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Author Topic: Crypto replacing fiat?  (Read 4579 times)
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August 04, 2018, 05:34:05 PM
 #281

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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August 04, 2018, 06:11:07 PM
 #282

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.   
Impossible!!!!! This is not possible that crypto will completely replace fiat. Every country has its Central bank which regulates their respective currencies, so central banks will not allow to disappear fiat.
But if we consider of a situation that crypto replaced fiat completely, then there will be many problems such as ,in those countries where literacy rate is too low ,people are unaware regarding how to use internet on smart phones or PCs. Moreover Old aged people would not be comfortable with paying their each expense through internet.

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August 04, 2018, 08:06:42 PM
 #283

I wish this can happen in future but our government will not allow it.
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August 04, 2018, 09:03:26 PM
 #284

Crypto will never replace fiat, it’s impossible. There are just too many things in this world that can’t be done without fiat, and there are influencers who won’t allow crypto to replace fiat because they need it.

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August 04, 2018, 09:14:39 PM
 #285

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.   
For now we are about to only imagine that because even the biggest newbie in the scripture world can certainly say that we are far away from being ready to that the currency and the users as well.

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August 05, 2018, 09:49:38 AM
 #286

it's very difficult when Crypto will replace Fiat ... Fiat's history has been hundreds of years ago and the public is very common using Fiat
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August 05, 2018, 09:52:05 AM
 #287

when all blockchain infrastructure has been integrated and education will greatly benefit from using crypto instead of fiat, there will be drastic changes in the world economy and not finance
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August 05, 2018, 10:00:45 AM
 #288

crypto can not be replaced fiat, perhaps forever can not, crypto in my opinion can only contribute a small part in the payment of goods and services in our lives
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August 05, 2018, 11:57:29 AM
 #289

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 this will happen because we all work in the crypto world for a Fiat or to get cash.  So what's the point of working in here if we won't get any cash or money?  Maybe if there will be some changes in the whole world It can be possible  to happen.

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August 05, 2018, 12:09:37 PM
 #290

In do not see this happening, as digital currency as some limitation,which will militate against Replacing fiat,token cannot be access by illiterate and rural dwellers who do not have access to the internet,I forsee a revolution wherebwe can have both fiat and crypto coin existing.

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August 05, 2018, 12:36:57 PM
 #291

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.

Replacing traditional currencies by crypto will be very difficult. First of all, the crypto participation in world finances is too small. Such changes require the involvement of governments, banks and financial institutions. And these organizations do not care about the growth of the cryptocurrencies.

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August 05, 2018, 01:16:05 PM
 #292

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.

That is not about becoming rich, the question says what will happen if the fiat is ever replaced with the crypto currencies. The attitude that you brought in here is like an investor. But we need to think about it as general public as well. It could benefit us in lot more ways than what you think. (Profits)

It will help us improve the transaction system in digital way, new applications will emerge in the market all the time, and this will help the community to grow bigger and bigger always. The profits, investors, etc things will come later on.

Yes, i'm talking from the investors side, but you are right, definitely. We need this mass adoption, we need transparensy and honesty everywhere, people are already tired of that "imposture kings" which govern whole countries or separate regions and thinking only abiut themselves and their fat bellies and pockets. I think you know what i mean.

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August 05, 2018, 01:47:58 PM
 #293

This will be very difficult for cryptocurrencies to replace fiat currencies. This can take a very long time and the chances are very small. If the world can accept cryptocurrency then it can be a global currency.

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August 05, 2018, 01:59:27 PM
 #294

Although crypto usage is increasingly massive and popular but I am sure that it will never be able to replace fiat, this is because fiat is a transaction that is not dependent on the internet network so it can be done anytime and anywhere.

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August 05, 2018, 02:22:36 PM
 #295

There is no such word replacing to this two the crypto and fiat because they are unique in its function although they are used as a  medium of exchange. They are unique as I said because they have different people who made them all they need to do is to do their best to make transactions easy.
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August 05, 2018, 03:28:18 PM
 #296

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.   
Yes, if cryto replace fiat then everyone can see your balance in your account. It is so easy to understand and I think it is a handy for trading, knowing the amount of trading partners are and there is no doubt in the transaction
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August 05, 2018, 03:32:27 PM
 #297

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.   
Fiats will be forever in our society it will not be replaced by any currency even the powerful cryptocurrency. In the next decade they will put more power in banks for sure that's why people will accept that fiat money is always there and they can use it in their everyday life. Cryptocurrency is good but not all people know about it.



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August 05, 2018, 03:39:10 PM
 #298

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.
I personally find that electronic money can completely replace fiat.

I think when the value of coin does not change too much in the long run along with their good applications. They will certainly be recognized by the government and society
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August 05, 2018, 03:59:34 PM
 #299

It was for a good cause. I don't suggest any investment right now. Take your time to study, find a couple of projects you think are worth and start again with small amount. Crypto has a bright future, don't be afraid to take your second first step.

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August 05, 2018, 04:34:08 PM
 #300

In my opinion, right now it's impossible for Crypto to replace fiat, because fiat are running for a long time, and some big countries already ban Bitcoin. But in the future, it's possible, electronic money will replace fiat, but it will take a long time, before that happen. For now it's impossible, because Cryptocurrencies are still not trendy to other people.

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