Crypto replacing fiat?

[kulagina]

Crypto is not replacing fiat completely. Both of these can exist together and currently you need cash to buy any bitcoin.

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[aoihs00]

Thats not going to happen but lets just imagine the whole scenario for a movement. I guess in such situation it can happen that there will be increased money laundering and criminal activities. Don't ask why because crypto is pseudo-anonymous and I am pretty sure that these people can always find a way to perform their part of action.
Salaries and trades would be difficult to execute because each time we will need define the value and send the tokens accordingly to opposite person. More over it can also happen that a stage will come when tokens would be similar in all regards as the fiat used to be, the only thing that will differ is, it will be digital one.

[Impulseboy]

If cryptocurrency manages to replace fiat money then it means that the government and banks manages to get into digital currency, which means that they managed to control cryptocurrency. That is one thing I hope to never happen so as great as bitcoins are, I do not think it will ever completely eliminate fiat money.

[daarul50]

It would not be possible if the crypto would replace the fiat, where each country has its own fiat currency and has been used as a characteristic of the country. Maybe more appropriate when crypto is referred to as another option for payment methods other than using fiat. That way, the community has many choices to make various transactions according to their interests.

[HiringYou]

I don't think that it will ever happen.Crypto's are something to discuss nowadays.It is gaining popularity and people are really attracted towards the facilites it provides to it's users.Many countries have declared crypto's as legal in their respective countries and many are thinking to do it but I don't think that it will ever replace fiat.Fiat currency is being used by people since a long time.It is difficult for any other currency such as crypto's to gain the amount of trust that fiat has.Fiat money is easy to use and can be used anywhere without any need of internet conncetion.So I don't think that it will ever happen.No doubt crypto's and fiat will work hand in hand in future.

[lingwistiko]

Crypto replacing fiat is really hard to be realized when cryptocurrencies have major disadvantages against using fiat. For me, the very reason why crypto can't replace fiat is due to the lack of crypto's capability to be used during offline and its unstable market value.

[just_Alice]

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 all of the fiat money was replaced by digital I think the corruption and criminality would arise. It would be more difficult to track down transactions. No one will know who owes and what money, which might lead to a chaos. How do you expect accountants to do their job, if all they knew about a certain bank account would be a bunch of characters? And, also, if every fiat currency was replaced by digital, but still it would be the government, who regulates the system - then what about all of the alts and BTC, that we use now? Would the governments let people use it then? I don't think so. And what about the taxes? Anyway, I don't think that there's any point in changing all of the fiat money to cryptocurrencies. In such a case - either the whole economics will crash, or cryptocurrencies won't be anonymous and won't have most of the advantages that they carry now anymore.

[Oceat]

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.   

Before we start of proceeding to your assumption, first we have to establish in a it step-by-step process. I wouldn't say that fiat would be completely replaced with these crypto currencies we have today.

This statement requires a global discussion between presidents and other higher ranking elite people because it will disrupt most businesses in all over the world, if everyone is not fully aware of it.

That why we have more rules and regulations so that most of us could adapt to the changes or show to the people about of what is the digital currency.

[cedrixperez]

I dont think if will possible to happen crypto and fiat have a big differences and as we see crypto is volatile and fiat are not and this might the big factor why crypto will never replace fiat. I think in the future fiat is still exist and crypto will have a big role in our economies.

[AniviaBtc]

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.

There will be a huge debate about this thing for sure, and I know this will not happen easily. I actually don't see cryptos to replace fiat, if that is the case cryptos will become more centralize so for me its not a good idea to replace fiat. Better to make a healthy competition with it and let people decide on what to use base on their liquidity.

 The reality on the above topic thread posted is Crypto currency transaction is not yet fully accepted by a lot countries where we belong, Crypto as main currency used for transaction or Replacing Fiat is still up in the air. Look at the imposed Banned by countries whom critical about crypto transaction, not to mention the issues on Banned, Scammer, Hacking,  all of this are just few indicators that Replacing FIAT by Crypto is far from reality yet it has increase the growing number of Crypto investors.

[Onecrypto18]

Not anytime soon. In fact, I don't even see the possibility of this yet. No country will abandon its fiat system or national currency which is part of its symbols and legal tender for a form of currency that is not within their control. In that case, how do they plan their annual budget? Cryptocurrency cannot be used in planning budget. I am sure everyone agrees with me on this.

[Qeupe]

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.   

crypto and fiat money is something different and they have their respective roles. I may agree with the use of digital money for large amounts of payments but are small payments still need digital money? I think not, it would be quite inconvenient if it happened, everyone should carry gadgets everywhere, I think it's not as practical as carrying ordinary wallets.

[jacee]

If all of the fiat money was replaced by digital I think the corruption and criminality would arise. It would be more difficult to track down transactions. No one will know who owes and what money, which might lead to a chaos. How do you expect accountants to do their job, if all they knew about a certain bank account would be a bunch of characters? And, also, if every fiat currency was replaced by digital, but still it would be the government, who regulates the system - then what about all of the alts and BTC, that we use now? Would the governments let people use it then? I don't think so. And what about the taxes? Anyway, I don't think that there's any point in changing all of the fiat money to cryptocurrencies.

If ever cryotocurrencies completely take over and replace fiat, there is no way that the government will allow such as the things you are saying. There will be a way to track down digital money because there is no way that the government will not regulate it.

Btw, even with cryptocurrency we are still paying tax. Even at this moment.
And there is a very huge possibility that by the next few years, people will then prefer transactions made online or usung digital money for convinience. The world is fastly evolving and so is the technology.

In such a case - either the whole economics will crash, or cryptocurrencies won't be anonymous and won't have most of the advantages that they carry now anymore.

I can't imagine the whole economic crashing. Surely experts can do something to prevent this. As for the current adavantage and characteristics of todays crypto, I agree that soon it will change accordingly to what is best suited once crypto take over the world. I'm sure there will still be versions of crypto in the future which can be used with anonimity.

[Madara_Uchiha]

I think that there is a possibility that the crypto currency will replace the Fiat. If this happens, then in the distant future. Crypto currency can not quickly enter into everyday life.

[yonjitsu]

Fiat is already the means of buying products or paying for any services since the barter system centuries ago. I believe it will be a very tough situation for people across the globe to only use crypto because we also have to consider those area who don't have access to internet.

[BitBite5]

Cryptocurrencies will not replace fiat and there are many reasons for that.
First, fiat money can't disappear because every country and governement on the world is depending on it. Cryptocurrencies are volatile and unstable, usualy the number of coins is limited and you can't base your economy on such features. Fiat currencies will stay and will continue to be dominant and the crypto wil be used as an alternative.

[tony kurniawan]

Probably not, I think fiat will continue to exist because the fiat is more stable. Crypto currency will not replace the fiat, I think the crypto currency is more useful as an asset.

[ucingucingan]

crypto currency in my opinion like a sponge that absorbs water where fiat currency I assume as water, because we can see the day the movement of crypto currency is growing with a high price so that the value of fiat currency is nothing compared to the currency crypto

[Tinaw]

In the very long term it is possible. Not probable but possible.Although Cryptocurrency  are gaining a speeding momentum since their introduction to the world, there are claims of it having both advantageous and disadvantageous purposes.

[Kingsingle]

This can never happen, crypto is only a supplement to the economy, they are the currency for solving some difficult problems for the economy but they are not as liquid as fiat