Bitcoin and Fiat - this is how I see the future

[Dimon8]

think paper fiat will very soon come out of circulation. Payment units will be a crypto currency.
The Swiss city of Zug is considered the capital of the crypto industry, in this city the official bitcoin unit. Switzerland has been one of the world's banking centers for decades. It seems that Switzerland will become the world center of crypto currencies.

[Rajamuda]

But anyway because each government of each country has different responses on crypto.. it hasn't ensured that it will indeed happen, it will be different. Unless there may be mutual consent from all countries that intend to accept crypto, it may be more inclined to a more positive side to advance the country and its citizens to prosperity and more modern.

[iram1011]

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 don't know if you have heard about privacy coins, but cryptocurrencies can be completely anonymous leaving government or state agencies with nothing to trace. Also, there are mixing services, which can make Bitcoin transactions almost untraceable. Government can really trace cryptocurrencies and their hodlers because we still need to convert crypto to fiat which requires bank details for any actual use because cryptocurrencies still lack adoption and utility. Government still can't trace anything going on in Darkweb and OTC trades. That is why countries are trying to regulate and it making it necessary for people to go through KYC. But they still can't control the decentralized form of monetary system, cryptocurrencies.

[Sled]

I see in the future that there will be a collaboration in terms of bitcoin and fiat because they can combine themselves so they will come up with a better product or result. Bitcoin is such a great type of currency and its idea can be adopted by the fiat currency and they will just merge and form a better mode of payment or financial system for the world.

[zhekinsp]

I see in the future that there will be a collaboration in terms of bitcoin and fiat because they can combine themselves so they will come up with a better product or result. Bitcoin is such a great type of currency and its idea can be adopted by the fiat currency and they will just merge and form a better mode of payment or financial system for the world.

No it will not be the combination od the crypto and fiat in equal colloboration,I think either one of it will replace the most of its rival.I hope that crypto currency will takes place a major part in money system but I don't think it will completely replace fiat which was in practice for too long.

[pallang]

I think paper fiat will stay and the world will also accept and legalized Bitcoin because it is becoming popular and lots of people are already using it some stores are already accepting bitcoin as their payments and found it easy and safe.

[bncbnc]

I think paper fiat will stay and the world will also accept and legalized Bitcoin because it is becoming popular and lots of people are already using it some stores are already accepting bitcoin as their payments and found it easy and safe.

Yes that is right that both will work together for a long time. In fact it is not so easy that all the people of the world will quit paper money at all and will start using bitcoin for everything for which they were using fiat currency, i think that it will take decades may be centuries, because still majority of people even do not have any idea about bitcoin and other crypto currencies.

[ngano ba]

I think paper fiat will stay and the world will also accept and legalized Bitcoin because it is becoming popular and lots of people are already using it some stores are already accepting bitcoin as their payments and found it easy and safe.

Yes that is right that both will work together for a long time. In fact it is not so easy that all the people of the world will quit paper money at all and will start using bitcoin for everything for which they were using fiat currency, i think that it will take decades may be centuries, because still majority of people even do not have any idea about bitcoin and other crypto currencies.

Even if the bitcoin will be popular today and in the future but the fiat is still going in its currency for a longer time and it is hard to eliminate or phase out fiat money because it can be still used in the rural areas of each countries in the world, but if bitcoin will be used as currency , I think we can considered that fiat and bitcoin will go along way as a purpose of currency and medium of exchanges in the future.

[yndye]

I think paper fiat will stay and the world will also accept and legalized Bitcoin because it is becoming popular and lots of people are already using it some stores are already accepting bitcoin as their payments and found it easy and safe.

I think fiat and cryptocurrency will co-exist because we are not yet ready for an all digital currency since there is a limitation when it comes to accessibility and technology especially in developing countries. It may happen sooner in developed countries since the highest number of cryptocurrency users are from those countries so they might implement the digital currency as their legal tender because it is easier for them to monitor it. As for other countries, they might yet to observed what will happen upon the full blast implementation of it and depending on the results will they implement it on their own country or not.

[realaccountakira]

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.

Very true for corrupt governments, most especially for those in third world countries that have less transparency and oversight over government finances. However, i disagree that cashless and cryptocurrencies would work well with governments unless the coin is developed with smart contracts that automatically charge a "taxation" fee for all transactions. The public nature of blockchains is actually a feature that could deter government money laundering and corruption.

[PerLasz]

I see fiat that it will be part of the human history. It will happen maybe 200years from now for fiat is use widely all over the world. Millions of fiat transactions happens in just  a moment. So if we some up in every single moment of time fiat travels from one place to another.

[tadung8790]

Cryptocurrency  is the currency of the future. Payment between entities becomes quicker and easier than ever. I think so

[Anthrlive]

That is the idea that a lot of people have for cryptocurrencies, but in my opinion the governments of many countries will not allow it. All they need is to outlaw cryptocurrency and make it very very hard for people to transact using the major cryptocurrencies. That's why I think that we should be looking for less ambitious projects to utilize blockchain until it becomes commonplace, and then try to replace fiat currency altogether. It will not happen overnight..

[neite99]

it may be the case but what if will the recent KYC requirements and other projects that aim to fully track the payments and the people who own the wallets become successful than we could be in full control.

[nikola22]

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.

[Vannie12]

Government and Cryptocurrencies are still in debate and I think there  are so much opinions about this now.

Personally, I think crypto concept is great. No third parties, online jobs, credits, benefits, convenience and other things. But with the services it provides, Do you think its fair to give no incentives? No right? We pay fees to the smallest fees that we can afford to make things happen.
I think the government can also provide us with good services. With access to everything, I think this tech will be successful and that is only possible if they will legalize it and help it be accepted through establishmments.

I know that corruption is never a new thing but hey, who said that citizens do not do such things too like benefiting from the government and abusing some of it.
It is just the same. We should not come clean and make the government responsible for everything.


No bias but we should see both sides.

I just think that if we do not help each other, this technology will come to a waste.

[Harrow30]

The anonymity is what the market in itself portrays with easy movement of funds without being traced to some extent. I do believe if carefully traced to the exchange site where the trade exchange takes place, the trader involved can be located.

[MiXxe]

think paper fiat will very soon come out of circulation. Payment units will be a crypto currency.
The Swiss city of Zug is considered the capital of the crypto industry, in this city the official bitcoin unit. Switzerland has been one of the world's banking centers for decades. It seems that Switzerland will become the world center of crypto currencies.

I just learned about this and it's quite interesting. Are cryptocurrencies legal in Switzerland? I think they should release to the worldwide news about their decision to support bitcoin or should I say the cryptocurrencies to encourage other governments and countries to do the same thing. 

[beej]

I personally think and believe existing fiat currencies everywhere won't go away, surely a lot
of tech savvy individuals and visionaries on the field dream and hope that crypto would somehow
replace paper money to make things easier and faster, even reliable to a certain point. But
Governments don't see that way, some nations support the existence and application of Bitcoins
on their economy but not to compete or potentially replace fiat by any means nor any time.
Both exists to fuel businesses and propagate monetary transactions providing people both
solutions and options. Both must coexist to make things a bit wider and convenient.

[weblouartisan]

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 own opinion, government will not be able to control the growth of cryptocurrency and they will not be placing taxes on it, if bitcoins will be manipulated by the government then there is a huge a chance for the price to decrease or die eventually because people will stop using bitcoins by that time.