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Author Topic: Crypto replacing fiat?  (Read 5454 times)
Vaculin
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July 29, 2018, 11:21:28 PM
 #161

It will take many years for cryptocurrency to take the place of fiat, in my opinion. But in a shorter time, the use of cryptocurrency will increase greatly, and anyone with a mobile phone will be able to use cryptocurrency  with ease.
Right.There are still chances that crypto will replace fiat currency but that time is still uncertain.So let's not make it a big deal.What important is that cryptos are already conquering some countries and made it legalized already.Hopefully it will be legalized also the use of cryptos in my own country.


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July 29, 2018, 11:25:27 PM
 #162

I think it will not replace fiat for quite long time. i could not imagine my grandfather handling crypto. so still there is a lot of work to do to ease the whole process for everyone! How do you want to make children pay for stuff? Will there be prepaid crypto cards? But in the future I think when the developers find solution for all these little things, then yes one day crypto could really replace fiat. i dont know if in 10, 20 or 50 years?
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July 29, 2018, 11:32:06 PM
 #163

It will take many years for cryptocurrency to take the place of fiat, in my opinion. But in a shorter time, the use of cryptocurrency will increase greatly, and anyone with a mobile phone will be able to use cryptocurrency  with ease.
Right.There are still chances that crypto will replace fiat currency but that time is still uncertain.So let's not make it a big deal.What important is that cryptos are already conquering some countries and made it legalized already.Hopefully it will be legalized also the use of cryptos in my own country.
I don't find any reason that assure the replacing of the fiat with cryptocurrency. In some countries cryptocurrency usage has been provided with the legalizing. This doesn't mean that those people are using cryptocurrency as primary transaction source. Till date everywhere the conquering of the fiat usage haven't happened as a mainstream usage. Further the same thing will continue, bitcoin will serve as an alternate to the fiat usage on need.

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July 30, 2018, 03:34:33 AM
 #164

All must have a transition period, a very simple example of an investment. First, they have gold, gems ... then they move to real estate, then to the present is Crypto, there will be another thing for them to move money through.


Nothing is impossible, Crypto and fiat are the same destination no one can replace anyone
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July 30, 2018, 04:03:03 AM
 #165

No one can force you to send your crypto but they can possibly track you with help of the ISP providers maybe ? But Crypto is definitely a safety net for controlling your own wealth and having a hedge against the collapse of the fiat system.
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July 30, 2018, 11:05:13 AM
 #166

I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
I don't think so that in near future such thing can happen. Bitcoin is a virtual currency and many people still  doesn't believe on this. Bitcoin is not a global currency. It is not accept worldwide. In many country it is ban because of its decentralised nature and association with criminal activities. Because of above reason i don't think so it can replace fiat currency. Another reason is its volatility because of this its increase risk in investment market. Cryptocurrency is runs over a complex algorithm because of this many people still doesn't believe on this. Because of this above reason it cannot replace fiat currency.

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July 30, 2018, 11:14:20 AM
 #167

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.   
We only say that or imagine, because for now everybody knows that cryptocurrency is for not ready to replace the existing system, it is too volatile, it is too unstable, it is not trustworthy at the end.
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July 30, 2018, 11:18:04 AM
 #168

It seems very hard for Krypton to take the place of money for real. This can take many years to become. And that time is also very variable. Crypto can be a common currency. But the whole world needs to accept it.

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July 30, 2018, 12:29:46 PM
 #169

Personally, I will never see this happen. Crypto will exist but fiat will exist as well. They will co-exist because they have different features.

We both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?

But as you can see sooner or later the fiat will positively replace by crypto and digital wallet so on and so forth, have you aware of the implant like a usb?, on the person wrist?, which it will be the new paying system though.

And right now there are tons of country that implementing it. On the other hand yes it has a bad effect but nevertheless i think it will serve as a concept of the future.

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July 30, 2018, 12:42:14 PM
 #170

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.   

Your topic does not really do have an effect on reality. Fiat will exist and cryptocurrency will be the second type of currency which people can use in their everyday lives. Crypto replacing Fiat will never happen.

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July 30, 2018, 12:44:14 PM
 #171

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.   
unlikely, your imagination is too far away, the FIAT currency will never disappear. although some of the uses of the FIAT currency are being replaced by crypto currency. but I'm not sure if the FIAT currency will really disappear completely. because there will be a big problem if the FIAT currency is lost. not everyone can make transactions using crypto currency.
transactions with crypto currency will require internet connection and not everyone in this world can access internet

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July 30, 2018, 12:44:23 PM
 #172

Then it would be the same thing as if using the fiat currency because there will be no different purpose of it rather than paying for the stuff. I guess we can not say whole crypto currencies replacing the fiat because each and every coin that you see in the market is not made for the currency purpose but also made for utility purpose only limited to their own platforms. So lets say bitcoin is the currency replacing whole fiat, then it will be just next fiat with units divided in the Satoshi and carrying huge value against it. I dont see any major change in that nor anything innovative.


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July 30, 2018, 01:16:33 PM
 #173

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.   

You know what it will happen soon in the future..  That cryptocurrency will replace tha fiat money especially now that a lots of people knows how cryptocurrency works and how important it is in the future.. This will  become great if it the government will support us with this... Because if they are the one who will help us and if it is truly legalize by lots of country bitcoin will surely replace our fiat money...

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July 30, 2018, 01:42:55 PM
 #174

Although cryptocurrencies are getting popular worldwide I still believe that it can't replace our fiat money. It remains a digital money with the same function as our fiat money which is used for purchasing goods and services, online shopping, buy loads and bills payments. Crypto especially bitcoin is merely an alternative money for our fiat money. Both crypto and fiat will go together and exists forever.
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July 30, 2018, 02:10:20 PM
 #175

Although cryptocurrencies are getting popular worldwide I still believe that it can't replace our fiat money. It remains a digital money with the same function as our fiat money which is used for purchasing goods and services, online shopping, buy loads and bills payments. Crypto especially bitcoin is merely an alternative money for our fiat money. Both crypto and fiat will go together and exists forever.
I agree with you fiat will exists and I think it cannot replace by crypto. Both has good features and really useable by everyone. So fiat is still important and also very helpful to those non techy person.

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July 30, 2018, 02:10:20 PM
 #176

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.   

You know what it will happen soon in the future..  That cryptocurrency will replace tha fiat money especially now that a lots of people knows how cryptocurrency works and how important it is in the future.. This will  become great if it the government will support us with this... Because if they are the one who will help us and if it is truly legalize by lots of country bitcoin will surely replace our fiat money...
Let's consider the facts. This forum is the largest forums for bitcoin and there's about 1 million users in here. A good percentage of which is inactive. Look around, has someone paid you with bitcoin in exchange of something in real life? I never had that. My family knows about cryptocurrency. But simply knowing crypto doesn't really lead to actually using it. There's a million users in this place, there's 7 billion people in the world. We are nothing when you looked at the bigger picture. Famous youtubers has more subscribers than the community of bitcoin users.

Another thing that's wrong in your post is that you mentioned that legalizing bitcoin will surely replace fiat money. First of all, it doesn't. In Korea and Japan, bitcoin is legal. These are two major countries when it comes to the online world. Yet, we don't see Japanese Yen and/or Korean Won getting replaced by it. (You can check the legality of bitcoin per territory here.)

I don't see bitcoin invading a good percentage of the population especially now that we still have a digital divide going on. There's a lot of new users coming to the bitcoin world these days. On the other hand, there's just not enough people yet to make crypto replacing fiat possible.

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July 30, 2018, 02:34:24 PM
 #177

No crypto can replace fiat, fiat is highly liquid and easy to use, suitable for many objects, not easy crypto can be widely used, while crypto has not been the world widely accepted

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July 30, 2018, 02:44:15 PM
 #178

It seems very hard for Krypton to take the place of money for real. This can take many years to become. And that time is also very variable. Crypto can be a common currency. But the whole world needs to accept it.

Even the growing popularity of cryptocurrencies will not replace fiat money. Probably these currencies will exist side by side. It does not seem possible for governments to completely abandon fiat.

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July 30, 2018, 09:29:05 PM
 #179

if fiat will cease to exist, that means all our transaction will be made over the Internet. and when it happened, the security of everyone will be at risk. because Hackers and scammers will do everything to steal from every people in the World. and I think it will also affect the World's Economy.
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July 31, 2018, 05:14:08 AM
 #180

Fiat money's easier to use, especially because not everyone is as techy as the others to understand crypto. But somehow, cryptocurrency and fiat money work hand in hand with each other. So even though crypto is the future of money, it's still impossible to totally abort fiat money.

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