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Author Topic: Crypto replacing fiat?  (Read 6111 times)
darkphoenix2610
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October 15, 2018, 11:52:22 PM
 #981

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

Crypto will not be able to replace fiat for a long time. The entire economy in the world is based on fiat money, and cryptocurrencies are still developing and are a small part of the economy. High price volatility and other factors affect the ability to increase participation in the economy at the expense of fiat money.
I think it will have more time for that to happen, It is a long run for crypto currencies to replace fiat, It is true that it will depends on the economy of the country, I think it will be on 5-10 years before the crypto currencies will replace fiat.

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October 16, 2018, 02:42:33 AM
 #982

I think it is very unlikely that replacing crypto with fiat is a good thing because people are confident in using fiat and to change that completely is not easy. Crypto and fiat can all co-exist to help balance the financial markets. Replacing fiat is not required at this time.
even now it is very difficult to see that happening. so many types of crypto at the moment, and the most certain thing is the price is very unstable. the price changes sometimes so far in a short time. moreover not everyone accepts it. well, because crypto still doesn't meet the requirements to replace money.

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October 16, 2018, 05:22:33 AM
 #983

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 not a good thing for btc to replace fiat completely, because in my opinion it's better at this time where fiat is used for real-world payments, and cryptocurrency or btc is used for payments in the digital world, and of course with different rules. because it would be very difficult to really replace fiat as a payment instrument in the real world but it takes hundreds of years in my opinion CMIIW

Do not worry - it cannot happen ever. It is absolutely impossible for most people to use digital money. They simply do not ever open the Internet and know cash only.

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October 16, 2018, 05:30:33 AM
 #984

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.   
Cryptocurrency will never replace fiat. It is unreal and not necessary. A common currency will always be in demand and we cannot do without it. Yes, and it makes no sense to remove the usual currency, it is better to use the advantages of cryptocurrency and ordinary currency.
In addition, the cryptocurrency is generally not able to replace the national money, since the cryptocurrency has no relation to the economy of a particular state. She can only walk in parallel with the national money.

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October 16, 2018, 07:34:12 AM
 #985

Fiat is more able to survive because fiat gets support from the government, crypto is very fluctuating so it will make people choose fiat to become a currency.
Seriously it will never happen crypto can't replace the fiat.It will remain Internet's currency not global currency. Both fiat and crypto are required in order to improve economy.
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October 16, 2018, 07:53:40 AM
 #986

There are always a possibility that Crypto can replace fiat because we can't predict the future many things are happening just like how we improve our economy many changes are always to occur. And as we can see that if all people are involved in Crypto they may take it granted because of it's high chances to help a person to grow his /her investments in a chance.

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October 16, 2018, 08:53:05 AM
 #987

There are always a possibility that Crypto can replace fiat because we can't predict the future many things are happening just like how we improve our economy many changes are always to occur. And as we can see that if all people are involved in Crypto they may take it granted because of it's high chances to help a person to grow his /her investments in a chance.
i am agree with your point,anything could happen in this world.even much people said that cryptocurrency could not replace fiat.but when mass adoption time come we will see cryptocurrency usage rise extremely.

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October 19, 2018, 07:46:15 AM
 #988

There are always a possibility that Crypto can replace fiat because we can't predict the future many things are happening just like how we improve our economy many changes are always to occur. And as we can see that if all people are involved in Crypto they may take it granted because of it's high chances to help a person to grow his /her investments in a chance.

No one, even the best, perfect cryptocurrency can ever replace fiat. Many people cannot simply use the crypto for many reasons - the Internet absence, illiteracy, even religious position. It will not happen.

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October 19, 2018, 08:11:10 AM
 #989

Crypto is only a threat to the fiat currency when hyperinflation occurs.
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November 04, 2018, 02:39:12 AM
 #990

We can see that crypto is more and more known. But at the moment, crypto can not replace fiat. I think the odds for the existence of fiat currencies are quite large. I think there will be a fundamental change in the perception of the public or the current market system for this issue.
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November 04, 2018, 02:45:17 AM
 #991

We know that crypto is very popular in online industry but this is cannot replace the fiat but its only a support if there are something problem in fiat like as if you dont have cash you can use crypto as a payment in more online business. Crypto is best partner of fiat because of the different uses of this and fiat is also important in many aspect even in offline or online.

fipper
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November 22, 2018, 03:02:17 PM
 #992

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?
Your opinion that you convey is very true, but everything can happen all the time along with the development and technology, of course, because currently no one can predict for sure the development of crypto currencies.
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November 22, 2018, 03:04:49 PM
 #993

I think it's the same. They only eliminate the physical, but the value is fixed. If the dollar produces dollar tokens, of course the value is the same. They will also be controlled by central banks and the government.

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November 22, 2018, 03:18:10 PM
 #994

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 crypto will ever replace fiats. Why should a new fianancial system be introduced into the world's economy is there's already one (fiat-based system), which is functioning rather successfully?
Governments will always feel suspicious towards any decentralized incentives, so I think crypto will be more and more regulated and will eventually lose its initial benefits like anonymity and freedom to use one's own funds.

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November 22, 2018, 05:06:08 PM
 #995

No, it's not going to happen. If that happened it would be a chaos and it doesn't even fit to replace flat because volatile and everyone that holds this cryptocurrency would be lost at the end because volatile. That's why some countries ban Crypto instead to avoid those issues.

 
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November 23, 2018, 09:34:09 AM
 #996

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

Crypto will not be able to replace fiat for a long time. The entire economy in the world is based on fiat money, and cryptocurrencies are still developing and are a small part of the economy. High price volatility and other factors affect the ability to increase participation in the economy at the expense of fiat money.
I think it will have more time for that to happen, It is a long run for crypto currencies to replace fiat, It is true that it will depends on the economy of the country, I think it will be on 5-10 years before the crypto currencies will replace fiat.

I don't believe that it would be possible. Replacing fiat money is a very long process that must be followed by the approval of governments, banks, etc. The only option that may occur in the near future is the withdrawal of paper money from circulation for non-cash transactions.
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November 23, 2018, 09:48:59 AM
 #997

The news said that China is planning to release a digital version of their currency. It's not gonna be a cryptocurrency for sure but will not be issued under any tangible form either. I believe 'e-yuan' is how they call it, and it will have the same value as the yuan.

Not sure how China is going to execute that, but it seems that they are already trying to replace paper money but still not very fond of crypto. There will be an even deeper monitoring of payments and transactions, so we're probably not going to see crypto replacing fiat in China any soon.
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November 23, 2018, 01:27:39 PM
 #998

No, it's not going to happen. If that happened it would be a chaos and it doesn't even fit to replace flat because volatile and everyone that holds this cryptocurrency would be lost at the end because volatile. That's why some countries ban Crypto instead to avoid those issues.
Agreed, crypto is too volatile, it really can not fit for transactions outside of real life, transactions in the world need a more stable, direct and more popular tool, fiat owns all that. In addition, this replacement is almost a revolution, breaking the old rules and creating a new environment, and with such influence, chaos will happen as you say, particularly the government can not solve this problem, crypto is not under their control, and there is no reason for the government to allow that to happen, they do not want to have such trouble, they will prohibit and limit the scope of crypto operations to the lowest level
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November 23, 2018, 01:47:05 PM
 #999

it will never happen because crypto is still in the eyes of many countries in the world and the government will also never remain silent if the fiat currency is replaced by a digital currency

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November 23, 2018, 02:56:05 PM
 #1000

Fiat currencies are used widely by almost all people in this global world. Cryptocurrencies can never replace fiat currencies inspite of the fame crypto has gotten some years now.

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