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Author Topic: Crypto replacing fiat?  (Read 4579 times)
Best Dreams
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September 16, 2018, 10:22:03 AM
 #781

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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September 16, 2018, 11:43:00 AM
 #782

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 if everything uses crypto we will be very easy, like any payment like electricity or insurance or whatever. people will be greatly helped and rewarded because of the crypto, but the problem is that cyber criminals are increasingly rampant and cannot be traced.
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September 16, 2018, 01:27:22 PM
 #783

There is no way for cryptocurrency to replace fiat since fiat is already part of the overall economic system world-wide which is really hard to replace even if it's going to be replace by cryptocurrency.
Clark05
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September 16, 2018, 01:39:12 PM
 #784

I don't think it will happen. Because fiat is still useful to our daily life . But cryptocurrency is still good to invedy to get more fiat . That is one of the good combination but in reality there's no reason to replace fiat for digital currency. There's difference uses of digital and fiat and both better and I hope both still become stronger.

balamuda
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September 16, 2018, 01:56:17 PM
 #785

In reality fiat can't be replaced with bitcoin. Bitcoin is still very risky if it becomes a currency because its value is unstable, and because it is not regulated by the government it will make it difficult for bitcoin to become a legitimate currency.
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September 16, 2018, 03:52:30 PM
 #786

I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
I think this thing would be happen but it will take time. If you really want to live in the future many people will accept to replace fiat as cryptocurrencies simply because it is very easy to use and you can really pay your bills easily and instantly. Furthermore, I hope that in the near future our traditional money will be still there because we can't replace and I think the best thing to do is to consider cryptocurrencies as real money.
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September 16, 2018, 03:54:12 PM
 #787

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.   
A lot of people are waiting for it to happen but still it would not be possible as crypto stay illegal on some part of the world. We should all be hopeful with the things that is happening in the world right now and analyze if having crypto replace fiat would really benefit us. It might end up destroying our world's economy or not so let us stay mindful about it.

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September 16, 2018, 03:56:38 PM
 #788

Potentially the end game for me is cryptocurrency since there is no price stability on it because of its evaluation change and in terms of its life state cycle, and yes it could potentially replace fiat.
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September 16, 2018, 04:09:35 PM
 #789

I personally do not agree with this view of you. Fiat is a government-recognized currency and a well-known currency in every country. Fiat's long history is also a testament to the history of the national economy. You give a crypto replacement for Fiat is unreasonable and I'm sure it will never happen even though the digital technology era is growing and Cryptocurrency is among them.

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September 16, 2018, 04:22:57 PM
 #790

it looks like crypto won't be able to replace real currency, because it's very strong in the real currency in this world. because crypto is a digital currency that cannot be made real

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September 16, 2018, 04:46:39 PM
 #791

I don't see any possibility of crypto replacing fiat at least in next 50 years because considering the current scenario we don't have impressive literacy rate which is an essential part of using cryptocurrencies especially when it comes to the technology. Thus the idea of crypto replacing fiat currency is practically not possible.

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September 16, 2018, 04:53:44 PM
 #792

Fiat will be abolished in the next year, and the movement toward crypto will begin in the next 3-4 months. wait and see friends....
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September 16, 2018, 05:08:47 PM
 #793

Though the crypto seems to replacing fiat; but the process will take long time.  There are majority people till date who have no access to internet or if they have access they do not know how to operate.  So until 100% population will not be using crypto it is impossible that crypto will replace fiat.
Speed will be slow but after a long time i see that around 90% transactions will be made through crypto and rest for emergency needs 10 % fiat will be there in use.

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September 17, 2018, 06:33:58 AM
 #794

Crypto will not replace fiat. Fiat was used by almost all people. Some people will use cryto together with fiat because it was more advantageous and helpful. The government can’t control crypto so they will force people on using fiat. And also to adopt on the growing popularity of crypto, maybe the government and banks will make their own digital currency that are centralized so they have control on it and make people use it.
Replacement of fiat into cryptocurrency is not possible and we should also look into these two differently because cryptocurrency help us out in modern way which is decentralized while fiat is a currency issued by government so they will not let it replace with cryptocurrency as they have high benefit from this way. It is good to have multiple sources of investment and payment.

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September 17, 2018, 06:41:28 AM
 #795

Though the crypto seems to replacing fiat; but the process will take long time.  There are majority people till date who have no access to internet or if they have access they do not know how to operate.  So until 100% population will not be using crypto it is impossible that crypto will replace fiat.
Speed will be slow but after a long time i see that around 90% transactions will be made through crypto and rest for emergency needs 10 % fiat will be there in use.
Agree, there are still many things to do if Crypto wants to replace Fiat, it is too early to say that crypto is worthy of being a fiat money, even though the transaction is now easier but each country has the strength to maintain their respective currencies. So I'm sure crypto won't be able to be adopted into fiat, plus because crypto is a digital currency that has no central and very anonymous currency.

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September 17, 2018, 06:50:05 AM
 #796

In about 10 years, maybe crypto will replace fiat. However, I think crypto will only replace 50% fiat, because cryptocurrency is actually more efficient than current currency.
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September 17, 2018, 06:51:30 AM
 #797

Though the crypto seems to replacing fiat; but the process will take long time.  There are majority people till date who have no access to internet or if they have access they do not know how to operate.  So until 100% population will not be using crypto it is impossible that crypto will replace fiat.
Speed will be slow but after a long time i see that around 90% transactions will be made through crypto and rest for emergency needs 10 % fiat will be there in use.
Agree, there are still many things to do if Crypto wants to replace Fiat, it is too early to say that crypto is worthy of being a fiat money, even though the transaction is now easier but each country has the strength to maintain their respective currencies. So I'm sure crypto won't be able to be adopted into fiat, plus because crypto is a digital currency that has no central and very anonymous currency.
well, we won't know what bitcoin will be after it reaches 21 million. so before that happens, I think it's still very far for bitcoin to replace fiat currency. yeah, but someday I hope crypto and fiat have the same position.



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September 17, 2018, 07:10:58 AM
 #798

Its not possible for cryptocurrency to replace fiat currency given that their functions differs.
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September 17, 2018, 07:18:23 AM
 #799

For me, I do believe that what you are saying is actually a big issue if the time comes that crypto currency is the currency that is being used world wide and fiat is totally gone, the first thing that is gonna be a great issue is the volatility, if cryptocurrency is gonna remain volatile then people are gonna be having lots of sleepless nights because they might just lose a huge amount of what they have in their wallets and that is a talk that everybody is gonna worry about.

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September 17, 2018, 07:18:37 AM
 #800

Cryptocurrency can disrupt the central bank and the international banking system. There will be a gradual development of new investment vehicles from the financial crypto. However, fiat has always existed and developed in parallel with crypto.
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