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Author Topic: How would bitcoin coexist with digital fiat in the future?  (Read 1174 times)
acroman08
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March 27, 2017, 10:06:10 AM
 #21

There is digital fiat right now guys and Bitcoin is coexisting with it at the moment. I doubt it that it would be any different in the future than the current situation. If people prefer to use Bitcoin then they will use Bitcoin it's just a matter of personal preference.

But today's digital currency is just optional to use I think what OP means is that If digital currency is being used mainly
by the people how will BTC coexist with it surely features that can beat BTC will be applied to the digital currency and might
be able to outshine bitcoin and be forgotten by everyone.
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March 27, 2017, 11:05:35 AM
 #22

So in the future, fiat currency will become digital only and cash will completely disappear. Credit cards will also disappear. People will be implanted with chips that contain all their information and they'll need the chips when buying or selling goods

 I have many questions:

How would bitcoin coexist in the future with this method of payment?

Will it get accepted as a second currency?

What about other crypto currencies or bitcoin forks?
This looks like something we only see in a science fiction movie,but I doubt if this could happen in the next ten years,government and the banking institutions will offer strong resistance,because banking is a multi billion industry and government can impose taxes in this industry something the crypto currency cannot.


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March 27, 2017, 01:13:00 PM
 #23

almost the same as fiat money, how curency be useful, but cryptoccurency is a special currency and used special too, or could be saving a digital future, without the intervention of banks using a fiat currency, and use desentrelisasi may have an advantage cryptoccurency. the future is not yet of course we certainly need special savings for the future is less clear, and that is certainly aware of this underlying as an investment in the future.

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March 27, 2017, 01:15:26 PM
 #24

Who cares about fiat, digital or not?

Fiat is a thing of the past, and it doesn't need to exist at all.


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March 27, 2017, 01:18:15 PM
 #25

I suppose when such future will come it will come the era of new global currency with which you will not even need to convert it in some other currency. So all people will use one Worldcoin or something like that.
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April 04, 2017, 03:56:05 PM
 #26

So in the future, fiat currency will become digital only and cash will completely disappear. Credit cards will also disappear. People will be implanted with chips that contain all their information and they'll need the chips when buying or selling goods

Dude, those implanted chips you are saying only exist in a Sci-Fi movie. Stop relating our real future with those in such movies for those are merely wild imaginations.

How would bitcoin coexist in the future with this method of payment?

At the beginning, bitcoin is already coexisting with the fiat money so even if bitcoin gets accepted worldwide, it will be the same.

Will it get accepted as a second currency?

Actually, I personally do not know. And as for my opinion, it has no sense at all if it will be treated as a second currency. Bitcoin will still be bitcoin. We can use it in any transaction so why treat it as second currency?

What about other crypto currencies or bitcoin forks?

What is your clear question regarding those? I cannot answer such question correctly/accurately if the question is unclear. It will just raise confusion.

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April 04, 2017, 11:25:03 PM
 #27

I think fiat will still be used for everyday transactions.  Bitcoin has a specific market of computer nerds - that's why services like Steam are starting to accept it.  The option of Bitcoin may exist on online shops like Amazon, though.

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April 04, 2017, 11:36:40 PM
 #28

Wait what chips ?! Why do we even need any chips if we can just implement it to maybe a digital bracelet or iwatch.

Down to the serious talk. I just don't think that bitcoins will ever become the ONE and the ONLY currency used.
Why ?
Simple. Banking systems won't allow such "uncontrolled" methods to take over. It shall live side by side with fiat. The fact that bitcoins are banned in some places isn't favorable of your idea either.
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April 05, 2017, 06:47:47 AM
 #29

Bitcoin could be used as a reserve asset or a transitory currency, either would be fine.

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April 05, 2017, 06:59:42 AM
 #30

So in the future, fiat currency will become digital only and cash will completely disappear. Credit cards will also disappear. People will be implanted with chips that contain all their information and they'll need the chips when buying or selling goods

 I have many questions:

How would bitcoin coexist in the future with this method of payment?

Will it get accepted as a second currency?

What about other crypto currencies or bitcoin forks?
Actually here no one can say about the true future of the bitcoin . Because existence of bitcoin is going to destroy in few countries and opposite of this most of the countries accepted the bitcoin officially , so here it is more hard to predict about the future of the bitcoin as an secondary payment system .
But it is still truth that bitcoin will be use by the every day by day with growing rate and no matter wether any country hate bitcoin .
But here it is possible also that some most famous cryptocurrency also got the priority to use .Well all over depends upon the future where the countries government will see the bitcoin from which point of view .


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April 05, 2017, 07:08:59 AM
 #31

I think that bitcoin will be accepted as one way of payment by most countries.
But they will all make rules and regulations of how bitcoins have to be handled.
In the end of that process I do not think it will make much difference if bitcoins are used or the local fiat.
And people will comply to that regulations, after all most of them fear the conflict with the authorities.

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April 05, 2017, 08:15:11 AM
 #32

Bitcoin coexisting with other digital currencies is possible, but if such thing happens sure bitcoin becomes an centralized asset. More countries have plans on implementation of digital currency for their own country need, when it gets combined the government have control over every transaction. So anonymity too gets destroyed.


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April 05, 2017, 08:46:18 AM
 #33

So in the future, fiat currency will become digital only and cash will completely disappear. Credit cards will also disappear. People will be implanted with chips that contain all their information and they'll need the chips when buying or selling goods

 I have many questions:

How would bitcoin coexist in the future with this method of payment?

Will it get accepted as a second currency?

What about other crypto currencies or bitcoin forks?

Yes the idea in their is very incredible that bitcoin will be used for good, but for me, cash won't never ever disappear, yes maybe bitcoin can be used in everything but it doesn't mean it could disappear the money. Maybe bitcoin can be another way to used in buying the things we want. Micro chip? Well i doubt it Smiley
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April 05, 2017, 08:54:04 AM
 #34

A bracelet type chip would be preferable. You can put your bitcoin micro wallet in there along with your government supplied "ID chip"

this is somewhat preferable than having a chip implanted on the body. also, having a government id chip is a good idea too for identification purposes.

and with the question of the op if bitcoin "will it get accepted as a second currency?"  it is already for most of the country. you can visit netherlands or research about it. in arnhem city, there are so many shops down the city who accepts bitcoin as their second currency.. its not only netherlands but so many countries already doing this.

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April 05, 2017, 10:36:54 AM
 #35

So in the future, fiat currency will become digital only and cash will completely disappear. Credit cards will also disappear. People will be implanted with chips that contain all their information and they'll need the chips when buying or selling goods

 I have many questions:

How would bitcoin coexist in the future with this method of payment?

Will it get accepted as a second currency?

What about other crypto currencies or bitcoin forks?

I think whenever a digital national currency exist and the paper money does not exist anymore, Bitcoin will function as another currency which can be use as an alternative to any nation's currency.  Since bitcoin provides ease of transfers without any bank intervention, people might find it worth using as an altenative than their own's nation in sending currency world wide.

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April 05, 2017, 11:07:00 AM
 #36

Well cash will never be disappear because the country need fiat to balance their economic, depend too much on technology for doing transaction is a bit dangerous because we know that not all network is secure and then credit card served different purposes because credit card is more like debt, and even all of them not exist anymore bitcoin also got an advantage which is anonymity and can act as investment, and there are already country that accepting bitcoin as second currency


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April 05, 2017, 12:12:00 PM
 #37

I think this is possible. We are heading towards cashless money, although I think cash will not disappear entirely, but fiat as digital version and Bitcoins could co-exist and that is the future.  Aldo I don't think that credit cards will disappear, some forms of physical payments will be kept, at least for a while.

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April 05, 2017, 12:30:37 PM
 #38

Didn't you guys read the memo? Cheesy people are fine and happy using fiat and they will be in the future, though I don't know about chips in our bodies since I won't use such technology to become cyborg Cheesy but there might be a network where all the cctvs/ cameras in every shop/ store/ restaurant/ gas station, etc. will identify your face and whatever you can purchase or more like you can go and grab whatever you want to buy and then walk out the door while the cameras automatically calculated the amount of your purchase and deducted it from your bank account and no employee to work in those places other than of course the usual security guards which even right now most of them lack, and if your balance is not enough of course the door won't open or the guards will stop you and over all there are some down and up sides but that method is more practical/ logical/ achievable.

I doubt if 90% of all the people want to use bitcoin not for any particular reason but they rather stick to the norms, and they really don't need to use it.
Only the people using bitcoin right now for the use cases, easy to use/ transfer. basically being the money and the vault both at the same time.
Being something new giving people many new opportunities enabling them to print their own money in their houses ( yeah I know mining is no longer profitable and bla bla bla Cheesy ) being a decentralized system, many countries sanctioned by the world eaters ( world powers) leaving them with disadvantages but their people shouldn't suffer from political conflicts and are truly innocent but unable to conduct businesses with other nations/ countries for the very legit reasons ( not any military/ illegal purchases) they can use bitcoin and in that matter justice really has been served properly by the benefits of BTC.

Anyone coming in contact with cryptocurrencies and could use them for something then they'll do so no matter if you live in tyranny or democracy people will do whatever they want.

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April 05, 2017, 01:32:46 PM
 #39

I think that bitcoin will be accepted as one way of payment by most countries.
But they will all make rules and regulations of how bitcoins have to be handled.
In the end of that process I do not think it will make much difference if bitcoins are used or the local fiat.
And people will comply to that regulations, after all most of them fear the conflict with the authorities.

Bitcoin will be accepted as a form of payment be it in the local shops, merchants and in any kind of business and services there is. But even though bitcoin is accepted it doesnt mean that it can replace fiat currency. One big reason is the amount of bitcoins in the circulation and it cannot cater the total number of people in the world and the total number of fiat currency in the circulation. But anyway it doesnt matter the important thing is that bitcoin is accepted and is increasing in value.

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