Bitcoin and Fiat - this is how I see the future

[Getcoinsite]

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.

This is a good point talking about why governments going against crypto when they can have a piece of cake from us,the only problem is they dont do rightful manner instead pursuing us to comply on their policies thats been harder to attain.

Im calling those countries that clarify their wantings and do specific actions for the betterment of both parties as they wont gain anything if they continue banning this community

[1714005880]

1714005880

[manfredmann]

The government are only after the awareness of people doing cryptocurrency and that is why local exchange which government allow to operate giving them license to do so in a way that the local exchange must agree on KYC. This is only to avoid and prevent those individuals who are doing illegal activities doing transactions using cryptocurrency. So we have to follow so as for the good of the many.

[dongyi17]

Bitcoin and fiat combine... it depends because as we all know this is two different system and some government and banks do not accept bitcoin because it might cause their down fall but can use fiat but still if their agree to do so why not because many are still using fiat and it would be hard to abolish it.

[p i e c e]

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 do not think that in future, people will not use fiat. I can guess that in 5-7 years almost everybody will deal with the crypto and traditional money.

[shackleford]

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.

Personally, I do not see how Fiat money will work in parallel with bitcoin and alternative cryptocurrencies. The economic side of cryptocurrencies, in a couple of years will show the world its effectiveness.

[Faeton]

The state is just not interested in using decentralized crypto currency by people, because it is precisely that it is poorly controlled and, moreover, it has great volatility, which has a bad effect on the economy. Therefore, decentralized crypto currency is able to walk in the state only in parallel with national money.
Paper national money the state has learned to control. In the example specified by you, the purchase and sale of a car is made by notary or authorized bodies, which at the time of making a transaction simultaneously deduct a portion of the money and send it to the tax authorities.

[wewe123]

Bitcoin is soaring high to become future currency surpassing the fiat money, but the thing is bitcoin can mainly be used to places where there are abundant supply of power and no interruption of internet access, but for rural areas with no internet access ,fiat money play vital role in finances because bitcoin is only on line, so I see fiat and bitcoin will go through.

[veleten]

it may be difficult for the government to track transactions on crypto and control our money, because this is a digital era that is difficult to trace.

the most common misconception
it will be and is MUCH easier to track digital transactions compared to fiat money
cryptocurrencies are PSEUDO anonymous,not anonymous and all of the current developments
aka tightening KYC rules,fighting privacy,new european rules on exchanges and wallets,Japan cracking down on exchanges etc.
https://news.bitcoin.com/japan-penalizes-crypto-exchanges-yakuza-involvement-confirmed/

this is all done to transfer all of your transaction into digital sphere,ousting fiat paper money
making it easier to track,analyse and watch you,switching your life on and off at will,potentially
if you thought Sci-fi fiction about the future societies was just funny stories.think again

[Dimon888]

I believe that the cash turnover on a global scale will be reduced and go into non-cash settlements, and a certain percentage of payments will be in the crypto currency. Over time, it is possible that each state will have its own crypto currency. But then it will already be controlled by the state.

[rainezerr401]

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.

yes you are right, cryptocurrency might reign even more in the future but fiat will be just in the corner because not every people in the world can manage to earn cryptocurrency so people will be still using fiat in the future.

[StImelda]

Governments are already seeing the loopholes and that they will lose some benefits such as those you mentioned,that is why they are trying to control cryptos by the various legislation being made.Eventually,crypto will triumph because people will actually prefer it.

[poplolnman]

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.

A cashless society might could happened in smaller scale , it's like impossible to get adopted by common people , required a long longtime ... To completely throw away fiat and replaced by Bitcoin or any other crypto . There's a lot of small step running to support crypto usage in our daily life , for example fanchain who have a vision to change the way a sports fan support their favorite teams to get rewarded by this token , ripple that engage conventional banks and many more! All of these pushing the cashless society to happen, yet it's sure cost a very long time.

[richardsNY]

not every people in the world can manage to earn cryptocurrency so people will be still using fiat in the future.

The world is changing rapidly. There are more and more businesses where employees can choose to get a part or even everything of their salary paid out in Bitcoin. I personally wouldn't go as far as completely accepting Bitcoin as salary, but I am open for a 10% monthly Bitcoin payment. In most cases I buy Bitcoin on a monthly basis already, so it would only make things more convenient for me. It would directly stimulate people to start spending their coins since it's less likely to be considered an investment. I definitely would spend them where possible....

[acheampong64]

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 also think so. I think what governments are trying ti do is to create a system that will make both cryptos and fiat coexist. I'm not sure they will allow crypto to overtake fiat fiat fully, they will allow coexistence so that they can get tax on ot as you said. Also some governments perceive their currency to be the best and so they won't succumb to a new currency to take over.

[XinXan]

not every people in the world can manage to earn cryptocurrency so people will be still using fiat in the future.

The world is changing rapidly. There are more and more businesses where employees can choose to get a part or even everything of their salary paid out in Bitcoin. I personally wouldn't go as far as completely accepting Bitcoin as salary, but I am open for a 10% monthly Bitcoin payment. In most cases I buy Bitcoin on a monthly basis already, so it would only make things more convenient for me. It would directly stimulate people to start spending their coins since it's less likely to be considered an investment. I definitely would spend them where possible....

But most people cannot afford to get paid in Bitcoin, not even 10% They are not traders, they also don't know about the market, getting paid in bitcoin and then watching the price crash is certainly not anyone's pleasure.

[kinamotorami]

In my opinion, BTC will never be able to replace fiat, because now if the BTC is put into the transaction and into daily life, the government will have to invest in technology and human resources to serve. so the cost is quite high.

[1Referee]

But most people cannot afford to get paid in Bitcoin, not even 10% They are not traders, they also don't know about the market, getting paid in bitcoin and then watching the price crash is certainly not anyone's pleasure.

It's optional, it's not forced upon you. If you think it's not smart to ditch fiat then you simply don't.

To add; no one will just blindly accept getting a chunk of his wage paid in Bitcoin. Those that go for this option know what they do and know what risks they expose themselves to, which is why they only stick to a lower percentage. These people don't have any direct use for that lower percentage and accept that the fluctuations might push the price lower.

The only situation where it's not optional is when you work for services generating revenue solely in crypto, but still, you're not forced to work for any of them.

[Freddie Aguiluz]

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.

I see a future that has a lot of scammers and hackers. If the future holds a digital world having a digital money, then the theif will be digital too just to robb some one's money in an easy way.

[BartS]

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.

The war on cash has been ongoing for sometime and you are right governments want to eliminate cash with the excuse of eliminating drug transactions that are made on cash but their real goal is to get tax evaders and to have a greater degree of control over the economy, and they are going to try to do the same with bitcoin with all of their regulations but they do not understand this is never going to work because unlike cash they have no control of bitcoin at all.

[XinXan]

But most people cannot afford to get paid in Bitcoin, not even 10% They are not traders, they also don't know about the market, getting paid in bitcoin and then watching the price crash is certainly not anyone's pleasure.

It's optional, it's not forced upon you. If you think it's not smart to ditch fiat then you simply don't.

To add; no one will just blindly accept getting a chunk of his wage paid in Bitcoin. Those that go for this option know what they do and know what risks they expose themselves to, which is why they only stick to a lower percentage. These people don't have any direct use for that lower percentage and accept that the fluctuations might push the price lower.

The only situation where it's not optional is when you work for services generating revenue solely in crypto, but still, you're not forced to work for any of them.

Im just saying its something too complicated for the average joe. Also your boss would probably not want to pay you in bitcoins either. Bitcoin is not seen as a currency anymore so we should really focus on that instead of trying to make businesses and people adopt it.