harmonization of fiat and crypto

[Bonsaiav]

I have read several threads that say "fiat will die and will be replaced with crypto" as you agree? I personally do not agree. because when the real system is already established in value and a new system comes with a fluctuating value, the government will not take that risk. But do you agree if Fiat collaborates with crypto in building a future financial system? without killing one system. share your opinion about this.

What you say is true I agree with you. The government is unlikely will leave their money which has been clear and real as the main income for the economy of the country.

When that's true meaning that the government wants to accept cryptocurrency as the second currency after fiat, both can be collaborated and complement each other.  In this way, bitcoin users can take advantage of the advantages of these two currencies, of course based on their individual needs. For example, fiat can be used in real stores, while cryptocurrency can be used in online stores and also transfer money from one country to another.

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[bettercrypto]

Fiat and cryptocurrency will work so well side by side. Though there will be other transactions that are usually run by fiat that can be replaced with cryptocurrency. But, not all transactions. So, fiat will still be significant even there is cryptocurrency already.

[TheUltraElite]

Fiat and cryptocurrency will work so well side by side. Though there will be other transactions that are usually run by fiat that can be replaced with cryptocurrency. But, not all transactions. So, fiat will still be significant even there is cryptocurrency already.

That seems very nice to hear but honestly that does not make sense. A economy based on only crypto does not seems sustainable. People need to get their daily necessities with coins means there must be something to pay for them and bitcoin is not the option for that. Who is going to declare prices for stuff? On what basis are we going to evaluate the things? Its a very complex thing to do and having a fiat backing to them is necessary to fix a price for things.

So in reality it seems fiat and crypto will become symbiotic and live on each other. But honestly I can already hear people saying "Bullshit" to this.

[ngano ba]

The fiat and cryptos maybe have a good chance of harmonic services to the endusers which are the customers and investors , if they will be used ether by the customers without any competition , so there will be big possibility that fiat and cryptos would go together well.

[Theb]

To even think plans in your proposal we should first ask ourselves if what you are asking is necessary. Come to think of it either kind of currency is destroying another kind of currency as both currencies are being used by both people. And to think that cryptocurrency won't have any value without fiat currency I think that destroying fiat currency won't even be a reality. Fiat currency, Credit Cards, Debit Cards, and Cryptocurrencies can co-exist as it won't be a threat to each other. Also most of the governments on each country also has its own plans about how will cryptocurrency coexist in their country so "harmonization" is really not a big problem.

[yulchatar]

It would be great if the cryptocurrency was officially used like a fiat currency. Of course, fiat is unlikely to ever completely disappear. But cryptocurrency may well to be recognize. This can really happen but not in the coming years, I think. But sooner or later this will happen because cryptocurrencies have occupied their niche in the modern world and will not disappear.

[syamster]

I have read several threads that say "fiat will die and will be replaced with crypto" as you agree? I personally do not agree. because when the real system is already established in value and a new system comes with a fluctuating value, the government will not take that risk. But do you agree if Fiat collaborates with crypto in building a future financial system? without killing one system. share your opinion about this.

Lot chance for it to happen and yes this plan would certainly enhance the business of fiats and crypto currencies. But how well the systems are going to be flexible, is the biggest challenge here.

The motivation behind inventing crypto is totally to eradicate the struggles, energies and insecure transactions. The mission do differ and each one is the competitor for each other in the currency market and how well the system is going to be amended.

Replacing fiat will never happen, we use it in everyday life's and we are used on having it already, what we really need now is how to process it for more adaption in crypto. Both will be good together.

Yup now it is getting lower but it is now in some areas replacing fiat, because the benefits of crypto currency is more than fiat, we should try to increase the use of it, some are having better life with it and some are saving future, it helps reduce the poverty from our society, it gives more chances of earning and spending good life though. So better increase the use of crypto in each country.

[squog]

I don't know about that. I mean crypto currency is based on people's demand and supply of that specific crypto currency while Fiat is based on the GNP of a country. When we use Fiat to crypro currency, we don't exactly come up with the same amount of Fiat when we sell crypto currency for Fiat. That is also considering that not all countries have a tax on crypto currency trades.

[nl247]

It would be great if the cryptocurrency was officially used like a fiat currency. Of course, fiat is unlikely to ever completely disappear. But cryptocurrency may well to be recognize. This can really happen but not in the coming years, I think. But sooner or later this will happen because cryptocurrencies have occupied their niche in the modern world and will not disappear.

Increasing the use of cryptocurrency in our daily world and lives is something that I believe will come naturally as this space keeps growing eventually. There are so many developments every single day, which I most definitely believe that in the end, we will get to see merchants, stores, people and every other sphere of life accepting its usage and seeing it as a norm. However, I do not see a way this will be replacing fiat like some people always imagine, I only see it as an alternative in the long run, as we get to see some harmonization between the two.

[Leyss]

I have read several threads that say "fiat will die and will be replaced with crypto" as you agree? I personally do not agree. because when the real system is already established in value and a new system comes with a fluctuating value, the government will not take that risk. But do you agree if Fiat collaborates with crypto in building a future financial system? without killing one system. share your opinion about this.

Fiat can exist without a cryptocurrency, but a cryptocurrency can not exist without fiat and cannot replace the national money of the states. Therefore, if we want a cryptocurrency to exist and develop, it will be forced to walk in our world in parallel with the usual currency. There is no other way of its development.

[wxa7115]

To me this is like harmonizing mail and e-mail. It's not a one-to-one swap or replacement, although that is the overall intention. The technology will be phased in or out respectively based on advances in infrastructure. ie we will likely always require notaries to some degree so that we have witnesses to testify if documents are called into question in a court proceeding. This doesn't have anything to do with mail or our need for a mail system. So contrasting, the day we are past the tipping point on device-based payments, there will no longer be a need for payment cards.

It is not as simple, you could say this happened with fiat and electronic fiat, now most money around the world does not have physical form and instead are just numbers in a computer and there are even some countries that are thinking about disappearing their cash, but this is different, cryptocurrencies are not fiat, there is nothing backing them that is true but there is not government either telling us that it has value, it is entirely a new concept.

And governments understand this very well, they are not going to accept cryptocurrencies that easily because they know that if they do, they put at risk the system they have built and in which they are so comfortable and they are not going to lose everything just because someone created something revolutionary.

[spongegar]

Fiat will die? Highly unlikely. For one thing, Fiat is crazy convinient to use in developing countries simply because you don't need alot of infrastructures to make it happen. Crypto currency needs internet access and not everywhere we can have internet access. I think the transition of Fiat to Crypto currency could be the harmonization you're talking about.

[Agapelove]

Fiat money will not die eventhough cryptocurrency go mainstream. They might have overlapping in functions, but there are processes wherein cryptocurrency won't work such as offlline and some businesses that needs more stable currency. Cryptocurrency will have some distinctive function such as tokenization of several assets and transactions.

[shendy]

Fiat still exists and will live, will not die. This needs to be underlined and will continue to run according to its role. Fiat and crypto will run side by side, for traders and crypto lovers to continue to deal with crypto according to their functions, and fiat lovers still use fiat for their transactions. So no one will die.

[mariah.sadio]

I agree with your idea. In order for fiat and crupto currency to both survive and not win over each other, they should at least be used accordingly. Fiat and crypto should have collaboration. Things will get easier in this way.

[fasdorcas]

We shouldn't by any means make fiat look inferior to crypto. Because is a traditional currency that has stood the test of time, though crypto also experiences a similar setback that was seen in fiats. I will rather prefer the harmonization of both in order to improve and stabilize the value of crypto and build a future financial system that would be accepted  by all.

I think it would be far to its possibility because we cannot have a centralized and decentralized currency in one country.And of course the government officials would not permit it to happen because having cryptos would mean transparency of all transactions.Maybe we can say that crypto can be a reserve currency in the future.

If I may ask, who said that is not possible? We are talking about coexistence here which is the possibility that I see in the long run and for the most part of it, the likelihood of the government of most countries, coming up with regulatory policies and then adopting and allowing the usage of cryptocurrency is something that will become a reality eventually as it is already becoming a reality.

I guess you have not heard about Japan or Malta, or more, you think they do not have their own centralized fiat system even while regulating and allowing cryptocurrency? One way or the other, we will basically have the two existing together.

[mensahkkofie]

The future is crypto but we cannot rule out fiat currency in any way. I believe fiat currency and digital currency such as cryptocurrency can coexist but I think the taking over by crypto would be a gradual process and thus it would take some time before it can materialize.

[Spaffin]

It would be great if the cryptocurrency was officially used like a fiat currency. Of course, fiat is unlikely to ever completely disappear. But cryptocurrency may well to be recognize. This can really happen but not in the coming years, I think. But sooner or later this will happen because cryptocurrencies have occupied their niche in the modern world and will not disappear.

I do not know for whom it would be great if the cryptocurrency would be used as a fiat currency, but then complete economic chaos would begin and it is still difficult to predict what it could outgrow. We'd better not experience it. Therefore, no wise government of any state will allow cryptocurrency to replace existing national money.

[wxa7115]

Why do people want to be one of two death strips while they can exist in parallel and support each other's shortcomings?

People want cryptocurrencies to replace fiat for two reasons, some want it for ideological reasons they do not trust in the government and their ability to keep control of their printing habits and they are right because no government has ever implemented a fiat currency that lasted for a very long time, eventually all of those fiat currencies went to their intrinsic value which is zero.

However there are others that are only interested in the money they can make out of cryptocurrencies and they want crypto to take over fiat because they understand that if that happens then they are going to get incredible profits out of their investments, so they want that to happen for completely selfish reasons.

[Schmidt Abrams]

Fiat has already exists in the first percentage and the main overlay luôn cố gắng tìm mọi cách để củng cố sức mạnh của nó. For bitcoin, the main overlay search all way to block it, apparently to fiat and crypto go on a path will be difficult