Bitcoin and Fiat - this is how I see the future

[Violettochka]

I think that fiat and crypto can and will exist together. They are both very important to our economics and to financial health of people. I don't understand why people want fiat to die.

[signaturecoin]

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.

Bitcoin and some other crypto are outperforming fiat but to be completely replace it is very difficult. I believe that in the future the world will accept it more easily than it is now when the cryptocurrency market is overwhelmed.

[BitcoinMarketer39]

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.

Bitcoins will be always part of our life since there are a lot of people today who are interested on investing in it and fiat will be still here and wont be remove because not everyone is capable of earning cryptocurrency.

[kidoseagle0312]

For now cryptocurrency  really trend all over the world, but still Fiat is much more prevailing than crypto. Which means, Fiat will exist as long as the government declare it as a useful thing to all citizens in the entire world. Even, though some are saying that Bitcoin could possibly has a potentials to become a world currency, but still just speculation at the moment.

[Gotomoon]

I think that fiat and crypto can and will exist together. They are both very important to our economics and to financial health of people. I don't understand why people want fiat to die.

This is what I see in the near future both btc and fiat would be on top and existing. People will still love to use fiat for the reason's some cannot adopt this blockchain technology. We cannot force others to use btc so btc and fiat would still exists.

[umrohyuk]

It has a great for future, it seem as the way to be better for our next generation. It can helps the, financially, people should see the advatages and huge potential of crypto currency. It can be an alternative way to earn living.

[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.

The technology is growing faster and that is the reason currencies are going from cash to digital since most of the people wants to have faster transactions rather than the casual transaction like using a physical cash.

[spongegar]

That is a very pessimistic view of the government albeit accurate to a point. I think it's more like the banks themselves are putting pressure on the government or the government themselves have a vested interest in keeping crypto currency as unstable as possible. Lastly, fiat will stay longer than we want it to be since it's not possible right now to have a sole crypto currency world.

[Charlessy]

For now cryptocurrency  really trend all over the world, but still Fiat is much more prevailing than crypto. Which means, Fiat will exist as long as the government declare it as a useful thing to all citizens in the entire world. Even, though some are saying that Bitcoin could possibly has a potentials to become a world currency, but still just speculation at the moment.

I look for the future in a few decades bitcoin might be equated with fiat money, the difference is that fiat money is physical while bitcoin has no physical. The function is the same, namely as a payment instrument. People are given a choice, can use bitcoin or with fiat money for payment. If that happens, I prefer to use bitcoin.

[amiramakam]

governments aim to control our money it will leave a big opening for bitcoin and other decentralized cryptos to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure. by that, they will tax Bitcoin easier, Transactions valued at $ 600 or more will be taxed as a regular asset. These transactions include Bitcoin payments, Bitcoin investment income and Bitcoin revenue generated from the computer. If you pay employees by Bitcoin, the company will also have to pay federal income tax on this amount.

[kidsrock]

That is a very pessimistic view of the government albeit accurate to a point. I think it's more like the banks themselves are putting pressure on the government or the government themselves have a vested interest in keeping crypto currency as unstable as possible. Lastly, fiat will stay longer than we want it to be since it's not possible right now to have a sole crypto currency world.

I think fiat can stay longer like you said, as long as fiat still available on all country and people still use fiat to buy something. the crypto especially bitcoin will stay with us too and I think the crypto can help us to solve the problem about financial. I hope that in the future, bitcoin and fiat can work together and can help people to make a better life.

[robotrobert]

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

Everyone knows it that fiat is connected with us as we are living under government which provides us a comfortable life. This life is now more comfortable with the crypto currencies especially with the Bitcoin which make things friction-less. These two are making life easy and we need both in different occasions or you can say occasional need requires these two.

[darkr]

It will be two currencies that will complement each other.

Not the currencies but the types of money. Fiat will be used wider but with the crypto you will earn more traditional dollars or Euros. Thus, they will live together.

[Argoo]

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.

In fact, not everything is as simple as it seems at first glance. Only transactions between citizens can remain secret from the state. However, the purchase, exchange and sale of crypto-currency in other cases may be known to the state and then it through the crypto-currency will be able to control the financial activity of citizens. Under these operations, the state will force people to leave their data and our anonymity will practically disappear.

[jimmyd178]

Government will never respect your privacy when the need something. The simple reason why bitcoin and fiat will not have that friendly relationship is as a result of privacy and control which government is known for. we need ICOs to begin to get practical enough to address challenge gaps rather than struggling to get to exchange. What mfchain is doing is a good one. We will soon witness crypto being used as currency rather than hodling for profit. 

[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.

In fact, not everything is as simple as it seems at first glance. Only transactions between citizens can remain secret from the state. However, the purchase, exchange and sale of crypto-currency in other cases may be known to the state and then it through the crypto-currency will be able to control the financial activity of citizens. Under these operations, the state will force people to leave their data and our anonymity will practically disappear.

But that will only happen if you use centralized exchanges, at some point decentralized exchanges are going to become a reality and are going to allow us to exchange our coins, that way you will avoid that possibility that you are bringing and then when the adoption of bitcoin finally happens and people begin to sell products directly for bitcoin any regulation is going to be ineffective.

[ucingucingan]

I look more at bitcoin as the future of the world economy, because bitcoin is a transaction that uses blockchain technology to make it easier for users to transact anywhere and anytime without the amount, distance and time limit and incurred excessive transaction costs even close to zero ( 0) aka free, besides that in terms of security it is also very maximal and the transaction is transparent so that it can be seen by anyone of course this will prevent acts of corruption

[cahbagus555]

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.

Digital money different with bitcoin. Bitcoin is decentralized and digital money still controlled by central banks and government. Government still can collect from bitcoin transaction because every goods we bought already attached taxes like VAT.
I am seeing in the future, government regulate bitcoin and bitcoin growing more bigger, and we can spend it on any merchant in the world

[dr_chen]

For governments, there is a system that is currently established and the laws were regulated and the collect of taxes and the follow up of money is regulated regularly. Therefore, governments do not want to accept crypto currencies yet.

[SirLancelot]

It will be two currencies that will complement each other.

Not the currencies but the types of money. Fiat will be used wider but with the crypto you will earn more traditional dollars or Euros. Thus, they will live together.

I think there will be a harmony between Bitcoin (cryptocurrency) and fiat. Cryptocurrency will not be able to completely eradicate the existence of fiat. But the technology will spread obviously so people would have two choices. One to keep a portion of their income in the form of Bitcoin or any coin and to hold the rest in the form of fiat.

This will be good as well because for precautionary purposes, you need instant transaction and Bitcoin does offer instant transaction but not everywhere across the world.