What is cryptocurrency? Cryptocurrency is a digital currency and a lot of people wonder if it will replace fiat money. The first successful cryptocurrency was made in 2009 by Satoshi Nakamoto. A lot of people were not comfortable and confuse when this was made. But as years pass they have made more and different types of cryptocurrency. And cryptocurrencies are increasing in popularity and a lot of people are using crypto instead of money.
In 2021 35% of Americans were comfortable using crypto. And stores now have the option to use crypto to buy stuff. Elon Musk the creator of Telsa once had an option that you could buy a Telsa with crypto. As the popularity of crypto rise more things are being made. They now have ATMs, cards, and banks that are crypto. Also, NFT which is a non-fungible token is a piece of digital art that increases in value because it's a one-of-one.
But the top US Banks say that crypto will not replace money because the government will have to regulate cryptocurrency just like they do with money. And a lot of people agree with this because it will be impossible to replace fiat currency. But Elon Musk says “If you want to speculate and have some fun - there’s a good chance that crypto is the future currency of Earth.” he said.
In my opinion, I think that crypto will replace cash since now more things are being created and it is now getting regulated by the government.
Do you think crypto will be our future currency?
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Maybe, I mean it depends on the people in charge of the country. As for other countries, I'm not sure. But for America technology has been pretty advanced. Real dollars have always been our currency though so I don't think it would neccesarily be a good change but it wouldn't be terrible. It already exists so there is the posibility but I don't think it'll "take over" the money or dollar production. Unless someone were to come in power and change that. Which could really happen any time.
I think that cryptocurrency will replace money in the near future. I think this because the government is already finding ways to bank online. As well as, getting people to pay for things from their phones. I think money will be completely online within the next couple of decades.
I agree with you because a lot of people are now banking online and buying stuff online. Also, the government is now trying to regulate crypto since more people are using it,
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