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Author Topic: Please, we should not totally eliminate fiat currency  (Read 1853 times)
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September 02, 2018, 11:48:47 PM
 #121

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
why are you so worried? all opinions that say that fiat money will lose to cryptocurrency is just a speculation, Fiat money will continue to be used while crypto continues to grow. Moreover, not all regions can accept crypto because technology is not evenly distributed in some regions.
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September 03, 2018, 04:23:54 AM
 #122

As cryptocurrencies' popularity is high and one of its goal is to be the good alternative for fiat currency, then there is really that perception from people that fiat currency will be replaced by crypto soon. But let us not forget and consider that there are still people who don't want to use crypto and that they are computer illiterate and lived in low class country.

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September 03, 2018, 05:32:37 AM
 #123

As cryptocurrencies' popularity is high and one of its goal is to be the good alternative for fiat currency, then there is really that perception from people that fiat currency will be replaced by crypto soon. But let us not forget and consider that there are still people who don't want to use crypto and that they are computer illiterate and lived in low class country.

Elimination of fiat currency at this time is far to happen because there are many places that don't have a computer  and network site, even electricity they don't have. I think we both need digital currency and fiat currency.

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September 03, 2018, 07:20:16 AM
 #124

I think that the fiat will not be completely taken out of circulation, but will reduce the amount of cash circulating money. Countries rich in resources are constantly increasing the gold reserve, gold standard can again be introduced and the working cash will be backed up with gold.

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September 03, 2018, 07:28:49 AM
 #125

I think that the fiat will not be completely taken out of circulation, but will reduce the amount of cash circulating money. Countries rich in resources are constantly increasing the gold reserve, gold standard can again be introduced and the working cash will be backed up with gold.

Fiat is used in how many decade, so i think it will not gone, it will still exist in a life time with the cryptocurrency.
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September 03, 2018, 10:30:49 AM
 #126

The fiat currency will not disappear! The currency currently circulating on the market is not legal currency!
The cryptocurrency is only a supplementary currency for legal tender!

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September 03, 2018, 10:34:52 AM
 #127

Strange to see the excitement about the disappearance of Fiat.
In my country all calculations with money are made only in fiat at the legislative level.
I do not think that the Fiat will disappear once...
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September 03, 2018, 10:41:25 AM
 #128

completely eliminating the real fiat currency might just be a dream, because the reality is very difficult, there are many factors that hinder the start of culture, low levels of education, uneven technology especially if the country is left behind and the country is in a complicated situation, so it might not be eliminated but suppress and reduce the function of fiat currency itself but in practice fiat and kripro must be able to walk side by side and complement each other's shortcomings

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September 03, 2018, 11:14:51 AM
 #129

The popularity of bitcoin is slowly penetrating to the places all over the world, but cryptocurrency might not totally eliminates fiat currency ,for the reason that places without the access of the internet, could not utilized the function of the digital crypto currency which need to be on line and connected to transact this digital activities , so the absence of this make fiat money be useful as usual.
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September 03, 2018, 11:34:57 AM
 #130

I think that people's opinions on the forum will not affect the decision of the governments in relation to the currency. Do not worry and do not panic.

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September 03, 2018, 12:36:27 PM
 #131

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.

It will not happen. At least not soon. The world economy is based on fiat money and cryptocurrencies are a very small part of it. Financial institutions are not interested in popularizing cryptocurrencies so they certainly will not facilitate this.

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September 03, 2018, 01:08:58 PM
 #132



Come on. There is no way the government are going to rely the economy to digital currency where they have no control over. The resistance is just too strong that we ourselves can't live without fiat. It will not happen in our lifetime and probably not even when our children gets old.  Unless they will create their own centralized coins, a government owned coin running on blockchain.

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September 03, 2018, 01:09:34 PM
 #133

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
I think as of now, cryptocurrency still has no chance to overpower fiat. Still people believe on the capacity of bitcoin but dominating fiat would not be possible as of now. I think if that will happen, I would not be able to witness it because that will take too much time to take place. There are many factors to consider and a decade or two will not be enough.
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September 03, 2018, 01:48:57 PM
 #134

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
Quite right my friend! Regardless of the trouble people say it causes, there are some scenarios where physical fiat money is the only option.
 The sad truth is that not everyone is fully connected yet. There are now more people than ever before with access to a smart cellular phone. There are even more who now have access to a basic mobile phone device.
    To eliminate fiat completely would be a complete disaster. A first world country may indeed be the first to have a cashless society, somewhere in the distant future maybe.
As of now, not so much. Fiat isn't going anywhere, anytime soon.
   One day in the future, once everyone in society is properly educated and rightfully equipped, then maybe fiat will be discarded and digital cryptocurrency will be the replacement. Maybe...
   Let's not forget about the mom and pop stores who haven't made it into the digital age yet, which to them crypto may be likened to something out of Star Trek. What about the street vendors, or the ordinary Joe's who just want a cup of joe before work? I don't think crypto fits their forte, at least not in it's current form. It would need to be more "User Friendly".
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September 03, 2018, 02:27:36 PM
 #135

Yes we should not to eliminate and remove or leave fiat currency for our live, look at how many people was get profit and take more benefit with cryptocurrency. we have learn at the people get profit with bitcoin and cryptocurrency investment.

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September 03, 2018, 02:31:01 PM
 #136

It will not happen in the short time my friend, more precisely it will not happen before the global financial crash happened of course. And it will need a more technological infrastructure that can cover all the internet needs in all the world. So, take your time to buy land and farm.

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September 03, 2018, 03:55:26 PM
 #137

it is hard for cryptocurrency to overtake the fiat currency in transactions many people will still use the traditional way of transacting in business and other kind of buying or selling good products, and also as what you indicated above many countries in the world are still in the 3rd world classification meaning not all places in a particular country has the internet connections and even computers.
Yes, it is very hard considering the fact that even government will not allow that. Fiat will still remain in a way, blockchain technology will be utilized by most banks in bringing about a new form of currency and apparently, there would be more interest in it as time goes on.

Nevertheless, this is something that can only and easily be applicable to developed countries and some developing countries. Like you said, in most of the third world, it would really take a huge one to be able to eliminate fiat. Still, no matter how much some may want fiat eliminated, this is one thing that is not very possible. Like you said yourself, there are still a lot of things we will always need fiat for, and apparently, no government can allow fiat to just get eliminated like that without at least a fight.

The best case in this whole issue is to have both going hand in hand just like it is, which is something I expect anyway as it is not everyone that will have a chance to make use of crypto as not everyone sure do have a chance to accessing technology or being vast in it.


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September 03, 2018, 04:06:46 PM
 #138

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.

I am also against completely eliminating fiat currently.  This can result in a number of problems especially in developing countries.  At such places,  there is still a lot of illeteracy and thus people will not be able to use crypto efficiently.

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September 04, 2018, 06:51:44 AM
 #139

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
You just need to understand that most of the people here are very crazy and they just say whatever that comes to their mind without thinking about it or the possibility of such a thing happening, they just think straight. Such a thing is not going to happen, it’s all about choices and Bitcoin is just an internet money and if you want to make use of Bitcoin it’s just your choice… if you decide you need fiat, then go for it.

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September 04, 2018, 06:59:35 AM
 #140

From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
I think as of now, cryptocurrency still has no chance to overpower fiat. Still people believe on the capacity of bitcoin but dominating fiat would not be possible as of now. I think if that will happen, I would not be able to witness it because that will take too much time to take place. There are many factors to consider and a decade or two will not be enough.
We do not have to compare it and cryptocurrency has no such target to replace fiat currency but is only to help us out using the easiest features for frictionless transactions etc. Fiat currency could only be replaced by crypto if government of a country announces it just like Japan where crypto currencies are rocking and many several countries where it is using besides their fiat currencies.

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