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Author Topic: Crypto replacing fiat?  (Read 6111 times)
dodgi
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August 15, 2018, 09:34:53 AM
 #441

No, I think that crypto to replace only Bank transfer

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August 15, 2018, 10:28:09 AM
 #442

No, I think that crypto to replace only Bank transfer
In my opinion, Crypto can replace fiat, to replace fiat is not easy, they also have to invest in equipment technology for the use and level of users. So I would not be able to do that

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August 15, 2018, 10:36:49 AM
 #443

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.
I don’t think that this will remain the case forever. Like in history, first there was barter system, then gold coins which was replaced by paper money. With the changing time and needs, revolution comes in every aspect of human life. Now the world is becoming more technology oriented so digital currency will overtake the present money and it is future.

as long as bitcoin doesn't have clear founder data and official offices, they will never get recognition as a currency, many countries worry that bitcoin will be the cause of economic warfare because there is no central position in regulating price policies, this will make the economic turmoil return to the era barter.

Fiat will remain in place, but in the future, their functions will be far more prospective to be used in digital systems, so I think eventually they will continue to join crypto, but still with their own altcoins.
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August 15, 2018, 10:51:16 AM
 #444

It seems like the possibility is still small if indeed it happens, anyhow fiat is a characteristic of each country that has different currencies, unlike crypto, I think crypto will only be an alternative currency that's indeed like as a global currency for each country.

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August 15, 2018, 11:01:10 AM
 #445

I can give several reasons why cryptocurrencies will never replace fiat. There is not up to 10% probability of this happening. Cryptocurrencies are getting better and famous but its operations are quite different from fiat. Fiat will always remain fiat.
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August 15, 2018, 11:07:01 AM
 #446

We really don't know what's going to happen but let's consider the fact that we are already on digital technology,so there is possibility that crypto will be the replacement of fiat in the future.

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August 15, 2018, 04:05:01 PM
 #447

there are several things in cryptocurrency like Bitcoin and Ethereum that make the general public object to using it extensively, let alone to replace the paper money. The level of public confidence in Bitcoin is an important element in assessing the possibility of a digital exchange tool replacing the print money.
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August 15, 2018, 04:28:47 PM
 #448

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.   
In my humble opinion we will not face any replacement for a few years from now if ever because cryptocurrency and the people around to be honest are far from being ready to use crypto currency as a payment method, what about you?

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August 16, 2018, 07:13:59 AM
 #449

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
The main reason is moving around government which is responsible for legalization or illegalization and why are they showing restriction is due to the interest they will lose after adopting the cryptocurrencies.

They will lose the benefits they take directly from banks and they do not want to lose that due to this they show restriction at crypto. However they should learn from those countries where the cryptocurrencies are performing besides banks without any difficulty.



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August 16, 2018, 09:56:33 AM
 #450

If we will accept that cryptocurrency will replace fiat, how will the government control its value so that there will be stability in a country's economy. I think we really need fiat beside cryptocurrency for a more progressive future. Thank you !
Cryptocurrency has gained popularity and has spread all over the world in different regions or countries where there people are enjoying this new way, is public friendly acts as investment source as well as transaction mode that costs less and frictionless and we do not need banks those do for us in days on high rate. Banks replacement is looking impossible as long as government does not think on it.
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August 16, 2018, 01:16:07 PM
 #451

Technological developments that are increasingly rapidly affecting all lines of life including in the financial sector, many transactions are carried out in the absence of cash, this is where crypto roles begin to replace fiat
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August 16, 2018, 01:17:33 PM
 #452

We can see that crypto is more and more known. But at the moment, crypto can not replace fiat. I think the odds for the existence of fiat currencies are quite large. I think there will be a fundamental change in the perception of the public or the current market system for this issue.

Crypto for now don't have chance to replace fiat currencies as only few people are supporting cryptocurrencies now. Maybe in the future we can hope that digital currencies will be accepted worlwide.
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August 16, 2018, 01:36:30 PM
 #453

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 have a point maybe someday this cryptocurrency will really change the world we used to live... It will bring us to a cashless society...  Buy before it happen it will faced a lpts of problem...  Maybe some country can adopt it but probably those who live on a third world country cannot adapt this changes easily....  But maybe in a right time we can all learn it...  But it will takes a lots of years...

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August 16, 2018, 01:37:18 PM
Last edit: September 19, 2018, 08:25:19 PM by Afonos
 #454

The problem is the safety of our account, i believe when crypto replace fiat it means the value will be more stable and the transaction could be fast as fast using debit card. But the security of our account is so vunerable, or maybe there will be a wallet that cant be hacked.
For large transactions, cryptocurrencies can be used, but can you imagine when a 7-year-old boy buys candy to pay using crypto?

What happens is clearly a payment problem. To replace fiat money, I think it's impossible. But to align with fiat money is very possible.

Only functions and uses can differ depending on needs. Crypto money is a sophisticated technology that can definitely add value to financial transactions because digital currencies do not have physical, but banknotes cannot be replaced because they are practical and have physical properties.
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August 16, 2018, 02:07:21 PM
 #455

If crypto currency manage to replace fiat currency which we know that is unlikely to happen. Crypto would rise and reach an exceeding high price value when it became a main stream currency and it would increase the number of wealthy crypto users. But some problems may arise like scarcity, rules and regulations and taxes.
for now crypto seems so good because this thing haven't get a lot of regulation and no taxes, but let see if there is regulation or maybe tax, is crypto still be famous? or it will be something similar to fiat but only in digital form?
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August 16, 2018, 02:17:07 PM
 #456

There are so many possibilities in here if the cryptocurrency will remove or replaced FIAT currency there are some people that doesn't want to use it because they don't know. There are some good deeds it can provide like the faster transactions to any people who use it. But before that happen for sure it will gonna be world discuss.
yes, discuss about the taxes and regulation, and at last crypto will not be a free as nowdays
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August 16, 2018, 02:17:58 PM
 #457

Although crypto usage is increasingly massive, but I am sure that crypto will never be able to replace fiat, this is because the state fully protects fiat so crypto cannot be replaced.
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August 16, 2018, 02:18:40 PM
 #458

I think crypto is being used by the elite to replace fiat.  Once the blockchain is in place we will all be tax mules as every transaction world wide will be caught.  Keep filling out the KYC guys.  You will end up enslaving yourselves and your children.  

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August 16, 2018, 02:19:57 PM
 #459

Unlike fiat currency, cryptocurrency cannot be debased by any government because it’s not tied to it. Even the governments cracking down on it are actually making it more valuable. Fiat currency can become worthless when a government gets replaced or falls apart. And it goes without saying that no government is immortal.
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August 16, 2018, 02:48:51 PM
 #460

Although it is unlikely that such a situation will occur in the near future, I think it is possible to realize this in the coming years. Even if the transition is not complete, countries may market digital versions of their existing money, and cash usage over time can be completely abolished. Of course, if this happens, this market will be affected because if all states start accepting crypt money as an official currency then regulation will also be necessary. That is why I think it is very unlikely that there will be such a situation in the near future, but I think that it will be considered in every detail in the long term and that the use of cash will end in the future. Of course, estimating time will not be easy, but I am not likely to see it happen in the next 20 years.
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