Crypto currency replacing fiat currency as legal money

[Augusta]

Crypto currencies has been rising steadily these few months and it is because a lot of people have come to recognized and realized how effective the crypto world had become. Due to the lock down during the peak of Corona virus pandemic more people came online for investment and they were confronted with crypto investment and transactions. People got to love it and there were more investment resulting in what we have today, more demands forcing the value and price of crypto currency to skyrocket. Online sites are also receiving crypto currency as a form of payment. So it looks like in the long run, the crypto currency might just be a form of payment. Do you think it can ever replace the physical cash that have already been in existence offline?

 

[Josemendez]

Indeed , cryptocurrency has gotten a lot of attention recently ,and many people are constantly keying in to it.

Top influential people and companies are among those investing in cryptocurrency especially bitcoin ,and this with the fear of missing out has made the price of bitcoin to soar high , However , the fact remains that cryptocurrency can't replace fiat currency because of the following reasons ;

1. Cryptocurrency is very volatile ,and replacing fiat currency will make it difficult for businesses to calculate their profit or loss .

2. Cryptocurrency is not controllable, and thus governments if different countries may find it hard to accept its usage in their country. government will always want to control everything within their country

 

[Augusta]

Indeed , cryptocurrency has gotten a lot of attention recently ,and many people are constantly keying in to it.

Top influential people and companies are among those investing in cryptocurrency especially bitcoin ,and this with the fear of missing out has made the price of bitcoin to soar high , However , the fact remains that cryptocurrency can't replace fiat currency because of the following reasons ;

1. Cryptocurrency is very volatile ,and replacing fiat currency will make it difficult for businesses to calculate their profit or loss .

2. Cryptocurrency is not controllable, and thus governments if different countries may find it hard to accept its usage in their country. government will always want to control everything within their country

Yeah your two points are really convincing enough because I used to think same especially for business or financial transaction, people might actually be making loss when the price goes down after maybe a huge sales and the price of of Bitcoin falls. The anonymity of the coin is another issue I think they will be more scamming and frsud happening all the time unless by a time like that there are topnotch tracking tools in place to curb the problem of defrauding. But it would be nice if Bitcoin is used more