harmonization of fiat and crypto

[yansen]

Crypto and fiat cannot symbiotically exist, especially in running a country's finances. Perhaps bitcoin can be used as a reserve currency, but that's it and nothing more. There's just too many risks involved in incorporating crypto into an economically stable country. In countries like Venezuela though, we see how bitcoin helps them in a way for their needs and for spending. Maybe in countries that are struck but hyperinflation this idea might work, but for the rest of the world, it wouldn't.

like Venezuela that many people have turned to Bitcoin to save their assets, because their currencies have collapsed, the economy is damaged. is Venezuela's currency not already used in that country? if it's still valid, maybe that's what I call for balance or harmonization of fiat and crypto. when the economy is shaken by the fall of fiat, crypto helps balance the economy and re-runs fiat in the country.

[yansen]

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.

I think cryptocurrency collaboration with fiat money has already been happening in some countries like Japan as people can now use Bitcoin to pay for something in that specific country. Here in my country we can use Bitcoin to pay bills and buy prepaid loads instead of using fiat money. Though governments take part on this issue by implementation of such regulations to some local wallets or exchanges in fact we can use Bitcoin, Ethereum, BitcoinCash and Ripple in any online transactions to pay for either goods or services.

yes, i understand that. actually crypto and fiat are currently collaborating. but with a conflict that is still large in some countries, I mean crypto users cannot use it fully like fiat. because it is indeed a significant difference from these two currencies. I hope that in the future crypto and fiat can be aligned to help the country's economy get better without killing one.

[yansen]

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 will not die and will be not replace by crypto until govs will not develop his own crypto
Cash will not die also
Take a look.What we can buy with crypto not so much and only in some places of the world
I live in Europe and i can buy nothing with crypto
There is many places where i can buy only with cash for example healthy food at low prices
cryptocurrencies integration with fiat money system is going very slow
We don't have cards services
You can find some ico telling we want to create bridge between crypto and fiat but it is not so easy

Indeed, it takes a very large study to be legalized by the state. In addition to the country's established economy with fiat, the value of crypto fluctuations is a major threat to established countries. like your country that hasn't legalized crypto for transactions. because it takes a lot of research, until crypto is really useful for your country. So collaboration cannot do like Japan. Where crypto and fiat still work together have systems and rules.

[buharikx31]

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.

I think it can be combined together if goverment would agree to work with it as additional payment system, but there is different factors that goverments should agree with when they are accepting cryptocurrencies also explain to everyone that prices can go down and up every minute and it's not as stable as local currencies and confirmations could take hour

[yusupjatigumilar]

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.

I agree with your opinion, that crypto and fiat currencies have their respective roles and do not kill each other, they are not even separated because for conventional spending, fiat currencies are still needed to make transactions

[Emily_Davis]

When you say collaborate you mean that cryptocurrency and fiat will become as one? I don't think this is possible. Mass adoption of bitcoin alone will be confusing enough for the public, how much more if they collaborate? I don't think people will be that accepting. That said, I could see both being used, like an option to use one or the other.

[efxtrader]

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.

I am believe fiat money still exist and crypto can be used for payment in merchant. Collaboration between crypto and fiat can create new economic system and i am believe fiat and crypto can run side by side

[ajaymukund]

That is right now. We are using fiat money to switch to electronic money and vice versa. This is the most harmonious combination because fiat money is of its own value and it is operating in a foreign exchange market, much larger than the Crypto market. I do not expect change, I just want it to remain so and grow stronger on the blockchain technology.

[Fuhre]

A very deep calculation is needed if you want fiat to be replaced by crypto, because if you see that fiat is very strong very large in the development of a universal economy in the outline, of course it can withstand economic stability in the world, with strong values it is an advantage to always survive in its position, don't be easy in every aspect of the world economy, if there are defects that will affect all countries, and I don't think that crypto is the main solution in handling in the future, fiat is still the heart of the economic power of every country.

[wuvdoll]

if it is made to collaborate both fiat and crypto for the future it is very good because later many countries that do not accept crypto will accept crypto for the collaboration thus this system will be more secure and all people will want it to join the cryptocurrency world.

As far as I am concerned USDT is fiat even though it is on the blockchain and so is any other stable coin. According to the dictionary, fiat is a formal authorization or proposition; a decree. It is more or less not the cash itself and as long as that decree can be placed on the blockchain, where we get to have centralized digital currencies, then, we know fiat will still be in play. What I see in the long run is centralization and decentralization going hand in hand within the crypto sphere but there is no way on earth that government will integrate decentralization protocol into the system.

Fiat obviously will not die. We are talking about evolution of money here and fiat is just a system which is centralized, and the fact that government in the long run will definitely come up with their own ways of getting to build their currencies on the blockchain does not mean they will come up with a decentralized entity as we all know they will always want to be in control.

In the long run, physical cash would probably get eliminated, but one thing with fiat, is that it would still be around, but sure, there will always be an alternative of some sort which is where decentralized cryptos will come in.

[Ains_sama]

I agree if crypto and fiat collaborate, because it will be mutually beneficial, but if crypto can be received in the government, I think there must be control rules. so crypto usage is really on a good track. during crypto is still running on the system that is decentralization. I think the government will not add crypto.

[senin]

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.

Cryptocurrency is generally not able to replace the national money of states. Therefore, fiat will not disappear, at least in the near future. Cryptocurrency can only go in parallel with the national money of other states, that is, in the future it will have to coexist with national currencies. Only in this way can it benefit the state. This is evidenced, for example, by the positive practice of using cryptocurrencies in Japan.

[entar pasar]

i think that is a good idea, fiat can be used on local transaction, but for global transaction, it can use bitcoin. so the transaction among countries can be more efficient

[pavka]

The thought does not leave me that a cryptocurrency is a new stage in the development of traditional money. It is quite possible that in time the electronic currency will completely replace Fiat, but this will certainly not happen in the next couple of years.

[Cryptomilz]

Harmonization of fiat and crypto where both currencies are existing side by side is what I feel can happen. Cryptos will hardly replace fiats, certainly not this world we live in. Fiats are symbolic of different countries they emanate from. It's their identity and what makes different governments powerful as they have absolute control over it. Central governments of countries will not be to have control crypto as a currency, this poses a big problem.

[raven.tiu17]

I guess Cryptos will here to stay as fiat is more useable nowadays. Government will control every entity in the planet, but peoople will study what's the benefit of using cryptos and how it will change the entir monetary system.

[BitHodler]

Fiat obviously will not die. We are talking about evolution of money here and fiat is just a system which is centralized, and the fact that government in the long run will definitely come up with their own ways of getting to build their currencies on the blockchain does not mean they will come up with a decentralized entity as we all know they will always want to be in control.

The mass needs centralized money because they have no clue about how to take care of their finances in a responsible manner. Them using decentralized crypto currencies is a guaranteed way to lose money.

Every day people get their bank accounts emptied, send money to the wrong recipient, get scammed on internet, and so forth. All these average joe mistakes can't be corrected if there wasn't centralized money helping them recover it.

I will always keep using fiat even if crypto becomes globally accepted as medium of exchange. Locally it's definitely fiat that will maintain its lead, where online and cross border transactions is where crypto shines.

Why choose one option when you can have both working in your advantage without any problems?

[andika2018]

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.

I am always believe that fiat will side by side with cryptocurrency. I am agree that fiat will collaborates with cryptocurrency because crypto have advantages than fiat and can use anywhere as long there is internet connection

[erominer]

in my opinion fiat will never be replaced by crypto, maybe just maybe crypto will dominate in the future, we just do not know yet but it will never replace i mean fiat will still exist just like gold and silver nowadays.

[wahyu wida]

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.

I am always believe that fiat will side by side with cryptocurrency. I am agree that fiat will collaborates with cryptocurrency because crypto have advantages than fiat and can use anywhere as long there is internet connection

i think in terms of government, it will certainly look for policies where fiat is not completely displaced. besides, of course government does not want economic situation to deteriorate, we know for management of fiat many employees in it