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Author Topic: Please, we should not totally eliminate fiat currency  (Read 3024 times)
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August 31, 2018, 09:07:28 AM
 #21

Even if 90% of the transactions goes through cryptocurrency, fiat will never be forgotten because it is a basic requirement to measure the value of any other asset.
It is now really the era of digitalisation and anybody can prefer a fastest way to conclude transactions but fiat will exist though


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August 31, 2018, 09:10:01 AM
 #22

Perhaps they want to eliminate fiat currency because they already hold bitcoin. So, if the whole world starts using bitcoin, these holders will benefit from it because they already have it. I think I do not want fiat currency to be eliminated. Digital currency is a thing, and fiat currency is another thing. Digital currency depends on fiat currency. Without fiat, people cannot use money in real life. But I still am not sure why people want it to be eliminated.  


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August 31, 2018, 09:38:36 AM
 #23

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 believe that there is no way to eliminate fiat currency because it is important though we have digital currency that exist and acceptable. Remember that small store won't accept it and not all place have good internet access. We still have our own money provided by the government to use everyday. Even bitcoin used everywhere it is convenient to used for big amount to transfer for fast and lesser fees to pay.

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August 31, 2018, 09:54:45 AM
 #24

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.
People who want fiat eliminated probably don't understand the concept of fiat money. It's not about internet and terminals. If a government create a cryptocurrency and declare the crypto to be the legal currency (without any commodity backing), then it's still a fiat. The opposite of fiat isn't crypto, but a commodity-backed money.

Fiat money won't disappear as long as the current system of world and nations order are still in place.

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August 31, 2018, 10:08:31 AM
 #25

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 can say that there is anhuge possibility that the medium for using cryptocurrency will not reach rural areas. And that is the problem, but we cannot really say that those areas will not be reached by technologies. Time will come and people all over the world will rely on using internet amd that is the perfect time for crypto to reign. But as of the reality today, it is far to be true. But then we do mot wamt to close door to great opportunities.

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August 31, 2018, 11:59:40 AM
 #26

I agree, simply because there are still some countries out there that does not even have internet or a computer. If fiat currency will be eliminated completely those people in those poor countries will have the hardest time adjusting to cryptocurrency. Perhaps cryptocurrency can co-exist with fiat, right?
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August 31, 2018, 12:37:28 PM
 #27

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.

In any case, it would take years for Crypto to be chosen as a payment method, then the internet will be absolutely everywhere. So the most irrational cause for its acceptance is the internet problem.

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August 31, 2018, 12:51:39 PM
 #28

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.

In any case, it would take years for Crypto to be chosen as a payment method, then the internet will be absolutely everywhere. So the most irrational cause for its acceptance is the internet problem.

Even if cryptocurrency will be legalized around the world ,but it will not totally eliminate the fiat currency, because cryptocurrency will be utilized  in areas where there is abundant supply of internet access , and fiat will be used as usual currency in places where there is no signal of internet, so it will not be eliminated.

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August 31, 2018, 01:01:11 PM
 #29

I would agree that we need fiat currency in the current situation and the main objective I guess for btc is to be introduced as a digital currency and not totally created to eliminate the fiat money. Basically, in the near future people would understand that btc is here in the crypto community to become part of the currency evolution. BTC is more recognize as an investment and that is why more people had been getting involved because it gave them opportunity to  earn profit.

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August 31, 2018, 01:02:44 PM
 #30

Even if 90% of the transactions goes through cryptocurrency, fiat will never be forgotten because it is a basic requirement to measure the value of any other asset.
It is now really the era of digitalisation and anybody can prefer a fastest way to conclude transactions but fiat will exist though

Fiat is necessary because not every people can manage to earn cryptocurrency so banks will remain and bitcoins will be forever in our life due to its popularity globally.
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August 31, 2018, 01:03:17 PM
 #31

It's imposibble to happned there is still a lot of people don't know about the crypto there is a lot of country using fiat currency like for example in rural place that dont have even electric so i think we can use crypto but just in selected places.
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August 31, 2018, 01:15:46 PM
 #32

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 guess no one would even try to eliminate fiat currencies. Fiat currencies make day-to-day transactions much more easier and secure which i think cryptos can't handle the day-to-day transactions. Cryptos are meant for paying for some commofity online and i guess that it is not always needed. Also cryptos are completely decentealised which would never allow them to rule over the centralised currencies.
Also bitcoins and cryptos are only meant for Smart peoples Grin http://imgur.com/gallery/GYgXwFW

   
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August 31, 2018, 01:21:24 PM
 #33

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 don’t need to please in this forum because that things will not gonna happen. Fiat money will stay with us forever, always think that our government will not let that to happen even if cryptocurrency soar higher in the coming years. Fiat money is more convenient to use for an ordinary people, so technically this will stay.

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August 31, 2018, 01:32:54 PM
 #34

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.

actualy,in my own perception its hards to eliminate the fiat and create a cashless society,and its true thats there some country or places far from technology thats without having a computers or even internet facilities,therefore if this the legacy and aims of crypto would happen thats the whole worlds become a cashless society,then its happen so far,and we could not predict the right year.

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August 31, 2018, 01:37:29 PM
 #35

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 totally eliminated without the proper coordination with all the concerns. It will take decade before this will happen and considering that not all country had supported crypto it's still a big question for full implementation of crypto.
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August 31, 2018, 03:18:21 PM
 #36

Not everyone uses computers Even though it will disappear a lot of different ways like a smartphone it can be used in crypto but they can not be used without internet connection.
We do not immediately eliminate the fiats, this is the right reason for modern technology development. all people can not decide what they should be using but for us the crypto is like a stone is very hard to break.
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August 31, 2018, 03:36:46 PM
 #37

Fiat will not totally be vanished and eliminated even if bitcoin and cryptocurrency will be legalized all over the world , because there are places that have no internet access and this will make fiat currency  ,still be useful
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August 31, 2018, 04:07:48 PM
 #38

I am not totally into removing fiat currency due to the reasons you have already provided. But there is no denying the benefits of moving into blockchain with the only drawback of difficulty of access to poor folks. But maybe in the future, this can be fixed also.

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August 31, 2018, 04:08:39 PM
 #39

I am of the opinion that we can not totally eliminate fiat currency.  Because crypto currency can be used only by using some equipment and internet.  May be possible that at some point of time my mobile / laptop is not working; I may not be able to buy the required service.  So for emergency circumstances fiat currency will be helpful.

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August 31, 2018, 05:28:30 PM
 #40

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.

Yes you are right in that case people will still wanting to use fiat in order to survive but for those who are able to invest on cryptocurrency then they are in a huge advantage.

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