Bitcoin and Fiat - this is how I see the future

[ernoo]

I like to use credit card, and could get used to live without cash easily But most governments are corrupt, I think they would miss cash.

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[green_fish]

Bitcoin is a digital cryptocurrency. Its issuance and transfer are decentralized and are not controlled by one person or an organization, but the entire bitcoin system works perfectly. So everyone trusts Bitcoin, and it won’t be bad.

[HeatherAdams00]

Governments in some countries have decided that the risks of virtual currency are too large for the benefits it can provide.
China has banned the bitcoin deal completely in 2017, after which the South Korean government has also announced plans to ban similar transactions. This is a very influential decision because Korea contributes more than 20% of the worldwide bitcoin trade and is the world's third-largest virtual currency market, behind Japan and the United States.
Despite such difficulties, virtual money is likely to become an important tool, especially as blockchain technology is growing stronger. The CME recently announced that it will begin trading in future bitcoin contracts to limit the price volatility of bitcoin.

[gorodi]

I think that fiat (paper money) will coexist with the cryptocurrencies. There will be still many people that will never understand the crypto, expecially from poor counties.

[Vektrum]

An interesting point of view. To consider that the decentralized crypto currency is more monitored from the financial point of view by the state than cash. It can not be like this. The main reason why different countries do not want to legalize the crypto currency is precisely the impossibility of controlling cash flows, including controlling the financial side of their citizens' activities.

[Kertmu]

Fiat is more stable, which is necessary in business activities, and Bitcoin can only be used as a speculative commodity for the time being.

Bitcoin is not a commodity - it is an object of investment, so its value is not stable, with its help they receive a considerable income.

[nightways]

Bitcoin could not challenge Fiat, and no country would give up its fiat to support Bitcoin, which would be a foolish government.

It is too early to say any such thing as things keep on changing with time and that it cannot happen that we will be able to see fiat leading the world for the whole of the time. The way these crypto currencies are making such a great impact amongst the people gives us enough hope that these crypto currencies are having a strong potential to lead the world and that they will surely do that one day.

[wqiwi212jsjs@jj]

But I think that the balance of currency and BTC is unlikely. Please note that the government and tax authorities will exercise full control.

[Sled]

Bitcoin could not challenge Fiat, and no country would give up its fiat to support Bitcoin, which would be a foolish government.

It is too early to say any such thing as things keep on changing with time and that it cannot happen that we will be able to see fiat leading the world for the whole of the time. The way these crypto currencies are making such a great impact amongst the people gives us enough hope that these crypto currencies are having a strong potential to lead the world and that they will surely do that one day.

The cryptocurrencies can only lead the economic side of the world and not the world as in overall because most of the cryptocurrencies are decentralized and it doesn't mean that it can lead the world because how can a team of developers or the team behind the coin can lead the world, it will just become a help for the world to be better but not totally lead it.

[JACKSW4G]

Yes, I also recognise that as the most logic and the most possible option how their cryptocurrency will be developing in the future, because replacing the existing system is an utopia for now.

[KocaEfe]

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.

Yes, you are absolutely right that non-cash money is fully controlled by the government. In addition, the State does not need to print a lot of money when the Society is completely immersed in debts and loans to banks. In a crypto society, there will be a slightly different system of economy that will not allow society to become poor. Example you Decenturion

[cryptocurrencyguru]

in the coming future, we will see more centralized cryptocurrency like Iran government is launching their own coin and Venezuela  also creating

[samsung001sss]

Bitcoin will not be able to replace Fiat system. Bitcoin can only change the digital economy or the economy of non-cash payments. All non-cash transactions with currency, can all go to the crypto-currency economy.

[bohr]

Fiat is more stable, which is necessary in business activities, and Bitcoin can only be used as a speculative commodity for the time being.

The instability of bitcoin is there because the market cap of bitcoin is still very low compared to all the money in the world, but as bitcoin becomes bigger then its volatility is slowly reducing as well, once bitcoin reaches full maturity its price movements should be a lot more similar to the movements of fiat currencies, it is going to take some time for that to happen but I am convinced we will see that behavior from bitcoin some day.

[Vektrum]

In the near future, paper money will be replaced. It will quickly supplant them as a means of payment. Possible candidate for this place is bitcoin or another crypto currency.

Crypto currency will never replace fiat, as if someone did not want it. States can not allow the transition to the use of any money that will not be tightly tied to their economy. This is the law of the functioning of money. Without such a binding, the economy of the state will collapse at once. Crypto currency can go in the state only in parallel with the national money of the state.

[Sarastiche]

Bitcoin is sure here to cause and initiate the real cashless policy advocated globally, sure we will still have fiat in all countries, but I foresee a state where fiat will complement the existence of  BTC and Altcoin, as transaction can be wit ease using Bitcoin compare to fiat

[Blackrain13]

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.

     If government control bitcoin and other decentralized digital assets we cannot trade anonymously because government can trace now your funds and wealth. They will regulate digital currency and make some rules that we need to follow. Like un fiat money,government does not allow everyone to hold a big amount of money just in their house,they need to put in into a bank in where they can trace how much wealth do you owned. If you will not obey government rules then they will accuse you and put some legal punishment. That's why much better to have a decentralized digital currency which free from government andbno single authority controlled it.

[jayyen]

Yes you are nor far from right because the change is fast approaching all over the world at a threatening speed,soon the whole world will come to the knowledge of cryptocurrency due to ease of use ,fast and convenience. This will put cryptocurrency in the forefront of all financial transactions worldwide.

[ValeriegNhf]

My friends and I have become more and more fond of bitcoin, because in my country fiat is depreciating every day, and constant inflation will make people hold it as little as possible in the future.

[jiryuksan]

Yes you are nor far from right because the change is fast approaching all over the world at a threatening speed,soon the whole world will come to the knowledge of cryptocurrency due to ease of use ,fast and convenience. This will put cryptocurrency in the forefront of all financial transactions worldwide.

Bitcoin is the future currency that I believe in.

But not for now. Because now people are still easier to use fiat currency. However, for the future, bitcoin can be compared to paper money, especially for large and inter-country transactions because it is easier, faster, and more convenient. If I see the future of bitcoin as more ideal as an investment, because the amount of bitcoin has a maximum limit if the amount has reached the limit, the bitcoin price is predicted to be high and stable. This is only a prediction, the time that will answer.