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Author Topic: Please, we should not totally eliminate fiat currency  (Read 27219 times)
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January 01, 2019, 04:38:06 PM
 #501

Yes we should need Fiat currency in order to manage the whole economy of the country. There are certain things which should consider while eliminated totally fiat currency --
1. There are different kinds of people ( educated, uneducated and semi educated )  so it is very difficult to understand semi educated or uneducated people about cryptocurrency.
2.  Adoption of technology can be reason

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January 01, 2019, 09:51:31 PM
 #502

We cannot eliminate fiat currency. Fiat currency are here to use it for a long time. Fiat currency are more convenient to use by everybody. Rich or poor educated or uneducated.

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January 01, 2019, 10:28:34 PM
 #503

Fiat money and cryptocurrency can exist together. They have similarities in functuons but they also have differences. Cryptocurrency will be very useful in online based financial transaction. While offline transaction fiat money is very useful.



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January 02, 2019, 03:04:14 PM
 #504

Fiat will always be here. I'm speaking of the US, it's just hard to get hundreds of millions of people to accept that. Specially when it's all they've known.
I'm sure that the US dollar will not always be. It doesn't matter that now the whole world accepts this currency. Monetary relations are present in a human’s life for not too long. It should also be borne in mind that they are constantly subject to various changes and adjustments. Since the world has already become acquainted with electronic currencies and has partially started accepting them, I'm sure that now it is only a matter of time. Sooner or later, humanity will become so developed that there will be no need for money-paper, including in US dollars.
Of course, at this stage of development, it is still too early to talk about this (above, in a post, I expressed my point of view on this matter), but for the distant future this is a real scenario.
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January 02, 2019, 03:37:25 PM
 #505

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 in this forum can only talk, bht they can’t do anything. And by the way they are not even the decision makers, they are just here to discuss about Cryptocurrency and how to help themselves achieve. You can’t eliminate fiat but cryptocurrency can be eliminated. All these people you will see ranting in the forum on how much they hate fiat are the first to withdraw when the price of crypto falls.
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February 10, 2019, 08:57:35 PM
 #506

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 the near future, Fiat will not disappear - today making cashless transactions in all parts of the world without exception will fail. A number of operations still require Fiat. Perhaps this will happen, but in a very distant future.
It is possible that even in the distant future we will need fiat in one form or another. In any case, as long as there are states with their own political and economic interests, the currency fiat will be in each state. Therefore, it is not worth worrying about. Different forms of payment may be added, but they will go simultaneously with the national money of the states.
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February 10, 2019, 10:12:38 PM
 #507

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 happen even for the upcoming years. Fiat money are issued by the government and it was regulated. It is used everyday of our lives to buy and sell,for exchange and trading,for marketing and salary. Even cryptocurrency will success,well known,well used,has a higher value,for me,it won't replace fiat money.

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February 12, 2019, 03:41:42 PM
 #508

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 happen even for the upcoming years. Fiat money are issued by the government and it was regulated. It is used everyday of our lives to buy and sell,for exchange and trading,for marketing and salary. Even cryptocurrency will success,well known,well used,has a higher value,for me,it won't replace fiat money.

Don't worry because even if a lot of people want to, it's a fact that fiat would be here several decades from now. Technology is fast growing and spreading but there are places where it'll have a hard time to take grip. Even in an advanced society, physical exchanges would still be in demand.

 
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February 12, 2019, 06:55:21 PM
 #509

Without realizing it, actually before crypto appeared, banks all over the world had begun trying to eliminate fiat currency, namely with digital transactions. When we have account numbers in several banks we can make transactions digitally using ATM machines, online banking, or mobile banks. However, at this time we still need physical fiat currency because in some regions there is no internet access.
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February 12, 2019, 09:24:08 PM
 #510

Who says fiat currencies will disappear completely? Although there are many advantages of crypto currencies, some people will not immediately give up their habits. Different types of currencies today are used actively in the World and  a large part of them will continue to be used in the future.
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February 13, 2019, 04:54:46 AM
 #511

of course not, I am sure that FIAT currency will not completely disappear or not be used, even though in the future digital currencies and crypto currencies have become global transaction tools that are legalized and approved by all countries in the world, but FIAT currency will still be used.

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February 13, 2019, 05:05:42 AM
 #512

Apart from the internet facilities, how will children go to school with their daily lunch token with on crypto currency?
Likewise the very aged ones that may not be able to operate the system.
The illiterates around.Even our day to day petty trading.  Though, people like us may go to the grocery with ATM card for payment at once. But it cannot just work like that.
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February 13, 2019, 07:01:30 AM
 #513

of course not, I am sure that FIAT currency will not completely disappear or not be used, even though in the future digital currencies and crypto currencies have become global transaction tools that are legalized and approved by all countries in the world, but FIAT currency will still be used.
I think crypto can be legalized throughout the world as a good companion of fiat currency, so I agree with you, that fiat currency cannot be eliminated by crypto currencies. we know the current cryptocurrency struggle, many have encountered obstacles, hopefully it can overcome the obstacles that exist

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February 13, 2019, 07:46:07 AM
 #514

I absolutely do not believe that the total elimination of fiat is something we should be scared of. For all the advantages of cryptocurrencies, we cannot deny the fact that fiat still trumps it in many ways. Take for example in the rural areas where computers or mobile phones are not available, wouldn't they still stick to fiat?. I am of the opinion that the best we could hope for is that these two currencies work hand in hand. Till the end of time, we'll always need a means of exchange which can be handed over from one person to another physically.
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February 13, 2019, 08:14:21 AM
 #515

Eliminating fiat completely and replacing it with Cryptocurrency would mean cutting off those in the rural areas, those that don't have access to Internet and the illiterate among us from excersing their rights as citizens of the world.
Eliminating fiat completely is not that possible .

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February 13, 2019, 10:56:54 AM
 #516

I do not think that it's that easy and possible for fiat to be completely eliminated and replaced with Cryptocurrency.
There are people amongst us who are not literate and so wouldn't be able to flow with the tide of using Cryptocurrency for their daily activities.
There are also those especially in rural areas that do not have access to Internet services....how will such  people cope without fiat?
You answer is as good as mine.
So fiat is very important.
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February 13, 2019, 03:04:46 PM
 #517

Yes mate we should not eliminate fiat because it is still useful in any cases like what you said in the rural places that usually don't use online currency. And I think people in the rural places will really confused in using it once they are being paid by it with the people's who know online currency.

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February 13, 2019, 03:08:25 PM
 #518

actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.

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February 13, 2019, 10:52:40 PM
 #519

actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.
crypto is not acceptable to many people, even today there are still many people who still have problems with the bank system and the use of ATMs. universally many will not be able to adjust economically, and fiat is the most quality model. Fiat removal is very unlikely, but the volume of crypto users will indeed continue to increase because the era continues to grow.
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February 13, 2019, 11:00:35 PM
 #520

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 it will not happen that fiat will eliminate because in decades we use it in crypto and like you said not all times we can use the crypto in some situations. So I think in consideration it will not happen.

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