what if crypto currency investment is a must for future survival

[aoluain]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

I dont think so, there are 3 basic necessities to human survival after Oxygen are
food, water and shelter. In the 21st food and water for the vast majority of people
are directly linked to currency and in an emergency cash would be the go to means
of trade and to a lesser extent a barter system.

Bitcoin isnt even used by the majority of the worlds population, it is still pretty much a niche
technology and will be seen as an asset more than a currency for some time to come

[m2017]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

I dont think so, there are 3 basic necessities to human survival after Oxygen are
food, water and shelter. In the 21st food and water for the vast majority of people
are directly linked to currency and in an emergency cash would be the go to means
of trade and to a lesser extent a barter system.

Bitcoin isnt even used by the majority of the worlds population, it is still pretty much a niche
technology and will be seen as an asset more than a currency for some time to come

OP uses the wording cryptocurrency in his post, not bitcoin. I agree with your statement about bitcoin, but it is inevitable that fiat currencies will be abolished by governments of all countries. Sooner or later. Instead of traditional "paper" forms of money, cryptocurrencies will be used - CBDCs. Because CBDC gives the regulator control over the financial flows of citizens - this is unlimited power (who would refuse this?).

The transition from paper money (including electronic banking) to CBDC can be considered the next stage in the evolution of money.

[cryptomaniac_xxx]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

I dont think so, there are 3 basic necessities to human survival after Oxygen are
food, water and shelter. In the 21st food and water for the vast majority of people
are directly linked to currency and in an emergency cash would be the go to means
of trade and to a lesser extent a barter system.

Bitcoin isnt even used by the majority of the worlds population, it is still pretty much a niche
technology and will be seen as an asset more than a currency for some time to come

OP uses the wording cryptocurrency in his post, not bitcoin. I agree with your statement about bitcoin, but it is inevitable that fiat currencies will be abolished by governments of all countries. Sooner or later. Instead of traditional "paper" forms of money, cryptocurrencies will be used - CBDCs. Because CBDC gives the regulator control over the financial flows of citizens - this is unlimited power (who would refuse this?).

The transition from paper money (including electronic banking) to CBDC can be considered the next stage in the evolution of money.

I don't know if that is going to happened? You mean that the traditional and old system that was build by the rich and oligarchs are going to be abolished in favor of cryptocurrency? I highly doubt that.

First, the banking system institutions, it strengthen countries economies. And without it, the country will collapse. So I don't think that they will become obsolete and replace.

Second, crypto or CBCD could be centralized, but I highly doubt that the government are willing to used it. There will still be a lot of advantage for them to have paper money and very hard to removed it, in my opinion.

Although I love crypto, the only option here is for both system to work together, not getting rid of the other one.

[virasog]

OP uses the wording cryptocurrency in his post, not bitcoin. I agree with your statement about bitcoin, but it is inevitable that fiat currencies will be abolished by governments of all countries.

If you want to invest in something for the future, then it is only Bitcoin and no altcoins. Cryptocurrencies contain both bitcoin and altcoin and if someone think if he can hold any altcoin for some years, than he is taking a lot of risk. We know that most of the altcoins won't survive more than four years (bitcoin cycle) and even if they do, the prices for them stays low or at the same price levels. It is only bitcoin which is always increasing in price and you can change your fortune only if you can hold and save your bitcoins.

[FytsFitness]

Awesome question. Im new here. If i could guess Id stay Ethereum. cause it has alot of virtual world application. these brains need to go into machines once the world is gone

[bitcoin_stealer]

As you see nowadays some countries like Salvador already adopt Bitcoin as legal tender.

[Graph001]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

I would deny the idea that cryptocurrency is essential for the future of survival. Here I am speaking from my perspective. While the adoption of cryptocurrency has increased significantly, most of our daily needs such as food, housing, healthcare, education are still met with traditional currencies. You can also better ensure your financial security by having stable employment, savings, and investing in traditional established assets such as stocks, bonds, and real estate.

Since cryptocurrency remains highly volatile and speculative, there is a possibility of losing money. If you are a believer in crypto, you can consider it as a part of your investment. It is reasonable not to view it as mandatory. No single investment is essential for survival. Creating multiple skills and income streams is more important than any single investment. What you can do to benefit is to understand blockchain technology and digital finance concepts and apply them in the right places.

[Jubilee58]

It is worth knowing, that cryptocurrency is the most risky asset that people can invest, though  there are traders who are being survived by cryptocurrency trading and investing, and even upon that there are situations where they loose their money , and at this point they become emotionally unstable as they try to recover from the trauma of loosing their money.

In this month of October, you can see how unstable the cryptocurrency market is, there was very huge liquidation in the market, and investors have not recovered from their huge loss, and the confidence of so many people are still shaking, more especially those who have their investment outside bitcoin .

Cryptocurrency investing is not a get rich quick investment, the market is very volatile and full of many scam coins, so therefore one can not just jump into it without knowing how the market works.

I want to let us know that many have lost their hard earned money investing in cryptocurrency, last time in this forum, I read a story of someone who committed suicide because of the huge amount of money he lost trading cryptocurrency, and many other ugly stories that we use to hear about cryptocurrency, and i believe such a risky investment can not be a yardstick for future survival.

Presently, the most trusted cryptocurrency is bitcoin, because of the increasing interest and adoption by institutions and some countries of the world, and even upon that people still trade it with caution.

[Fiasem20]

Even in the future to come fiat currency would still be of use, cryptocurrency can't just kick out our traditional currency.Though,the use of crypto can be effective on online payment in times of lock down and pandemic,just like the period of the COVID-19 pandemic where the lock down practice was strictly observed that people couldn't go to the market to purchase goods with fiat currency,the use of crypto payment was also an alternative to purchase goods on the internet.By the way, bitcoin and cryptocurrency invention primary goal wasn't to dominate and takeover any traditional currency,the rapid adoption rate doesn't necessarily mean our fiat currency would be obsolete in the future.

[Dareo]

Even in the future to come fiat currency would still be of use, cryptocurrency can't just kick out our traditional currency.Though,the use of crypto can be effective on online payment in times of lock down and pandemic,just like the period of the COVID-19 pandemic where the lock down practice was strictly observed that people couldn't go to the market to purchase goods with fiat currency,the use of crypto payment was also an alternative to purchase goods on the internet.By the way, bitcoin and cryptocurrency invention primary goal wasn't to dominate and takeover any traditional currency,the rapid adoption rate doesn't necessarily mean our fiat currency would be obsolete in the future.

Fiat currency, is still the mainstay of governments banks and international trade. Every country s economy relies on fiat and no financial system is stable without government control. However it is also true that crypto is slowly gaining popularity as an alternative to fiat especially where banking infrastructure is weak or international transactions are complicated. Although this decision has been controversial it shows how real the potential of crypto is. Fiat will remain for government controlled economies while crypto will be used for independent digital transactions or decentralized investments.

[LOVER BOY 422]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

It will be hard considering the fact that in Nigeria many don't even know about Bitcoin or any other trade so putting it as a mandate for them to know about cryptocurrency investments it be absolutely difficult for many,trading is not just a day task as people may think ,you need your sense to work absolutely before one can trade, considering the fact that many don't have good brain enough to follow up how the market is going,but most people can but many can never make in the line of cryptocurrency investments trade.

[7juju]

Even in the future to come fiat currency would still be of use, cryptocurrency can't just kick out our traditional currency.Though,the use of crypto can be effective on online payment in times of lock down and pandemic,just like the period of the COVID-19 pandemic where the lock down practice was strictly observed that people couldn't go to the market to purchase goods with fiat currency,the use of crypto payment was also an alternative to purchase goods on the internet.


By the way, bitcoin and cryptocurrency invention primary goal wasn't to dominate and takeover any traditional currency,the rapid adoption rate doesn't necessarily mean our fiat currency would be obsolete in the future.

That is something some people haven't realised, some people are believing that crypto has come to wipe out the use of fiat but that is not true. Even in million years to come fiat and crypto will keep existing together because they both need each to function effectively. An investor needs fiat to buy crypto and also need fiat when he wants to sell and hold physical cash to buy things in shops and businesses that don't accept bitcoin or alternate coins. Since fiat is physical form of money and crypto is digital money, each will keep having their role to play till the end of time.

[palle11]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

It will be hard considering the fact that in Nigeria many don't even know about Bitcoin or any other trade so putting it as a mandate for them to know about cryptocurrency investments it be absolutely difficult for many,trading is not just a day task as people may think ,you need your sense to work absolutely before one can trade, considering the fact that many don't have good brain enough to follow up how the market is going,but most people can but many can never make in the line of cryptocurrency investments trade.

If people don't know about the use of bitcoin today doesn't mean they won't be in the future because OP's question is in the future. There are certain innovation and creation that people are rushing into now that they never wanted to go into. I know some people who vowed not to use bank account or bank app but because the pressure is there from customers to use a modern and faster payment method, they are forced to learn it to avoid losing their customers. Today many businesses are present online. Illiterate people are all running their businesses online because that is where the visibility is especially since smartphones and android came up. With COVID-19, online has become an easy access to businesses reach. So if more people begin to use btc, more people will be forced to it because they have to follow their customers need for services and payment.

[LastKiss]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

Crypto could definitely become a strong secondary option in global finance, but completely replacing fiat currency is unlikely. Governments need their own national currencies because they want control over monetary policy. If fiat ever starts losing value, countries will take action to stabilize it, something they’ve consistently done throughout history.

As for investing, long term in crypto will only apply to a few strong and sustainable projects not all of them. Many of today’s top cryptocurrencies may not remain in the top ranks in the future, LUNA is a perfect example of how quickly a major project can collapse. And just like fiat, crypto can also lose value when measured against real goods and services.

[Pauldesaints]

The possibility of such is at 0% because it will be difficult.dont you know as the environment keep changing government keep changing too the new digital world so it's not going to happen as long as human exist.

[@prashant]

Lets assume hypothetically, In that situation people will not rely on banks. Crypto could become the main way to trade for supplies and survival. But it would also bring problems since everyone would need electricity, internet and some tech knowledge. In this kind of future crypto might keep society running but it would also create new challenges for people everywhere. Those who have technical knowledge about rigs and have access to electricity and the internet would adapt more quickly while others might find it hard just to purchase basic necessities. Instead of battling for land or oil groups could fight for control over mining facilities or server network that support cryptocurrency. Billionaires will attempt to shut down or seize blockchain systems to dominate the economy.

[avp2306]

Lets assume hypothetically, In that situation people will not rely on banks. Crypto could become the main way to trade for supplies and survival. But it would also bring problems since everyone would need electricity, internet and some tech knowledge. In this kind of future crypto might keep society running but it would also create new challenges for people everywhere. Those who have technical knowledge about rigs and have access to electricity and the internet would adapt more quickly while others might find it hard just to purchase basic necessities. Instead of battling for land or oil groups could fight for control over mining facilities or server network that support cryptocurrency. Billionaires will attempt to shut down or seize blockchain systems to dominate the economy.

That's why its not sustainable because if we talk about these matter there are provably lots of challenges that we need to face.

First natural disaster usually came and that can affect electricity on our places. If the situation like it will take for more longer days or months before electricity will get back to normal for sure that we will struggle especially if we really on cryptocurrency investment or even with other earning activity to survive. Also there are legal and other factors that can affect our investment that's why those thinking about they can rely on their cryptocurrency investment is just a dream for now.

That's why I don't see those situation really possible and we need other earning option to survive and sustain our needs.

[atookz]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

Fiat currencies have a history of losing their value at a high rate in such events as crises, pandemics, or war. Thus, cryptocurrencies that are not influenced by governments are less vulnerable to these failures. Probably, the whole world will start to change their value system, which is easier to support, and crypto might be one of the possible options instead of fiat money. I concur that crypto may be a requirement in future in such a situation. It is not that it is better, but that the uncertain conditions demand a liberal, world and free value system.

[Alpen]

What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .

Your opinion is valid!

If we are talking about an apocalypse scenario, people will trade in gold and silver. Fiat money is worthless, as the governments printing it are already drowning in debt.

Digital money’s value is defined by technology. If there is no electricity, there is no security for Bitcoin.

I’ve started buying silver and gold just for a 'rainy day'—you can't carry too much on your back, after all. But in a total doomsday scenario, I put more faith in my wilderness survival skills than in digital currency.

As for the peaceful future of crypto, it is determined by a simple ratio: the speed of quantum computing development divided by the speed of quantum resistance development. I haven't heard anything about quantum resistance yet. Bitcoin doesn't even have a roadmap for it. Therefore, at the moment, the long-term survival probability of cryptocurrencies is effectively zero.