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Author Topic: transition FIAT to DIGITAL?  (Read 1484 times)
Jmmerquita
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August 06, 2017, 06:15:28 AM
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how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh
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August 06, 2017, 08:51:05 AM
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the transition from physical currency to digital currency has begun a long time ago. these days people rarely use cash. we are all using cards, our phones and all kinds of weird stuff to pay online/offline. and that was a long process and took years.

transition from fiat to bitcoin is another thing though. I don't think it will happen. people and government won't simply give up on their centralized country currency and use a decentralized global one. not for another 100 years maybe. but that doesn't mean bitcoin can be used as a currency alongside fiat though. I am only talking about replacing it.

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August 06, 2017, 09:09:44 AM
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More and more people are accepting Bitcoin every day, and now that Bitcoin is finally going to scale there is nothing holding it back.
Since people already use their cards and phones to pay (via NFC), in-store payments with Bitcoin won't be as difficult to them. Scanning a QR code is just as easy as using Android Pay, if not easier.

But cryptocurrencies will never replace FIAT unless it's a centralized, government-made cryptocurrency (meaning not Bitcoin).
We can therefore only hope that Bitcoin will be used everywhere alongside FIAT.
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August 06, 2017, 09:12:27 AM
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the transition from physical currency to digital currency has begun a long time ago. these days people rarely use cash. we are all using cards, our phones and all kinds of weird stuff to pay online/offline. and that was a long process and took years.

transition from fiat to bitcoin is another thing though. I don't think it will happen. people and government won't simply give up on their centralized country currency and use a decentralized global one. not for another 100 years maybe. but that doesn't mean bitcoin can be used as a currency alongside fiat though. I am only talking about replacing it.
Transition has been happening all the way from the days of bitcoin getting into existence. Recently Japan legalized bitcoin and soon more countries have started to show interest on bitcoin. Before that few countries such as Swiss and Korea had plans of implementing digital cash.

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August 06, 2017, 09:17:10 AM
 #5


We are just waiting for the new history to be fulfilled.
As long as the value of our Digital Currency keep increasing, i like that.
Keep on collecting crypto coins, join mining, engage in Trading & receive free Airdrops.
And crypto holders would benefits. Time will come, people will completely choose Digital currency.

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August 06, 2017, 09:18:16 AM
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More and more people are accepting Bitcoin every day, and now that Bitcoin is finally going to scale there is nothing holding it back.
Since people already use their cards and phones to pay (via NFC), in-store payments with Bitcoin won't be as difficult to them. Scanning a QR code is just as easy as using Android Pay, if not easier.

But cryptocurrencies will never replace FIAT unless it's a centralized, government-made cryptocurrency (meaning not Bitcoin).
We can therefore only hope that Bitcoin will be used everywhere alongside FIAT.

In terms of payment methods, there will not be much different indeed. And a good example of a town that is all about acceptance is Arnhem, http://www.arnhembitcoinstad.nl/kaart - this shows a map of the places that are accepting BTC.

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August 06, 2017, 09:19:37 AM
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how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

That will be easy for everyone if it has been given a good explanation. We've often seen, already many payment methods using digital technology and we just need to convert it into digital currency technology such as bitcoin. Bitcoin just need to be legalized then people will be easy to use it.
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August 06, 2017, 09:24:31 AM
 #8

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

That will be easy for everyone if it has been given a good explanation. We've often seen, already many payment methods using digital technology and we just need to convert it into digital currency technology such as bitcoin. Bitcoin just need to be legalized then people will be easy to use it.

With regards to legalization of bitcoin itself it has nothing to do with the transition of fiat to digital currency today, because people were now making digital currency as sources of fiat currency and in an exact term to say it commonly an exchanges from digital to fiat cash money.

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August 06, 2017, 10:09:50 AM
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how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh
People adapting to change won't be any problem for long as much as we have developed over the to use things that we  never thought would have been possible 30 years back but in the case of bitcoin, the moment government is pushing for it, it won't be long for every one to comply fully and compliance would mean acquiring the required knowledge in due time without any stress and also promote its use as well.
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August 06, 2017, 10:27:49 AM
 #10

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

Its a matter of educating the people about the advantages & benefits of the digital currency.
If the people are properly oriented, they would embraced digital money.
If the people saw the good results, they would adapt change.

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August 06, 2017, 10:30:16 AM
 #11

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

I think they will be happy to see this change. Just imagine no worries of bank huddles that we get all the time, no more documentation practices amd more added security. I can transfer funds across the world within matter of time.
Even some countries are taking leap by making their country a digital world for superfast working. If they see that as a future then surely they will accept the bircoin as happily as they are loving the digital world today. :-)

Also, getting rid of bitcoin would be so fun as there wont be any need of carrying big cash with while shopping or travelling. Bitcoin will solve the problem with a QR codes.

Yeah its a good change and everyone will love it.

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August 06, 2017, 10:37:53 AM
 #12

Fiat will never be the same as bitcoin, if they go into electronic form. The main difference in these rates is that Fiat is regulated by the state and, therefore, will always be inflation. Each coin has its own bitcoin financial proof and therefore they are not threatened by inflation. There are more differences, but it's a long story.
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August 06, 2017, 02:43:07 PM
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We are still actually in the introductory stage for cryptocurrency and this can take a lot of time before cryptocurrency can be accepted by the mainstream population. There are many factors holding back its massive adoption. Plus only a few authorities seem to have an approving mindset for decentralized digital currencies as it mean less control for them. This control issue can be a thorny one as move along down the road.

Now, another factor that can put a blackeye with cryptocurrency is the fact that since transactions are not reversible it is now the preferred choice of hackers and scammers and soon even terrorists would be jumping into the bandwagon. I am not saying that it is the fault of cryptocurrency but we all know that when a tool is becoming popular with criminals the use of that tool can be regulated by the government.

It is hard to tell where is cryptocurrency is going to be years from now. I am wishing that it can be so popular that governments will have no choice but to accept it but then we really don't know what developments would take place that can in one way or another influence the use of digital currencies.
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August 06, 2017, 02:52:10 PM
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I would like to share the recent example of India, the government of India recently demonetised largest denomination currency notes and there was a sudden surge in the cashless transactions and even the price of Bitcoin went 15% to 20% up for the pricing in India. I don't think we are new to the concept of Digital money so there will be no issues in the adoption of Bitcoin in my opinion.

* Shift to cashless economy: Demonetisation has indeed boosted digital payments but let’s not over-hype it.

* demonetisation: Demonetisation: Why Bitcoin is gaining currency in cashless times.

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August 06, 2017, 02:57:49 PM
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how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

This is not new. I used a digital currency as a payment method. Instead of bringing cash, I choose to carry a card or a mobile phone. It's quite lightweight and safe. So the transition from FIAT to DIGITAl is being adapted and used by many people

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August 06, 2017, 03:10:33 PM
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how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

This is not new. I used a digital currency as a payment method. Instead of bringing cash, I choose to carry a card or a mobile phone. It's quite lightweight and safe. So the transition from FIAT to DIGITAl is being adapted and used by many people
if I get it right yeah its been used already but if there's other things that OP meant I think it will still achieve and since that we are inside crypto better to
expect a lots of things like this, digital age are already conquering the industry and fiat wont be able to stop it.

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August 06, 2017, 03:15:36 PM
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how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

This is not new. I used a digital currency as a payment method. Instead of bringing cash, I choose to carry a card or a mobile phone. It's quite lightweight and safe. So the transition from FIAT to DIGITAl is being adapted and used by many people
So when create the Bitcoin, Satoshi Nakamoto not say it is digital currency, he say Bitcoin is cryptocurrency. But the definition cryptocurrency of Satoshi until today I can't understand it Cheesy. Maybe the cryptocurrency is currency decentralization and not have anyone can control it.

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August 06, 2017, 03:48:02 PM
 #18

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

This is not new. I used a digital currency as a payment method. Instead of bringing cash, I choose to carry a card or a mobile phone. It's quite lightweight and safe. So the transition from FIAT to DIGITAl is being adapted and used by many people
So when create the Bitcoin, Satoshi Nakamoto not say it is digital currency, he say Bitcoin is cryptocurrency. But the definition cryptocurrency of Satoshi until today I can't understand it Cheesy. Maybe the cryptocurrency is currency decentralization and not have anyone can control it.

But he said that it will be widely used and the volume of the traffic will increase the reason it needs a solution. That case he knows what will happen and also his predictions and goals to bitcooin.

For me, cryptocurrency and digital currency has the same difinition they just have a different terms.

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August 06, 2017, 05:34:12 PM
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It will take much time before the world shifts toward mass use of a digital currency and Bitcoin will replace fiat money as a currency. Currently, many countries have recognized Bitcoin as a currency and I think that this is a great step towards it. For this to happen, I think that it should be first be made available to everyone. Everyone should have access to it, and technology should advance to allow convenience for every user.

It may take several years first before this may happen, but I think that a shift towards a cashless society and the use of digital currency would revolutionize society and its use of money.
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August 06, 2017, 05:56:41 PM
 #20

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

It will not be easy, but remember we adopted paper money in replacement of gold coins back then so it is not impossible. The thing is the human race is moving towards phasing out paper. That will likely include paper money in the future. Money will also be digital, but the question which one is it? Will it be bitcoin or other cryptocurrencies or will the governments create their own digital currency.
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