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?
Sources:
Replies
I agree because someday we will replace money but for now, we just have to wait and use the money until more and more people start to use crypto.
I serverely doubt that cryptocurrency will replace real money any day. Cryptocurrency is more so similar to stocks in that you can buy them and sell them when the time calls for it. It doesn't seem like something you would just hand to a cashier in a normal manner. So no, I don't believe that cryptocurrency will be replacing standard money anytime soon.
In my opinion, I doubt that cryptocurrency will eventually replace money. While many have cryptocurrency, I believe that most see it more of an investment than actually money that they will use. Because the government creates the money, it is universally accepted and everyone has to use it. Because normal money is just more practical and universal, it would hurt a business to only take crypto. It would also only be too much of a hastle to set in place a system to take crypto in a business for a small group of people for it to be profitable.
I think it will eventually replace the money. I would prefer cash rather than crypto. It just seems more practical.
I think that crypto will not replace money because a lot of places only use cash and other places only use card, but rarely you see if people only use crypto. I think that Crypto will eventually not be a thing any more, I think that there will be a big crash and no one will use it anymore.
I agree with this because a lot of people don't use it. I think that if people don't use crypto that often we will still have money.
I think it will eventually take over now i dont think its going to be soon. i think that money will always be a thing even though i also think crypto wil take over. The statis of money and crypto money right now i think will switch in the future and it will be where most places only take crypto and only few places take cash.
I think that cryptocurrency will be used more but not completely cut out cash bills. These bills have always been our currency and I think changing them could be hard for many people. Over 34% of Americans are aged 50 and over and introducing a new currency could really be a struggle not only for the old but for the young.
I think that cryptocurrency will not completely replace bills. Like you said, “The government will have to regulate cryptocurrency just like they do with money.” A lot of people were not comfortable using it and they didn't understand it. Some people can use it if they want to and companies will offer for people to pay that way and if people want to use it they can.
I agree because the government is now regulating crypto. And also some people do not like or are scared to use crypto because they might loose money if they do. So I think that crypto will be our future currency but for now, we just use regular bills
-
2
-
3
-
4
-
5
-
6
of 6 Next