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Author Topic: Will crypto replace fiat money?  (Read 1943 times)
Xanxus024
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November 22, 2017, 05:08:58 AM
 #41

No fiat is like a traditional currency that used by all of our ancestors over so many years so every countries have local currency and have a central authority. if fiat replace the crypto world will become centralized form that's a big problem the high security of our private key can known by some higher authority.   
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DannaWonder
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November 22, 2017, 05:43:51 AM
 #42

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)

It is possible that crypto currency will replace the current fiat system but we don't know when. Alt coins are created for a specific purpose and it might be impossible for an altcoin to replace the whole fiat. Most probably Bitcoin can replace gold and may be the basis of value for all crypto currency.
tranthang146
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November 22, 2017, 06:11:18 AM
 #43

Might be but It'll take much longer time do complete this case cause Bitcoin only can replace fiat when and only when it's legalized worldwide, but for now there are only few countries that legalized Bitcoin already so Bitcoin still can't totally replace all fiat money all over the world
YayProto
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November 22, 2017, 06:14:10 AM
 #44

Crypto is quite unstable. And, governments soon or later will start control/limiting of cryptos. Monopoly of money emission is a one of the fundamental parts of the governmental institute.
Gategold
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November 22, 2017, 06:14:54 AM
 #45

Might be but It'll take much longer time do complete this case cause Bitcoin only can replace fiat when and only when it's legalized worldwide, but for now there are only few countries that legalized Bitcoin already so Bitcoin still can't totally replace all fiat money all over the world
I don't think so, they will make their own cryptocurrency. Many people said that bitcoin isn't good to be used by most of people in the world because it has problem in scalability.

Reez
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November 22, 2017, 12:39:39 PM
 #46

I would like to know if cryptocurrency will replace fiat money in the future,  also if so how long it will likely take. 

a decentralized cryptocurrency like bitcoin has little to no chance of "replacing" fiat which is completely centralized. which is why i think it will never happen.
but we may see in the near future, fiat change form and become more digital than it currently is. and it can use the blockchain technology and become a cryptocurrency itself but it still is going to be centralized and in control of the government and only belonging to one country not a global currency like bitcoin.


Quote
Also,  I would like to know which coin you think would take over if one will.  (E.G. Dogecoin,  BTG, LTC, XMR)
neither of these are even capable of becoming a serious currency. LTC has the best chance among them but all the rest have serious scaling issues. and BTG is a premined shitcoin.

Crypto is already replacing FIAT money. FIAT money is worthless and has no place being the world rserve currency. How can it be the universal ledger in which we all base our currencies off of it? How did we agree to this? How did we let this happen? I guess it happened slowly over thousands of years and the scam just went on and on. Well now it stops thanks tho BTC being sound money.
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November 22, 2017, 12:44:54 PM
 #47

In my opinion, it is still too early for cryptocurrencies to replace fiat. We still have to persuade people that cryptocurrencies are much safer than fiat and more convenient to use. More and more people are switching to the cashless transactions so it won't be an issue. Changing the national currency isn't an easy process. Shops and their workers will have to switch completely to a new currency which will take a lot of time.

wel24
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November 22, 2017, 12:59:27 PM
 #48

For me ,soo early to replace our fiat currency with crypto currency.Maybe someday it will happen.Theres a big possibility that fiat will be replaced esp. if all banks in the world will adopt the crypto for transactions.We have high technology era so nothing is impossible.
cryptojac17
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November 22, 2017, 01:06:51 PM
 #49

In my opinion, it is still too early for cryptocurrencies to replace fiat. We still have to persuade people that cryptocurrencies are much safer than fiat and more convenient to use. More and more people are switching to the cashless transactions so it won't be an issue. Changing the national currency isn't an easy process. Shops and their workers will have to switch completely to a new currency which will take a lot of time.
Yeah it would take quit longer to replace FIAT circulation because is centralized and supported by government, but crypto currency is starting to evolved
and there is  bigger possibilities that it would not replace FIAT because in my belief would be it will work together because with out FIAT how can you measure the value BTC ?. I believe This two currency will co exist, BTC probably will replace gold reserved in central bank.

secondgarlic
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November 22, 2017, 01:09:04 PM
 #50

Nope, that will not happen. Think about it, when thinking about bitcoin we still talk about how much it is worth in dollars. As long as you have to define your own worth by referring to your competitor, you don't have a lot of chance to replace it.

tree1100hn
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November 22, 2017, 03:21:16 PM
 #51

BTC will not replace the legal tender, after all, legal tender has government credit. BTC does not have, and is still decentralized, so many governments have refused to use BTC, an encrypted digital currency. Hard to track, it is difficult to control money laundering is a drug crime.
bitcoindusts
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November 22, 2017, 10:45:28 PM
 #52

BTC will not replace the legal tender, after all, legal tender has government credit. BTC does not have, and is still decentralized, so many governments have refused to use BTC, an encrypted digital currency. Hard to track, it is difficult to control money laundering is a drug crime.

Funny how you can say that bitcoin is hard to track when you can see transactions  on the blockchain clearly.  Aside from that, bitcoin is not the only cryptocurrency in the world, if government decided to make their own cryptocurrency and use it as their fiat money, then your logic is flawed, I do not think that it will be adopted soon but the possibility is high that government will issue their own cryptocurrency and thus, if that happen, we can say that crypto can replace fiat money. 
Reid
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November 22, 2017, 10:49:48 PM
 #53

It will be.
This world needs to be upgraded and we cannot stay with the way we are doing now.
It will get our lives more comfortable and the transactions will be faster and easier.
It is the world of the internet now and soon everything will be done with just a click away.

ahmadakbari
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November 22, 2017, 10:58:14 PM
 #54

In my opinion, it is still too early for cryptocurrencies to replace fiat. We still have to persuade people that cryptocurrencies are much safer than fiat and more convenient to use. More and more people are switching to the cashless transactions so it won't be an issue. Changing the national currency isn't an easy process. Shops and their workers will have to switch completely to a new currency which will take a lot of time.

What will happen in future depends on governments. If they decide to replace fiat money with cryptocurrencies, all the people will also accept it and will use it. But I don't think governments are interested in cryptocurrencies.
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November 22, 2017, 11:27:54 PM
 #55

I cannot foretell as easy. Maybe it needs to condition our mind and make case study before implentation of bitcoin as new currency. I believe there is a big potential of bitcoin to replace as currency because bitcoin features/characteristics  are very essential in humans life..
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November 22, 2017, 11:37:55 PM
 #56

I don’t think cryptocurrency will replace fiat currency. There will be a lot of adjustments before that happens like giving every person in the world an access to the internet network or cryptocurrency can be used offline. If there’s something that would really do that then that would be Bitcoin.

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Theta Labs
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November 22, 2017, 11:47:55 PM
 #57

I think of it more as a supplement to money, but it may crowd out Fiat inherently.
Hamstead
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November 22, 2017, 11:55:51 PM
 #58

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 really don't think it would happen. Even though cryptocurrencies will fully establish but then, not all of us are using this and also establishment accepting this kind of currencies. Anyway, there is nothing get troubled if we use both fiat and crypto. Atleast we have an options which one is preferable for us to used in a transactions we made. And besides, having both of them can made our life easier and it will give satisfaction to everyone.
andthereyou
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November 23, 2017, 12:15:49 AM
 #59

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)
There's no telling if it will or not replace fiat. No one can predict the future anyway. There's only probability. However no one have make an extensive research about cryto replacing fiat. Thus we could not determined the probability.
CodyAlfaridzi
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November 23, 2017, 12:24:34 AM
 #60

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)

Very unlikely for now. It may happen in distant future, but for now and 5-10 years ahead, not gonna happen. Even Bitcoin isn't legalized yet, some countries even banning anything related to Bitcoin, let alone "cryptocurrency replacing fiat". My short(-er) term goal for Bitcoin is getting legalized and regulated loosely by most country. Once we have a clear legal base on Bitcoin, many more conventional financial institution will start jumping in and pouring some money into the ecosystem.

What coin is more likely to take over? Obviously Bitcoin, the one and only. When will it completely take over fiat? Very far from now, might also won't happen at all. It would need a major change in the current global economic system for that to happen. I just can't see that happen. But if it does, I'll be very happy. That means the world are moving further and advancing to a better state.
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