CryptoCurrency will likely replace traditional currency.

Pros Case(A) Cryptocurrency is already massively popular. Cryptocurrencies such as Bitcoin, Litecoin, and Dogecoin are already massively popular, which is what gives them their values. Their popularity is also growing very rapidly. One bitcoin holds value in the neighborhood of 800$. Value is incurred onto the currency when people accept it for goods and services, and everyday more and more people are accepting bitcoins as payment for commodoties such as cars, houses, and other regular consumer goods. The current exchange rate for Bitcoins is 833.3 USD per coin. (1)Litecoin is worth 20.85 USD per coin. (2)Each dogecoin is worth only .0013 USD per coin (3), but their value has been rapidly rising. After founders of doge raised 30,000$ in doge for the jamaican bobsled team in one day, the value of dogecoin jumped 50%! Dogecoin trades are also in the millions of transactions per day. (4)There are even ATMs in Canada that sell bitcoins! Forbes writes " It is getting harder to keep up with the number of consumer-oriented businesses starting to accept Bitcoin as a payment platform. There is Overstock. com, of course, which rang up $500,000 in Bitcoin-paid purchases within weeks of its announcement. Malwarebytes has just announced it is accepting Bitcoin for its consumer products via Coinbase, claiming it is the first major security company to do so. Also, in the “first” category is CheapAir. com, which says it is the first U. S. online travel agency to accept Bitcoins, at least for hotel reservations. Also Mint, a personal finance app whose brand screams out financial responsibility and transparency, is also partnering with Coinbase to allow its users to integrate Bitcoin transactions into their traditional accounts. The really compelling news, though, is that a service aimed at investors in one of the few undigitized sectors of the U. S. economy–commercial real estate–now has a Bitcoin payment option. " (5) (B) The Viability of CryptocurrencyThe major benefit of cryptocurrencies is the fact that they are decntralized. The coins are minted or "Mined" by computers that decrypt complex blocks of crypto in order to generate the identity of each coin. This also means that there is a definate set limit to the number of coins. This prevents forced inflation via the printing of money. As the currency is not physical, an extra benefit is that it is infinitely divisible. If you need exactly .00000013 BTC you can trade exactly that in transaction. It's like cloud accessible cash. Digital transactions in the traditional curency system requires you to simply make bank transfers between accounts. Cryptocurrency transactions are equitable to actually handing someone cash. Cryptocurrency is one of the few digital commodoties. I will talk more about the benefits of a commodoty market later. Cryptocurrency right now is difficult to trade in person. The only real way to ensure that your good is paid for is to watch the person send the coins to your wallet as you hand them your good or give your service; in a way, though, that is similar to the case with traditional currency. Debit card systems that act as direct cash transfers are a viable option for the future of crypto currency. These would work like regular debit cards, except instead of a bank sending the money in a transfer, you would simply automatically send your bitcoins (or whatever cryptocurrency you use) directly from your wallet. Obviously, to avoid theft, people will have to become more familiar with internet security, but that is the case with traditional currency online as well. Learning to protect your computer will likely in the future be the same as learning to secure your home and belongings. (C) CommodityCryptocurrencies (as they have a semi-tangible nature and are limited in quantity) are a comodity. There are many advantages to commodity trading. "Commodity exchanges actually serve a vital role to the economy and it is unlikely we would have had as much economic growth in the last 100 years without the commodity exchanges. The purpose of commodity exchanges is to provide a centralized marketplace where commodity producers (commercials) can sell their commodities to those who wish to use them for manufacturing or consumption. The beauty of a commodity futures exchange is that someone like a corn farmer can lock in a price for his crops months before they are even harvested. This process increases business survival among farmers and the exchanges always make sure there is a buyer for every seller, provided their prices meet. "(6)Cryptocurrency aids in the creation of a healthy commodity market. (D) The Elimination of Banks. One of the greatest percieved benefits of cryptocurrency replacing traditional currency is the elimination of banks and the lending system. You can store any volume of cryptocash in your wallet without having to worry about space, and you can secure it with digital backup systems. Trades can also be made globally over the internet without the need of a middleman. The banking system has grown more and more unstable over time; with the rise of cryptocurrency, it will become vestigal. Today, banks use interest and loans to incur value that is nonexistant through debt. This creates an economic setting where someone must lost money. Cryptocurrency creates much more fair market enviroments. (7)Sources1. . http://preev.com...2. . http://litecoinexchangerate.org...3. . http://dogecoin.com...4. . http://en.wikipedia.org...;5. . http://www.forbes.com...;6. . http://commodities.about.com...;7. . http://www.honest-money.com...;