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Author Topic: Crypto replacing fiat?  (Read 4579 times)
Lukamovo918
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August 17, 2018, 10:49:53 AM
 #481

As soon as crypto replaced fiat, I think the tourism industry would benefit the most from the crypto
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August 17, 2018, 11:01:32 AM
 #482

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 no I don't think that cryptocurrencies will be able to replace Fiat currency even though cryptocurrencies have gained a lot of popularity among the people all over the world. This is because firstly, Fiat currency is way more popular than cryptocurrencies all over the world and then Fiat currency has way more users all over the world than cryptocurrencies have.

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August 17, 2018, 11:24:46 AM
 #483

yes.It is completely nice in terms of payments to make easier just like other convinience stores here in my country. The only effects that a consumer and costumer may encounter is when they have experience some sort of problem like maintainance of the utilities that they use and I think fiat may still exist.
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August 17, 2018, 12:04:35 PM
 #484

Crypto won't replace fiat but both improve the quality of money transfer but in future crypto tokens are future of money transfer
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August 17, 2018, 12:37:51 PM
 #485

It is difficult for BTC to replace fiat, because now if BTC is put into payment for goods and services, it will invest more equipment and technology, invest more human resources knowledge. This will be more difficult for the government
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August 17, 2018, 01:27:24 PM
 #486

My answer to that is, as of now we cannot comprehend things that might happen in the future. But as technology develops it might happen. Just like before we were not using cellphone and laptops but now only a few are not using it, almost everyone is using it. we don’t know how fiat will be erased but as of now let’s just move on with what we have and learn more along the way as things bring changes because of technology.

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August 17, 2018, 02:18:55 PM
 #487

I don't think, paper money will never be replaced by bitcoin.
because paper money is a legitimate tool in the eyes of the country used for exchange today, bitcoin is more suitable for investment tools.
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August 17, 2018, 03:11:51 PM
 #488

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 so.
Where did you get the source of information of digital currency completely replaced the conventional money/fiat?. Even though we see the potential advantages given by crypto currency, it still has weakness that cause it cannot be applied for main fiat on many countries. Only a few countries that accepted it as a alternative currency. But it doesn't replace the conventional money.

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August 17, 2018, 03:23:59 PM
 #489

I think if cryptos really replace fiat there will be serious problems that we will face, because dependence on cryptocurrency is dependence on the Internet, and imagine if an internet connection in one country is decided, what happens to financial transactions in that country? Therefore, I am of the opinion that crypto will not replace conventional currencies in the near future. What is likely to happen is that the blockchain will be used for interbank transactions.
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August 17, 2018, 03:29:21 PM
 #490

If crypto usage continues to increase then I am sure that someday crypto will soon replace fiat, this is because crypto transactions are easier, cheaper and certainly safer than fiat transactions.

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August 17, 2018, 03:34:14 PM
 #491

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 think it will be difficult for crypto to replace fiat, because fiat is supported by the government and it is been using all over the world, so bitcoin has a low chance to beat fiat currency. But if bitcoin has a chance to replace fiat every transaction will be using blockchain technology.l

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August 17, 2018, 03:36:21 PM
 #492

Fiats will at present exist even crypto will acknowledged as their genuine money everywhere throughout the world, crypto and fiat have a major contrast and there will be numerous contentions if crypto supplanted fiat. crypto is unpredictable and we require a settled esteem money to maintain a strategic distance from clashes in paying exchanges like we can't purchase a little sum stuffs like confections we require a fiat.
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August 17, 2018, 06:01:34 PM
 #493

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.   
We can just imagine that because I think it is impossible to happen, at least at near 10 years from now we are just not ready with our minds to Embrace the total replacement of cash with crypto.

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August 17, 2018, 06:24:46 PM
 #494

Fiat will never be replaced by cryptos, it can be used as an alternative way of payment and in other transactions but fiat currencies will always be used no matter how many countries and people accept cryptos. First of all, fiat currencies are used in different countries where governments can track and trace its distribution, while cryptocurrencies on the other hand, is decentralized and csn't be controlled by government. They can't put tax to those people who have cryptos in their wallet. Government will never allow cryptos to take over the world, not unless they can have total access to these cryptos.

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August 17, 2018, 06:30:19 PM
 #495

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 think it will be difficult for crypto to replace fiat, because fiat is supported by the government and it is been using all over the world, so bitcoin has a low chance to beat fiat currency. But if bitcoin has a chance to replace fiat every transaction will be using blockchain technology.l

Bitcoin will be an alternative solution for payment in the future along with the cryptocurrency which will replace fiat currencies. The government will probably introduce their own cryptocurrency which will be representing the country-specific fiats. Maybe not soon, but surely blockchain technology will be utilized in the future and cryptocurrency will be introduced as a major payment option in all sectors of the society.

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August 17, 2018, 06:58:28 PM
 #496

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 think it will be difficult for crypto to replace fiat, because fiat is supported by the government and it is been using all over the world, so bitcoin has a low chance to beat fiat currency. But if bitcoin has a chance to replace fiat every transaction will be using blockchain technology.l

Bitcoin will be an alternative solution for payment in the future along with the cryptocurrency which will replace fiat currencies. The government will probably introduce their own cryptocurrency which will be representing the country-specific fiats. Maybe not soon, but surely blockchain technology will be utilized in the future and cryptocurrency will be introduced as a major payment option in all sectors of the society.

Yes, most of the countries has the same idea in the future and that is the reason why japan is allowing cryptocurrency to flow in their own country.
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August 17, 2018, 08:35:39 PM
 #497

Crypto replacing fiat will never and ever be possible. Wr got to have separation of powers here. If it happens so,most people will be attached easily because the current amount you have in your wallet is publicly known.
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August 17, 2018, 09:20:04 PM
 #498

Crypto replacing fiat will never and ever be possible. Wr got to have separation of powers here. If it happens so,most people will be attached easily because the current amount you have in your wallet is publicly known.

Yes you are right,  cryptocurrency will not be able to replace fiat because people still needs paper money and not everyone has the capability of earning cryptocurrency so it will be still mandatory to use cash.

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August 17, 2018, 11:08:07 PM
 #499

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.
Crypto getting more popular now but it is still impossible that it can replace fiat because there are so many people all over the world and not all of those people will have knowledge about crypto especially the kid who also used fiat to buy some foods, maybe crypto can also be accepted someday but it can not replace fiat.

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August 17, 2018, 11:57:29 PM
 #500

It is possible that crypto will replace fiat someday if the crypto will maintain its market value.
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