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Author Topic: Crypto replacing fiat?  (Read 6211 times)
pedangrusak
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December 30, 2018, 11:23:23 PM
 #1101

crypto is the eyes of the future and this is important to understand by many parties, but currently fiat will still be used in micro-payment activities that are not affordable to crypto because there are still many people who do not fully understand crypto

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December 30, 2018, 11:47:08 PM
 #1102

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.   

I guess this scenario is still too much in the future. It will probably be a progressive shifting of relevance, from fiat to crypto, but the crypto sector has still to ripe a real lot before being ready for such a mass adoption.

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December 30, 2018, 11:51:20 PM
 #1103

crypto is the eyes of the future and this is important to understand by many parties, but currently fiat will still be used in micro-payment activities that are not affordable to crypto because there are still many people who do not fully understand crypto

Certainly but the forthcoming technology of lightning payments will certainly prevail the micro-payment industries for good.
Will have to wait and see how that goes. Fiat might then be replaceable.


I guess this scenario is still too much in the future. It will probably be a progressive shifting of relevance, from fiat to crypto, but the crypto sector has still to ripe a real lot before being ready for such a mass adoption.

Yeah, mostly in terms of handling micro-transactions. For example paying five bucks in a coffee shop and not pay $5 extra in transaction fee or wait for more than 10 minutes to confirm.

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December 31, 2018, 05:25:50 AM
 #1104

I mean it's not impossible, and I think that with technology evolving at a fast pace so does cryptocurrency and the whole market, blockchain will definitely become much stronger and secure in the next decade or so, and it is possible that crypto will be able to replace fiat if the government finds out the advantages of crypto and how it could benefit the economy.
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December 31, 2018, 06:48:18 AM
 #1105

I mean it's not impossible, and I think that with technology evolving at a fast pace so does cryptocurrency and the whole market, blockchain will definitely become much stronger and secure in the next decade or so, and it is possible that crypto will be able to replace fiat if the government finds out the advantages of crypto and how it could benefit the economy.
yes, even though the development that you mean is happening, I think it will still be difficult for bitcoin, or other cryptocurrency to replace fiat money, because basically each country has different fiat money, and also different prices.

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December 31, 2018, 06:54:52 AM
 #1106

I mean it's not impossible, and I think that with technology evolving at a fast pace so does cryptocurrency and the whole market, blockchain will definitely become much stronger and secure in the next decade or so, and it is possible that crypto will be able to replace fiat if the government finds out the advantages of crypto and how it could benefit the economy.
yes, even though the development that you mean is happening, I think it will still be difficult for bitcoin, or other cryptocurrency to replace fiat money, because basically each country has different fiat money, and also different prices.
on the other hand paper currency is familiar to all circles, of course the lower class will be more difficult to keep up with the latest technological developments, so the government must also pay attention to this, usually things like this occur in countries that have not developed, so it is still difficult to replace fiat currencies

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December 31, 2018, 07:27:11 AM
 #1107

I mean it's not impossible, and I think that with technology evolving at a fast pace so does cryptocurrency and the whole market, blockchain will definitely become much stronger and secure in the next decade or so, and it is possible that crypto will be able to replace fiat if the government finds out the advantages of crypto and how it could benefit the economy.
yes, even though the development that you mean is happening, I think it will still be difficult for bitcoin, or other cryptocurrency to replace fiat money, because basically each country has different fiat money, and also different prices.
on the other hand paper currency is familiar to all circles, of course the lower class will be more difficult to keep up with the latest technological developments, so the government must also pay attention to this, usually things like this occur in countries that have not developed, so it is still difficult to replace fiat currencies
technology developtment need hard progress ,and also not all of people will effected of its developtment.we will see unfair condition in each improvement.its happen not only on crypto , but almost all field has same condition with this.it hard and need long time to realize.

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December 31, 2018, 06:14:38 PM
 #1108

it could happen because along with the times and technology that will grow very rapidly but of course it needs a process and a long and difficult time of course

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January 08, 2019, 08:44:21 AM
 #1109

it could happen because along with the times and technology that will grow very rapidly but of course it needs a process and a long and difficult time of course

I think that fiat will not be able to completely disappear even in the distant future. Many people love to diversify their funds and they will still hold some of the money in the form of paper money.   

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January 08, 2019, 08:59:10 AM
 #1110

At this point I’m down to just a saving account but all my crypto does get converted to fiat right away. I think it’s a symbiosis
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January 08, 2019, 09:19:52 AM
 #1111

it could happen because along with the times and technology that will grow very rapidly but of course it needs a process and a long and difficult time of course

I think that fiat will not be able to completely disappear even in the distant future. Many people love to diversify their funds and they will still hold some of the money in the form of paper money.   

fiat money or local money isnt really an investment imo and you cant say that you will diversify your funds with fiats because i think that is unsual .  fiats are currency and not an assets  while crypto are the real asset and can also be used as a currency at the same time  therfor they are more apropriate when you say diversifying your investment  . meanwhile , i dont also think that fiats can replace cryptos because fiats will be the one that is more easier to use compared to any other e currencies as they are more complex  .

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January 08, 2019, 09:29:50 AM
 #1112

I mean it's not impossible, and I think that with technology evolving at a fast pace so does cryptocurrency and the whole market, blockchain will definitely become much stronger and secure in the next decade or so, and it is possible that crypto will be able to replace fiat if the government finds out the advantages of crypto and how it could benefit the economy.
Yes it is not impossible to replace fiat with cryptocurrency but mind you that fiat will not be totally remove as a medium of exchange. Think of how many years has passed with the use of fiat money and until now it is still being used effectively on making big and small transactions. Let us just say that cryptocurrency will be added to as an option or means of payment or exchange.

crypto is the eyes of the future and this is important to understand by many parties, but currently fiat will still be used in micro-payment activities that are not affordable to crypto because there are still many people who do not fully understand crypto
Yes, it is but for now we will just be positive that cryptocurrency system will be adapted to all countries around the world so that it will be easier for the system to integrate with other system like payment system.

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January 08, 2019, 01:17:42 PM
 #1113

it could happen because along with the times and technology that will grow very rapidly but of course it needs a process and a long and difficult time of course

I think that fiat will not be able to completely disappear even in the distant future. Many people love to diversify their funds and they will still hold some of the money in the form of paper money.   
I agree with you that Fiat will continue to exist but it is side by side with cryptocurrency and I think it will be better than replaced fiat.
I will also do things that I will definitely save some fiat.

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January 08, 2019, 01:59:48 PM
 #1114

impossible, because until now crypto has not been approved and it is difficult for crypto to be approved and used as a means of payment.

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January 08, 2019, 02:09:52 PM
 #1115

For now Fiat pose more value to users than crypto, because of usability till DAPPS start becoming more used daily by regular populace than you can talk of replacing for now crypto is just an asset you trade smartly

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January 08, 2019, 02:50:02 PM
 #1116

For now Fiat pose more value to users than crypto, because of usability till DAPPS start becoming more used daily by regular populace than you can talk of replacing for now crypto is just an asset you trade smartly
right, the fact that we are facing today, crypto is more used as a tool to make money. Moreover, in 2017 Bitcoin reached its peak, so many people were suddenly rich at that time. but after the climax, many people were disappointed because until now it had not returned like that year. and this is one reason why the government still maintains fiat currency for daily life

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January 08, 2019, 03:05:43 PM
 #1117

impossible, because until now crypto has not been approved and it is difficult for crypto to be approved and used as a means of payment.

Impossible is nothing!
All the revolutionary innovations didn't take place in the society very fast. It is needed time in order to be established in the real world. The new generation has already embraced the idea of crypto transactions as they can think of their benefits. However, there is still a huge portion of people who doesn't believe in crypto. We are gonna change their opinion but it needs time to do it.

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January 08, 2019, 03:16:32 PM
 #1118

impossible, because until now crypto has not been approved and it is difficult for crypto to be approved and used as a means of payment.
It not something that its impossible mate and you cant use the current status of crypto market to judge what will happen in the nearest future because the world is drifting from technology to new one. However, the IMF is supporting crypto market and her statement was what leads to alot of countries are planning to create their own national crypto currency. Besides, alot of advanced countries adviced their citizen to make use of credit card and POS terminal for day to day, through this crypto currencies will definitely take over.

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andieoke
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January 08, 2019, 03:27:12 PM
 #1119

In my opinion it will be difficult to realize it perfectly, although there are some countries that will later use digital currency as a means of their transactions but it will not be fully, surely they will still use paper currency. Bitcoin and Cryptocurrency do have advantages over paper currencies, but unfortunately not everyone can understand this.

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January 08, 2019, 06:05:48 PM
 #1120

I mean it's not impossible, and I think that with technology evolving at a fast pace so does cryptocurrency and the whole market, blockchain will definitely become much stronger and secure in the next decade or so, and it is possible that crypto will be able to replace fiat if the government finds out the advantages of crypto and how it could benefit the economy.
Cryptocurrency can never replace the usual currency of the state. I think that in general no state will ever give up their national money in favor of cryptocurrency. While on our planet there will be many different states with conflicting interests, they will always use their national money. This is the key to the success of their economic development. It is very dangerous for the economy of any state to switch to the use of a foreign currency or "neutral cryptocurrency". Therefore, there is talk of replacing national money with a cryptocurrency, nothing more than an imagination of people who have little knowledge of economics.

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