Crypto replacing fiat?

[biletskiy]

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 this case will happened it will have both advantages and disadvantages for us. As advantage, we can see how the government will spend the funds since anyone can see the amount of cryptocurrency do they have. As disadvantage of it the security of people will be unsafe since anyone can see how rich a people which can cause to robbed them or hacked them.

Meanwhile, mankind is not ready for the cryptocurrencies. All of us have been following the news about the Chinese girl who is trying to survive using only 0.1 BTC. Very few people are ready to be paid with the crypto.

[safarabela]

I think fiat currencies will not be easily replaced with bitcoin, although many think bitcoin will be able to replace fiat, but I think that would be impossible.

[maemunah]

Crypto will not replace fait but fair will support the crypto in terms of fair. Already in some major companies and stores are accepting are one of their payments.

it will not happen if crypto will replace fiat at any time because the government will not allow it for sure if fiat is replaced by crypto even though many stores now want to accept digital currency for payment

[10BTCaDay]

Progress does not stand still, therefore, the Fiat is replaced by e-currency, sooner or later it would have happened, and now everything is coming to this.

[powerglade]

Probably not gonna happen, you know why? Because the government doesn’t even legalised cryptocurries. And besides  cryptocurries has the same use as money,the only difference is cryptocurries are virtual money only used online or with internet.

[munify]

I think because crypto prices are not stable and that will make crypto not be able to replace fiat, and maybe crypto will be better able to become an asset than a currency and replace fiat.

[bangkit tri]

I think because crypto prices are not stable and that will make crypto not be able to replace fiat, and maybe crypto will be better able to become an asset than a currency and replace fiat.

in my opinion, if there are many crypto users in world, then government will take into account, especially many developed countries that legalize it. for price stability, i think in the government hand will be different

[Babyrica0226]

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 can't be deny that nowadays was very trending, but it doesn't mean they are destroying the essence of fiat of course not. Instead, both would exist, besides we don't know what will happen in the near future. Even though, there are some saying that fiat will disappear but it is still a rumors and the future and destiny is depend on the demand of the community I think.

[bitcoinminer45678]

I think because crypto prices are not stable and that will make crypto not be able to replace fiat, and maybe crypto will be better able to become an asset than a currency and replace fiat.

It is reality that bitcoin and all the crypto currencies are not being used as currency. People do not understand its importance and facilities very well but developed countries have accepted it already. Their citizens are enjoying purchases and payments in it to some extent. One day in the future, bitcoin will replace paper money.

[Edraket31]

I think because crypto prices are not stable and that will make crypto not be able to replace fiat, and maybe crypto will be better able to become an asset than a currency and replace fiat.

It is reality that bitcoin and all the crypto currencies are not being used as currency. People do not understand its importance and facilities very well but developed countries have accepted it already. Their citizens are enjoying purchases and payments in it to some extent. One day in the future, bitcoin will replace paper money.

We need to advance our thinking don't just see the current scenario right now, and we can observe now that there is really chance that bitcoin or crypto will replace fiat soon, why? Look at the ICO's many of them are using crypto now as a mode of payment, they are now using it to transact and a medium of exchange, they are thinking it now what more in the future? For sure fiat will replace too.

[oneblagobl]

If to enter crypto currency on the state level, then no problems with the law will exist. But, the crypt will have no anonymity too since any state won't resolve anonymity in payments in the territory of the state.

[yusupjatigumilar]

Crypto currency replaces fiat, I think it is still very far considering there are still many cons about the use of crypto currencies, crypto currencies are now developing very rapidly, but the development is also followed by the hackers which would be very detrimental to the holders, this is one of the things that makes crypto currency replace fiat will be difficult because many people are still afraid to use crypto currencies

[donadoni212]

I think that it will happen in the future that is still far away when it will happen, but in my opinion if bitcoin has reached its maximum value of 21 million, and the price of bitcoin will probably be stable, the government will use crypto and fiat currencies to be eliminated, in my opinion it will be better than fiat currency, using transaction digital currency is easier faster and recorded in the big book that is blockchain it will be safe for transactions where in any country.

[Escf4]

The crypto currency will be circulating in the area where there are strong supply of internet access ,which is the primary need to run cryptocurrency activities, but crypto will not totally be replacing the fiat currency ,because on the area around the world that do not have an adequate broadcast of internet access, will still use the usual fiat currency, so cryptos will not totally replace fiat currency.

[PitbullP]

It is impossible that crypto will replace fiat because fiat is centralized and it helps to maintain the economy system

[Jupeter]

Crypto will not replace fait but fair will support the crypto in terms of fair. Already in some major companies and stores are accepting are one of their payments.

I agree with you, cryotocurrency can be very popular but it is very impossible to replace fiat, i am sure that even in the future all people in this world will prefer to used fiat because it is more easy to used and it is not complicated unlike on crypto.

[dasana212]

Crypto will not replace fait but fair will support the crypto in terms of fair. Already in some major companies and stores are accepting are one of their payments.

I agree with you, cryotocurrency can be very popular but it is very impossible to replace fiat, i am sure that even in the future all people in this world will prefer to used fiat because it is more easy to used and it is not complicated unlike on crypto.

I've heard from my teacher that in the future the fiat money will not be used again, extinct. And I am sure it will happen.
So maybe when later the fiat money is no longer there then crypto will replace his position.

[mr.nby]

Crypto is absolutely capable of doing it and I don't actually doubt that it will replace fiat one day,  fiat can't fulfill all the needs of todays community.

Probably cryptocurrencies can not replace fiat. The entire world economy is based on fiat money. Krypto is still too small a part of economics, and despite gaining popularity, it will not become a significant element for a long time. In addition, cryptocurrencies would have to be regulated by law and centralized, and the entire market would have to be stabilized.

[paulk11087]

This will not happen immediately, but we are now receiving signals in a very specific way. Now people have taken a stance against the cost and physical return of physical money. Most of the investments will soon begin to shift into the crypto world in a completely logical way.

[max fray]

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?

It is unlikely that fiats could replace crypto - lack of control this will lead to total chaos where everybody will try to cheat on all others.

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.   

What is the difference here from the existing traditional banking system where the governments can track down the accounts of their citizens?
Why should this convenient system be replaced by crypto?