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Author Topic: Crypto replacing fiat?  (Read 4447 times)
Altf4
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August 12, 2018, 02:17:22 AM
 #381

Crypto can not replace totally fiat money but it will go along way with fiat money , because cryptos can only be use in highly urbanized city,where  power and internet supply is adequate ,bur for fiat money it is still be used in urbanitic places especially the mountainous region fiat money is still effective.So I think crypto can not totally replace the fiat money.

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August 12, 2018, 02:43:56 AM
 #382

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 any country wants to replace its fiat currency, indeed the crypto digital currency is very good for individual or state budget, why? Because the fiat currency of the price and nominal remains no change and the exchange is evenly balanced with digital coin bitcoin that every time the price must change not fixed but the profit we can deal with other countries while fiat currency cannot need to process, I think cryptocurrency is enough only for future assets
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August 12, 2018, 11:06:29 AM
 #383

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 at all capable of replacing conventional national money. Monetary banknotes, this is a practically improved debt receipt of the state for a certain part of the property of the state, denoted in its denomination. That is, money has always been tied to the state of the economy of the state. Crypto currency is completely different. It is created more as a payment system, and not as money. In any case, we can not take some kind of candy from the side and say that it will already be our new money. It is against all economic rules.

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August 12, 2018, 01:29:40 PM
 #384

Personally, I will never see this happen. Crypto will exist but fiat will exist as well. They will co-exist because they have different features.

We both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?
I think both of them will exists forever and I also think that cryptocurrencies will never replace fiat simply because it is our traditional money. In addition, We all know that both of them have different feature but we use them as currency. I think that cryptocurrencies will become one of our currency in the near future. However, it will never replace fiat. Lastly, I hope in the near future cryptocurrency will recognize as legal currency which can able to exchange in some valuable things.

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August 12, 2018, 01:45:20 PM
 #385

We are so used to cash that it's even hard to say which of them will remain.
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August 12, 2018, 02:04:22 PM
 #386

I think fiat will still be there even if cryptocurrencies might become global currencies. Fiat will still be used for local transactions and for daily transactions.

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August 12, 2018, 02:33:26 PM
 #387

It must be admitted that the crypto marketcap continues to increase and the current total is more than $ 350 billion, of course many countries are anxious about the development of Crypto because it has the opportunity to replace Fiat, but I am sure that Fiat always lasts a long time.



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August 12, 2018, 02:34:59 PM
 #388

I think crypto will not replace fiat. Because after all fiat is still very much needed by the community and crypto has its own place in the community. So don't think that crypto replaces fiat. because it's still unimaginable to me.

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August 12, 2018, 02:43:12 PM
 #389

I think crypto will not replace fiat. Because after all fiat is still very much needed by the community and crypto has its own place in the community. So don't think that crypto replaces fiat. because it's still unimaginable to me.

Right, whenever crypto will not be able to replace fiat, bitat's fiat function is difficult, everyone certainly wants instant transactions and is not dependent on internet networks like bitcoin and it can only be done by fiat.

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August 12, 2018, 02:45:22 PM
 #390

I think crypto will not replace fiat. Because after all fiat is still very much needed by the community and crypto has its own place in the community. So don't think that crypto replaces fiat. because it's still unimaginable to me.
We have the same thoughts, I don't think crypto could replace fiat because first of all no matter how advance we are there are still some people couldn't adapt this stuff, they will still preferred those fiat currencies. Crytpto couldn't replace fiat however, it can compete with it or in othet way it could be as an alternative way of payment.

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August 12, 2018, 03:01:30 PM
 #391

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 is good and the same with fiat currency. I see no reason for both of these not to be adopted in our economy. It has it's own features and advantages, so why not engage those two rather than arguing as to what will be the best out of those. Crypto is good in our transactions online while fiat is also good in purchasing things that is near to you.

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August 12, 2018, 04:06:30 PM
 #392

Crypto is not wholly replacing fiat as we are thinking. It will just blend with fiat to make our living in this technological world of our days more easy. Online payment has been a major problem that we face even as I write. People find it difficult to purchase things online especially those without credit cards. Crypto is just one of the payment methods that does not require one's location. All you have to do is to load you address and start making payments

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August 12, 2018, 06:08:30 PM
 #393

I think crypto will not replace fiat. Because after all fiat is still very much needed by the community and crypto has its own place in the community. So don't think that crypto replaces fiat. because it's still unimaginable to me.
We have the same thoughts, I don't think crypto could replace fiat because first of all no matter how advance we are there are still some people couldn't adapt this stuff, they will still preferred those fiat currencies. Crytpto couldn't replace fiat however, it can compete with it or in othet way it could be as an alternative way of payment.
But in my opinion, if all the people have recognized the crypto with excellent science, then in the future
not impossible crypto will be able to replace the fiat. I hope it will happen, and I think it will be fun.


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August 12, 2018, 07:21:04 PM
 #394

Maybe it won't happen if crypto replaces Fiat, Fiat is a legal currency and is a symbol of a country, I think the government will not allow that to happen.

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August 12, 2018, 08:48:07 PM
 #395

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 will be really difficult tonsay if bitcoin could replace fiat currency because it is legal currency and it is supported by the government unlike bitcoin it isn't. That is why bitcoin will take a long time before it will be approved as a legal currency.

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August 12, 2018, 09:35:31 PM
 #396

Fiat is a currency, used and control by the government globally in several countries base on there economic factor, I do not see crypto replacing fiat as it is a different sector with a technological backing compare to fiat which is a currency legally backed up by a law in several countries.

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August 13, 2018, 10:05:23 AM
 #397

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.
Oh no, I think they do, but it is crypto that they control that they want to support. I am observing the development here with great interest, and the question of crypto (in some form) replacing fiat has been the most interesting crypto-related questions to me for a long time. For instance, what about the trend to replace cash with banking services, like contactless payments, that my country is a leader of. Is there a nieche for crypto too?
Well government interest is there but that not enough to pick btc over a system that has been used for the longest time and has been the backbone of basically anything financial. And interest doesn't always amount to positive outlook towards btc since many goverments don't see it in a positive light. The journey of btc to mass acceptance is still fsr from midway so thinking about it replacing fiat is a way too premature.
One thing is sure: the journey for bitcoin from "geek adoption" of 2009 via "mass adoption" of 2018 to "fiat replacement" routes via taxation Smiley

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August 13, 2018, 10:16:19 AM
 #398

I think maybe the cryptocurrency will not replace Fiat because the value of a cryptocurrency is determined by the value of Fiat itself. If Fiat money does not exist, then how do we assess a cryptocurrency, but it is only a prediction and every possibility can be kenya

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August 13, 2018, 10:42:11 AM
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There is no way crypto can replace fiat at least not in this present time, neither will it be in future either. Fiat will continue to dominate in formal transactions.
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August 13, 2018, 01:53:40 PM
 #400

For anybody interested what Erik Voorhees (Shapeshift CEO) and Peter Schiff have to say about the very subject of this thread, here there is a link to the discussion: https://www.youtube.com/watch?v=q8R71WGO3qU

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