Bitcoin and Fiat - this is how I see the future

[Xenophoto]

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.

Even though you can trade anonymously with bitcoin the government can always ask you about the source of your wealth.
Some institutions are even demanding the proof of transactions before one wants to buy a home, for example.
Their logic sounds like "isn't it weird that a homeless rapidly got so much money allowing him to buy real estate?".
So complete independence from the state is impossible, even with crypto

Easy. Find an institution that doesn't demand any of that. There really is no point in looking for proof of transactions since the money could have been the sum of a family's savings. For example, 5 siblings saved up money in order to buy a house and then gave it to their mother. The mother will have no way of giving proof of transactions since the money was simply handed over to her. Money can't be made out of thin air. Even the money that came from the mafias were once created by the government. There really is no point. Someone can spend millions of money but still not be questioned since money can simply be given to you by anyone without any transaction going on. Not every money people have were because they sold something or worked for it.

Another alternative is to make someone who has a good job to purchase the thing for you and then later on transfer the title to you. It's as easy as that so looking for proof of transactions is quite useless.

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[BitcoinCommodor]

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.

I can see my future in bitcoin and flat . The rrason why I am motivated in working hard is the bitcoin and flat . I want to earn a lot of it so that I an afford my future wants.

Bitcoin as well as fiat both are the necessary currencies that we need in our life in different places on different occasions. We need Bitcoin for investment as well as for fast transaction with low cost besides which banks can also use it for example for paying loans they can use Bitcoin. On the other hand we cannot ignore the fiat currency as we are watching and observing everything needs it so we need both.

[BigBos]

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.

I can see my future in bitcoin and flat . The rrason why I am motivated in working hard is the bitcoin and flat . I want to earn a lot of it so that I an afford my future wants.

Bitcoin as well as fiat both are the necessary currencies that we need in our life in different places on different occasions. We need Bitcoin for investment as well as for fast transaction with low cost besides which banks can also use it for example for paying loans they can use Bitcoin. On the other hand we cannot ignore the fiat currency as we are watching and observing everything needs it so we need both.

well, even I also think that bitcoin and fiat will support each other. of course people need fiat to buy bitcoin, and crypto users need bitcoin to exchange into fiat so that it can be used in their respective countries.

[wendiar19]

I think bitcoin and fiat currency will use a lot of it and of course they will not be harmed which means that it depends on the people who want to use fiat currency or digital currency to make transactions.

[Bunsomjelican]

In my point of view, Bitcoin can possibly replace the fiat someday. Like for example in the other country which they had decided to regulate Bitcoin legally to their own territory place and that is Japan, India and more. This is shows that Bitcoin has a big future waiting ahead someday, where the prediction of many particularly the bitcoin experts that bitcoin will become the world currency.

[DAVETUN]

In the near future, bitcoin will become a global currency to be accepted and legalize globally, Bitcoin will birth altcoin for every country to be use along with there fiat mainly for online and inter countries transaction, with Bitcoin the use of fiat will be secluded to the developing countries and villages because of lack of internet facility.

[Impulseboy]

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.

I agree. If the government wants, they can simply eradicate fiat and just start using bitcoin.

I am curious to know more about the event that took place in India, though. How did the public accept the change of currencies and how long did it take for them to adjust? Do you think that it will be the same for everyone else? That people will easily adapt to it, should the government declared the end of fiat and the start of digital currency?

[randegibran]

in my opinion, fiat currency will continue to exist, because fiat money is managed by the government, and crypto will be used a lot in the future even though it's small but I'm sure every development

[normanz]

Fiat currency will still be used in the future because fiat is a national currency with government support. And for bitcoin it can also be used for certain transactions, but I think bitcoin will be used as an investment asset.

[Menawi12]

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.

If government want to collect more taxes, they should regulate cryptocurrency. With cryptocurrency growing, if can used in merchant, i am believe more transaction in merchant using crypto. Government should not afraid crypto used for money laundering because blockchain is transparant system

[ufaiz50]

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.

Have you forgotten about blockchain technology and the first reason why there is bitcoin, bitcoin is a cryptocurrency that originally intended to avoid large costs only for transactions, here bitcoin transactions are carried out in P2P way where there is no third person as an intermediary. Although I feel your idea is not too bad to invite the government to work together using blockchain technology, and sometimes in some countries the government is seen in the eyes of the public and loses trust.

[KorakPawon]

I agree with you opinion. I think government (in some countries which banned bitcoin ad other crypto) has finally learned something. Basically government clearly wants to take control of any transaction, especially for something that influenced economical movement in the country, the reason is tax. crypto is illegal since it cannot be traced, while the system is good though to be adopted, so of course they create system similarly to crypto where the transaction or the system along with it can be controlled by them.

[SkvorNyc777]

I think that crypto is capable of replacing fiat one day...but this day actually is sooo far from our times, crypto is younger than 10 years, it should grow mature at first.

[Gabali126]

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.

People have already started moving away from cash transaction to digital and cryptocurrency whereas the real future cryptocurrency boom is yet to come. Surely, the society will prefer using cryptocurrency as it will support their anonymous transactions.

[barabarian1]

yes, I'm sure everything you say can definitely happen in the future. we all know that technological developments in this world are increasingly sophisticated. and almost everyone uses technology and the internet. I think this will make the government increasingly think that they can use blockchain technology for their benefit. and in my opinion in the end the cryptocurrency and fiat currency will run together for transaction activities that are used by everyone.

[patarfweefwee]

That is true. The government could have a hand in all this. I mean they would want to have as much control to the currency as possible in order to manipulate the market and even yes allow criminal activities. But if blockchain technologies are put in place, i think transactions will be so transparent that governments wouldn't like it.

[Snaic]

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.

No, you are wrong in many ways. The existing financial system in the states is well regulated and quite suits the current governments. On the contrary, the introduction of cryptocurrency is not profitable for them, because it is the decentralized cryptocurrency that they cannot control. They can allow the circulation of cryptocurrency on their territory, but they will not actively support it.
Governments will never give up their national money.

[Dr.Osh]

That is true. The government could have a hand in all this. I mean they would want to have as much control to the currency as possible in order to manipulate the market and even yes allow criminal activities. But if blockchain technologies are put in place, i think transactions will be so transparent that governments wouldn't like it.

actually I don't see that bitcoin, or other altcoins will replace fiat. however, I began to think that the technology possessed by cryptocurrency would be the thing that supports the development of fiat transactions on the internet in the future.

[cc80aa]

   It is a good news for bitcoin society to tie up the two currency in opposite generation so bitcoin is the future currency tie up by the obsolete currency a fiat money. this situation is a embrace bitcoin to emerging two currency to can accelerate the new currency with the attachment of the people to can study the applicable of the new currency  for the future generation.

[gabmen]

That is true. The government could have a hand in all this. I mean they would want to have as much control to the currency as possible in order to manipulate the market and even yes allow criminal activities. But if blockchain technologies are put in place, i think transactions will be so transparent that governments wouldn't like it.

actually I don't see that bitcoin, or other altcoins will replace fiat. however, I began to think that the technology possessed by cryptocurrency would be the thing that supports the development of fiat transactions on the internet in the future.

Well the technology that runs crypto right now doesn't really sit well with something that's greatly controlled by a sole government. Blockchain gives control back to the people, one thing that banks wouldn't want to let go of. But i can't see as well how crypto can be suppressed so it seems both will be available in the future with people deciding which is better for them.