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76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

Decentralized cryptocurrencies are alternatives not a replacement, but maybe CBDCs will replace fiat over time, and that is not a replacement as they are the same thing, centrally controlled by the government, CBDCs will be more privacy depriving.

Of course it's theoretically possible. But if it will actually happen or not, time can only tell.

What? Definitely not. I'd even go as far as saying that most of the traditional "finance professionals" still thinks that bitcoin and the cryptocurrency space is a scam.

First and foremost, the OP should edit the title thread as I think he meant fiat here -  Crypto will rival or replace crypto in 10 years?

And yes, I do agree that a lot of these traditional finance professionals still think that crypto is still not a legit digital asset if not a scam. Only few percentage of them are convinced about the capability of crypto in this market. I don't think we will see this happening in our lifetime, if in case crypto will ever replace fiat in the future.

Replacement of fiat? No, I don't think that we will see volatile cryptocurrencies replacing fiat currencies ever in the future. Governments of big countries don't think of taking such action now or later. Instead, they are developing their own digital currencies which are nearly guaranteed to replace fiat currencies. And it might happen in 10 years, who knows.

I got confused too by the title of the thread but back at the point of OP's thread I thought crypto will not going to replace fiat existence. I mean, crypto will become a one  of the world's financial asset but replacing the circulating fiats in the respective country is impossible. But I do believe that once the crypto become a legal tender in many countries this crypto assets will become the most used kind of finances and the utilisation of crypto will grow and so the market demand.

In my opinion, it is very likely that in the next 10 years crypto will replace fiat currency because I think that blockchain, the technology that underpins this cryptocurrency, is superior in scalability, hence has boosted its global acceptance. Companies should adopt crypto and blockchain, otherwise they will miss the opportunity to make a profit.

It's normal to see some biased speculation in the future but in reality, fiat will always be the king.

When in the early stage, we use to talk about crypto as an alternative currency only, and we promote decentralization, so there's no way it will rule in a world that is centralized and controlled by a government. Let's forget about that possibility as it's unlikely to happen, unless the time will come that there's a chaos and the government will fall.

could it be true? or not 100% certain, so far crypto is still an alternative and investment instrument. So if in the next 5 or 10 years to replace fiat, then what about the fate of CBDC? Isn't that what is being worked on to replace fiat? The government will not sit idly by as the CBDC shifts its seat.

Replacing fiat money is not easy to happen especially now that they are also adopting online and creating fiat as an online money. For me, I don’t see any replacement here but a good rivalry where people are able to choose on which currency they’ll use, a more freedom for everyone.

I don't think so, traditional fiat wouldn't be replaced by cryptocurrency because government wouldn't allow this type of currency as the main currency for the people. First thing that I look upon on this was due to volatility, economy of a certain country couldn't afford to see it happening. We need an economy that's stable, basically fiat currency is the optimized currency in order to come at regulations and not digital currency.

That would be like saying the Model T was replaced, the product evolved and I'd expect the mainstream will alter BTC in some ways but not completely.  I can see BTC changing its protocol to some extent so long as it improves efficiency and perhaps does so to include latest technology developments.   Its never going to change things like being decentralized or other alt coin mutations that arent really advancements.


FIAT is a digital asset already, almost all volume transaction occur just on paper or more precisely digitally which might be then printed off.  Theres no worth in coin literally or even nominally and same is true of printed notes, its not a significant factor especially.    This is important part of why most inflation is not acknowledged I think.
 If the monetary base increased 25% in one year thats your inflation and failure of value in conventional currency.   Most wont agree to this view but supply and demand, economic rules true over centuries will weigh against most modern ideas.  Someone told me recently government is a capitalist enterprise; I think we have endless wasted energy expended due to the size of government this loss is not acknowledged.

Maybe not volatile cryptocurrencies but digital currencies which are stable and developed by governments are going to replace fiat in the future. I don't know, maybe it will happen in 10 years or even more time. But sooner or later, it is very likely to see this. Governments can't go on with fiat currencies forever. You can't stop their devaluation by continually printing money. On the contrary, you are helping the devaluation in that case. Some day, we will see a big economic recession and it will affect fiat very deeply.

It's only a rivalry and wouldn't come to a point replacement will happen, because we aren't sure yet crypto still exist within 10 years from now. The world is changing and evolving, every now and then there's a possibility that in due time there's another trend that would make digital currency become obsolete because of technology advancement. But, traditional money won't be out of circulations and world bank is the main reason to that strong support would never be overtaken.

5-10 years? I doubt that is possible, fiat will remain still as crypto is not yet adopted.

It could be, but countries should adopt it as well as I have said. If only less than half of the nations around the world adopt crypto then the likelihood that it will replace fiat is slim. But it's good that we are seeing crypto as an alternative already, specially for those unbank peeople around the world.

Crypto decentralized fiat money can never be replaced if the competition between the two currencies starts, the value of crypto will be higher than that of fiat everyone uses crypto currency as their own the two currencies will compete but no one will be able to replace them. The crypto government cannot control even if it wants to governments usually thrive on stable currencies digital currencies do not support instability.

This is vague. What exactly do you mean digital assets replacing fiat currencies? If you are referring to digital currencies replacing fiat currencies, that is actually just the same fiat converted into a different form. There is no replacement there. But if you are referring to cryptocurrencies, Bitcoin more than others, as outright replacements for fiat currencies, then I don't think it will happen. That will never happen because no government would ever allow a currency not created nor controlled by the government itself to become its official currency.

Title is wrong i think you mean "Crypto will replace FIAT" in 10 years .


Indeed like that , i know that Crypto will bloom in the next 5-10 years but replacing Fiat ? for what reason ? who will completely support?

Fiat of each countries has their Beloved heroes and presidents faces , do you think they will let crypto erase those ?

Fiat will remain , but crypto will serve priority .

+1

Why people been thinking about replacing to each other considering that they do have specific purpose of their existence? Talking about CBDC's then i dont really consider this to be a crypto
but rather in near with digital fiat. Anything that do opposes decentralization wont really fit out on that criteria.

People do really love on rivaling things around without trying to understand off that it isnt really that considerable for it to happen.

There is no need to replace fiat to digital crypto currency, I think it is more good when we can choose both fiat or crypto it depends on us on what we want or what we select if we wanted crypto then we used crypto of we wanted fiat then we used fiat isn't that amazing?.

This argument has been going for so long now, of course we love to see crypto being adopted, but no, it won't replace fiat by any sense. And I will echo the sentiments, crypto is more of an alternative to us, so there's no need to replace anyone here. The best thing right now that crypto gives to us, is that we have options and it will give us financial freedom and of course generate profit as well.

I think cryptocurrencies have a good chance of becoming the world's reserve currency, but it will take a long time at least 10 years. In developing countries, cryptocurrencies especially bitcoin are valuable to avoid censorship. While some countries are developed, cryptocurrencies are attractive as a hedge against the printing of central bank money.

With the growth of technology in all aspects, there is a possibility of replacing fiat money with digital assets and we may see digital money in the future. Actually, we already have digital money or assets in many things but do not pay attention to that. For example, people now use applications to pay something and in their account, they already have a balance that they send from their bank's account. It shifts usage from fiat money into digital money and it will happen to the assets and with crypto become more popular now, it will change the situation.

Of course, this is just a speculation that has no factual basis. Some random managers were asked for their private, unsupported views. I am not saying that this will not be the case, but we have to take into account the fact that a bear market will come soon and the situation on the market may change for the coming years. At the moment we see everything very positively as prices are rising. If there is a bear market for the next 3 years, then the possibilities of cryptocurrencies will decrease significantly and the adaptation period may extend even up to 20 years.

I don't think that the volatile cryptocurrencies will be able to replace fiat money in the future. The high volatility will prevent these cryptocurrencies from being made legal tender all over the world. However, Bitcoin doesn't aim to be the global currency. It just needs to stay as the people's money. In the future, Bitcoin will maintain itself as one of the strongest alternatives.

I think your title is a typo because it seems that your title and your thread don't match. To be honest, I think that bitcoin isn't a rival but a looming threat to fiat because it has already surpassed bitcoin in value, the only thing that needs to happen is crypto replacing fiat but that's not a good thing to happen.

I admit that in the next 10 years 80% of fiat currency will be replaced by digital currency, inevitably the development of digital technology will be more sophisticated in the future and many investors will switch from fiat currency investors to digital currency. many institutional investors are starting to look at the development of blockchain and some investors have started investing in bitcoin.

Digital currency wouldnt really talks about cryptocurrency but rather it would be still on digital fiat which isnt talking about crypto thats why i dont really see this to be revolutionary.

We are going through cashless society anytime soon as we go ahead in future years to come and fiat or paper ones would be somewhat be replaced but it would still takes time considering on how useful it is in terms of
non online payments or transactions.

Cryptocurrencies is totally different into those centralize digital currencies.

yes, digital currencies can be anything, from government digital fiat currency in a blockchain, which we should expect in the near future and i am expecting some governments coming out with their version of stable currencies. Whatever be the situation things are really exciting as the possibilities are limitless.

The market is more over moving to a cashless society with different application allowing us to make transactions but for it to become a complete cashless society it would take decades.

Everything can be a cryptocurrency if they are secured by cryptography, the only difference will be centralized and decentralized.

"Alternative." It's true for me in 10 years+. 5 years? I doubt it.
It's already happening but it's crawling. Gambling sites are mostly using cryptocurrencies and they have different options from Bitcoin to Litecoin.
It may be slow but as long as it is moving then I think we are going forward instead of backward.
The pandemic was also a big hit for us and it made some people wonder about how they could safely complete their transactions in a different method.
There is growth, we just need to be patient.

Here we go again with the crypto vs fiat argument.

Online payment or digital payment is not always crypto. Fiat online payment is much faster and quicker compare with crypto. Let's face that. Crypto in 5-10 years will still consider as an investment more than currency.

Why should fiat and crypto be rivals if we can get both advantages and benefits using both?

This has already happened, though.

It's not like people aren't taking BTC seriously right now. That's just a minority of people, and there is a ton of countries and economies that are taking BTC up as a reserve asset or even legal tender currency (e.g. El Salvador).

The future is indeed now, friends.

The root word is "alternative", fiat currency cannot be replaced at least in this current timeline. Fiat might gradually be replaced in the far future, but 5-10 years is such a short period of time for people to innovate a system that cannot be interrupted during online and offline transactions using digital currency.
Fiat has no flaws when doing transactions. Digital currency has a rare occasion of a system failure.
So, again fiat and digital currency will forever co-exist.

This question has been asked many times in the past 5 years.

The things to note are: Any crypto from now onwards is still traded with fiat money, so it is unlikely that crypto speculation will replace fiat currency, that's the point, except: crypto is traded with crypto, I mean crypto can be used as a currency for buying / selling transactions for daily needs, but for now there is no, although some cities in certain countries provide transactions with Bitcoin, however, the process remains to fiat.

The bottom line: crypto will not be able to replace fiat currency, fiat is legal in every country while Bitcoin is not legal in some countries, that will not happen.

People really wonder whether cryptocurrencies would replace fiat in the future but I don't honestly. Because I already believe that volatile ones will have no chance against fiat or even the digital currencies developed by governments. Governments wouldn't like to deal with a volatile currency. They would actually make volatile ones their currencies but it is on the condition that they will shape it in the way they want. But this time, for example Bitcoin will lose its identity forever.

This is a speculation i am hearing for many years that Bitcoin could be the reserve currency but now a days we see many countries planning to come out with their digital cryptocurrency and hence i am not sure how these speculation will come to fruition or not, either way it will take a long time to see those massive jump and the price needs to be almost stable to reach that position of any government planning to make Bitcoin a reserve currency.

I think cryptocurrencies will replace or rival fiat money in trading. Cryptocurrency as a trading tool is still in its infancy, but it seems that the next 10 years will bring new innovations that will make it possible, as will the use of fiat currencies.

It's not rival but replace, no way in hell that fiat rivals cryptocurrencies when it comes.to trading because look at how exponential the growth and possible profit you can get from cryptocurrency compared to fiat. Not to mention that fiat is also affected heavily by inflation.

I understand that it is pegged to fiat right now and that is why it is difficult to change it for now. However it is "now" that it is pegged to fiat and I do not think that it will continue forever, eventually there could be a situations that could allow it to be not pegged to dollar all that much.

Plus when you have dollar, but also put bitcoin as legal tender somewhere, you are basically replacing it, and people will not be selling coffee for 10 bucks, they will sell it for 0.0001983 bitcoin. The only problem we are facing right now for something like that is the fact that bitcoin has a huge transaction fee to make something viable. If we could find a way to make it faster and cheaper than I believe it could be something that would turn the world into fully bitcoin world. Not today of course, not for another 10 years, but it has that potential in the future.

I don't think that crypto will be able to replace fiat money in the future. I mean that especially volatile ones have really no chance as long as they maintain this feature. Governments are not leaning towards making a volatile currency their legal tender. I know that El Salvador has made it but it is not a developed country in the end. Instead of cryptos, stable digital currencies will be our future in terms of being our main currencies.

I agree, that it is these three kinds of things that often make the crypto market not run as it should, the common goal of being an asset of the future is difficult to achieve. Wouldn't we be better off side by side and walking each other in different areas even though with the same goal of creating a digital era on an unlimited scale and realizing the freedom of every individual in all aspects of ownership.

For me it looks like option since eventhough how solid the digital currencies by now still we need to see deeper picture of it and there's no way for crypto to reppace fiat since there's no governed bodies will push it to became more legal and suggest to adopt the technology maybe there are some independent government will try to use it but for sure the one most prepared are still fiat since some other oldies doesn't like their money to be seen only they want to touch it physically.

You say you understand what I'm saying, but still talking about, benchmark, maybe, you yourself don't know, when, so if it's not pegged to fiat what to peg someday what horse, camel, imaginary.

Man, the meaning of 'maybe' is broad if it is defined as: who knows, it seems, roughly, supports, strengthens and so on, So which government/country wants to eliminate the fiat currency of its own country and replace Bitcoin as a legal currency for buying and selling transactions for its people, that's your dream, don't like wishful thinking.

I want to ask for you.
1. Can Bitcoin be stable like fiat currency, fixed value like 1, 5, 10 dollars.
2. Can ordinary people who do not know Bitcoin internet be able to buy one cigarette with Bitcoin, how much is the transaction fee for Bitcoin and how much is a cigarette and how much is a bunch of vegetables and how much is the transaction fee for Bitcoin and so on, think healthy and logically.
3. If country A has agreed to replace Bitcoin as the country's fiat, then do countries B, C and Z agree with it.
4. And what about when you need or buy things that are really needed in seconds, hours, the same day, while currently the lights and internet are completely off, what do you do, if you don't use fiat anymore.

You think, don't think Bitcoin is physical like fiat or how and Bitcoin who created the government or @Satoshi, where are Bitcoins minted and with what materials are Bitcoins minted with gold, silver, bronze, tin or what and what if people don't own Bitcoins at all and How do they want to buy them.
Bitcoin while fiat can't be used anymore, can it be exchanged for fish, coconuts or with horses.

Why don't people think logically that Bitcoin can only be traded and buying/selling can only be done with fiat, why not use common sense instead of using a frozen brain.

I think it's hard for cryptocurrencies to replace fiat, because there is a fundamental difference between crypto and fiat currencies. The most notable is the decentralization of cryptocurrencies, while fiat currencies are centralized or centralized. The centralized system means that the currency is controlled by a certain entity, in this case the fiat currency is controlled by the government or the central bank.

Fiat is an important thing that can’t be replace, they are also adopting the growing market and some fiat money already have their digital options so I don’t think it can be replaced easily. As far as I know China already have digital yuan so what’s the use of crypto if they already have digital money? The government will do everything for fiat to stay, its better for crypto and fiat to work together than to compete with each other.

Digital currencies, cryptocurrencies are just an alternative payment system, not will not replace fiat even 100 years from now, IMO. Remember that not all we live in the digital world were just about to adopt as we can see that this could help us but not a reason to replace everything. Maybe this innovation is so helpful to others but it might be helpless to others as well especially for those who are incapable of doing this. Could these old and non-techy people make it? They don't for sure and they remain using fiat as their comfort zone.

Fiat would exist no matter what as long the government do exist then for sure it would stay and crypto would just really be staying up as an option and speaking with CBDC's then they would also remain as long they

do consider out on creating one but wont really be enough to replace fiat or the traditional ones.They might come digital but it would really just served as an option thats why its really a very wrong kind of mindset
or presumptions in mind about replacing it on upcoming 10years.

Better dont mind or dont stress yourself out in regards to this on which one things that are almost impossible to happen.

Fiat will remain to be the major means in financial ecosystem. Crypto may just be an alternative, but I also don't see it replacing fiat in the next 10 years. Lucky for us if the adoption is really massive for the next 10 years, but we will remain to be fiat-based. I also don't see crypto replacing fiat in our lifetime. Most people still prefer to deal with traditional banking system.

even, countries that have special regulations will still make crypto as an alternative and will not replace Fiat in a country. however, the regulations that a country has will make Fiat irreplaceable. other than that, all that decentralization will not be embraced by the government, because I feel that it will not make a big change to the income of the state, unless the individuals, or companies that take advantage of it. So, I also think that bitcoin, or any other cryptocurrency will only be an alternative, and not to replace fiat.

I think crypto will maybe rival fiat but if you say replace maybe that is very impossible. Because as a decentralized digital currency, there is no standard or global bitcoin price at any given period of time. So I think some people will be afraid to use btc for they used fiat for very long time before crypto become well known people used fiat and I believe they will always feel comfortable using fiat than crypto that has an unstable price and value.

El Salvador has made Bitcoin as the legal tender along with US Dollar. And that means that Bitcoin is already a direct competitor to fiat. And I have no doubt that in the next few years dozens of countries are going to make BTC as their legal tender (especially those who don't have a national currency right now - such as Ecuador and East Timor). But complete substitution is not going to happen anytime soon, I am afraid. Large sections of the society remain opposed to Bitcoin (especially the elderly).

Mate people been speculating  this  crypto takeover since 2015 (https://www.e-ir.info/2015/01/13/should-fiat-money-be-replaced-with-virtual-currencies).

These kind of topics always keep showing up every now and then for some reason but i dont think crypto will/can replace the dollar anytime soon ( not that the government will allow such a thing to happen),for one simple reason its way to unstable,and unpractical to use in our every day life.

Yeah and how's that working out for them (https://www.ft.com/content/56f1f053-3ac1-424a-97d6-6bbf9a12fa1d) ?

No need to wait 10 years, even now in some countries that allow crypto as a means of payment, I've seen competition between crypto and fiat.
But as long as there is healthy competition this is not a problem, so it makes people have the choice of using fiat or crypto when making payments.
If crypto is going to replace fiat it's unlikely that it will ever happen, like you said, volatile crypto prices and crypto that cannot be controlled
by the government. Making crypto only as a payment alternative, and even some people's financial transactions will still use fiat. So besides
the government will prevent crypto from replacing fiat, most people are used to using fiat, so it will be difficult to get people to fully use crypto.
The conclusion is that crypto will become a rival to fiat, but it is impossible to replace fiat. But in my opinion, fiat and crypto are the best co-exist,
because both fiat and crypto can complement each other.

If you take a close look, it is not a big surprise that third world countries that are struggling with their economic situation will be thinking to adopt BTCitcoin and that is the situation happened with El Salvador and i am not happy with they way they approached in making it a legal tender as i believe that it will backfire in the long term simply because they rushed everything.

It is not that the elderly will be against BTCitcoin, you should not force people to use any form of currency. The best you should do is to give them the freedom to use and if that is a free choice to opt for any form of payment then that is the best solution and that is the kind of regulation i want to see rather than enforcing or forcing anyone from the cryptocurrency market.

just like you said, digital assets and it doesn't mean in particular bitcoin or any other crypto we know right now, if a digital asset can rival with fiat it has to be almost perfect, we might see some new networks or something totally new, I really do believe it could even take over and fiat would be from the past, let's hope we live to witness something like that.

In 2008 around the time Satoshi was apparently taking notice of main markets, they started a process of QE which had never happened before in the west and certainly not with the global reserve currency of the Dollar.    Some did speculate the end of FIAT as we knew it within five years or less after that depreciation of currency and accounting standards.   However QE as an idea and debt in general has been more resilient then we anticipated hence here we are still waiting for the big change from what is obviously a leaky bucket to get something more reliable as a currency in mass exchange.
   The point being I would similarly relate BTC as not likely to take over in 10 years, it will wait in the wings and hope keep improving and being more useful but I dont see a switch over within a decade based on that old '08 story we are still spinning.

Fiat maybe will be digitalized, but to replaced with crypto i don't think if that easy to happen. Because government will always use fiat as main payment, even if crypto already legalized, will be hard to change payment in all over place, need time for people to learn, adopt and anything else. If me i will just happy crypto as assets and maybe as alternative payment. Will made it more balanced for government, users and another else.

Even though so far crypto has shown its advantages and its popularity is increasing... but I think the possibility is very small to replace Fiat even that is impossible because fiat is very sticky to each country. Crypto would be more appropriate as an alternative for each country with its various advantages, and its prominence will be recognized just like ordinary currency.

I think the future will have more people in crypto, but fiat will continue to co-exist with it.

A bit similar to how now we have cash and credit/debit cards side by side.

I reckon more people will use Bitcoin to pay for goods and services directly though, without converting to fiat first.

We will eventually have it as a standard third payment option: cash, card, crypto.

I also think the same as you because the government does not want to use something they can not control. I will prefer to see crypto and fiat can work together and solve the financial for every people. Even if the government can not control crypto, they can see that people will have another option to pay. I think that will be better for both fiat and crypto as people can also have a new investment for their future.

I agree that this is the most likely scenario, revolutions take a lot more time than what most people think, while it is possible that at some point in the future bitcoin and other decentralized cryptocurrencies dominate completely the market of money this is not going to be something that happens soon, bitcoin is going to coexist with the current system for a very long time, however I do not really have a problem with that as long as I can use my bitcoin free of interference to buy goods and services I want, so at that point I will not care what other people use and they can use whatever option that suits their tastes.

Both would exist for sure and i would rather believe that crypto would be gone instead of fiat and as said on where government wont really allow things that are out of their control which simply means that fiat would
remain no matter what and being optimistic about crypto isnt bad but considering about replacing fiat is only happening in our dreams and not in reality.There would be lots of things to be debated first
and your main enemy would be the government itself.Would you stood a chance? not even 0%.

Hopefully, crypto will not be gone for a long time, even if the government does not like crypto. I will not think that crypto will replace fiat because as long as the country still has a government that rules the country and has its own currency and controls everything, fiat will still exist. Maybe crypto will be on the grey side with or without approvals from the government but people can still use fiat in many ways, especially if the internet is still available in their country. We can not go against our government, but if the people do not trust the government and want a change for their country, people can defeat the country to have a new government. We know how strong the citizen when they all join together in one action.

yes in the future crypto users will increase sharply and both can coexist. but of course they both have different purposes. a person keeps fiat to buy something he wants, whereas keeps bitcoins for investment. both have different roles and functions so they can coexist without having to knock each other down.

Crypto will never replace Fiat because it's unstable, decentralized, and somewhat-limited. I've said this many times already. Banks won't give up Fiat especially when governments continue to patronize them. The whole world moves around Fiat, making crypto only an alternative for those seeking into true financial freedom. Blockchain tech will only force banks to phase out paper money in exchange for a new digital Fiat system. CBDCs will allow them to still be relevant even with decentralized cryptocurrencies in play.

A huge advantage Fiat has over crypto is stability. You'll always know 1 USD = 1 USD no matter what. The same cannot be said about Bitcoin and other cryptocurrencies on the market. For this and many other reasons, I don't see crypto replacing Fiat anytime soon. People want stability and convenience, so they'll choose Fiat over crypto anytime. I'm not being pessimistic here, just saying the facts. Maybe someday if crypto becomes more mainstream, it'll be able to "beat" Fiat. Regardless if crypto replaces Fiat or not, it'll last a lifetime thanks to its decentralized and censorship-resistant design. Just my opinion :)

Yes, but I think that you need to distinguish between CBDCs and decentralized, trustless cryptos.

The former is almost 100% going to replace paper fiat for the sake of better tracking, but the government will try to delay the progress of the latter as much as they can.

70% seems a reasonable estimate of the probability of decentralized cryptos acting as a global reserve currency in the next decade though.

CBDCs would rather have a chance than with truly decentralized crypto coins in the market and just like what others been saying that as long do government exist then this thing couldnt really happen at all.

It is way too impossible for fiat to be replaced even lets say for 20 years to come.There might be some other options or alternatives but it wouldnt really be enough for fiat to be truly be out of the game.

Also, not all people are get used to techy things or do happen online and even with the simplest transactions there are still people whom do prefer cash.

As the world is going digital, CBDCs are really one option of the governments to get involved with if they don't want these decentralized cryptocurrencies.
I do agree that CBDCs has higher chance of adoption among governments but it is still fiat-based just converting it to digital form.
So yes, crypto will never replace fiat in the next 10 years to come or maybe in our lifetime.
Crypto adoption may increase but in my opinion, it would be very hard to replace the fiat system.

You brought two points that while not mentioned much severely limit the potential of this happening, the first one is that people are not as freedom loving as we think, look at how much of their data they share willingly and unwillingly with social media and their phones, something like bitcoin sounds great in theory for a lot of people but at the end they do not want to take responsibility for their lives, and the second is comfort, people do not want to deal with checking if the wallet they installed is the correct one or keeping their computers free of viruses, they want convenience and they are willing to sacrifice all their freedoms in order to get it.

Not really that possible to replace no matter what.Government do exist and as long they are there then it cant really be possibly to happen for a decentralized thing will take over and even lets say for next 20 years

i cant really still see the probabiilities.Its really good to be optimistic but becoming too much on this sense wont really be that realistic anymore basing off on how this world works.

Financial system would stick out to centralized things and cryptocurrency would really just be ending up on being always an option.

Agreed, but this is a very difficult balance game they are going to need to play, and if they fail then things could easily get out of control for them, it is obvious they like the idea of a centralized digital currency and the elimination of cash as they could be able to better extract taxes out of you since they will have complete control of those coins, but decentralized cryptocurrencies are a risk for them since they cause the opposite effect in which they lose control of anyone using it, so while I think they will try to do so at the same time it is not going to be easy for them to be able to pull this off.

I think both crypto and fiat currencies have something in common, they are both acceptable because of trust to function as a medium of exchange. Fiat currency is believed to have value and is trusted as a medium of exchange because it is issued by the government. Meanwhile, cryptocurrencies, although not issued by the government, are increasingly believed to have value, and as a medium of exchange. Even some countries have long-term plans to use cryptocurrencies as a means of payment as recently implemented by the country of El Salvador.

This is a possibility as both can live together but can't replace each other because there are few difficulties which can happen. First, no economically and politically strong country will allow decentralized currency in their own country because there are many serious problems. Mostly these cryptocurrencies and digital currencies are used for alternative and these never been for fully controlled.

We can see that these could help us, but not a reason to replace everything.
Governments can use this for collecting taxes and like these things, which could be very helpful.

Fireflies like EI Salvador will only light up at night while electric lights like fiat will glow both day and night as long as its practicality persists, and for an adversary that can function as infinitely and without as many restrictions as fiat, crypto has very few competitive stages, living together under a dome of peace may be the most optimal thing possible. Centuries have been full of ups and downs but loyalty to fiat remains intact with generations, shape could be a bit better, so the decade of crypto doesn't seem too heavy to put pressure on fiat

Fiat currencies are simply too convenient for the governments to let go, they are very aware of the enormous amount of power that they are getting out of the current arrangement and they're not going to be willing to part ways with fiat that easily, and I personally believe that it is never going to totally happen, but what it can happen is that bitcoin could force the hand of the government by becoming so powerful that they have no option but to accept the fact that people are going to use it and there is nothing they can do about it.

They have in common which is actually functioning as a currency which could be used on daily transactions but the difference are notable.

-Centralized vs Decentralized
-Reversible vs Irreversible
-Traced vs Anonymous
-Stable vs Volatility

You would be seeing these key factors then you could really say that it is impossible that crypto could rival fiat and also those other stable coins are automatically considered
as digital fiat due to stabilized price which i dont see it to be considered as a cryptocurrency.

They might have the reason to let go of fiat but that only happens when they already take control over crypto. However, it was not what we've seen this time and I don't think that it has come, then I believe they will keep fiat for that sake.

Bitcoin had featured not to replace fiat in the future, it was just an option. But people who come in crypto literally not seeing this as a form of currency like fiat but it was a form of investment and this is the reason why this could be hard to replace fiat if that is possible.

I'd looked forward to seeing this could be widely used as a form of currency but with the situation of being so volatile, that something holds for the merchants to accept.

It's not going to happen in 10 years. Maybe after few decades, but not anytime soon. And don't expect a decentralize crypto currency to replace fiat. The government will never let that happen. Probably we will see a centralized government issue crypto currency that will be integrated with the current banking system which might replace the fiat currency. Then again, we don't actually need a centralized crypto currency.  Decentralized crypto currencies even if they don't replace fiat currency, they will be used together concurrently.

I can also sense that fiat will be replace in the future but definitely not bitcoin or other decentralized cryptocurrency. The government might certainly create their own crypto that has their full control. Although bitcoin can still be used as a medium of exchange in the near future but it will never replace fiat from its throne. But no worries, because i know bitcoin will definitely be a huge investment by that time because of its very expensive price that will surely create huge profits too.

A strong national currency is one of the manifestations of the state's sovereignty, one of the directions of its state security. Therefore, you should not even dream that cryptocurrency will ever replace fiat. The state will toughly respond to any manifestations of threats to its national currency and quickly eliminate them, and an example of this is the latest prohibition of cryptocurrency in China, only taking into account the fact that cryptocurrency can affect the free circulation of their digitized yuan.

for more than 10 years this has been the same topic tackled , about crypto or Bitcoin specifically will replace Fiat  but what now?
and here another 10 years that this will happen , Nope there is nothing to expect crypto replacing Fiat at all, there might be a upgrading meaning crypto use will increase a lot more but does not necessary mean Fiat will gone in effect.
this will be another thing to happen if the whole world becomes automated and robots will run the world lol.

In my opinion, fiat's competitors are cryptocurrencies, this can be seen by many countries who are afraid that bitcoin is banned, of course it is natural for fiat to lose interest so that the state has no control and profit if its citizens actively use cryptocurrencies.

I have seen these type of approaches to crypto at all times, and yet for some reason people are mistaking them as rivals, and that is the biggest problem. Why do people think that fiat and crypto needs to rival each other, why can't they just be friends and go hand in hand. Sure crypto is a currency, but let's assume you live in USA, and there are people who own euro in USA as well, does that mean euro rivals usd?

Of course not, crypto is just another currency, there are 100+ different currencies in the world backed by governments, and crypto is just another one that adds on top of that. I do not think that one rivals the other and I believe crypto will just be something that everyone can use along with their fiat together.

It has been way more than 10 years if we are talking about "fiat vs xxx" because fiat is not doing justice to people right now. People think that money is their problem and they do not realize that wealthy people made the world turn in a way that poor people rarely get to become richer. Look at all the wealthy people in the richest person list and you will see that all of them came from rich families. So in a way, we are not really having this much trouble, this many poor people, only because of money.

However many people see the problem with fiat, which could be good if managed properly by the governments all around the world, then compare it with stuff, they want fiat gone and something else to come so that they could have alternative where they could get a little richer, a little better. I do not know how that would work but I believe it should be doing better soon.

It wasn't really a competitor on the first place because crypto wasn't really intended nor being created for replacing fiat but who knows that it did really able to make something which is totally opposing

centralization which it did really turns out that crypto had really have this kind of characteristic on where some people do really put up interest due to decentralization.Some people do love anonymity

and something which cant really be controlled but for sure that fiat cant be replaced in next 10 years or even 20 years or more.

Agreed, fiat has secured a position that can't be replaced at any cost. Anonymity is part of its characteristic features, which is loved by specific group of people who wants to stay away from the centralized community. People always find cryptocurrency as an alternate way to fulfill the requirements that can't be done through the traditional fiat. This makes people prioritise cryptocurrency on specific needs and fiat on certain needs. So, there is no possibility for replacement of fiat.

And it was too sad that many were still not able to understand hence it was still clear the purpose of creating cryptocurrency. Definitely, it was not meant to be a rival, only just to happen that those people who use to pay online will use crypto as long as it was accepted but if not, fiat money would be at its work.
I think we have nothing to argue with this nor do people have to think this about a rival thing which in fact, it is not. Well, they work together in 10 years from now and people will use them both.

Of these 6% people have not represented 50% of the world's people, meaning this is speculation 6% of people, digital assets are currently widely known to humans, as an alternative to buying existing coins, but in a deeper sense, digital assets is not a rival or will replace fiat money in the following year.
If this happens, there will be many problems that will arise in the future, digital assets must be a counterweight to fiat currencies, both have their respective roles and functions in human life using them, the survey does not involve 50% of humans in the world, so the truth is still very doubtful?

There is a possibility that this will happen if you look at the developments that digital assets continue to make, so that they become a substitute for fiat currency in the future, but if this continues, there will be friction between digital assets and fiat currency, which will continue to have an impact on human life,the stability of the two will continue to be turbulent, when digital assets will continue to be associated with fiat currency, and this will be very dangerous for the survival of both, I think fiat money and digital assets must be able to live in tandem with today's developments?

in the next 5 to 10 years the popularity of crypto will definitely beat fiat...

I predict people who make transactions with crypto are far more than fiat because it is cheap and easy but the existence of crypto will not eliminate fiat because the government will definitely not allow it.

Even at the present i can say that crypto has already starting to gain interest not just as an investment but also making it as a currency. And i know after 10 years, crypto might already co exist with fiat and is already integrated in banks, but never will it replace fiat in the long run. Its decentralized and being highly volatile in nature will more cause confusion to the people. And the government will never allow it to happen knowing they can't be more transparent like crypto.

No man can be so sure of that though. But left for me, I don't possibly think crypto will replace fiat in 10 years, as 10yrs seem too near. Matter of fact, I prefer them to continue working together as they both have their use cases.

Why people do really think off that fiat would be replaced?Why cant people just see them both to be existing and just like on what others been thinking then its really impossible for fiat to be replaced.
Government wouldnt let that thing to happen.There might be add up but there would be no removal of things specially with fiat not only on the sense that government doesn like decentralization
but also there are people on the world doesnt really know on how things been done specially on digital transactions which would really be limiting out that kind of probabiliity.

Is it a must that crypto to rival or replace fiat? Even in 10 years, I am sure fiat isn't replaceable, it is still needed forever. In my humble opinion, crypto is just another alternative to the world's currency. It is not created to replace fiat. Sometimes, I feel a bit strange why people want crypto to replace fiat, I thought it is impossible. So, better to forget that dream and just accept crypto to be an alternative currency.

Let not deceive ourselves here as to whether crypto currency will one day replace fait currency. No government of the world will in any way will do away with her faith currency and replace it with Bitcoin or crypto currency, I don't see happen even in the next decade to come.

It is better to working together side by side to help people and the country grow. People can use crypto for an alternative payment if people don't want to use fiat money to pay. As long as people can use the benefit of fiat and crypto, it will surely help them solve their finances. In the next 10 years, I hope that crypto can become global and most countries can accept crypto as the other payment system and coexist with fiat in the finances section.

Don't you think 10 years from now is too far and with little years from now the Fiat mode of transactions will be gone and the cryptocurrency market will dominate the transaction system making bitcoin to surge high because more investors will come to the cryptocurrency market to increase the market cap.

Yes. Fiat might slowly lost its value but that won't mean that decentralized crypto will replace the paper money. The government won't allow that to happen. There are high chances that they will create their own centralized digital currency so that it will still cater to the needs of the people. But in terms of investment, the government's digital currency will be no good at all so investors will surely find ways to access bitcoin and other crypto coins to buy and hold them for long term.

That is probably the next step, governments for example have wanted to eliminate cash as there is nothing more anonymous than the use of cash and they wanted to force people to use the banking system for everything so they could more easily track you, however while they hate the idea of a decentralized currency they cannot control they love the idea of a centralized currency that gives them almost total control of the economy, and I have no doubts they will try to implement this in the future.

Fiat and crypto should not compete but rather co exist in the payment system. It can give more advantage on part of the users and consumers since they are free to choose which one will be more convenient for them. But for now, i think the government is not considering it. They are even making strict restrictions on crypto seeing that it can be a big threat to fiat. And knowing crypto has been indirectly involved from different scamming activities, then it will surely create space between the government and crypto.

I don't think cryptocurrencies will ever completely eliminate Fiats. I think in about 10 years, cryptocurrencies will be used just like money. Simply put, both of these financial tools will find a place for each other on that market.

Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.

I highly doubt so.

Fiat was created in order to have a standardize unit of currency across the globe. With the value of fiat depending on the number of gold reserves, inflation, etc. of a country, it is recognized globally that there are currencies which hold a greater value compared to others. Bearing that in mind, what cryptocurrency lacks is the recognition and implementation widescale.

Remember that if crypto were to replace fiat, countries would have to implement technological application for its transactions. Of course, developed countries have no problem with this but underdeveloped and some third-world countries would be prejudiced by this. There are other priorities that such countries must focus (e.g. education, transportation, etc.) and shifting to a digitalized currency is like the least of their problem at the time being.

It was never about replacing Fiat. Banks are still too powerful even with crypto/Blockchain tech in play. We might as well focus on making crypto the best alternative financial system the world has even seen. As long as decentralization exists, nothing else matters.

Undoubtedly, both Fiat and crypto will survive for generations. It's up to you to decide which one to use depending on your needs. Not everyone will find crypto attractive because of its widely-unstable nature. Fiat may be stable but it's subject to the rules of a central bank and the government. I bet crypto will be much better 10 years from now as it evolves at a fast pace. Fiat will still be on the scene, but it'll no longer be used physically (paper money) to pay for goods and services. It will exist as a CBDC, challenging crypto in every way. I wouldn't worry about this, as long as people have the liberty to choose one type of currency from the other. Just my thoughts ;D

I don't think so dude, fiat currencies are one of foundations of every country. And i also don't want any government of the world will get control of any cryptocurrencies in the future.

even though those who say it is a financial professional can they guarantee that the analysis they do can happen and will happen?
I don't think so because it is clear that there are many aspects that will occur if digital assets will be used as an alternative to fiat currency.

we know that there are still many countries in the world that are still very dependent on the use of fiat currency. because it is clear that the cultural differences and the progress of a country in adopting technological progress are very different and many still use traditional methods and it is not easy to prevent let alone be forced to use. it still takes a long time to replace it and not for the next 5-10 years.

agree, that we must also respect local wisdom which is accustomed to conducting every transaction in the traditional way which always has to be seen in the form of fiat currency in every transaction. and they cannot be forced to accept technology transfer quickly, because all national characters are very different.

what is more important is of course what you have said, that no one should control and regulate crypto so that it is like it is today. all happen because of the mechanism that has been attached to him.

Quite ironic eh? Decentralized things shouldnt really be touched by government in the first place thats why it isnt surprising with these kind of decisions.I dont see any probability or chances that
fiat would be replaced with crypto.It could both exist but doesnt mean that there would chances of replacing one another.Government is always there and they wont let things to happen.
Its true that fiat currencies are one of the foundations of a country and its impossible for it to be replaced.

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

Crypto may be co exist with fiat but it won't certainly exist as a currency without fiat. So fiat will always stay and crypto might forever be an alternative currency to fiat. Yes, the government might eventually launch their own crypto in the future but that will be a centralized one so that it will still be in control with them.

However, bitcoin has already been considered as a legal tender in El Salvador but it does not mean that fiat has been eliminated. So same with this, crypto after 5-10 years might be accepted by the government because of some people's demand, but we should not expect that it will be the only currency as it will only be a reserved for fiat so that the government can still satisfy the people's growing demand for bitcoin or crypto.

I think the masses are slowy wakeing up to printed money infaltion as houses and cost of living decouple from wages - its a long time now sicne the 70's and people are finaly wiseing up across the spectrum.

- Boomers can't get a intrest rate return so are force in to shares or realestate
- Yonger gen locked out if apreciateing assets classes in any meaninfull way
- middle class are shrinking in number and findign thier jobs don't meet cost of living.

In the next few years at least 10 years bitcoin can coexist with fiat but it is true that fiat will not be lost to be replaced let alone with bitcoin of course fiat will become a common medium of exchange in any country that will never be replaced with its own currency from their respective countries.

In this plan in a country I have planned own cryptocurrency and it is still being tested to be centralized, so the government will still have control over this, but to coexist throughout history then I think it will be possible if the government has accepted bitcoin and side by side with the government's own cryptocurrency.

Same thing that happened in El Salvador may end up happening in other places of the world as well. I am not guessing USA will do it anytime soon, maybe not this decade, but some other smaller nations could do something like that. Which means that we are going to see things that are much better, crypto will be legal tender in many different places.

All it takes is one nation being good at it and that is El Salvador right now, if they keep being good then it is going to be definitely good for other nations as well and they will maybe test it out as well. This way we will have fiat AND crypto hand in hand together without a worry. It doesn't need to eliminate each other at all, going together is good enough.

So far there have been no fatal losses for people who really understand crypto unless they are people in a hurry to sell their assets and people who choose the wrong coin to invest. choose the right cryptocurrency and choose a good coin like bitcoin, ethereum and others, then you never experience a loss.

Indeed, crypto especially bitcoin will likely to replace fiat in 5 to 10 years. Most of the finance professsionals and analyst says the same thing that it will possibly happen in the future.
As of today, crypto currencies don't have a chance to stand against fiat because fiat is issued by the government and trusted by the citizens so it makes it more credible while bitcoin or crypto isn't regulated nor backed by the government.
Due to fiats scarcity and inflation, many people starts to believe in crypto because its more valuable than fiat or gold and given markets volatility, many still believe that crypto will surpass fiats in the near future.

That's right, no government would allow that their own currency will be replaced by a decentralized currency, what is government for if they cannot use their centralized power to govern the state. Crypto is created as an alternative to fiat, it's not created to replace fiat by any means because it will never happen.

Cryptocurrencies launched by a country will still not be able to replace fiat currencies as a whole because fiat currencies have been legal tender for a very long time. In addition if there is a direct transaction I think the use of fiat currency is much more efficient and effective.

Which expert says that bitcoin will be replacing fiat? I do not see any other person saying something like that and I do not get why we are saying something like that is even possible because I believe that it is not something that is possible. The reality is that crypto will be a fiat alternative and it is like that right now and it will stay like that forever as well. We do not really care about what the situation is like in the future because we are not going to have anything that will replace fiat.

Fiat is the power of the governments and nations which mean that it will not be gone and it will stay like that. It will not happen in the 5-10 years and it will not happen anytime in the future. Unless we have something super important that makes fiat completely gone then we are not going to have anything that will change the situation we are in at all, fiat will survive.

Bitcoin still have a long way to go if its to replace cash, although it might be possible in near future, major adoption of crypto where by lots of companies, countries will adopt digital assets and blockchain technology, El Salvador has made a bold move in accepting it as legal tender, I believe that if more than 70% of the whole countries in the world make the move that El Salvador made, it will be a good move for bitcoin replacing fiat

I think it's possible that the survey will become a reality if crypto is to rival or replace fiat in the next five to ten years. Because in the future there will be changes in the way global finance looks at new businesses with digital assets and how it shapes the financial infrastructure to create future economic growth. In fact, El Salvador made history, being the first country globally to make Bitcoin its official fiat currency. Therefore, it is possible that many other countries will follow in El Salvador's footsteps in the future.

Bitcoin could indeed come in par in terms of usability with fiat in due time, but to suppose that it could do so in as small a window as 10 years could be ambitious. Marketcap and all-time highs don't necessarily tell that an asset is suddenly becoming rampant across the world. there are certain parameters that you must meet along the way for something as big as what OP is saying to happen. Then again I'm positive that we'll get there at one point along this journey and once we do get there things will go hard for crypto. If we are to assume that technology will progress exponentially just like how it is going so far, I think it will at least be possible within our lifetimes, to make such massive claim without proper backing other than the fact that some countries are already doing it could only disappoint us when things go south in the future, so let's take into account everything, even the ones that may sound undesirable for us, to make us prepared for what's about to come. That's basically what I have to say about this. I love crypto as much as the next guy, but sometimes a little bit of realism doesn't hurt.

Well, i guess everyone of us here in the crypto community would to love to end up crypto replacing fiat in the next 10 years. But its more of a day dream. The reality is fiat cannot be dethrone by any cryptocurrency that is not centralized because the government will always protect fiat from all those decentralized currencies that will give threat to fiat. And if ever the government will adopt a crypto not literally to replace fiat but to be a reserved currency, it might be a centralized one wherein they can control it like fiat. I have sense that they will develop their own crypto rather than adopting a decentralized crypto.

maybe not only in 10 years, but even in our lifetime, we won't see crypto replacing fiat. the adoption may grow but replacing fiat is not happening in our generation. just be happy that the adoption is growing but aiming to replace fiat, is i believe too much. i dont know why people are trying to ask this question which for me the answer is very obvious. just because you are in crypto, you feel different with noncrypto users.

Crypto is used internally fiat is not easy to replace but there have already been in some countries where cryptocurrencies have replaced fiat. Especially in venezuela and other emerging countries among others bitcoin is already running alongside fiat as a recognized currency.

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice..  :D

You've said it yourself. Crypto will never replace Fiat simply because it's decentralized. Why would governments use something they can't control no matter what? They're better off using Fiat than crypto itself. It was never about replacing Fiat but rather being an alternative financial system anyone can use in times of need. I'd say crypto does its job pretty well, even if it often comes second after Fiat in world dominance. Decentralization is what ultimately matters in order to make crypto stand the test of time. It may have its downsides, but it's still "kicking" after all these years. With how things have been progressing lately, it looks like Fiat and crypto will co-exist for many generations. Just my thoughts ;D

Cryptocurrencies such as bitcoin are indeed impossible to be a legitimate currency because the price of bitcoin is very volatile and is decentralized. these two reasons are more than enough to prove that bitcoin cannot become a legal currency in the future. there is no other choice because the only option is each country has to create their own cryptocurrency.

Even waiting for another decade, we aren't able to see huge changes.
I have to stand and think that Bitcoin will remain optional because the majority of establishments had only accepted fiat money. And besides, it was not meant to rival fiat money but just an alternative. If we have to understand that, might have to admit that this gonna be impossible. In fact, people are considering crypto as an investment, not a currency.

I'd hope it is fully legalized as a currency but not I'm hoping that it will replace fiat.

Bitcoin is only good to co exist with fiat but never to replace it. Besides, the main goal of bitcoin is not to compete with fiat because they can be both useful if we can make them as payment methods, at least users will have multiple choices to select. Although its in the news that more big countries are now accepting bitcoin but it does not mean that fiat will not be used anymore. Of course, the government won't allow that. They may start accepting crypto but fiat will always be their main currency. And it will always be even 10 years from now or beyond.

What we need right now in the fiat world is a way to turn it into a bit more blockchain path as well. Not make it a stablecoin or CDBC or whatever it is called. Those are low end discussions that are not really at the core of the problem. Why do people move their money to crypto? I mean if it was only decentralization which is a huge deal for me and what I care about, then why do we own BNB? Owned by CZ? Or Tron? Owned by Justin Sun? Or any other coin that has "owners" basically, I can count at least 100 of them that are famous, let alone thousands that are small.

So, I would say that it is clear for me that it is not doing great, we need a lot more, we need something that is the true reason; fair grounds. It means in fiat world governments and rich people make the rules in an unfair way, and that way rich get richer and poor get poorer. We need a fiat that will be fair grounds, if it goes up then we are all richer, if it goes down then we are all poorer.

Crypto, no.
Bitcoin, in some places.

"Crypto" is more about applications networks and their tokens, they aren't money. Bitcoin is money though, and as we've seen in El Salvador it can be adopted at a state level.

I think by the early 2030s there will be multiple, maybe many, smaller countries who either are entirely on a Bitcoin standard or have fiat and Bitcoin side by side.

Worldwide, by that time, anyone even remotely paying attention to what's going on in tech, politics, or money will be at the very least using Bitcoin as their primary savings. In major nations that control their own currency I think you'll be able to spend Bitcoin some places but certainly not everywhere. But probably the major merchants like Amazon and Walmart will have Bitcoin lightning integration in all stores and online.

Fiat will definitely still exist at that point, but it will be less popular and I think saving in cash or using bonds as investments will mostly have been replaced with Bitcoin except for certain things like pensions that are legally required to hold bonds to keep the pension less volatile.

Basically I think there will maybe be a few hundred million people who spend with Bitcoin on a daily basis, and maybe a half billion to a billion people who use bitcoin as their primary savings, and another half billion or so newer people who still just view Bitcoin as an investment rather than their savings or spending money.

By 2040 though, I think using Bitcoin will be as widespread as using credit cards today and bitcoin will be considered the savings account for everyone, saving in fiat will pretty much be dead, but some governments will still demand you use fiat for official things like taxes.

Being that optimistic or believing too much on crypto isn't bad but you shouldn't really come into the point on where you do really believe that fiat could really be replaced with crypto which is totally impossible if you do ask me that's why we should be at least realistic in regards to this.

Never ever consider that it could happen because it would really just frustrate you out if you really hope for something like that to happen.You would really be waiting on something which
is unlikely to happen or simply impossible.

They could both exist though and serving out different markets and of course its good that it do really give out that different purpose.

No one can guarantee that digital currency will function as a substitute for fiat currency, but many people believe that digital currency is a solution as an alternative to offset fiat currency, both have different functions and ways of working, it's just that many people associate with fiat currency to compete, although both can grow simultaneously, then these alternatives can be used in their respective functions, for now there is no strong reference for us to believe it.

Cryptocurrencies can replace fiat currencies and will replace I believe. But I mean the ones that are going to be developed by governments. And they won't be volatile also I guess. Because governments are already against the volatile cryptocurrencies being the main currency of a country. I wouldn't expect them to do the same thing while they are opposing that kind of coins.

Crypto and fiat will coexist forever, they are similar but not the same, and behind this basic difference, crypto and fiat currencies have something in common namely that they are both acceptable because trust functions as a real and virtual medium of exchange or payment.
and both will complement each other and will not defeat or eliminate each other, but for me crypto especially bitcoin I prefer to keep it rather than spend it because spending it is tantamount to throwing away profits if there is an increase in the price of bitcoin, so if both are side by side it is better to use fiat to make purchases any.

There is no 'replace' argument valid in my mind not because of any specific criticism to crypto but because dollar itself was a peak debt dominance (and politics) to money that I doubt it gets repeated again immediately afterwards.   To have one currency across the entire world is not especially positive from what I see, every region has its own positives and negatives with specifics.
    To say we replace one for the other is to say once again a currency maybe with no local connection should be the most influential in that area which I dont think is often best for those people, not every country has to be using BTC directly every day for it to be a great success.   Crypto I hope will be an increasingly larger part of the picture but I doubt the influence we see with dollar is going to occur again, this past period has followed ww2 and we should hope for more competition and variation.  Some FIAT currencies may actually be backed by trade not debt, we can see all kinds of different currency standards pick up the failure and decline of dollar during its post QE wind down which seems an inevitable progression in the next few decades.

Agreed!

Its a bit off or quite irrelevant if we do talk about replacing fiat because this is something impossible to happen because we arent just tending
to have a main network and if that happen then majority of countries will be accumulating Bitcoin as much as they can since they do know that the more possession the move powerful it become.

I cant just picture out on how things should work out if it would becomes mainsteam and also decentralization isnt something
that government do prefer.

Most of that replacement will be done by digital assets that are issued by the government so if anything things will be even worse as governments will be able to freeze your funds unilaterally for whatever infraction they believe you have committed, however there is hope, bitcoin will still exist during the next decade and I think that by that time it will be way bigger and you will be able to use it in many more places than what you can do right now and as such we have nothing to worry about, however I do not believe bitcoin will replace fiat currencies as governments will never allow this to happen.

With the increasing community and active users of cryptocurrencies, I believe that in 10 years we will compete with fiat, banned from many countries cannot stop the performance of cryptocurrencies and I believe more and more countries are choosing to make peace with cryptocurrencies, namely legalizing like El Salvador.

Not in a lifetime. Crypto is not meant to replace Fiat, especially when it's decentralized and censorship-resistant. It's better off as an alternative than anything else. I seriously doubt governments are going to allow crypto to take over Fiat, when the latter is much easier to manipulate by them. That would mean giving away power to the people, which is something governments don't want to happen. Crypto is working well as an alternative to the current monetary system, so I'd expect it to last for a very long time. What matters above all else is decentralization. Only that way people can use crypto without worrying about governments' interference. As long as it stays decentralized, there should be nothing to worry about. Just my thoughts ;D

There is a lot chance for Crpto is accepted world wide in a decade but I don't think so that crypto will either dominate or replace fiat. Crypto will be seen as like an Asset or if so as Currency, It will remain utilized as an Asset or a currency. Those who wish to invest and multiple their amount, can yes will opt crypto.

Can sense a mass adaption and huge change due to crypto in the economy in 10 years I am sure.

Somewhat I disagree with your statement because in early stages of  transaction barter system was used but it has huge limitations. Then introduced systems like precious metals, gold backed currencies and now fiat currency. All these evolution has some flaws that's why we introduced new form of method. Limitations of fiat currency are,

  Controlled by central authority at every stages
  Risk of inflation
  Delays in money transfer etc.

Best solution for present currency system is crypto because it
   
   Works on decentralised system
    Validation through a network
    Highly secured
    Super fast transfer.

Crypto and present currencies could co-exist because it's a better and new payment system. If fiat currencies replaced by crypto currencies then it make big economic impact.But I am damn sure world leaders will prudently solve this.
It's a next step of evolution of currency that is future of money. As a futuristic digital form of currency soon to become main stream.

It would really be remaining as an option or just a selection which simply means  that there's a different market to that and i dont really believe that fiat could be replaced by something which is decentralized.

Even on my dreams im not really that anticipating for this thing to happen becauuse government itself wouldnt really be tending to allow
such thing to happen.

10 years might be a long time but for sure fiat would still be strong enough on taking control but with crypto existence
then at least we do have some choice.

Exactly, it is to be expected that governments get more tyrannical as time passes as the technology allows them better monitor and control their citizens, if bitcoin did not existed then governments will have a free path to do whatever they wanted and even with bitcoin around they will try to do so anyway, however for people like us that realize what is going on we are fortunate to have an option to at least reduce the effects those policies will have over us, and to me that is more than enough.

10 years or 20 years it doesnt matter or even lets say 50 years.It cant be possible for fiat to be replaced by any currency whether its digital or other things because government would indeed not let for those things to happen.Centralization would remain no matter what and we cant just have a world moving on a single system considering that there are lots of countries in the world which wont really be uniting as one.

Fiat would remain no matter what.Crypto might be adopted even more but it would really be just an option same as you said.

I think although how strong crypto is, wouldn't that easy to replace fiat. There are big thing behind it and they can do anything they want, that is what i know. Maybe fiat will be more digitalized, but to replaced with crypto, will need not only 5-10 years, maybe in future when crypto is adopted all over the world, goverments accept is as legal tenders and anything else that fiat have to be main currency.

In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.

Even we do say for 20 years then it wouldnt really happen because government wouldnt really let that thing to happen and it would exist no matter what.

Dont mind off  or think about the probability because it will really be an impossible thing to happen but it would be good if crypto would still exist on those years and been  a good option for other payment terms.

Centralization would remain and we cant really deny that it does really have that respective purpose which we do all need.

Governments will only become worse with the introduction of CBDCs. This will give them more power than usual over people's lives since it's much easier to manipulate a digital currency than a physical one. Imagine how invasive government surveillance will be, as every transaction gets monitored on the ledger. Crypto will be the only alternative for those looking to protect their privacy at all costs. While it may never replace Fiat, it'll always be there for those who need it the most. Set yourself forward 10 years from now, and everything else will remain the same. What matters is that crypto remains decentralized so that it can stand the test of time. As long as it stays that way, we should have nothing to worry about. Just my opinion :)

I never expected that crypto would kill fiat, the two are different but complementary things, is it possible to buy a pack of cigarettes by paying with crypto if there is fiat which is faster and easier? I'm worried that when the transaction with crypto and our initial balance is enough then the price drops then we can't pay, and this is the function of fiat which is more stable than bitcoin.

it can happen if the buyer and seller are both lovers of bitcoin, but of course this will not apply in general because not everyone is willing to accept bitcoin. this can be likened to bartering because bitcoin is not a legal tender, a few months ago I exchanged some bitcoins that I had for a used jacket belonging to a friend of mine. as I said before this kind of thing can happen because the seller and the buyer are the same as the bitcoin lover.

Rivalry is happening years passed and still on it , but replacing is the thing we cannot commit , because admit it or not you cannot even let crypto replacing fiat .
so best to let both exist but of course we are seeking for the continues progress of crypto over fiat so in future we will be more dependent in crypto using that fiat using,

I think fiat will survive, why should we force everyone to use crypto and leave fiat? both are different things and should always be there, we can't 100% use crypto, for example to buy a snack for $ 5 of course fiat is faster because transactions are direct, I'm worried when I want to pay the internet is not available or the network is busy so I have to pay transaction fees over $50 as it did on ethereum.

I think of different things. I think this is not a rival, but a new technology that will be an alternative, not a rival. we know that the government will not allow a decentralized system to change everything in the economic system. So, I think crypto will be a payment alternative.
this relates to replacing the Fiat. I think, crypto will never replace fiat. even I think that the government also will not allow the highly fluctuating medium of exchange to become the main medium of exchange of a country.

The demands of future needs are increasingly complex and crypto is the right answer, too many rules and controlled by the central bank make us not free to control our own money and the presence of crypto will make the function of fiat will decrease and eventually disappear, but it will take at least 15 years from now.

I don't know how complicated the future needs will be and why crypto is needed to deal with this problem, most of the functions that crypto has, in fact there are products with similar functions and technology won't stop forever, so for more complex problems, there will be more solutions. In addition, banking functions will be more strict with our money, this is a long known story, so people's current situation is more geared towards investing in more stable assets, reduce storage in banks, crypto should be worried about competing with other investments, greedy function of fiat just wastes resources and expectations

Its hard to believe on the timeline given since in tbe first place for surethere will been interruption that  will happen that's why I'm sure eventhiougb crypto will strong in that timeli for sure fiat will still there since government will still support it knowing that crypto volatility is so high and many will just think that this is great alternative after fiat.

I prefer crypto to be a rival to replace fiat, many things can't be done or can replace the function of fiat, even though fiat is fully controlled by the central bank but this makes the value of fiat more stable than crypto which is turbulent and difficult to predict.

Of course, if the State legalizes bitcoin or crypto as a medium of exchange, it automatically makes its citizens choose to transact with cryptocurrencies as implemented by the country of El Salvador which has legalized bitcoin as a legal tender. Even El Salvador continues to buy bitcoins for the development of developed cities in their country. El Salvador has also reinvested unrealized profits into various infrastructure development projects.

there may be countries that will follow the path of el salvador, but the majority of governments, i don't think they will. they will stick to their own fiat. but they may allow the co-existence of crypto, which is already happening anyway. but still the main currency will be their fiat, as they have full control of its existence. so for most countries, fiat will still be their main currency in the next 10 years. but we can't deny the fact, that maybe there will be few countries that will make btc their legal tender like el salvador.

There is no doubt that bitcoin will challenge the fiat currency in the future because bitcoin is a digital currency that's fast, secure, and decentralized. If you look at the other hand you may see that fiat currency is a paper currency that is slow in terms of making transactions, centralized controlled by the banks, yet has more expensive transaction fees. Bitcoin is by far a more reliable option compared to a fiat currency because it works day and night, it has no closing hours or weekends like banks.

Bitcoin may have certain benefits over Fiat, but it's still far from replacing it. That's because governments don't want to give away their power over to the people. After all, governments can't control Bitcoin. Something they can't control or manipulate, will be considered as a threat to banks' very existence. The rise of crypto/Blockchain tech's popularity has led banks to create digital currencies of their own. It shouldn't be long enough before banks embrace Blockchain technology at its fullest, eventually solidifying their position in the global economy.

What matters is that crypto remains decentralized so people can have an exit route from the banking system. As long as people are able to achieve financial freedom with crypto, nothing else matters. Just my thoughts ;D

I think fiat and crypto will never compete because they have very different functions and roles, crypto can't replace fiat and fiat can't replace crypto. Fiat is used as a means of payment because it has a stable value, while crypto is used by many people as a means of investment because the value of crypto can grow very quickly.

Well I see that there are country that already adapting Bitcoin and maybe there's alot more in the next generation, so I believe that soon crypto will maybe replace fiat but 10 years is a very short tome, I think it will happen 40 to 50 years considering the fact that not all countries are adapting crypto so maybe it will take more than 10 years before this happen.

I'm not sure that in 10 years crypto can replace fiat money because not all transactions can be used crypto. transactions that can replace crypto are only at the upper level, while the lower level does not necessarily have access to crypto.

the future is a mystery that really will not be known but I believe when mass adoption of crypto occurs then people will use crypto and forget fiat. Many people will not like fiat money more and prefer to transact with crypto which is very fast, safe, easy, and efficient.

You have to understand that it is a very short term, which requires parameterizing and creating the conditions for this to be fulfilled, so speculating with the price of an asset is something in a certain way of "free words," changing economies is not something to be taken lightly with a survey.

In fact, crypto assets have a large number of characteristics that make them innovative and accessible to new ways of managing funds, it is a radical change, not only as a technology, but also how common people access these assets, among many other advantages, But today we see weaknesses in different cryptocurrencies that must be improved, then the assertion that in 10 years the cryptocurrencies will replace the Fiat currency may not be so successful or that it should happen so quickly.

No one could predict the future but speaking on forgetting about fiat is something not possible to happen no matter how hard ive been thinking off.

Lets say that crypto would make out some significant noise and popularity and adoption but that wont really be enough on completely stopping or

eradicating fiat on existence.Why? As long government exist then it is something an impossible thing to happen.

I also believe that a period of 10 years is definitely too short. It is possible that within 10 years we will stop using cash and mainly use electronic money. However, replacing money for cryptocurrency will take much longer. It is even possible that it will never fully happen and there will be fiats and cryptocurrencies existing on the market together.

Fiat is irreplaceable, each country has its sovereignty, each country has its history and policy, so to say that bitcoin will replace fiat I think it is a big exaggeration, in fact it is unrealistic, bitcoin will coexist with fiat side by side. countries will always continue to use fiat.


even if it were 50 years from now the fiat will be the dominant currency of each country

This is the fact, countries won't let the sovereignty get away. Countries will always try to have control over it. As mentioned cryptocurrency will always coexist with the traditional currency. We can see this happening now with some of the banking and other financial services. Another thing, maybe small countries can adopt cryptocurrency and consider it as legal tender same as El Salvador have done in recent days.

I think that the foundation of fiat governed by the government is not that easy to replace. If by chance, the economy might be at stake. Imagine how would a country fund itself if all of the people use decentralized currency. Taxes and fees may be a bit off but still we do know that some have a cause. We just see it as a bad thing most of the time.
I know both fiat and crypto are very in contradicting to each other. But coexisting makes it beneficial.
I would say crypto is an alternative but not a replacement.

I think crypto will replace fiat in the coming years. Whether it will be in 10 or 100 years I cannot really tell. What I can say is, is that the current system of printing money endlessly does not work and is completely corrupt. It is not trustless or without third parties. Crypto is deflationary and does not require trust in the first place. Its just a better money system. But i doubt the corrupt bankers like that.

As much as I'd like crypto to replace Fiat, I don't think it'll materialize anytime soon. Banks and governments won't give up Fiat just because the system is collapsing. They will continue to print more money for their own benefit. Why would they switch to crypto if they can't control it? It's this reason why banks are planning to launch CBDCs. They want to "cripple" decentralized cryptocurrencies with a digitized version of Fiat that's stable in price but with "all of the benefits" of crypto. People will be fooled into thinking CBDCs are decentralized, when they'll be much worse than paper money.

10 years is a lot of time in the crypto/Blockchain space, so it's likely Blockchain tech will be much better than what it is right now. Everything else will remain the same as Fiat won't be going anywhere. I'm fine with that as long as crypto remains decentralized. Just my thoughts ;D

Exactly. No one said crypto was meant to replace the existing banking system in the first place. Since cryptocurrencies are decentralized, I'd be hard to imagine governments giving up their control over Fiat anytime soon. Something they can't manipulate or control would be considered as a threat to the very existence of central banks and governments alike. With the introduction of CBDCs, it seems that Fiat will be here to stay for a long time.

People should learn to live with both decentralized cryptocurrencies and Fiat, instead of thinking which will replace the other. Everything will look almost the same as it is right now within the next 10 years. The only difference is that crypto will be much bigger and stronger in the future. Who knows if we're close to a cashless society than we've ever thought? Just my opinion :)

Unless a country does not have its own currency like El Salvador, then bitcoin can replace it.

For any country that has its own currency and has also long adopted a centralized financial system then bitcoin or a decentralized financial system is only suitable as an alternative. Some of these countries will not easily legalize or adopt it because it is against existing regulations, but some countries can also adopt it and may have done so in some trading centers.

All financial systems are centralized, all of them. In any case, it is not about substituting or even making it a legal currency in more countries, it is allowing "formally" you have access to bitcoin as any currency or currency of any country.

But  if it happens with the dollar , the euros even if it is not allowed to make local transactions in a different currency, the dollar is always there, it does not replace your local currency "formally" but it does so shamelessly in the background and it happens globally.

So 10 years?: The bitcoin already does, replace, better than the dollar any local currency, that is happening... not formally but it happens.

I love to agree with this but also I hate to believe because this will only bring frustration for me, I love Bitcoin and i will support this as long as i live, but i don't want to completely lose my trust in fiat because we knew its existence that will be there for all our life.
what i wanna believe is that in time? both Bitcoin and fiat will join force to serve all the people in the world.
yes there will be advantage about digital assets but we also knew the disadvantage things that fiat will provide.

People doesn't want others to control their lives, same is with the financial activities. This has made people move along with bitcoin. Bitcoin along with blockchain isn't an unproven technology, it has grown as a fully fledged financial system. People are worried about the monetary policies as well as the fiat currencies losing its value.

Replacing fiat might happen here and there as we have with El Salvador, but governments around won't easily allow it. At the beginning cryptocurrency need to get integrated with banking services through which complete replacing could happen in the long run.

I would very much like the financial market in the world to be regulated through decentralization. However, I am sure the banks will never allow it. Even governments, anticipating that the power of cryptocurrencies will grow, have already started creating their own cryptocurrencies. I think that in 5-10 years, cryptocurrencies will be more popular, but in fact, they will never replace fiat money.

Never allow ?   Even in USSR people still used dollars to trade despite it being totally outlawed, why because it was the most efficient way to trade.   The free market is substantially more powerful then governments even military based dictatorships.  
   I would still think it will take more then 5 years before the majority or even a large amount of trade is carried out via alternative digital assets.  I think generally the path of least resistance is what will occur, most people are poor and hold onto their money only for a few days a week before some other entity has it.    If we all had 1 years worth of wages to take care of (in cash) we'd not be using the junk standard that is FIAT currently but most are transitionary in their use of currency & so to digital must be efficient in that type of immediate use economy in order to take over.

Everythinig takes time for adoption and it is very much clear that it iwll not be easy to completely elinimate the fiat and adopt bitcoin. It will happen but at a slow pace in the start. Governments need to find out how they can control the bitcoin and how they can tax them. If they are unable to find solution for these, they will never allow crypto to become mainstream.
However we do see adoption by few countires and i hope this trend will contiune. I have big hopes that by 2030, almost half of the world governemts will accept bitcoin.

People here tend to believe that in robotic world when machinery and computer will make the world move and even labor are with robotics , bitcoin will be the monetary and fiat will finally gone  ;D ;D ;D

Yes this may come but surely , not in our generation or even in the next to us, meaning this will never be in our world.
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Bitcoin will never replace Fiat , that is what i believe and will always be.

Exactly. Governments and mainstream banks will never allow decentralized cryptocurrencies to take over the global economy. Their intentions of releasing Central Bank Digital Currencies tells us that they want to stay in power no matter what. Set yourself forward 10 years from now and everything will look likely the same as it is right now. The only difference would be that crypto will be more popular than ever, with greater features and improved network capacity.

Instead of focusing on replacing Fiat, we should focus on making crypto land a better place. All that matters is decentralization and censorship-resistance. As long as this is achieved, people will be able to truly enjoy financial freedom. Just my thoughts ;D

I think it is very unlikely that cryptocurrency will replace currency in the future. Although it is actually possible to happen to make it happen, it takes a long time. There are many challenges for a country that replaces cryptocurrency as the currency of the future.

Not unlikely but rather it would be impossible to happen because government would let it to happen on the first place and even if El Salvador had already done such pace but doesnt mean that every

country would definitely do the same thats why this would really be a never ending kind of debate on which lets just deal on what we are currently dealing with.
Its not really that needed to ignore but we shouldnt really be that optimistic on things that is nearly impossible to happen.

The possibility remains, as long as the development of cryptocurrencies can take over fiat currency, but we must also understand that fiat currency is not a new product in the country's challenges, meaning that it will be difficult to replace, many laws and rules must be changed if fiat currency is eliminated, the world currency regulators will also not remain silent on this big issue, I think it is difficult to change something that is standard in the next 10 years, I think this is still very speculative, even though in fact we see a support base of almost 90% agree.

If not dollar what medium are they going to use? It can make their life more complicated but they prefer to stick on using dollar and disregard its restriction just to continue their business. Free markets would not call for this name if without a reason but they call it free market because people can do whatever they want and they cant be controlled by the governments and other forces.

5 years is a long wait and during that time frame, a lot of changes or happening are already expected but for now it is to early for cryptos to take over as lots or people still do not know how it works. They can take their time and continue using fiat no need to hurry.

In my opinion, it is impossible for fiat to be replaced by crypto, especially if we talk about fiat, it has been used by humans for a very long time.
So it's not that easy to replace fiat, after all, it's easier for the government to control people's finances with fiat. Then there is no reason
the government would allow crypto to replace fiat. Moreover, 10 years in my opinion is too short to be able to make crypto used by all people
in the world. Because we know the majority of people in the world still use fiat for their daily transactions. If crypto is really going to replace fiat,
maybe many countries should have legalized crypto as a payment first. But the reality is that most countries still refuse to use crypto as
an alternative payment.

We already proved that BTCitcoin is the most powerful tool against censorship and resistance from the government. If a government targets you by freezing the funds you move to BTCitcoin and there is nothing they can do if you are using non custodial wallets. Financial freedom can be achieved if it is used for global trade, if you are able to trade on a global scale without borders then you achieve financial freedom.

Bitcoin may seems impossible to repalce fiat at this moment but in future this is very much possible. Bitcoin adoption is going fast and by 10 years it is very much possible that bitcoin will replace the fiat.
When everyone will start using bitcoin, the fiat currecnies will fade away automatically.

Some cryptos are continuously being developed day after day. They are already stronger, better and faster but why none of them replace fiat up until now? Will that means that fiat is too strong even if fiat looks very basic in our eyes? Fiat is not new but what about cryptos? BTC is not new anymore but then again it cannot do a major threat to fiat.

If there's btc and other cryptos can do, that's only they are being used as a fiat alternative. Nothing more nothing less. The people that says crypto will replace fiats are professionals in the financial field but the question is can they make a law or can they make a change about the financing system? No. They are not that powerful enough.

if we look at the current conditions, that is most likely what will happen, crypto will replace fiat in 10 years ahead or more. paper money is really not environmentally friendly, besides that cryptocurrencies are very controlled and can be monitored, there is no reason to reject crypto in the future. paper money will become antiques :D

I'm not sure the creation of bitcoin that satoshi did to compete and replace fiat, I'm pretty sure that's not the goal. Even in the next 10 years bitcoin will not be a competitor to fiat nor will it replace it regardless of how well adoption increases.

Bitcoin is a good payment network compared to fiat but cannot completely replace fiat as the government will not legalize it as a legal currency or tender. Bitcoin is a decentralized currency that allows users to get privacy and is the best alternative for those who like good financial privacy.

Exactly. Bitcoin is all we need to achieve financial freedom. It doesn't need to replace Fiat to achieve its purpose. I'm fine with Bitcoin and other cryptocurrencies being an alternative to the current banking system as long as they work as intended. A lot of things can happen in a decade as the world moves at a very fast pace. In crypto land, 10 years is like a century, so I'm guessing the whole space will be much bigger and stronger than what it is right now. Perhaps, Bitcoin and Ethereum will solve their scalability issues, reaching millions (if not billions) of users worldwide.

As long as decentralization is prioritized, crypto will be able to live alongside Fiat for generations. Just my opinion :)

Have these people imagine on a world which is only been having only Bitcoin as a main digital currency? I couldnt even think the probability or chances that fiat could be replaced or would totally

on which people do really being that unrealistic on things that they do have in mind without even thinking that if it could be that possible? Government wouldnt let that thing to happen.
Also, we do need governing bodies which do make out things in organized and arranged manner because decentralization isnt everything.

digital currency is fiat which is digitized....based on the data i read, in developed countries the majority of people have done transactions with digital currency through digital wallets available in their respective countries, in the future, paper money will definitely be eliminated.  cryptocurrencies and digital currencies will certainly circulate together, but government regulations for both surely very strict.

You've said it yourself. Governments will NEVER allow a decentralized cryptocurrency to take over the existing financial system. That's because a crypto-only economy will empower people to have financial freedom (something that would take down governments' autonomy/sovereignty over people's finances). As long as central banks exist, Fiat won't be going anywhere. On the contrary, Fiat currencies will adapt themselves until they're in-par with decentralized cryptocurrencies. We should just "turn the page" and focus on making crypto the best kind of money the world has ever seen. As long as crypto remains a strong alternative to existing Fiat, nothing else matters. Who knows if crypto and Fiat live alongside each other for generations? Just my thoughts ;D

People does really love on going into things which it isnt really possible to happen considering that government do exist and wont allow decentralized things would take over.Come to think that what
if we do really come into that point? Is everything would really be in order if there were no government that do handle out some sectors which is something that needs someone who do lead out?
Decentralization is good but its not everything, we do still need government and fiat of course yet it does have specific function.

I think one aspect that causes most countries not to legalize cryptocurrencies is its fluctuating prices and not being sure of a decentralized cryptocurrency system that is considered to be a threat to their current monetary system. Many countries that until now do not have clear provisions to legalize bitcoin. They are still waiting for the development of bitcoin in the long term to legalize bitcoin-like el Salvador.

Exactly. The risk of adopting Bitcoin as legal tender is simply too high to bear. It'll be impossible to keep up with the constant fluctuations in price in order to use Bitcoin the same way as cash. For this and many other reasons, I don't think crypto will replace Fiat 10 years from now. With decentralization, people can truly enjoy financial freedom. While crypto may never replace Fiat, it could certainly become a "force to reckon with". 10 years is a lot of time in the crypto/Blockchain space, so I'd expect a lot of achievements by then. Just my thoughts ;D

Would be totally impossible for it to happen because there are things which crypto couldnt able to provide or do on what fiat does all over the ages of its existence and we could not deny it that we do still need fiat.

Crypto would really be remaining as an option.It might be flying out with colors in the future but not something that could beat up or erase fiat into its existence.Government does exist and do we really believe that

they would really let these things to happen?  For sure they wont because centralization would be always be preferred but as citizens we do have at least some option.

Bitcoin to be the legal tender has happened with El Salvador. Out of enthusiasm and to give a positive news on adoption El Salvador did a great work. After that more countries have started to legalise and regulate the usage of cryptocurrencies. This keeps the market demand for cryptocurrency growing, but never intend to replace fiat currency. What we see is the very beginning of adoption, and the volatility need to be overcome. This isn't possible all the time.

Crypto users continue to increase and it seems that many countries are giving up and choosing to legalize crypto, in Africa the growth in the number of users and marketcap is more than 2500% in 2021 which makes us more optimistic that in 10 years fiat dominance will soon be replaced with crypto.

You've said it yourself. As long as governments exist, Fiat won't be going anywhere. Crypto is great, but it'll only remain as an alternative than a replacement to existing Fiat due to very obvious reasons. Governments aren't willing to surrender their sovereignty over the monetary system in exchange for decentralized cryptocurrencies they can't control or manipulate to their own will. El Salvador did adopt Bitcoin as legal tender, but it still hasn't eliminated the use of Fiat (US Dollar) completely.

In 10 years from now, I think everything else will look the same except for the fact that crypto will be much more robust than ever before. If it keeps progressing, then it will be able to live alongside Fiat for generations. Just my thoughts ;D

Banks you mean, not government because it was the banks that issued fiats but if there will be no banks, the government will have no choice but to use cryptos as a primary currency. I think it's not about the control but it's about the complications if there will be no fiats but there's only cryptos.

Even myself I can't imagine the world will be after that. El Salvador only adopted bitcoin as legal tender but is it written in the law that once the country made cryptos a legal tender, fiats are now be eliminated? I guess no because el salvador still have their fiat. In the next 10 years, maybe we have lots of countries that made cryptos as a legal tender. That's still nice.

As long as banks exist, Fiat won't be going anywhere. It's unlikely governments will ditch Fiat in favor of something they can't control whatsoever. Centralization will always be with us, no matter how much we hate it. I'm fine with that as long as people have a choice from one type of currency from the other. In the future, both crypto and Fiat will co-exist as mediums of exchange anyone can use depending on their needs.

Within just 10 years from now, a lot of improvements will happen in the crypto/Blockchain space. I'm pretty sure crypto will be much faster and cheaper to use than ever before. Ultimately, it's all about decentralization. As long as decentralization is preserved, crypto will last a lifetime. Just my opinion :)

Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.

We are not adopting crypto or investing in crypto to make profits. There are many other benefits of crypto over fiat currency. When crypto will be adopted more, then there will be no or very less volatility. 
Secondly, there will be no more comparison and conversations of fiat and crypto and this will change the overall adoption process. Bitcoin and crypto will mainly be use as  medium of exchange as well as the store of value.

For utility then there's no doubt that crypto does really get high support with that but we could not deny the fact that most people who do get involved with crypto are the ones who's minding
about making profits and lets just accept to that because you could get both profitability and utility at the same time depending on how you would gonna use it.
I dont see for fiat to be replaced anytime soon even how crypto would be widely adopted.It would really be just remaining as an option which is something not that surprising.

Cryptocurrency is not old enough to take over fiat currency because people who have stayed above hundred years used fiat and still fiat is still topping the currency, when you keep fiat and Bitcoin or cryptocurrency in open debate you will know that bitcoin will have small scale of vote because everything about cryptocurrency the end product is fiat, and cryptocurrency have not gain a lot support in society and it is why people don't have to support to cryptocurrency

Well yeah we have heard something like this back in 2012 i guess  ;D .. yet 10 years later now we are going nowhere but using fiat still , that's true it might takes hundred of years to fully shifting fiat into crypto.
Not an easy one .. it's not a work of overnight thing.

There must be a huge move by a huge institutional such as a world bank or something similar that has a huge influence in monetary.