Crypto replacing fiat?

[peter0425]

experts have agreed with this, that crypto is not suitable and has not qualified as a payment currency.

We have a lot of experts here in crypto and they are not agreeing each other, everyone has their own opinion.
I think it's possible to be a payment currency, we can use third party to minimize the volatility, I saw some online shops accepting bitcoin, so it's really possible.

Because we are a community so it make sense that we will see some opinion clash against each other. But I would go with the majority that fiat will not be replace by crypto. It takes them hundreds of year to make them one of the biggest institutions and every country treated their central bank as one of their prime movers so I don't see crypto taking over anytime soon.

[1713512498]

1713512498

[Best Dreams]

experts have agreed with this, that crypto is not suitable and has not qualified as a payment currency.

I disagree with your thinking and it does not have any proper proof whatever you said  because according to my research id we look at the payments stored data there is 80 percent of daily payments are being done with bitcoin. People for to  benefits and using crypto they can save allot of time that they stop working and go out so according to me the use of fiat now is reduced as compare to last few years

[usorin]

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 is almost impossible to replace the fiat currency with crypto because they have different backgrounds. Right now the crypto market represents the fact that thousand of people are able to believe in one and the same thing, crypto coins, but there is no way to replace fiat with crypto coins. (What if FIAT becomes crypto??).

[SnapDown22]

for crypto currency replaces fiat currency, I think it is very difficult and impossible because of the different properties and functions for now and maybe it still requires a long and difficult process and time but all possibilities can happen, no one can predict with certainty and clear

[Faxmate]

for crypto currency replaces fiat currency, I think it is very difficult and impossible because of the different properties and functions for now and maybe it still requires a long and difficult process and time but all possibilities can happen, no one can predict with certainty and clear

Crypto have their own value and that's why everyone knows its for their high value so they buy this currency for future because very soon it will work in every business dealing and most of online shopping will very easy so it will more valuable than fiat but I think it will never replace fiat because fiat currency is work hand by hand and most of those people who are poor and invalid from education they cann't use crypto, so that's why fiat is important for them.

[sirminesalot]

Crypto currency replaces fiat currency, I think it takes time and process for quite a long time and is very difficult because it requires the trust of everyone because we know that crypto currencies are very difficult to convince everyone

[Ranly123]

Crypto currency replaces fiat currency, I think it takes time and process for quite a long time and is very difficult because it requires the trust of everyone because we know that crypto currencies are very difficult to convince everyone

It's not just difficult to convince everyone, we can't just use a currency whose volatility is high. Unlike Fiat currency, the value of cryptocurrency varies every hour and it's not a good medium for businesses to be used.

[mariah.sadio]

I think cryotocurrency will not replace fiat in the future. Why? Cryptocurrencies are just digital currency. It should have physical characteristic so that all types or level of people from a country will be able to use it in a daily living. Government also regulates cryptocurrency first that is why it will not replace fiat. Government will still choose fiat as currency.

[Irvinn]

Cryptocurrency, especially decentralized, by its nature cannot replace the national money of states. The decentralized cryptocurrency was created as an alternative payment system to the usual currently used payment systems. A successful cryptocurrency can only go in parallel with the national money of the states, but not replace them. The national money of the states is directly related to their economies, and such a connection is not capable of having a cryptocurrency. For cryptocurrency to replace fiat, an appropriate government decision is needed. However, no government will ever agree to give up their national money in favor of a decentralized cryptocurrency. It would be disastrous for the economy of any state. In addition, the cryptocurrency has too much price volatility.

[Yusuf77]

in my opinion it can happen if all countries accept and legalize crypto currencies as the currency that applies along with the development of time and technology of course

[shoreno]

in my opinion it can happen if all countries accept and legalize crypto currencies as the currency that applies along with the development of time and technology of course

Most country these days are now legalizing crypto and if some wil also join the movement i still dont think that crypto can totally replace the fiat because if there will no be fiats how can one buy cryptos ? thru gold maybe ? But we also need fiats to buy and gold . its also hard to mine it manually   .

Same as with other stuffs .  we also need a fiat to buy them  .  

experts have agreed with this, that crypto is not suitable and has not qualified as a payment currency.

I disagree with your thinking and it does not have any proper proof whatever you said  because according to my research id we look at the payments stored data there is 80 percent of daily payments are being done with bitcoin. People for to  benefits and using crypto they can save allot of time that they stop working and go out so according to me the use of fiat now is reduced as compare to last few years

80% ?  That seems high compare to fiat users  .  i dont think that alot of people are able to use cryptos because we can see that younger people and older people will always prefer local currencies because they dont aware on how crypto works .

[kemetz]

legality is mandatory if the crypto transaction has become a very large part and cannot be inhibited anymore, the capitalist model will change progressively, but this process will experience a long time because it is not as easy as expected. Structured alternative currencies that are connected will change everything in the future, crypto is a very possible option.

[sulendra12]

I disagree with your thinking and it does not have any proper proof whatever you said  because according to my research id we look at the payments stored data there is 80 percent of daily payments are being done with bitcoin.

80%? May I know where did you find that number? Because 80% is literally almost the entire world lol and most of people still using flat as their main currency, it's really annoying to see people just manipulating the number to make X thing become better.

People for to  benefits and using crypto they can save allot of time that they stop working and go out so according to me the use of fiat now is reduced as compare to last few years

What a lazy ass person.

[Janation]

experts have agreed with this, that crypto is not suitable and has not qualified as a payment currency.

It is not that it is not qualified but it is not just suitable to be a payment method.

Bitcoin is known for its volatility and we all know, obviously, that it is a decentralized cryptocurrency. In our country, Bitcoin is known to be a cryptocurrency that must be avoided since it is a scam, that is the identity of Bitcoin to them not knowing that these scammers are just using Bitcoin as an escape to their plans, scammers nowadays are really crafty. That is another reason why Crypto will not replace Fiat, well the common is the most obvious.

[BeGoods]

it could happen because along with the times and technology that will grow very rapidly but of course it needs a process and a long and difficult time of course

I think that fiat will not be able to completely disappear even in the distant future. Many people love to diversify their funds and they will still hold some of the money in the form of paper money.   

Well mate nothing happened within days ever doing so we want to see people think as you think you will have to be patient. According to me people have taken a start to make money disappear as they use bitcoin more than fiat. Everything is able to do with digital money with ease and its future saviour as well so future of paper money is almost in dark.

You know Fiat also has a digital version. and it's also equally flexible and efficient to use. digital currency issued by banks or fiat will
be a competitor for crypto. and of course fiat will win because it is backed up by government rules.

[Tukang Becak]

The presence of crypto certainly has a very good big impact, I'm sure that someday crypto will be used internationally, fiat that can be made in any number of course will have a big problem if more people are aware for improvement.

[JohnBitCo]

it could happen because along with the times and technology that will grow very rapidly but of course it needs a process and a long and difficult time of course

I think that fiat will not be able to completely disappear even in the distant future. Many people love to diversify their funds and they will still hold some of the money in the form of paper money.   

Well mate nothing happened within days ever doing so we want to see people think as you think you will have to be patient. According to me people have taken a start to make money disappear as they use bitcoin more than fiat. Everything is able to do with digital money with ease and its future saviour as well so future of paper money is almost in dark.

Ofcourse crypto will not replace fiat in a day or even months. It is a slow process and it may take many years for this reform. Also changes are not easily acceptable and bitcoin will have to fight its ways to overcome the fiat which is already too much popular.

[sulendra12]

The presence of crypto certainly has a very good big impact, I'm sure that someday crypto will be used internationally,

Crypto already being used globally even though it's just on the internet only like paying something online and stuff. But still crypto already proven that they can use it.

[Loopper]

The presence of crypto certainly has a very good big impact, I'm sure that someday crypto will be used internationally,

Crypto already being used globally even though it's just on the internet only like paying something online and stuff. But still crypto already proven that they can use it.

This explains that crypto has many benefits for everyone on the internet and makes things good and useful in the future.

[greeklogos]

The presence of crypto certainly has a very good big impact, I'm sure that someday crypto will be used internationally, fiat that can be made in any number of course will have a big problem if more people are aware for improvement.

Not so aware of improvement as simply can't allow it themselves. Do you know how much people in the world are living under poverty line? They simply can't allow themselves something technological. No matter how bitcoin nice and fast the biggest part of population will use fiat for many more years.