Please, we should not totally eliminate fiat currency

[binhvo1505]

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 totally agree with you. There are many people who are illusions about the future of Crypto. They think the Crypto can replace fiat money to do everything and pay at any time. These are bad thoughts and they do not understand the world at all. I still prefer to use fiat money because it has a lot of meaning in human history.

[smile1218]

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 the fiat money will not be eliminated  it will take more years to be eliminated. If the acceptance of crypto  currency will spread through out the world and to all the people that will be the time fiat could be eliminated. For now it is no.

[Gheka]

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 the fiat money will not be eliminated  it will take more years to be eliminated. If the acceptance of crypto  currency will spread through out the world and to all the people that will be the time fiat could be eliminated. For now it is no.

Fiat will never be eliminated, now or even years later, fiat will still exist over time because fiat's role is undeniable, it has become a popular tool and is widely accepted everywhere, the convenience of it has created a stable and balanced society. This is something the governments of countries need so many years to achieve, and so they will not be able to because the appearance of crypto that discards this useful tool, this unnecessary replacement just makes things difficult and impossible to solve, they will not do this silly thing, destroying and rebuilding a new system will take a lot of time and prevent the development

[leea-1334]

I do not see what you see, strangely. Everyone almost in this forum still talks about dollars so clearly they want their profits in dollars, rather than Bitcoin or other crypto. Alt holders especially cannot wait to turn their bags of tokens into dollars.

But watch where you tread. Fiat will be eliminated on its own without our meddling. US dollar is strong today but it is weakening every day and every year. Look up US debt and you can understand.

[MathiasCrow]

Fiat currencies will remain, two main reasons come to my mind.
First of all, some countries will continue banning Crypto. Even if people of these countries will adopt Crypto and find ways to avoid this ban, the government will continue to issue and support fist money.
Further, Crypto works on a different principle than fiat money. Fiat leaves a lot of opportunity to cope with economic problems - for example, issue more money, arrange devaluation, etc. Crypto is very limited in this aspects and focuses on completely different features like anonymity and transparency. It is better for common people, but not that great in terms of control. Thus, Crypto should be considered not as a substitute for fiat money, but as a complementary element of the global economy.

[djselery]

I think we can't eliminate fiat currencies, even if we like to eliminate them. The usability of cryptocurrencies around the world is still really limited, and it is mainly used online not offline in the majority of countries. In addition, most countries and governments stay supporting only the fiat currencies, right now.

[HarmonyA]

We are not the government behind fiats, cryptocurrency is still at it infant state. Fiats have been there for us despite it challenges. The illiterate populace can't use crypto, therefore crypto and fiats will work together.

[aeternus]

Yes, there are countries that are outdated in terms in technology. Like the adaptation of crypto currency, so they need to used fiat for their modes of payment.

I do not know what the technology has to do with anything, all the countries around the world are using fiat in one way or another and it is unlikely that cryptocurrencies are going to change that, but cryptocurrencies will allow people like us that are using the technology despite not being fully functional to avoid fiat if that is what we desire.

[deppil]

No time that fiat will totally be eliminated in the world, cryptocurrency may dominate in the developed countries but it will be difficult in developing and underdeveloped countries due to some necessary infrastructures like internet that may not be available.

yes maybe developing countries will use fiat money more because fiat money has become a daily necessity for their people. but if the developing country is able to do so it will definitely add benefits to the country itself.

Nope I think even in developed countries they have their own rules where the government will always keep fiat as the main currency. bitcoin is just a foreign currency. even though its use is not prohibited but of course there will be restrictions such as rules and regulations that govern it. it's impossible for fiat to be eliminated

[Santoshi_my_God_]

don't just thinks for yourself,think for those peolpe who live in rural area, where is lack of computer and internet, what they do if there is no fiat currency, They can not exchange by bitcoin or other cryptocurrencies

In my opinion if people stay in crypto market for long time and do not quit, the investment cap will not decrease and I hope due to this the price will go up but never down. You are right patience is required for staying crypto for long time. Other thing is trust and belief. If people believe crypto they will invest their money and the demand for crypto will increase and so the price.

[nicster551]

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, we can't do that for now because everybody is still using FIAT and those people who are saying that we should eliminate it because they just want their coin to pump and get a lot of money from it. Greed talks here.

[ChandraGold]

Fiat currency is what we need to maintain the global economic system. From my point of view, even cryptocurrency has a lot of advantages, it still can not become an official currency and we also can not eliminate fiat currency.

[jonaire99]

don't just thinks for yourself,think for those peolpe who live in rural area, where is lack of computer and internet, what they do if there is no fiat currency, They can not exchange by bitcoin or other cryptocurrencies

You're right sir, in fact majority of the people are not yet cyber literate and others has even no access on internet. I think it will take time before all of the people become good in online trabsactions. These people still prefers fiat over cryptocurrencies because they don't have to transact online to make the fiat available.

[sulendra12]

In my opinion if people stay in crypto market for long time and do not quit, the investment cap will not decrease and I hope due to this the price will go up but never down. You are right patience is required for staying crypto for long time. Other thing is trust and belief. If people believe crypto they will invest their money and the demand for crypto will increase and so the price.

Nice post.

But watch where you tread. Fiat will be eliminated on its own without our meddling. US dollar is strong today but it is weakening every day and every year. Look up US debt and you can understand.

Just don't let your ego making you feel bad. Even though US dollar is becoming weak everyday but that's pretty normal for flat currency experience those kinds of stuff(that's what we called inflation/deflation) but just imagine using cryptocurrency yet some peoples still doesn't know how to operate them.  That's silly to force your opinion.

[cc80aa]

I dont think its a good option to off the fiat currency they cannot afford crypto to replace it since it was limited reserves, 2021 is bitcoin mining is finish and mining we need it to run the system.

[PlusOne88]

I don't think it will actually replace fiat. It is something that might not happen because cryptocurrency is also dependent or is affected by fiat in terms of marketability. The main reason why people would want to invest in cryptocurrency is because they would want to earn money or fiat, that is why there are exchanges facilitating conversion between the two otherwise exchanges wouldn't care about fiat to cryptocurrency conversion and instead would focus on crypto to crypto conversion.

[hoverdrone]

You say 'we should not' as if we actually could.
There will never be total acceptance of Crypto, let`s be honest. Some countries will never accept it completely, as it has different features than fiat and is not that suitable for government control.
This countries will push for their fiat currency, and something tells me that the USA will be among this countries.

[adzino]

I don't think it will actually replace fiat. It is something that might not happen because cryptocurrency is also dependent or is affected by fiat in terms of marketability. The main reason why people would want to invest in cryptocurrency is because they would want to earn money or fiat, that is why there are exchanges facilitating conversion between the two otherwise exchanges wouldn't care about fiat to cryptocurrency conversion and instead would focus on crypto to crypto conversion.

You are wrong here. Crypto currencies are no way dependent on fiat or its value. Fiat is just used relatively to measure the value of crypto currencies. If fiat ceases to exist, this does not mean the bitcoin or other crypto currencies will be destroyed. In fact, we might be getting into better terms of usage of bitcoin. That is people will start setting prices of goods and services using bitcoin. What I mean is, the way they set their price of an item using USD. Just think the other way, how to people set the price of items in US dollars when they the USD itself is not backed my anything?

[yvesp110]

Fiat currency is what we need to maintain the global economic system. From my point of view, even cryptocurrency has a lot of advantages, it still can not become an official currency and we also can not eliminate fiat currency.

We can do this because it is a currency only but crypto currency is an investment as use to invest it for our better financial crises. We can reduce the number of crises and we can get better earning resources we should try to use crypto currency the most as it gives us profit as well saves our future we can do anything with crypto what we can do fiat, so the future of fiat is not so good according to me.

[avarnet]

Fiat currency is what we need to maintain the global economic system. From my point of view, even cryptocurrency has a lot of advantages, it still can not become an official currency and we also can not eliminate fiat currency.

We can do this because it is a currency only but crypto currency is an investment as use to invest it for our better financial crises. We can reduce the number of crises and we can get better earning resources we should try to use crypto currency the most as it gives us profit as well saves our future we can do anything with crypto what we can do fiat, so the future of fiat is not so good according to me.

but if in my opinion the fiat currency will not be eliminated and replaced with a digital currency, because the fiat currency has become a symbol of various countries, if it is removed, the government certainly will never remain silent and it could also be banned by the state country in this world