Crypto for replacing physical money

[Pegem 109]

3 minutes ago, igglybuff said:

I do not think it will happen, there are many people who do not want to open their minds to new paths, many older people who will continue in the classic will reject new technologies, it will take a few years for this to become real.

No the older people do not hate the new technology , they only do not know about them and that is why cannot or do not use these new technologies. But they love to learn them and when we will teach to them about these new technologies then they will happily adopt it. 

[Syedbesharat 5423]

On 10/16/2019 at 10:57 PM, Richard said:

This exists in some countries that support cryptocurrencies Some countries prohibit the use of cryptocurrencies So this is going to be a bit difficult and probably won't happen until after 50 years hhhhhhhh

The crypto is volatile currency.Its price can be go up and down any time because of many factors.And can be bought by anyone on large scale withoit any restrictions.So it can become another source of transactuon but not the standard.Where we can maures all thibg to crypro currency.It has value but its value falactuate alao thats make problem in runnibg sociey on daily basis.i hope they find its solution.

[Pegem 109]

4 minutes ago, Syedbesharat said:

The crypto is volatile currency.Its price can be go up and down any time because of many factors.And can be bought by anyone on large scale withoit any restrictions.So it can become another source of transactuon but not the standard.Where we can maures all thibg to crypro currency.It has value but its value falactuate alao thats make problem in runnibg sociey on daily basis.i hope they find its solution.

That fluctuations is in the price of bitcoin but it will not exist for longer. It comes because there are a lot of people who do not have bitcoin and when they come to know then they invest then the price increase. At some stage of life the price of it will stabilize. 

[Syedbesharat 5423]

8 minutes ago, Pegem said:

That fluctuations is in the price of bitcoin but it will not exist for longer. It comes because there are a lot of people who do not have bitcoin and when they come to know then they invest then the price increase. At some stage of life the price of it will stabilize. 

In the End it will become stable than what is the point of getting Bitcoin.Bitcoin price fluctuation make it different from stable coins.Their are many stable coins whey not people invest in them and go for bitcoin? 

[Caporetto 327]

China is already paying just by face recognition and with a bank account linked to that face, why wouldnt physical money just dissapear? China is truly ahead of technology

 

[Zentoly 419]

Perhaps later on it will work magnificent, yet for the present I think this isn't the opportune time to replace the physical cash so i know there are some nation they have use crypto now as a mean of accepting the payment.

[Pegem 109]

1 hour ago, Syedbesharat said:

In the End it will become stable than what is the point of getting Bitcoin.Bitcoin price fluctuation make it different from stable coins.Their are many stable coins whey not people invest in them and go for bitcoin? 

Just the price is not the thing because of which we are adopting it. There are a lot of other features in bitcoin which make it important for us to adopt it. It gives a freedom from the old restricted financial system. 

[Pegem 109]

4 minutes ago, Sponge08 said:

Well, I do not believr that it will happen on one, two, or three years. I highly doubt it. Those cash cannot be replaced yet. There are lots of studies that will be needed before implementing new technologies. 

In one, two or three years it will definitely not happen but at least in the coming ten years it may happen. As we can see in the previous ten years it got a lot of adopters and in the coming ten years it may become a global currency. 

[Zentoly 419]

I don't accept that it will occur so all things considered, fiat monetary forms will consistently be required by various individuals. i think it can't be replace by crypto.

[Pegem 109]

4 minutes ago, Zentoly said:

I don't accept that it will occur so all things considered, fiat monetary forms will consistently be required by various individuals. i think it can't be replace by crypto.

It was also told by many people in the time when fiat currency was invested that it is impossible for fiat to replace their existing payment system but it happened because the new technology beat the old technology. The same will be done by bitcoin. 

[yosef.zakkor92 39]

the next world economic crises when will happen surly will test if the BTC can replace "partly" the physical money or not

[ultimateclub 392]

On 10/16/2019 at 10:52 PM, Andrew12 said:

I am interested if there is a possibility in the near future to replace our physical money and be replaced by digital ones. Do you think it would happen?.

I think replacement of crypto against physical money won't be good. There will be a great impact on faster transaction as crypto needs acceptance of more than 5/6 minners. Also as it is decentralized and there is control over crypto the inflation rate will be high and the bookers will try to misuse of it. Moreover technology didn't reached at the remote corner of the world yet. So crypto will better besides fiat Currency.

[Lobachevsky 9]

no it isn't going to happen real soon crypto is great way to make transactions whenever we want and to any spot in the world but it can't replace physical money that easy because a lot of people don't know how to deal with this technology but in the far future yes it will replace the physical money

[Syedbesharat 5423]

19 hours ago, Caporetto said:

China is already paying just by face recognition and with a bank account linked to that face, why wouldnt physical money just dissapear? China is truly ahead of technology

 

China have very strong economy.They buy gold in tons.They have most advance technology and hold their citizen accountability very stricly.They make very strick policies and  in force it.china is competing against USD .i think near future thwy will defeat USD.Because china is now dealing in Yuan with his neighbour countries.They are making Yuan strong in Asia.

[Syedbesharat 5423]

18 hours ago, Pegem said:

Just the price is not the thing because of which we are adopting it. There are a lot of other features in bitcoin which make it important for us to adopt it. It gives a freedom from the old restricted financial system. 

You can state this from this point of view.i agree Bitcoin have many features.and more features could be genarate in future for users.The freedom from finincial system i think could not last for every but bitcoin make  his own pace.Sooner or later ristrictions and rules will impose on bitcoin for slowing down its growth rate.

[miskyming 1588]

I guess in the future. I've seen documentary about the cashless society in China, they already use digital money and it's rarely that someone paying with fiat.. so I think in the future we are using digital money.

[Pegem 109]

1 hour ago, Syedbesharat said:

You can state this from this point of view.i agree Bitcoin have many features.and more features could be genarate in future for users.The freedom from finincial system i think could not last for every but bitcoin make  his own pace.Sooner or later ristrictions and rules will impose on bitcoin for slowing down its growth rate.

South Korea though for it and after a long time struggle they accepted that no one can control bitcoin and it is a decentralized currency. they accepted that bitcoin is a free currency with freedom of all restrictions from any centralized control. 

[Syedbesharat 5423]

8 minutes ago, Pegem said:

South Korea though for it and after a long time struggle they accepted that no one can control bitcoin and it is a decentralized currency. they accepted that bitcoin is a free currency with freedom of all restrictions from any centralized control. 

South korea is very fast developing country they are  20 years ahead fromnrest of world so their handling matters are very sofisticated.They are very small country but they make quick decion on Bitcoin.But its nor under develop countries .They need time and experts fkr bitcoin.And develop countries like U.s,U.S.A,Germany,,itly are taking to much time for Bitcoin.

[Pegem 109]

1 hour ago, jayjaybrand said:

there are lot of people using it and to soon everybody will use it but replacing the fiat currency? I think it won't happen too soon but if it will happen then it is good for the people here

Yes it will not happen soon but at last it will happen and then as you said it will be very beneficial for the people. It will bring a convenience in the international trade and other businesses. 

[bestprofi 372]

11 minutes ago, ivonev said:

if banks or governments begin to acknowledge and utilize crytpo that might happen much less demanding as parts of individuals will take after their governments

There are many banks that are already using or experiencing blockchain transactions, especially the Xrapid system developed by Ripple.

[Pegem 109]

10 minutes ago, bestprofi said:

There are many banks that are already using or experiencing blockchain transactions, especially the Xrapid system developed by Ripple.

yes these crypto related banks and those banks which are developed for the crypto are using crypto currencies but those banks which are run by the governments are not accepting it now. They will wait for the governments to allow them.

[flomopeter 135]

On 11/1/2019 at 1:52 AM, Khan said:

I am not agree with you as if that can happen then the poor will become more poor and they will die from hunger as they don'y have the access to those tech.

No crypto currency will make things much better, many people in third world countries don't have financial access to the outside world, crypto will allow farmers in africa sell on the us market and get their money fast and easy, people wouldn't need third party to transact.

On 10/31/2019 at 8:09 AM, Zeela said:

I don't agree with that. If crypto replace physical money, that mean all our local currency will have less value. Definitely the value of all currency will go down and this will bring economy crisis. 

Crypto should be used for other payments but not to replace our dear local currency. They still have value to us.

No, the entire world few years from now will relied on digital currency for transaction it will be very hard to see physical money around and cryptocurrency will be a the top of the digital currencies.

[Saqib Ali Sadiq 438]

crypto cannot replace the physical money, it can only replace the banking system, physical money is the need of every person and every where physical money accepted, no need of internet for physical money.

[WayOut 216]

On 16.10.2019 at 19:52, Andrew12 said:

I am interested if there is a possibility in the near future to replace our physical money and be replaced by digital ones. Do you think it would happen?.

Friend, this has already happened. Many countries accept payment by bitcoin or other cryptocurrencies. There is an island named as BCH island, even BCH is paid for taxis there.

[s888 99]

no never it cannot replace the physical money becoz everyone have no knolwedge about internet and he donot know about the bictoin and online trading and online earning so it will not replace it