Do you believe that digital currencies will replace Fiat?

[Gaaara]

I believe it cannot replace fiat, but they can be used both in community. Of course it cannot easily replace something that cycles over a hundred years, it can be adopted to be used for a larger purpose but replacing other currency is not a thing for it. Besides it is better this way by not having a absolute value for some to gain profit from it.

[lite]

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

There always be fiat, it cannot be replaced i guess. government or banks will probably create their own coins and eliminate cash. banks in Japan are considering creating j-coin, if they do it and are successful other countries might follow!
https://cointelegraph.com/news/japan-considers-launching-j-coin-eliminating-cash-before-tokyo-2020-games

[green547]

come on the central bankers and government would never let this happen.

[Bluestreet]

Yes, I believe that digital currencies will replace paper money and is going to happen soon, as statistics says majority of America uses cards for purchasing daily life goods rather than using paper money, so there will be a time when people will use cryptocurrencies instead of cards and paper money as using them is even simpler than using cards.

[VanDeinsberg12]

Yes, I believe that digital currencies will replace paper money and is going to happen soon, as statistics says majority of America uses cards for purchasing daily life goods rather than using paper money, so there will be a time when people will use cryptocurrencies instead of cards and paper money as using them is even simpler than using cards.

Credit card is actually digitalized form of fiat but well, your statement is still right though. so many people switching over to the simplest method for paying stuff, and credit card or debit card give all of them.
by the way, if we are talking about bitcoin as digital currency, I doubt it can compete with credit card or debit card.

[Marileno]

I agree that we are on our way there, although i dont believe the cryptos in their current form will be the answer. There is  a  lot that needs to be addressed before we go mainstream

[Remainder]

I think it's not gonna happen because digital currencies is just data and no physical form just like fiat and some place don't have any internet connection even a single laptop on sub-urban and rural community areas and it's a long way of process.

[Xervo]

I believe that this is quite possible and most likely this process has already begun. More and more industries in the world integrate crypto-currency payments into their systems. There are already ways to pay with a card with crypto-currencies in restaurants, shops, hotels, taxis and other places. Everything to that goes.

[Anfisman]

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

I think even though the rapid development of digital money today, digital money is still difficult to replace the role of fiat money in society, especially people who still live in the village or remote place. Currently most of the digital money is still used by urban communities where they live very possible to use the digital money. in my country, based on data released by banks, the demand for fiat money is still stable even up to five years ahead, because the needs of society is still high with fiat money for everyday transactions.

[eann014]

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

For me, I don't want fiat will replace by digital currencies, bitcoin is good as it is, and I will still want to have fiat here in our country, because not all here in our country accept bitcoin and they still don't know bitcoin.

[Md Saad]

i think so. with the help of technology, digital currency are replacing the position of fiat money, but it is basically happening in the developed country.day by day Bitcoin is becoming a profitable system which provides a lot of profit to the people. also day by day Bitcoin is getting accepted by the many platform. so that i can say that besides all other digital currencies, Bitcoin will replace fiat money in the future.

[Jeger]

Yes digital currencies will replace fiat somewhere in the future but not now.
Digital currencies adoption currently is low, meanwhile almost everyone accepts and acknowledge fiat. A few people acknowledge digital currencies and a little portion of it accepts digital currencies.
Probably in a decade digital currencies will be widely accepted.

[rebel92]

The trust model in bitcoin is different. I know that the system is not subject to the whims of an elite (or less so than with fiat money anyway) relative to the money supply. The only trust I must is derived from the size of the bitcoin economy. It's tiny right now, compared to the USD for instance. But it's growing everyday, and with it my trust of it. Already bitcoin is more trust worthy than a couple national currencies and I don't see this trend stopping. It's unfair to compare bitcoin to the USD (the most successful currency in the history of humanity). What I'm pointing out is that bitcoin as the potential to overthrow that. By being border less, bitcoin has the potential to be supported be the biggest economy in the world. National currencies are artificially contrived to their borders (not entirely but very much so).

Saying that bitcoins get their value from CPU cycles is the same as saying that US coins get their value from the force applied by the press during the minting process. Or that gold gets it's value from every cycles that the mining equipment go through. You've already acknowledged that currency gets value from trust in the overall economy. I have trouble following your argument.

There is no trust relationship between me and the bitcoin network. My trust comes from an understanding of the programming/math behind bitcoin. I don't have to put my trust in an individual or an institution, like the government for instance. My trust in the currency (not the network) is based on the size of the economy. If there were only two people trading bitcoins, I wouldn't trust it. If there's 2 billion people trading, I'll trust it a lot.

[Wonza99]

The credit cards already did the job. Now is the time for the bitcoin or altcoin to do their job

[Wishcoin.IO]

While what we see as cryptocurrency being seperate to FIAT currencies today, I definitely believe the two will become closely linked in the future - in a much different way than we see today.

While cryptocurrency (or any digital currency) to become close to replacing FIAT there would need to be standardisation in place to be able to regulate it. I do believe that the rate Bitcoin and all other cryptocurrencies are growing in adoption definitely ensures a closer link to the two in the future - will one replace the other? I don't think so, but I think both could become much closer aligned than we see today.

[Bruce Wayne]

I can't imagine a fiat-less world in any of our lifetimes.

[Catmony]

Fiat might exist for few more decades because internet is still not accessible in large portion of the world so it will take a lot more time for digital currency to take over usual paper cash or fiat we have.

Also all fiat are backed by some form of bonds or valuable material which might not change in future too.

[NorrisK]

What is your definition of a digitial currency?

Fiat is already mostly digital nowadays. You have to trust the numbers on your bank account with no way of knowing where the money came from.

Fiat is government backed, and if crypto becomes that, it turns into fiat.

[romero121]

There are possibilities, but I don't have the complete belief. When the digital currency reaches majority of the population digital currency will get served as an alternative for the traditional fiat system. Same won't replace the paper money that we're using at present. Also most countries will convert the paper money to a digital form which is similar to using the fiat in a digital format.

[dart vader]

Both Digital currencies and Fiat money have their own features.Using digital currency instead of fiat money is one step to become cashless but i dont think that digital currency can replace fiat money because digital currency is not accepted everywhere .It does not have any physical form so it cant be used directly in all the physical stores. Inorder to use digital currency,we firstly have to convert it into some other currency having physical form.From so many years people are using fiat money for financial transactions so it will be very difficult for digital currencies to replace this traditional system of transactions.So rather than replacing fiat money ,digital currencies will work hand in hand with fiat money.