Please, we should not totally eliminate fiat currency

[BaraxLo]

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.

As much as I know that a lot of people in this community hates fiat, that is not enough reason for the world to stop making use of fiat. But from the way I see it, only a fool would say that they hate fiat, someone in his right senses wouldn’t say. I don’t really know what makes some people to think that cryptocurrency is a better option.

Some of them even say that crypto will free countries from debt, but my question is how exactly is that ever going to happen? If the world should move to using crypto, that doesn’t make anyone who is in debt to go free.

[aeternus]

Of course fiat currencies will still be used in such a place, because in reality not all places have infrastructure and facilities that support online transactions. Fiat will still be there, but what is needed now is trust and recognition of cryptocurrencies that can be used as legal payment instruments such as fiat currencies. This is what we stand for

What we need is adoption, we do not really need the government or anyone else to give a statement saying that bitcoin or any other cryptocurrency it is actually a form of money because in the practice that is the way we are using them so the recognition is useless, what we need is that people stop mistrusting the market of cryptocurrencies and they decide to adopt it fully.

[tominsoto]

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

[Ondre]

I think it will take something maybe years to eliminate fiat money because many people still very dependent on it but i think it will be eliminated still when everyone will be instructed to use blockchain technology.

[iMark]

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 my own opinion, government will not eliminate cryptocurrency immediately since there are a lot of people today in the market who are investing cryptocurrency and that is the reason why it will be very useful for different people to have more income monthly but fiat will still be very important for different people.

It will never be happened, since there are still 3rd world country's which means not yet using internet technolgy where as they are still using traditional transaction through fiat. And I guess, the crypto will be evolved, but not totally being the main currency in the future, it will still an alts, and more be countries will be using it.

is a silly thing to change the world payment system and currencies that have existed for hundreds of years, I know how much you love crypto and I am also sure that the development of crypto will be good in the future, but that does not mean replacing fiat backed by the government.

[shanghai]

That is true for poor places or poor countries, they can not use technology, they do not know a thing about it, they are afraid to use it, they use cash. But by the time cash will also be replaced by cryptocurrency is evident.

[Lorna111]

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 happened even for a decade. Don't worry.

Most people here just expecting too much without looking at the reality and the massive effect of it.

Crypto will grow more but fiat will still be there.

But it is also only a matter of time before there's access to internet and terminals in shops with paypass option everywhere. As more people join the net, cryptos will become more and more useful. Fiat must go away eventually, just as it was created at a specific point of time not that long ago. The idea of not backing up the main currency and allowing potentially infinite supply was doomed at the very beginning. It's just that people couldn't find a better solution back then. As now we have it with a way of predicting the amount and mining coins gradually, we are bound to adopt it.

   My one cent opinion on the above Topic as posted. Fiat currency in circulation is under the responsibility of the Government we belong. There are Laws covering the Used of Fiat money for any transaction with in each country, The Central Bank of this country has the Regulatory power to control and empower the people in reference to the use of Fiat currency. The entry of Crypto Currency Market still under study by the Government Financial Institution either to forgo Regulation and open the Business Market to the Use of Crypto, Not until this issue is Resolved we can do nothing except to wait.

[heninur]

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.

no matter how strong humans want to eliminate fiat, I don't think that will happen, because not everyone knows and understands digital currencies, it is very difficult to give an understanding of digital currencies to all humanity, especially to the elderly and people in the countryside .
even today there are still many countries that do not accept cryprocurrency.

[Vzae]

That will never happen, because formally everyone will definitely use fiat money for offline transactions. With that, fiat currency will be difficult to replace its position.

[Kapee]

Fiat currencies can never be eliminated due to the initiation of cryptocurrencies. I like to use fiat currencies in my daily transactions. Cryptocurrencies are worth investing into and fiat currencies are to be given the maximum attention too.

[Vritesh]

Fiat currency cannot be eliminated at all.Still fiat has more users than Cryptos and I think it will be like that only.Cryptos are gaining popularity and no doubt they will be used on large scale in future but place for fiat will always be secured. Both cryptos and fiat will be there in future and fiat will not be completely eliminated.

[BennyK]

Fiat cannot be totally eliminated because it has got the backing of the governments in our countries. Fiat and crypto will rather coexist until our societies go cashless. Now, every final exchange of crypto is to fiat.

[yoseph]

Fiat cannot be totally eliminated because it has got the backing of the governments in our countries. Fiat and crypto will rather coexist until our societies go cashless. Now, every final exchange of crypto is to fiat.

Though I believe that a time will come in the entire world when FIAT will completely nother be used anymore, I don't think this is the time that it's going to happen. Most people and business particularly in Africa are not ready to stop using fiat for any sort of digital currency.

[Xising]

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 agree. Also, I think that this will happen more than most people here are saying that bitcoins will end fiat once and for all. I say that because of the fact that fiat money has been in circulation for a way longer period of time compared to cryptocurrencies, therefore, it is an expected thing that fiat has more people showing trust in it, it's more stable, and many are still more convinced on investing, doing business and holding it as compared to cryptocurrencies. Like I say all time, I more so foresee cryptocurrencies inter-playing and competing in the market than it totally eliminating fiat.

[Bonsaiav]

The use of fiat currency, as a medium or exchange/buying and selling tool has been started for a long time. When the presence of precious metals such as gold and silver has made it an exchange tool, that belongs into commodity money. Its fluctuations in value and the scarcity of the resources of the two metals are believed to trigger the birth of a new medium of exchange called fiat money. The nominal value stated in fiat currency usually exceeds the raw material price, and this value's determined, by law as well as government policies of a country that have been agreed upon by the community.
Technically the value of fiat money remains influenced by fluctuations in the value of the commodity namely gold.

I think fiat currencies cannot be eliminated easily because this currency's always needed in daily activities. The role of fiat currency in meeting the needs of life's an undeniable thing. As long as the government of a country is still standing, then the fiat currency used is still valuable and can survive. This 'thing' applies, for every fiat currency in any country.

[Burogh]

Its hard to eliminate fiat money because in many country, bitcoin or cryptocurrency not popular. Beside that, many areas dont have good internet infrastructure, and that make paper money needed.

[Kasabus]

Its hard to eliminate fiat money because in many country, bitcoin or cryptocurrency not popular. Beside that, many areas dont have good internet infrastructure, and that make paper money needed.

It's not only base on internet structure, but also we consider the acceptance of that certain community. As we knew that still a lot of establishments aren't accepting digital currencies and may preferred of having fiat money.

[Angi]

Fiat money is our traditional way of transaction were we are and fiat is acceptable to all nations even in rural places so fiat is not merely replacing because of OP said that their is many places that to internet connection or what should I say is digital things so if they wan't to use digital money its hard to them.

[VaryTime]

I agree with you because the world economy need fiat to maintain the world. If not, the economy system will really complex and  the government can not control their country.

[MMysterious]

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 dont think fiat currency will be eliminated so fast that can be dangerous to us like you said that rural places dont have internet that can access digital cash. I can say that fiat currency will be eliminated when people all over the world is ready to the change that it will bring. And maybe it will take 20-30years for that to happen. In my opinion digital cash and fiat currency will co-exist and not one of them will be eliminated. For the fact that people will believe and accept that digital cash and fiat currency as a medium of trading goods and products.