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Author Topic: Crypto replacing fiat?  (Read 4526 times)
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July 31, 2018, 05:14:08 AM
 #181

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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July 31, 2018, 06:19:48 AM
 #182

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.

as long as we still use fiat, fiat will still exist among us and maybe crypto can also be used for the transaction in our real life and who knows, crypto and fiat can work together for the payment transaction. I imagine that we have two option for the making a payment and we can use fiat or crypto in the same time and there is no problem with the store and I hope that in the future, we can see this is happening.

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July 31, 2018, 06:58:56 AM
 #183

Cryptocurrencies surpass fiat currencies at some point in the future. One important consideration is that cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status. Beyond that, cryptocurrencies could better support the concept of a universal basic income than fiat currencies would. As a matter of fact, some programs have already experimented with the use of cryptocurrencies as means of distributing a universal basic income.
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July 31, 2018, 07:00:31 AM
 #184

As i see Crypto has already won the numbers (it's way more valuable than the dollar, and even gold), the rest is just a waiting game.  If you want your crypto to make you rich then just get as much crypto as you can and hold onto it.  Wait for more people to catch up with the technology.  And wait for the technology to become more user-friendly.  Because by that time the supply and demand mechanism will have raised the prices way beyond what anyone anticipated.

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July 31, 2018, 08:08:13 AM
 #185

I think it's very unlikely because fiat is a very long currency and many people use fiat so I'm sure bitcoin will not be able to replace the fiat.

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July 31, 2018, 09:29:25 AM
 #186

The introduction of CryptoCurrencies is a sign of Freedom, away from Fiat Money. I sense Bitcoin will grow further and deeper acceptance by the general populace, as Trust be more they embrace.

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August 01, 2018, 05:39:04 AM
 #187

Perhaps the moment when the crypto currency will drive out the Fiat money is not far off. And we live in its vestibule.
Replacing fiat currency is hard but the cryptocurrency is growing and spreading all over the world and will work almost in all the countries in future. However fiat currency will not replace completely by the cryptocurrencies but the systems will change to make stable situations for the use of both because it will be difficult for those people to use cryptocurrencies who do not understand it.
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August 01, 2018, 05:42:05 AM
 #188

Perhaps the moment when the crypto currency will drive out the Fiat money is not far off. And we live in its vestibule.
Replacing fiat currency is hard but the cryptocurrency is growing and spreading all over the world and will work almost in all the countries in future. However fiat currency will not replace completely by the cryptocurrencies but the systems will change to make stable situations for the use of both because it will be difficult for those people to use cryptocurrencies who do not understand it.
many people want to see it, especially those who use crypto. but, I think it's still very hard to do right now, because altcoin raises a lot of debate in the community. well, until the problem disappears, crypto may be considered as a substitute for fiat.

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August 01, 2018, 06:08:15 AM
 #189

Crypto  replacing fiat money is still very very far. I don't even see the possibility in the near future. Crypto  might gain a wide and world acclaim acceptability but not to the extent of replacing fait
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August 01, 2018, 06:10:30 AM
 #190

Personally, fiats and cryptos are important, they will exist in parallel. Fiats can be reduced rather than completely disappeared. Because using currency is my habit and many people change it if I need a lot of time.
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August 01, 2018, 07:41:17 AM
 #191

Well, i think if crypto currency repaced fiat. We would be walking around with some sort of credit card in our hands and all transactions will be done through that. Of course we would still banking so internet access in homes are a must and everyone would have hardwares at homes or on their phones to access them. I think it would be great.
Well you can’t just make any statement about crypto. Maybe it will be the only supreme currency being ruled over every country in future. And may be crypto and fiat both combines to make a strong world where currency have got much tremendous power. So, decision is all based on your thinking. But yes, there will be more influence for fiat in future.
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August 01, 2018, 08:08:08 AM
 #192

I don't think so, Crypto has a good trend, but it doesn't mean it can replace fiat.
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August 01, 2018, 08:16:40 AM
 #193

Perhaps the moment when the crypto currency will drive out the Fiat money is not far off. And we live in its vestibule.
Replacing fiat currency is hard but the cryptocurrency is growing and spreading all over the world and will work almost in all the countries in future. However fiat currency will not replace completely by the cryptocurrencies but the systems will change to make stable situations for the use of both because it will be difficult for those people to use cryptocurrencies who do not understand it.
many people want to see it, especially those who use crypto. but, I think it's still very hard to do right now, because altcoin raises a lot of debate in the community. well, until the problem disappears, crypto may be considered as a substitute for fiat.
In the near future maybe this will not happen, but I'm sure in the future Cryptocurrency will be able
to replace the fiat. So I suggest to starting from now we all had to learn about the world of Cryptocurrency. 


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August 01, 2018, 08:40:54 AM
 #194

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.  
The first thing that I am seeing is the danger to people's anonymity, obviously the national currencies (national cryptocurrencies) will be engineered in such a way as to enhance the control of governments over their people. Thus I think that the crypto should be a multinational addition to national fiat money, in our best interest. Just like bitcoin is today, but with a wider adoption.

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August 01, 2018, 11:01:09 AM
 #195

If all of the fiat money was replaced by digital I think the corruption and criminality would arise. It would be more difficult to track down transactions. No one will know who owes and what money, which might lead to a chaos. How do you expect accountants to do their job, if all they knew about a certain bank account would be a bunch of characters? And, also, if every fiat currency was replaced by digital, but still it would be the government, who regulates the system - then what about all of the alts and BTC, that we use now? Would the governments let people use it then? I don't think so. And what about the taxes? Anyway, I don't think that there's any point in changing all of the fiat money to cryptocurrencies.
If ever cryotocurrencies completely take over and replace fiat, there is no way that the government will allow such as the things you are saying. There will be a way to track down digital money because there is no way that the government will not regulate it.

Btw, even with cryptocurrency we are still paying tax. Even at this moment.
And there is a very huge possibility that by the next few years, people will then prefer transactions made online or usung digital money for convinience. The world is fastly evolving and so is the technology.

In such a case - either the whole economics will crash, or cryptocurrencies won't be anonymous and won't have most of the advantages that they carry now anymore.
I can't imagine the whole economic crashing. Surely experts can do something to prevent this. As for the current adavantage and characteristics of todays crypto, I agree that soon it will change accordingly to what is best suited once crypto take over the world. I'm sure there will still be versions of crypto in the future which can be used with anonimity.
Taking the lead over the regular currencies is not something which you can expect to happen in a day or two and that this is something which will take a lot of time. However, the way things are happening and that they are turning in favour of the crypto currencies can give us a great hope to believe in this thing that these crypto currencies will then be leading this world in much better way.

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August 01, 2018, 11:46:03 AM
 #196

I think that at any time crypto will never replace fiat, this is because the state will do everything to protect the fiat, crypto will only be a companion and complementary for easier transactions.

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August 01, 2018, 12:01:30 PM
 #197

I don`t think crypto will replace fiat because the way people use crypto is not as an currency or money, but as an asset just to earn profit. So we can say that cryptocurrency is not money at all, it is mostly an asset. That is why crypto will not replace fiat.

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August 01, 2018, 12:03:58 PM
 #198

if such a thing happens than I believe that instead of decentralization we would have a full centralization where every spending and earning would be tracked and people would work only for taxes and governments .

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August 01, 2018, 12:07:38 PM
 #199

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.   
very impossible. because crypto will never be approved worldwide. the world only recognizes if crypto is just a digital asset.
look at many countries that forbid crypto because there is no law that approves crypto.
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August 01, 2018, 02:13:58 PM
 #200

I'll tell you what guys, if the crypto-currencies and various blockchain projects will continue to develop as rapidly and we will eventually reach a mass acceptance of the blockchain, we all will become really rich and happy, as we will have a really interesting and favorite pastime which brings us great money, that's what makes people happy. And it doesn't matter will crypto replace fiat or not.

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