Is Bitcoin going to become more like cash?

[Syldan]

Actually the possibility of bitcoin becoming more like cash money depends on the acceptability and recognition of the government of world countries because it can't be effective when they disapprove

 

[eenya00]

We can't really tell , but personally I am sceptical because this will not happen. cryptocurrency will still continue to be a digital coins cream that was created to be. Yes it will automatically become a centralised currency.

I do not think it would come to a day bitcoin or crypto currency would be like cash, when it happens the purpose of its creation has been defeated and the value would drastically drop

 

[Chibson]

Have you ever thought of the possibility that a day would come whereby we do not have to use paper money any longer?
Well for me I sincerely believe that anything is possible in this world.

I actually believe that anything is possible and that may actually be a possibility. But one thing is that so many countries will not be able to accept Bitcoin as a legal tender.

 

[Sincerem]

I do not think it would come to a day bitcoin or crypto currency would be like cash, when it happens the purpose of its creation has been defeated and the value would drastically drop

That is what so many people are saying. and we just hope it continues that way. We do not want cryptocurrency to be in a physical form because it will automatically be regulated by the bank of any countries that accept it.

 

[Chibson]

That is what so many people are saying. and we just hope it continues that way. We do not want cryptocurrency to be in a physical form because it will automatically be regulated by the bank of any countries that accept it.

The major reason bitcoin was created is so that it will be used as a form of payment on the internet. There is no way it can become like cash or physical money because it is decentralized. Physical money is centralised

 

[Sincerem]

The major reason bitcoin was created is so that it will be used as a form of payment on the internet. There is no way it can become like cash or physical money because it is decentralized. Physical money is centralised

That is true. But just that a lot of people are not adopting bitcoins as they should be adopting, most especially business
This would have pushed the price of bitcoins to a relatively high standard.

 

[Chibson]

That is true. But just that a lot of people are not adopting bitcoins as they should be adopting, most especially business
This would have pushed the price of bitcoins to a relatively high standard.

cryptocurrency and bitcoin is not something that a lot of people will accept in a single day. It is a gradual process because it needs a lot of education for people to understand it properly.

 

[Sincerem]

cryptocurrency and bitcoin is not something that a lot of people will accept in a single day. It is a gradual process because it needs a lot of education for people to understand it properly.

What of certain government officials around the world that do not accept cryptocurrency into its government system. Do you think they still need proper education to really understand what cryptocurrency is all about ?

 

[Chibson]

What of certain government officials around the world that do not accept cryptocurrency into its government system. Do you think they still need proper education to really understand what cryptocurrency is all about ?

Governments have people that understand cryptocurrency properly around them but they do not want to risk making it a legal tender. I think different governments have different reasons for doing so.

 

[Syldan]

Currently I think there is low possibility of bitcoin becoming like cash simply because most of the country government have not even accepted its operation in there respective home talk more of accepting it for transactions.

 

[eenya00]

Currently I think there is low possibility of bitcoin becoming like cash simply because most of the country government have not even accepted its operation in there respective home talk more of accepting it for transactions.

this is true as so many government do not want to come to the terms that there is a new monetary competition and they are doing all they can so it does not work out.

 

[Gandiba]

Bitcoin and other crypto currencies can never get to become like normal cash currencies.

They do not have what it takes.
A lot of people don't even understand bitcoin or any crypto currency.

 

[eenya00]

Bitcoin is not cash and would never be cash as this would kill it major purpose why it was created, which is to become decentralized and been enable to be used all around the world

 

[Smiles20]

This is actually the main reason why bitcoin was created but instead of being like cash you can be able to transfer money from one place to another without needing a central authority.

 

[Danny4cash]

I don't think bitcoin can become more like a cash. There's electronic transfer that people can use to transact.

Also, some countries have their own coins which their citizen make use of.

 

[Good-Person]

That is what so many people are saying. and we just hope it continues that way. We do not want cryptocurrency to be in a physical form because it will automatically be regulated by the bank of any countries that accept it.

I think that since cryptocurrencies are based on software, the fact remains that it would be really hard for it to get into some kind of physical form just like gold.

 

[Yaqoob Habib]

Yes it will replace physical cash in the farthest future. It is a form of exchange in some countries. People use to it to buy and sell items online. In a different decentralised world of it's own , self governing your currency gives you power and control over it . It wil happen eventually

Yes, in the same way, more transactions are happening in bitcoin because the trend of most people has turned towards cryptocurrency A system has been introduced for cryptocurrency in Lot's of countries.May be soon he will accept that those who do not accept Cryptocurrency will also accept in the World.

 

[Nomad]

I think bitcoin is already like cash. Some countries are already using bitcoin as a legal tender and some countries are already using bitcoin payment for international trade and commerce. There is a huge potential of bitcoin as a payment form

 

[eenya00]

It will be very difficult for bitcoin to be more like cash these is because they operate on two different entity that's online and offline. it acceptability depends on the government.

I believe that bitcoin can be more like cash in the future but also I am aware that this would be very difficult to happen as there us yet to be a global acceptability of it as a legal tender.

 

[Grant]

I don't think it can ever get to a point where it will rival that of cash. I think for the most part, crypto in general is too volatile and doesn't hold its value for too long. With cash, it doesn't go down as fast. Of course it can happen, if a country falls for example, that currency could become worthless. It's happened to some other countries out there.

I just don't see Bitcoin or crypto in general being as good as cash.