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Author Topic: Please, we should not totally eliminate fiat currency  (Read 1338 times)
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September 12, 2018, 07:59:29 PM
 #221

In as much as I am a strong crypto fan, I also believe it will be highly suicidal if we decide to totally eliminate the fiat currency. Countries will no longer be able to plan a proper budget with crypto alone due to market fluctuations.

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September 13, 2018, 02:42:22 PM
 #222

While fiats has a lot of disadvantage, there are also some good parts to it, it help governments tweak some policies that may be beneficial to all, it is also easy to use, no need for internet services. Cryptos should be an addition,not an outright replacement

Everything is to end one day and replace by the better technology. Same is the case with Fiat and it will be replaced by digital currency sooner or later. At the present it seems impossible to replace the fiat currency at is the backbone of the current financial system. Bitcoin and other digital currencies will take time to penetrate in this system and altogether replace it. One more thing is that Bitcoin value is too much volatile now a days and it needs to be stable in order to play a part as a real currency.

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September 13, 2018, 02:49:46 PM
 #223

Very true. For us to actually be globally and purely crypto currency. We should see infrastructures at a global level where in everyone could access their accounts and exchange it for goods and services. These things will take time and an insane amount of resources to do but we will eventually get there. In the mean time, fiat wil do nicely.

Its not like that. Fiat will always be needed in any scenario because crypt currencies are not that widely spread yet though they look like one! The crypto currencies are just on the mouth of crypto lover and thats set. This is where it lacks the bridge to jump from the virtuality to the real world. I guess fiat will always be needed by us no matter what and it has also set perfect infrastructure on national and international level where fiat can be exchanged in a snapshot and thus very much useful. I dont think crypto will ever have that much efficient tech or infra in the near future.

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September 13, 2018, 02:55:55 PM
 #224

Crypto-currencies are gaining popularity and this industry is developing rapidly, but I agree with the opinion that crypto-currencies can not quickly replace cash, and many are not ready for it.


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September 13, 2018, 03:01:23 PM
 #225

In as much as I am a strong crypto fan, I also believe it will be highly suicidal if we decide to totally eliminate the fiat currency. Countries will no longer be able to plan a proper budget with crypto alone due to market fluctuations.

Lol eliminating fiats will he impossible for the whole time of cryptocurrency and of rhe world

Yes it is indeed that bitcoin and all cryptocurrencies are the future money no question about that but lets not forget that cryptocurrency can support the financial usage of the world as internet is requied to use this but fiats are not,so in absence of one the other will support

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September 13, 2018, 03:22:19 PM
 #226

Why are you afraid, fiat will not disappear and will continue to be used for now and so on. Fiat currencies get the support of the government and the public more easily in their use, and that will make fiat currency still be used.

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September 13, 2018, 04:06:05 PM
 #227

not even really close form happening, dont worry about it.
even if cryptocurrency will take over, fiat currency will still be in use.
cryptocurrency can replace fiat money as medium of exchange if there is no inflation.
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September 13, 2018, 04:41:21 PM
 #228

Yes, that's true. Who is that dumb people who wants to make flat currency become useless and should have removed it. It's okay to fan with crypto, but remember that you need flat currency in your life to buy something that seller doesn't accept or they don't know about Bitcoin, so you need to pay in flat.

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September 13, 2018, 06:16:51 PM
 #229

Yes, that's true. Who is that dumb people who wants to make flat currency become useless and should have removed it. It's okay to fan with crypto, but remember that you need flat currency in your life to buy something that seller doesn't accept or they don't know about Bitcoin, so you need to pay in flat.

Well this is something we shouldn’t worry about. Because I don’t think fiat currency/fiat money could totally be eliminated and could totally replace by any other currencies, specifically cryptocurrency, which is still unused by alot of people today.

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September 13, 2018, 07:09:42 PM
 #230

in my opinion fiat currencies are very difficult to get rid of for the next few decades.
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September 13, 2018, 08:32:38 PM
 #231

I am sure that fiat will not totally be eliminated even if the cryptocurrency dominance is already demonstrated around world. Having a positive outcome with both fiat and cryptocurrency around the world economy.
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September 13, 2018, 11:15:25 PM
 #232

Fiat money won't be eliminated. Only a small percent of the total population here in our country know about bitcoin and other cryptocurrencies. Besides, children and older people do not know how this thing works. They need a fiat money to buy something for themselves.
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September 13, 2018, 11:43:44 PM
 #233

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 will not disappear, why are you so afraid of that, the government strongly supports fiat for several reasons and I think fiat is really needed for a country. economists also say that cryptocurrency is very difficult to use as a payment instrument such as fiat due to price fluctuations.

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September 13, 2018, 11:47:46 PM
 #234

It is not a question of wanting fiat completely eliminated. It will be more on it just gradually happening because it is just more convenient to more people. Perhaps it is not yet convenient to small businesses but give it time. It will get there. Kids today might not even know how it feels to bring cash with them. It's just how technology is.
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September 14, 2018, 02:08:12 AM
 #235

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 is not like fiat is going to disappear anyway, in the worst case scenario if a financial crisis appears and shakes the confidence of the public in fiat currencies that is only going to move some people to alternative forms of payment like bitcoin but not everyone is going to accept this new type of currency and that's fine, more profits for us.
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September 14, 2018, 02:56:39 AM
 #236

In as much as I am a strong crypto fan, I also believe it will be highly suicidal if we decide to totally eliminate the fiat currency. Countries will no longer be able to plan a proper budget with crypto alone due to market fluctuations.
Of course it is suicide, we cannot use and depend only on crypto to pay for daily needs? Moreover, not many parties accept payment with bitcoin right? of course elimination fiat will only complicate your life, except if bitcoin has been accepted wherever it will be different story

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September 14, 2018, 05:35:26 AM
 #237

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.
Of course, fiat currencies will always be available and can be used anywhere in every government. Even though the development of technology is currently more modern, all countries cannot easily eliminate existing fiat currencies because for every fiat currency country has its own history. on the other hand, modern technology in the form of digital currency certainly has drawbacks, one of which is that if we lose the internet network due to bad weather conditions, this digital currency obviously cannot be used by anyone.
This is irrelevant to say like this that we are eliminating fiat is totally wrong nor Bitcoin has the target to eliminate fiat and it can not as fiat is currency issued by government of a country and they have huge interest and profit in it. Fiat currency makes their economies and if they replace it with the modern system then errors and instability will much be raising.

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September 14, 2018, 06:17:44 AM
 #238

yes you are right, your points are very valid, but though lots of people like myself wants fiat eliminated, but that wont happen ASAP, so before we get to that point where fiat would be completely eliminated, modalities wont have been in place, so before fiat is completely eliminated, structure would have been in place to cater for the points you just noted.
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September 14, 2018, 07:11:37 AM
 #239

I do not quite eliminate a fiat money just because of the excuses you have given. But no one has been denied the benefits of moving to a blockchain right now with the only disadvantage of feeling the hassle of accessing people disturbed. But maybe in the future, it can be well and be successful.

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September 15, 2018, 01:49:29 PM
 #240

It will never happen though crypto currencies is used by many people. We can’t eliminate fiat because many people prefer fiat especially those who are in rural areas. The people who are civilized are still using cash even though they have all the means to use digital money like credit cards, transferring money, and buy and sell goods by the use of internet.

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