In the next decade, BTC and digital currencies will “fully” replace fiat?

[cheezcarls]

In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.

Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.

Source link here

Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.

Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.

It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.

Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. 

[1715588953]

1715588953

[squatter]

In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.

This is a bit of a stretch. These are articles written by individual research analysts in Konzept, a magazine published by DB Research.

Regarding "inevitable," the opening editorial offers this warning:

A staggering list of incorrect ’decade-ahead’ predictions litter history. In the 1970s, some expected gold to lose all value in the era of fiat money. In the 1980s, most believed quartz watches would completely replace the mechanical sort. In the 1990s, a host of publishers rejected the Harry Potter manuscript, while in the 2000s, internet buffs said remote working would end the office.

Herein lies the trouble with most ’decade-ahead’ predictions. Either, they merely extrapolate current, well-known trends, or they are so outlandish it is impossible to see a link between now and the future.

With this challenge in mind, for this special edition of Konzept, we asked our research analysts for original ideas with plausible links to today. It took time but this Konzept contains 24 contrarian ideas for what the coming decade may hold. We fully admit that some may not eventuate but as a society, individuals, and investors, we want to be ready for the unexpected challenges of the 2020s, not the themes of the decade just gone.

Despite a lot of ifs, "The end of fiat money?" and "Cryptocurrencies: the 21st century cash" are good reads.
https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF

[Oni Trading]

Fiat worlds is has been gearing towards the end for the last couple of years. There re reports over 90% of payment are electronic payments in Scandinavian countries. However, this is still mostly centralized credit cards and payment processors. BTC and crypto is just the next evolution of that.

[agentx44]

In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.

Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.

Source link here

Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.

Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.

It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.

Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. 

We don't need to be exaggerated about cryptocurrencies regulation all over the world. Instead of hoping that it would fully replace fiat in the future, we should look forward on having cryptocurrency and fiat being in harmony so that things would work it well. We can say that cryptocurrency indeed is the future but fiat has been used for a long time ever since which means it would take up a long time before crypto finally adjust in the world standard. Let us support both always so that we can gain more convenience from it.

[Gotumoot]

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

[Shenzou]

It is obvious that the whole world is changing and moving toward a major change in the way we do things including transactions and money, the fiat is losing it viability that is why governments are trying to find a solution some are thinking of cryptocurrency and a lot of people think that bitcoin is going to be used in that situation, but it is not, not because its is not good or people won't use it, its because governments won't be able to control it and they won't be able to monitor transactions, that is why they will be trying to create their own crypto and force people to use it.

[tippytoes]

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

I do agree with that. 10 years is quite short to have crypto in the mainstream market. Up until now, crypto users are still very low in number as compared to the global population. And considering that we already celebrated the 10th anniv of bitcoin. Though the adoption is growing fast, yet there are still remote areas that up until now are not influenced by advance technology, so how much more with crypto usage? Fiat would still be the main currency worlwide, ten years from now. Just my thoughts here.

[Baby Dragon]

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

I do agree with that. 10 years is quite short to have crypto in the mainstream market. Up until now, crypto users are still very low in number as compared to the global population. And considering that we already celebrated the 10th anniv of bitcoin. Though the adoption is growing fast, yet there are still remote areas that up until now are not influenced by advance technology, so how much more with crypto usage? Fiat would still be the main currency worlwide, ten years from now. Just my thoughts here.

Indeed, there are still a lot of people from rural areas who are not familiar with cryptocurrency. Some of them does not even know that a digital currency existed in this world and I think it will be difficult for them to understand it. It will take a long time before it can replace fiat and by just looking at it, a decade will never be enough particularly these days that there are some politicians who's against with bitcoin and any other digital currencies. Using cryptocurrency has a lot of advantages but replacing fiat with crypto can have a positive and negative impact on crypto itself. Well no one knows what will happen in the future, let's just wait and see.

[MWesterweele]

It is obvious that the whole world is changing and moving toward a major change in the way we do things including transactions and money, the fiat is losing it viability that is why governments are trying to find a solution some are thinking of cryptocurrency and a lot of people think that bitcoin is going to be used in that situation, but it is not, not because its is not good or people won't use it, its because governments won't be able to control it and they won't be able to monitor transactions, that is why they will be trying to create their own crypto and force people to use it.

I think it could not replace fiat. There is a main currency in each countries worldwide we all know that. It is more possible to happen if bitcoin will be accepted as on of the currency , like in US they recognize pound , sgd, yen and so on. Yes, in the near future digital currency will be the trend but I think countries will not agree if it will be replace by crypto or btc.

[DoublerHunter]

This has been already discussed so many times in here but the majority of those replies saying that it is impossible to replace the fiat into cryptocurrencies. The main reason I think that probably because of the decentralization system that crypto has. The government in all countries has its own currency and also has designated value on its currency. Think it over if we had all the same value of money, probably there is no currency trading happen. Nevertheless, it will probably happen if cryptocurrency is a second alternative digital currency and partnered with local fiat.

[BitcoinsGreat]

Fiat worlds is has been gearing towards the end for the last couple of years. There re reports over 90% of payment are electronic payments in Scandinavian countries. However, this is still mostly centralized credit cards and payment processors. BTC and crypto is just the next evolution of that.

Behind all the credit cards and electronic payments, the base currency used is the fiat. The use of plastic cards (Credit /Debit cards) are not actually replacing fiat but are facilitating the fiat currencies.
Bitcoin, on the other hand is pure digital currency which is not backed by paper money. It will take some time before we see pure elimination of fiat currencies.

[Twentyonepaylots]

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

10 years would not be enough to fully replace the use of fiat currency but let us be realistic here. If we are going to jump into a digital currency as means of trading in our daily living that would not be bitcoin, government won't let that happen coz we cannot live freely as the government says and they should continue too.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

Well that is just their opinion. Prediction is just an opinion based on what a person can see in the present. Yup there are still people who is in favor of bitcoin but don't label them as ignorant, maybe they are just satisfied with what's on their front and don't wann give a shot with cryptocurrency even if it has a lot of help.

[Argoo]

Now the volume of turnover of electronic money is growing, which are the same national currencies of states. Cash turnover will decrease over time, but it will not disappear at all. In general, national money in the form of electronic and cash will exist as long as the state exists. National money of states is an invariable attribute of the existence of each state. Without them, the economy of states will fall apart.
States will continue to actively use stable coins, which will represent all the same digitized currency of the states.
A decentralized cryptocurrency will simply occupy its niche as another type of many means of payment. It will not have a dominant role among other means of payment. A decentralized cryptocurrency can go in society only along with the national money of states. Everything else is just pure fantasy.

[Maotezi]

So in my opinion, and from the point of view of one of the most developed countries in Europe, Sweden, electronic payment changes primary money, which can only be good for the world, and that Sweden will throw out its coin.
And the crypto world and Bitcoin are in my opinion irreplaceable, they are simply the best payment method and most importantly in the long run.
I think as long as there is a world, there will be bitcoins

[gentlemand]

I'm sure fully digitalised fiat currencies will exist in some countries.

As long as large amounts of people exist so will countries and governments and so will tax. They will charge in a currency they control and also pay out in it. In many a place well over 50% of people are employed by the government and others will be on some form of welfare so that's an extremely large captive market that'll never go away.

That means real crypto remains a sideline albeit an ever growing one.

[shark1006]

In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.

Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.

Source link here

Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.

Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.

It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.

Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. 

Predictions are not a real future. Yes, Bitcoin is a very promising digital asset that can change the financial sector and economy. However, the adoption depends on the governments, but i dont see that governments wanna accept digital currency and replace fiat money. Accepting goes very very slow

[ene1980]

It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.

Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. 

To see a world where paper currency is fully replaced in a decade's time is impossible, you might see that in the developed countries but you have to take into consideration the poorer nations and how on earth do you think that will happen on a global scale, it is an impossible dream to imagine that the entire world will transact digitally and it is not going to happen in a century. The bitcoin market is just ten years old and it will take more than a couple of decades to reach everyone let alone dreaming of having a world dominated by digital currency.

One more thing, becoming digital and becoming crypto based are entirely different view of point and it is an entirely different topic altogether.

[kryptqnick]

I agree with others that replacement within a decade is highly unlikely. Some countries might experiment with digital currencies, adopting the existing ones one way or another or making their own national currencies. But come one, the scalability problem is not only related to Bitcoin, but it's also pretty much a flaw of any blockchain. Until this problem is tackled, I don't think cryptos can change world economics. We have to wait and see how it goes, and someone has to offer easy-to-use solutions so that people can go to grocery stores and buy food with crypto without doing anything more difficult than what they do nowadays.

[vintages]

Just because it's coming from a bank does not guarantee that something like this will happen in the future.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.

[stiffbud]

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

But digital currencies replacing fiat doesn't altogether mean that bitcoin or any other crypto will be replacing the fiat currencies. Maybe in the coming years the central banks of the world can make an alliance and then they will form a digital currency for the world and that would become what US Dollar is as of today and if this happens then it will surely be the end of fiat currencies as we know it.