Can crypto replace other currencies?

[Chief executive officer band 681]

It is scarcely as a result primitive to verbalize cryptocurrency preserve swap the fiat currency, but nonetheless we will pay a visit to it in the upcoming that, this humankind take the place of our globe. 

[Digital 387]

Crypto currency will replace traditional currency by 2030 the statement was made by a blockchain expert called Deutche bank according to what he predicted and his prediction have been welcomed by blockchain industry but I can't believe his prediction because if crypto currency replace traditional currency with what can we determine the value of a coin? .

[muniral4422 185]

We are picturing that crypto will replace fiat but not anytime soon. This is because to use crypto fully we need to be in a digital age wherein everything is done digitally. It might not happen now but in the future crypto will replace fiat totally.

[joemcgwa 3227]

Cryptocurrencies to replace fiat currencies is possible, but this will be possible once the whole world use crypto mostly more than using fiat currencies.

[Projectcrypto 4382]

Government will never allow Cryptocurrency to replace the bank note for the reason that it is volatile and no one can control it price unless demand and supply. Cryptocurrency is becoming popular everyday in the world and i believe it will one day be used generally for purchasing materials but only as an alternative to the bank note.

[Mark wood 2970]

Yes dear im new here and I don't have idea about that so I have same question, I'm still searching for that and I read most of the comments for my knowledge and I hope some expert members will solve my problem because here members are so helpful they really help me for understanding all the rules of cryptotalk..

[percare 3192]

On 1/6/2020 at 5:34 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? 

No you haven't understood exactly what bitcoin is about friend, it is not about replacing all the currencies of the world but helping people when the currencies and banks fail to have an exit plan. If trust in an economy is lower for some reasons bitcoin can help some people but not everyone will use it at least not now. Most still think it is a scam and that someone controls it which if false.

[Dorjoy12 8962]

No matter how many new currency get launched in crypto world but old is best and no currency can replace the old currency still.. Becuase btc is the first currrency of crypto world and then lot of new currency get invented to replace the btc currency.. Unfortunately no currency able to replace btc..so without any doubt new currency cant replace the old one                 

[Irungu 4299]

To some extent , its a good thing to work with it, the right idea is to make sure that we are all working with the same concept. its important we are all of us to really keep on doing the right thing.

It can be replaced, but its going to take a lot of time and a long one for that.

[Naylor89 1223]

It's is very likely but requires time. New financial technologies, from where the cryptocurrency has appeared, can create a new type of global economy. But it may take a long time to eliminate real money, because digital money is still too difficult to understand for the most people. So as technology will develop cryptocurrency will definite take the place of cash and people will accept it.

[Gluttony 1775]

Yes, since the security issues to diffrent banks is a big issue especially when an institution is already out or being robbed, what will happen to the money of the people that deposit their wealth to that financial institution? Since this question is still there, cryptocurrency might or will take over the other currency. There are also people debating that the money bill system that we have is kind of silly, since the paper bill that we have now is kind of questionable because the paper being used to a paper bill is not even equivalent to the value that it portrays unlike the coins that needed a metal to be melted. The other thing why it will happen is due to the fact that all transactions that involves money needs to be speed up, which make again the cashless transaction more relevant for having less trouble to all people who will go through any kind of transactions.

[Chief executive officer band 681]

Crypto will by no means reinstate currencies, for the reason that currencies are lawful and familiar by every countries crypto is now simply old as an investment. 

[Jaafar Fahad Hassan 114]

Am sure it will in the nearest future, it is progressing very well and it would overtake other currencies soon, most countries would have no option than to accept it as fact and growth

[hasan007 206]

Its quite impossible to replace the currency with crypto, cause the currencies is the key method of translocation. One the others hand  crypto don't have the legal certificate, and most of the people of the world are still ignorant about the new system. 

[bogdanoff 3173]

It can happen as all fiat currencies are creating inflation and printing very much to cover all problems the economies have and think taht this is the solution but it is not a permanent one. I think that with cryptocurrencies being used instead of fiat we will have a better system of economy that will help all people and not only a few on the top. But crypto has a similar problem as developers own a lot and even bitcoin has many whales that hold themost of them. There is need for a solution on this to create a better society.

[yato987 2811]

at the present time it is impossible that happens because almost all countries and governments consider crypto as illegal and we can't tell about future but if crypto kept raising this way there is a big chance that it will get more used in life and won't be illegal to use it 

[Vitaervina 68]

Yes, and have proven this. Where now, every country is preparing their own digital currency to follow the crypto era.

[Cryptic 0]

Maybe since it has already used by some big company as payment but I think it will took a lot of time because only few country has acknowledged it like Germany which they treat crypto just like fiat money where you could spent it to anything you want. But the big problem is its volatility, crypto is volatile in order to prevent the losses in your income, better to convert it to digital fiat money.

[hatambaba 1064]

I think it will be impossible for bitcoin to replace fiat money, bitcoin will forever be an alternative currency, because if it becomes a fiat currency of a country then bitcoin will be owned by that country. Bitcoin system is decentralized, so it is not possible to be a country's currency.

[Kron1749 63]

I can say so. Because crypto offers you anonymity,safety. Most people don't trust the government and banks, payment systems. Crypto offers you a solution to all problems which bring government and banks. But it will happen maybe only after 20 or 25 years and of course not in the whole world, but  some small countries
PS: pls, like my comment

[edixsonv 46]

I don't think that's possible in the near future, at least, not while cryptocurrencies are so volatile. Fiat money is legal in all countries, with worldwide acceptance, something that, for example, Bitcoin does not have, plus many people still do not use cryptocurrencies for various reasons such as ignorance, fear, not having access to the internet. At present, it is safer, having $ 1000 in your pocket that suddenly inflation can make its value go down a bit, than having it in cryptocurrencies in a digital wallet, where a fall in the cost of the currency can cause you to have big losses of that money.

[Elpipotema 119]

Of course, today from my point of view cryptocurrencies have taken on a very important role in the world economy, if it were not so, many banks would not be adapting to them. However, it takes time for people to learn about this technology and adapt.

[Aldiyar1337 34]

It can sort of, but not in all countries. First of all governments of countries with strong economic should help countries that are poorer than they, only then it can be real.

[Amer19 320]

It is very possible that encryption will replace other currencies, especially in a country like Sweden
Also, the world trusts more and more digital currencies every day. I expect that, but everything needs time

[mody2020 21]

Cryptocurrencies will not replace other currencies, but there are some parties that deal through these currencies for ease of control