Why Can’t Cryptocurrencies Replace FIAT?

[Urban Crypto]

If FIAT Replaced the Gold Standard, Why Can’t Cryptocurrencies Replace FIAT?

History has shown that we have moved from the barter system to the gold standard and then to FIAT.  Is Cyptocuurency the next standard?

Have a look at my post, feedback appreciated, but please don't be too harsh.  I don't claim to be an economist or expert in this area.

https://urbancrypto.com/if-fiat-replaced-the-gold-standard-why-cant-cryptocurrencies-replace-fiat/

[SCCFX]

because crypto curnecy not ready physic
only digital curency, so is very dificult can replace fiat, cyrpto curency user only maker money online
if not maker money online not understand about bitcoin

[MicroGuy]

If FIAT Replaced the Gold Standard, Why Can’t Cryptocurrencies Replace FIAT?

History has shown that we have moved from the barter system to the gold standard and then to FIAT.  Is Cyptocuurency the next standard?

Have a look at my post, feedback appreciated, but please don't be too harsh.  I don't claim to be an economist or expert in this area.

https://urbancrypto.com/if-fiat-replaced-the-gold-standard-why-cant-cryptocurrencies-replace-fiat/

Nice article! Yes, cryptocurrencies will obsolete fiat much the same way the automobile obsoleted the horse and buggy. It's simply better money.

[Urban Crypto]

If FIAT Replaced the Gold Standard, Why Can’t Cryptocurrencies Replace FIAT?

History has shown that we have moved from the barter system to the gold standard and then to FIAT.  Is Cyptocuurency the next standard?

Have a look at my post, feedback appreciated, but please don't be too harsh.  I don't claim to be an economist or expert in this area.

https://urbancrypto.com/if-fiat-replaced-the-gold-standard-why-cant-cryptocurrencies-replace-fiat/

Nice article! Yes, cryptocurrencies will obsolete fiat much the same way the automobile obsoleted the horse and buggy. It's simply better money.

Definitely seems like a possibility, the question is if, and when?

[Praetorian.1legion]

Never will those in power take this. But what about taxes? Without FIAT, there will be no state. This topic can be developed to infinity. But does it make sense? We do not decide this. Do we need this?

[ChinkyEyes]

Only time will tell. I personally believe that the blockchain will change the world as we know it now. I am just not sure how it will replace or improve the use of FIAT.

[LodisMcguire]

FIAT is convenient to use for everyday expense,it can be used directly to pay it,not wait for confirmation and no additional fees
But if crypto can be used so easy like that,i think crypto can replace FIAT in term of transaction

[edmundduke]

Crypto currencies will replace fiat but its rather unlikely they will do so in the near future. There will most likely be gov created tokens that will be used in place of the current system, not much will change other than the costs to run the system. Crypto as we know today serves another purpose.

[bitcointarget]

Fiat money is unique since the creation of the world. Crypto is just a good and innovative technology to make our lives easier. We all must beware of this and don't expect too much things from cryptocurrencies.

[Blitzboy]

The cryptocurrency only exists on this planet for a few years while fiat has been created for many years and centuries. It is very hard to abandon paper money right now because most of the people still find that it is comfortable to use cash. In somehow, cash is still faster than bitcoin and other cryptos and people can easily use cash without advanced technologies.

[jk_14]

There's no reason for cryptocurrencies not to be able to replace fiat currencies one day.
Whether or not it really will depends on a wide range of factors though. Such as the rate of adoption, how governments will deal with cryptocurrencies in the future, whether or not scalability issues will be addressed sufficiently and whether or not the average Joe will gain sufficient trust in cryptocurrencies as a form of wealth storage and payment mechanism. The latter would require some way for tech unsavy people to feel secure about their funds, which means that there needs to be a simpler way to keep private keys and stuff like that safe.
Considering that central banks literally just shit out money at will though, I do think that we will eventually make the move to cryptocurrencies. After all, central banks are devaluating fiat currencies through the printing process, which causes prices to increase while simultaneously the wages and salaries of the lower classes remain largely constant. This is what causes people to be "poorer" over time.
If those same people realized how money works however, and started using their money in smart ways, there would either be no poor people or the system would collapse.

We will most likely see a mix of both worlds for the next few decades though.

[ZhuldyzKaladinova]

to be honest
frankly at the shop if i buy makeup ima just pay with cash. cause using my phone to pay with some address is too nerve wrecking really
just use that cash if you have that cash at hand
and some coins make a good sound, and some good papers in your hands can be a nice feeling

[jk_14]

to be honest
frankly at the shop if i buy makeup ima just pay with cash. cause using my phone to pay with some address is too nerve wrecking really
just use that cash if you have that cash at hand
and some coins make a good sound, and some good papers in your hands can be a nice feeling

I have always been paying with plastic, ever since I got my first bank account. I hate carrying around pocket change, it bloats my wallet and slowly destroys the leather over time. It's also annoying to have to count the change if you want to get rid of it, or even bringing it back to the bank to throw into one of those automated change counters.
Debit/Credit card >>>> Paper/metal currencies. And at that point, there's little difference between using cryptocurrencies or fiat money, especially with cards like Monaco and whatever the other ones were on the horizon.
The only value in "hard" cash is of sentimental nature and thus negligible. I'd also rather not have trees cut down just to print some shitty numbers on them.
Alas, I can not think of a single redeeming factor that is in favour of cash.

[LilibethSantos]

If FIAT Replaced the Gold Standard, Why Can’t Cryptocurrencies Replace FIAT?

History has shown that we have moved from the barter system to the gold standard and then to FIAT.  Is Cyptocuurency the next standard?

Have a look at my post, feedback appreciated, but please don't be too harsh.  I don't claim to be an economist or expert in this area.

https://urbancrypto.com/if-fiat-replaced-the-gold-standard-why-cant-cryptocurrencies-replace-fiat/

Fiat currencies are backed by governments (those guys with all the guns) so it would be hard to replace it anytime soon. Perhaps in several decades from now, cryptocurrencies will have a big enough market share to completely replace fiat.

[TheLuckyBastard]

I am sure it is possible to replace fiat.

But a currency should have a lot of features to do so.
One of them is a kind of a central bank, but with de-centralized ownership of assets and investment decision making.

[jk_14]

I am sure it is possible to replace fiat.

But a currency should have a lot of features to do so.
One of them is a kind of a central bank, but with de-centralized ownership of assets and investment decision making.

What do you mean by central bank with decentralized ownership? As long as there's a group of people that owns the assets and decision making processes, be they investment related or not, the bank becomes fully centralized. Please elaborate?

[ZhuldyzKaladinova]

I am sure it is possible to replace fiat.

but really why? I really wanna pay with cash. Some nice papers and coins. You can use some rubels or some euros. Some nice central currency is a good feeling sometimes.
   But Bitcoin is very very good. It is the good digital asset.
   But. In the shop I wanna pay by cash.
   Why? Taking out my purse and the phone is a long time. Cash is just the coin or the papers. It's a goooood feelin. we say Cash Cash Gotta Drop It where I come from. They like to play with the bills. But. ultimately money is not so best

[batang_bitcoin]

We can make paper money through crypto currencies and I believe that is possible to happen in future. But people are just now focusing by purchasing stuffs online with it. It was also known because of it's tag line as the modern digital gold or currency or something like that. And that's why people thinks it can also be used online.

[jk_14]

I am sure it is possible to replace fiat.

but really why? I really wanna pay with cash. Some nice papers and coins. You can use some rubels or some euros. Some nice central currency is a good feeling sometimes.
   But Bitcoin is very very good. It is the good digital asset.
   But. In the shop I wanna pay by cash.
   Why? Taking out my purse and the phone is a long time. Cash is just the coin or the papers. It's a goooood feelin. we say Cash Cash Gotta Drop It where I come from. They like to play with the bills. But. ultimately money is not so best

I really don't get your point. I pay faster with my debit/credit cards than people pay with cash. People have to count the change and whatnot, which takes time. Entering a 4-digit pin or just swiping a piece of plastic takes far less time than paying with coins and paper and then counting the change.

[ZhuldyzKaladinova]

I am sure it is possible to replace fiat.

but really why? I really wanna pay with cash. Some nice papers and coins. You can use some rubels or some euros. Some nice central currency is a good feeling sometimes.
   But Bitcoin is very very good. It is the good digital asset.
   But. In the shop I wanna pay by cash.
   Why? Taking out my purse and the phone is a long time. Cash is just the coin or the papers. It's a goooood feelin. we say Cash Cash Gotta Drop It where I come from. They like to play with the bills. But. ultimately money is not so best

I really don't get your point. I pay faster with my debit/credit cards than people pay with cash. People have to count the change and whatnot, which takes time. Entering a 4-digit pin or just swiping a piece of plastic takes far less time than paying with coins and paper and then counting the change.

so you honestly prefer the credit card not cash? nice cash coins and papers from different countries?
all the same american VISA brand ? no thank you i dont support this type of thing. i just use my rubels
i am already happy
i dont need usa card