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Author Topic: Will crypto replace fiat money?  (Read 1937 times)
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November 21, 2017, 06:27:43 PM
 #1

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)
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November 21, 2017, 09:54:18 PM
 #2

It is too soon to tell as bitcoin is still in its infancy stage
and has yet to become mainstream and adopted by the
public.

I don't think it will replace fiat currency in at least 10 years
or more. We still have a lot to achieve and I believe this is
only the beginning of a revolution.

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November 21, 2017, 09:57:47 PM
 #3

Well i guess its YES  Cheesy but  it will takes many many years before its all implemented in all over the country.
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November 21, 2017, 10:09:50 PM
 #4

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)
The development of the world raises the need for a fast, secure and confidential payment system. The payment system is a mechanism that includes the arrangements used for the delivery of payments through the exchange of values ​​between individuals, I think crypto money will not replace fiat money.
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November 21, 2017, 10:11:28 PM
 #5

I doubt that cryptocurrencies will ever replace fiat, at least not cryptocurrencies as we know it -- ie. the permissionless and independent of government type.

Whether some sort of government "cryptocurrencies" will appear is a question of its own, although I doubt the viability of this concept. Either way, in my opinion cryptocurrencies are going to play a large role as a means of payment, regardless of whether it will complement or replace traditional money.

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November 21, 2017, 10:12:19 PM
 #6

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)
No its impossible to happen that bitcoin or other crypto currency will replace fiat.. thats impossible to be happen..

It is too soon to tell as bitcoin is still in its infancy stage
and has yet to become mainstream and adopted by the
public.

I don't think it will replace fiat currency in at least 10 years
or more. We still have a lot to achieve and I believe this is
only the beginning of a revolution.
Well i think bitcoin will not become mainstream in terms  of payment processor since bitcoin is not reversible there other people wanted to be safe in buying online .. There are pros and cons of using bitcoin and other people like to use paypal as payment mode because of reversible policy....

Well i guess its YES  Cheesy but  it will takes many many years before its all implemented in all over the country.
No it will not happen even in the future..

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November 21, 2017, 10:12:42 PM
 #7

why you dont mention BTC
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November 21, 2017, 10:32:31 PM
 #8

Well i guess its YES  Cheesy but  it will takes many many years before its all implemented in all over the country.
Maybe.But as of now i think it's far from being possible.Yes cryptos at the moment are really famous but it's not yet implemented by the government.And since it has its own decentralized system,i think the government would find it hard to trace all its users.Maybe after long,long years the government will acknowledge cryptos if they are still existing by that time.

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November 21, 2017, 10:37:40 PM
 #9

Central banks want to keep control over currencies to influence the economy, for better or worse. It is the reason why the gold standard was abandoned abd replaced with fractional reserve banking. It is everything Bitcoin is not. Crypto will replace only fiat money when governments are replaced, maybe even the whole society is replaced.
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November 21, 2017, 11:02:56 PM
 #10

Central banks want to keep control over currencies to influence the economy, for better or worse. It is the reason why the gold standard was abandoned abd replaced with fractional reserve banking. It is everything Bitcoin is not. Crypto will replace only fiat money when governments are replaced, maybe even the whole society is replaced.
I think it is really impossible that the crypto replace fiat money because  crypto is really different from the fiat money.it is not really a money that sailed by the government maybe it is only an kind of investment.while fiat is a money that sailed by the government property and it should be used to collect taxes,orcpay everything wuth its corresponding country.so then it is really impossible that the bitcoin can replace fiat.
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November 21, 2017, 11:13:17 PM
 #11

It's like I said only possible if crypto reforms the whole world and society. First we must remove the underlying causes that makes things like tax and fractional reserve banking a reality.
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November 21, 2017, 11:16:30 PM
 #12

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)

Crypto currencies are mostly decentralized, if this will be replacing fiat in the future, then I can conclude that there will be a lot of crypto currency that is not decentralized and I think if that happens a little population of people will just be using that because they don't want to use a crypto currency under the hands of the government.

Most of the people that use crypto currency is because they wanted to use a currency freely and also without that big fees to send. For now these crypto currency will not take over, but if the government decides to use crypto currency, it is obvious that they will make their own, but expect it that it will not be a decentralized currency.

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November 21, 2017, 11:22:08 PM
 #13

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)
I think it takes a long time if crypto wants to replace the fiat in the world. And if you look at it now then there are not many coins who have a chance to do it, I just choose Bitcoin and Etherum as a coin who has a chance to do that. we can also see that currently there is no altcoin that can show a positive trend in a continuous and stable. So the choice will only be a little and it will happen in the time that is still long enough, maybe a few decades from now and this is unlikely to happen in less than 10 years.
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November 21, 2017, 11:23:40 PM
 #14

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)

This has been asked throughout the forum for so many times. Cryptocurrencies are volatile and decentralized and do you think that the government will allow something uncontrollable to get into their economy and being used as the main currency?

There will be a cashless society but it will be not with cryptocurrencies. But if this will happen, the closest and most possible coin that will be use if possible bitcoin is the most preferred.

But I don't think this will happen in the future, they might implement some cryptocurrency that is centralized so they can control it, the supply, the price and it's marketplace.

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November 21, 2017, 11:30:04 PM
 #15

Seeing the big problems that bitcoin is facing even at this early stage of its history, it seems very difficult for me that bitcoin can become the currency that replaces the fiat money. But I also believe that technology is advancing so much that hardly fiat money will survive more than 20 years, and bitcoin is a good advance in its elimination, but there is still much to improve.
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November 21, 2017, 11:30:35 PM
 #16

i believe into crypto as currency but i'm telling the truth i can't i the future of the crypto so far to replace the fiat the reason are crypto as first ditigal currency being decentralized is easy to use in any transaction i'm favor for the idea the crypto replace fiat, but for now have many country against the crypto as currency and hopefully someday crypto become legit worldwide.
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November 22, 2017, 12:06:09 AM
 #17

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)

For me, Bitcoin and other crypto currency can never replace fiat, because crypto currency is not that stable, and you currently can't use it without internet connection. But we can use it like the credit card, For me Crypto is just like a credit card that you can use in cashless transaction.

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November 22, 2017, 12:11:45 AM
 #18

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)

I think all countries will retain their own fiat currencies. Bitcoin and altcoins will just be financial tools within the world economy along with credit cards, PayPal, banks, debit cards, etc.

I think many people will begin to shift from storing money in banks to holding it in cryptocurrencies. Many cryptocurrencies also serve a specific function based on how they were developed and marketed.
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November 22, 2017, 12:13:22 AM
 #19

Well i guess its YES  Cheesy but  it will takes many many years before its all implemented in all over the country.

I don't think so, fiat money will never be replace, instead cryptocurrency is just another option for us to use online and transact easily. Yes cryptocurrency is the future, but I think it will takes century before it replace fiat or never.

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November 22, 2017, 12:16:25 AM
 #20

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take.  Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)

Anybodys guess is as good as yours because nobody really knows what the future will bring regarding cryptos and fiat. However I do like to speculate and I think that eventually (25 years roughly) that BTC will become the

dominant worldwide currency yet not sure whether it will need fiat backing or not when it comes down to it. I know we will need fiat for the next 5-10 years beyond that I am not sure it will be needed as everything is digital!

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