Crypto replacing fiat?

[seniorita]

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.   

It's hard to imagine, many commoner/old generation not really know about technology especially about cryptocurrency, this is case from my country. It's better to educate all of them about cryptocurrency before going to next step.

[jaaeeeyyyy]

Crypto cannot be used in traditional markets and even crypto cannot be used in the purchase of cheap items such as candy. If you buy candy for the 5cent price and a transfer fee of 25cent, it is a great loss to buy a candy using crypto. Fiat will still be used as a payment tool and crypto is only used in-store payments that accept crypto

Fiat is also suitable for investment. Both fiat and crypto currency has the same characteristics. It is just that fiat is what people around the world uses and that makes it more suitable. But if the time comes that people will start using crypto currency in doing daily transactions, it can probably replace fiat especially when doing international transactions.

[liliano]

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 think otherwise, because crypto is decentralized, it is able to pay for almost all goods globally if it is agreed on a payment instrument. Crypto currently has a very volatile value and it is difficult to provide a stable value because there are many price settings by whale and certain parties who use the open market for crypto

[StellaMakk]

Cryptocurrency will not replace fiat money. But meybe replace a credit cards. it's very believable...

[Otsu]

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.   

It's hard to imagine, many commoner/old generation not really know about technology especially about cryptocurrency, this is case from my country. It's better to educate all of them about cryptocurrency before going to next step.

I agree. To think that not all people in the world understands well about the use of digital currencies, it would be better to teach and help them first to learn the basic principles and guides about this coins. By doing this way, it can give them enough knowledge and ideas on how to handle with this kind of investments before replacing the use of fiats.

[grey007]

if equate fiat to the crypt you can buy today 1 piece of bread and yesterdey - 2 piece of bread)
I think people will be against it.

[Lexurdania]

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.

Hard to replace fiat money with bitcoin or others cryptocurrency. Bitcoin is decentralized system and every country have their own advantages on economy. But bitcoin can be international currency if most country agree to use it for global trade

[budiarmed]

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 crypto will replace fiat I don't believe it will happen, crypto is unstable in price and it will be risky if it is the only currency. Fiat will still exist and will still be used as a payment method.

[PizzaBTC]

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

Cryptocurrency especially the Bitcoin as a base currency can not replace the fiat currency because fiat currency is controlling by government of a country and they do not want to replace this system by any other due to the benefits they get through this and making their economies better with it. Crypto currencies are helping us out and we do not have to replace it with fiat as it is decentralized and we do not need any replacement.

[Caubethamaner]

Changes that brings advantages and disadvantages and I believe tracing the account of someone holding big amount of crypto and forcing him to send it by threatening  could be one of the situation that we can see. But I believe that h'm this kind of situation though possible there will also a great new law system to protect the crypto holders.

[mak lessoh]

fiat can never be replaced by anything, even crypto will not be able to replace it, crypto is just a profitable investment place for many people in the world

[Charot12345]

Crypto will not replace fiat. Fiat was used by almost all people. Some people will use cryto together with fiat because it was more advantageous and helpful. The government can’t control crypto so they will force people on using fiat. And also to adopt on the growing popularity of crypto, maybe the government and banks will make their own digital currency that are centralized so they have control on it and make people use it.

[Bitcoinbitcoin0909]

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.   

We are all looking forward on seeing crypto replace fiat someday but we should first pay attention on the fact that crypto is not yet accepted globally. There are countries who banned it already and their reason usually is that they see it as a threat to their economy. Having that, it just mean that it would take up a lot of time and effort before crypto replace fiat.

[Motokonomo]

I can admit that in several years, many people would prefer using the digital money for its convenience and the high speeds of operations. Meanwhile, cash will live as well.

[sarungmen]

if that happens directly to the stability of the economy, of course, this is a big change, the banking balance and fiat money will sound very impossible and will cause chaos in my narrow mind, but if that happens, people will try to adapt even though it needs a process with time long, but I'm not pessimistic because what I see is that our society is now getting used to change and always wants something new

[nur rochid]

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.   

We are all looking forward on seeing crypto replace fiat someday but we should first pay attention on the fact that crypto is not yet accepted globally. There are countries who banned it already and their reason usually is that they see it as a threat to their economy. Having that, it just mean that it would take up a lot of time and effort before crypto replace fiat.

[Dvibes]

Like you rightly pointed out privacy might still be an issue for us to witness wide crypto adoption over fiat even though I still feel that this might not happen because both have different features which are useful in different context.

Another issue that might hinder crypto adoption over finat is high volatility!

[sunflower_11438]

it takes a few years from now for that to be realized
if the government makes a fixed supply currency like bitcoin there will be massive deflation

[Bella Thorne]

I can admit that in several years, many people would prefer using the digital money for its convenience and the high speeds of operations. Meanwhile, cash will live as well.

The future of crypto is bright that's why in the future all countries will accept crypto as our main curremcy and i will hope that it will happen soon, and i am also hoping that people will just used crypto for good purposes and not for illegal purposes.

[Gramna]

To be perfectly honest, I really think this crypto entirely replacing fiat era will never happen. I know how crypto currency is helping the world's economy and all, I also believe on its future and all the good things that it brings but then I do not think any government will allow it to take over their fiat. I think they will allow co existence but never an entire replacement.