Will Cryptocurrency Surpass Cash In The Future?

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Will Cryptocurrency Surpass Cash In The Future?
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Amid many doubts about cryptocurrency on being a
platform to carry illegal activities, the
tremendous growth of cryptocurrency, in the
beginning, has made Bitcoin, the undisputed king
of the crypto world. This ruling cryptocurrency
is credited for Bitcoin millionaire stories,
where the lives of many people got changed when
they invested in this popular crypto coin.
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• There seems to be no question about its
  leadership among the other cryptocurrencies.
  Bitcoin gained much wide appreciation in the
  crypto industry market cap. Amid many doubts and
  criticism, there has been not much affecting
  Bitcoins popularity, who grew to fame more and
  more.
• But competition is inevitable, and it can be seen
  with the growth of other crypto coins like
  Ripple, Ethereum, and other digital currencies.
  No matter Bitcoin is still the leading crypto
  coin. The rapid rise of these digital currencies
  has triggered analysts with a question that says
  will cryptocurrency surpass cash in the
  future?

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Expected Possible Outcome In The Future

• After observing the rapid growth and acceptance
  of cryptocurrency among people around the world,
  analysts are expecting a possibility which says
  cryptocurrency surpass cash in the coming future.
  Well, there is a valid reason for this, there are
  lesser or impossible chances of manipulation in
  cryptocurrency in comparison to fiat currencies
  like cash.
• It is all because of cryptocurrency decentralized
  nature and being free from regulations. If we go
  beyond, then we will find that the concept of
  universal basic income could be well supported by
  cryptocurrencies, contrary to fiat currencies.
  There have been programs that have tested crypto
  use regarding this concept.

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Challenges For Cryptocurrency In Replacing Cash

• However, replacing a long old currency with a
  newbie digital currency might not be so easy as
  it seems. Since being a newbie technology, it has
  to work hard to prove the worth among the choice
  of people, worldwide. This is all because of some
  challenges that can appear as a barrier in
  between. If the concern regarding cryptocurrency
  surpass cash becomes possible, then it will lead
  to the loss of value of traditional currencies.
  But to take over cash completely by
  cryptocurrency, the development of new
  infrastructure is needed for worldwide adoption.
• There could be inevitable problems related to
  transition, as cash would become contradictory
  soon, which would lead to lost assets by some
  people. Prominent financial institutions have to
  struggle to bring changes in their methods.

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• The cryptocurrency impact on financial
  institutions and individual consumers would spawn
  problems for the government. As you know central
  currencies are monitored by the government is the
  reason for regulation in several ways, and
  digital currencies function with the absence or
  limited control of the government.
• Due to internal and external pressure, it would
  become impossible for the government to decide
  the amount of currency to print. Instead, the
  dependency of newly created tokens and coins will
  be on mining operations working independently.

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• No matter how individual investors would make up
  their mind to accept cryptocurrencies from the
  regular cash which they have been using so far,
  the question on will cryptocurrency surpass cash
  in the future is not in the control of anyones
  hand.
• There might be a possibility that the future of
  cryptocurrency in the upcoming future is blown
  out of proportion, as much estimation is done
  about this newly bubbled financial industry.
  Investors would find it difficult if everything
  goes related to crypto, as there might be
  frequent changes. and predicting anything about
  the cryptocurrency is not so easy.

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Conclusion The question regarding will
cryptocurrency surpass cash in the future seems
to be a valid question. Now there can be
differences in the opinion among people and
financial experts. Some would agree to it by
observing the rising graph and acceptance of
cryptocurrencies by major financial institutions
and businesses. Bitcoin is the key factor in the
bitcoin millionaires list that has made
cryptocurrency what it is today.
Sources https//www.cryptoknowmics.com/news/lis
t-of-famous-bitcoin-investors
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