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Author Topic: Crypto replacing fiat?  (Read 3075 times)
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September 03, 2018, 03:44:49 AM
 #681

In my opinion crypto will never be able to replace fiat, this is because crypto is decentralized so that it cannot be used globally for direct transactions such as fiat, of course it is difficult and confusing for retail sellers when prices rise or fall by 10% per day.

I agree with you because people still using fiat than crypto and they prefer to use fiat to buy something. but this will change if all people know crypto and they know how to use crypto and they like crypto so crypto can replace fiat. maybe this will happen in the future as we see that the technology still in the development and everything is possible to happen.

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September 03, 2018, 05:22:55 AM
 #682

Moreover, cryptocurrencies are so technical that people needs to have knowledge in information technology especially in crypto before he/she can use it. Because cryptocurrencies can olny be accessed via the internet, then there will be  a problem that will occur if you happened to buy something and it's offline.

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September 03, 2018, 05:27:35 AM
 #683

When crypto replaces fiat, the government's treatment of crypto will be the same as fiat, starting with privacy that is not private anymore, ownership of crypto assets will be taxed, and no more decentralized

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September 03, 2018, 05:52:14 AM
 #684

Moreover, cryptocurrencies are so technical that people needs to have knowledge in information technology especially in crypto before he/she can use it. Because cryptocurrencies can olny be accessed via the internet, then there will be  a problem that will occur if you happened to buy something and it's offline.
I think the government is against this. well, I know some countries that prohibit the use of cryptocurrency as a means of payment in their country, but not for investment. so, I think, it's very difficult to happen.



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September 03, 2018, 07:25:01 AM
 #685

That might be come true ,that crytocurrency will replace fiat currency if the crypto will full activation and accepted worldwide, but I also think that it not totally replace fiat currency and fiat will be still be used in areas where there are no supply of internet access ,that cryptocurrency will be applied for .
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September 03, 2018, 09:37:10 AM
 #686

If that really happens, Possible concerns if Cryptocurrencies replace fiat.

Of course, there are also some huge challenges and concerns with this scenario. Should cryptocurrencies take over entirely, new infrastructure would have to be developed in order to allow the world to adapt. There would inevitably be difficulties with the transition, as cash could become incompatible quite quickly, leaving some people with lost assets. Established financial institutions would likely have to scramble to change their ways.
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September 03, 2018, 10:18:10 AM
 #687

Moreover, cryptocurrencies are so technical that people needs to have knowledge in information technology especially in crypto before he/she can use it. Because cryptocurrencies can olny be accessed via the internet, then there will be  a problem that will occur if you happened to buy something and it's offline.
I think the government is against this. well, I know some countries that prohibit the use of cryptocurrency as a means of payment in their country, but not for investment. so, I think, it's very difficult to happen.

In my own opinion, cryptocurrency will never replace fiat because not every people can invest on bitcoins or altcoins and they are still leaning on fiat which is the main currency of their own country.

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September 03, 2018, 10:41:46 AM
 #688

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, if fiat or paper money will be replaced by cryptocurrencies, I think its gonna be the same, but a lot easier, the payment system is gonna be a lot easier and more convenient. One more thing, when that time comes, having money is as good as having an investment program, because of cryptocurrencies volatility, it could be a a negative thing, but it also could be a great help for every person.

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September 03, 2018, 10:57:50 AM
 #689

The trend of replacing fiat money for crypto currency is already taking place. While the truth goes in parallel, but the crypto currency is preparing to take the lead. For this purpose, legislation is being prepared in a number of countries.
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September 03, 2018, 03:26:11 PM
 #690

In my opinion crypto will never be able to replace fiat, this is because crypto is decentralized so that it cannot be used globally for direct transactions such as fiat, of course it is difficult and confusing for retail sellers when prices rise or fall by 10% per day.

No, the cryptocurrency will become extremely popular but it will not replace traditional money. It can be used only when you have an access to the Internet - paper money is easy.

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September 05, 2018, 07:20:34 AM
 #691

That might be come true ,that crytocurrency will replace fiat currency if the crypto will full activation and accepted worldwide, but I also think that it not totally replace fiat currency and fiat will be still be used in areas where there are no supply of internet access ,that cryptocurrency will be applied for .
But that is not an easy thing to for every government around the world to recognize and accept cryptocurrency due to certain interests which may be political or the policy might not work in the presence of certain existing systems like that of the central bank with is built around fiat.

But lets suppose if crypto currency gets accepted by all the countries around the world, it will definitely give a huge blow to the demand for fiat and the medium of exchange will be cryptocurrency to a great extent.



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September 05, 2018, 09:21:13 AM
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When viewed from its positive impact, cryptocurrency at its base will represent fiat currencies in general. The first positive impact of the cryptocurrency's that it's capable of being used as a currency, with the level of complexity of increasingly sophisticated cryptographic algorithms, public confidence's also increasingly guaranteed to avoid risks such as counterfeiting.
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September 05, 2018, 10:05:51 PM
 #693

Maybe the bitcoin will be able to replace the fiat, but it will still take a long time and in any case it will never succeed completely.
Using bitcoin implies a technology that is unlikely to be accessible to everyone.

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September 06, 2018, 01:42:13 PM
 #694

That might be come true ,that crytocurrency will replace fiat currency if the crypto will full activation and accepted worldwide, but I also think that it not totally replace fiat currency and fiat will be still be used in areas where there are no supply of internet access ,that cryptocurrency will be applied for .
But that is not an easy thing to for every government around the world to recognize and accept cryptocurrency due to certain interests which may be political or the policy might not work in the presence of certain existing systems like that of the central bank with is built around fiat.
But lets suppose if crypto currency gets accepted by all the countries around the world, it will definitely give a huge blow to the demand for fiat and the medium of exchange will be cryptocurrency to a great extent.

It will be impossible. The people who do not want to recognize the crypto will always exist. Even if the government announces that the crypto is the main currency, they will start to protest against it.

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September 06, 2018, 01:53:33 PM
 #695

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.   

Honestly, I don't think that would happen in the future. Fiat cannot be replaced easily for a reason that many people and almost all the governments would protest to it. I cannot imagine the world that there are no fiat money or physical money because first of all not all the people have the same economic status and can access digital money or cryptocurrency easily. If tha would ever haopen I think the world and the people would face a lot of troubles like internet using.

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September 06, 2018, 02:31:58 PM
 #696

I am sure that Crypto will never be able to replace Fiat, this is because the use of Crypto is very limited and cannot be used like Fiat, this is what makes us never worry about the development of Crypto.

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September 06, 2018, 04:11:02 PM
 #697

I think crypto is being used by the elite to replace fiat.  Once the blockchain is in place we will all be tax mules as every transaction world wide will be caught.  Keep filling out the KYC guys.  You will end up enslaving yourselves and your children. 
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September 06, 2018, 04:19:35 PM
 #698


All this is fantastic !! Before the complete replacement of fiat for crypto will take more than one decade. The whole world progress is based on economic principles (trade, accumulation, etc.) and so that this replacement is necessary as a minimum to enable the use of digital technologies for virtually the whole population of the world. and this will not happen very soon. And such happiness as in one of the African schools where the teacher taught how to use Microsoft Office in drawings drawn with chalk and learning about this the company provided his RS school, is unlikely to repeat in most countries.


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September 06, 2018, 05:37:44 PM
 #699

The crypto are going through a difficult moment, so they will hardly be able to replace the fiat for the moment.
However, when they become easier to use - and above all more stable - there is a good chance of success

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September 06, 2018, 10:22:46 PM
 #700

I am sure that Crypto will never be able to replace Fiat, this is because the use of Crypto is very limited and cannot be used like Fiat, this is what makes us never worry about the development of Crypto.
I agree with you. This is hard to do because it has too many elements. And electronic money is not stable in the long run and it directly affects the market.

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