Bitcoin and Fiat - this is how I see the future

[Bonpay]

If we truly want mass adoption for Bitcoin, we have to wait for about 20 years. Why? Because of old people who have money stored in fiat all over the world.

Let's stop talking about better technology, anonymity, security and all other things. The majority of people in the world don't even care how Visa or Mastercard work. Let's talk about usefulness and trustfulness.

Older people would hardly accept cryptocurrencies as payment because they got used to cash and fiat digital currencies. Nowadays the majority of people over 60 y.o. in the world have big problems with using Paypal, banking cards and other things for payment in everyday life especially online. They are fine to withdraw cash at ATM or to pay at the retailers' terminals but they are hardly using cards online.

They stored their pension savings, they don't care much about technology, they have problems with using tech and they would never convert their life savings to some hard to understand Bitcoin. Let me remind you that those people are the ones who have money. Young people care about tech but they don't have money.

So the situation we have now looked this way: Bitcoin is adopted by a younger generation who don't have money on the one side and the older generation who don't care about tech but have money on the other side.

Thus, if we are talking about real mass adoption, we have to wait for about 20 years while older people naturally pass away and the current young generation will generate enough position to use Bitcoin.

That's just an idea to be discussed.

[rosemary4u]

The future will catch up with fiat currency when people will appreciate digital currency such as bitcoin more than the fiat currency we have around. I believe digital currency and fiat currency can coexist in any economy in the world.

[Vivaseteleri]

I think the government has been preparing for this to happen knowing that cryptocurrency is already inevitable in the market.Fiat currency is still in demand today by majority since only  few of the countries have legalized the use of bitcoin.

[Rellbellerise]

The price is such a steal deal for people who are looking for this kind of opportunity to get some bitcoin. Bitcoin is such a great investment and it is far way better than choosing other investment since bitcoin is more likely to go up and give more profits than the others.

[deisik]

If we truly want mass adoption for Bitcoin, we have to wait for about 20 years. Why? Because of old people who have money stored in fiat all over the world.

Let's stop talking about better technology, anonymity, security and all other things. The majority of people in the world don't even care how Visa or Mastercard work. Let's talk about usefulness and trustfulness.

To build trust Bitcoin needs to stop being so volatile, but how can it be done if it is volatile specifically because people en masse don't trust it? I'm not speaking of the forum members obviously and our likes, I mean people who are not interested in cryptocurrencies just for the crypto aspect of it. I beforehand agree with what you are going to say, that trusting fiat (instead of Bitcoin) is a mistake, a big mistake at that. It is a mistake but try to explain that thing to all these people who honestly believe what their governments are telling them. But without these people wholeheartedly accepting Bitcoin (instead of fiat), the future for it looks pretty grim

It will remain a vehicle for speculation and a tool for shady Internet payments

[Silberman]

In the way you think, authoritarian countries won't have any cryptocurrency that could be used eligible?
Government won't allow us (citizens) to use cryptocurrency, to buy smth in supermarket and pay crypto for that. There will be a very huge war between government, or we should change todays government (usually 50+y.o. people that will never understand cryptocurrency) to young generation.

I think that something like a war against cryptocurrencies is going to happen but governments are going to lose and the reason is simple, how are they going to regulate a market that was designed specifically to avoid regulation? How are they going to avoid that people use it when they have no control over it? When it comes to their fiat they have complete control and so you have to comply but when it comes to bitcoin they cannot control the network.

[marine4u]

I think the government has been preparing for this to happen knowing that cryptocurrency is already inevitable in the market.Fiat currency is still in demand today by majority since only  few of the countries have legalized the use of bitcoin.

When Bitcoin and the cryptocurrency market decline, people can say anything about it without thinking. I believe that this market will grow strongly and not stop here, investors should have their own judgment to have the most appropriate investment direction.

[Finatu]

The future will catch up with fiat currency when people will appreciate digital currency such as bitcoin more than the fiat currency we have around. I believe digital currency and fiat currency can coexist in any economy in the world.

In the next decade digital currencies are increasingly being used for transactions and investments. However, replacing fiat money is clearly not possible, because for digital currency applications, fast and stable internet technology is needed. Until now not all countries have that technology. As an alternative, bitcoin payments provide added value that benefits all parties because it is faster and cheaper.

[hawkins]

I think the government has been preparing for this to happen knowing that cryptocurrency is already inevitable in the market.Fiat currency is still in demand today by majority since only  few of the countries have legalized the use of bitcoin.

When Bitcoin and the cryptocurrency market decline, people can say anything about it without thinking. I believe that this market will grow strongly and not stop here, investors should have their own judgment to have the most appropriate investment direction.

I think bitcoin and fiat in the real world will collide with each other. I think, people will be more interested in using bitcoin than Fiat. however, on the internet, with a system from bitcoin, of course the value of a fiat can increase.

[fatnobo]

I think the future would be stable prices which are not influenced too greatly by external factors (news etc.). Maybe something like gold prices which move over the long term to combat inflation yet be a safe source to store money.

[Masongrae]

For now i see crypto and fiat go together as technology also improves, but later on in future (though i don’t know how many years) I think it will only be digital currency no more fiat. Cryptocurrencies not bitcoin only.

[tailwate07]

The future will catch up with fiat currency when people will appreciate digital currency such as bitcoin more than the fiat currency we have around. I believe digital currency and fiat currency can coexist in any economy in the world.

That is right, we have a great future of both fiat and crypto especially the Bitcoin which are great though the value of Bitcoin is more than that of fiat but we are observing the existence of both fiat and Bitcoin in many countries especially in European countries. Fiat help us out which is not hidden from us while the Bitcoin has shown its greatness in this short time.

[Kolder]

The future will catch up with fiat currency when people will appreciate digital currency such as bitcoin more than the fiat currency we have around. I believe digital currency and fiat currency can coexist in any economy in the world.

That is right, we have a great future of both fiat and crypto especially the Bitcoin which are great though the value of Bitcoin is more than that of fiat but we are observing the existence of both fiat and Bitcoin in many countries especially in European countries. Fiat help us out which is not hidden from us while the Bitcoin has shown its greatness in this short time.

Bitcoin will be a good substitute in payments terms especially if cash weren't available on us in a specific time. Its good to see that bitcoin is being know by many establishments now that it gains many uses at all.

[doolittle]

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.

Good idea!
I think the Fiat system is beneficial to the government. She can write these debt papers (wrappers) as much as she wants. Let them into circulation, and cashless way to pick them up. Thus it turns out the cycle of money. Money laundering definitely occurs in non-cash and digital form, there is no doubt about it.

[carlisle1]

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 what my stand also that bitcoin and all cryptocurrency together with fiats will serve the whole world in terms of financial and transactions.

Bitcoin can’t support the whole universe because of its limited access that needs internet.while the fiat will act even without this but slower since it is physical so if they work togethr everything will become better and good

[erikoy]

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.

Maybe there is bitcoin in the future and at the same time there is also some.other crypto in the future. As we all know that there are many good crypto too in the market so we shoulf consider those crypto in fact they are already claiming that they will going tp surpass bitcoin when it comes to market price movement or coinmarket cap volume. Yet there is no crypto for now that has the capability of doing it.

[KrisAlex18]

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.

Since that is what's currently happening, we can say that there is a large percentage that it would be what the future look like. We need to wait first and see if fiat will stick with bitcoin and bitcoin with fiat. Maybe someday bitcoin will dominate fiat and replace but it would take up a long time for sure before that thing happens.

[Silberman]

I think the government has been preparing for this to happen knowing that cryptocurrency is already inevitable in the market.Fiat currency is still in demand today by majority since only  few of the countries have legalized the use of bitcoin.

When Bitcoin and the cryptocurrency market decline, people can say anything about it without thinking. I believe that this market will grow strongly and not stop here, investors should have their own judgment to have the most appropriate investment direction.

When the market goes down people get very negative about the market and there are several reasons for this, one is that bitcoin moves down very rapidly if you see the traditional markets you will see that they do not move at the speed at which bitcoin moves, and the second reason is that many people that are investing in this market do not really have any kind of knowledge about trading, investing or the economy so they do not know what they're talking about.

[brukva]

I also think that bitcoin and fiat must exist together.

[Girlsbit]

It will be two currencies that will complement each other.