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 it will be difficult to replace money because we have been using it for years and if we decide to switch it. It will be difficult.
I don't think that cryptocurrency will replace money- possibly ever. I really just don't think that the majority of people are comfortable or even interested in it. I think that paper money is more convinient and natural to use for most people, so I don't think paper money will be replaced any time soon, if ever.
I don't think that it will replace paper money because many people are still not comfortable with cryptocurrency. Many people would rather use physical paper money than cryptocurrency because it is something new and people are scared of trying new things. Thus, I don't believe that cryptocurrency will replace paper money.
I agree some people are scared to use crypto and if people do not use it we just stick with cash.
I do not think that cryptocurrency will ever replace money. people use money on a day to day basis. Some use money more than they even use their credit card. I think that I would still use money even if it tried to replace money. I think there is a lot of people who this would confuse.
I don't think cryptocurrency will end up replacing the paper money. Not enough people have made the change to go from hard cash to cyrptocurrency. I think there is a lot of people that would rather not use cryptocurrency. Therefore, I think it will not replace real money.
Currency in the United States has changed drastically over the years. Before debit and credit cards, most everyone used cash or wrote checks. However, debit and credit cards have made it easier to be managed online and make transactions easier. I believe that crypto will certainly become a big part of our economy in the future just as more online banking systems have.
I agree because we went from cash to cards so it's just time we switch again.
I don’t believe that cryptocurrency will ever end up replacing the paper money that we have today. I believe this because people still use paper money today. Even though the credit card was created around the 1920s. Over time there will probably be less paper money being used but it will most likely still be around. Not a lot of people even know about cryptocurrency, therefore, it probably won’t cancel all paper money out.
I agree because we have been using cash for a long time and changing it will take a long time to get use to it.
-
1
-
2
-
3
-
4
-
5
of 6 Next