Bitcoin and Fiat - this is how I see the future

[cynical]

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.

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[googs84]

Thats a good thought about the bitcoin and fiat tie up but there are again few more questions that arises. I mean why government will choose bitcoin for this purpose and why they cant just go and rule out the cash itself? So that by declaring that they will be using only digital forms of payments ? They can always do that and same thing is happening in country like India. Where to stop the money laundering they literally changed the currencies throughout the country and declared that use of digital payment will be rewarded. The results were pretty good and I guess its worth to think that government can control it the way they want.

[Reid]

Good thinking.
Using credit cards there will be traces of every payment you have made even with debit cards.
I dont believe about the privacy that was said by the banks. Yes another individual cannot look at your account but when it is the government they will give it.

That is the problem with all the governments. Theyhave the power to take something from us withh banks.
So better go with cash or crypto currency.
Very good.

[Kakmakr]

When you sell your car to someone, there will be a transfer of ownership to you and this will leave a paper trail for the IRS or whatever tax authority. When they audit you or if someone else report you to the tax authorities, you will have to explain your wealth to them and what you used to pay for that.

Governments and tax authorities have full control, no matter what you think. 

[buwaytress]

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.

Trust me, these primary reasons are a lot more secondary than you might think. It's not that governments want to control flow of currency because of money laundering, though those are quite useful and convincing arguments since the sentiment can be quite strong behind them. Governments will use security, safety, terrorist funding, money laundering, to scare you into believing that you can and should give up your rights for the greater good.

But yeah, you have a point. States see Bitcoin as an existential threat. And they should.

[Portia12]

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.

In my opinion, cryptocurrency will be widely used in the future because there are a lot of people today in the corporate world who are earning a small amount of salary and if they only knew about bitcoins then they switch on it immediately by trading in the market daily.

[Coffee135]

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.

Fiat will always exist. Cryptocurrencies can meet the needs of small scale. For the existence of the state it is necessary that the real sector of the economy. This is only possible with the help of Fiat. People who believe that cryptocurrencies can displace Fiat do not understand the basics of the economy.

[kive2k]

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.

[Kez1817]

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.

      How can people trade anonymously if there is a presence of government? If ever government has a full control on bitcoin and fiat money then it is now centralized. Government know our identity for every transaction we make or even in doing trading. Bitcoin is decentralized digital currency and government is centralized sector that has a full power over fiat money. So,in my opinion bitcoin and fiat will both work for the sake of government and for the better living of many people. It will both become important in our economy and i hope someday government will know it ,so that they will also give importance to bitcoin as decentralized currency like fiat money.

[JerryJam]

Fiat will always exist. It is impossible to imagine an economy without cash. Together with Fiat currency, digital currency is also a full-fledged means of payment. Each of the nos has its own advantages and disadvantages. But together they perform one function. The digital currency supports Fiat.

[kevoh]

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.

Sorry to disappoint you, you can hardly trade anonymously with bitcoin or any other non-privacy cryptocurrency. Bitcoin transactions leave trails that can be tracked by forensic investigators.

[taiwww]

To be frank we are here in the crypto currency and that’s why we always like to see our bitcoin or other crypto currency to take the place of fiat currency. Somehow we start to correlate bitcoin with all other type of ways to transact but that’s just not possible for bitcoin. At least not in today’s date when the crypto is in ambiguous use of real people in terms of laundering, scams, frauds etc. Governemnt will allow its use only when it’s really mandatory or upto the mark.

[syaripudin]

if the government has a goal to use in terms of transactions with bitcoin in order to make it easier to trace, I think it's too selfish for the government. because I think of course there will be more other things more positive that should be the goal for the government to legalize bitcoin and among them is to improve the economic system for all people who occupy a country.

[Freddie Aguiluz]

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.

I see the future of digital money as an option to everyone, yoy eitherbuse digital money of fiat money, because not all people wants to use digital money because of accessibility.

[hatshepsut93]

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.

Government's will not tolerate this for long, with cash there's an excuse that you can't digitize everything, but with cryptocurrencies it's the opposite, they are entirely digital and there are very few reasons why all governments haven't banned them already. For now, while adoption remains low, they don't pose any significant threat, and governments might think that they will die on their own, so there's no reason to get bad rep for banning them. But things will change when Bitcoin and other coins will get improved privacy, judging by how governments threat privacy-based coins now.

[FlightyPouch]

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.

I see the future of digital money as an option to everyone, yoy eitherbuse digital money of fiat money, because not all people wants to use digital money because of accessibility.

Well we are talking about the future here so I don't think that these accessibility will not be a problem though unless a certain country did not lift their ban on Bitcoin and digital currencies. I think in the future Bitcoin is more easier and more efficient to use, and I think in that time all of the Bitcoins are mined and being circulated on the internet.

[angel55]

The USD will start to lose value everyday while cryptocurrency gains more users.  Right now the total marketcap is a drop in the bucket. 300billion is nothing on global markets, expect 5 trillion + in a year or two.

[cynical]

Nice interesting posts.
Just to be clear i believe bitcoin or any other decentralised currency will not be used by any country.
What i believe is that each country wi have its own CONTROLLED crypto currency without metal and paper money, this controlled currency will still be regarded by me as fiat.

For those of us who dont want to place our trust fully in the hands of governments and banks we will still use decentralised currency - bitcoin! Governments wont be able to control that!

[udonmez]

The USD will start to lose value everyday while cryptocurrency gains more users.  Right now the total marketcap is a drop in the bucket. 300billion is nothing on global markets, expect 5 trillion + in a year or two.

I agree the point 300 is nothing but how you get a conclusion that usd is gonna start to lose value?

[vintages]

Being able to control the income, money and properties of the citizens is the main reason why most governments refuse to recognize or regard cryptocurrency most especially bitcoin as an online currency even though it made payment possible and less stressful for the users. Most governments are greedy and supremacy and wants to control every financial aspect of their citizens lives which seems unfair.