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

[bobitza]

If, in the next few years, the cryptocurrency market is stable, many countries accept payment in cryptocurrencies, then Bitcoin and other digital currencies can completely replace fiat. But the future is unpredictable, it may or may not happen. And what do you think about this?

[altcointalk14]

And you think governments will allow this happen. The place where I live, i can hardly buy anything with cryptic and there are many countries in the world where crypto is no where to be seen. Just because it's a cool new innovation doesn't mean it can replace fiat. First let's see can we buy something with bitcoin in real life or not. A cup of coffee price in bitcoin is way less then its transaction fee and settlement time is too high.

[Eclipse26]

Traditional paper money was already existing for a long long time and I don't believe that 10 years is enough to make fiat vanish just easily. In that 10 years, the possibility of cryptocurrency growing and adoption is big but fully replacing fiat isn't easy to achieve. It's hard to predict what will happen after a decade. And actually in reality, a decade isn't enough for third world countries to make that big changes

[imstillthebest]

this topic isnt new and been discuss many times before  but all i can say is that cryptos cant fully replace fiat but partially replace it maybe  because crypto were also useful and have double purpose than compare to fiat alone    .

still a nice prediction though if big people wants this to happen because we know that they are also into cryptos and will gladly support cryptos until the future comes  .

[boris singer]

Traditional paper money was already existing for a long long time and I don't believe that 10 years is enough to make fiat vanish just easily. In that 10 years, the possibility of cryptocurrency growing and adoption is big but fully replacing fiat isn't easy to achieve. It's hard to predict what will happen after a decade. And actually in reality, a decade isn't enough for third world countries to make that big changes

Third world countries will follow the policies of developed countries if it happens simultaneously, it will still take time but in the end they will be able to adapt. effectiveness will still lead to a new era of digital money even though it will still be wrapped in fiat system, this is where people will start their new steps to use bitcoin as an alternative without having to replace fiat, but the government also cannot deny regulation if the use of bitcoin is far more transparent geo-politically in the coming decades.

[btc78]

If, in the next few years, the cryptocurrency market is stable, many countries accept payment in cryptocurrencies, then Bitcoin and other digital currencies can completely replace fiat. But the future is unpredictable, it may or may not happen. And what do you think about this?

and everything will start after the halving next year,since we are now growing and growing and the community will be multiplied specially when the price booms again more than what we have in 2017.

and yes another decade will be enough to reach our goal to finally overtake fiat and Crypto becomes the primary currency.

[Edraket31]

If, in the next few years, the cryptocurrency market is stable, many countries accept payment in cryptocurrencies, then Bitcoin and other digital currencies can completely replace fiat. But the future is unpredictable, it may or may not happen. And what do you think about this?

and everything will start after the halving next year,since we are now growing and growing and the community will be multiplied specially when the price booms again more than what we have in 2017.

and yes another decade will be enough to reach our goal to finally overtake fiat and Crypto becomes the primary currency.

Let us see what will happen in the next year if what will gonna happen to the movement of the price of Bitcoin in halving. How people will add demand to this upcoming halving. I think we need 1-2 more decades before we'll finally have full adoption in the Bitcoin, it really needs more time and marketing before it will finally adopt in the world.

[Ailmand]

A decade is a long time and there could be a lot of things and changes that can occur. We might be slowly switching from fiat to cashless society. But as of now, fiat is still useful since crypto usage as a mode of payment or alternative is limited and it is not fully adapted yet. It might take sometime before we fully adapt crypto and use it in a daily basis.

[blckhawk]

I'm more positive into this. A decade could look short, but recent innovations have been exponential in nature. And the need for paper money and coins are getting obsolete, with digital means already being used and sometimes even replace paper money completely.

It is also worth noting that paper money and fiat is different terms. Paper money is the physical representation, fiat is the currency itself and could exist digitally or physically.

Also, Bitcoin is not the only potential replacement for fiat. It could be Ethereum, or other still unknown cryptocurrency, or government-backed cryptos. Nobody knows for sure.

[julius caesar]

I don't think this is gonna be the best idea. We all know that we both need digital currency and the physical money. We do not have internet always with us every time we pay our bills that is why we will be needing physical money to be able to pay those items that we want. The combination of two will be surely gonna be good to the economy of the country.

[bitzizzix]

Although I agree if a decade or more in a few decades if Bitcoin or cryptocurrency really replaces fiat currencies completely, it doesn't seem as easy as that.
because each country has a fiat currency as a symbol of their country and various other reasons that will not be easily replaced completely, even though bitcoin or cryptocurrency is better than fiat currency, it seems that both will run together and complement each other as a means of payment.

[fiulpro]

No.
I think it should be more like a century for something like that to happen , one should understand that , Fiat is very important and one cannot just eleminate all the poor people without mobile and the internet , the world isn't that developed till now , therefore one should understand that Fiat is very essential , let's not take everything away .. I like going on a trip without the internet and all and trust me on the top of the mountains , you don't have cards , all you have is some change and a hot cup of tea .

[iamsheikhadil]

It might not. Because even if it seems like that, many people of the world still don't have access to proper gadgets to use such digital currencies let alone education to learn about them and how to use them and for that time fiat will still be dominant and primary and "real" money.

[angrybirdy]

It might not. Because even if it seems like that, many people of the world still don't have access to proper gadgets to use such digital currencies let alone education to learn about them and how to use them and for that time fiat will still be dominant and primary and "real" money.

Chances are really low, yes one reason is that the technology hasn't reached yet the rural sides of some other countries. One more thing is, individual people still prefer to have their real money which is tangible. Bitcoin has more chance only to become an alternative option to make transactions.

[samcrypto]

A decade is a long time and there could be a lot of things and changes that can occur. We might be slowly switching from fiat to cashless society. But as of now, fiat is still useful since crypto usage as a mode of payment or alternative is limited and it is not fully adapted yet. It might take sometime before we fully adapt crypto and use it in a daily basis.

That may look too long and its possible just have patience but let’s not expect that to totally happen because fiat money is still a fiat money that is being run by the government to control its people. Bitcoin will grow more and I think fiat money will also grow and become more cashless as well, technology will help the old system to grow.

[TIDOVEE]

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. 

there are still large portion of the world that are yet to know digital currency let alone use it. digital currency need to go wider to gain better acceptance. ofcourse in the next decade didgital currency have a potential of dominating the world currency. fiat is still preferred now because it is uninterruptibly generally acceptable.

[djsugar]

Private digital currency might take over the Fiat currency in the next decade. For that everyone needs to be digitally connected and digitally literate enough so that they can access their wallets and could trade in a safe environment. I doubt all these governments will allow any decentralized currency to thrive as it can be a threat to their existing monetary system.

Btc can have a future only if we as a community can support it strongly.

[error08]

Clearly it will not, the cryptocurrency doesn't have what it needs to replace fiat currency, trusted by everyone due to the biggest flaw, manipulation. The crypto world still in the early phase of development and will take more than a decade to become a stable market. The government may issue their own digital currency using blockchain technology.

[betty11]

Without doubt, Cryptocurrency is going to dominate fiat and all these gift cards. Any wise government will have to open a research on it. I love what the French is doing by teaching this in school. Developing nations will see no wisdom in all these until they are left behind.

[error08]

Without doubt, Cryptocurrency is going to dominate fiat and all these gift cards. Any wise government will have to open a research on it. I love what the French is doing by teaching this in school. Developing nations will see no wisdom in all these until they are left behind.

No, it will not until crypto free from manipulation, without whales we'll have a more stable market, but how long it takes to get there? The government research about digital currency to create their own, but it still another form of fiat currency, it needs to be stable but on the other side, cryptocurrency is a volatile market, see the difference.