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Author Topic: Can Bitcoin and FIAT co-exist? What will be the advantages then?  (Read 545 times)
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October 21, 2018, 09:29:36 AM
#81

Bitcoin and FIAT are already co-existing! If you say "legally" I sure think the both can co-exist. But it would depend on what government thinks about cryptocurrencies. Only a few services accept $Bitcoin in its form as payment, for you to pay elsewhere you first have to convert your $Bitcoin to FIAT to make your payments possible! Alot of people who got  wealthy from $Bitcoin wouldn't have been counted as millionaires if their wealth was only in $Bitcoin, so they needed to convert to FIAT for their wealth to be counted.

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October 21, 2018, 11:56:02 AM
#82

They co-existed already from the day Bitcoin was created. Fiat currency helps bitcoin and other altcoin to reach their all time high. Bitcoin is virtual money while fiat currency is an actual money and they have different purposes. Not all businesses accepting virtual currency like bitcoin right? To earn using Bitcoin, we convert our fiat to crypto currency. Wait for the value of bitcoin to multiply then vice versa, we convert bitcoin to fiat currency to support our daily needs.

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October 22, 2018, 03:58:23 PM
#83

I think they should co-exist
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October 22, 2018, 04:07:26 PM
#84

They are existing now together, and it looks like they are doing fine. Currently, Fiat money is for everyday payments, unfortunately, cryptocurrencies are not ready for that. But to transfer a lot of money, through borders, cryptocurrencies are way more effective.

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October 23, 2018, 01:51:06 PM
#85

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 its happening now, we enjoy fiat money and cryptocurrency at the same time and if you see the result right now, we have so much options to transact around the world. Fiat money will stay, it will not die so both of this currency will co-exist and it will help us to live in a better way.

Cryptocurrency attracts many investors because of its technology, and if people continue to support this one soon we will witness a great financial system than can beat banking system, well this is purpose of a decentralized market at all.
Yes.Cryptocurrency is really making its own trademark in the financial system nowdays but we cannot also ignore that fiat currency is still here and cannot be replace as easy as that.I believe that these two will create good advantages if they will co-exist together just like what is starting to happen now.

I think both will be exist and work same as both have their own fundamentals of work. Banking system needed to run some tasks which bitcoin cannot do.

Of course, they will coexist peacefully. Fiat and cryptocurrencies will be soon used together. I suppose, traditional money will not die as well as the cryptos. People trust Bitcoin and altcoins but they use dollars and Euros all the time.

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October 23, 2018, 02:04:42 PM
#86

Bitcoin in fact can co exists with FIAT but, because if you use Bitcoin, you can use FIAT less and in this way you promote new technology.  Grin 
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October 23, 2018, 02:08:52 PM
#87

Both should co-exist. Bitcoin will be the universal currency while fiat will be a certain country's, but fiat should also be in cryptocurrency form in every country.

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October 23, 2018, 02:20:11 PM
#88

Of course it can. It's already co-existing today, in a way. What will be the advantage? Options. People and businesses will have options as to what to use or accept. For example, when you're purchasing a real estate property or a vehicle, bitcoin transaction could be the perfect payment option for this because it's less hassle. For smaller transactions, fiat will be better. It's a win-win situation, right?
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October 23, 2018, 02:22:59 PM
#89

Both will co-exist until all aspects of society become decentralized and digitized thanks to blockchain, crypto, and virtual-work, news, governing, laws, entertainment. This will take quite some time but the shift is inevitable and means a much more peaceful and sustainable existence for future generations.
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October 23, 2018, 02:56:03 PM
#90

I think some other e-currencies have been in existence before bitcoin and they have coexsit with the traditional currencies. However all this ecurrency give birth to an end product which turn out to be fiat. the same is happening today. many people end up converting crypto to fiat in order to be able to spend it on thing they cannot buy directly with bitcoin which mean there are surplus of things bitcoin can not buy and i do not think bitcoin will dominate fiat. There are millions of people around the world who do not have access to internet neither of knowing cryptocurrencies. fiat and bitcoin have a wide gap

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October 23, 2018, 03:22:13 PM
#91

Fiat has existed for hundreds of years, it is extremely important and irreplaceable. Bitcoin is electronic money, it's growing and getting better and better. Bitcoin has some benefits that Fiat does not have. I think bitcoin and fiat will exist together, support each other.

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October 23, 2018, 08:43:42 PM
#92

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.
Of course they can and right now they do. Fiat can stand with out bitcoin but bitcoin with out fiat what would be the value? To which currency will they base bitcoin price with gold? And gold value will be based on what? I cannot imagine bitcoin痴 fate if there will be no fiat.

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October 23, 2018, 08:50:46 PM
#93

I think that you can answer your question on your own, if the government sees that it can co-exist with their local fiat currency then I also believe it can co-exist. It simple a lot of countries instead of avoiding cryptocurrency is building up a legal framework or a regulatory framework in order for Fiat currency and cryptocurrency to co-exist in the word. The government's view towards cryptocurrency drastically change and is now trying to exploit both cryptocurrencies and the blockchain technology for their own economical growth.

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October 23, 2018, 10:28:21 PM
#94

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.
it can happen very well, and this has great benefits for the community, such as someone who doesn't know about technology can use Fiat, and vice versa, other than that this will help the bank's movement faster.

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October 23, 2018, 11:00:40 PM
#95

Of course they can co-exist because are of different functions in the modern world. Bitcoin blockchain will revolutionize significant financial processes and mostly online transactions. While fiat is for non-online transactions.


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October 23, 2018, 11:17:07 PM
#96

Of course they can co-exist because are of different functions in the modern world. Bitcoin blockchain will revolutionize significant financial processes and mostly online transactions. While fiat is for non-online transactions.

I agree with you that they can be designed to co-exist with some transactions they have the same purpose and for some they do not overlap to their purpose. Example they can be used as options in payments online. But bitcoin can't be used offline so that is where fiat come in. Bitcoin can be used in significant processes.

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October 23, 2018, 11:38:46 PM
#97

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.
Isn't it happening already? I mean both are existing aren't they? Though there are controversies (as expected) with cryptocurrencies, this is a normal thing with something quite new. Many were skeptical when cryptocurrency was introduced. But of course, aren't we all when it comes to change? Skepticism only remains until proof of functionality and usage has been made along with education and research. But this process takes time. And crypto is going through that process. As you've mentioned, fiat's been around for hundreds of years. Crypto's been around for barely a decade. So I believe crypto should be given a fair amount of chance to prove itself.

maulana rifai
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October 24, 2018, 12:45:10 AM
#98

Fiat has existed for hundreds of years, it is extremely important and irreplaceable. Bitcoin is electronic money, it's growing and getting better and better. Bitcoin has some benefits that Fiat does not have. I think bitcoin and fiat will exist together, support each other.
frankly, these two currencies provide tremendous benefits in their fields. Bitcoin can be exchanged with FIAT and vice versa so that giving us convenience can all be used for transactions. Bitcoin and FIAT will still be liked by the public.

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