Bitcoin and Fiat - this is how I see the future

[joshy23]

don't forget that government can trace your exchange cryptocurrency/fiat so you will have to pay taxes. and if you will work with cryptocurrencies only soon or later they will identify you.

Government can do anything while you are inside their jurisdictions, I personally thinks that crypto can go along side with Fiat as soon as many end users will make a good statement using crytpo from their everyday transactions, Fiat will still dominate the payment system while Bitcoin will help to lessen the delayed, keeping g the transaction anonymous but a friendly interface that everyone will enjoy.

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[Bessta]

Fiat will always rule as currency  and bitcoin will emerge as alternative fiat as it will lessen financial transactions which are expensive and slow. Bitcoin's fast and reliability would be an advantage that would keep it an alternative payment for the people and and in the business sector.

[validavi]

This is why most of the governments are already promoting digital payment options. But the question is that whether crypto can compete with other digital payment options.

[Gila uang]

Hopefully in the future this 2 types of currency become partner for better economy.

I think to stop money laundering they really change the currency across the country and declare that the use of digital payments will be appreciated. The results are pretty good and I think its worth to think that the government can control it the way they want it.
That's a good idea about bitcoin and fiat binding but there are some more questions that come up. I mean why would the government choose bitcoin for this purpose and why can not they go and set aside the money itself? So by stating that they will use only a digital form of payment? They can always do that and the same thing happens in a country like India.

[panfils]

Yes, it will  help the government to collect taxes properly. It is strange that why some countries still oppose this.

[MMA]

don't forget that government can trace your exchange cryptocurrency/fiat so you will have to pay taxes. and if you will work with cryptocurrencies only soon or later they will identify you.

Government can do anything while you are inside their jurisdictions, I personally thinks that crypto can go along side with Fiat as soon as many end users will make a good statement using crytpo from their everyday transactions, Fiat will still dominate the payment system while Bitcoin will help to lessen the delayed, keeping g the transaction anonymous but a friendly interface that everyone will enjoy.

That is because bitcoin is still very new and it will take a lot of time when bitcoin will become popular throughout the world. Fiat will be remain as the main payment system for a long time, but it is also true that the popularity of bitcoin will continue increasing so rapidly, and people will even like to use bitcoin in their everyday life.

[potatocorner]

Personally, I see the future without fiat money, but a full cashless settlement. The Internet currency is the currency of the future, there will be a word behind it.

That is impossible to happen. though we already have different crypto currencies around  and they are more known, fiat will never be removed from countries. We need it, and what are you saying is not necessary in this topic because what you said falls into another problem. It only says here thay bitcoin will be dominant over fiat because of what it can do in transactions.

[shield132]

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Goverment will never/ever be able to control some peoplr as they wish because somr people fight for freedom and those people sometimes are genius. For example satoshi's bitcoin made transactions anonymous and let people to do illegal things, yes. Others made proxy, vpn, pirate content and a lot.
Bitcoin is more prioritized because of it's chance of rise and opportunity of profit. On another hand monero does it's job along with fiat.

[senin]

Crypto currency will spread around the world, but its use will not have such a significant global significance, as some believe. It can only partially squeeze ordinary paper money. Full replacement of its crypto currency is possible only in some industrially developed centers with a high level of income of citizens. In most countries, the national paper money will go for a very long time along with the crypto currency. The Crypto currency will not have such a significant value, as many believe. In any case, it will still have to develop and determine its niche in our society for many years, and maybe decades. During this time, there will be various combinations of crypto currency and paper money, as well as other financial assets.

[Snaic]

I think that the crypto currency and fiat will be forced to exist together. I do not expect any big changes. Crypto currency will gradually enter into our life, but I do not expect any significant breakthrough in its application. In many respects, the situation will depend on how bitcoin will cope with it this year. The Crypto currency will not be able to replace all the usual paper money, it is still a utopia, moreover, this can never be done by a decentralized crypto currency. At some later stage, it will be possible to make a centralized national currency.

[LianaSie]

If I sell my car for cash, we still need a contract, so the government will now, how much cash I got. So not the best example, but see your point, they would prefer more transparency for sure, which crypto can not offer.

[bajingluncat]

making digital money as a currency in place of flat money is a good change many positive aspects can be taken even though there is still a weakness in terms of system and supervision but it all needs a long process and every process takes time but for now the role of money flats are still very dominant and banks are still in control of the economy so things we can do now only use flat money and digital side by side so that they can complement each other each deficiency but I am optimistic that time will come where the digital money into one currency and become a controlling economy around the world

[esatceza]

Right. I think the government can not control the digital currency but they can totally control the fiat currency. So what I wonder the most is how to explain it. However, they will most likely not pay attention to the small amount and not too big enough to attract attention. In addition, all funds are transferred from one person to another and no one seems to know and can control it.

[Osarman]

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Bitcoin will stay, and same as fiat, but Bitcoin is not going to replace fiat in anyway😏😏. Fiat is the main currency that we are using and Bitcoin wasn’t made for such purpose, neither were other cryptocurrencies. Bitcoin was just a way to make us stay anonymous and out of the control out of the government especially when making transactions. They have their own purpose of which they were meant for, and you can’t change that.

[margaret22]

We pay more and more often with our credit cards, but still, if we want something to be hidden, there is the option to just use cash. Don't see it will change any soon. Also not sure corrupt governments would like that change

[chailatte]

I think we can really see the relationship between the two worlds build once banks join the game.
The two HAS to co-exist for cryptocurrency to work. I don't think crypto can replace fiat.

[Kevin77]

don't forget that government can trace your exchange cryptocurrency/fiat so you will have to pay taxes. and if you will work with cryptocurrencies only soon or later they will identify you.

Government can do anything while you are inside their jurisdictions, I personally thinks that crypto can go along side with Fiat as soon as many end users will make a good statement using crytpo from their everyday transactions, Fiat will still dominate the payment system while Bitcoin will help to lessen the delayed, keeping g the transaction anonymous but a friendly interface that everyone will enjoy.

That is what I also feel will happen. I am sure government actually knows cryptocurrency has evolved more than they can easily handle and they will be trying everything in their power to regulate it so as to benefit from it, but at the same time without it affecting fiat.

Obviously, we all know there is no way this market will not get a bad name without some lenient regulations at least, but like you said, fiat even as we have it today will still be mostly used, and then we will have more of a co-existence between fiat and crypto.

[ceylan]

in my opinion ..  fiat will never be removed from countries. because We need it and also bitcoin will never die for sure.. it will stay same as fiat .. and i believe it has a great future

[Inikoo]

I agree with you, governments want to have control over everything, and would prefer more transparency. I would not mind it anyways, if cash would dissapear, caused less corruption.

[redsun114]

Yes, it will  help the government to collect taxes properly. It is strange that why some countries still oppose this.

This is the problem some countries are still against Bitcoin and have banned it. This is bad and this needs to be legalized. I hope in future there will be a time when the technology will be accepted and recognized by these countries and this will expand the technology and will enable people to earn easy money. Besides, they will be able to get some other services at low cost which is what all of us need.