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Author Topic: Crypto replacing fiat?  (Read 4552 times)
nur rochid
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September 11, 2018, 02:19:07 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.   
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
 #722

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
 #723

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
 #724

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
 #725

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
 #726

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
 #727

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
 #728

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
 #729

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
 #730

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
 #731

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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ucingucingan
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September 12, 2018, 12:04:39 PM
 #732

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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September 12, 2018, 01:19:26 PM
 #733

One day it will do that, surely. This process may take really long but no doubts that it will happen, fiat isn't suitable for 21st century.

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September 12, 2018, 02:01:31 PM
 #734

Do you like fiat or crypto? I like fiat and dollars because I want to have a more convenient and diversified exchange of goods if I can trade two
Himanshu111
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September 12, 2018, 07:00:26 PM
 #735

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.
No I do not think so that this can ever happen even in the future.It is nearly next to impossible.All the people depend upon Fiat currency for the day to day transactions.Fiat currency is accepted internationally and it is also backed by the central banks and government.On the other hand cryptocurrencies are banned and are decentralized.They are also very volatile and hence risky.They need some information and basic knowledge to get operated.

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September 12, 2018, 07:45:28 PM
 #736

In all honesty, crypto cannot actually completely replace fiat. It might lead to total crisis and possible shut down of economic activities in some places with poor electricity especially in the poorer countries.
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September 12, 2018, 08:22:54 PM
 #737

In all honesty, crypto cannot actually completely replace fiat. It might lead to total crisis and possible shut down of economic activities in some places with poor electricity especially in the poorer countries.
Bitcoin serves as just a tool or alternative way to fiat but not to replace, at least not too soon that is why we need to keep informing the public as crypto serves as multi function, an alternative way as well as an investment.

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September 12, 2018, 10:19:12 PM
 #738

Crypto currency will never replace fiat. So only those who do not understand the fundamentals of the economy can argue. No government will ever decide to replace its national money with a decentralized crypto currency. Such a decision would be disastrous for any state. National money is always tied to the economy of its state, otherwise it can not be. Decentralized crypto currency has no state of its issuance, is not secured by anything, has great volatility in the price and is almost impossible to control by the state. These and other reasons will not allow the national currency to be replaced by a crypto currency.

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September 12, 2018, 11:35:08 PM
 #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.   


I think in a long run crypto will replaced fiat money. I know many of us think that this could not be happened but as what we have see and observe there's is nothing imposible in this world,  And I believe the evolutions, because our world has engaging now in inovations in a high tech creations because we are now in millennial time.
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September 13, 2018, 01:20:19 AM
 #740

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.
In my opinion Thats not gonna happen, fiat will not ever be my replAced by crypto. I think bitcoin will become a legit currency  but not to the point that bitcoin will replace fiat. Because we all know that not all the country will accept bitcoin.

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