In the future, will fiat currencies be necessary in the world?

[trader34]

Basically, I believe that as long as governments exist, fiat currencies will always be there.

But this does not mean that alternative forms of exchange, like bitcoin, cannot also exist and flourish.

[YuiAckerman]

Of course, it will be stay in our world and pass it on our generations and as long as people didn't know about crypto many people will not accepted about some crypto transactions as a payment.

[NewRanger]

for me, I can not tell about a fiat currencies but I think everyone might need a fiat currency because not all people are using and knowingly working in a cryptocurrencies in the country. but when our future is touched our attention maybe the cryptpcurrency is approaching a fiat no later today tomorrow. but after all when we use fiat money we can see the real result so we just follow what is right.

if we look at the perspective of a crypto user, of course the answer will vary greatly, some users may still need it and other users don't need it, but you're right. why we don't ask answers to outsiders? of course they are still very dependent on fiat

Use of fiat is almost zero because people loved to use digital currency more than fiat. Fiat is now support only by few counted number of people but digital money is world popular and it’s being liked by people for huge profit and easy use at any place without any difficulties because mostly countries has adopted it as payment resource.

people now much using digital payment than fiat.and much support this payment methode, so it made people very comfort with this way.no more bring huge money in their wallet.and perhaps in near future bitcoin could used to.

[iMark]

for me, I can not tell about a fiat currencies but I think everyone might need a fiat currency because not all people are using and knowingly working in a cryptocurrencies in the country. but when our future is touched our attention maybe the cryptpcurrency is approaching a fiat no later today tomorrow. but after all when we use fiat money we can see the real result so we just follow what is right.

if we look at the perspective of a crypto user, of course the answer will vary greatly, some users may still need it and other users don't need it, but you're right. why we don't ask answers to outsiders? of course they are still very dependent on fiat

Use of fiat is almost zero because people loved to use digital currency more than fiat. Fiat is now support only by few counted number of people but digital money is world popular and it’s being liked by people for huge profit and easy use at any place without any difficulties because mostly countries has adopted it as payment resource.

it seems you don't know what you're talking about, government-made digital money is another form or another version of fiat. Look at a credit card or debit card, it is a form of a fiat digital currency model, while crypto can be called a virtual currency, and may take place in the future too

[shoreno]

it seems you don't know what you're talking about, government-made digital money is another form or another version of fiat. Look at a credit card or debit card, it is a form of a fiat digital currency model, while crypto can be called a virtual currency, and may take place in the future too

digital and virtual are both the same . government didnt also made a digital money because what they made is a physical one . even cryptos and credit cards are now popular today , many people are still continuing to use fiat becuase this is the most easiest and most legal way to use as a currency  . virtual ones is only optional if we are doing a transaction over the internet  .

Bad thing is that hacker will have smiles on the face in that case cuz we all digital money (crypto for example) can be hacked and stolen.

that will only depend on your handling  . cryptos are known to be secure but if you are not cautious on what you are doing you can potentially lost your account or your coins  becuase they are too many threats online  .

[ufaiz50]

I think Fiat will have a digital system like CC with easy use, although blockchain cryptocurrency is better but I don't think it will be possible if crypto is a substitute because their decentralization, the government will make other ways to keep control on their side.

[semobo]

The fiat currencies were not presented in this world before long time ago but the people were trading for too long time this shows why the currency method keep changing and evolving as per the people needs so there is no need for the fiat currencies to stay forever if the cryptocurrencies can satisfy all the needs of the fit and can give more advantages than the fiat then cryptos will replace it.

[Bitfling]

I think that now there is no substitute for fiat currencies. Yes, cryptocurrency is a good thing, but as the main currency is too unpredictable. If the government decides to use it - no one knows what will happen to the economy, people may lose all their savings. And who will be blamed for this? - Of course the government!
Therefore, the government is just watching.

I am agree that hard to replace fiat currency. Cryptocurrency is too volatile if used as currency beside that, its more flexible using fiat money for our transaction. But i think cryptocurrency can be substitute for fiat currency if we want make transaction more faster and secure

[Akoldi_ibk]

Of course. Fiat becomes a physical payment instrument. although crypto currencies are growing rapidly, but don't forget that crypto currencies have value because there is fiat money. Fiat indirectly becomes a crypto value gauge.

I totally agree with your point of view. I still don't get it why people often see fiat currency as the bad guy forgetting that without it we can't actually value whatever crypto assets we're holding. Well, maybe because of the government backing which is anticrypto.

[Sarastiche]

Except there is an extinction to rural dwellers and developing countries, that is only when fiat wont be neccessary, part the limitation of Crypto is Internet, as you cannot access your wallet without the internet facility.

[Halmater]

I think, use of crypto currencies overwhelm fiat currencies soon or later and it is just matter of time. But some of important fiat currencies will be used like gold. Maybe some of goverments would do that because they don't want to lose totally their control on their own economy.

[Lexurdania]

Fiat currency still needed by any government or country. Government must be want to control their economic situation and using fiat money is the way. Beside that, bitcoin is decentralized cryptocurrency and government can not touch it. Every government must be want to control their inflation and economic growth and i think its more easy if using fiat money

[Akoldi_ibk]

No matter how digital the world will be, fiat will still be relevant. The government still needs it and moreso some places will never be digitalised and fiat will be the only means of transaction. We shouldn't eradicate or preach against fiat, but rather find ways by which both digital currencies and fiat can coexist.

[jcarlo]

No matter how digital the world will be, fiat will still be relevant. The government still needs it and moreso some places will never be digitalised and fiat will be the only means of transaction. We shouldn't eradicate or preach against fiat, but rather find ways by which both digital currencies and fiat can coexist.

I am agree. Fiat money can transform become digital money but still controlled by central banks. For government, fiat money still needed because government must be need economic growth. But i think fiat money not in paper money but in digital form

[nebiki]

surely because the paper money will never die or be replaced by a digital currency, so whenever paper money will be used anytime and will never be lost

[biskitop]

it looks like the world will be better if using digital money like bitcoin. because everything will be simpler, there is no need to carry a wallet or bag to save paper money. only need a smartphone to make transactions.

[laredo7mm]

Most likely there will be digital payment options that from now on have been done a lot in online learning where these payment options can be made replacing new payments

[indrakusumaindra]

in the future, will there really be a need for fiat currency? Government can collect taxes in crypto, determine how to allocate it, and spend it in crypto. Ppl can receive salaries and do all commerce using crypto. Loans can be done in crypto. Fundraising can be in crypto. Sure, problems have to be worked out in terms of scalability, does it have to be completely decentralized, etc, the value has to become more stable. But theoretically, is there any reason to have fiat in the future?

It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.

From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.

yes in future fiat would be replaced by crypto and i do believe by using crypto it would prevent money laundry and tax evasion. Goverments also will be much easier to track money of their people, i know its bad but i do think its also a good think.

[Seeker#9]

If a whole inhabitants of a country becomes a completely cashless society, then there is no need for fiat because all transaction are fully digitized including their national currency. A currency like dollar can also converted into centralized virtual currency by the US Federal Reserve  to match the growing popularity of decentralized cryptocurrency. Both digital currencies created by the government and cryptocurrencies will be used by the people according to the benefits that can be available from each currency.

[shesheboy]

yes in future fiat would be replaced by crypto and i do believe by using crypto it would prevent money laundry and tax evasion. Goverments also will be much easier to track money of their people, i know its bad but i do think its also a good think.

No i totally disagree with your opinion buddy . we are already in the future but why do you think fiats are still here ?  Cryptos cant replace fiats because cryptos are only possible online and we cant use it if theres no internet  .

Money laundering is already temporary because on most payment method there is always a money laundering cases  .  now when using crypto , we will only increase the risks of it due to anonimity factor .

Lastly , you cant prevent tax evasion when you use crypto because you are actually evading tax when you use it as it is unregulated