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Author Topic: Crypto replacing fiat?  (Read 4579 times)
Tomwatson88
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August 20, 2018, 10:15:18 AM
 #561

In my views, cryptocurrency replacing fiat is not too realistic. If we consider how much time we could fully develop cryptocurrency then we could say it would take a decade or more for it to be accomplished.
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August 20, 2018, 10:48:58 AM
 #562

I think it is not possible to replace the fiat with the cryptocurrency because cryptocurrency is very new to fiat world and it is not recognized by the governments. Still, there are many people who don't have a strong belief on Bitcoin because it is completely digital currency and that to online currency.

Cryptocurrency is boosting its popularity and high usage in the market but I don’t think cryptocurrency could fully replace fiat money, for not all the people are into crypto world yet but in the fiat world. Not all people are comfortable in the yse of digital currency.

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August 20, 2018, 11:00:44 AM
 #563

The advent of cryptocurrency could be the beginning of a new way to exchange value. This development can easily be associated with how email disrupted the post office. Email broke the post office’s value chain system since it introduced a new order where you could send a letter without a stamp. Similarly, cryptocurrency enables you to send or receive money without an intermediary. This bank-less system will ultimately do away with banks.
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.
Regardless of how governments or investors feel about the impending switch from conventional currency to digital forms of currency, the wave of change is unrelenting.
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August 20, 2018, 11:57:06 AM
 #564

It is not easy for crypto to pass fiat money, I think we will have to wait until 2020 for the cryo to completely replace the fiat money, to make the money match the material value of human.

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August 20, 2018, 01:05:08 PM
 #565

It is not easy for crypto to pass fiat money, I think we will have to wait until 2020 for the cryo to completely replace the fiat money, to make the money match the material value of human.
i think it takes more time than you predicted. for the time being government will not be able to leave paper money because of the symbol of the country. and many governments are still looking for policies for BTC

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August 20, 2018, 01:20:26 PM
 #566

It is not easy for crypto to pass fiat money, I think we will have to wait until 2020 for the cryo to completely replace the fiat money, to make the money match the material value of human.

Meanwhile, I think crypto will probably never be able to completely replace fiat money. Crypto will probably make up most of the transactions someday, but there will certainly be more and more opportunities like fiat money. Credit cards also can not replace the normal paper/fiat money and so could it be with crypto. But the next few years will show us how our money will continue.  Wink


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August 20, 2018, 01:36:58 PM
 #567

Crypto might emerge as better than fiat, but i don’t see fiat being removed later on. It is the need of many. I still see the crypto and fiat go together. They say technology is improving but if the poor can’t be improved in many countries where fiat is their only currency fiat will remain. For how can they go digital if they can’t even buy food to survive.

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August 20, 2018, 01:41:16 PM
 #568

crypto and fiat are created for trading as well as for human needs, so if one of them fails, the currency market will not be as perfect as if there were two.
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August 20, 2018, 02:18:00 PM
 #569

Crypto currency can not totally replacing the fiat money , because cryptocurrency can be working best in the advance places where internet is very abundant, while fiat will be obsolete in this
places, fiat money can still be used in places where the internet is scarce like urbanitic places, so crypto can be totally replacing this fiat money.
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August 20, 2018, 02:24:44 PM
 #570

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. I think that instead of replacing fiat, I would more foresee cryptocurrencies being in the same level playing ground as fiat. I say that because fiat has more experience and history under its belt, and so, many people, especially in their own localities and countries would trust to deal with them more even in the near future. Although cryptocurrencies have been gaining its must needed support, fiat would still be the traditional and more well-received between the two. So, instead of cryptocurrencies eating up fiat out of existence, it's better to see them compete.


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August 20, 2018, 02:52:58 PM
 #571

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.
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August 20, 2018, 03:10:29 PM
 #572

If the government turns their fiat into cryptocurrency, it requires high technical expertise to create and eliminate one bit of cryptocurrency, so that the country will be very dependent on a group of IT experts who are able to cope with the demand of cryptocurrency, so that maintenance costs are high potential and assessed risk high.

I think that is one of the problems that we will face and also the direct impact if crypto really replaces fiat, or the government turns their fiat into cryptocurrency.

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August 20, 2018, 04:35:10 PM
 #573

I hope that someday the transaction system can turn to crypto, this is because transactions with Crypto are proven to be more effective, cheaper and certainly safer than transactions using Fiat.

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August 20, 2018, 04:47:33 PM
 #574

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 this current era, it is not yet possible because government will not let the cryptocurrency to replace fiat. The government are aware that they can't control the cryptocurrencies becuase of the characteristics of being decentralize and volatile.
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August 20, 2018, 04:57:38 PM
 #575

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.   
The people in our society is the key for the digital society. There is a big possibility that the digital society will happen if the people in our society will patronize cryptocurrencies. If you will observe the society, its already happening.

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August 20, 2018, 05:35:15 PM
 #576

I think it's very unlikely that crypto will replace fiat currency, fiat is easier to use as a payment medium and also has a more stable value. I am more confident that crypto will be used as an asset.

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August 20, 2018, 06:21:16 PM
 #577

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.   
Government and people in our society will not let cryptocurrency to replace fiat. The fiat currency have important functions in our economy, the economy will be crashed if the cryptocurrency will replace fiat currency. There should be balance between fiat currnecy and cryptocurrency.

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August 20, 2018, 06:44:11 PM
 #578

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 surely take up a lot of work before happening knowing that fiat is the one that we've used ever since and the system of it is already fixed and proper. We will all be adjusting if ever crypto will replace fiat and we should also have crypto legalized on the whole world first before it replaces fiat for a better and convenient life.

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August 20, 2018, 07:17:22 PM
 #579

I think it's very unlikely that crypto will replace fiat currency, fiat is easier to use as a payment medium and also has a more stable value. I am more confident that crypto will be used as an asset.

if crypto gets official regulations, then they will educate people with various uses through e-transactions in stages, physical currencies will be replaced soon in the next 10-20 years. the level of comfort in digital money is stronger and more efficient and in the end there will be many people who are familiar with it.
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August 20, 2018, 08:01:19 PM
 #580

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 that we can forget about it for a few years, because in my opinion the things that global are not doing that fast, 2 years ago almost nobody knew about cryptocurrency and now you want it to replace fiat Smiley

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