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Will cryptocurrencies replace fiat currencies?
Cryptocurrencies will inevitably replace fiat currencies.
Money is becoming more digitized by the moment, which is beneficial, as the demand for raw materials -
required to produce money keeps going up and these resources could have better use.
Cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status.
Cryptocurrencies could help to get rid of intermediaries in everyday transactions. This could cut costs for businesses and help out consumers.
The governments and bankers of nation states have no vested interest in ceding control of their local currencies to digitized forms of them, or to new cryptocurrencies completely beyond their control.
Cryptocurrencies are inefficient and slow.
There are too many cryptocurrencies on a market that overlaps. Fiat currency has a monopoly on the markets they are in.
With cryptocurrencies it is more difficult to conduct macroeconomic policies.
No they will not. Up to now cryptocurrencies are not stable as legal currencies (or asset, like gold) - they are more similar to speculative instruments - and this affects their effective use as a mean of exchange, the main but not the only function of a money.
Cryptocurrencies will eventually be the same as fiat currencies.
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