Crypto replacing fiat?

[BennyK]

Cryptocurrency has achieved a lot and has brought great transition in our world of finance. It has brought speed to transactions, security, owner control over transactions, ability to transfer funds across borders, transparency etc to the people yet Fiat is more familiar to the people. It is with fiat that cryptocurrency market cap is measured hence the essence of the existence of fiat cannot be underestimated. Fiat and crypto will rather coexist than for crypto to replace fiat.

[MidKnight]

Only on huge transactions like government expenditures and transfer of money of banks and business. I'm sure that on those areas, it is going to be all completely crypto. But for us average spenders,  we are going to need fiat. Crypto is very helpful when a huge some of money is needed to transfer in any place or country in an instant which is not needing a armored car or etc.

[lepbagong]

I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

It is clear that with crypto payments will be faster and more measurable and process faster. but there is also a problem with crypto replacing fiat, because there are still many countries that have not been able to accept crypto transactions as legitimate transactions recognized as legitimate payments by the state.

[Kimonoe]

I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

It is clear that with crypto payments will be faster and more measurable and process faster. but there is also a problem with crypto replacing fiat, because there are still many countries that have not been able to accept crypto transactions as legitimate transactions recognized as legitimate payments by the state.

besides that cryptocurrency currently still has high fluctuations, so there are still many who doubt crypto as a currency. and with no regulation from the government, the development of crypto has been hampered as a legitimate currency

[kakonhat]

I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.

[BigBos]

I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

It is clear that with crypto payments will be faster and more measurable and process faster. but there is also a problem with crypto replacing fiat, because there are still many countries that have not been able to accept crypto transactions as legitimate transactions recognized as legitimate payments by the state.

you're right, in terms of transactions, of course crypto is very fast. however, the thing to consider is that fiat is used for offline transactions, and crypto is used for online transactions. moreover crypto has a volatile, or unstable price. of course there is a lot to think about in this matter.

[loopes]

I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.

I am bot sure about that. My opinion is Fiat will disapear. You can some of fiats are not valuable, for instant you can read articles about bolivar. All of fiat has the same destiny as bolivar. I am very sure that fiat will be replaced by gold, but not in term of main currency that we use but in term of country's reserve currency. Actually USD will be useless if there is no agreement about buying oil from arabian that must use USD.

[karloscimot]

if Fiat is no longer valuable, crypto will have a strong sentiment as a substitute, but basically, there is no strong backup and in the end it will be useless too. There is a transition period where gold will dramatically return to the best, but chances are that if it succeeds in developing, crypto will be used with a golden role behind it, Fiat will be ruled out.

[abeecrypto]

I don't think crypto will replace Fiat. I think they will work hand-in-hand. There are still some flaws in the crypto world that has built fear in the minds of people. Volatility is one of those and it's going to be a hard one to control for a global currency. There is also the issue of security of funds and so on. In my opinion crypto is and will only give people a choice of storing value.

[elisabetheva]

I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.

It is believed that digital money is very easy to store and can be used more quickly even for transactions. but we know that there may still be many countries that are not familiar and recognize as legitimate transactions. so it still takes time if digital money will be able to replace fiat.

[Dikarama7]

Fiat has legal power because it is a symbol of a country, fiat will survive and it is not easy for bitcoin to eliminate fiat.

[Aqcizromencez]

I think both will remain and coexist, and it's difficult to replace fiat with crypto or almost does not occur within the next 10 years, in some countries it prohibits crypto and crypto is prohibited in my country as a legal payment instrument, but may be owned.

[sirminesalot]

I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

Yes, that’s right. For now crypto is for investment purposes only. If the time comes, when many people adopt crypto and can understand its purposes and its usage, we can live in better place like what you said.

  absolutely right, as we know crypto and fiat need each other because the use of crypto is still limited so we also need to use fiat money.

[Janation]

Fiat has legal power because it is a symbol of a country, fiat will survive and it is not easy for bitcoin to eliminate fiat.

And you are saying like Bitcoin can take over?

Even with the development of Bitcoin in the future, I don't think it will be replacing the fiat that we know but if we will be talking about cryptocurrencies, that is a possibility since as I always say, our future is leading to it. Bitcoin will be existing beside those cryptos that will be used as a legal fiat of a country, but I think that will be a long time.

[Argoo]

Cryptocurrency can not replace fiat, it is simply not capable of it. The decision to abolish national paper money can only be taken by the legislative body of this state. Without this cryptocurrency is not able to do this. The state will never give up its national money, although paper money may eventually change to more advanced forms of national money. Cryptocurrency and national money of the states will be forced to exist together and can influence each other.

[usorin]

It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.

[mersal]

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.   

mostly the connection between cryptocurrency and the normal currency is not happen in anytime so it will not been crossing in any line so the possibility of beat and the normal currency from the development of cryptocurrency is not available in any situation and moreover the people in this world more trusted the normal currency only.

[bitcon]

I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

I guess that a few people use crypto instead of fiat even now. Nevertheless, if we speak about the whole society, it is not possible that virtual money could ever replace traditional currencies. People need fiat more.

[centhiniz]

I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

if fluctuations don't end with stability that has good fundamental character, this will end with a weakened economy and many impulsive problems that cannot be resolved quickly.

I guess that a few people use crypto instead of fiat even now. Nevertheless, if we speak about the whole society, it is not possible that virtual money could ever replace traditional currencies. People need fiat more.

In relation to virtual currencies (fiat), this has begun to become familiar and has even begun to be structured from the banking channel and third-party application developers. Crypto will be popular afterwards because it is connected with people who are familiar with online transactions who are finally interested in trying it out.

[shesheboy]

mostly the connection between cryptocurrency and the normal currency is not happen

it does happen now . Crypto and fiats have a connection because cryptos are measured in fiats and will also be converted by fiats .  People also uses a fiat to buy or cash in cryptocurencies on their accounts   .

the possibility of beat and the normal currency from the development of cryptocurrency is not available in any situation and moreover the people in this world more trusted the normal currency only.

Not all people trust normal currency because some people think that the governements and banks are only benefiting the most when they used fiats  . This why satoshi had a vision to create the first crypto called bitcoin because he wanted to have a currency that is decentralized    . In the future there is always a possibility of cryptos to replace fiat  because the technology and the world is also evolving  .