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Author Topic: Crypto replacing fiat?  (Read 6111 times)
BabyBoss
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August 09, 2018, 01:42:13 PM
 #341

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.   
That’s true, actually after reading this I am thinking that it is very dangerous to those who hold big amount the tendency of danger is very near on them, since they can track our addresses(ledger).

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Karmakid
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August 09, 2018, 03:26:56 PM
 #342

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 another mode of payment which may suit our convenience, I believe that it is still better to have bitcoin but I don't think that it could replace fiat. We all know that physical money is a well known way of transactions from generation to generation and no other currency could replace it that easy. It might take time and there are still lots of things to consider.

   
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thutrangnt
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August 09, 2018, 03:35:56 PM
 #343

No, There're many poor countries in the World that have no internet or knowledge about technology, how can they use crypto instead of fiat?
Xuaquing141
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August 09, 2018, 03:36:16 PM
 #344

Although some goverment or company in the world do not approve the Crypto but in think in the near future, it will be accepted and replace the role of fiat in the economy or banking. It is the same as the card was replaced the cash in the past.


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August 09, 2018, 03:51:55 PM
 #345

In a few years, important steps have been taken absolutely. Now people want to send their money quickly and reliably in the whole electronic environment. Almost everyone started shopping on the internet.

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August 09, 2018, 04:31:37 PM
 #346

Not in the near future, we can only wait and only then see. Smiley WHo investing in ICOs right now, have you heard about Kelvin Blockchain project? I'm willing to participate, very promising project
Nabilo
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August 09, 2018, 05:13:07 PM
 #347

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.   

That could be possible in the near future for eg. 80% irrelevant but should help you to understand. Trades between Androids and humans after a few hundred years.  Roll Eyes
Cinemo
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August 09, 2018, 05:22:36 PM
 #348

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 am sure 100 percent that it will not happen anymore because fiat is very usable to all than crypto but maybe? after 200 years? maybe crypto will replace fiat because now fiat is stable so people used this to pay something and to buy something and in crypto this is not stable than fiat so fiat helping crypto to increase the value of this.
Ozero
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August 09, 2018, 05:26:34 PM
 #349

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.   
Crypto currency is not able to replace fiat. This can not be ever. Ordinary national money is issued at par value in an amount equal to the available material values in the country. If paper money is issued more, inflation will arise. Crypto currency is not tied to the economy of any state at all. How can it replace national money? These are just ordinary fantasies that have nothing to do with real life.

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August 09, 2018, 05:34:32 PM
 #350

Although some goverment or company in the world do not approve the Crypto but in think in the near future, it will be accepted and replace the role of fiat in the economy or banking. It is the same as the card was replaced the cash in the past.


It does not seem quite certain that crypto will take over the role of Fiat. Governments or banks have no interest in the widespread use of crypto. Blockchain probably will use the transaction, leaving crypto somewhere on the sidelines.

Himanshu111
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August 09, 2018, 05:38:42 PM
 #351

Although some goverment or company in the world do not approve the Crypto but in think in the near future, it will be accepted and replace the role of fiat in the economy or banking. It is the same as the card was replaced the cash in the past.


It does not seem quite certain that crypto will take over the role of Fiat. Governments or banks have no interest in the widespread use of crypto. Blockchain probably will use the transaction, leaving crypto somewhere on the sidelines.
I think that this process will take time.Although cryptocurrencies are trending a lot but still many people have no idea about them.Even some countries have banned cryptocurrencies.Central banks and governments are also not supporting cryptocurrencies as they are not centralised and taxes are also not imposed on them.The central bank has no control over them.Fiat currency is used by all the people of the world.It can be used anywhere and anytime.
chosenboy4
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August 09, 2018, 06:09:45 PM
 #352

Cryptocurrency is disrupting the financial system because it has quite a number of advantages over the conventional currency such as the dollar. By eliminating intermediaries, digital currency gives you more control of your finances. Besides, it can be used as a hedge against the inflation of the dollar. Most cryptocurrencies are also extremely secure due to the use of dual-sided cryptography for every transaction
tamradhwaj
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August 09, 2018, 06:22:59 PM
 #353

it is impossible to  replace fiat. because  government won't  allow  such system that they can't control or monitor. may be in future government can launch  their own digital currency  which is different from fiat and  similar to crypto currencies.  it will make life  faster and  transactions will be automated and super fast.
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August 09, 2018, 06:28:47 PM
 #354

This notion of cryptocurrency replacing fiat is a misplaced thinking. To me, cryptocurrency is best suited for peer to peer payments, especially across national borders. It is swift, less expensive and at your convenience. But to say it will replace fiat, I don't think so.

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August 09, 2018, 07:26:41 PM
 #355

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.


I think choosing the cryptocurrency as a full-time job is bit risky and not affordable.
What you're doing is just depending on cryptocurrencies ever thought many agencies and government are against it?
They're looking to take it down what would you do then? Better to move on and choose the job.
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August 09, 2018, 07:46:59 PM
 #356

Now that's actually a tricky question. It's true that your privacy will be greatly compromised if you choose cryptocurrency network but it is also true that you can switch between different addresses whenever you want so tracking you down is not actually that simple, as the service or the hacker has to We track you every time you switch an address. On top of all of this, they still have to assume that, that address is yours and they have together witnesses and proves to confirm that.

DeluxeJR
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August 09, 2018, 08:05:00 PM
 #357

Crypto will never replace Fiat, it will be just another payment method
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August 09, 2018, 08:22:29 PM
 #358

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.   

Crypto replaces fiat, it's the same as dependence on the internet. imagine if that happens, a country will depend on a group of IT experts, then what about bandwidth? I think this is not positive if all countries change their fiat money to crypto.
Andrej Peiboski
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August 09, 2018, 09:17:20 PM
 #359

Surely the crypto are destined to win, but before replacing the cash it will still take a long time: to use the crypto we need a technology that not all have, and  for many people cash is still the main monetary base.
We'll see what happens.

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August 09, 2018, 09:23:59 PM
 #360

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 of course fantasize!
First, bitcoin will not be able to replace Fiat money completely. It will be able to replace the maximum non-cash payment and credit cards.
Secondly, many people will be against to remove Fiat money, for them it is not convenient.
Third, many countries create their own cryptocurrency, which will be partially Fiat, since not all segments of the society are able to accept cashless payments in crypto-coins.

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