Is cryptocurrency ever going to replace Fiat?

[utlptc]

There is a big opportunity to replace fiat but that will need some more 10 years at least and a lot of correction in cryptocurrency. As Govt. is not willing to accept cryptocurrency in a good way, replacing fiat will be one of the hardest for the cryptocurrency.

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[Turkish88]

FIAT dont be replaced by cryptos.
If digital moneys can replace fiat, they happened when developed first card system like visa mastercard.
And fiat is most untrcable, nobody register your name when you shop

[NeuroticFish]

Fiat as we know it will not be replaced by the crypto currencies like Bitcoin.

~but~

Fiat is money for which the government decides (more or less directly) its value. Crypto is easy to build up and handle.

Just look at Venezuela. Centralized, government backed crypto is cheaper than bills and doesn't require expensive 3rd party (like Visa, WU..) and it's not unlikely to see in a not so far future such crypto coins become the new generation of fiat.

[toonwer]

Cryptocurrency is the next phase in the money evolution. Eventually all fiat money will be replaced by cryptocurrency. It's cheaper, easier for tracking and blocking if algorithm allows. Dream of any government.

[Treasurer]

Many people don’t have the Internet, others don’t know how to use new technologies, and still others - the elderly, who don’t see well and don’t understand well in order to use such complex technologies as the blockchain. How will such people use cryptocurrencies and who will refund their funds if they forget / lose their wallet address or steal money from them? I don’t think that cryptocurrencies will force out Fiat, but they can exist with it at the same time.

[stiffbud]

It is very far for cryptocurrencies to replace fiat currency, this is because , cryptocurrencies are not fully recognized and accepted worldwide , so cryptocurrencies will be only used to high develop places with abundance of internet access.

I don't think so that cryptocurrency will ever replace fiat. I mean it could be possible but in near future that thing doesn't happen. Their are a lot of consequences behind this. First of all crypto-currencies is not accept worldwide, it still ban in many country and it is still it doesn't fully legal. Another reason behind is cryptocurrency are highly volatile in nature and because of this it price fluctuate time to time and this thing ultimately affects the global economy. And cryptocurrency complex nature is one of the main reasons behind this topic.

[Lilmon]

I hope so, every day I use more cryptos for my daily operations, I only use fiat for day to day business and to pay for services, but there are more and more locals accepting cryptos and if the price remains stable as now, I do not think we have any problem in continuing to push the adoption en masse.

[EvgeniyBH]

If necessary, the cryptocurrency with ease in a relatively short time will be able to force out fiat money. It is possible that this option is considered among others.

[aencarnaci]

Do you remember pizza for 10000 btc and silk road. It was a beginning off goods/crypto exchange and crypto became a mean of payment. Everything in your hands, popularize crypto and you will see that in a few years people forget about fiat.

Do not deceive yourself mate as I believe there is no one who will end up forgetting fiat for anything at all as it is not everyone in the whole world that will basically have access to the crypto space due to one limitation or the other, and even for those who are in this space now, even with real life usage, there would still always be that occasion when fiat will be needed, and in that case, I believe what we will eventually see would be fiat and crypto space going hand in hand, and all those things about cryptocurrency replacing fiat, is something that does not sound plausible.

No, I don't think so. We truly need both of them and we should not forget that fiat currency is part of a country sovereignty which will not be easy to take away from any country unless we all come together for one world digital currency.

We will always need both of them. This has been mentioned several times on this forum and plenty of reasons given as to why cryptocurrency will not be replacing fiat. Asides from the fact that government will find a way to limit it based on the fact that it is a decentralized space, we will still get to see the avenue in which not everyone will be knowledgeable enough to be able to easily utilize the space to their own advantage, so at the end, it would just be some faction of people using fiat and some using cryptocurrency.

[Sadyshagg]

Cryptocurrency is forever changing. I can't wait to see what Bitcoin has to offer in the future.

[queennathalia]

Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.

No, Of course we still need fiat (cash) because the cryptocurrency is only a medium exchange to be a digital currency our cash. So what if all the money or fiat are gone? Where we can change our money? The other will answer my question "Of course in the exchange site" My point is what if our grandmother or grandfather doesn't know about the crypto? For example, Grandfa I will give you 50ETH so you can buy any want now. And grandfa said "What is 50ETH? Is that a new form of money?" How do we explain to them?

[Pline]

I don't really think so, crypto won't replace fiat at all,but can replace a small part of transactions. This is how I see it.
Gradually increase of crypto transactions and probably like 20% of fiat transactions will be replaced

[Nggedebus]

Of course it can, i think it already happening today, as people choosing to make a payment using debit or credit card, that thing is similar to cryptocurrency.
But the implementation seems to be still waiting for the people to fully understand and trust the cryptocurrency.

[DikkieD]

I may very well replace fiat in the distant future. Not 100% any time soon though, I suspect a lot has to happen still, and we are just at the earliest beginning. But, gaining this much attraction from big companies, banks and other financial institutes, governments and average joe's is very promising .

[amaydel]

Satoshi Nakamoto once wrote on his historic white paper about his vision on his peer-to-peer electronic currency system in the name of bitcoin. Yes, bitcoin has become successful in some part of its vision but it can't also be denied that bitcoin has drawbacks too that can be a hindrance to replace fiat.

[Dimm_bounty13]

Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.

This is only one side of the problem. There're many other difficulties, e.g. many projects have no usable interface, so to transfer money a user must have tech.skills, which is very hard and unclear for most people!

[tterrorpipa]

Still the fiat lives, because we need also a physical money and also a digital money which is a cryptocurrency. We need both of this currencies on our daily lives. Because not like all the stores right now are accepting cryptocurrencies as their mode of payment upon their products.

[inwas797]

It should take a lot of time for this to happen because now there is a very big confrontation between banks and crypto-currencies.In the future, when the financial literacy of the population increases and the Internet becomes available everywhere,then you can expect that the cryptocurrency will replace Fiat.

[karthcrypt]

This is a popular question that have been argued back and forth!  Will cryotocurrency ever going to replace fiat? My answer to this question is that credit card partially did and I don't see why cryptocurency can not!

[kier010]

i think no. crypto is very unstable compared to fiat. why not think that both crypto and fiat can coexist. why do they want crypto to replace fiat.