Bitcoin Forum

Giant banks may face their biggest fear

Swiss Credit Suisse has been facing financial difficulty lately. There are some rumours about the corruption of the oldest and most prestigious bank in the world. Bankruptcy will trigger a new financial disaster in the world. The crisis-related atmosphere that has surrounded Credit Suisse in recent weeks seems to have subsided. Still, the strategic issues that sparked rumours of a near-death experience and a decline in the company’s share price continue.

Credit Suisse’s problems may be its own, but a recession in Europe – which at this point appears to be all but inevitable – would have effects well beyond the continent. Commentators continue to debate whether or not the U.S. can avoid the same destiny, but even if it does, recession worries often drive down bank stocks and many other assets.

Is this a chance for cryptocurrency to replace other currencies?

The economy is inflationary, at risk of a downturn. As a result, cash and traditional currencies constantly lost their value. Therefore, in Europe, their citizens decide to invest in cryptocurrency as their solution because everyone can make money by investing and trading crypto. According to FMCPAY Exchange, the number of new registers from Spanish has been increasing since last week. There are thousands of people from Spain submitting their KYC information everyday on this platform.

Choosing the best cryptocurrency exchange platform

Prepare for the next step of currency evolution, cryptocurrencies gradually have their own place in the economy. Now it’s your turn to join the crypto world.

One of the most trusted, safest cryptocurrency exchanges and also the most suitable platform for newbies in this new evolution economy is FMCPAY Exchange. FMCPAY is the world’s most trusted platform for trading cryptocurrency, and digital securities registered in the USA. Market cap & rank, prices, exchange volumes, and currency conversion! Track your holdings with our new portfolio and make detailed comparisons – plus stay updated with crypto news.

Looking at the current crypto ecosystem and the exchanges that abound, FMCPAY comes with a different promise in terms of its transaction fee billing which is pegged at 0.04%. This fee can even be lower depending on the user’s VIP level. The FMCPAY Exchange offers a full suite of services bordering on Margin, Spot, wallet and affiliate services among others.

About FMC token

FMCPAY Token runs on the TRON platform, issued in limited quantities, for the purpose of promoting trading activities on the FMCPAY platform.

With a total issuance of 128B, FMC – owned by FMCPAY – makes it easier than ever to run a high-performance payment business. You can use FMC in a variety of exchange activities: transaction fees, exchange fees and other services in the financial ecosystem of FMCPAY. FMC uses new sharding technology that allows applications to scale while enhancing interoperability.

As a part of FMC holder, you will be able to experience many advantages:

Superior Customer Experience

By investing in FMC, investors can experience the best-in-market payments.

Modern Infrastructure

Leverage cutting-edge blockchain technology to streamline payment services and reduce costs.

Unique Liquidity Solutions

Eliminate pre-funding and free working capital with On-Demand Liquidity.

Simplified Network Partnering

Easily expand your network by transacting and connecting with premier receivers in key markets.

Conclusion

Giant banks maybe still survive after the crisis this time. But we cannot negate the fact that cryptocurrency is a remarkable factor in the economy. The number of people starting to trade and invest in crypto is rising day by day. And this is the perfect time for you to join the crypto race with other investors.

Undoubtedly, the position of the cryptocurrency is strengthening over time, the demand for it is growing. Cryptocurrency has a number of advantages over the national currency of states, but also has a number of disadvantages. If we compare cryptocurrency and fiat, and also talk about their prospects, first of all, it should be taken into account that the currency of states is protected by the power of the state and its authorities and administrations. This currency can disappear or change only if there is a corresponding decision of the state itself. States can allow the circulation of cryptocurrency and create certain conditions for this, but they will not actively support its development. Therefore, cryptocurrency cannot displace or destroy fiat. You shouldn't even hope for it. It will be optimal if the cryptocurrency will exist along with the fiat and they will complement each other with their different functions.

Im thinking about how smart you are by inserting FMC that doesn't even related with the topic. There's no urgency to replace currency other than crypto that exist in the market. That's actually BS. people are still need fiat money no matter how hard they were blaming it but they will always need it for their daily life. Talking about crypto to replace a other currency and what currency is it? It doesn't even suitable with the reality when market is still being dominated by fiat money.
The tech is slowly forcing people move from doing a transaction manually to be automatically but it must be noted if this is only applicable in the country that has a good infrastructure to support it.

I guess this is one of their way to introduce their business. It's smart indeed, including it to the topic that can have a good number of viewers and engagers. It's good for marketing but are there any forum rule in line with this?
Regardless, I've heard that some banks are planning to adapt cryptocurrency... what are your thoughts about it ?

Will this happen in this same system where when there is a little dip in the crypto market, most people will be shouting Bitcoin is Dead and there is panic everywhere? the truth is that even most people are not even ready for that to happen, A Crypto takeover of Fiat currency even if we see people posting it here. For now, I am still trying to understand how the Governments will give up their own currency for Crypto as the main currency but I however believe they can coexist without one replacing the other.

A few years ago I read about predictions of a recession at the beginning of this decade, and my thought was that this time, the crisis will cause such a devaluation of fiat that fiat model will be abandoned and cryptos will replace it because between volatility and hyperinflation people would choose the former. Later, I figured that it was a very naive thought. The recession is here, it will get worse, and fiat is indeed suffering, even the world's most respected currencies. However, I still think society is far from ready to abandon fiat as a model. People will forgive it, even if they lose tons of their savings' value because they were saving in fiat or because the salaries won't keep up with inflation. Cryptos can become more prominent as a potential investment, but fiat will remain the standard model for currencies in terms of being used as money.
As for the exchange, it doesn't seem to have a good reputation and blatantly marketing it as 'world's most trusted' is just asking for people to get angry, IMO.

Certain cryptocurrencies have other scenarios that could be self-inflation, some even being schemes set up for it. So the answer is no, the advantages and disadvantages of each are mutually exclusive solutions to each other.
In addition, there is a group of centralized institutional fanaticism that you are not aware of, they only believe in the currency issued by the government.

I don't think that cryptocurrency will replace other currencies if you mean about crypto replacing fiat. Governments must have control of a digital asset so that they can earn profit from it and in cryptocurrency, government doesn't have any control of it though it doesn't mean they can't adapt cryptocurrency like creating an exchange or wallet where they earn from exchange fee when you are selling your crypto. Governments might create their own cryptocurrency but a centralized one where they have control over it just like.

No matter the success of cryptocurrency, The most likely to replace fiat will be CBDC's that are controlled by the government and we can see that most governments are already creating their own issued CBDC. Cryptocurrency may become accepted by the government but they will not be willing to leave the financial system completely unregulated without their control.

That was too much to expect. That won't happen even if we count for centuries. Digital banking will replace the traditional banking method but the same fiat currencies will still be used. Technology is evolving and it will bring the banking system to a higher level.

I'm a pro-crypto but cryptocurrency can co-exist and work with the usual currencies.

I don't see why replacing should happen.

How possible is it for a government-owned currency to be replaced with a digital currency that government has no control over? Is just like removing a ruling King and replacing him with a commoner to rule over him. In this case, it's unimaginable to think of.

Since I love and want crypto to spread across the globe I can't imagine using it more often than my country's currency. The world is advancing in digital currency but that doesn't mean, fiat will go out of use in the country.

 

Yes, why do we feel the need to change? We should try to use it together. Then many things we want will come true. Crypto will find its true value after a while. It will take its place among other currencies. They do not need to be changed. Because I don't think other currencies will be wiped out of the market. Crypto must first exist firmly. So what I want to say from this sentence is that the world has to accept it. I think this will happen. Then we will say the name of crypto along with the currencies.

Nope.

We're still far from that situation for which cryptos going to replace the casual currency that we have. The governments have no power and authority to cryptocurrencies.

The giant banks will always survive no matter what the situation is and that is because the government is on their back patting their shoulders.

Any cryptocurrency including Bitcoin wouldn't replace other currency e.g. fiat because everyone are scared with high volatility and the price isn't stable. Even though El Salvador and Central African Republic already accept Bitcoin as legal tender, but it's still not replace Bitcoin and it's used as an alternative payment only. Maybe on the next generation where all countries already transparent and using full of technology, Bitcoin could be used for the primarily currency.

There is no completely replacement for other currencies. Cryptocurrency is one of things that is used by human society, from fiat currencies, precious metals like Gold, silver and other means to exchange value.

They are parts of way people use daily to buy or sell things, to exchange between one and another, to trade, to invest. If anyone says cryptocurrency will replace fiat currency, that is not true.

You can see an example between paper book and e-book, they are co-exist as in the society, there are different people who would like to read paper book and others would prefer to read e-book. There are people who are ready to use both types of books for their convenience.

Alternate to something is not a bad thing neither, I mean we could always have something that is both used at the same time. I love the example of books and e-books, that is definitely something we could compare with crypto and fiat as well, they are both used and they are both working at the same time.

I believe that it is going to be a good deal in the long run, doesn't mean that it’s going to be a trouble but it could definitely be a good thing in the long run. I am not saying that fiat will not be disrupted in the future, by the obvious examples of how we are doing worse, there is a good chance that it could go down but it wouldn't be because of bitcoin for sure.

Banks are afraid of crypto?
Banks want to eliminate crypto?
Banks are evil and crypto is good?

We should debunk this idea about banks as never they have an impression like that in bitcoin or in cryptocurrencies.

Why should we just only taste the benefits of crypto if they can work at the same time with the usual currencies?

The banking system is even considering the integration of a blockchain network.

Forget about banks being scared of cryptocurrencies. They have no reason to be scared of it or being replaced by it, they'll just go to continue serving the public with all the services that they have.
And with the thread you've made, I'm now feeling that the topic isn't really all about the banks and crypto but about the project that you're working on which is the fmc token.

I doubt crypto currencies would replace any other currencies anytime soon. Maybe after few decades, but not yet. Crypto currencies are still in their early stage and needs a lot of improvement before they can actually be used as a regular currencies. None of the coins out there is perfect enough to be used as a currency for making day to day transactions. Right now people prefer holding the coins because of the potential profit they can gain in the future. And do we really want crypto currencies to replace fiat currency? What's wrong with using both?

Looks like you are trying to promote a token. Make a proper announcement thread or people will think you are shilling/promoting for a shitcoin.

I think that it is unlikely that cryptocurrencies will replace other currencies now or in the future. On the other hand, cryptocurrencies and other currencies will complement each other and will not interfere with each other, because each has its own users and uses. So for those who say that cryptocurrencies will replace other currencies, especially fiat, stop thinking that way because it won't happen.

Those which believe that have a view of the word which is too idealistic, governments and banks are simply too powerful and they are never going to allow for this to happen.

The best we can expect is the scenario we are seeing playing out right now, in which this market is slowly making progress and people all over the word are adopting cryptocurrencies but without leaving fiat behind, in the end as long as I can use my coins as freely as I can while maintaining some level of privacy then that is good enough for me.

It probably won’t because the other currencies are issued by the central banks and people pay their taxes using these currencies. Because of their centralized nature, national currencies are fast to transact and can handle millions of users unlike crypto. Crypto will have its place among these currencies  but won’t replace them.
Also crypto can be banned by the government and can lose its hard gained adoption in a day.

Yes, just like what we're trying to do and that's adopting crypto with our lives. They don't have to fear it anymore unlike before that it seems too many rumors about them fearing the adoption of crypto. But, that's not how it goes now because too many financial institutions are liking this are progress, and they're joining. So, if there goes the idea of them having a crypto service, that's very likely and IIRC, Western Union is about to have it.

Current cryptocurency excluding Bitcoin doesn't have what it take to replace the fiats, Bitcoin could have done that easily but the vulnerability of the coins make it an unsuitable currency for global trade instead more of a perfect currency for speculation purpose which is why is seems Bitcoin is been used as an asset more than a currency. People hardly want to spend their Bitcoin instead they want to hold more because they believe it'll increase in price in the future. This alone is stopping Bitcoin from been used as a currency and if the most famous cryptocurrency can't be used then others as well can't be used.
If the government are looking for alternative to the fiat, they'll still need a currency that's centralized and controllable as that's how they monitor their citizens and cryptocurency don't provide such advantage so it'll be of no use to the government.

There is no doubt that cryptocurrencies have many benefits over existing physical currencies, even the value of crypto currencies is getting stronger from time to time even though basically investing in cryptocurrencies carries a high risk.

Some of the benefits of cryptocurrencies are that they are universal, transactions are carried out quickly, are transparent and can be carried out privately without the need for the help of second and third parties.

It is not impossible if one day crypto currency can replace the existing physical currency.

If we just take a look at the reason why these crypto are created, never we can think this will replace fiat money but we can say it was just an alternative currency. And this will serve as an option to which currency we use that is available in our country. Adopting this never means that we are throwing away local currency, not even the USD but as I've said above, it will remain like that as it was the main purpose of its existence.

I hold crypto and I hold fiat money as well because never been said that 10 years or 50 years from now, nobody will accept fiat money.

Other countries might do but I doubt cryptocurrencies will be their main currency. It will always be cash as the preferred means of payment.
We are not yet in the world where the government will really provide everything just so his countrymen will have the means to use cryptocurrency especially the poor.
It will be a waste of funds, or some will say it is not a wise investment at all. It could've been for food, for roads, infrastructure, and others but will never be for freebies like smartphones and there's a chance they won't even use it.
Knowledge is another investment; you will have to add it to the school curriculum.

I also think like that and actually I have never doubted crypto but to be able to replace currency seems to be difficult,
but the possibility will always be there and to be honest I don't see it will happen,
not all countries allow crypto and of course that will be an obstacle

-  You're right there, but of course, we still can't say 100% that cryptocurrency will replace other currencies. Because I don't think it's designed for that kind of thing. Instead, in my view, it was done not only to make a profit for the owners but of course also to allow others who are looking for a different way to earn here in this industry.

And if the number of people who are interested in investing in cryptocurrency continues to increase, it is because they see it as an innovation in the few years that it has been around the world today.

Change always occurs, and what happens to the future is difficult to think, if now Cryptocurrencies becomes very popular but I'm sure that the future of the transaction system can be better and replace Cryptocurrencies.

CBDC has become the must-sort-after financial project for most countries lately, and CBDC aims to play a role that will compete with other cryptocurrencies like bitcoin ethereum e.t.c.
But the challenge with some CBDCs is that they don't run on the blockchain so therefore can't be properly computed on the blockchain which make them not different from paper Fiat currencies.

I doubt that.
It's just too much to ask from a world that had been relying on fiat for most of their life and their ancestors. It's still early to say that we are near that kind of era.
But, I would like to see that before I am six feet under.
Transactions using cryptocurrencies with ease. Fast and secured. There may be a time that will happen but I just don't see it right now.

This is something that is very often asked.
Unfortunately, this will be very difficult to happen. Although cryptocurrency has been received by many countries, mass adopted, and also used for investment and payment tools, they may not be able to replace Alainny currency in a country. This is a system built by a country and this system is very complex. I am not sure if this can happen especially because they have power and government also will not let cryptocurrencies replace Fiat Currency. Most likely Cryptocurrency will only be one of the currencies that can be used for transactions, but not to replace.

Cryptocurrencies are now trending and are in great demand by many companies, but as investors we cannot excessive fanatics, change will continue to occur and someday there will be a system that will replace cryptocurrencies, now Cryptocurrencies are currently easy to use for fraud.

Cryptocurrencies are here to stay, that is an undeniable truth. But are they going to replace other currencies such as Fiat currencies as we know it?

Well, the reality is that cryptocurrencies as Satoshi envisioned are in a dying process. The total regulation over the Ethereum network and its change to a POS network that turned into a completely centralized network is clear proof of it. Now, once CBDCs come in, we may be seeing state digital currencies taking over while a total ban on unregulated cryptos is lifted...

The come in of CBDCs represent the takeover of cryptocurrency over fiat currencies, at least in technological terms, because nothing will change regards centralization since it remains the same even when dealing with cryptocurrency.

Crypto as it started with bitcoin, decentralized, won't replace centralized currencies, but it can remain as a side currency we have the possibility to use simultaneously while trying to avoid regulators' intervention with mechanisms we have at our disposal on the internet which can take us closest as possible to anonymity.

Crypto could replace mainstream currencies, but they will never succeed because governments and banks won't allow it. Such entities will simply launch CBDCs of their own to stay in power as much as possible. As far as decentralized cryptocurrencies are concerned, they will only remain as an alternative to the current monetary system for those who need them the most. Just like Gold is living alongside Fiat, the same will happen with Bitcoin and other cryptocurrencies. You can see why El Salvador hasn't abandoned the US Dollar completely even though it adopted Bitcoin as legal tender a year ago.

You can't simply avoid Fiat altogether when the world is too attached to it. Transitioning from the Fiat standard to the Bitcoin standard is going to take a lot of time and effort to become a reality (if it ever does). Let's face it, banks are too powerful and there's nothing we can do to stop them. As long as governments exist, don't count on Fiat's disappearance anytime soon. Just my thoughts ;D

It seems that centralized currencies and fiat's are the one that can take over crypto but we can't consider it as a replacement since they are already there before the cryptos came. Not all cryptos can remain but only the best ones are going to say just like bitcoin.

We are now in a bear where the prices of most coins are dumping but it does not mean they are dying. Regulations are slowly coming on here but not all of it are affected so chill man. Btc and other decentralized cryptos will remain as it is but eth is already expected to switch in POS because it's already centralized ever since the start. Some CBDC's are already there but only a few are using it.

I'm not sure whether the goal of your project coin will be successful or not. But here, I will comment on whether cryptocurrencies are able to replace currencies. I think this will be very difficult to happen and will not happen. Currencies issued by the government are the result of a system. If you want to replace it, maybe you should also step in and tear down the system. And this is not possible because a country still has its system and governance. Maybe cryptocurrency can be one of the currencies in a country, but not to replace it.

First of all we need to spread the knowledge about cryptocurrencies to the people. Because, 70% people still didn't know much about crypto world. When they will come to know then they will be able to use. And then crypto world be able to replace the other one.

A system that has been running for centuries and has been accepted on all fronts will be difficult to change or can be said to take time to change it, which is why the doubts always raises that crypto can replace fiat and until now it seem difficult to happen, even to make the government at least accept cryptocurrencies especially Bitcoin just an alternative to fiat still difficult to implement, moreover until now country that accept Bitcoin as legal tender has not shown a good change in the country

I don't believe crypto will take over Fiat, however, they can coexist. We need Fiat no matter wha, especially in the 3th world country where Fiat is highly depended on.

Once upon a time, in the role of fiat money, people used pebbles, or something like that, but then the time came for fiat money as we know it today. Time will pass and there will be only digital currencies in the world, and cryptocurrencies will have their important place in this system. This takes time, everything cannot happen immediately, there must be a period of acceptance and adaptation, this is normal.

Cryptocurrency is currently only an optional payment that can be chosen other than fiat, and it also depends on how the regulations are enforced in several countries.
some countries recognize and adopt them, but some other countries ban cryptocurrencies. this will indeed take a long time to be fully accepted, but replacing fiat currency is still a long way away and it is not certain that it will happen.

Just because something has been accepted for centuries doesn't mean that it will be like this forever. I mean remember that back in the day people used gold, then people used storing houses for gold and instead got credit papers that showed their deposits, then they exchanged those credit papers instead, then we started to move all the way to banknotes governments issue which was backed by gold, and now we have papers that are based on absolutely nothing. It already changed big time.

I am not saying it will be crypto that will change it again, but I can say that it will change, just because it has been used for a long time doesn't mean it won't change.

Have you noticed one thing that even if there is a change, the government can still control it, gold is not created by the government but they can control it? We are in a civilization that is constantly evolving so everything will be changed by something newer and better but it is still created and controlled by the government, there cannot be decentralized or unregulated crypto used instead. CBDC could be the next currency we will use.

Yes. But even with that, I don't think it will be possible for crypto to replace mainstream Fiat currencies. First of all, governments wouldn't allow it because that would mean losing control over people's finances. And second, there's the issue of volatility and limited Internet access worldwide. We can't expect Bitcoin or any other cryptocurrency to replace Fiat when such limitations/obstacles exist. It's been 13 years since Bitcoin's inception, but crypto/Blockchain tech still hasn't replaced Fiat.

At this stage, we could say crypto will remain as an alternative to the existing monetary system for the foreseeable future. I'm fine with that as long as it stays decentralized. Just my thoughts ;D

In my opinion, it is very possible to replace FIAT money with CRYPTOCURRENCY where crypto provides many conveniences, but it takes a long time because we realize that currently there are still many internet technology infrastructures that have not been built and many more who cannot use digital technology and the internet properly. . Meanwhile, there are still many weaknesses in this technology such as data theft, account hacking, blockchain hacking, and wallet hacking, and this is what makes it still hesitant to use it. in using it. I think when everything is maximized and risks are minimized in its use, people will dispel their doubts on this earth.

Correct, while we will need some form of money in order to keep the economies of the world running, the nature of that money will change as our technology advances.

Digital money is the dominant form of money of this day as it is very practical compared to its psychical counterpart, this development eventually allowed Satoshi to develop bitcoin and then for governments to develop CBDCs, and this will eventually lead us towards yet another round of developments, it just that we do not know when this will happen as it is difficult to imagine what could be better than bitcoin.

Cryptocurrency cannot replace fiat, even if it could. Fiat belongs to the states, and in the states there are a lot of ways to protect their currency from any encroachment. Therefore, as long as states exist, their national currency will also exist. Cryptocurrency should strive to occupy its niche in the global financial system and coexist peacefully with fiat states. That's the only way she can survive.

If that happens I think the process is also not easy and will take a very long time,
but I still have the opinion that crypto can't replace the current currency,
we'll see what the future will be like because we certainly don't know what will happen next

I have no idea if FMCpay will be popular or can replace other dominating currencies, but I do believe that a new promising cryptocurrency that delivers have high possibility to replace other cryptocurrencies of their ranking and functionality.  Besides, the cryptocurrency industry is like a battle or competition where the fittest survive.


Not really a long time, the cryptocurrency market and ranking as of to date aren't that stable, meaning it isn't set in stone that is hard to change or modify.  It is all about market performance and community building.  If the new cryptocurrency has the capability then it will obviously replace other cryptocurrencies even in a short span of time.


True that, and that is the reason why cryptocurrency aim is to be an alternative option.  But somehow, if all the countries recognize Bitcoin as a legal tender then it can possibly compete against state currency.

The governments that were completely against the usage of cryptocurrencies have slowly begun to regulate it. This is happening out of the government understanding the need. Particularly it is evident that people are moving towards it, and government need to make some arrangements to keep things in a balanced way. As suggested coexisting with the traditional system is the better choice than just trying to overcome the traditional currency usage around the globe.

read a little about the history of the medium of exchange or buying and selling in ancient times from starting to use the barter system then using bronze, silver, and gold coins and what we now use paper money (FIAT) where the evolution of the medium of exchange developed according to the ability of human understanding in its time. therefore I say that it is very possible BITCOIN or other cryptocurrencies add to or even replace the FIAT money used today. my estimate is when 70% percent of the world's citizens understand and know the system or mechanism of how BITCOIN works.

I agree that money evolves and develop but I do not think that cryptocurrency such as Bitcoin and other altcoins will replace fiat currency.  The most it can be is as an alternative mode of payment.  The only cryptocurrency that can replace government-issued fiat is a government-issued cryptocurrency which is centralized in nature.  The major reason why Bitcoin will settle as an alternative because the government won't allow decentralized cryptocurrency to be the main currency of their country.


But it isn't enough for the government to let decentralized cryptocurrency take the wheel.  The government will always make these cryptocurrencies on the check.

Cryptocurrencies are not a complete substitute for other currencies.
Over time, the demand for it is growing, and the status of cryptocurrencies is strengthening and it is becoming more prominent as a potential investment.

Cryptocurrencies will not replace national currencies, but will complement other currencies.
The volatility and fragility of cryptocurrencies are not yet accessible to everyone, and there will have to be a period of acceptance and adaptation.

Impossible on my point of view. Cryptocurrencies are not even widely accepted around the globe as a mode of payment. Also, it is decentralized and free of taxation and it happened that most  of the governments are not into these characteristics edpecially for a currency. Using Third party wallet would still use fiat which means that it won't be totally replaced by this technology.  Also, the market value of cryptos are naturally volatile which is a downside especially for non-investors. There's even a higher tendency for these two systems of currencies to co-exist with one another.


But how would it be possible and is it even competing included on its ourpose? It is enough to use it as an alternative and using it as an investment is huge bonus.

I don't think crypto will and can replace fiat, even though the value of fiat is getting lower and even worthless later, because basically fiat has become the currency of every country and is recognized by the world,
even if it has to turn digital, I think the state/government will create digital money.
the government is very afraid of the value of crypto which has high volatility and the price is unstable the main reason why until now crypto has never been recognized

this is only a temporary diversion so that people can be productive by choosing to trade and invest in cryptocurrencies, completely crypto will not replace the local currency they use.  the more people who use crypto will be able to boost its popularity and affect its price increase

As long as governments and central banks exist, don't count on the disappearance of Fiat anytime soon. It'll be here to stay no matter what. Even though inflation is "killing" Fiat, central banks have the power to strengthen their currencies by raising interest rates. While this results in severe pain towards risk assets like stocks and crypto, it's only for a short period of time. Once inflation is reduced by a large margin, Fiat currencies will return back to their former glory.

Let's face it, crypto will never beat Fiat because of its decentralized and censorship-resistant design. It will only serve as an alternative to those willing to "escape the system". I'm fine with that as long as crypto works as intended. With CDBCs on the brink of becoming a reality, I see a future where both Fiat and crypto will exist for generations. Just my opinion :)

Cryptocurrencies will not replace other currencies, but they can coexist. Both cryptocurrencies and fiat currencies have their own advantages, and they can bring different benefits. Replacing fiat currency with cryptocurrencies is difficult, and it is only accepted as a payment method in a few countries. Due to its decentralization and volatility, it has not been recognized by countries all over the world.

And that is more than enough, can you imagine a world without bitcoin? In a world in which governments can already do pretty much whatever they want this will be much worse if bitcoin did not existed.

At least now we have an alternative, and while the adoption of bitcoin is still low, it may get to the point in which we could use it almost everywhere, and that will be more than enough for the people like us which are looking for at least some level of economic freedom.

Having Bitcoin as an alternative to Fiat is a blessing. Especially during these times where governments are becoming more intrusive into people's lives. With Bitcoin you're able to enjoy true financial freedom as no one will be able to confiscate or freeze your funds at will (that is if you control access to your private key or seed). Not like Fiat where it's easy enough for the government to cut access to your funds for no reason. In these times where Russian citizens are cut off from the global banking system (due to sanctions against the Russian government), Bitcoin would be the best choice to participate in the global economy without restrictions or limitations whatsoever. That's thanks to the decentralized and censorship-resistant design of the cryptocurrency.

Without Bitcoin, we would've completely doomed by now. Some may say it's impossible for crypto (especially Bitcoin) to replace Fiat, as governments won't let that happen. I'd say that's somewhat true, but that would depend if people are willing to continue to trust banks after the near-collapse of Fiat. With more people joining the Bitcoin bandwagon, there's a possibility the cryptocurrency will replace Fiat in the future. For what I know, the sky is the limit. Who knows if "hyperbitcoinization" becomes a reality faster than we could've ever imagined? Just my thoughts ;D

I don't think crypto will replace legal currency. Although the status of cryptocurrency is strengthening and being recognized by more and more people, if it is not accepted by the country, it cannot be used in daily transactions. Payments for daily life must also be made in legal tender.


Although the value of legal currency is getting lower and lower, it has become the currency of every country and is recognized by the world. Everyone is familiar with it and accepts it. Legal currency will continue to exist. In the future, the banking system may consider integrating the blockchain network to develop a better economic system.

Cryptocurrencies will not replace fiat money, nor will governments and banks allow it. In many countries where people rely more on fiat currencies, cryptocurrencies are not widely accepted globally as a form of payment. Fiat currencies will not disappear as long as governments and central banks exist.

That’s true, as of now fiat and crypto co-exist as a payment method. As a merchant, I have integrated both fiat and crypto payment gateways and I really like the significant difference between the transaction costs as I'm only paying 0.5% with capitalwallet. Cryptocurrencies have provided us the transparency and speediness that we have always longed for. So, it will be no surprise if cryptocurrencies replace fiat as a payment method in future.

It is unlikely that we will ever see a period when only digital currencies will be used. For this, technical progress and the standard of living in most states must rise to very high levels. However, now we continue to observe wars with their inevitable destruction of economies and a decrease in the level of well-being of citizens, new diseases and epidemics, global climate change for the worse, which provokes new cataclysms like the recent earthquakes in Turkey and Syria.

States are able to issue and issue digital currencies only as a kind of their non-cash payments. Therefore, the cryptocurrency can only go in parallel with the fiat of the states and is not able to replace the national currencies of the states. As long as states exist, they will not allow crypto to surpass their fiat.

The internet and the digital currency are not new anymore but they still remain as is. They never change the fiat system that we have. It's better to have two option because if option A is not available, we still have option B. It's possible for a country to progress but I think most countries do have a slower rate in terms of growth.

It will only take forever and yet people are still using the same old fiat because their knowledge are not yet good enough or their country still lacks of high quality infrastructure to operate the digital currencies in a stable manner. And you said there are still other problems which might occur. It will be better to focus on those first because they are more deadly.

If you try to draw up a real plan to replace the currencies of states with cryptocurrency, it will become obvious that such a development of events is impossible. The form of social structure in people has always been the state, which has its own attributes of power, including its inherent currency. If the state loses control over the currency that circulates in the country, it will lose the ability to influence economic and political processes and will be replaced by the same form of government, only more viable. However, the essence remains the same.

It is predicted that in the future states may be replaced by the dominance of individual corporations. In practice, these will be the same mini-states and they will also have their own currency.
Cryptocurrency can only be an alternative to the currency of states and nothing more.

No, cryptocurrency cannot replace any currency, namely the legal currency of a government. but cryptocurrency can be used as a legal medium of exchange in certain circumstances. for example using crypto to pay for food or other shopping, in my opinion only like that can be used for transactions. the rest to replace the currency I don't think will happen

States will begin to degrade until corporations take over the world. There will be little-to-no government influence in our future society. While crypto will never replace Fiat, it will prove to be an "escape route" from "evil corporations" for those who need it the most. Since privacy is decaying right now, people will switch to decentralized cryptocurrencies for true financial freedom. Crypto is just starting to blossom, so it's going to take decades before they become widely adopted by everyone worldwide.

We're early adopters of the revolution, considering that BTC is only 14 years old. The more unstable nation states become, the more people will trust crypto/Blockchain tech. Who knows if we'll be the ones laughing out in the end? Just my thoughts ;D

No, cryptocurrencies will not replace other currencies, because it is not so easy to use them at shops. And they are not so popular as USD for example.

Europeans are worried about the continuously decreasing value of their currency so many Europeans are migrating in virtual currency and most of them are investing in crypto to reduce their financial risk and this is also part of their solution to continue making money trading crypto.
In response to those concerns, I think their financial value will remain at a baseline, maybe a little bit of volatility doesn't mean their currency will lose value. I think that is a wrong understanding. cryptocurrency cannot replace currency in a country.

Cryptocurrency is very famous and very successful almost every person wants to be a part of it hence it provides a way to give you beneficial outcomes. But fiat currency have its own place and own reality so Cryptocurrency cannot replace fiat currency. One reason is that in many countries cryptocurrency is not permitted therefore people cannot use it and cannot be a part of it. Cryptocurrency is acceptable but not everyone accept it because they are in a fear that due to its changeable price therefore these are some reasons that cryptocurrency can be full of advantages and people can use it with their jobs but it cannot replace fiat currency.