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Author Topic: Crypto replacing fiat?  (Read 3484 times)
budiarmed
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September 10, 2018, 01:17:25 PM
 #721

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.
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September 11, 2018, 07:41:44 AM
 #722

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.

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Caubethamaner
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September 11, 2018, 08:16:20 AM
 #723

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.
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September 11, 2018, 08:30:56 AM
 #724

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
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September 11, 2018, 01:59:30 PM
 #725

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.

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September 11, 2018, 02:03:57 PM
 #726

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.

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September 11, 2018, 02:08:59 PM
 #727

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.
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September 11, 2018, 02:14:45 PM
 #728

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
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September 11, 2018, 02:19:07 PM
 #729

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.

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September 11, 2018, 02:24:07 PM
 #730

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!
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September 11, 2018, 02:25:45 PM
 #731

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
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September 11, 2018, 02:59:36 PM
 #732

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.

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September 11, 2018, 03:08:16 PM
 #733

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.

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September 11, 2018, 04:55:19 PM
 #734

I dont think it will happen in the future but bitcoin has a better future and there is no problem if bitcoin become the leading currency. Wink Wink
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September 11, 2018, 05:34:21 PM
 #735

I dont think it will happen in the future but bitcoin has a better future and there is no problem if bitcoin become the leading currency. Wink Wink
In my own opinion, Crypto replacing fiat right now is impossible, because some countries can't still compete on the technology of a certain country who has a lot of improvements in technology, but I believe that the day will come when a lot of countries will use Cryptocurrencies, because it's simply the future.

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September 11, 2018, 05:42:02 PM
 #736

with the existence of regulations that continue to be debated. I think it's quite difficult for Crypto to replace Fiat. but everything is possible, we see banks have begun to look at blockchain technology.

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September 11, 2018, 06:14:42 PM
 #737

If ever this thing happen.. Maybe when world under recession and dollar is at its lowest peak but at the current state i cant btc or any cryptocurrency replacing fiat at the moment

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September 12, 2018, 09:49:19 AM
 #738

The knowledge on cryptocurrency is on the rise at the moment, almost everyday new people are coming into the world of crypto. Crypto replacing fiat currency is a long term projection and this would not happen any time soon. Currently, crypto and fiat can co-exist in any part of the world.
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September 12, 2018, 10:22:17 AM
 #739

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.   

As my opinion there's no impossible things that happened in this world because of changes of our new technology. We are engaging in high tech experiment and maybe the evolution of money can be true because of changes. Digital money currency will soon replace fiat money as part of innovatios.


I don't believe that crypto will replace fiat money. The goals of crypto are completely different, and crypto has a small share in the economy. The world economy is too dependent on fiat money controlled by governments and financial institutions to make it happen.

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September 12, 2018, 12:04:39 PM
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maybe this will be very difficult and requires a long time and process for crypto currency replacing fiat currency, considering that in terms of infrastructure there are still many countries that have not supported this, especially in terms of legality / law because many countries are afraid to use crypto currencies as a transaction tool, it is indicated that it can make the fiat currency exchange rate weaken and have no price anymore. This will lead to an economic crisis.

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