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Author Topic: Please, we should not totally eliminate fiat currency  (Read 1823 times)
yonjitsu
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September 04, 2018, 07:19:05 AM
 #141

That's close to reality while having a cashless society is far away from reality too. There's really pros and cons using bitcoin an crypto as well as fiat currency too but in my opinion, fiat currency will remain along with cryptos because not all people can afford to use bitcoin and cryptos.

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September 04, 2018, 09:42:06 AM
 #142

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.

Even though everyone wants fiat to be eliminated, not every people can still invest on cryptocurrency and that is the reason why it should not be used by everyone on different countries.

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September 04, 2018, 09:55:26 AM
 #143

Fiat currency has it own role in our current economic development and we are to really becareful not to push it aside because of the discovery of cryptocurrencies and what it can do. I think time will come when blockchain technology will be used in producing fiat currency.

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September 04, 2018, 10:19:01 AM
 #144

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.
Fiat currency will not be eliminated ever. We use it in a day basis in our everyday lives. Yes, we are now living in a digital world and many people now using cryptocurrency on their payment transactions but still we cannot use it at all times. Fiat is important and  it has been part of our life since ages. Fiat will stay no matter what.
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September 04, 2018, 10:19:13 AM
 #145

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.
Yeah we can still use Fiat for many years or decade as this will not easily eliminated even if crypto will become mainstream. We had different understanding about crypto that's why not all countries had supported this technology.
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September 04, 2018, 10:34:42 AM
 #146

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.

LOl even how we wanted to it will never happen,because that possibility is far from reality from now until the world end fiats will be needed for transactions for the reason that internet will never available anytime and everytime in some areas so thats why we should consider this as a truthful and will never change

Fiat currency has it own role in our current economic development and we are to really becareful not to push it aside because of the discovery of cryptocurrencies and what it can do. I think time will come when blockchain technology will be used in producing fiat currency.

What?Blockchain will produce fiat?What a fool interpretation of the situation ,put this in mind noob that fiat is physical,and crypto is virtual.


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September 04, 2018, 10:46:12 AM
 #147

I don't think that will happen, Fiat Currency will still be there and so many will use Fiat Currency to make transactions and Fiat may be integrated with cryptocurrency so you can buy Fiat using cryptocurrency and vice versa.














 

 

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1NV3ST0NM3
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September 05, 2018, 08:23:01 AM
 #148

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.
Exactly, people are forgetting that the ease with which fiat currency can be used. It simply gives and takes system, no technological difficulties. So anyone can use. But cryptocurrencies are quite complex to use. The minimum requirements to use it are a smart phone and a good internet connection. So how the poor people and the illiterate people would will use it. That’s quite impossible.

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September 05, 2018, 08:53:49 AM
 #149

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.
We cannot eliminate fiat currency, not in this era. But maybe when centuries later when almost all parts of the world are coping up with the advancements in technology, then that's the time it may be possible. But for now and future years, the chances are less.
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September 05, 2018, 08:57:09 AM
 #150

But there are provinces in South Korea, Gyeongsangbuk-do, who really want to change their local currency with Crypto, check the link below:
https://news.bitcoin.com/korean-province-local-currencies-crypto/

trickyriky
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September 05, 2018, 04:48:21 PM
 #151

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.
Fiat currency will not be eliminated ever. We use it in a day basis in our everyday lives. Yes, we are now living in a digital world and many people now using cryptocurrency on their payment transactions but still we cannot use it at all times. Fiat is important and  it has been part of our life since ages. Fiat will stay no matter what.

Why does everybody that is dealing with the cryptocurrencies think about eliminating of fiat? It WILL NOT HAPPEN. Unfortunately, the Internet connection is not available everywhere, and the level of life of many people is miserable.

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September 05, 2018, 05:41:39 PM
 #152

It's very possible crypto can be used still in these cases but it would rely on peer to peer networks so perhaps with great latency to a real internet confirmation of the transaction.Its possible alternate crypto standards are doing the most work in these cases.
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September 05, 2018, 06:15:44 PM
 #153

It's very possible crypto can be used still in these cases but it would rely on peer to peer networks so perhaps with great latency to a real internet confirmation of the transaction.Its possible alternate crypto standards are doing the most work in these cases.

Not for now, I think that it is too early for now to eliminate the use of fiat, we should still consider it for now as we need it in our daily life, after a decade or so it will be the best time to evaluate whether we are going to push for cryptocurrency or to fiat but so far we need them both as it is not that easy nowadays to transact in crypto as not everyone accepting it.

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September 05, 2018, 07:18:03 PM
 #154

yes, your opinion is that the affordability of the technology media is still limited, one example is that there are villages that have not entered even there are those who do not know what computers and the internet are at all except children whose schools are taught by their teachers. the problem is that digital money is applied.

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September 05, 2018, 07:36:39 PM
 #155

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.
having crypto as the currency surely doesn't mean the fiat should be totally eliminated. still, we need variety of currency to make people's need easier to fulfill, as the alternative way, just in case we get trouble with one of the currency, except crypto currency has officially announced as the legal one. If it happens that way, we wouldn't need fiat currency again.

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September 05, 2018, 08:29:55 PM
 #156

I bet fiat money can't be totally eliminated. Normally, those people who belong to the middle or high-class family are the ones who can enjoy using crypto as a mode of payment in their online transaction. While who isn't advance technology thinker will remain using fiat money as their regular currency. That makes fiat money not to get eliminated.
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September 05, 2018, 08:47:24 PM
 #157

Of course not. If we eliminated fiat, then it would be replaced by a government's own virtual money. That's what they are doing it in some country, and what it does it takes control away from the people. They always know how much you have, and you cannot hide it. You can't save it under your mattress if you wanted, or bury a million dollars under your house.
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September 05, 2018, 09:08:25 PM
 #158

Well, I think, crypto will not really eliminate fiat currency, not in the near future, even in the future. What is likely to happen is that the blockchain will be used for interbank transactions using fiat currencies. And I think Cryptocurrency will as an alternative to fiat money in certain situations.

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September 05, 2018, 09:18:56 PM
 #159

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 digital currency will exist with the fiat money, maybe there is a chance that digital currency will be more used in the urban area but as you said how about the rural area. If our economy and technology improved I think those area will also adjust. But even though that would happen, fiat will still exist with competence with digital. They have different purposes and are both important, let's just see what would happen in the future.

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September 05, 2018, 09:27:50 PM
 #160

That is true, many people do not have access to the internet till now and there are still surviving because of the bank. we must say that we did not include those people who did not get involved in the internet like farmers and other workers who do not even have a proper mobile phone. Banks are bad but at least they are trying to do something and take some profit from it all we can do is keep the Bitcoin as an option of payment method and not the only payment method.


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