harmonization of fiat and crypto

[Suslura]

In any case, Fiat and a cryptocurrency can exist simultaneously and at the same time have quite a lot of contact.  And all the talk about replacing the cryptocurrency of all fiat currencies is nothing more than populism.  in any case, until at least 2 generations change, the cryptocurrency will not have a leading position in the economic and financial sphere of the world.

[jonaire99]

I don't see virtual coins replacing fiats someday and a future with only cryptocurrency as a national currebcy is very remote. But I believe that fiat and cryptocurrency can coexist and become partners instead of competitors. Banks and governments can also use blockchain technology to improve their various services to their clients and people respectively.

[leea-1334]

and that is all I think can be done by the government that plays a role. I think with the policy the government can regulate both so that it can run in harmony. and that is what we hope for so far, so that crypto can develop well

Government does play a role,,, but to me only in adoption. If you allow self regulation between crypto, and let businesses grow without restriction, then yes adoption can happen quicker and people can pay taxes and economies grow. It is win win for everyone. But restrict or ban, and people use them anyway but adoption is slower and government gets no taxes. Lose lose;)

[Betwrong]

I doubt that crypto can replace fiat completely during our lifetime. However, I think that replacement of 10% of the market is perfectly possible. That would mean 8 trillion USD market capitalization for crypto. Notice, not $257 billion, as it is today, but $8 trillion. In that case Bitcoin can cost roughly 30 times more than it costs currently, or $240,000 for 1 BTC. I've seen similar price predictions based on another logic, and I think they are not that unrealistic regarding the possible Bitcoin price.

[Best Dreams]

It can be harmonize as long as the both sides are stabilise in terms of value. In my opinion crypto and fiat system should help one another to evolve our current monetary system, I don’t think killing the banks is right but to improve banks transparency might be the right words.

and that is all I think can be done by the government that plays a role. I think with the policy the government can regulate both so that it can run in harmony. and that is what we hope for so far, so that crypto can develop well

When government supports something it gets popular by itself, so I think it will be regulated will be good, government can see there is good benefit of crypto currency in our life so they should have support it, for me there is no harm for human life infect it is totally beneficial, I am sure later in future it will become well developed.

[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.

As long as states exist, their national money will exist. They cannot be replaced either by cryptocurrency or by any other currencies foreign to the state. Those who write that fiat will be replaced by cryptocurrency do not understand the simplest economic laws. Cryptocurrency can only go along with the national money of states.

[Naida_BR]

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.

Nothing of the two types of currencies are going to die.
Each one of them has its own user cases and serves the needs of different niche markets.
They will both exist with different people using them for different reasons. Having said that, both ecosystems are going to exist.

[reality18]

The harmony has already began with lots of cryptocurrency projects like HubrisOne working tirelessly to provide a banking service which integrate both crypto and fiat. Stock exchange also allow the trading of crypto. With the implementation of KYC and the emergence of trust, hopefully the governments will legalize crypto one day which will boost the harmonization of cryptocurrency and fiat.

[samputin]

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.

With the situation of every nation at this moment, not all country are pro-crypto. But there are already many nations who are allowing the use of digital currency in their country. But just because they are pro or against such doesn't mean that one will die or not be used at all. I think, with 'harmonization', it could mean the existence of both currencies and being able to use both of them as a mode of payment. I mean, like an option. It can be up to the people which one they will use; either fiat or crypto.

[binhvo1505]

The combination will create a great market and is much more convenient than replacing fiat money.
Fiat money has been used for thousands of years and it is a human habit that we cannot change that habit in a short time.
Therefore, in order for blockchain technology to reach its full potential, people and governments need to collaborate with technology and create a habit of using cryptocurrencies and fiat money.
That will create a better society, richer in terms of money and payment methods.

[hahay]

When talking about systems, the new system will be better and so far the blockchain and digital money systems have become more popular in terms of transactions. So, there is nothing to shut down the system between them because everything is still going well and about harmony, I think fiat and cryptocurrency will remain for a long time and the future will definitely be better.

[Klausi]

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 do not believe that fiat money can be replaced by electronic money. Because there are so many people who can't understand technology and that's the majority. People in the mountains and remote areas, they will not be able to get the network to pay for a certain amount.
I think that both should be integrated and it will help society move faster.

I disagree with you on this, the reason behind why people don't understand technology is because of our lack in financial support, the government is not even taking the rightful action on this, they are just letting people starve to death, not all of us do have money to have a degree, house, laptop, internet at home to learn about this technology that is rapidly evolving every year, one of greatest invention is cryptocurrency, Bitcoin as the first of them all.

once the government decided to make cryptocurrency as the fiat for future, people will don't have any choice but to adopt it and study it, problem solved.

[Arsenyo]

I don't think that fiat will be replaced by crypto. Not in near future. Bitcoin still holds a some kind of mystique that is difficult for both merchants and consumers. Until that time comes, crypto payment methods might as well serve as an excellent addition to current payment options.

[agentx44]

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 that would make a better future for both. Having crypto and fiat in harmony together with the legalization of crypto all over the world would promote great convenience and hope for all the people in the world. We all want to have crypto up until the future so let us not be too demanding on how it should go someday or else we'll end up getting what we don't want.

[ivakar]

The fighting between fiat/crypto fans begin with the born of crypto, sometimes it was silent, sometimes it rages again.. the question was simple whether crypto and fiat can coexist or not, or there should be only one.
Both worlds have their advantages and cons.. Some think that using fiat money will lead to total control, while using crypto will allow to stay anonymous. But I think there would be some kind of symbiosis..  both will coexist in the future and can be used in a balanced manner.  I guess it will split in some fields which will highlight pros from fiat or crypto has.

[iv4n]

The fighting between fiat/crypto fans begin with the born of crypto, sometimes it was silent, sometimes it rages again.. the question was simple whether crypto and fiat can coexist or not, or there should be only one.
Both worlds have their advantages and cons.. Some think that using fiat money will lead to total control, while using crypto will allow to stay anonymous. But I think there would be some kind of symbiosis..  both will coexist in the future and can be used in a balanced manner.  I guess it will split in some fields which will highlight pros from fiat or crypto has.

To answer your question, fiat and crypto coexist now, you can use fiat to buy crypto, and vice versa. You can do it in more then one way, wireless or with cash. The question that arises is what FIAT stand for, and what CRYPTO stand for?

"A monetary system is the set of institutions by which a government provides money in a country's economy. Modern monetary systems usually consist of the national treasury, the mint, the central banks and commercial banks."

"Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database."

This two definitions can be found on many places, simple google search will show them. Basics!
Now what we know about governments across the world? Banks, central banks, national treasuries? Most of them are corrupted? Most of them works for big corporations? Both of them keep the people in the dark? Rich people are getting richer? Who start wars and who make profit on wars?
What we know about crypto? It`s an internet based medium, it`s leverage blockchain tech to gain decentralization and transparency.

We choose what we are going to support. It`s not the question what will happen with fiat, it`s question for how long it`s going to last, next 5 or 10 years if we are lucky, more then that if we don`t have luck. Cause we need to have better global economy, we need more trust between people of the world, that can only be done with the help of blockchain.

[boltz]

Actually both fiat and crypto prosper with abundance so I would except great times head for both of the currencies. Cryptocurrencies are not here to replace fiat or at least not for now or any time soon but instead cryptos volume and capital is based on fiat and we must admit it.

Harmony between this 2 is already happening as we see banks implement blockchain technology, getting involved into coins, making big investments for development and all of this feature leads to a relationship between them who is ain't gonna break any time soon. ( ofc there is always the 2nd scenario when the amount of money getting into crypto will surpass the amount if money withdraw from crypto because that would be first sign that people are not selling anymore ). You can't buy cryptos without fiat, even if you say but I sold my TV and bought bitcoin, you're right but that TV was bought with fiat and even if was not bought with fiat the original investment that lead to you owning that TV was bought with fiat at some point.

[Ozero]

Cryptocurrency will be forced to coexist with regular currency, since it is not able to replace it. For ordinary users, this will also be convenient, since bank payment cards will have regular currency and cryptocurrency immediately. These currencies will complement each other's capabilities. The harmonization process is almost already underway and states will be forced to support it.

[imstillthebest]

Cryptocurrency will be forced to coexist with regular currency, since it is not able to replace it.

forced ? hmm no i dont think so.  crypto are not having an ambition to replace fiats but people are the ones that will make a decision if what currency will they be using.

The harmonization process is almost already underway and states will be forced to support it.

states or u.s ?  i thought their president are creating a rule about restricting cryptos.  not just that but i also hear that some exchange are also restricted to u.s  .  even if states arent included on this process , there are still other open countries that are willing to harmonize cryptos with fiats

[asus09]

If cryptocurrency have many positive respond not only from investor but also from company I think fiat just waiting time when they will be die, Fiat only give us soft service for transaction but could't not give how to increase money using Fiat and bitcoin can give us both of faster transaction and by using bitcoin could increase our money.