Bitcoin Forum

Lately, as the development of the world's cryptocurrency, many people in certain countries after hearing the news that cryptocurrency is very attractive to be used as a tool of transactions and investments, making people who hear the news want to quickly switch to the currency crryptocurrency is when in their country eyes the money is still considered and illegal. The question is, why are those people more interested in cryptocurrency when their country already has official Flat currency and why also the government forbids the cryptocurrency? In my opinion, it would be great if the two currencies are combined only. Of course the result will be very good. Well, what do you think?

Of course it would be good if FIAT and crypto could get along but those worlds are opposed in nature. The reason they are interested in crypto could be varied but it is likely to free themselves from the fiat system as it currently stands.

Both bitcoin and fiat can co-exist. Fiat doesn't need to die for bitcoin to be useful.

Though I don't think you can actually "combine" bitcoin and fiat(actually kinda impossible), due to both being very conflicting to each other(obviously).

Yes, I think the same about you. Bitcoin and Flat currencies if combined can make the economy increase. Perhaps, the world's economists in a country, have other considerations of course. Yes, yes, yes, it could be so. he.

so far only bitcoin has been a currency and a "tool for transactions". the rest are purely treated as investments.

not really. last year we had a lot of hype and that meant many people heard about cryptocurrencies but t hat  doesn't mean they rushed to invest in them. some of them did but many stayed away because they are still afraid of them for good reasons. and many only invested in bitcoin not others.

wrong. bitcoin and by extension the rest are legal in majority of the world. in fact it is only "illegal" in less than 5% of the world.

as I said they are not illegal and also people aren't using them as currencies, they are using them as investment, conversely as some illusion of becoming rich if they buy X and Y.

Many people interested in crypto because the value for investment, not many people too fond of crypto because of its volatility, if it want to be combined it need to be regulated, because if too many people used crypto and the government not set any regulation then it can caused inflation and tax evasion, which will bad for the country

What makes people interested in bitcoin is its high price and the price can change drastically in just a moment, it will make them gain many benefits from bitcoin investing. Bitcoin is prohibited by the government because in bitcoin there is no institution that shelter it, so no party is responsible for the existence of bitcoin.

It would be great if flat money and cryptocurrency could get along with each other. Many people in certain countries are becoming very much interested to use cryptocurrency as a tool for investment and transactions as it is found very attractive for them. So it would be great if both the currencies are combined together. Hopefully it will provide a great result.

They can co-exist together but eventually, Bitcoin will take over the fiat as world economy goes crypto.

You could even create a cryptocurrency pegged to fiat currency like Tether is. Also guys it is FIAT currency not FLAT currency.

combined with local currency I think it takes time and a long and complicated process whereas in my country bitcoin is prohibited by government for direct buying and selling transactions whether it is possible to combine

I think Bitcoin in fiat can coexist but for it to happen, countries around the world needs to legalize it and bitcoin needs to be accepted widely as payment first and not as a mere "speculative tool". If bitcoin were to continue being a speculative tool for most of us and if the blockchain of bitcoin cannot handle 30X the volume it can handle now smoothly, i am sure that it will be dethroned by a better cryptocurrency in the far future.

That would be the ideal situation but fiat and cryptocurrency would be compatible with each other. Currently, some countries view bitcoin as an alternative payment to their services/products and you also have the option to convert your bitcoins to fiat. Depending upon the government situation, bitcoin and fiat may be possible utilized but it will create a conundrum between the two forces as they may conflict and cause further conflicts in the transaction aspect.

I believe that once bitcoin has been legalized, it will eventually become a currency that will be existing electronically- which will ultimately eliminate the purpose of peer-to-peer transactions.

Combining Bit coin and Fiat currency is quite impossible. Fiat currency is under regulation on the other hand there is no regulation on bitcoin. If those two are combined it brings many benefits for crypto market.

I think so. Right now, we are actually combining the two. There are certain transactions that impossible to happen with Bitcoin. Included in these kinds of transactions are those that involve areas beyond the reach of the internet. Only the fiat currency could be used in this. There are also areas where electricity has yet to reach. We cannot use Bitcoin in these areas as well so fiat will be the only way. 

In some countries, they have not introduced laws and regulations for Bitcoin advertising, which led to the ban. They fear tax evasion as well as money laundering with Bitcoin. :'( :'(

I doubt that it is possible to combine two currencies - digital and Fiat. They compete with each other and the Union is contrary to many rules.

In terms of flatness, it has enough factors, according to this one just in time to accept it by everyone

  Yes, it is possible to combine both as is it already happening in some countries that have legalized the use of cryptocurrency. Some online retail store are already accepting payment through cryptocurrency (mostly bitcoin in this case) and many more will join the train as time goes. Some of those that are yet to legalize its use are mostly concerned either about its abuse such as use for money laundering and the likes.

what are you even talking about here?!!!
the countries that have banned cryptocurrencies are  rare. it islike 192 countries that consider bitcoin legal either as a commodity or a currency and 3 countries that have banned bitcoin!!!

why people choose bitcoin you ask? because bitcoin is the only decentralized currency, because it has a lot of potential of growth and getting in now means being early adopter,...

I think it is not possible to combine fiat and cryptocurrency. As they both got many differences and I think cryptocurrency has more potential than fiat money.

That's a better idea the economy surely grow, fiat has stable value and bitcoin is unstable in terms of value but has more potential than fiat money.

The fear of those who have maintained a position against bitcoin is not about existing together but because they are scared that if allowed bitcoin would surpass their own currency and all parameters point to that. In every climes of the society where fiat and bank accounts is being used that can be traced, people still find a way of hiding their resources from the prying eyes of government I then imagine what would happen in the case of adoption of crypto currency and the moment government loses such control then we can just assume there is no government.

However, a way out is for each government to have its own backed crypto currency but at that comes with its irony because its either they need to start a massive workshop on teaching their citizens or it wont work as people who are already exposed to the current crypto currency we have would need more than some advertisement to convince them to use government backed crypto currency only if it can be converted to BTC.

I agree. Fiat currency is controllable by the government while bitcoin is not. It is impossible to combine this two because it has big differences to each other. Bitcoin is good for investment because of the high potential to grow and increase its value. The value of Fiat depends to the economy of one country which make it stable while bitcoin depends on the demand and supply on the market. Bitcoin can be banned by the government while fiat currency do not.

Its good to combine this two. And its good for us because even if we don't have fiat with us we can go where ever we want and we can buy anything with the use of bitcoin.

Interest in cryptocurrencies is due to the ability to earn good money and increase their capital. Therefore, investors invest money, although the market is very risky. The income that can be obtained from the cryptocurrency, on the bank's deposit, you do not get.

Every country has different currency. More people are inclined to invest in cryptocurrency because of its volatility. Volatility has allowed people to earn more than they invested. People are not looking at the goodness of the coin now. They are more interested in making more money through cryptocurrency. Bitcoin and fiat cannot be combined. But bitcoin and fiat can coexist in any country if the government so allows.

I think Bitcoin and fiat money cannot be combined  but we can have it both as an assets, because Bitcoin cannot be use in an urban area which have no internet. But then investing in Bitcoin is incredibly well.

Fiat money can be use anywhere  even in the most far urban area or provinces which has no internet access but Bitcoin can only be use when there is internet. So it is not possible that Bitcoin and fiat money combined and stood as one. But in my case I have Bitcoin as my investment and fiat as well.

yes of course combining bitcoin and fiat currencies is the best combine that we can see in this era because as we can see that bitcoin is the one that have best security system and fiat is the one that have a flexible currencies, so i think we can combie 2 of them like use bitcoin for investment long term and fiat for daily use in real life

Well in my way of thinking, that is a good idea so that the crypto currency will legalized in many countries. For sure many people are interested in cryptocurrency because it is a very good earning and it can support the financial problem of many of us. Why would give it a try, who knows it should be a very good combination in the economy. But I know this will make a long process before the government will implement it because there are many questions that the goverment will find answer and they will need to have knowledge in the aspect of cryptocurrency.

Isn't it already combined ?
I think the fact that the banks and the other countries are looking forward to giving out their own fiat currencies this indicates the level of acceptance they have for this new technology and soon enough they will launch something that's a combination of both.
Secondly the fiat system is what supports the cryptocurrencies , since Bitcoins and all are nothing if not converted into fiat ( harsh but true ) small businesses are established but they are not that big enough to dominate the whole economic system .
Cryptocurrencies to fiat and fiat to cryptocurrencies this is what's going on and that's how. Related and interconnected they are.

As for now Bitcoin is not government regulated it would be difficult to make both equal currencies

some countries are now regulating bitcoin but i did not heard that they combine bitcoin to fiat.

 I think that will not really happen even if all countries will start to regulate bitcoin because fiats have thier own value and physical shape while bitcoin is only a digital currency that do not have a physical form. So overall that would be impossible to merge them both.


Merging fiat or local currency to another local currency is more realistic , same as when combining crypto to another crypto.

This won't be a good idea. This will create hassle in the market and this will make people confused about both of the things. Besides, the transactions might e a mess.

Yes, it is possible. Many investors believe that we can progress neither without cryptocurrency, nor without fiat money. So, we need both of them in a balanced way to gain success.

Yes, It's definitely a wonderful Idea. We are using money from the bank in the virtual form only.

Combining Bitcoin and flat currency is a dual advantage. You can use both the currencies in substitution of one another  :)

There are many people in some countries believes that it is a very attractive tool of transactions and investments. I believe, it would be great if both currencies are combined.

Of course, the result shall be positive.

Now, Everyone don't know the real value of Bitcoin, and no one is in a position to predict what the future will be for value of Bitcoin. Meanwhile, when people hold flat currency, they will know exactly how much money they have. Therefore, I think it's so difficult to combine Bitcoin and flat currency.

Both are important for us but I guess it’s not possible because btc creates value and 1 btc is equal to near $6000 based on this it can’t be possible because feat money value and btc is not same both are from different sector. Based on this Btc value is more than fiat also.

People are running towards crypto currency because it is new also smart transaction plan.

Nowadays, technology has lots of outstanding development, people created Bitcoin by the incredibly complex algorithm to have safety secure, and easy for the users. Therefore, I believe that in the future people will use Bitcoin instead of flat currency. Finally, I think Bitcoin will replace flat currency, and don’t have any combination between them.

Its really impossible because cryptocurrency created to compete with fiat money in terms of transacting around the world. I don't see any reason to combine this two currency because they have both pros and cons. Let's just maintain the old system and of course adopt a new one so we can have a bright future.

Firstly, Bitcoin was known as a cryptocurrency, is an applied technology product blockchain. It is expected Bitcoin will become the new exchange tool with many advantages over flat currency. However, one of the reasons why Bitcoin fell because more and more like a type of assets rather than currency. We can understand it like stock - shares. Meanwhile, flat currency play a role as brokerage in the exchange of goods, services and means of helping the exchange process is easier.Therefore, We can see that the nature of Bitcoin and flat currency are different, they can’t combine together

I think it's so difficult to have combination between Bitcoin and flat currency. Because the nature of Bitcoin is unstable, uncontrollable, without prediction and can crash at any time.

it seems impossible if we try to combining the flat currency and bitcoin, because the basic principal and fundamental system of them is different one to another. But, i don't know, maybe in the future if the technology more advances than now, i think it could be possible.

I dont think that it is possible to combine both. Bitha re separate things and need to be seperate

I think there is no combination between Bitcoin and flat money. Because Bitcoin is programmed by complex algorithms, and is suitable with commercial transactions, is not convenient to buy something in the supermarket like flat currency.

I think you cannot combine bitcoin and flat currencies because that currency was so different. But you can use that currency at the same time. In the real world, if you need to buy something in the sari-sari store, you need to have flat currency because they accept flat currency. And if you buy something in the online shop, there is some online store accept bitcoin for payment, you can use it to buy. Like what I said in the beginning, you can use crypto and flat currency at the same time.

There are different classes of people who invest in cryptocurrency and they do so for different reasons. Some is because it is not monitored or regulated, some because of its volatility thus, they can put in money today and the next day they are rich and some is to hodl it for the future because of its potentials especially bitcoin.

These above three points mentioned are not found in fiat, so if cryptos and fiat exit, it will help the economy more.

At first, all we known that in our present time some of us are already using both bitcoin and fiat currency and I think there are no problem to it. It can use this both at the same day and time. It's up to us on which of this both are we much prepared to use. Cryptocurrencies are catching the eyes and attention of the huge of people because there's a fact that there's a possibility that their currency can be multiply by two or more.

I think fiat and bitcoin now live side by side. But it will be difficult to keep walking along. While the main purpose of the creation of bitcoin is as a means of global payment. But if we think about the main purpose of creating bitcoin to become a global currency, it will be difficult for us to make it happen while people still make bitcoin as an investment tool and most of them just think about the profits they should get from bitcoin rather than the future of bitcoin.

those people that still consider cryptocurrency even their countries think this is illegal because they do believe about the technology is the future for the whole world

Fiats and crypto cant be combined because they have different form,when crypto is virtual and fiat are physical though they can exist together

They only see it as a speculative asset and not currency or the most common reason is it is used for criminal activities. The fiat and crypto can really be combined and it will happen in the future.

Everyone likes crypto because it's decentralized, anonymous and unmanaged by the government. The opposite currency, so the combination of them as you say is impossible

May be it is possible if and only if, your government will allow your country to accept and legalized bitcoin. After that, you need to know the opinion of the netizen whether if they agree with this or not.

I think it's possible that they go hand in hand. There's no major issue for the government besides potential taxes being lost due to crypto, but they can still ask their people to pay taxes on cryptos based on an honor system. Probably won't work well, but it's an option. Besides that, I see that governments being nervous about the anonymity aspect. If you don't know why your money is being used and where it's being transacted/created, then there's an issue with potential uses for the wrong means. Terrorist organizations could hide behind the anonymity to get away with what they do, and that could be an issue. I think most of the issues come based on the government itself.

Indeed, many state governments are prohibiting crypto currency. I analyze because crypto currency is often used for crime transactions and crypto currency is not regulated. Therefore, the government feels doubt if this crypto currency will damage the country's economic system. I also strongly agree if these two currencies are combined only. I do not think that we can always transact with fiat currency and not always we can transact with crypto currency. In the real world, surely we do not always transact with crypto currency so we need fiat currency. On the other hand, if we want to transact cross-country quickly without being impeded by state policy and tax then crypto currency as the right choice.

Bitcoin attracts people because of its price and capabilities. Using bitcoin have lower fees than fiat currency. Why government ban cryptocurrency? Because it can be used for bad intention like money laundering, scamming, tax evasion etc. though it has advantages too and it is decentralized and global. Unlike fiat currency which is backed up by the government and have higher fees for payment transactions but can be used anywhere.

Different combinations of crypto currency and money fiat are quite possible and I think that over time their various combined forms will arise. Interesting in this regard is the experience of Singapore's Tangem firm, which issued banknotes with a face value of 0.01 and 0.05 bitcoins. This is already the first combination of crypto currency and money fiat.

Makes absolutely no sense to me that anyone would want fiat to be integrated into the bitcoin system. Not only is that pretty much impossible to do (since how are you going to integrate a centralized currency into a decentralized one?), it is also bad for bitcoin, as it would mean that it has ties with fiat and isn't an independently decentralized currency anymore.

I think that most people use bitcoin as a store of value at the moment. Some use it as a form of payment as well.

These are the two main reasons why people still use bitcoin, instead of fiat. The most unattractive trait of fiat currency is that it goes down in value over time. Bitcoin is a hedge against that, so even though fiats are still readily available to be used, some people will simply diversify their wealth into bitcoin. There is nothing wrong with that whatsoever.

a good idea, but crypto and fiat currencies will run on every its track, and can not be combined between fiat currencies with crypto. and that's not possible. one of the reasons the government bans bitcoin, because bitcoin is a threat that can make the stability of fiat disturbed.

but I think both can be used as a transaction tool, and the bank can accept blockchain, because the reality, of crypto will make a country's economy become stable, like Venezuela country.

that's not possible, crypto using blockchain and fiat does not use blockchain. Crypto decentralized and fiat centralized, both are different, but can be used as a means of payment.

it's just different about the system, and fiat will lose if it can not innovate the system.

the government is worried if crypto legalized, then the crime rate will be high, because using crypto for criminal will be difficult to be tracked. so some countries choose to ban crypto.

but, it all can be overcome if a country makes a clear regulation about crypto.

People are already fed up by using the centralised fiat currency.So they are eager to use the newly invented crypto currency.As far as governments are concerned,they fear that allowing cryptos might make their fiat currency value to fall.Also they find it difficult to trace the crypto transactions.

I think it's better that the fiat and cryptocurrency currencies can be combined, and indeed people like crypto because they can avoid taxes and the government is afraid of losing taxes.

Indirectly, both have been combined.
Because there will be no Bitcoin that becomes Fiat, if there is no combination and cooperation from humans. Like someone who sells Bitcoin to USD and draws USD to their ATM.

I think it possible and we only need regulation from the government.It aims at avoiding conflict between these.two different currencies.These can take the same function and support each other. Also  fiat money crypto can promote economy of the country.

Have you not heard about USD and bitcoin pairing or any fiat currency pairing being listed in exchanges, you really do not need to do anything else to pair these currencies together and it is not bad for bitcoin as people usually invest in bitcoin with their fiat currencies as they do not have the power to create wealth from vacuum. :P

 
If you look at the stats only a small percentage is using bitcoin, the strength of a fiat currency depends upon the financial structure of a country and if they  have a solid infrastructure and good economic policies it will not depreciate in value over time, people like to diversify their wealth in every investment platform and we are yet to see institutional investments coming into this market and when that happens the price would rally to more than a trillion dollar valuation.

If in combination this will indeed be a very good system. With the various advantages possessed by each then we will be able to use a much better financial system. Fiat and crypto will become a very varied system and can improve the financial system in the world today.

Peoples more put trust on bitcoin because bitcoin have transparant transaction and almost unhacked. Maybe combining bitcoin and fiat currency can happen but government should issuing regulation first

Well, even if the government is launching its own cryptocurrency I am sure that government will never share the control with anyone else including the users so it doesn't make any sense to me to call it a real blockchain based decentralized currency as the users won't have the control on it. On the other hand,  users are able to control their funds in the case of decentralized cryptocurrencies.

I think it is impossible to happen because not all laws in will support that activity since it can cause a big trouble in future and not all countries are applicable to this combination of two currencies.