Will Cryptocurrency Replace Money?

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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  • I don't think that it is, cryptocurrency is not known by everyone. Especially by older generations. I will say that it could be within 50+ years, but definitely not all currency will be cryptocurrency. It seems too much could go wrong with cryptocurrency. 

  • In my opinion, I don't think that cryptocurrency will become the new norm for money. we've had the dollar bills for hundreds of years. changing it now would just be stupid. not everyone likes cryptocurrency or would want to use it. 

  • Honestly, as popular as cryptocurrency is becoming, I don't think will be in the near future. The world has used the money for who knows how long, just switching over to crypto would be confusing and weird to people who are used to using cash their whole life.

    • I agree because not everyone knows how to use crypto and if people don't know how we will just keep cash. 

  • Although crypto is becoming more popular, I do not think crypto will fully replace cash. Cash has been around for many years and I do not think it will go away. Crypto may become more popular, but it will not replace cash money. Cash is easier to use compared to crypto, especially for older people.

  • In my opinion, I don't think that cryptocurrency will become the new norm for money. we've had the dollar bills for hundreds of years. changing it now would just be stupid. not everyone likes cryptocurrency or would want to use it. 

  • I do think that there is a great chance that the currency of the future will be crypto. Personally, I do not like to think of that happening. I like to use cash for some things and debit card for other. I think it is going to happen sometime, but it is not something I look forward to.

  • In my opinion, I doubt that cryptocurrency will eventually or ever replace the money we have now. In my opinion, I would still rather prefer to pay with cash for things.  It does not seem like something you would just hand to a cashier and for it to be normal. 

  • I am not sure because of a few things. First of all, some cryptocurrencies have crashed. Bit coin's stocks have been driven down a crazy amount lately, and many stockholders have become unhappy with the recent events.  I do think that cryptocurrencies will become more used in the future. 

  • I think that cryptocurrency might replace real money some day. I still think for now there are people who dont know how to use cryptocurrency. In my opinion I would rather still prefer cash to pay for things. I think that its less confusing and easier to do.

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