harmonization of fiat and crypto

[SvonioneFromMangoCoinz]

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.

This is quite reasonable. Because we should not rely too much on crypto, it is always volatile and institutions are unreliable. If it is possible to combine both to make the payment system better and more diverse, then I think the service industry will be much more developed. because I've had a lot of problems exchanging money when traveling in other countries. I don't want to waste time on these things so I hope countries will adopt a common currency to make it easier for people to travel.

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[LUCKMCFLY]

By 2020 there will be a series of launches by some countries in stablecoins, and China has it ready, France is looking forward to doing a project, the ECB (European Central Bank) has great interest in launching its stablecoin, Libra which is the largest competition of these, I think this could give some liquidity for FIAT money, it is known that with cryptocurrencies it is another type of liquidity that is acquired through blockchain, it is not about facing fiat vs crypto, both can coexist, now what Interested in all this is that it will bring greater adoption to Bitcoin, and if this happens all altcoins grab more life, everyone wins.

[Naida_BR]

Fiat and crypto have harmonization each other and we can't make one of them could stand by self with have each of fiat of crypto, with fiat crypto could be most profitable because many people still use money for many transaction kinds in their country, without crypto fiat look lke not completed with many transaction for other country faster by crypto.

We still can't say that fiat and cryptocurrencies are in harmony but sooner or later they will have to be.
Cryptocurrencies have become part of many societies and governments and central banks need to find the way how to regulate it the best way because with time cryptocurrencies will only grow.
That doesn't mean that people will stop to use fiat currencies, that will not happen but probably will combine the best of both. Therefore the best option for harmony of fiat and cryptocurrencies should be found as soon as possible.

Both Ecosystems are going to exist in the future.
The same way as Gold exists with fiat money. People cannot stop using the one currency and only use the other. The co-existance of them and the harmonization of the economic system needs to be achieved by governments.

[Ozero]

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.

Of course, cryptocurrency can never replace the traditional national money of states. State governments will not allow this. And cryptocurrency by its nature is not capable of this. Stable coins can partially displace fiat, but state cash should remain. Even highly developed states with a high level of income of citizens who want to get rid of paper money will still use their non-cash money.

[wack slacker]

I think that FIAT and cryptocurrencies will coexist in the future. Cryptocurrencies will be used by countries to use online transactions and cash will be used by people to exchange daily.
Using cryptocurrencies for online payment will ensure better security because Blockchain's security technology is better.

[JeffBrad12]

\\Of course, cryptocurrency can never replace the traditional national money of states. State governments will not allow this. And cryptocurrency by its nature is not capable of this. Stable coins can partially displace fiat, but state cash should remain. Even highly developed states with a high level of income of citizens who want to get rid of paper money will still use their non-cash money.

Stablecoin is owned by a private company and that's just really bad if it happen to replace cash. Imagine giving too much power to a company and decentralized cryptocurrency is more preferable if that's to happen.
the problem about stablecoin is also how it's not as transparent as decentralized coin and the company that issued the stablecoin could just print their money even though there are reserved fund audit there's always a hole that can be taken advantage of because it's company owned by someone after all.

[onyek16M]

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.

no , i dont think so. Crypto should not be in any country's payment system. why i think so? because this is a risky market and adept speculators call it game of money. This is not a normal financial market, this is a market of price manipulation. Therefore, businesses holding lots of coins only increase their risk. I think our society should only have fiat money and some fast payment wallet systems, that's more than enough.

I don't think so because I think we can use crypto as payment and we can buy all those things with crypto which we have dreamed of. Crypto is gradually getting so much value as a source of payments. Even in some countries, bitcoin is being used as money and as it’s getting the digital system so we must have some bitcoins in our digital wallet to use as  Time of need as crypto has a bright future.

where do you find crypto used as payment? in reality, crypto still difficult to accepted by part people in the world. people tend to reject crypto because they assumes crypto is complicated and very simple use fiat money as a payment. it happen in few country

but maybe in the future crypto and fiat money can collaborates together, while internet kids growing up

Crypto has been used as payment, we can see some digital product like steam wallet top up, and any VPN maybe accept BTC as payment. But maybe to be accepted by a lot of people, really need from government so the company not afraid anymore if want to use BTC as payment. In other side, about fees and transaction time need to be solved first.

I mean is payment for real transactions like buy coffee with bitcoin or buy bread with bitcoin etc not online payment for digital product, people prefer to pay with fiat money in real life. need more time to crypto kill fiat money moreover like you said about fees and transaction time to be solved, its difficult to remove fiat money and move to crypto

Each of us want an easy way of transaction and by using fiat is still the best way to pay since not all stores accept crypto currency. Likewise, there are some stores adopt the crypto currency mode of payments but since then it needs an internet connection to access your transaction. Also, I don't think it needs to kill the fiat because some small establishment needed it unlike crypto currency.

difficult does not mean it can not kill fiat money, now indeed crypto difficult to accepted by part people and best payment still using fiat money
but im thinking in the future while z generation grow up and all everything use internet and by online maybe crypto will used by payment then kill fiat money slowly .... its such a people's thinking about internet 10 years ago

[kotik085]

I completely agree with this and support 100% that when a fiat dies, then Bitcoin will take its place. Depends on how much the capitalization of Bitcoin will bring to the masses.

[HarmonyA]

Both fiat and cryp8can be utilized for installments and as a store of significant worth.
Both depend on across the board customer trust so as to work as a methods for trade.
Fiat cash is given and constrained by (national) banks and governments. Therefore,  fiat and crypto can be harmonised because they have disparity.

[FlightyPouch]

I think that FIAT and cryptocurrencies will coexist in the future. Cryptocurrencies will be used by countries to use online transactions and cash will be used by people to exchange daily.
Using cryptocurrencies for online payment will ensure better security because Blockchain's security technology is better.

Well, it is the only way that bitcoin could survive since bitcoin might never be accepted by the government as a payment method. They wanted to control everything that is circulating in their country, and with bitcoin and other crypto currencies that will not happen. So I think they would create a digital currency of their fiats nad either they will accept bitcoin and other crypto currencies with it or not.

[princesspoppy]

Fiat and cryptos can both work together without killing one system. Cryptos are made as an alternative for a fiat currency, it does not necessarily mean that it have to replace fiat. Also having many options/tools for transaction is better, that's why we don't really have to make competitions about these two for who will stand strong in the future.

As for cryptos to be used for a countries economy, I don't think the government will agree on that especially if it is bitcoin that will be used. Bitcoin is decentralized, government won't be able to know who make transactions from it and most importantly, they cannot control it. Cryptos are also volatile which may lead to economic recession if it will be used as a store of value then a sudden drop comes to the market.

[CarnagexD]

Fiat and cryptos can both work together without killing one system. Cryptos are made as an alternative for a fiat currency, it does not necessarily mean that it have to replace fiat. Also having many options/tools for transaction is better, that's why we don't really have to make competitions about these two for who will stand strong in the future.

As for cryptos to be used for a countries economy, I don't think the government will agree on that especially if it is bitcoin that will be used. Bitcoin is decentralized, government won't be able to know who make transactions from it and most importantly, they cannot control it. Cryptos are also volatile which may lead to economic recession if it will be used as a store of value then a sudden drop comes to the market.

Another thing is that, crypto and fiat are from different generations. One generation grew up from using and investing on fiat while the other is patronizing crypto which goes with the innovation of technology as time passes by. Instead of wishing that crypto would one day replace fiat, we should instead hope for a better harmony of the two so that everyone could have their freedom on what they think works best for their daily lives.

Fiat is indespensible , it cannot be ever killed even if people are using cryptocurrencies , one should understand that not everyone in this society does have access to Internet , cryptocurrencies , knowledge about cryptocurrencies and owns some cryptocurrencies.
The poor farmers and their families , how do you think you can actually ask them to accept payment in cryptocurrencies? How do you think you will ask a person to connect with internet open a wallet and you will send them money when they don't own any mobile.
The world is driven in poverty and people are dying of hunger everyday and not everyone is fortunate enough to own all these things that would make it possible and the government is too corrupt to do anything about it and people are too selfish to help.

We cannot really expect everyone to have an access to use crypto that's why fiat is still necessary cause older people and those in the poverty are more used to it than with crypto. If only the government would start being considerate with them, then crypto should dominate fiat in the future.

[Sanugarid]

By 2020 there will be a series of launches by some countries in stablecoins, and China has it ready, France is looking forward to doing a project, the ECB (European Central Bank) has great interest in launching its stablecoin, Libra which is the largest competition of these, I think this could give some liquidity for FIAT money, it is known that with cryptocurrencies it is another type of liquidity that is acquired through blockchain, it is not about facing fiat vs crypto, both can coexist, now what Interested in all this is that it will bring greater adoption to Bitcoin, and if this happens all altcoins grab more life, everyone wins.

That is really good news, I can confidently say that there is harmonization happening between fiat and crypto because how are you gonna use your money if you withdraw or deposit it. In some terms, they are really working with each other. Every county is now adopting the cryptocurrency but not as their primary currency because it is hard to fully use it because of the local transactions. I can say that maybe in the future that can happen since there are technologies that are being developed to make that happen but not yet implemented. There are still countries that are banning crypto in their vicinity, they are regulating it on their own purposes. Some are thinking that crypto is really a scam without knowing the use and purpose of it, which is we can do fastest and secure transaction using it, it is also space-saving because you only need your device to make transaction and without any lawyer, you can send a big amount of money because of the smart contract. If we look on the bright side, the innovation of technology with the use of cryptocurrency is happening so fast.

[camito]

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.

When we say collaborate, each party hold the same share. However, this collaboration cannot be possible. Rather, a working system between the two must exist. For an economically-stable country, which has a government different from others, and those which undergone a drastic history and rich culture, fiat as legal tender is the main and only form of currency. If they/we are to employ crypto, it could be a second, third or even fourth form of currency. Besides, crypto and its branch underwing functions differently. So I think the way to be able to legally use crypto for international relation transaction is only when trading but on a separate field - very far from fiat. But I won't think that crypto can never ever function with fiat. This just actually needs trial and study.

[shoreno]

but the question is if government do wants to collab with crypto  ? we know governments are being salty or sour with crypto in terms of benfits matters   . but let say if governments will changed thier minds and start collaborating with crypto , crypto will become more healthy and as well as its community because more money wil flow on it and more people will enter on it  . fiats will also be beneficial because there are people that will convert thier cryptos to fiats from time to time and as well as people we earn more fiat to buy cryptos  

[FanatMonet]

Cash will never die, at least during our lifetime in the foreseeable future, cryptocurrencies can occupy some part of the market, in theory, but to say that they completely replace cash is very, very bold. Personally, I don’t believe in it, cash is always needed.

[Meowth05]

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.

This is the that we should be aiming at the first place. A coexistence with the status quo will make sure that cryptocurrency will never fade away like a forgotten dream. Physical currency and cryptocurrency should coexist until there is a need for someone superior to take over and become the status quo. The reason that it cannot be replaced is because cryptocurrency is relatively new to our modern world so that explains a lot why it can't still become a replacement for physical currency.

[thesmallgod]

I could fiat die when each country have their fiat currencies and there are rules and regulation on the trading of individual country currencies. No matter how things get bad, I do not think crypto will ever replace fiat but rather serve as a rival if the rate of usage of crypto increases exponentially.

[wxxyrqa]

Of course, cryptocurrency can never replace the traditional national money of states. State governments will not allow this. And cryptocurrency by its nature is not capable of this. Stable coins can partially displace fiat, but state cash should remain. Even highly developed states with a high level of income of citizens who want to get rid of paper money will still use their non-cash money.

Never say never. Let's not forget one thing - there is nothing infinite in the world. The state and social foundations that exist now can be completely reformatted and changed within one decade.

We do not know what the world will be like in 10 years, everything will depend on technology. If we move into a fully digital era, then there will be no point in fiat means, they will also try to go into a fully digital environment, but during this transition there may be problems that simply destroy the fiat in the form in which we know it.

If one really looks too far into the future, then perhaps nothing is impossible.  To date, such a situation has developed that most people are not ready to accept cryptocurrency for everyday use as a means of payment.  In addition, it is necessary to take into account a significant part of elderly people who do not understand and do not understand the very essence of cryptocurrency and its capabilities, while no one will learn how to use it as a payment.  therefore, in any case, for the full implementation of cryptocurrency to be used as a means of payment in order to replace fiat funds, at least two generations should change.

[Naida_BR]

I wonder why people hasn't started to think of acquiring more cryptocurrency now with the Coronavirus outbreak.
The global economy is in high recession and Fiat money is going to lose value.