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Author Topic: Crypto replacing fiat?  (Read 5267 times)
renemagritte
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August 04, 2018, 12:46:24 PM
 #261

I think it will happen eventually, because a need of something physical is no good for today's digital world. People are paying with their smartphones just to not carry cards-fiat etc.

But the problem is, there are lots of cryptocurrencies. There has to be a single coin that will lead them all (bitcoin right now, and hopefully ethereum or something else in the future). If every country have their own currency, what is the difference then? I would like to earn my money in world currency.

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Winterwood21
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August 04, 2018, 12:57:20 PM
 #262

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.   
it's a good idea, but I think fiat money will still exist. digital money still has a lot of deficiencies and has not been able to meet the needs of all countries, besides being more vulnerable to hacking. the future may change and digital money will master international commerce but I am sure fiat money will continue to exist, because both have their own character and function.
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August 04, 2018, 01:07:43 PM
 #263

if crypto replaces fiat I don't think there will be a counterfeit money lag, and that needs to be safeguarded only by the security of our wallet, cyrpto has many advantages in fiat but crypto also has shortcomings, as time goes by the lack of crypto will be less than now , and crypto will be better

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August 04, 2018, 01:13:54 PM
 #264

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 have any acquaintance with it will going to happen in light of the fact that their are numerous poor nation that didn't utilize crypto they utilizing fiat as far back as so there are not conceivable outcomes that crypto will supplant fiat since fiat is the first cash.
Joe103
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August 04, 2018, 01:48:29 PM
 #265

It will be quite a very difficult thing for crypto to replace fiat. People still trust the fiat system more than cryptocurrency.
Gaurav11kb
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August 04, 2018, 01:55:26 PM
 #266

First of all, Crypto is never going to replace fiat, ever.

Second, hypothetically if this happens and Govts. are using crypto as fiat currency, then what is the difference between fiat and crypto. What would happpen with decentralization then?
tinystone26
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August 04, 2018, 01:58:37 PM
 #267

It is completely nice in terms of payments to make easier just like other convinience stores here in my country. The only effects that a consumer and costumer may encounter is when they have experience some sort of problem like maintainance of the utilities that they use and I think fiat may still exist because of some area that are not reached like some rural area.

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August 04, 2018, 02:31:04 PM
 #268

I think, cryptocurrencies will not be able to replace fiat money, fiat is more stable in value and also easy to use as a payment instrument. Fiat will not disappear and can still be used in the future.

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August 04, 2018, 02:37:56 PM
 #269

BTC is not a form of cash and a viable asset. The reason is limited emission and high volatility, as well as lack of support from regulators. I doubt that this will happen in the foreseeable future

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August 04, 2018, 02:45:37 PM
 #270

Never, I think if fiat's crypto replaced there would be many dissenters, and crypto is not suitable for some uses.
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August 04, 2018, 02:53:00 PM
 #271

I agree with the majority here, it's a non-viable dream to think the
odds and possibilities of cryptocurrency replacing fiat
at any time. It's not gonna happen, though I
surmise crypto will have a lasting impact
in coexistence with fiat in the future.
agimat
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August 04, 2018, 03:58:05 PM
 #272

I don't believe crypto will replace fiat. I would have love a situation whereby both will be used simultaneously. I guess it is best that way.

Its another story because crypto is a currency that used in investment in digital currency, while fiat money is originally made  in circulation of the economy in government side.
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August 04, 2018, 04:07:07 PM
 #273

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.


Maybe cryptocurrency will replace fiat in the future because there are a lot of people who are investing on it and that is one of the reason why bitcoins do really have the potential to grow even more in the future.


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August 04, 2018, 04:26:30 PM
 #274

Fiat will not be replaced by bitcoin, bitcoin is too risky if its value drops dramatically. I think bitcoin is more suitable to be like gold, suitable for investment tools.
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August 04, 2018, 04:37:29 PM
 #275

This will happen for sure but it may take several years like 5 to 10 years for the transformation from fiat to crypto. There are so many obstacles in the way to replace fiat and crypto, mostly the obstacles comes from banking and financial institution since they will not be exist if crypto replaces fiat and due to that these institutions are misguding governments to ban crypto.

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crazymadrounder
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August 04, 2018, 04:47:41 PM
 #276

Cryptocurrencies are not made to replace fiat money they are made to replace governments.
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August 04, 2018, 04:48:40 PM
 #277

It will be quite a very difficult thing for crypto to replace fiat. People still trust the fiat system more than cryptocurrency.
That is for now. It will happen eventually. We just cannot see it yet. Maybe we wont see it either but I have hopes my son will.


First of all, Crypto is never going to replace fiat, ever.

Second, hypothetically if this happens and Govts. are using crypto as fiat currency, then what is the difference between fiat and crypto. What would happpen with decentralization then?

They will have their own crypto. If it is digital then it is faster. There will be no more papers to bring everywhere you will go. Banks wont have to count the money they took from you. That is if they still exist.

If it is bitcoin which is going to be used then I doubt there will still be a government. If there is, then they should count on the people to pay them since everything will have privacy from then on.

One reason why they ban it also in other countries. It will stop the large amount they are taking from the people's tax.

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August 04, 2018, 04:50:51 PM
 #278

I don't think that crypto will replace fiat , the two currency will forever exist especially fiat because normally we all used fiat money in our daily lives and we see digital currency as an investment since it has a big potential to grow, the two has their own ways helping us people.
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August 04, 2018, 04:53:42 PM
 #279


One reason why they ban it also in other countries. It will stop the large amount they are taking from the people's tax.

Exactly, with a crypto currency the governments can not enslave you anymore, so they will lose their power, taking into account that all governments by their very nature are the most violent group on the planet, probably do not let their power be lost peacefully.
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August 04, 2018, 05:34:05 PM
 #280

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.   
Well if everything happen in the favour of crypto then the government will definitely implement a few privacy features too in the world cryptocurrency. So there would be no incidents of extortion or anything like that. But this thing happening for real will be taking a lot of time and also a lot of trials as government always implement a system that is fail proof but sometimes a few bugs show up.


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