Please, we should not totally eliminate fiat currency

[Vishnu.Reang]

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.

LOL.... sounds as if Bitcoin is in a commanding position to eliminate fiat currency from the globe. But the reality is far bitter than that. It is an entirely different topic what the crypto-users want to do with fiat. What matters is whether they have the means to do that or not. All I would say is that, right now cryptocurrency poses no challenge to fiat cash in any form.

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[tonyvo2017]

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.

Not only about liquidity in rural areas and those who do not know how to use technology. The bigger issue is politics and history. Fiat money has a lot of historical value and is very political, we cannot eliminate it and replace a common currency.
Although it is a good theory that the whole world uses a common currency, regardless of rich and poor, there will be rich countries that disagree and poor people will have difficulty in using cryptocurrencies.
Therefore, we should still keep fiat and cryptocurrency circulating and it will create a much bigger value.

[Polo7]

People love cash, i do like cash, cash is king!!

[bitbunnny]

Fiat currencies will not be eliminated. Dreaming about cryptocurrencies to replace fiat is pure utopia.
Traditional financial.and economic system is based on fiat and it will stay so. Cryptocurrencies don't have the potential to carrey out economy and financial system and can't give it stability that is needed. But I guess only few crypto users don't realise that fiat money will stay dominant.

[Polo7]

Fiat currencies will not be eliminated. Dreaming about cryptocurrencies to replace fiat is pure utopia.
Traditional financial.and economic system is based on fiat and it will stay so. Cryptocurrencies don't have the potential to carrey out economy and financial system and can't give it stability that is needed. But I guess only few crypto users don't realise that fiat money will stay dominant.

I agree with you 100%   its true!!

[boltz]

But who said FIAT is gonna be wiped out from use ? So far FIAT is a currency that governments declared it legal and backed it up. I assume you're thinking that in the future Cryptocurrencies will take over FIAT and it will make FIAT go abolish but this is a long process that maybe our grandsons will live those time rather than us.
Right now if you go in 70% of the countries of the world , 90% of the people still don't know or don't believe in crypto or Bitcoin and then if you go further and ask them if they could start use Bitcoin instead of fiat, they will think you're nuts as they want to have something "in hand" that actually have value.

[HarmonyA]

Fiat cannot be eliminated because the entire world populace is not educated. There are lots of places where it will be difficult to transact without fiat. The traditional system of the financial transaction cannot be eliminated. This is the system my grandparents believe on, and it is easier for dem to transact without fear, fraud is highly reduced and trust is strongly initiated.

[meliodas]

Even though we would like to eliminate the fiat currency, we just can't do that. The governments, the whole world, just purely rely on the fiat currencies. Fiat currencies is the stable type of money and fiat will stay in our world, even we like it or not. Fiat currencies are always be the base money for us, even we invested and profited from our investments, we will always back to fiat currency.

[qwertyup23]

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.

What will eliminate the fiat system is not cryptocurrency but time which is inevitable to change.

Cryptocurrencies are considered the top choices when the world adapts to an implementation of electronic cash. Merchants nowadays begin to accept bitcoin as a form of alternative payment to their respective products/services and there are other large companies that began accepting cryptocurrency as a whole.

Also do note that due to a large economic discrepancies among developed, underdeveloped, and developing countries, the latter will have a difficult time adjusting due to lack of access to such. That is why, cryptocurrency will not be able to replace fiat today but MAYBE in the future once we shift to the modern era.

Fiat cannot be eliminated because the entire world populace is not educated. There are lots of places where it will be difficult to transact without fiat. The traditional system of the financial transaction cannot be eliminated. This is the system my grandparents believe on, and it is easier for dem to transact without fear, fraud is highly reduced and trust is strongly initiated.

That is correct. Countries who are on the short end of the stick will suffer more in the damage compared to developed countries who has the potential to own the majority of its supply.

[$Andreyka$]

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 surprising that people want to destroy Fiat, despite the fact that in 90% of cases they themselves buy food for Fiat. Personally, I do not want to destroy anything. I wish the largest possible number of people and legal entities use cryptocurrency.

[Pab]

We are not able to eliminate fiat currencies.We don"t have that kind of power

But we are close to time when Central Banks will issued his crypto currencies
They will be issued by Central Banks so that kind of currencies will be not decentralized like bitcoin and other crypto are.China is close to release his Digital Yuan. EBC wants to develop his digital euro.That idea is very much supported by Madame Lagarde .I think Russia can follow But i am sure that cash will remain for longer time

[UsernameBitcoin]

It isn't about us eliminating fiat currency. Things happen naturally, in terms of if financial markets push fiat currency out of existence, then that's what was meant to be. However, if there are uses for fiat currency in the future then it will probably stay. We can't predict the market, so we should just do what's right and see what happens.

[meliodas]

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.

This wont happen because not all people know what crypto currency is. I cant see any reason that flat currency will be elimated. In addition without internet you cannot use your crypto. Other crypto are not yet acceptable in any store where you can use it when it comes to paying bills or other stuffs. Flat currency will alwyas remain no matter what happen.

Of course it will still remain in our world and to be honest, we don't need cryptocurrency to replace the fiat currency because the fiat currency is perfectly working. The fiat currency will just evolve but it will not vanish like what other people like to see because the government will not let that happen because if fiat currency will be eliminated then it is the end of the country.

[Bustart]

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.

This wont happen because not all people know what crypto currency is. I cant see any reason that flat currency will be elimated. In addition without internet you cannot use your crypto. Other crypto are not yet acceptable in any store where you can use it when it comes to paying bills or other stuffs. Flat currency will alwyas remain no matter what happen.

Of course it will still remain in our world and to be honest, we don't need cryptocurrency to replace the fiat currency because the fiat currency is perfectly working. The fiat currency will just evolve but it will not vanish like what other people like to see because the government will not let that happen because if fiat currency will be eliminated then it is the end of the country.

I don't think that with the evolution of Crypto it can totally eliminate Fiat. Fiat is what the government declared to have legal tender while crypto is the one with no central command and may not be widely-accepted yet. We might have different perception about Fiat and crypto, both can be called money or currency but both are medium of exchange that are use to store and transfer value, both have value governed by supply and demand, and other economic factors.

[robelneo]

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'm 100% agree we still need fiat, we will have a lot of issues and problems if we stop using fiat, Bitcoin and other Cryptocurrency are internet-based, there are places that still do not have internet or weak internet connection like several provinces in our country, and there are ethnic group that prefer fiat, let them have a choice we still need fiat our daily lives even if we are using Bitcoin to all our transactions.

[fuer44]

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, for now indeed there are still many villages in various countries that have not been reached by the internet or computer facilities. if in the future, maybe the technology is more advanced and the internet will almost reach all parts of the entire country. if so, using crypto is indeed very effective and more sophisticated.

but, remember that there are still things that are not very effective at using crypto. like buying cheap goods or services I think I have to use fiat. after all fiat or paper money is the identity of the country so that it is different from other countries.

[Sithara007]

This wont happen because not all people know what crypto currency is. I cant see any reason that flat currency will be elimated. In addition without internet you cannot use your crypto. Other crypto are not yet acceptable in any store where you can use it when it comes to paying bills or other stuffs. Flat currency will alwyas remain no matter what happen.

There are several reasons why cryptocurrency will fail to completely replace fiat cash and the fact that cryptocurrency won't work in the absence of internet sounds like the most convincing argument. On top of that, you need either a smartphone or a laptop to install your wallet software, while dealing in fiat banknotes and coins doesn't require any of these things. Another practical difficulty may arise from the fact that the vast majority of the world nations operate on budget deficits. They balance their budget, by selling their debt to their own citizens, and sometimes to other countries. While this is a very simple process as long as fiat cash is involved, it gets complicated if they have to do the same with cryptocurrency.

[conected]

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'm 100% agree we still need fiat, we will have a lot of issues and problems if we stop using fiat, Bitcoin and other Cryptocurrency are internet-based, there are places that still do not have internet or weak internet connection like several provinces in our country, and there are ethnic group that prefer fiat, let them have a choice we still need fiat our daily lives even if we are using Bitcoin to all our transactions.

- Obviously, virtually all cryptocurrencies require an internet connection in order to perform the transfer and receive operations, besides, the owner also needs knowledge and appropriate wallet addresses for customers, not every store is well versed in this option. That is the first problem we will face, the next will be the value of the product, even the value of crypto that we own, every day a different price, I don't think we have enough time to handle this problem, while with the familiar fiat currency, simple and fast handling, I don't understand why the idea of getting rid of it came out.

[teosanru]

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.

Oh well you look so cute while saying this . So innocent who thinks that we all are walking tomorrow morning towards the President's house and giving our dissent to Fiat forever. Chill Bro don't freak out. No one is going to eliminate fiat in near future. Forget rural, even the urban crowd doesn't knows completely about cryptocurrencies and its usage. Even if everybody gathers around knowledge of BTC. It's hard thinking that we have no fiats because that would be a day when we are also completely forgetting our governments because they are in political supremacy because they can control the finance of their country. Without that they are just puppet ready to be overthrown.

[ShooterXD]

There is currently no reason why fiat money should be eliminated.
In the future, with the evolution of humanity and a greater globalization, it may be that at first they create a unique fiat money, and later leave it only digital.
But for that, we have a lot of ground ahead.