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Author Topic: Crypto replacing fiat?  (Read 6211 times)
Renaldi blackspadeteam
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October 05, 2018, 12:26:01 AM
 #921

I think there is much to think about for Cryptocurrency if want to replace fiat money, expensive Cryptocurrency transaction costs and slow delivery will be a barrier to Cryptocurrency replacing fiat money.

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October 05, 2018, 06:02:49 AM
 #922

I think Fiat will still be using it a lot because Fiat is a currency that is easy to use and does not need electronics to use it because there are many parents who do not understand technology and of course cryptocurrency will not be able to change Fiat.


You're right sir, cryptocurrencies can't able to replace fiat because a lot of people or majority of them will continue to choose fiat in their daily transactions. Many of them don't even know how to use the internet to make online transactions so it will take more time before majority of the people will become internet literate. Fiat will later turn into virtual currency and will coexist with cryptocurrencies.

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October 05, 2018, 07:08:27 AM
 #923

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.   
If we see that in terms of convenience, crypto certainly has more convenience in making transactions, it shows that crypto is superior to fiat currency. but the problem is that not everyone can fully understand crypto and of course if the government simultaneously wants to replace fiat as a transaction tool, this requires understanding to the wider community, especially to people who do not understand how to conduct transactions digitally and this is not easy to make it happen to society globally.

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October 05, 2018, 07:53:05 AM
 #924

I do not see crypto totally replacing fiat anytime soon. Besides the concerns we are too much used to fiat to rapidly replace it. I rather imagine a co-existence here
Well, seeing the current situation we can say that fiat is here to stay and  bitcoin will be used side by side, but this does not mean that fiat will always rule.
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October 05, 2018, 09:28:50 AM
 #925

I do not see crypto totally replacing fiat anytime soon. Besides the concerns we are too much used to fiat to rapidly replace it. I rather imagine a co-existence here

Many people in different area dont understand about cryptocurrency. Crypto need more time to replace fiat but it will need government regulation. I am believe crypto will side by side with fiat money

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October 05, 2018, 09:37:55 AM
 #926

I think that today cryptocurrency is a speculative tool. And now they cannot compete with fiat money. I can't buy almost anything for Bitcoin. In my country, I can only spend bitcoin in some electronics stores. But they are very few

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October 05, 2018, 10:06:08 AM
 #927

they need to regulate cryptocurrency first.but in my opinion it never can change fiat with cryptocurrency.each fiat printed it need gold as the guarantee.this think can not crypto currency do,its have no guarantee commodity.although its need electricity cost to for each cryptocurrency mined.

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October 05, 2018, 10:45:45 AM
 #928

I always reading this kind of sentiment over and over again. And again, they will never replace our fiat. Our own currency represents and embodied one's country. Its a traditional way to circulate the money all over the world and this is the root of all the trading. What will happen to the people who dont have the access to online currency and just depend their transaction in physical form? This is far from happening so i guess we just have to continue the flow of the market today.

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October 05, 2018, 10:53:34 AM
 #929

they need to regulate cryptocurrency first.but in my opinion it never can change fiat with cryptocurrency.each fiat printed it need gold as the guarantee.this think can not crypto currency do,its have no guarantee commodity.although its need electricity cost to for each cryptocurrency mined.
so many types of crypto at this time, of course people will not agree with this because they are accustomed to using fiat compared to crypto, besides that there are still very many people who are confused about this system. well, but if the opposite, maybe it could. fiat that utilizes the crypto system to be transacted quickly.

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October 05, 2018, 02:10:25 PM
 #930

I do not see crypto totally replacing fiat anytime soon. Besides the concerns we are too much used to fiat to rapidly replace it. I rather imagine a co-existence here
very unlikely if crypto replaces fiat money in the near future. we know that if crypto wants to replace fiat money the government must be able to control everything. Fiat money has also become a public trust every day as a payment and transaction system.

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October 05, 2018, 06:39:00 PM
 #931


Although it will never replace fiat, it can peacefully coexist with the traditional money. I suppose that those people that stay online most of the time would prefer to use exactly the cryptocurrency.

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October 06, 2018, 05:44:45 AM
 #932

that is impossible, crypto cannot be accepted as a fiat currency because the value is too high and the value can go down anytime.
Replacement of Fiat by crypto currency seems irrelevant due to the importance of fiat currency we cannot neglect or ignore it. It will replace only if all governments of countries adopt the crypto coins and leave fiat but it will not happen because government has high interest and benefits in fiat currency as we know that banks are running on government issued fiat so they will not gonna changing it ever.
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October 06, 2018, 05:59:42 AM
 #933

I think this will happen, but not in the near future. Fiat will disappear sooner or later.
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October 06, 2018, 06:12:30 AM
 #934

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 crypto market would devide in to different parts like : private, public in my opinion. And if goverments decide to make it regulated they will choose between to make it private, public and maybe what blockchain would they choose
I think replacing fiat into crypto is really a hard thing, but in a slow way maybe people well slowly adopt this kind of payment change in the near future. The crypto is now slowly becoming more popular like 30% of the world today is now aware of crypto and 70% is still didn't even know it. Internet is really depend on the place and it is also limited to those who are living on the mountainous place maybe they don't used internet because and for some other people who can afford to buy gadgets maybe they didn't know this crypto exist. So I think it will run a decade or many more years for crypto to be use as fiat.
I think time will come when bitcoin will be  used more as a real currency and not just for trading. At that time we will see fiat being replaced by bitcoins.
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October 06, 2018, 08:08:40 AM
 #935

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 crypto market would devide in to different parts like : private, public in my opinion. And if goverments decide to make it regulated they will choose between to make it private, public and maybe what blockchain would they choose
I think replacing fiat into crypto is really a hard thing, but in a slow way maybe people well slowly adopt this kind of payment change in the near future. The crypto is now slowly becoming more popular like 30% of the world today is now aware of crypto and 70% is still didn't even know it. Internet is really depend on the place and it is also limited to those who are living on the mountainous place maybe they don't used internet because and for some other people who can afford to buy gadgets maybe they didn't know this crypto exist. So I think it will run a decade or many more years for crypto to be use as fiat.

Indeed, i think fiat always needed by people. Like we are on exchanger, crypto exchanger still value the price of crypto using fiat money or dollar because we spending using fiat money. I am believe fiat money still needed

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October 06, 2018, 08:26:17 AM
 #936


Although it will never replace fiat, it can peacefully coexist with the traditional money. I suppose that those people that stay online most of the time would prefer to use exactly the cryptocurrency.
It is an advantage to use now, less hassle on lines and with comfort ability. The only flows only is if the transaction we will be doing have crypto payment in their option.

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October 06, 2018, 08:33:10 AM
 #937

The fact that cryptocurrency in the near future will replace fiat money is quite possible, but in order for this to happen it will take 10 years, no less!

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October 08, 2018, 08:41:07 AM
 #938

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 crypto market would devide in to different parts like : private, public in my opinion. And if goverments decide to make it regulated they will choose between to make it private, public and maybe what blockchain would they choose
I think replacing fiat into crypto is really a hard thing, but in a slow way maybe people well slowly adopt this kind of payment change in the near future. The crypto is now slowly becoming more popular like 30% of the world today is now aware of crypto and 70% is still didn't even know it. Internet is really depend on the place and it is also limited to those who are living on the mountainous place maybe they don't used internet because and for some other people who can afford to buy gadgets maybe they didn't know this crypto exist. So I think it will run a decade or many more years for crypto to be use as fiat.
For me its impossible since crypto are volatile it can destroy everything even economy. People don't want to lose there money its price can decrease anything anywhere.
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October 08, 2018, 09:48:45 AM
 #939

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 crypto market would devide in to different parts like : private, public in my opinion. And if goverments decide to make it regulated they will choose between to make it private, public and maybe what blockchain would they choose
I think replacing fiat into crypto is really a hard thing, but in a slow way maybe people well slowly adopt this kind of payment change in the near future. The crypto is now slowly becoming more popular like 30% of the world today is now aware of crypto and 70% is still didn't even know it. Internet is really depend on the place and it is also limited to those who are living on the mountainous place maybe they don't used internet because and for some other people who can afford to buy gadgets maybe they didn't know this crypto exist. So I think it will run a decade or many more years for crypto to be use as fiat.
For me its impossible since crypto are volatile it can destroy everything even economy. People don't want to lose there money its price can decrease anything anywhere.
I think its impossible because fiat is the identity of a country,  but it can be used as other way as payment that accept crypto. Also cryptocurrency is unstable that's why it cannot be replace fiat, if crypto become currency of one country then it become fixed. And I think government willl not alllowed to replace their fiat, I think it can be an alternate as payment so that do transaction will be fast.

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Dimas99
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October 08, 2018, 10:26:38 AM
 #940

Personally, I will never see this happen. Crypto will exist but fiat will exist as well. They will co-exist because they have different features.

We both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?
in my opinion, everything can happen and everything is possible if the development of technology and the development of the era requires currencies that are the same as cryptocurrencies, surely fiat currencies will be replaced

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