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The world accepting cryptocurrency as the only mode of payment

Lyrrex

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Nov 22, 2020
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there is this question that I've been running through my mind for quite a long time about how the world will be in the next 50 years from now, as we all know technology is taking over everything and I was thinking about technology in terms of currency and I think that in the next 50 years from now if the world will accept cryptocurrency as the only mode of payment for goods and services , do you think this will be possible that in the next 50 years the world will be so digitalize to the point of accepting cryptocurrency as the only mode of payment ?
 
I don't think that it will ever be possible for bitcoin or any crypto to be the only means of payment. The best is, they become like Gold, generally accepted, as another mode. But replacing Fiat entirely, you will be killing the government of the world.
 
there is this question that I've been running through my mind for quite a long time about how the world will be in the next 50 years from now, as we all know technology is taking over everything and I was thinking about technology in terms of currency and I think that in the next 50 years from now if the world will accept cryptocurrency as the only mode of payment for goods and services , do you think this will be possible that in the next 50 years the world will be so digitalize to the point of accepting cryptocurrency as the only mode of payment ?
Crypto currencies would be accepted as a mode of payment by different parts of the world but making it the only mode of payments is what I won't really agree with. What would happen to the different currencies we have now like dollars, euro and pounds . are you trying to say it would all be drop. I dont think so. Infact how would you purchase crypto with this other currencies
 
Well, I think (just not to say now I'm sure, it will be this way).
Currently, however, this is now not feasible, as solid foundations are still lacking. But one thing is certainty. In a few years, we will no longer see cash in circulation. This has already been said.
 
It will be difficult if not impossible for cryptocurrencies to replace fiat money for many reasons. Cryptocurrencies is still difficult to measure. For instance, if you want to buy, let's say bread. How many bitcoin do you have to send even when there is limit to number of bitcoin you can send.
 
There is no way crypto will exist as the only mode of payment globally if this were to be possible then one of the fiat currency should have been the basis for down. Its a no brainer at all no matter how good it seems i won't even support it personally even with the so much love i have for it.
 
there is this question that I've been running through my mind for quite a long time about how the world will be in the next 50 years from now, as we all know technology is taking over everything and I was thinking about technology in terms of currency and I think that in the next 50 years from now if the world will accept cryptocurrency as the only mode of payment for goods and services , do you think this will be possible that in the next 50 years the world will be so digitalize to the point of accepting cryptocurrency as the only mode of payment ?
It won't be possible, simply because of the disadvantage that cryptocurrency has.

It's decentralized, which makes it highly suitable for crime.

It's also not stable, so day to day transaction will make a lot of businesses to face losses whenever the value drops drastically.
 
Even though Satoshi created Bitcoin intends to be a global means of payment, it turns out that Bitcoin (crypto) has many weaknesses that are not accepted by various countries, except in a forced situation such as Venezuela which has received economic sanctions from the United States, so shopping with friendly countries uses Bitcoin.
 
Crypto currencies would be accepted as a mode of payment by different parts of the world but making it the only mode of payments is what I won't really agree with. What would happen to the different currencies we have now like dollars, euro and pounds . are you trying to say it would all be drop. I dont think so. Infact how would you purchase crypto with this other currencies
You are really giving me a nice point but concerning how we will buy cryptocurrency at that time I think cryptocurrency during that time will be legalized in the sense that you earn it as your monthly payment and as a result of this everyone will be using crypto because you cannot buy money and obviously if all payment is made in cryptocurrency so you don't have to buy it you work and earn it,
 
I don't think the world can fully accept crypto currency coin like Bitcoin as a means of exchange due to it's unstable price control. Bitcoin and other altcoin price are not stable for trading goods and services in the market so I don't see the coin going into the market in dull force in the nearest future.
 
Even me I always believe that there will be a time when everyone in the whole world accept cryptocurrency as the only mode of payment and people will be working and be earning cryptocurrency as their monthly payment but I've come to know that such thing may not be possible anymore because everyday cryptocurrency is gaining value and I don't see how people will be able to use crypto to transact freely as the money we are using now.
 
With the way technology is moving, I actually for see a future where it is possible but it would take time. You still have a lot of people that have not owned a single coin in their life. Also there would always be factors and people that won't want this change to happen.
 
Stop thinking about this idea because its probably never going to happen. Governments would not have any control over the economy and people's money and that's why they would never accept cryptocurrency as the primary method of payments
 
Interesting! I have never thought about that and actually I cannot see the possibility of that happening any time soon. This is because development, technology and access to Internet are yet to spread to certain regions of the world. And crypto currency is used online. Meaning it is not a visible cash that we can perform transaction with offline
 
In my opinion I think this will be a difficult thing to come to realisation. I feel there will be a massive adoption of crypto currencies all over the world and people will recognise it even more butiy will not be the main means of exchange. I don’t think all countries of the world will accept it because it’s not a currency they can control
 
I honestly don't see that happening even in the next half hundred years coming to come, though this my statement could come back to hunt me.
But imagine some countries that are still struggling to provide basic amenities like electricity, how would a user get access to his money whenever he needs it?
 
In the next 50 years to come or less, cryptocurrency would be accepted as a payment method for a lot of goods and services but it is clearly impossible for the world to accept cryptocurrency as the only means of payment. It is absolutely impossible
 
Cryptocurrencies are not even still accepted in other countries till this day as a mode of payment. Maybe 10 years from now, almost all countries will accept it as a mode of payment but cryptocurrencies as the only mode of payment, it's already obvious that it is impossible.
 
Cryptocurrency has not been officially accepted world wide. But talking about wallet , there are so many wallet ,one just need to choose the one he or she wants, was have paxful which is very popular , we have luno, we have qiudax , roqqu etc. One just need to choose the one that is siuabke for the person
 
Purpose: The purpose of this paper is to analyse Bitcoin, as a payment method, and review the ... The Technology Acceptance Model developed by Davis (1989) is one of the most popular research models to.
 

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