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Author Topic: Crypto replacing fiat?  (Read 5454 times)
Osayo
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September 14, 2018, 06:31:40 PM
 #761

There is actually a possibility of cryptocurrency like Bitcoin to replace fiat. But this tendency is very low because the government won't let it happen. They cannot just throw away their fiat which is part of national symbol for bitcoin which they don't even know the owner.

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September 14, 2018, 06:35:34 PM
 #762

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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September 14, 2018, 07:04:24 PM
 #763

I believe that someday it will happen. But not now. Not everyone is ready for this today.

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September 14, 2018, 08:09:09 PM
 #764

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 opinion it's better if bitcoin is used as a payment tool. if bitcoin replaces fiat money, the price will be more expensive, besides that people will be easier in all payments.
Bitcoin replaces fiat money will not happen in the next few years but requires a very long time.
We cannot predict the future but this can be possible not now but later in the future because the demand of cryptocurremcies has been rising day by day.Cryptos can ne considered as the modern day money because more and more people are enrolling themselves in digital currencies.Cryptos have several advantages over the normal fiat currency like faster transactions.One can store any amounts of cryptos in their respective electronic wallets and only yoi have the details.
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September 15, 2018, 12:03:26 AM
 #765

For me, fiat is irreplaceable. Even in this modern or techy world, dont forget that, not everyone has the knowledge in using cryptocurrencies, especially the old ones, they prefer to use fiat than those digital ones.

At this moment, fiat unreplaceable because not many people understand about cryptocurrency. Beside that, crypto mass adoption is on early stage. I am believe if adoption become common in our daily life, people will start using crypto for payment because more secure

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September 15, 2018, 12:58:22 AM
 #766

you might be wrong! because there are still some countries that prohibit bitcoin altcoin and other cryptocurrency to replace fiat, I personally don't know the reason the government rejects bitcoin altcoin and cryptocurrency as legal money.
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September 15, 2018, 01:38:12 AM
 #767

A lot of crypto users claim that crypto is replacing fiat. Well, it doesn't appear to me like that. Both crypto and fiat have their individual uniqueness which makes each one strong in its own niche. Crypto and fiat will coexist to maximize the provision of enhanced payment methods. Remember, the Fiat has got the legal backing of the governments and it is also the final exchange pairing of every cryptocurrency.

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September 15, 2018, 09:57:42 AM
 #768

I would say more: the government will not only be able to see how much money you have, but also how you spend it: what kind of food, clothes, books you read. Everything will be digitized, the question is when this time will come.
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September 15, 2018, 11:22:02 AM
 #769

I don't have any idea about this news because as of now bitcoin and fiat doing their own uniqueness which is good that's why i don't really think about this way.

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September 15, 2018, 11:50:58 AM
 #770

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.   
Life would be more easy and more functional because the technology runs the world and our lifes existence is finer than  before

But for sure this will never happen as cryptocurrency needs Internet meaning there will be a medium before we can use it,not like fiat needs nothing but only the two involve,the payees and the payers

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September 15, 2018, 02:00:43 PM
 #771

 Shocked Shocked Shocked I never thought it would happen, but if it really happened then everyone would need a good internet network to make transactions, and that was the first problem that had to be resolved considering there are still many areas that have poor internet networks
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September 15, 2018, 02:24:11 PM
 #772

Even though many people are using crypto it will not be enough to replace fiat.
Replacing fiat is impossible for now but if it happens, I think it will be advantageous in some reason like everyone can transfer money in a faster way, can experience a secure and easier payment transactions.

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September 15, 2018, 03:46:30 PM
 #773

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.
Cryptocurrency are introduced in the market  since 9 to10 years ago. It has much more advantage then that of fiat currency but still has many demerits. Crypto currency are digital in nature and an stable Internet must need for ot assess but in many places Internet not available. Because of this its not useful in those places. Another thing it based on an complex algorithm and because of this many people doesn't understand it so doesn't believe on it. Its volatile nature is also creat problem in its progress and because of decentralised nature it is ban in many country.

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September 15, 2018, 04:35:16 PM
 #774

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 that it would be happened in the future, since fiat's can't be replaced. Bitcoin and other cryptocurrency is used for alternative money as digital currency which is still needed a true fiat. And if it will happened as in the situation you said, maybe I will not used it because it seems that it is unsafe since anyone can see your transaction and account, if it will happened I see that a better security is needed.
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September 15, 2018, 05:10:16 PM
 #775

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.



I think every country might also change the existing fiat into digital in the coming years if the existing crypto market will be more popular than before.
I think there is a possibility that it could happen in the near future but certainly not at this early stage. Each country has its own fiat currency which represents the economy of a particular country and is visible to people they can hold as their own.
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September 15, 2018, 06:40:31 PM
 #776

Fiat cannot be replaced by crypto. Crypto holders are only people who use the internet. People who are not internet users may not know about crypto. Fiat money will still be needed and crypto is only an alternative money.
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September 16, 2018, 12:34:06 AM
 #777

Cryptocurrency cannot completely replaced Fiat, it's near impossible rather both can work side ways.
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September 16, 2018, 01:50:33 AM
 #778

Crypto cannot be removed. The government can ban but crypto will remain as long as the internet is still there. The time will come when fiat money becomes defunct, so people will deal with crypto assets
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September 16, 2018, 04:02:06 AM
 #779

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.   

Maybe the disadvantages of this is that people will have access to see how much bitcoin is you are holding, which can put-up your life in danger. Maybe it is convenient to replaced the fiats, since not of all the people do have fast internet which is needed in cryptocurrency.

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September 16, 2018, 10:22:03 AM
 #780

I don't have any idea about this news because as of now bitcoin and fiat doing their own uniqueness which is good that's why i don't really think about this way.
Both are working according to their own function but I think we need crypto more than fiat as it has benefits as compare to fiat, old ages are now gone people are agree to buy bitcoin and save for long time, it is never get down for long time but it use to happen for very short time, we should buy more bitcoin and save for long time it will increase our money but holding money for long time will give you nothing but only waiting for long time.

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