Cryptocurrency as our Fiat

[budz0425]

it cant be happened. because a lot of country reject bitcoin as payment. and it cant replace fiat, because not all people use and know about bitcoin

I don't think it can happen right now that Cryptocurrency will become the global fiat or the international currency like dollar, it is better for the bitcoin to stay as is, since we are benefiting from bitcoin due to unstable price, if bitcoin will make as fiat for sure it has fix price already, how can we earn if that happens right?

[worle1bm]

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?

The use of these cryptocurrencies is still limited and only 15-20% of the population is dealing in this business or is aware about the market and technology and if the question arises like replacing of fiat by crypto dont seems possible at some point because fiat has gained faith of large population from the past and is widely used and because it is legalized by govt. they can exchange it easily for goods which is not the case with altcoins.So fiat gain dominance over other coins in all aspects and remains ahead of it.

[kingragnar]

this question can not be happening because Cryptocurrency has a lot to cover one of which is Bitcoin here if it happens in a single economy there is a law that can be implemented in this type of system. So Cryptocurrency as our Fiat money can not happen in an economy or in a country. Because there are many barriers to this system, especially the government that puts the tax that they collect into those who invest in an economy.

[ahmad21]

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 once used to imagine a world of cryptocurrency where you are king of your own money and no one really controls the economy. But then came the horrible idea of transaction fees which really halted my dream as I have to pay now a cut from my money to bear expenses of transferring it. 1%? Thats fine I can bear it but 10-15%?? wasn't paying tax better? But that's fine as I can send money quite quickly within seconds. But minutes? or even hours? Moreover the so called decentralize world is centralized by a handful of miners. So cryptocurrency world is still a very long dream until we find a good coin that can be used for mass adoption.

[ajmapalo22]

Yes I can see that digital money can become the world's fiat. There are some countries that start adopting bitcoin in their market so I think the posibilities of having it in our normal day to day transaction is very soon to happen. When governments finally solve their issues when it comes to legality and acceptance of bitcoin that will be the start of a much brighter future for crypto currencies.

[dewi91]

In my opinion crypto currency will never replace fiat.. fiat is the one of indentity for every countries and crypto currency it just will be alternative methode of payment.. eventhough now crypto currency is more increase day by day, but really difficult to replace fiat..

[vincentallstar]

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?

Cryptocurrencies are very popular nowadays, thas why many people used bitcoin in daily life, but the point of Cryptocurrency changes our fiat or our traditional money, i think this may not happen anymore it is possible to used at alternative money to buy some stuff online but how about the small store?
just keep in your mind replacing cryto over fiat will not happen in the future.

[ricardobs]

It should not be possible in the short term. Now the encrypted currency circle is growing up. There are not many people who use the encrypted currency, but the good news is that people who are willing to accept the encrypted currency are mostly young people. These people will become the main force of the society later. I believe in the future of the encrypted currency.

No I don’t think that will ever be possible, because bitcoin and the other cryptocurrencies are specifically meant to Investment. They will just be coming and dying off at last. Bitcoin might reign for some years, but time might come when it won’t be the best anymore and nobody would be interested in investing on it. Maybe another coin like Ethereum or Litecoin might take over and people will be rushing into them. When they fall, another also takes over. That’s it.

[gabmen]

Yes I can see that digital money can become the world's fiat. There are some countries that start adopting bitcoin in their market so I think the posibilities of having it in our normal day to day transaction is very soon to happen. When governments finally solve their issues when it comes to legality and acceptance of bitcoin that will be the start of a much brighter future for crypto currencies.

Well they're adopting bitcoin but is still keeping their fiat system well and running and i think countries that have adopted btc like japan would keep it that way. Its hard to imagine that btc will br used the same way as fiat because they have certain uses for people's needs

[XinXan]

In my opinion crypto currency will never replace fiat.. fiat is the one of indentity for every countries and crypto currency it just will be alternative methode of payment.. eventhough now crypto currency is more increase day by day, but really difficult to replace fiat..

They just need to solve a few problems before they can actually be used as day to day currencies. Bitcoin can't right now and perhaps never will, the fees and transaction times are too high so it can't be used as normal currency, look at steam, they had to drop bitcoin as payment because it wasn't good for them, that says it all.

[KourtneyK]

Honestly, in my country I can’t imagine these cryptocurrencies can become one of the fiats in our locality. It’s hard to imagine because cryptocurrencies are yet to be legalized so basically it won’t happen now but maybe in the far future if ever the government will allow it.

[mOgliE]

Hi,

I really ike this idea, indeed, because it would mean that we have managed to get rid ok banks.

However, I see 2 main problems, preventing bitcoin from being used as a daily money:
1)  for the moment most shops don't have any infrastructure to manage bitcoin. I guess most owners do not even know about it
2)  the current volatility of bitcoin make it completely inaccurate for daily use

What do you think?

[XinXan]

Hi,

I really ike this idea, indeed, because it would mean that we have managed to get rid ok banks.

However, I see 2 main problems, preventing bitcoin from being used as a daily money:
1)  for the moment most shops don't have any infrastructure to manage bitcoin. I guess most owners do not even know about it
2)  the current volatility of bitcoin make it completely inaccurate for daily use

What do you think?

3. High fees
4. Slow transactions
5. No benefit for the shops
6. Still really hard to exchange bitcoins for usd/or any other currency

These problems are huge, hard to solve. Bitcoin is better used as a store of value than a currency. Let other currencies do that job.

[Prettyme]

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 can't see that cryptocurrency will be our daily fiat for many reasons and the number one reason is the unity of every country that they can make a cryptocurrency as our daily fiat. And also many people especially in the remote areas doesn't access cryptocurrency so meaning there is disorientation about cryptocurrency therefore it is hard to make it possible. And another is bitcoin must be recognized and accept by the government of different countries. It takes miles to make it possible.

[dogandogru]

While moving towards crypto from fiat one must understand that we are actually moving towards a decentralized society from a centralized society. It isn’t that easy to take up power from the hands of authorities. Even If we dream of a crypto world we don’t have any crypto currency ready to be used as a mainstream method of transactions. So I don’t think fiat is going to die a death anytime soon

[sobriket]

The only crypto that "could" probably be used to buy stuff or used as normal currency would be Tether, the other ones could be impossible to adapt because the volatility.
If you use tether, the price could be adapted to the price that the seller wants for the thing that he will sell.

[syaripudin]

I think bitcoin will become a fiat currency in general if the government is willing to legalize bitcoin as a currency that can be used to transact just like what has been imposed in japan countries that is where at present the Japanese government has made bitcoin as a virtual currency that can be used for transact. but I do not think it can be done quickly, of course, it takes a long time to realize bitcoin to the community. because not everyone can understand directly about bitcoin. need understanding that takes a long time.

[KenChanYu]

I think bitcoin will become a fiat currency in general if the government is willing to legalize bitcoin as a currency that can be used to transact just like what has been imposed in japan countries that is where at present the Japanese government has made bitcoin as a virtual currency that can be used for transact. but I do not think it can be done quickly, of course, it takes a long time to realize bitcoin to the community. because not everyone can understand directly about bitcoin. need understanding that takes a long time.

Well in my openion i dont believe that bitcoin can really become a fiat someday because cryptocurrency has its own path way and it is not really dpending or maybe sailed by the government itself .Unlike fiat our fiat has process to become a valid money every country has its own fiat and if we want crytocurrency to become our fiat maybe it will be hard to make it because we have a different fiat in every diff. Country.

[Lance70t]

Cryptocurrency concept, and blockchain, which is the technology associated with it, have been visualized to help bring a revolution in addressing a wide range of issues that a migrant might face away from home. We can now use cryptocurrency to exchange stocks, property, commodities, and even state-backed money. But if the whole point of cryptocurrency was to decentralize the financial system. Change in culture, lifestyles, currency, and technology, are important factors to consider in the process of migration. There is a need to create a system, where flexible transactions can take place within a country irrespective of the citizenship or the location of the migrant. Migrants from developing regions may move to more developed countries because of reasons like poverty, culture, political or economic circumstances, but mostly to move somewhere which provides a better quality of life. This change doesn’t come easy, as the migrant is expected to leave everything behind and move to a new location.  Cryptocurrency is a medium of exchange, such as the US dollar, but is digital, and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds. Digital currency doesn’t have limits across borders, and it needs no repetitive documentation or futile paperwork to provide a migrant with a flexible option of storing currency.

[pisston]

I think bitcoin will become a fiat currency in general if the government is willing to legalize bitcoin as a currency that can be used to transact just like what has been imposed in japan countries that is where at present the Japanese government has made bitcoin as a virtual currency that can be used for transact. but I do not think it can be done quickly, of course, it takes a long time to realize bitcoin to the community. because not everyone can understand directly about bitcoin. need understanding that takes a long time.

I have a dual opinion on this issue. First of all, for example, if Japan introduces the crypto currency not only to domestic, but also to the external market, these other countries will do the same for international trade. But on the other hand, I do not want the government because of my corruptness of the legalization of the crypto currency.