Crypto replacing fiat?

[Loopper]

I am very sure that time will happen, the old concept will change with a new concept. the concept offered by cryptocurrencies with its Blockchain technology will greatly help the lives of humans in making transactions and others.

indeed evolution will always play a role in life, with time, of course new things will emerge and be used by humans, leaving behind old habits. but for that I think it takes a long time, because there are many problems that must be faced

that's right, but we also have to see that the current development has no potential to replace fiat. in fact cryptocurrency must be very stable before crypto replaces fiat, moreover there are so many things to think about.

maybe when all countries legalize it, then the cryptocurrency will be stable and not fluctuating like today. but on the other hand, of course government will regulate somewhere, maybe it can be in an ico setting for example, so that not a lot of fraud can occur. even now there are many ico scams

This year was the worst in my opinion about ICO because all of them almost deceived everyone about the developments they did and didn't produce anything until the end of December. next year this should never happen again and increase ICO's confidence to be followed by everyone in this forum.

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[logic123]

my opinion is because many people still didn't know about cryptocurrency and all so it and many countries are not allowing for this and one more important thing is it is decentralization....

[ginobitcoiner]

Crypto currency does not replace the FIAT currency for various reasons, not even one Nera replace their FIAT currency with crypto currency. even I am sure the FIAT currency will never be replaced at any time

[lamadu3]

This is unlikely because the purpose of crypto is to make online exchanges fast, safe and anonymous. It's not a complete replacement for Fiat and especially many governments have not yet accepted the crypto as legitimate so I disagree with this view of you.

If there is some economic crisis or we see US dollar under lot of pressure, then would be a time people will be thinking of keeping their money in some trust able source and that will be time when bitcoin will became real currency and eventually replace the fiat.

Many steps must be corrected if the virtual currency will eliminate paper money because everyone understands and knows everyone until now. Banknotes can't be replaced at any time.

Even the best cryptocurrency cannot replace fiat. Cash and credit cards are very useful (especially, cash) and convenient. You can go to any store with traditional money and you do not need the Internet.

[Menawi12]

I am very sure that time will happen, the old concept will change with a new concept. the concept offered by cryptocurrencies with its Blockchain technology will greatly help the lives of humans in making transactions and others.

I am prefer like the idea crypto will side by side with fiat money. Its hard to replace fiat money because its already in our economic system and its run for many years. Beside that, not many people have a knowledge about cryptocurrency

[Chairul Muttaqin]

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.   

World will become more transparent, before I talk about our life, I will start with government first. Many corrupt government member that will be afraid to do corruption because the transaction will be easily tracked, then there is no more bank which hold very huge of money to lend. This situation will make our economy become better because the cycle of money will be faster. Yes there will be very big leakages in money cycle but atleast less people will suffer because of pay debt interest in bank. And about our life, we will find any of our transaction is easy, fast and practical. No one can force you to send your cryptocurrency, there is law enforcement that will safe you. If you meant is government who want you to pay taxes then it will not gonna happen because the corruption activity will be less happen and country's money will be safe and people will know how many cryptocurrency that the country has, so government can't force rhe citizens to pay taxes if the country still has a lot of money.

[steampunkz]

Nowadays right now, this is hard to happen, It will depend on the prices of crypto's especially bitcoin, One the main problem right now is the manipulation of whales and greedy traders.

[jeremyscott]

why does crypto have to replace fiat? they have their difference and they can co-exist

[Frobeek]

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 do not think that converting fiat into cryptocurrency is necessary good thing to have, but I think that something like that could happen in future. Also, I would not like to use fiat cryptocurrency which is inflationary just like fiat, with governmental "printing" money from thin air.
I would like to have paper fiat currency for an option.

This is not only your thinking but it is need of the day, it is modern and facilitated era people are very busy so no one would like to go leave work and buy grocery or pay bills standing in lines when they have better option to buy online using digital money or crypto currency so to be honest I can see the dark future of fiat money.

The banknotes are seem to be unable to replace because it is backed and supported by the governments which are the stronger power of the finance but it is also true that when the governments came to support the crypto currencies then it will not be hard to replace fiat.

[senyorito123]

It is very impossible to happen that Crypto will replace fiat because fiat is our main currencies and the government will not allow it to happen because in fiat they can get tax and they can control it,they will make Crypto as a substitute of fiat because the country's fiat currencies has a limitation not same like Bitcoin it is accepted all around the world and you can make a fastest transaction.

[S4VV4S]

Fiat money is cannot replace by Cryptocurrency, but they can walk together in our lives. Fiat money has been very trusted in the life of society, the citizen is already comfortable using fiat money, while Cryptocurrency is still difficult in use because until now there has been no regulation or the special rules established by the Government against Cryptocurrency.

[conected]

Nowadays right now, this is hard to happen, It will depend on the prices of crypto's especially bitcoin, One the main problem right now is the manipulation of whales and greedy traders.

- I never even believed that it could happen because the first thing is as you say, the value of crypto, typically bitcoin, it is very unstable and is always controlled by whales, many users have received a huge loss after the fluctuations of bitcoin. From there, we can see that crypto really can not be applied to the society, users will be very upset when the asset and value of currency always change, combined with some issues such as time to confirm the transaction, the inconvenience and uncommon as fiat, it was enough to say that crypto would never replace fiat

[bitcon]

I wonder how much time has to pass to introduce this idea to real life.

It may not happen if most of the people do not support the cryptocurrencies. I suppose it will be better to use both fiat and virtual money as well. A person will have to choose its currency which he likes.

[jikurpa]

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

[yanesna3]

I wonder how much time has to pass to introduce this idea to real life.

Tens years, my friend. However, IF even it happens, people will return soon to use traditional money as well. Simply cash is very convenient, and no Internet connection is required.

[millionaireshs]

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 of now we Crypto currency are available to transact into fiat money but once crypto become primary use the fiat money will become gradually abolish and totally  ban once crypto replaced to fiat. I think all situation should be better life than the current situation now. like for example all strategy to do a livelihood   for generating income in current uses its very easy to do because we lnow already how it works, How much more if adopt it into Virtual digital crypto currency!, did you get my point?

[nur rochid]

I wonder how much time has to pass to introduce this idea to real life.

Tens years, my friend. However, IF even it happens, people will return soon to use traditional money as well. Simply cash is very convenient, and no Internet connection is required.

indeed no one knows for sure about it, whether it happens or not later. but as a bitcoiner, of course, we must be optimistic that this happens, because with that we will become rich people

[Farma]

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

although that is possible, I'm sure that is a very difficult thing. well, you know, so much regulation that the government issued for crypto, and of course stability is the main thing that needs to be noticed. although that is possible, I think it has very little chance.

[Jesabela04]

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 for me, there would be lots of things to consider before having crypto in replacement of fiat. We all know that most of the countries are clueless about crypto. We should consider informing people about it first before they adapt it. Fiat is still the most common way of transacting these days.

[Bitfling]

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

I am agree, many government still ban and prohibit cryptocurrency. If crypto replacing fiat, its hard to measure economic growth. I think fiat money still needed in our economic system because its need long time for people understand about cryptocurrency