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Author Topic: Crypto replacing fiat?  (Read 6211 times)
Domicbora
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August 07, 2018, 09:54:21 AM
 #321

Its hard to accept crypto as fiat , there are many difference and important uses of this both money. And i think crypto is a partner of fiat and can use and many different online stores . I want this both because its very useful in my country , but we don`t know what happen in next year or decades. Lets see .  Cool
Yes you’re very, very right. Even fiat has been around for many years now and has served various purposes even before anyone though of Bitcoin. Bitcoin or any other cryptocurrency doesn’t have what it takes and they can’t replace fiat, they can only serves as a mode of payment, just some people saying that they will replace fiat. There are various ways you can make use of your fiat and you can even use payment processors like PayPal, TransferGO and a lot of them that makes fiat payments faster.
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August 07, 2018, 10:12:51 AM
 #322

I don't agree of using Crypto in this moment without a great developments in their value in the market I mean it is hard to replace Crypto in fiat as our local money because it is hard to nuy things with it. And I think most of people on the rural places can't join us in using it in their daily basis because they don't know it yet even here in my country many rural place here don't know it.

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August 08, 2018, 05:11:32 AM
 #323

In my opinion, this is very likely to occur, where crypto currencies will replace existing flat currencies. If that happens, that is very good news, where payments in any case will be very young. People will be technologically literate.

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August 08, 2018, 05:53:50 AM
 #324

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
Irrespective of the history of fiat, the crypto currency can still not replace it because of the number of users of fiat. Almost all the people around the world use fiat for their daily transactions and for meeting their need as compared to those who partially rely on crypto currency and partly on fiat.

Besides, the government control inflation by exercising the fiscal policy and monetary policy tolls and if the fiat system is replaced by the crypto, the tolls will no longer be effective to educe inflation.



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rdangi
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August 08, 2018, 06:08:29 AM
 #325

Cryptos haven't replaced the fiat yet and it won't in future too as many economies have declared it as an illegal tender. Without complete support and consistent flow cryto cant replace the fiat . Hope you got me! Wink
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August 08, 2018, 11:27:06 AM
 #326

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 can sleep well. We want see that approximately for or 2 years from now, because just imagine how many changes and how many countries you need to explain and conceive in order to completely replace the system.
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August 08, 2018, 04:32:57 PM
 #327

There was a certain period of time when people love to use fiat, but now time has changed and now its the digital world are overtaking all the place. Most if the government is converted their fiat into crypto and its good for all the people around there, But using crypto relive the privacy of money. IN this situation any one can know how much money you are holding on though there are many other opinions out there about this topic but I think its revile the privicy of money that anyone can easily track how much money you are holding and can be hacked your precious amount.
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August 08, 2018, 04:47:52 PM
 #328

in my opinion it really can't happen because fiat cryptocurrency is very different fiat also has physical values and for cryptocurrency it only has values in digital exchange places so I'm sure it's very difficult to replace fiat.

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August 08, 2018, 05:17:53 PM
 #329

I think we will see the spread of this trend and the widespread use of cryptocurrency
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August 08, 2018, 05:25:17 PM
 #330

in my opinion it really can't happen because fiat cryptocurrency is very different fiat also has physical values and for cryptocurrency it only has values in digital exchange places so I'm sure it's very difficult to replace fiat.
\You are right, although many think that cryptocurrency is a digital currency, but it is completely different from Fiat, so the possibility of the effect caused by cryptocurrency is to make use of fiat money less, and perhaps focus more on crypto. but that can never replace fiat.

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August 08, 2018, 06:46:41 PM
 #331

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.
Right now it is impossible for any form of electronic money to replace fiat since fiat exist not only in electronic form but in the form of cash as well, that is why I think that if in the future we want to replace fiat it will need to be with a combination of bitcoin, gold and silver, we will use gold and silver for those that want a physical element and for those that can accept an electronic form of payment we will use bitcoin and other cryptocurrencies.
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August 08, 2018, 06:50:07 PM
 #332

When we compare fiat and crypto, Bitcoin is worth thousands more than the standard dollar, indicating great demand.
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August 08, 2018, 07:08:58 PM
 #333

For developing countries with high illiteracy rate and the majority of the population not being technology inclined, it going to be chaos. I think digital currencies are doing great but we will still need FIAT money(From Human Computer interaction perspective).
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August 08, 2018, 07:30:40 PM
 #334

It seems to me that if the crypto will replace all the currencies in the world - it will be a little evil. I ask people to understand me right away.
Why bad?
It's a wicked one because all people rush to the crypt. Will be putting themselves in line, buying currency at the exchange, etc. But to work physically, someone should do that. Someone should service your home, repair your cars, etc. Now you will say that without a trial we will pay a crypt. But those people who provide these services will no longer be. They will go to investors, traders, etc. After all, there lekshe thai more can earn.
What do i do What a crypt is cool, but that everything worked properly and good to think))))
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August 08, 2018, 07:52:46 PM
 #335

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.   
At some this it will happen, it's just that i dont have a time map to have a vision when will it happen, but for sure it will.

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August 08, 2018, 08:01:52 PM
 #336

no one can replace fiat money, crypto is just a currency made for a place to invest, crypto is not suitable to replace fiat because its value rises and falls fluctuatively

The market is volatile so you should always expect for the market price to drop or increase sometimes and the volatility is also necessary in order to earn more profit by trading in the market.
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August 09, 2018, 11:53:38 AM
 #337

Cryptos haven't replaced the fiat yet and it won't in future too as many economies have declared it as an illegal tender. Without complete support and consistent flow cryto cant replace the fiat . Hope you got me! Wink
There is nothing in this world which you cannot expect to happen and that you never know what will happen after sometime. However, I am very much sure that these crypto currencies can be much more beneficial for the economy and that they can help us in much better way than that of the fiat. The day government will support these crypto coins will be the day we will see crypto currencies taking over the regular currencies.

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August 09, 2018, 12:13:15 PM
 #338

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 in almost all countries no one agrees with crypto and only recognizes limited digital investment assets.
if that happens a country must eliminate the currency in the country itself and replace it with bitcoin.
but I am very sure that no country will agree with all this.
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August 09, 2018, 01:30:28 PM
 #339

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.
Right now it is impossible for any form of electronic money to replace fiat since fiat exist not only in electronic form but in the form of cash as well, that is why I think that if in the future we want to replace fiat it will need to be with a combination of bitcoin, gold and silver, we will use gold and silver for those that want a physical element and for those that can accept an electronic form of payment we will use bitcoin and other cryptocurrencies.
- And if from what you say, fiat has become quite complete, why do we need replacements here, replacing with a combination of bitcoin, gold and silver or anything else, it also can not produce a good result for the future. The society with fiat is moving very steady, with no complaints, so I have reason to believe that fiat will still play an important role in the future, crypto will have no chance to touch the fiat's position because from the actual situation, it is not welcome, support and stability are still very low

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Pan Troglodytes
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August 09, 2018, 01:35:12 PM
 #340

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 in almost all countries no one agrees with crypto and only recognizes limited digital investment assets.
if that happens a country must eliminate the currency in the country itself and replace it with bitcoin.
but I am very sure that no country will agree with all this.
Or maybe for some time they can run parallel, like in Japan? They say in Japan Bitcoin was accepted last year as an officail currency next to Japanese jen.
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