Bitcoin as legal tender has not shown a good change in the country

[Sanni_w]

I don't believe crypto will take over Fiat, however, they can coexist. We need Fiat no matter wha, especially in the 3th world country where Fiat is highly depended on.

[Altryist]

A system that has been running for centuries and has been accepted on all fronts will be difficult to change or can be said to take time to change it, which is why the doubts always raises that crypto can replace fiat and until now it seem difficult to happen, even to make the government at least accept cryptocurrencies especially Bitcoin just an alternative to fiat still difficult to implement, moreover until now country that accept Bitcoin as legal tender has not shown a good change in the country

Once upon a time, in the role of fiat money, people used pebbles, or something like that, but then the time came for fiat money as we know it today. Time will pass and there will be only digital currencies in the world, and cryptocurrencies will have their important place in this system. This takes time, everything cannot happen immediately, there must be a period of acceptance and adaptation, this is normal.

[kamvreto]

That's possible but hard to happen in the current situation that we have right now. Cryptocurrency needed to be recognized and considered by people as well as the government and would mind using it and adapting it to replace other currencies. But since some countries' governments see it as a threat, its growth is being hindered. It will take time before people could see its worth and adopt it to replace other currencies.

Cryptocurrency is currently only an optional payment that can be chosen other than fiat, and it also depends on how the regulations are enforced in several countries.
some countries recognize and adopt them, but some other countries ban cryptocurrencies. this will indeed take a long time to be fully accepted, but replacing fiat currency is still a long way away and it is not certain that it will happen.

[tygeade]

I'm not sure whether the goal of your project coin will be successful or not. But here, I will comment on whether cryptocurrencies are able to replace currencies. I think this will be very difficult to happen and will not happen. Currencies issued by the government are the result of a system. If you want to replace it, maybe you should also step in and tear down the system. And this is not possible because a country still has its system and governance. Maybe cryptocurrency can be one of the currencies in a country, but not to replace it.

A system that has been running for centuries and has been accepted on all fronts will be difficult to change or can be said to take time to change it, which is why the doubts always raises that crypto can replace fiat and until now it seem difficult to happen, even to make the government at least accept cryptocurrencies especially Bitcoin just an alternative to fiat still difficult to implement, moreover until now country that accept Bitcoin as legal tender has not shown a good change in the country

Just because something has been accepted for centuries doesn't mean that it will be like this forever. I mean remember that back in the day people used gold, then people used storing houses for gold and instead got credit papers that showed their deposits, then they exchanged those credit papers instead, then we started to move all the way to banknotes governments issue which was backed by gold, and now we have papers that are based on absolutely nothing. It already changed big time.

I am not saying it will be crypto that will change it again, but I can say that it will change, just because it has been used for a long time doesn't mean it won't change.

[posi]

I'm not sure whether the goal of your project coin will be successful or not. But here, I will comment on whether cryptocurrencies are able to replace currencies. I think this will be very difficult to happen and will not happen. Currencies issued by the government are the result of a system. If you want to replace it, maybe you should also step in and tear down the system. And this is not possible because a country still has its system and governance. Maybe cryptocurrency can be one of the currencies in a country, but not to replace it.

A system that has been running for centuries and has been accepted on all fronts will be difficult to change or can be said to take time to change it, which is why the doubts always raises that crypto can replace fiat and until now it seem difficult to happen, even to make the government at least accept cryptocurrencies especially Bitcoin just an alternative to fiat still difficult to implement, moreover until now country that accept Bitcoin as legal tender has not shown a good change in the country

Just because something has been accepted for centuries doesn't mean that it will be like this forever. I mean remember that back in the day people used gold, then people used storing houses for gold and instead got credit papers that showed their deposits, then they exchanged those credit papers instead, then we started to move all the way to banknotes governments issue which was backed by gold, and now we have papers that are based on absolutely nothing. It already changed big time.

I am not saying it will be crypto that will change it again, but I can say that it will change, just because it has been used for a long time doesn't mean it won't change.

Have you noticed one thing that even if there is a change, the government can still control it, gold is not created by the government but they can control it? We are in a civilization that is constantly evolving so everything will be changed by something newer and better but it is still created and controlled by the government, there cannot be decentralized or unregulated crypto used instead. CBDC could be the next currency we will use.

[Abiky]

First of all we need to spread the knowledge about cryptocurrencies to the people. Because, 70% people still didn't know much about crypto world. When they will come to know then they will be able to use. And then crypto world be able to replace the other one.

Yes. But even with that, I don't think it will be possible for crypto to replace mainstream Fiat currencies. First of all, governments wouldn't allow it because that would mean losing control over people's finances. And second, there's the issue of volatility and limited Internet access worldwide. We can't expect Bitcoin or any other cryptocurrency to replace Fiat when such limitations/obstacles exist. It's been 13 years since Bitcoin's inception, but crypto/Blockchain tech still hasn't replaced Fiat.

At this stage, we could say crypto will remain as an alternative to the existing monetary system for the foreseeable future. I'm fine with that as long as it stays decentralized. Just my thoughts

[Dickiy]

In my opinion, it is very possible to replace FIAT money with CRYPTOCURRENCY where crypto provides many conveniences, but it takes a long time because we realize that currently there are still many internet technology infrastructures that have not been built and many more who cannot use digital technology and the internet properly. . Meanwhile, there are still many weaknesses in this technology such as data theft, account hacking, blockchain hacking, and wallet hacking, and this is what makes it still hesitant to use it. in using it. I think when everything is maximized and risks are minimized in its use, people will dispel their doubts on this earth.

[wxa7115]

I'm not sure whether the goal of your project coin will be successful or not. But here, I will comment on whether cryptocurrencies are able to replace currencies. I think this will be very difficult to happen and will not happen. Currencies issued by the government are the result of a system. If you want to replace it, maybe you should also step in and tear down the system. And this is not possible because a country still has its system and governance. Maybe cryptocurrency can be one of the currencies in a country, but not to replace it.

A system that has been running for centuries and has been accepted on all fronts will be difficult to change or can be said to take time to change it, which is why the doubts always raises that crypto can replace fiat and until now it seem difficult to happen, even to make the government at least accept cryptocurrencies especially Bitcoin just an alternative to fiat still difficult to implement, moreover until now country that accept Bitcoin as legal tender has not shown a good change in the country

Just because something has been accepted for centuries doesn't mean that it will be like this forever. I mean remember that back in the day people used gold, then people used storing houses for gold and instead got credit papers that showed their deposits, then they exchanged those credit papers instead, then we started to move all the way to banknotes governments issue which was backed by gold, and now we have papers that are based on absolutely nothing. It already changed big time.

I am not saying it will be crypto that will change it again, but I can say that it will change, just because it has been used for a long time doesn't mean it won't change.

Correct, while we will need some form of money in order to keep the economies of the world running, the nature of that money will change as our technology advances.

Digital money is the dominant form of money of this day as it is very practical compared to its psychical counterpart, this development eventually allowed Satoshi to develop bitcoin and then for governments to develop CBDCs, and this will eventually lead us towards yet another round of developments, it just that we do not know when this will happen as it is difficult to imagine what could be better than bitcoin.

[Ozero]

In my opinion, it is very possible to replace FIAT money with CRYPTOCURRENCY where crypto provides many conveniences, but it takes a long time because we realize that currently there are still many internet technology infrastructures that have not been built and many more who cannot use digital technology and the internet properly. . Meanwhile, there are still many weaknesses in this technology such as data theft, account hacking, blockchain hacking, and wallet hacking, and this is what makes it still hesitant to use it. in using it. I think when everything is maximized and risks are minimized in its use, people will dispel their doubts on this earth.

Cryptocurrency cannot replace fiat, even if it could. Fiat belongs to the states, and in the states there are a lot of ways to protect their currency from any encroachment. Therefore, as long as states exist, their national currency will also exist. Cryptocurrency should strive to occupy its niche in the global financial system and coexist peacefully with fiat states. That's the only way she can survive.

[monineklutak]

First of all we need to spread the knowledge about cryptocurrencies to the people. Because, 70% people still didn't know much about crypto world. When they will come to know then they will be able to use. And then crypto world be able to replace the other one.

The replacement of other currencies with cryptocurrency is possible only if and only if it is accepted by the government. It is inevitable that cryptocurrency will become more popular but it will never be able to replace the current currency, the government will never let that happen.

If that happens I think the process is also not easy and will take a very long time,
but I still have the opinion that crypto can't replace the current currency,
we'll see what the future will be like because we certainly don't know what will happen next

[serjent05]

I have no idea if FMCpay will be popular or can replace other dominating currencies, but I do believe that a new promising cryptocurrency that delivers have high possibility to replace other cryptocurrencies of their ranking and functionality.  Besides, the cryptocurrency industry is like a battle or competition where the fittest survive.

If that happens I think the process is also not easy and will take a very long time,
but I still have the opinion that crypto can't replace the current currency,
we'll see what the future will be like because we certainly don't know what will happen next

Not really a long time, the cryptocurrency market and ranking as of to date aren't that stable, meaning it isn't set in stone that is hard to change or modify.  It is all about market performance and community building.  If the new cryptocurrency has the capability then it will obviously replace other cryptocurrencies even in a short span of time.

Cryptocurrency cannot replace fiat, even if it could. Fiat belongs to the states, and in the states there are a lot of ways to protect their currency from any encroachment. Therefore, as long as states exist, their national currency will also exist. Cryptocurrency should strive to occupy its niche in the global financial system and coexist peacefully with fiat states. That's the only way she can survive.

True that, and that is the reason why cryptocurrency aim is to be an alternative option.  But somehow, if all the countries recognize Bitcoin as a legal tender then it can possibly compete against state currency.

[KennyR]

In my opinion, it is very possible to replace FIAT money with CRYPTOCURRENCY where crypto provides many conveniences, but it takes a long time because we realize that currently there are still many internet technology infrastructures that have not been built and many more who cannot use digital technology and the internet properly. . Meanwhile, there are still many weaknesses in this technology such as data theft, account hacking, blockchain hacking, and wallet hacking, and this is what makes it still hesitant to use it. in using it. I think when everything is maximized and risks are minimized in its use, people will dispel their doubts on this earth.

Cryptocurrency cannot replace fiat, even if it could. Fiat belongs to the states, and in the states there are a lot of ways to protect their currency from any encroachment. Therefore, as long as states exist, their national currency will also exist. Cryptocurrency should strive to occupy its niche in the global financial system and coexist peacefully with fiat states. That's the only way she can survive.

The governments that were completely against the usage of cryptocurrencies have slowly begun to regulate it. This is happening out of the government understanding the need. Particularly it is evident that people are moving towards it, and government need to make some arrangements to keep things in a balanced way. As suggested coexisting with the traditional system is the better choice than just trying to overcome the traditional currency usage around the globe.

[Dickiy]

In my opinion, it is very possible to replace FIAT money with CRYPTOCURRENCY where crypto provides many conveniences, but it takes a long time because we realize that currently there are still many internet technology infrastructures that have not been built and many more who cannot use digital technology and the internet properly. . Meanwhile, there are still many weaknesses in this technology such as data theft, account hacking, blockchain hacking, and wallet hacking, and this is what makes it still hesitant to use it. in using it. I think when everything is maximized and risks are minimized in its use, people will dispel their doubts on this earth.

Cryptocurrency cannot replace fiat, even if it could. Fiat belongs to the states, and in the states there are a lot of ways to protect their currency from any encroachment. Therefore, as long as states exist, their national currency will also exist. Cryptocurrency should strive to occupy its niche in the global financial system and coexist peacefully with fiat states. That's the only way she can survive.

read a little about the history of the medium of exchange or buying and selling in ancient times from starting to use the barter system then using bronze, silver, and gold coins and what we now use paper money (FIAT) where the evolution of the medium of exchange developed according to the ability of human understanding in its time. therefore I say that it is very possible BITCOIN or other cryptocurrencies add to or even replace the FIAT money used today. my estimate is when 70% percent of the world's citizens understand and know the system or mechanism of how BITCOIN works.

[serjent05]

read a little about the history of the medium of exchange or buying and selling in ancient times from starting to use the barter system then using bronze, silver, and gold coins and what we now use paper money (FIAT) where the evolution of the medium of exchange developed according to the ability of human understanding in its time. therefore I say that it is very possible BITCOIN or other cryptocurrencies add to or even replace the FIAT money used today. my estimate is when 70% percent of the world's citizens understand and know the system or mechanism of how BITCOIN works.

I agree that money evolves and develop but I do not think that cryptocurrency such as Bitcoin and other altcoins will replace fiat currency.  The most it can be is as an alternative mode of payment.  The only cryptocurrency that can replace government-issued fiat is a government-issued cryptocurrency which is centralized in nature.  The major reason why Bitcoin will settle as an alternative because the government won't allow decentralized cryptocurrency to be the main currency of their country.

The governments that were completely against the usage of cryptocurrencies have slowly begun to regulate it. This is happening out of the government understanding the need. Particularly it is evident that people are moving towards it, and government need to make some arrangements to keep things in a balanced way. As suggested coexisting with the traditional system is the better choice than just trying to overcome the traditional currency usage around the globe.

But it isn't enough for the government to let decentralized cryptocurrency take the wheel.  The government will always make these cryptocurrencies on the check.

[Eve Chesterton]

Cryptocurrencies are not a complete substitute for other currencies.
Over time, the demand for it is growing, and the status of cryptocurrencies is strengthening and it is becoming more prominent as a potential investment.

[Nuraiuii]

Cryptocurrencies will not replace national currencies, but will complement other currencies.
The volatility and fragility of cryptocurrencies are not yet accessible to everyone, and there will have to be a period of acceptance and adaptation.

[Yatsan]

Impossible on my point of view. Cryptocurrencies are not even widely accepted around the globe as a mode of payment. Also, it is decentralized and free of taxation and it happened that most  of the governments are not into these characteristics edpecially for a currency. Using Third party wallet would still use fiat which means that it won't be totally replaced by this technology.  Also, the market value of cryptos are naturally volatile which is a downside especially for non-investors. There's even a higher tendency for these two systems of currencies to co-exist with one another.

I have no idea if FMCpay will be popular or can replace other dominating currencies, but I do believe that a new promising cryptocurrency that delivers have high possibility to replace other cryptocurrencies of their ranking and functionality.  Besides, the cryptocurrency industry is like a battle or competition where the fittest survive.

If that happens I think the process is also not easy and will take a very long time,
but I still have the opinion that crypto can't replace the current currency,
we'll see what the future will be like because we certainly don't know what will happen next

Not really a long time, the cryptocurrency market and ranking as of to date aren't that stable, meaning it isn't set in stone that is hard to change or modify.  It is all about market performance and community building.  If the new cryptocurrency has the capability then it will obviously replace other cryptocurrencies even in a short span of time.

Cryptocurrency cannot replace fiat, even if it could. Fiat belongs to the states, and in the states there are a lot of ways to protect their currency from any encroachment. Therefore, as long as states exist, their national currency will also exist. Cryptocurrency should strive to occupy its niche in the global financial system and coexist peacefully with fiat states. That's the only way she can survive.

True that, and that is the reason why cryptocurrency aim is to be an alternative option.  But somehow, if all the countries recognize Bitcoin as a legal tender then it can possibly compete against state currency.

But how would it be possible and is it even competing included on its ourpose? It is enough to use it as an alternative and using it as an investment is huge bonus.

[glendall]

I don't think crypto will and can replace fiat, even though the value of fiat is getting lower and even worthless later, because basically fiat has become the currency of every country and is recognized by the world,
even if it has to turn digital, I think the state/government will create digital money.
the government is very afraid of the value of crypto which has high volatility and the price is unstable the main reason why until now crypto has never been recognized

[crutu]

Is this a chance for cryptocurrency to replace other currencies?

The economy is inflationary, at risk of a downturn. As a result, cash and traditional currencies constantly lost their value. Therefore, in Europe, their citizens decide to invest in cryptocurrency as their solution because everyone can make money by investing and trading crypto. According to FMCPAY Exchange, the number of new registers from Spanish has been increasing since last week. There are thousands of people from Spain submitting their KYC information everyday on this platform.

this is only a temporary diversion so that people can be productive by choosing to trade and invest in cryptocurrencies, completely crypto will not replace the local currency they use.  the more people who use crypto will be able to boost its popularity and affect its price increase