Do you believe that digital currencies will replace Fiat?

[Lyancy001]

I know it may not be possible right now, but do you think fiat will be gone in the future?

[veraoktav127]

I know it may not be possible right now, but do you think fiat will be gone in the future?

if it is lost entirely it is not possible, because in the interaction there must be an exchange process, so cash money will definitely be needed and will not disappear from the market but may not dominate again

[acpr23]

Maybe, not impossible but will take a lot of time i guess, there are a lot of people who has less knowledge in technologies, once their generations passed, blockchain tech will soon be known by the world and that time fiat may be out-valued by cryptos.

[BitcoinHodler]

fiat is already half "digital", it doesn't have to be the far future. soon it will be 100% digital and most probably a big part of it will involve blockchain technology because of the way banks are currently working on it with so much interest.

but things like bitcoin (a decentralized cryptocurrency) will always remain as secondary option in my opinion. it can not "replace" fiat.

[Zorbak]

What I belive it will happen in the near future is that every gouvernement will create his own crypto, so we will have centralized crypto backed by gvt.

They will never accept a money that they cant control so BTC will coexsists.

[joseafonso123az]

Well I think they can't replace fiat, because fiat exists physically, and as of now, it's more used than BTC. Woner if you don't have energy for a whole week, you wouldnt be able to use your money in crypto, but in fiat you could. Digital currencies are becoming a trend, especially BTC, so  I expect to see the usage of BTC increase, but not totally replacing fiat!

[squatz1]

I've said this before and I"ll continue to say it, I highly doubt that governments will ever allow for digital currencies to swoop in and takeover the currencies that they've had control over for a long time. Governments aren't just going to give up their power because a group of decentralized people decided that they wanted to takeover the game.

Governments, politicians, and bureaucrats strive for power. Giving up an insane amount of their power, which is the Federal Reserve / Tresaury and all the money which comes from the banks to keep them in power.

I think the only chance for this to happen is if the population goes full stride in taking digital currencies and using them, governments will never advertise or succumb to fiat.

tldr: Nope.

[bling-bling]

I know it may not be possible right now, but do you think fiat will be gone in the future?

This may actually be possible considering the fast paced advancement of technology now a days. Because of this, majority of what we know exist today may be obsolete in the future. And fiat may not be an exemption. But it will be quite a process before this would become a reality..

[CryptonomyCapital]

I think that cryptocurrency can take a dominant position, but fiat money will still remain.

[shimbark123]

Well probably if digital currencies make it offline. Probably that would be the best thing to happen. If they put bitcoin offline many people will adore it and will use it. Because fiat currencies are offline that is why it is the traditional way.

[edynolan]

I know it may not be possible right now, but do you think fiat will be gone in the future?

it's hard to do because some countries still have not legalized the crypto currency and if it happens then every country should make their own coins to replace their currency. for the future the possibility is indeed fiat can be lost and replaced with digital because the technology will be more advanced so automatic digital currency will be widely used.

[paolo099]

this will never happen, have read tons of question like this but no, an unregulated currency replacing fiat? no way, it's ok be a dreamer but come on, be real.
Way too many interest behind, big company, government, banks and so on, it will never happen (at least while we're alive who knows what will happen in 150 years?)

[Red-Apple]

i don't know why people always think in terms of "replace", "kill",...
there is always a middle ground you know. digital currencies can become integrated into the old monetary system and help it evolve into something more advanced.
and the decentralized ones such as bitcoin can simply exist alongside them as the "decentralized" money without borders.

[Trofo]

Crypto currencies will for sure take bigger and bigger parts of the market and became much more used (mass adoption).  But I don't believe Fiat will ever be completely extinct or that future crypo currencies will be similar to the ones we are using today. There is still so much room for improvement.

[bololord]

I know it may not be possible right now, but do you think fiat will be gone in the future?

Confusing about this but maybe? Becuase when you see the advantage of cryptocurrency than fiat , when we talking about  cryptocurrency it's more chances to bump but when we talk about fiat sometimes increasing but it takes a long time.

[amandavsc]

yes, but I think it's going to take a long time. bitcoin and fiat money will coexist for a loooong time

[Smokey Bob]

Yeah, I believe it can. When the transaction costs of digital currency are lower than those of fiat it is only a matter of time before there's a transition into digital currency. There are some prerequisites for this tho, like the country being fairly wealthy so that everyone has access to a computer and smartphone of some sort.

[~Bitcoin~]

If you are talking about paper cash than it will be rare soon in most of t he countries but in poor or underdeveloped countries people might keep on using paper cash for next few centuries.

Digital currencies is future and cryptocurency might replace traditional banking system and internet banking we have right now.

[BlackPanda]

I know it may not be possible right now, but do you think fiat will be gone in the future?

I believe that bitcoin in the future will have enormous power and can also be used to perform financial transactions in various sectors. maybe bitcoin could be a highly desirable currency in the future. but to replace real money / fiat I think it will be very difficult. there must be a highly supportive infrastructure for transactions. because the fact may be in the future also there are still areas that still want conventional transactions, all will be affected by the culture of citizens in a place. for urban areas I am very sure this could have been realized. but the conclusion that fiat is still needed in the future and can not be eliminated completely.

[fiulpro]

Yes thats completely possible but ! At the same time its not nice for the people who are below the poverty line.. those who can't afford to buy bitcoins or understand it better also using a digital currency requires a certain amount of knowledge and at the same time money but , since they don't even get proper food to eat I don't thibk that would do any good for those people..
Thus I think fiat will not be exterminated wholly but.. it will be used with other cryptocurrencies.
Also usage of cryptocurrency needs electricity thus you cant carry that everywhere.
It won't be possible for bitcoins to work on their own..they can aid but not replace.