Will cryptocurrency be the only currency one day?

[Good-Person]

it would take a lot of time before this would happen, for crypto currency to be the only currency in the whole world, i did not say it is not possible but it would take a lot of time befor this can actually come to pass.

Cryptocurrencies will not become a major method of payment until or unless they are promoted at a much larger scale like people promote PayPal as far as I think.

 

[Smiles20]

You are going to see that there is going to be a lot of other projects are coming like this to give people autonomy. Some of them are going to stay and some of them are just going to be complete nonsense. You have to be able to filter the noise.

 

[AruneBend]

Is it ever going to get to a point where cryptocurrency will become the only currency available? Like, in order to pay your bills, you'll need to have some kind of cryptocurrency. Maybe bitcoin or some other big cryptocurrency. But, it will take a while for the US government and other governments/leaders to go that route. I don't think it'll happen anytime soon though.

What do you guys think?

I don't think it's possible because some counties don't allow crypto at all plus not all peaple likes cryptocurrencies for sure the government don't like cryptocurrency also so they wouldn't allow it so it's hardly possible maybe someday

 

[Skysaint]

That would certainly not be a welcomed development and I myself that's a big fan of cryptocurrency wouldn't want that. It would greatly affect the world and the overall development.

 

[Sotherefore]

You are going to see that there is going to be a lot of other projects are coming like this to give people autonomy. Some of them are going to stay and some of them are just going to be complete nonsense. You have to be able to filter the noise.

Normally I have been thinking of how cryptocurrency will exist as the only payment method.

If this is happening then a lot of business will not be profitable because of crypto price fluctuation.
Because of this so many people will mostly be dealing on usdt as a stable coin cryptocurrency and will choose to avoid dealing with volatile coin due to this price fluctuation.
This may not likely happen as I have seen.

 

[Imran_Noori]

No I don't think crypto currency will be the only currency that is acceptable worldwide for marketing. Consider that it's not every body is digitally Wise

In coming few years it would be very difficult to crypto currency to be the only currency accepted by all countries but after a decade maybe everything changes.

 

[Alisco]

In coming few years it would be very difficult to crypto currency to be the only currency accepted by all countries but after a decade maybe everything changes.

Even for centuries crypto currency can never be the only currency accepted worldwide for exchange. Consider the long run of the present currency's being used for centuries.

 

[Smiles20]

As much as I believe that a lot of our transaction should be done in a decentralized manner, I do not believe that we are going to completely eliminate fiat currencies.

 

[Skysaint]

As much as I believe that a lot of our transaction should be done in a decentralized manner, I do not believe that we are going to completely eliminate fiat currencies.

It would never eliminate fiat currencies as the latter would be a physical cash that you would need to do a physical transaction and also keep on your offline banks. Banks are never going to fold because of cryptocurrency.

 

[Agbalagbaa]

I strongly believe that cryptocurrencies would never be the only currency even despite gaining acceptance in many places. This is because alot are taking advantage of it for fraud.

 

[Nomad]

Cryptocurrencies will co-exist with other kinds of currencies such as fiat currency, digital currency (central bank digital currency and other kind of digital money, mobile wallets for example), however, cryptocurrency will never replace fiat currency.

 

[Chibson]

I don't think there is a possibility that cryptocurrency will be the only currency in the near future. There will always be a lot of alternatives but crypto will actually still exist.

 

[Connor909]

Although cryptocurrencies have grown in acceptance and popularity recently, they continue to confront technological and legal obstacles as well as competition from the existing fiat currencies. Cryptocurrencies may either continue to coexist alongside fiat money and other payment methods, or they may eventually gain more acceptance and become the dominant form of money.

 

[Mayorla]

I don't think this is really possible though. It would take a lot of enlightenments before this can happen. The possibility is slim considering the volatility of cryptocurrency and its unpredictable nature.

 

[Kennysplash]

The Fiat currency had existed before it and it will continue to exist as well. There is no way it is possible for us to only have cryptocurrency, a lot of things would be spoiled.

 

[Ernestnari]

It is not possible for cryptocurrency to be the only currency at any point in time. That's because of the numerous coins available in the cryptocurrencies space. It would have been possible of it were just about 5 coins.

 

[Riberet19]

I don't think that cryptocurrencies will one day be the only currency that exists, besides, it was not even born with that purpose, it will be if it continues on the path it is going, an alternative to fiat money, but I don't think the latter is going to disappear, at least not in the short-medium term, it will mutate into CBDCs

 

[James]

Whether cryptocurrencies will eventually replace all other forms of money is a difficult question to answer with certainty. While interest in cryptocurrencies and the blockchain technology that powers them is rising, there are still a number of issues that need to be resolved before they can completely replace traditional currencies.

The biggest difficulty is volatility. Because of their price swings, cryptocurrencies are not suitable as a reliable store of value. The widespread use of cryptocurrencies as a medium of exchange or a unit of currency may be significantly hampered by this volatility.

 

[Yohanna]

It is high time we understand that cryptocurrency is a very good currency but it cannot replace money because it does not have the attribute of money and cannot act in capacity of money.

 

[Trey]

Cryptocurrency would gain wide traction and adoption in the coming years but it is not possible for it to be the only currency. It would affect greatly the autonomy of countries.