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Wilfrer
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October 20, 2018, 03:05:08 PM |
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I think the replacement of USD with satoshi in the future will happen. However, they need to make satoshi popular enough and approved like USD. Because, we can not convert Bitcoin into a currency that is not widely used and is not approved. So, I still think Bitcoin is very dependent on fiat until now
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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crossabdd
Legendary
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Activity: 1316
Merit: 1145
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October 20, 2018, 03:39:50 PM |
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it's a choice from the developer, but I personally don't agree, while we need fiat to transact out there. because Crypto, especially bitcoin is not widely known in all countries of the world. and is currently still being analyzed by the SEC. if it's not approved. then we will again depend on fiat to be able to reciprocal connections.
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nicster551
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October 20, 2018, 03:41:49 PM |
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I read the local news, and there is several articles that made me interesting, a few weeks ago, the mobile version of the Bitcoin wallet bitcoin platform decided to eliminate the conversion of bitcoin currencies with USD. then replaced with Satoshi.
the decision was taken to eliminate dependence on fiat currency. because bitcoin capability if converted to fiat, will interfere.
developer samourai wallet says "farewall fiat" or "goodbye fiat".
That would not decide it all. There are still so many people that are not aware of cryptocurrencies and other digital currencies so they will still be a lot of people to be against that. |
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kentrolla
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October 20, 2018, 04:02:31 PM |
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it's a choice from the developer, but I personally don't agree, while we need fiat to transact out there. because Crypto, especially bitcoin is not widely known in all countries of the world. and is currently still being analyzed by the SEC. if it's not approved. then we will again depend on fiat to be able to reciprocal connections.
Yes that's correct and we think that we got enough members to use crypto in real life but the fact is different, there are more people in the world who has no idea what crypto is all about and if SEC rejects it then those who already use bitcoin will be skeptical as it will be rejected. |
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happen or be a part of it"
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izanagi narukami
Legendary
Offline
Activity: 2030
Merit: 1028
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October 20, 2018, 04:08:30 PM |
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IMO, the fact is it will never happen because crypto and fiat are completely different platform of transaction.
Crypto is an asset just like gold etc meanwhile fiat is legalized transaction so if the government want to legalized crypto as fiat, I'm sure they need to make new regulation and the process is complex because crypto security still flaw and the value still volatile !
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dmamigo
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October 20, 2018, 07:43:45 PM |
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Fiat/USD being completely vanished or being useless to the society is not possible. Even if we consider the fact that all the government moves to crypto for their financial system, each country will have their own regulated cryptocurrency for sure. The only difference will be physical fiat will be exchanged with crypto. So technically fiat will be always there with us even after many decades.
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SventraPapere
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October 20, 2018, 07:49:58 PM |
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That's just great news!One more step on the way to victory!The dollar is already rather fed up with all.I think getting rid of Fiat is one of the main goals and objectives of the cryptographic community.I think soon other wallets will take it for service.Our task is to support them in this.We need to constantly develop the system and never stop there.
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devinks
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October 20, 2018, 07:55:10 PM |
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That's just great news!One more step on the way to victory!The dollar is already rather fed up with all.I think getting rid of Fiat is one of the main goals and objectives of the cryptographic community.I think soon other wallets will take it for service.Our task is to support them in this.We need to constantly develop the system and never stop there.
I am not sure if the world crypto get rid of fiat money immediately, of course, if told to choose the community, they prefer fiat money because fiat money has long been a trust as a legitimate and real payment instrument. it took a very long time and convinced the community and the state government that crypto could get rid of fiat money. |
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pavka
Member
Offline
Activity: 322
Merit: 10
The New Pharma-Centric Marketplace
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October 20, 2018, 08:38:41 PM |
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Fiat, of course, needs a receiver, and why should they not be Bitcoin. However, Bitcoin is not yet ready to perform all the functions of money, it still takes time, and the dollar is clearly not ready to give up its positions in the world. So in the next decade, I think the monetary revolution will not take place.
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boakyei
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October 20, 2018, 08:44:58 PM |
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Fiat currency is replaced with crytpocurrency in digital forms but not physical cash. In our daily transactions and as long as government still controls the monetary policies, it is highly unlikely that fiat will get exit from our system.
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Elerntta
Member
Offline
Activity: 490
Merit: 10
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October 20, 2018, 09:45:35 PM |
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I'm really looking forward to the time when bitcoin can exist separately from Fiat. But I think it's too early to talk about it. Bitcoin is still too unstable for full use, so we need it in connection with Fiat for now.
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bigbosma
Member
Offline
Activity: 378
Merit: 10
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October 20, 2018, 09:56:23 PM |
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I don't see much point in saying goodbye to our usual money systems. Moreover, while we do not use bitcoin in our daily lives as a currency. Therefore, at this stage of development bitcoin, Fiat and dollars are still necessary for us.
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Bobby park
Member
Offline
Activity: 546
Merit: 24
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October 20, 2018, 10:05:18 PM |
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I read the local news, and there is several articles that made me interesting, a few weeks ago, the mobile version of the Bitcoin wallet bitcoin platform decided to eliminate the conversion of bitcoin currencies with USD. then replaced with Satoshi.
the decision was taken to eliminate dependence on fiat currency. because bitcoin capability if converted to fiat, will interfere.
developer samourai wallet says "farewall fiat" or "goodbye fiat".
I don't think that fiat currency will remove from our society. A lot of people still now that used fiat rather digital currency. There are still number of people who can't afford to buy digital materials just to make it as wallet. Computer literacy is not yet high in every country. Therefore, fiat is only currency they can use nowadays. |
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minhlee95
Full Member
Offline
Activity: 527
Merit: 101
DIA | Data infrastructure for DeFi
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October 20, 2018, 10:13:18 PM |
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I agree that we're trying to say goodbye to Fiat early. Yes, I also want to switch to digital currency as soon as possible, but it is still in the process of development, and we can not use cryptocurrencies instead of the usual dollars. Because whether we like it or not, Fiat will live on and be actively used.
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Shishir99
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October 20, 2018, 10:24:46 PM |
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Do you really think fiat will be gone forever?I really don't think so because we are so much dependent on fiat currency that it will be impossible to get out of it.We need decentralised system but that doesn't mean fiat or usd will not exist.
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Ekimzjames20
Member
Offline
Activity: 348
Merit: 10
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October 20, 2018, 10:54:46 PM |
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Do you really think fiat will be gone forever?I really don't think so because we are so much dependent on fiat currency that it will be impossible to get out of it.We need decentralised system but that doesn't mean fiat or usd will not exist.
The fiat and usd at this point is very useful where ever we go, so i think it will not gone in this entire nations. Fiat and cryptocurrency will co-exist, for goods. |
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Zainal-baguz
Jr. Member
Offline
Activity: 175
Merit: 1
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October 20, 2018, 11:07:22 PM |
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if we still can't, we say FIAT and USD goodbye. because we still need it now, bro. because some countries still have not received bitcoin. even some people still don't know the world of bitcoin
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█▐ ▏ DDCT ▕ ▌ https://digitaldollarcoin.com/ ▕ ▌█
∎∎∎∎ The etherMillennium Coin of the Century ∎∎∎∎ |
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Kencha77
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October 20, 2018, 11:12:17 PM |
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Cryptocurrencies should be stable first before they will have the capability to overthrow USD and fiat. Even though there are cryptocurrencies out there which could be considered stable like tether, they are all considered stable but their value are still based on USD. Although it should be noted that having a cryptocurrency that will become a basis for other cryptocurrency prices, even if it is still based on USD, it could be a proper step in the right direction instead of basing from a cyptocurrency that is not stable
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Menawi12
Member
Offline
Activity: 700
Merit: 10
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October 21, 2018, 12:56:53 AM |
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I read the local news, and there is several articles that made me interesting, a few weeks ago, the mobile version of the Bitcoin wallet bitcoin platform decided to eliminate the conversion of bitcoin currencies with USD. then replaced with Satoshi.
the decision was taken to eliminate dependence on fiat currency. because bitcoin capability if converted to fiat, will interfere.
developer samourai wallet says "farewall fiat" or "goodbye fiat".
In real life, its hard to say goodbye to fiat money. If we are looking on exchanger right now, many stable coin backep by USD and its describe that we can not say goodbye to fiat money. People in real world more convinience using fiat for transaction because many country dont have regulation about it |
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piterpie
Member
Offline
Activity: 280
Merit: 10
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October 21, 2018, 07:13:39 AM |
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Crypto is an alternative to fiat money. Their value is determined by the law of supply and demand, based on the exchange activity of other commodities or top currencies, and is not supported by any. monetary authorities.In addition, Crypto is a breakthrough and innovative. Other influential initiatives in the financial sector such as Bitcoin, which is a digital co-operative operating in a decentralized way with P2P technology, or blockchain, and without the involvement or supervision of any central bank or organization.
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