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Author Topic: Crypto replacing fiat?  (Read 63453 times)
Janation
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December 15, 2018, 10:37:06 AM
 #1061

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

I am agree, many government still ban and prohibit cryptocurrency. If crypto replacing fiat, its hard to measure economic growth. I think fiat money still needed in our economic system because its need long time for people understand about cryptocurrency

They don't need a long tine really.

There are a lot of people that understands what Bitcoin is and what it can do. To be honest, it only takes a short period of time for people to understand it since it is not that hard to understand. The only problem is that the government thinks that they know better and they think that it will really be a bad thing for their people the reason they are banning them.
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December 15, 2018, 02:17:41 PM
 #1062

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

One day things will change and crypto will take over the fiat currency. Nothing is permanent and forever in this world. Sooner or later, this transformation of currency will happen and then new generation will only use crypto currencies and Fiat will be just a history.

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December 15, 2018, 02:37:03 PM
 #1063

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

One day things will change and crypto will take over the fiat currency. Nothing is permanent and forever in this world. Sooner or later, this transformation of currency will happen and then new generation will only use crypto currencies and Fiat will be just a history.

Well it is true that nothing is permanent but we all know that it is not that easy to replace something that is in there for a long time of period, fiats are obviously one of them. You can't take out fiats that easily since there are a lot of people that are used in using them. That day might come but I don't know if I am or you are still alive at that time.

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December 16, 2018, 12:30:39 AM
 #1064

Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.   


As for me, there would be lots of things to consider before having crypto in replacement of fiat. We all know that most of the countries are clueless about crypto. We should consider informing people about it first before they adapt it. Fiat is still the most common way of transacting these days.

If government regulate bitcoin, i am believe many people will find an information about it. Most government wont regulate bitcoin because they wont lose control on money supply
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December 16, 2018, 01:16:18 AM
 #1065

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

One day things will change and crypto will take over the fiat currency. Nothing is permanent and forever in this world. Sooner or later, this transformation of currency will happen and then new generation will only use crypto currencies and Fiat will be just a history.

Well it is true that nothing is permanent but we all know that it is not that easy to replace something that is in there for a long time of period, fiats are obviously one of them. You can't take out fiats that easily since there are a lot of people that are used in using them. That day might come but I don't know if I am or you are still alive at that time.
maybe the next generation will experience it, because it really takes a long time to replace it. but for now we can only profit from it, and exchange it for fiat to make ends meet
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December 16, 2018, 02:15:37 AM
 #1066

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course
Everything is possible in this world - try it. For crypto to replace fiat will take a good number of years for this to be achieved because cryptocurrency does not allow any central authoritative body like the governments to have absolute control over the transactions. Also it will demand every part of the world to have internet source and access in order to realize this goal of crypto hitting the mainstream adoption where fiat will be irrelevant.

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December 16, 2018, 03:04:44 AM
 #1067

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

One day things will change and crypto will take over the fiat currency. Nothing is permanent and forever in this world. Sooner or later, this transformation of currency will happen and then new generation will only use crypto currencies and Fiat will be just a history.
although that will happen, I think, there are still so many shortcomings that cryptocurrency has, because the price is very unstable. when bitcoin replaces money, of course the price of goods will rise and fall rapidly, if you use cryptocurrency as a standard and substitute for fiat.

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December 16, 2018, 07:36:44 AM
 #1068

I do not think that Cryptocurrency can ever replace Fiat currency.
Because both Cryptocurrency and fiat has different functions, so Cryptocurrency cannot function well as fiat.
It's a decentralized virtual currency while fiat is paper money.

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December 18, 2018, 09:46:01 AM
 #1069

I wonder how much time has to pass to introduce this idea to real life.

Tens years, my friend. However, IF even it happens, people will return soon to use traditional money as well. Simply cash is very convenient, and no Internet connection is required.
Well I would say that It can be possible only when the demand for fiat diminishes by the common man and that will happen only when the crypto reaches everyone which has not been able to happen so far. So I doubt it would even happen in the decades to come.
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December 18, 2018, 04:58:47 PM
 #1070

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

Men, who seriously think that fiat can be so easily replaced by the cryptocurrencies, make the greatest mistake. They do not guess that most people are conservative by their nature.
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December 18, 2018, 05:04:20 PM
 #1071

I do not see the crypto replacing the cryptocurrency even though we are heading to a cashless society. The fiat currency can co-exist with the cryptocurrency as there is currently over 2000 cryptocurrency. They all have their uses and your choice to use
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December 21, 2018, 12:00:31 PM
 #1072

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

We do not know anything about our future. Probably, the writers of science fiction were right, and robots will replace some people in the future. If it happens, the cryptocurrency can also replace fiat.
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December 21, 2018, 02:56:28 PM
 #1073

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

We do not know anything about our future. Probably, the writers of science fiction were right, and robots will replace some people in the future. If it happens, the cryptocurrency can also replace fiat.
All possibilities are very large indeed. we cannot give an opinion whether it is true or not but from what is now that all is progressing and it is not impossible to happen
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December 21, 2018, 03:03:04 PM
 #1074

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.

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December 21, 2018, 03:18:08 PM
 #1075

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.
well, many things need to be considered in this matter. although cryptocurrency shows a rapid development, but I don't think it can ever replace fiat, even if it can, it will be very difficult. we know that crypto prices are very unstable. although fiat is also unstable, however, it happens for a long time, while crypto occurs in a short time.

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Wellyan
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December 21, 2018, 03:28:00 PM
 #1076

Until now, I think crypto will not be able to replace Fiat. because fiat is very identical with the country. so even though crypto continues, fiat will not be replaced.
yvesp110
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December 21, 2018, 07:47:11 PM
 #1077

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

We do not know anything about our future. Probably, the writers of science fiction were right, and robots will replace some people in the future. If it happens, the cryptocurrency can also replace fiat.
Your thinking does not make any sense to me because at some place you are not agree to consider the value of bitcoin and on the other hand you are comparing robots to human. So this is totally double statement. According to me crypto currency is our future and it will not take much time to become more valuable than fiat.
cafechino
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December 22, 2018, 06:06:43 AM
 #1078

Yes definitely crypto will replace the fiat because crypto is already used in many platform and using in many payment methods...and used in many mnc
 companies...
slocker
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December 22, 2018, 08:09:21 AM
 #1079

For this to be in motion of happening need to know few thing. First no matter now much I / You / He / She wants this it will not happen. For this to be in good position of using crypto and replacing completely monetary system for FIAT this is something that need to be placed. Biggest is for all cryptos to have fixed price and to be honest this is not possible in any scenario or possibility or something else. Why who would want to see price of bitcoin for example fixed on 5000 dollars for example. So this options is dead from start. Other can be creating some unique coin that will be for all transaction but again must be fixed in exchange for BTC ETH LTC or something else. This can be done but most countries will have there own exchange rate or something unique so this option can be also go in the watter.

So what then. Can it be done sure it can will they want to do it. Off course not. Think in this we have more problems rather then solution so this is really something to consider brainstorming for possible good and working solution.
ConotCan
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December 22, 2018, 10:23:59 AM
 #1080

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.
I think if the states will come to enter in this field then it will not be hard for the crypto to replace the fiat. Right now it is hard because the states are supporting their fiat and for the ordinary people it is impossible to compete these states.
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