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Author Topic: Can Bitcoin and FIAT co-exist? What will be the advantages then?  (Read 545 times)
pat4cryptoreal
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October 18, 2018, 05:33:24 AM
 #21

Already bitcoin and fiat currency are co-existing, they are not operating in isolation. We cash out most of our bitcoin as fiat through our fiat bank account. Any country that the fiat and bitcoin are not co-existing are in big problem. Though later when bitcoin is widely used and accepted we can exist without fiat.

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October 18, 2018, 05:42:25 AM
 #22

FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.

Well as of this moment they are both existing. Fiat as a tool that measures the bitcoin and bitcoin being a coin for exchanging or having fiat. They are both benificial in a way that those two helps everyone in doing transactions. But then with bitcoin transactions made easy.

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October 18, 2018, 05:44:53 AM
 #23

FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Bitcoin can only exist in conjunction with fiat. In another way, he will not walk in the world. These currencies also cannot replace each other. If they walk at the same time, they will complement each other and everyone will benefit from it: people and states.

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October 19, 2018, 03:37:07 AM
 #24

The price of Bitcoin is highly volatile and that is why it is difficult to use it in everybody life. While it is a good source of profit, Diat-currency is easier for daily use. So, in a way, it can be said that both of the coins are already co-existing to some extent.
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October 19, 2018, 04:18:49 AM
 #25

Both co-exist at this point in time. As there is a lot to consider such as, if and when billions start using bitcoin can it handle the load of that many transactions together? Bitcoin is still in its early stages and it is too soon to tell if people will be willing to let go/stop using Fiat. Only time can tell.
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October 19, 2018, 04:20:47 AM
 #26

Fiat money for domestic needs and cryptos for overseas transfers. With all methods of existence, cryptos are cheapest way to transfer overseas (whether it be small or big amount).

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October 19, 2018, 05:53:03 AM
 #27

FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.

I think it will be possible, because right now let's see that bitcoin is seen a few years back and it is still up and down and we can only understand that it is still running. , look forward to more clarification on it.

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October 19, 2018, 07:04:42 AM
 #28

They can, but one can't replace the other, Bitcoin has its advantages but there is no replacing the tangibility and the ease of Fiat.
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October 19, 2018, 08:12:06 AM
 #29

They can, but one can't replace the other, Bitcoin has its advantages but there is no replacing the tangibility and the ease of Fiat.
I fully agree,I don't understand others where they have a dead set opinion that one should replace one another. When they can co-exist perfectly.

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October 19, 2018, 08:25:50 AM
 #30

yes, they will co-exist for a few decades more, I guess. As already almost every country has digital transaction systems, they will also issue their own crypto and fiat will go absolute in age.
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October 19, 2018, 08:34:25 AM
 #31

Hello,

Of course they could and will exist together. They have different purpose and different use. For me they are complementary. Even the best crypto will never totally replace the fiat that countries will want to keep. Crypto give good alternative when you want to have more liberty. But as soon as you live in "real" world you need standard fiat for day to day life.
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October 19, 2018, 08:44:48 AM
 #32

They are both two different entities and I think they can co-exist. When they both exist one of the advantages is that, We can use the Fiat currency to buy the bitcoin. 

Both of this exist today and we can observe this thing to happen. We can conclude that they both have potential but time will come that these two will be a competition in which the wil fight into being a currency. They co exist today but in the future someone will be gone.

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October 19, 2018, 09:18:53 AM
 #33

if Fiat is made as secure as cryptocurrencies, but owned by the state, then I think so

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October 19, 2018, 10:55:51 AM
 #34

I think bitcoin and Fiat will have to coexist together for many more years. The world will not be able to switch to cryptocurrency right away, no matter how much we want it, it will happen in many decades. And so we will be able to use the Fiat for a long time.

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October 19, 2018, 11:22:01 AM
 #35

Crypto currency may or may never become a global currency, but fiat already is. Crypto has to develop more before it could ever replace fiat currency. Till then both of the currency can co-exist.
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October 19, 2018, 11:26:22 AM
 #36

FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.

Yes. Why couldn't they co-exist? They do currently and in fact likely always will. Bitcoin has become more of a speculative asset like a digital gold and that's why most of the money is going into it right now, so this is like asking can fiat and gold coexist. As for bitcoin being a currency one of my personal visions for it it to become some sort of "world currency" and hopefully it will, but right now most of the interest is coming from investors, but hopefully that will change over time and it starts to be used more as a viable currency.

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October 19, 2018, 11:26:42 AM
 #37

We will need Fiat for many more years. The whole world is technologically developed in different ways, and a sharp transition to cryptocurrencies can not happen. Therefore, it is too early to talk about full replacement of Fiat with bitcoin.

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October 19, 2018, 11:39:50 AM
 #38

FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.

no they can't alone the usage of the word "fiat" shows how hostile the environment is, we are talking about communal currencies here.

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October 19, 2018, 11:43:16 AM
 #39

Fiat and Crypto have coexisted now, what do you mean by side by side? Is it because crypto is still not recognized as a global currency like Fiat? but even so crypto and fiat are side by side and you have felt the benefits now

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October 19, 2018, 11:44:03 AM
 #40

They are now quite successfully exist in parallel. And I do not think that everyone will want to switch to the use of cryptocurrency and Fiat will remain relevant for them.

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