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Author Topic: Crypto replacing fiat?  (Read 6111 times)
Siminarota
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August 03, 2018, 09:06:52 AM
 #241

Never, I believe forever can not crypto replaced fiat, because fiat is too liquid and easy to use, so the replacement of crypto will make many people do not know how to use and can It would cost more to invest in government equipment.
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August 03, 2018, 09:12:11 AM
 #242

No fiat is still the best currency in the world most of the crypto just need fiat in order for an individual to earn exchanging crypto to fiat. But if that crypto has no fiat exchange that is good for nothing crypto. As we all know that all crypto represented with fiat are good but to those crypto that are not then better not utilize of use that one.
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August 03, 2018, 09:15:34 AM
 #243

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 personally don't see the opportunities for cryptocurrencies for now to replace existing currencies, so global and that changes are taking so many time, we all are just not ready for that to happen.

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August 03, 2018, 10:25:50 AM
 #244

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.
We all know that people are using this paper money since centuries and that they have a blind trust on these currencies. It will no doubt be very much difficult for any of the crypto currency to replace these existing regular currencies and that too this soon. This will take a lot of time and that the support of the government and the interest of the people in investing in these crypto currencies will be the key factors in deciding this thing.
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August 03, 2018, 10:31:26 AM
 #245

there are several things in cryptocurrency like Bitcoin and Ethereum that make the general public object to using it extensively, let alone to replace the paper money. The level of public confidence in Bitcoin is an important element in assessing the possibility of a digital exchange tool replacing the print money.
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August 03, 2018, 06:37:43 PM
 #246

I think its gonna be technology dependency.

Since bitcoin could only operate in a computer or a gadget, transacations will be limited. Without electricity or internet there would be no transactions.

Isolated areas were electricity is not a necessity might also be affected as they could have no means to transact.
That will definitely limit the adoption that a technology like bitcoin and other cryptocurrencies can reach, but at the same time most of the money of the world is concentrated in just a small amount of individuals that will have no problem adopting bitcoin if they think it is the best option for them, and finally that barrier can be overcome in the future when the technology of smartphones gets incredibly cheap and even a poor person can get access to it without making big sacrifices.
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August 03, 2018, 07:11:13 PM
 #247

The transition from fiat currencies to fully digital currencies will be very painful. And if there are any extraordinary circumstances. For example, when the dollar collapses and the world economies of the world. Then the dawn of digital currencies is possible.
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August 03, 2018, 07:25:46 PM
 #248

If Crypto completely replaces fiat, it is completely controlled. Then the government will become even easier to control its citizens. We will have to come up with something new for illegal operations and money laundering.
I think that fiat will exist in the future.
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August 03, 2018, 07:40:21 PM
 #249

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 we know, the banking world hasn't fully touched the lower class, various requirements are considered a bit complicated for prospective customers, for example the location's so difficult to access, the ID's problematic, the queue is full, and some other factors, which I have not mention it.
When viewed from its positive impact, cryptocurrency at its base will represent fiat currencies in general. The first positive impact of the cryptocurrency's that it's capable of being used as a currency, with the level of complexity of increasingly sophisticated cryptographic algorithms, public confidence's also increasingly guaranteed to avoid risks such as counterfeiting. Such trust contributes to the development of a global community that reinforces its position as a currency that is not easily wobbled by the condition of society. Like gold, cryptocurrencies can also suppress the rate of inflation. With cryptocurrencies, any transaction becomes easy anyone can make transactions anytime and anywhere as long as they have an internet connection

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August 03, 2018, 07:51:08 PM
 #250

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.   
This can not happen at all under any circumstances. States can not switch to the use of other people's virtual money, which in general will not have any binding to the economy of the country. It's impossible. Such a state simply will not be able to survive normally for several months. This is utterly absurd.

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August 04, 2018, 05:21:18 AM
 #251

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.   
This can not happen at all under any circumstances. States can not switch to the use of other people's virtual money, which in general will not have any binding to the economy of the country. It's impossible. Such a state simply will not be able to survive normally for several months. This is utterly absurd.

why not? if the government can take benefits from the crypto, they can replace fiat and change it to the crypto. but this will need many things to prepare before the government can replace their fiat to crypto and this will not happen in the short time. there are possibilities for the crypto to replacing fiat and maybe it will happen in the future.

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August 04, 2018, 05:47:58 AM
 #252

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 don't think it can happen even in future since most of people are still not well aware about bitcoin and on the top day by day the value of bitcoin is now decreasing.
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August 04, 2018, 07:06:32 AM
 #253

It is indeed a future to have digital currency in our pocket rather than fiat money. We should be anticipating positively tht one day digital money will reign and fiat will extinct.
I don’t think this is something different you are having in your pocket. Since 2007 or around, when lives of our people start changing with technology, there are changes that became astounding. These changes are hitting us hard and now just see, this world isn’t any more prolonged. Everything is in your pocket and you are enjoying the best so far. This must have to come.

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BountyGo
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August 04, 2018, 09:30:05 AM
 #254

I don't believe fiat will ever be replaced by digital currency. I think BTC will just be a commodity that has a lot of value that can be bought and sold, sort of like holding a stock of a public traded company. I'm also almost 40 which makes me old in this community so I may be a bit close minded.

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August 04, 2018, 09:42:47 AM
 #255

no, crypto cannot replace fiat because of the function of both. however, crypto cannot or cannot be used for online transactions. and crypto itself cannot yet determine a strong value.
That’s because they weren’t made to have any particular value, right from time they were made to be volatile in nature. But I think you’re making with line where you stated that cryptocurrency can’t be used for any sort of transaction, you’re wrong, it can be used for a transaction anywhere it is accepted, both online and offline.

I have once told my friend to send me Bitcoin instead of real cash and he did. So you shouldn’t say that it can’t be used for transaction. If they can’t be used as a way of making transactions then what’s the need for it?

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August 04, 2018, 10:24:18 AM
 #256

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 question you all that are claiming crypto is replacing fiat should ask yourselves is what is crypto (Bitcoin) and what was the purpose of which it was made for, and how did Satoshi himself define? He never said it was new currency to take over and replace our main currencies, rather it’s meant for peer-to-peer transactions. My answer to your question is a Capital NO! Bitcoin /crypto is not replacing our fiat.

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riso2015
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August 04, 2018, 10:33:49 AM
 #257

It is indeed a future to have digital currency in our pocket rather than fiat money. We should be anticipating positively tht one day digital money will reign and fiat will extinct.
I don’t think this is something different you are having in your pocket. Since 2007 or around, when lives of our people start changing with technology, there are changes that became astounding. These changes are hitting us hard and now just see, this world isn’t any more prolonged. Everything is in your pocket and you are enjoying the best so far. This must have to come.
The heyday world of crypto will be starting soon, and I am sure the next few years Bitcoin will be able
to replace the fiat. Now we have to prepare our ability to deal with this current technology money.

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August 04, 2018, 11:03:26 AM
 #258

In my opinion, crypto will never replace fiat, this is because the state thinks that fiat is more stable than crypto, if crypto is used as a substitute for fiat it can make everyone confused because prices can rise tens of percent per day.

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August 04, 2018, 11:43:30 AM
 #259

The goal of crypto is to create usability and efficiency for humans. People can choose crypto or fiat. as long as their use value is appropriate. There are no specific rules in crypto. But I do not think with its characteristic variability. It will not be able to replace fiat.
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August 04, 2018, 12:32:47 PM
 #260

fiat currencies most of the governments are planning to  launch centralized currencies rather than decentralised crypto currencies they are working with their own blockchain
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