Cryptocurrency as our Fiat

[paul00]

Honestly, making crypto currency as a fiat is not a bad idea but have this as the sole currency that exist in the country is not yet that possible. I think crytp currencies has a lot more to build and establish before it will happen but if crypto currencies would be another option for us to pay our liabilities and buy some assets, then it will be more possible and easier to accept.

[1714285879]

1714285879

[1714285879]

1714285879

[1714285879]

1714285879

[1714285879]

1714285879

[1714285879]

1714285879

[galestorm]

I dont think that's possible and for a number of reasons why. First is that cryptocurrency's value is ever changing, flactuating from time to time which is definitely going to be a problem for the economy considering that the government will constantly adjust expenses and taxes just to balance things out. Second is that the majority of the country's population arent aware of what cryptocurrencies are and the only solution for that is to teach cryptocurrencies in schools at an early age. The third reason why cryptocurrencies cant possibly be our fiat is that not all of the people within the society are exposed to technology and that cryptocurrencies are only limited to those who are able to gain access in the net.

[MkGregor]

It would be amazing, but the price of at least one crypto should somehow stabilize for this to happen. No trader will accept on the daily basis something fluctuating 20% from day to day.

[kimochidesh]

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?

With such a crazy high transaction fee and delay confirmation time....Considering BTC as FIAT is just a nightmare. Lets understand it one example...after buying essentials from a local grocery store worth $10000 and want to pay through BTC but this transaction will cost me $200-250 which is crazy. So using BTC as FIAt now is not practically feasible at this point of time.

[lienfaye]

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?

With such a crazy high transaction fee and delay confirmation time....Considering BTC as FIAT is just a nightmare. Lets understand it one example...after buying essentials from a local grocery store worth $10000 and want to pay through BTC but this transaction will cost me $200-250 which is crazy. So using BTC as FIAt now is not practically feasible at this point of time.

Indeed, thats one of the disadvantages of bitcoin nowadays having a high transaction fee is not a joke. Currently btc as fiat is not possible especially in our country, most people cant handle to use crypto due to their status, you need to be atleast aware of what btc is and know how to use gadgets to access it and unfortunately they cant pass with that basic rules. It can be use together with fiat but cant surpass it as replacement.

[Tenderino]

As the economy in the developed countries is artificially created and highly rely on the money printing system, I can not see how crypto currencies can become our daily fiat. Governments might will start introducing their own crypto currency one day, but this will de still some kind of a currency to rob the people and not comparable with the independent crypto currencies.

[athanz88]

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?

Okay, in my opinion, it wont be happen in anytime soon, although it is a dream of all people who use cryptocurrency right now. There are so many things that make that as my opinion, such as :
1. The price of cryptocurrency is volatile, especially bitcoin. It is hard to make a price product if the price of the currency changing so fast.
2. The transaction fees is high for now.
3. The transaction is not fast right now.
4. Not all people have internet access, or pc, or notebook, or smartphone.
5. Some company forfeited their bitcoin payment system in recent times.
6. Imagine if all the bitcoin is lost because the owner dead or because other reason. it cant be recoverable, and the number of bitcoin is limited.

Now to think of it, I guess the better option is that cryptocurrency as a secondary fiat and the "real" fiat as the main. Everything is based on the "real" fiat like price of a product etc, but cryptocurrency can be used as a payment anywhere.

[TheUltraElite]

First of all cryptocurrency and fiat are not based on the same ideology. Though the reason for which it was created may be same in some places but not exhaustively. Crypto economy is based on transparency and privacy while fiat is controlled by money hungry corrupt governments.

But I understand the OP wants people to consider crypto as main currency. That may be a bit longshot because the fraction of world economy in crypto is very small and the majority is fiat anyways.

[Wittycoin]

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 think cryptocurrencies will really change the fiat money because on how the world evolve, just imagine,  in the primitive times people are not using fiat money but they are using bronze, silver, and gold as currency but as times past by,  the currency have change to fiat money or paper money,  so I think someday Bitcoin or cryptos someday will change the fiat. 

[Greon]

The biggest problem with Bitcoin at the moment is that it is not yet solved in mainstream adoption. One study pegged the number of active crypto users to between 2.9 and 5.8 million. Pundi X proposes a solution to add one billion users to the cryptocurrency movement by adding two missing key elements to provide significant adoption by the primary user.

[Goodsamaritan]

Fiat money means a currency issued by the government, now for a cryptocurrency to be a fiat the government should issue their own because they could not control the other due to the reason that they are not the one who controlled it.

[Hamphser]

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?

Depends on situation because if you do talk about cryptocurrency then there are lots which it would really be confusing if we do talk regarding on having a main cryptocurrency which is bitcoin then it cant be happening because government wont really allow such thing to happen because they cant able to control cryptocurrency since most of them is decentralized.Unless if they would decide convert fiat to their own centralized e-currency then its possible but for crypto then it wont really be possible.

[Hamstead]

It's a long way for that time, since bitcoin and other forms of cryptocurrency isn't yet supported by the government worldwide. It would be possible to happen only once cryptocurrency will be fully established and the acceptance of the community will be at least 90% of the entire population. Though it is a big challenge but then, their is a big chances for that in the coming years.

[Glorious04]

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. Some makes it their daily bread. They depend yheir daily expenses in bitcoin. For sure will all know that there are those jobless fellow who are more free financially than the employed ones and it is all because of bitcoin. Some joins the bounty campaigns and get paid in bitcoin and they encash everyweek for their regular expenses.

[shesheboy]

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?

you know cryptocurency is now part of our daily life but if your saying that if bitcoin could replace the fiat someday? then i guess it would not happen because that will be verry hard for most of the people especially on poorer countries and uneducated people to use crypto. yet crypto will always be an alternative currency next to fiats because crypto can still do amazing things that fiats cant do like for example crypto can be used online and also it can be used on a different purpose not just on buying but also in mining, trading, investing, etc..

[Brunus Januensis]

The full bitcoin concept is to NOT be a fiat, as it's based on mathematics and not on trust.

[Sorliand]

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?

Some Cryptocurrency hard to replace our daily fiat like bitcoin. if bitcoin survive some altcoin will replace our daily fiat.

we will use bitcoin for investment and ether for buying and Ribble for daily

[nl247]

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 think cryptocurrencies will really change the fiat money because on how the world evolve, just imagine,  in the primitive times people are not using fiat money but they are using bronze, silver, and gold as currency but as times past by,  the currency have change to fiat money or paper money,  so I think someday Bitcoin or cryptos someday will change the fiat.  

What you have forgotten is that some of those things you are referring to as old currencies like gold, silver etc, are still being used today as currency even though not hugely. This shows that in the long run, there is still a huge possibility to see fiats being used even if cryptocurrency start becoming something highly usable. However, I still believe that so many things will change though with the usage of cryptocurrency as it will become widely used globally but to what extent is what no one can really say for now.

[Gringoblin67]

Cryptos being unregulated, this can never happen as governments would definitely lose their power and control.

[AnonBitCoiner]

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?

With such a crazy high transaction fee and delay confirmation time....Considering BTC as FIAT is just a nightmare. Lets understand it one example...after buying essentials from a local grocery store worth $10000 and want to pay through BTC but this transaction will cost me $200-250 which is crazy. So using BTC as FIAt now is not practically feasible at this point of time.

I was very happy to hear that. I had my half of savings in bitcoin only,so if it happens it was good.When the Crypto currency became a FIAT, the transaction fees also reduced.Now the transaction of bitcoin is some how low,it may be the reason for this high transcation fee.We can hope this will reduce some how in future.