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Author Topic: Crypto replacing fiat?  (Read 4579 times)
ylnar123
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July 23, 2018, 11:23:58 PM
 #21

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.   

Your presumption is far from reality. Fiat will always exist even with the emergence of cryptocurrency for it will be the standard of every nation's monetary institutions. I don't see cryptocurrency replacing Fiat even in the future.

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July 23, 2018, 11:35:20 PM
 #22

I believe it could happen.
We just do not see it now for the clouds are too thick to see the future.
We are still blinded by the traditional way and it seems it will go on for years or maybe a decade.

Now, okay there is a chance they could view one of your address but unless you claim it is yours then how they will know who is the owner.

If they did then it is your fault. You could send it to another address. But use mixers before that.

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July 23, 2018, 11:52:15 PM
 #23

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.   

Its not easy to give up the fiat for the crypto only , and i know that fiat is very important in the even in online or offline transaction. If ever happen i think government have some research to give completely understand the crypto in their country. Its very important that every nation knows the purpose of crypto not only the uses of this . Remember some crypto is using for the illegal purposes and that is one of the problem thats why some country are not accept crypto.

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July 23, 2018, 11:53:27 PM
 #24

Government is not easy to replace crypto as their main money, fiat there since long and already feel its function well. the government needs to think about it because the price of the crypto currency fluctuates.
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July 24, 2018, 03:47:17 AM
 #25

For that to even happen, everyone must have a handheld device or a fiscal system to do exchanges. Evdryobe also must have an internet connection one way or another to do their transactions and that could be a challenge since the internet itself has been with us for a decade or two and you cannot have an internet connection everywhere.

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July 24, 2018, 04:35:31 AM
 #26

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.   
Decentralized crypto currency can never under any circumstances replace fiat money. She is only able to squeeze a little the national paper money and can only walk in parallel with the national money. Other options simply can not be. States will not practically use the decentralized crypto currency, it will mostly be used only by people. States can effectively use only centralized types of digital money.

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July 24, 2018, 04:38:26 AM
 #27

If that scenario happened then there will be a lot of regulation just to make a simple transaction, the government won't allow us to make anonymous transaction and we will lose the freedom to used crypto currencies, there will be problem to balance the economic to evade inflation and deflation, and also need caution to prevent whales to manipulate the crypto price, fiat and crypto is the best combination, country with only crypto can causing a lot of trouble

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July 24, 2018, 04:54:16 AM
 #28

I believe it could happen.
We just do not see it now for the clouds are too thick to see the future.
We are still blinded by the traditional way and it seems it will go on for years or maybe a decade.

Now, okay there is a chance they could view one of your address but unless you claim it is yours then how they will know who is the owner.

If they did then it is your fault. You could send it to another address. But use mixers before that.
If crypto will be regulated by governments then we will lose the main point and feature of this system which is actually, the decentralization feature. Personally I believe that they will both coexist

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July 24, 2018, 05:59:27 AM
 #29

Future is too unclear to be seen and predicted. Therefore, I prefer to build a well-diversified portfolio based on your risk preference and investment goals. And it should include different assets among which are various currencies and projects. I can name you one good Token Sale. It is called Socratus.  It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem.
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July 24, 2018, 06:46:42 AM
 #30

It is going to be a revolution if bitcoin or blockchain technology replace our current fiats or financial system.  Bitcoin is going very well and have the potential to replace the current financial system but the corrupt politicians and political offices holders will never allow that except the citizens enforce it.

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July 24, 2018, 06:53:41 AM
 #31

There will be a lot of problems with crypto integration. History remembers the example. when gold was replaced with paper money (it was quite recently). People had to rebuild their minds, but we see the result.
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July 24, 2018, 06:53:54 AM
 #32

Perhaps the moment when the crypto currency will drive out the Fiat money is not far off. And we live in its vestibule.

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July 24, 2018, 06:57:40 AM
 #33

In the near future this will not happen unfortunately. Too many people are interested in concealing their incomes, and this is just the richest and most influential people. They will try to prevent the full integration of crypto into the international market. On the other hand, progress can not be resisted and crypto will take its time.

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July 24, 2018, 07:13:37 AM
 #34

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.   
When we see the advantages of a cryptocurrency, positive impacts will occur much, ranging from reducing money laundering, because as you say that there is a big ledger technology heated up crypto transactions recorded there. That's if we're talking about advantage, but we know cryptocurrency itself has a disadavantage, ranging from volatile, fee that is currently still quite expensive when compared in 2014, at this time I hardly imagine if it happened.

           
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July 24, 2018, 07:20:14 AM
 #35

I think not, fiat money will never be replaced by bitcoin.
This is a parable, you can see what the OP says.
Quote
Lets say crypto completely and utterly replaced fiat.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
Time alwasy change, you will never know what will happen in the future. Keep in mind, bitcoin is made for a payment system initially, but since many people use and make a volatile price is a reason why bitcoin to be use as a place of investment, this is the biggest missconception ever.

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July 24, 2018, 07:35:36 AM
 #36

banks, governments and big business will be affected by all forces not to admit it. The most terrible words for them are decentralization and transparency. The progess can not be stopped of course, but very many people will try to do this

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July 24, 2018, 08:00:03 AM
 #37

I think not, fiat money will never be replaced by bitcoin.
This is a parable, you can see what the OP says.
Quote
Lets say crypto completely and utterly replaced fiat.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
Time alwasy change, you will never know what will happen in the future. Keep in mind, bitcoin is made for a payment system initially, but since many people use and make a volatile price is a reason why bitcoin to be use as a place of investment, this is the biggest missconception ever.
I will hold to your words that time always change. What horse owner said when he saw car for the first time? Nobody will use this, or something similar, after decades horses didn`t disappear but who use them, who see them? In past century we have seen many changes, in my opinion its time for economy to change too. Crypto will replace fiat one day, that already started happen little by little and we are growing, in 10 or 50 years change will be complete.

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July 24, 2018, 08:08:15 AM
 #38

This will be possible in the future, but now we just need to wait more time.
we are stepping forward slowly onto that.
but now we are still in developing it and making sure everything will be perfect for that move.

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July 24, 2018, 08:12:09 AM
 #39

Cryptocurrency will never replacing the fiat because after globalised Crypto is a fiat. So this question is undermine know but current situation fiat is good for the all the countries because most of the countries are not Legalized in Crypto so once Legalized it will possible in market. In this forum all are crypto lovers so you should post in some other site you will get right answer.

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July 24, 2018, 08:23:29 AM
 #40

I agree! Fiat will extinct little by little and crypto or digital money will replace it soon. Some other gauge are banks now don't accept cash they are cashless banks now. soon all banks be cashless banks. So it is now time to invest in crypto for future use.
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