Cryptocurrency will not replace fiat currency

[Magkirap]

yes I think so too even though some people say that crypto will be a means of payment in the future, but it seems to be inversely proportional to the fact people prefer to use crypto as an investment rather than as a daily payment.so fiat money won't really disappear.

all are not balanced with the implementation of the use of crypto on the real market. like how many shops accept crypto? when fiat is still the favorite of payment instruments that are easy to use, the chances of crypto to become a payment instrument will be very small. but when the products of the crypto project run on the market with real products, and many know and use them. I think there is still a chance. need trials such as creating a village with crypto money for all transactions and eliminating fiat in the village. there must be a trial I guess.

It will be near impossible for cryptocurrency to replace fiat because aside from the reason that you have said, cryptocurrency also requires technology or devices we can use to access our cryptocurrency but as we can see now even we are in the tech era there is still large percentage of people who don't own their own tech or know how to use them so it adds up to the challenge of having crypto our main means of payment but yeah i agree with the trial i guess, having it tested can help us locate what we're doing wrong.

[TopT3ns]

Governments are currently not ready to accept cryptocurrency as a main payment method, but crypto becomes more and more popular around the world. You can now buy many things with crypto, so it is the matter of time when everyone will be using cryptocurrency.

indeed there are currently some governments that have not yet received payments using cryptocurrency but now there are several countries that accept it and have been made as a safer and faster payment alternative, the government should not be able to prohibit the use of cryptocurrency as long as the seller accepts purchases using cryptocurrency.

[junkerr]

Governments are currently not ready to accept cryptocurrency as a main payment method, but crypto becomes more and more popular around the world. You can now buy many things with crypto, so it is the matter of time when everyone will be using cryptocurrency.

indeed there are currently some governments that have not yet received payments using cryptocurrency but now there are several countries that accept it and have been made as a safer and faster payment alternative, the government should not be able to prohibit the use of cryptocurrency as long as the seller accepts purchases using cryptocurrency.

countries only protect their own country's finances. it's natural because if the use of crypto is also high but countries don't manage crypto for their country properly, it can be bad for state finances. we must see how countries that legalize crypto as a means of payment. of course, we have to see many examples of the advantages and disadvantages that certainly exist in every crypto transaction that is used.

[antsam]

They didn't wanna recognize bitcoin as a replacement to the fiat but those countries can recognize bitcoin as a digital commodity that can be called as digital gold. Many sellers have accepted bitcoin caused by they were seeing so many potentials on bitcoin. It's slowly but surely bitcoin will be accepted as the next payment system.

The recognition of Bitcoin as a commodity in many countries has become good and positive news for Bitcoin. Because trading becomes official and opens opportunities to step into payment tools even though it is very heavy in my opinion, because the speed of Bitcoin transactions is very inefficient in my opinion.

True it is very good for the continuity of Bitcoin, if it has become a commodity then Bitcoin does already have an important meaning for the world, buying Bitcoin will be better now, and hold up to 1-2 years ahead

Not just for bitcoin but other crypto coins, because recognition as a commodity in many countries is very meaningful. At present crypto has its own market that will continue to grow

[antsam]

They didn't wanna recognize bitcoin as a replacement to the fiat but those countries can recognize bitcoin as a digital commodity that can be called as digital gold. Many sellers have accepted bitcoin caused by they were seeing so many potentials on bitcoin. It's slowly but surely bitcoin will be accepted as the next payment system.

The recognition of Bitcoin as a commodity in many countries has become good and positive news for Bitcoin. Because trading becomes official and opens opportunities to step into payment tools even though it is very heavy in my opinion, because the speed of Bitcoin transactions is very inefficient in my opinion.

True it is very good for the continuity of Bitcoin, if it has become a commodity then Bitcoin does already have an important meaning for the world, buying Bitcoin will be better now, and hold up to 1-2 years ahead

Not just for bitcoin but other crypto coins, because recognition as a commodity in many countries is very meaningful. At present crypto has its own market that will continue to grow

We really see how cryptocurrencies are rapidly developing and the market is becoming a global financial institution. I definitely believe in the future of cryptocurrency as a money supply.

The situation is possible but even if you go there it will take a long time, because many things must be changed starting from the regulation and speed of transactions and other things

[Tylev]

Now in the world there is a general trend of some replacement of cash by their non-cash types. We are talking about all non-cash forms of payments, and not just cryptocurrency. Therefore, cryptocurrency will certainly make its role in this common process. However, our world is not yet ready for the complete replacement of paper money with their non-cash types. This is a lengthy process and it depends on many factors. Many states are now working on the issue of their national stable coins and, as one of the reasons for their appearance, they indicate precisely the positive trend of partial replacement of cash with digital currencies. We are going to a non-cash society, however, there is no need for rush on this issue.

[Balladtony77]

Yes I believe that crypto can't replace Fiat too, the highest expectation that can happen is the live for digital currencies will increase but not to the extent of eradicating Fiat, nothing is wrong if they Co exist

[cahbagus555]

The central bank still plays an important role in driving the economy and I think cryptocurrency can be a supplement or alternative payment. There are still many people in this world who understand cryptocurrency correctly and most still have negative perceptions. But I think cryptocurrency will get a place as a means of payment because it is more practical and saves a lot of costs

[CHENIEN]

approximately,there are many traders which are willing to accept fiat currency to exchange into cryptocurrency .to replace.no. even though it is consistent process ,it is not considered as the best exchange cashing out from crypto currency to fiat due to its high fees required.

[JeffBrad12]

They didn't wanna recognize bitcoin as a replacement to the fiat but those countries can recognize bitcoin as a digital commodity that can be called as digital gold. Many sellers have accepted bitcoin caused by they were seeing so many potentials on bitcoin. It's slowly but surely bitcoin will be accepted as the next payment system.

The recognition of Bitcoin as a commodity in many countries has become good and positive news for Bitcoin. Because trading becomes official and opens opportunities to step into payment tools even though it is very heavy in my opinion, because the speed of Bitcoin transactions is very inefficient in my opinion.

True it is very good for the continuity of Bitcoin, if it has become a commodity then Bitcoin does already have an important meaning for the world, buying Bitcoin will be better now, and hold up to 1-2 years ahead

Not just for bitcoin but other crypto coins, because recognition as a commodity in many countries is very meaningful. At present crypto has its own market that will continue to grow

We really see how cryptocurrencies are rapidly developing and the market is becoming a global financial institution. I definitely believe in the future of cryptocurrency as a money supply.

It will never happen as the crypto is not regulated and that means if crypto is not yet getting approval. It's better to consider crypto as an alternative commodity or it much better to be considered it as a new kind of investment.
We have been seeing so many cryptos created anytime and if we are trying to take crypto as a thing that will replace fiat and we don't even need a thousand crypto.

[Yudhisthir]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

From the way bitcoin is designed, people could easily say he intended it to be used as an investment rather than transacting currency.
And as of crypto not being able to replace fiat, it's really early to predict it wont. Almost every of the countries are working one way or other to digitalize their currency and crypto is a better option as it provides transparency.

[Crypto_lion]

As much as I support crypto currency or digital currency I don't see that happening in the next 10 years in a large scale . Although there are reports that China is preparing it own version of currency called DC/EP it will be centralised and controlled. I don't see decentralized currency replacing Fiat.

[awakpane]

I agree that Cryptocurrency will not replace fiat currency. to implement Cryptocurrency replacing fiat currency is very difficult because Cryptocurrency is a digital currency that does not exist in real form, and often fluctuating and inflation.

[tvplus006]

yes I think so too even though some people say that crypto will be a means of payment in the future, but it seems to be inversely proportional to the fact people prefer to use crypto as an investment rather than as a daily payment.so fiat money won't really disappear.

The development of new technologies cannot be stopped, and this applies to the banking sector. Now more than 60 countries are on the way to creating their own digital currency. And this digital currency will definitely replace the Fiat currency.

[Latviand]

Both would more likely co-exist in the world market, at the present view, since there are countries who do not recognize the existence and advantages of cryptocurrency and blockchain technology. We are on the digital era wherein most of the things are aligned in technology. There might be a day wherein fiat will no longer be used due to the evolution of technology but there is also a possibility that another digital currency would be created that would more promote equality, which is quite hard to see in Bitcoin that has unstable market price.

yes I think so too even though some people say that crypto will be a means of payment in the future, but it seems to be inversely proportional to the fact people prefer to use crypto as an investment rather than as a daily payment.so fiat money won't really disappear.

The development of new technologies cannot be stopped, and this applies to the banking sector. Now more than 60 countries are on the way to creating their own digital currency. And this digital currency will definitely replace the Fiat currency.

I would agree with the turnover of digital currency but I doubt that it would be cryptos that would be the center of currency in the future. There are still issues such as decentralization and lack of taxation(?). But who knows, it is still too early to make conclusions. If ever there will be adjustments that would meet the demands of thr majority of countries, that could be the answer.

[Wildwest]

If the government supports the use of cryptocurrency in the substitute as fiat currency then this can happen but the process that must be lived is very complicated because it should be able to believe in all parts of the community, because its should be online but if it is made as a fiat currency then it is very complicated, if the government supports all there is certainly a way.

[Zidan Bst]

That is true. Even Bitcoin is decentralized, I think there are only few Users that use bitcoin as a payment.On the contrary, A lot of people use bitcoin for trading to get profits.
Bitcoin is like a stock market . It is way to get more moneys to become rich.

[sangjoewara]

As much as I support crypto currency or digital currency I don't see that happening in the next 10 years in a large scale . Although there are reports that China is preparing it own version of currency called DC/EP it will be centralised and controlled. I don't see decentralized currency replacing Fiat.

Yes, until now there is no decentralized currency that has replaced Fiat, although the value is almost the same and between fiat currency and digital currency it will obviously be different ways of using it, although we must support and use the two currency models accordingly each other's needs.

[Youghoor]

The reality on the ground is that, though Satoshi had it in mind creating a decentralized cryptocurrency the low supply of bitcoin also make it decent enough to invest into. So there are two communities now: those using bitcoin as a currency and those investing in as an asset. You have to choose where you belong. There are online market stores that accept bitcoin as payment whereas there are platforms like Stakecube that allows users to hold their bitcoin for profits after a period of time.

[tbterryboy]

Alternative is already there, it is still a quite achievement to have and I still think it is marvelous how far we have come so far with bitcoin.

If you do not think bitcoin is an alternative to fiat, tell me what other currencies other than fiat you can use to buy stuff online, there is no "currency" other than fiat and bitcoin in online shopping, stuff like krill or paypal or whatever are all payment systems and not currencies themselves, there is no stuff like "I bought 3 paypals last yesterday" or whatever. Which is why I think bitcoin is already an alternative. However maybe it can't reach that standard of currency, maybe fiat can stay forever and that is something we will never know until it really happens.