Cryptocurrency as our Fiat

[benalexis12]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

It will be in the future plan of bitcoin but if your asking if it's essential part of currency then we can contribute but issuing taxes on bitcoin. There's a cons about bitcoin coz it will be used by illegal activities

[bitcub]

Endorsing crypto as a national currency can be really hard.  And Bitcoin itself is not fit to handle this due to scalling issues and very high fee. Each nation's government must create a special crypto that is scalable with very low fees like DOGE to handle this.

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

[darkangel11]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

That's pure speculation but IMO we are moving in the direction of automation and electronics. People want everything to be handled automatically, fast and easy. We don't want to spend time on checking whether the bills are real or not, we don't need that tactile experience cash gives. We don't want to worry about taking the wallet with us, remembering to keep it safe, having enough cash in it. It's all a waste of time and effort.
At some point we will be paying with our thumbprint or a scan of our retina, or maybe through a chip under our skin, or simply through a computer on our wrist. That last option is already available thanks to smartwatches.

[Hydrogen]

I think that there are a few competing concepts presented by fiat and crypto currencies.

Fiat is implemented with unlimited supply. This gives regulators more flexibility. They can print more money when economic conditions are poor and to some degree "optimize" supply. On the flip side, unlimited supply can lead to hyperinflation. Unlimited supply can also empower bad economic policy and poor decisions made by world leaders, under the assumption they can "simply print more money" if deficits or debt become too large or unmanageable. It might be said that deficits and debt are large today, partly because of fiat currency having unlimited supply.

On the opposite end of the spectrum, we have bitcoin which is algorithmically limited and has a finite supply of 21 million coins. Its limited supply isn't as flexible. BUT if bitcoin were utilized as a national currency, it would demand higher fiscal responsibility. World leaders could not simply print more money if they mess up the budget. A nation printing its way out of debt wouldn't be feasible. The idea and implications of finite supply, and the way it contrasts with fiat's infinite supply could be one of the most relevent things bitcoin and crypto has to offer.

In terms of abstracts, these are interesting points which could bear more discussion and debate.

[partsofgarble]

We need a little ibt more of technology, if you are in a big modern town i bleieve 2018 can make that a 'reality'

[faceoff97]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Why not, there were some countries who really use digital currency and it save them. Its possible to happen in the future, seeing tge advancement and development of cryptosystem. Its actually can be use as of the moment to buy good and service, in fact there were private and public institutions who really does accept bitcoin. Once people have discovered this and finally have it and accept it. Surely there will be transition to cryptosystem.

[mrcash02]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Why not, there were some countries who really use digital currency and it save them. Its possible to happen in the future, seeing tge advancement and development of cryptosystem. Its actually can be use as of the moment to buy good and service, in fact there were private and public institutions who really does accept bitcoin. Once people have discovered this and finally have it and accept it. Surely there will be transition to cryptosystem.

Yes, developed technological countries are already making good use of Crypto-Currency. The daily usage isn't so strong yet, but it's increasing day by day even faster. For some countries it will take more time to happen, but for the pioneers the advantages of Crypto-Currency usage will be more evident, making another countries inspire on their example. To make it possible the first step is to fully introduce technology everywhere, on each shop, little ones of big ones, doesn't matter and at schools, to teach people and make them aware about Bitcoins since their childhood.

[Oceat]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

I couldn't think what kind of society that will be, when everyone was using a hard wallet to be paying for every of their transactions of their daily life. Like paying in the taxi, restaurant, malls, etc. Imagine one these would happen to you? And do you think that society would be ready to accept these changes in their daily lives? A lot of questions is popping out in my head because this one is on for an open debate.

[btcmayumana]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

I do not really agree if bitcoin replaces fiat, because to be a currency is required a stable price so it can be used for daily trading.
Currently bitcoin still has problems with high transaction costs, it is not yet eligible to be used as official currency. Bitcoin can replace fiat, if the government can make regulations about how to solve the problem.

[tabas]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

There is a chance that can happen if there are certain parts of the world or a small city that declares their medium of currency is through crypto's but this must be supported by the government. Not today since banks and governments are subject to this idea but I know it one day when everyone accepts everything through crypto.

[kevoh]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Yes, I believe so. Although, cryptocurrency is still trying to gain grounds as its users represent a tiny fraction of the global population, we can see it is gradually being adopted as exhibited by the various crypto projects that have been developed to serve useful purpose not just as a store of value. Over time, these various cryptocurrency projects will have been modified and fine tuned that they will become an essential part of our economy.

The major stumbling blocks to the growth of cryptocurrency will be the manner Tax agencies and the government will react.

[entrepmind23]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Maybe there would be at some point when cryptocurrency will be use as fiat currency but I can't imagine it to be happening sooner because technology is needed when it comes to dealing with cryptocurrencies. It may look like people are already in advance technology and it seems that everyone has smartphone whatsoever but if we look at the status of the world as a whole, there are still so many people who are very behind in terms of technology because they even lack the basic necessities such as water and electricity. It would be hard for them to use an electric money if they don't even have electricity.

[Xanxus024]

It is a good idea but at some point i think is not gonna happen as crypto currencies as a main currency, Because many people are not totally accepted any crypto even if they know cause they think it is a form of scam and beside crypto currecies has no physical form and always need a internet connection to make a transaction I think it is not suitable for daily needs .

[equator]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

I dont think that bitcoin can become fiat currency type of daily use as bitcoin is good for investment due to the supply is so low.

[randyg29]

I think it is going to a hard process to became a fiat to our country but I see how it works in me that's why it can be possibe to be our fiat soon and I think many people will agree with bitcoin to be pur fiat.

[JL421]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Cryptocurrency has high chances of being the new fiat only in the future as the implementation of a cashless economy will make it easier for e-transactions to be used more widely and to use these cryptos as a source of payment too.

[Indrawan77]

I don't think at any point crypto is going to replace our fiat, crypto currencies only can be used as the sub currency, unless the crypto currencies that you mean is the crypto that created by the government, but in that case the crypto will have the same value with fiat

[pinoyden]

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

as of now cryptocurrencies is now being part of our daily life but of course fiats are still there becuse fiats are still the legal and well known curency to be used localy on our country. crypto will not be able to crossed the line and replaced fiats even if  they will improved well. this is also happened before when credit cards and debit cards had introduced to the public but look at now fiats are still being used primarily when compared to them. therfor it can also likely happen on bitcoin or any other crypto.

[BillCoin]

I don't believe it is ever going to happen.
There are several problems with that.
One of the main reasons that it is never going to happen is that in order for that to happen the cryptocurrency will need to replace the country's coin.

There is not a country that will allow a foreign or a crypto currency to control them, they need a currency they can control, and cryptocurrency is decentralized from it's nature.

[Rajamuda]

For me personally, because I live in a country that has not really legalize bitcoin/cryptocurrency completely, well it does not seem.. let alone be a daily news and an essential part of the economy, cryptocurrency remains as an digital currency that coexist with Fiat.
With Fiat of course I can spending it directly to buying anything that I want, but not with cryptocurrency.. for me personally it must to keep selling it to local currency first.
But on the other sides, I believe for those who live in the countries that has been legalize bitcoin, I think yes.. it certainly be a daily news as if cryptocurrency is an important role that can be equated with Fiat to make any efforts including spending it with directly in everyday life.