Is Bitcoin going to become more like cash?

[ganibade]

Bitcoin can not become cash. This is because is a digital currencies that accepted thought out the world. And make people trade and make easy transition within one country to the others.

 

[Justin]

IN some countries Bitcoin is more like cash that you can even buy a coffee. However, in many countries Bitcoin is not even accepted as a payment system let alone a national payment system,

 

[Good-Person]

Bitcoin is a digital asset and I do not think that it will turn into cash any time. It is based on digital blockchain technology. However, you can convert Bitcoin into real cash whenever you want.

 

[greenie]

There's a possibility it becomes like cash - something like a universally accepted currency. But who then prints it? A bank would at least be needed to issue such notes and by then the aim would be defeated.
The only way it can continually be relevant is being digital

 

[Ononivami]

People often make the mistake of placing the bitcoin and the fiat currency side by side. Bitcoin cannot be used as cash because it lacks the attributes of money

 

[Josephjossy]

as we all know, bitcoin is just a digital currency and you cant use it to buy anything offline, I think it can never be used as we use cash everyday because it is a digital currency

 

[Sotherefore]

Bitcoins cannot be like cash because bitcoin's is just like a normal cryptocurrency that was developed with the help of the blockchain technology. It is a digital asset. But it's can be used for buying of goods and services.

 

[Mayox25]

There is no way it will become a cash it can be pegged against fiat money to know it's worth and value because it is a digital currency anything other than that has made it's purpose to be defeated.

 

[Busybee]

Countries such as Venezuela and Russia have started to use Bitcoins to make financial transactions. Venezuela due to hyperinflation has started to accept Bitcoins as a legal tender. Russia due to the financial sanction by the USA due to their invasion of Ukraine has shifted over to Bitcoins to beat the financial sanctions put up by the world governments.

 

[Sotherefore]

Even though countries may have come to understand about the function of cryptocurrency , but even with this I still doubt if cryptocurrency can be use in place of the local currency. Cryptocurrency generally is so volatile.

 

[Arm4n]

I think bitcoin is the future. Though it can't be replaced with the cash, but it will be used everywhere like cash. Near future, bitcoin will be allowed every country. So, the demand and price will increase a lot.

If Bitcoin decides to be like cash in the future then it can nolonger be a digital currency. These are two completely different things, it can only be one at a time l.

Right, but it will be of course used like cash. Now most of the website where debit card, paypal are appeared for payment method, bitcoin is also used there...so, we can say that bitcoin will use similar to cash

 

[Lens]

All cryptocurrency lacks the attribute of real money and that is the major reason why bitcoin cannot be used as a cash or cannot possibly replace money in the financial system.

 

[Holluwaphemmy]

Bitcoin can still be generally accepted as a means of payment because the rate at which gaining recognition is very impressive and at the same time it's value is overwhelming. Also it has already accepted in some countries and their legalized as a preferred means of payment so I know which time it will become the generally accepted means of payment more like a cash.

 

[tyrim88]

Bitcoin can't become cash because bitcoin is digital and I don't think bitcoin is going to be physically minted except it's going up replace the traditional Fiat currency almost all countries in the world.

These are some of the reason why bitcoin cannot be a fiat curemcy,the fluctuation that usually occure in the cryptocurency market is what makes the trading and markrt very interesting,and the ease in doing transaction also.

 

[Vinsane]

I do see that more and more places here are accepting bitcoin which is actually really cool to see! I hope that it does continue thats for sure haha! Do you guys see any places accepting crypto in your countries like banks?

 

[Emmy]

Bitcoin can only be transacted online and many platforms are already input it as a payment option since it's now trending. Many youths use Bitcoin as means of payment to purchase items to be delivered physically.

 

[Kelly5]

I don't see governments adopting Bitcoin as cash in the near future. The level of bitcoins volatility is obviously going to be beyond their control. Except you're going to say they are adopting stable coins, that is what will more realistic.

 

[lottowinningsignal]

It is very obvious that so many things are gotten all wrong by people because I do not see how it will be very possible for the bitcoin to replace the cash. The bitcoin is a commodity, it doesn't have the attributes of Money. it is really not possible for bitcoin to replace the cash in any form.

 

[Sincerem]

Stable currency will always remain as cash as I understand because no one will want to deal with volatile currency in which it's price is being determined by so many factors. I don't like it personally.

 

[Imran_Noori]

Do you think that bitcoin will become more like cash in the near future? I feel like with the rules that cryptocurrency has to follow, that soon bitcoin may have to become the new form of cash. If it can lock that in, it could be ahead of other cryptocurrency going forward.

Yes it will become a form of cash, even in these days people are using it as their payment methods... Day by day people are getting interested in it so it can change the worlds economic order.