Can crypto replace other currencies?

[Braulio Eurea 720]

Currently it is very difficult for cryptocurrencies to replace the physical or fiduciary money issued by the central banks of the countries, for the simple reason that this money is legal tender, that is, it is within the legal order of nations, instead cryptocurrencies They are not under the legal system of any country, so it has an uphill battle to replace fiduciary money. However, cryptocurrencies are taking space every day and their presence in the economic and financial world is a reality.

[Onden 2098]

Cryptocurrency cannot replace other currencies because it is not supported by the government, crypto will only become an alternative currency after fiat. In addition, the use of fiat money has been regulated by each country, so it is impossible to replace it unless the government itself replaces it. So in my opinion, cryptocurrency as an investment asset is more profitable than as a transaction tool.

[Cryptonix 135]

I think this is not far off, but at the moment there is probably not enough network power. A lot of transactions, the network is overloaded, the Commission for acceptance in the block is higher. Now imagine what will happen if, for example, bitcoin is used for daily payments around the world. How many transactions will take place each day? A billion? Imagine the cost of a bitcoin transaction online.

[Katynguyen 31]

It is not possible crypto replace to other currency.If crypto legalise all over the world then I think Cryptocurrency will use as physical currency

[hasaan 289]

I hope crypto will replace the currency , but may be we have to go a long way to reach the destination. The main disturbance is the legalization of the btc, the btc could not get the proper respect due to the legal  fact otherwise the btc can replace the currencies. 

[gbfisher 1815]

Well, i think crypto never replace other currencies like fiat because there is very huge population of the entire world who used fiat currency for their daily life expenses and mostly persons dont know any thigg about crypto currency. Only educated persons have ability to understand crypto world and one more reason fiat is officially and legalize currency of every country but mostly countries banned or illegalize crypto in their country so i think both have their own importance. 

[ajabe2 1485]

It is impossible in near future. Many people around the world are not familiar with the use of cryptocurrency even though they live in developed countries. On the other hand, Fiat money in world exchange markets used in almost all global transactions.

[Francisco87 651]

Las criptomonedas no están creadas para eliminar a las demas monedas, sino que están hechas para coexistir con estas y potenciar el mundo de las inversiones, las monedas fiat son un símbolo de cada país y muchas estan respaldadas en oro.

[Sykkuno 2887]

Well you say if crypto can do that but you don't seem to know a lot about what is crypto. We have ten thousand cryptocurrencies and you think that one of them is able to replace all the other currencies that are created by governments? Or one of the cryptocurrencies have a chance to do that?

[Bond07 166]

On 1/6/2020 at 9:34 AM, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

It is already replacing other currencies. People are buying crypto with their fiat money. Total market cap of crypto market is about half trillion usd. 

[Goyaa 2414]

Crypto cannot replace currencies that exist today, because every country issuing fiat as a legal transaction tool and fiat will be protected by their laws. For that reason crypto cannot replace legitimate fiat.

[Emiway 842]

A significant number of people groups posed this inquiry that will digital forms of money supplant fiat monetary standards, and the appropriate response is yes yet it will be far away years to do this.

[Sanjana321 6]

In present situation the crypto currency can not replace other currencies because it is not that much popular and also it is not used as a exchange system by 2 person but in future there is a great chance of becoming a equal to that of other currencies.

[The Game 2059]

Crypto currency can not replace all the currencies that exist however fiat currency is legalize, recognize and the most popular currency worldwide which makes it friendly among traders and in the aspect of bitcoin is decentralize by the government and it supports the anonymous features which makes it untraceable after transaction and that is why the government is not convince about adoption of crypto currency. But we all hope the best for crypto currency in the nearest future.

[Yoanny 232]

It doesn't have to replace them, I mean they can coexist with each other just as they do today. Humanity has been using multiple currencies for a long time and they do not replace each other, what they offer is variety, you will use the one that suits you best.

[Amr90 1064]

Crypto is not expected to control the means of payment and transactions, and it may be an alternative in some companies or transactions.
I think when the Bitcoin mining ends after 100 years, crypto will be one of the most important means of dealing, but the cash will be there, maybe cash in the form of credit and not cash.

[Zafar123 906]

Summary. Bitcoin could potentially replace the U.S. dollar as the world's reserve currency, but for this to happen, the digital currency would need to make progress in several important areas. Currencies serve as a medium of exchange, a store of value and a unit of account.

[Amiami 1362]

It is very difficult for cryptocurrencies to dominate and create hegemony over the market, since since they are decentralized, the support they have depends solely on their community, many governments do not promote the adoption of cryptocurrencies and therefore will not renounce their economic power, An example would be the United States and its dollar, being the default currency used in international transactions, would not let that business disappear

[abohasnn9 2401]

My friend, this is possible for the distant future. Currently, it is difficult for us to give up physical currencies. Our life is all cash that we will not be able to remove from the market, but in the future it may become something like this thank you

[Anzaatta 379]

Yes I try to make the summary that is cryptocurrency replace other currencies ?According to the research Bitcoin could potentially replace the US dollar as the world reserve currency.,but for this to happen, the digital currency would need to make progress in several important areas. currencies serve as a medium of exchange, a store of value and a unit of account.

[Msh9 84]

Yes, my friend, I expect this and that encryption will replace all currencies, but it needs an increase in support, development and an increase in its members.

[scofield64 943]

Crypto can never replace other currencies. Other currencies also play their rules in the economy. Cryptocurrencies is a digital currency that can only be used online. So you can see that fiat currency is needed for day to day transaction. 

[Prince MS 168]

Crypto will not replace other currencies but it will overtake other investments and become the most easy, reliable and profitable business investment in the world. 

[Raven 7817]

On 1/6/2020 at 11:34 AM, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

Of course not, crypto currency is decentralized which means it is not stable so it is very risky to used it as a our common currency. Crypto currency is not acceptable in every country in the whole world so it cannot replace our fiat currency.

[The shiekh 793]

Well in my opinion these crypto currencies will not replace the other currencies like fiat. But in future,there must be possibility that they both will work together. Thanks for the topic.