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RE: Are Cryptocurrencies a Government Ruse to Introduce a Cashless Society?
You may be on to something here @wakeupsheeps.
Indian Prime Minister Modi recently declared OLD high denominations as invalid and printed new ones but made them scarce to acquire. He then promoted Digital wallets.
Recently India said OK to BitCoins! and invited survey from public on other cryptos.
If this all plays out well, I think the big banks coin (Ripple for instance) will gain lot of traction!
I think you are correct about Ripple or what ever coin best serves the banks @rkreddy.
will Ripple succeed if everyone pulls their money out?
In an ethereal reality that is possible.
In a world where less than 1% is invested in Cryptos - Its unlikely.
Also they own the major portion so the chance for something like that to happen is mismal!
They make abandoning cash a foam party: https://steemit.com/finances/@rockwellontherun/why-crypto-means-tax-and-abolishing-cash-and-what-that-means-for-us