harmonization of fiat and crypto

[Irvinn]

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.

Yes, in this forum, great importance is attached to the issue of circulation of cryptocurrency in society and the possibility of replacing it with a regular currency. Cryptocurrency does not have the slightest opportunity to replace the national money of states. The national money of each state is directly connected with the economy of this state. The meaning of money is that they are issued for the volume of the gross product of the country, that is, for the sum of its national wealth. Cryptocurrency in general can not have any binding to the economy of a particular state and therefore in this regard it cannot perform the function of money. Although as a means of payment, a cryptocurrency can be used if it runs in parallel with the national money of the states.

[1714298258]

1714298258

[1714298258]

1714298258

[1714298258]

1714298258

[1714298258]

1714298258

[hildacitra]

I think that will never happen. Money will always exist even though crypto currency and bitcoin is rapidly growing. Both crypto currency and money should work together to reach good economic stability in the world. Bitcoin brings huge impact for the economic situation in several countries because the money movement is also growing up.

[prtty2gal2]

I think that will never happen. Money will always exist even though crypto currency and bitcoin is rapidly growing. Both crypto currency and money should work together to reach good economic stability in the world. Bitcoin brings huge impact for the economic situation in several countries because the money movement is also growing up.

It won't happen at all! We are talking about fiat being replaced by crypto here and in such case we are talking about centralization being replaced by decentralization. Sure, there is no doubt that cryptocurrency has been able to give us the chance for freedom when it comes to spending, but at the same time, a time will come when cryptocurrency will just be an alternative to fiat for some people who will like to make international transactions even most of the time.

There would be coexistence as someone rightly said, in which the crypto space will be regulated. Moreover, I do not expect that fiat will not one way or the other, try to integrate blockchain, so in most cases, it will all be a harmonization like the OP called it.

[pumbum]

a person gradually gets used to paying by non-cash means, therefore, in the case of cryptocurrency, the understanding of convenience will gradually come

[wxa7115]

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.

It is clear that cryptocurrencies are not going to kill the fiat system, there are too many people invested in that system, however it is entirely possible that the current system will collapse and that will open a huge space for cryptocurrencies, this is going to give us the adoption we need and want but still it is not going to be enough for fiat to die, but that is OK because we do not really need that, we only need cryptocurrencies to be adopted through the world so we can use them and avoid fiat if we like.

However I do not see too many governments interested in collaborating with cryptocurrencies, governments will want to take over for sure and they may try to disguise their intentions but at the end that is what all the governments of the world will try to do with this market.

[cizatext]

The society is design in such away that the system can not function on a single form our financial life can never be great with just a single means of carrying out financial transactions due to the fact that we can not depends only on cryptocurrency for all our transactions there is always a point when we will need the use of fait money in the society too despite the fact that cryptocurrency offers total freedom of our financial life we still new the fait money to carry out most of the cryptocurrency transactions such as buying of cryptocurrency we still need to use the master card which is attached to fait.

[CryptoCanuck]

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.

[Biscutard]

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.

Exactly that's what i was thinking lately but i do believe that banks and crypto would collaborate together in the future because if we choose who's the one we will be using it might take a lot of debate and regulations. I agree with you that we shouldn't change the already established system rather combine them in order for them to be useful in the future.

[Yamifoud]

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.

Exactly that's what i was thinking lately but i do believe that banks and crypto would collaborate together in the future because if we choose who's the one we will be using it might take a lot of debate and regulations. I agree with you that we shouldn't change the already established system rather combine them in order for them to be useful in the future.

Cryptocurrency is just an another option conventional to what we are preferred for.  But it somehow other people  never seen or appreciate it at this time.
The combination of fiat and crypto will provide us comfortable life and more productive in the future. May take these chances and have enjoyed having both currency in our life.

[Quidat]

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.

Exactly that's what i was thinking lately but i do believe that banks and crypto would collaborate together in the future because if we choose who's the one we will be using it might take a lot of debate and regulations. I agree with you that we shouldn't change the already established system rather combine them in order for them to be useful in the future.

Cryptocurrency is just an another option conventional to what we are preferred for.  But it somehow other people  never seen or appreciate it at this time.
The combination of fiat and crypto will provide us comfortable life and more productive in the future. May take these chances and have enjoyed having both currency in our life.

That's why satoshi made bitcoin for a conventional use of the people who hates to use the bank which slowing down the process of payment where people need to write it down each name and ask them to sign for a signature which cost too much time if you come to think about it whereas bitcoin and blockchain made it easier for us because it does what the banks been doing and its a less hassle.

But then again crypto currency are meant for trading purposes only and not as payment in real life, then someone applied it an exchanges to trade bitcoin to fiat currency. These two are collaborating already we don't need to separate them because we can't get the greater benefit from it.

[HarmonyA]

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.

[Finestream]

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.

[walemil]

Digital currency may not completely eradicate fiat currencies but I am certain that it will stop the people's over dependence on fiat currencies to do anything. This will be achieved by the time more users have the experience with cryptocurrency in terms of speed, convenience etc.

[trecore4]

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.

Off course that is most dangerous decision if taken by government and also I think that it is impossible to accept the crypto anyways. People are not looking at the crypto currencies as mode of payment but more or less they are looking at it as mode of investment. They want to grow their wealth through it, they are happy with the results and dont want it to be altered. If you pick any project which offers crypto debit or credit cards then you will see that they are failing mostly and thats all because people are not interested in such cards as they already have one with at most trust.

[breathlessz]

Digital currency may not completely eradicate fiat currencies but I am certain that it will stop the people's over dependence on fiat currencies to do anything. This will be achieved by the time more users have the experience with cryptocurrency in terms of speed, convenience etc.

with a decentralized system, of course, makes transaction speeds higher. this is an alternative if it takes immediate money to be sent to the opponent's transaction and in large amounts

[FunGate]

I think countries will be launching their own cryptocurrency, Sweden being the first:

https://www.thelocal.se/20180115/sweden-predicted-to-become-first-country-with-own-cryptocurrency

Once the use of non-cash transactions and technical competence is widespread, I'd imagine other countries to do the same.

In Sweden's case, It would prevent a potential crisis situation where cash is no longer an accepted means of payment. (Sweden has cash-free cafes and shops). Therefore, the central bank is obliged to provide alternatives. 

[d1ceplayer]

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.

Yes, in this forum, great importance is attached to the issue of circulation of cryptocurrency in society and the possibility of replacing it with a regular currency. Cryptocurrency does not have the slightest opportunity to replace the national money of states. The national money of each state is directly connected with the economy of this state. The meaning of money is that they are issued for the volume of the gross product of the country, that is, for the sum of its national wealth. Cryptocurrency in general can not have any binding to the economy of a particular state and therefore in this regard it cannot perform the function of money. Although as a means of payment, a cryptocurrency can be used if it runs in parallel with the national money of the states.

Even if it has the slightest opportunity in terms of adoption, there is no way government will just allow it to take over the fiat system and they will do everything to at least put some limitations when it comes to utilizing it.

However, that won't even be necessary as all I see happening anyway is that there would just end up being some coexistence in the long run. There would be some group who are into the usage of cryptocurrency and some who based on some reasons will still be stuck in fiat. One thing I see mostly happening is just having another alternative to spending as a currency.

[Hui8]

Harmonisation of fiat and crypto will never happen. Also it is wrong to state that fiat will die anytime. Thats wrong terminology. Money or fiat money precisely will never die, it will just get valued more or may be it will get devalued with the time. Only these two things can happen with it and this is the right way to put it up. Cyrpto currencies are created under certain limitations and they will never ever replace the fiat in anytime soon. At least not for the next decade for sure because they are incapable of doing so. With the crypto being so tiny it can not fulfil the needs of real world.

[maarx]

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.

[Bitcotalk]

Digital currency may not completely eradicate fiat currencies but I am certain that it will stop the people's over dependence on fiat currencies to do anything. This will be achieved by the time more users have the experience with cryptocurrency in terms of speed, convenience etc.

Of course, there is no way any government will allow cryptocurrency to just take the lead in the country while eliminating fiat, and in a way also, it will be hard for them to want to eliminate something that has grown hugely worldwide and trying to go against it will just be like fighting something they cannot win.

The way everyone will be happy is when countries start regulating cryptocurrency, there will always be some factions that will use it as well as some factions using fiat. Also, there is no way fiat will completely end up useless, as this is an official thing most people have been used to over the years.