Cryptocurrency can not replace fiat currency.

[Yatsan]

You actually did not give strong reasons why cryptocurrency can't replace fiat currency. Cryptocurrency can actually/theoretically do most things fiat currencies can do, but I doubt typical fiat currencies can safely do most things cryptocurrency can do with losing their centralization. Besides, government can run their fiats on Blockchain or other real decentralized system.

Crypto could actually work better in rural areas than fiat, even without relying too much on internet. But I believe safe/crypto-friendly worldwide rural internet coverage is a possibility in the future

Can I use crypto offline? LOL. Crypto cannot replace fiat, like it or hate it but that's a fact. We can't use any crypto for micro-transactions because the fee alone will take the value of the product that you are going to buy. Not all people have access to internet and not all people have smartphones and computer, and just saying that two aspect, not all people can use cryptocurrency. We cannot replace fiat with cryptocurrency simply not all of people are afford to have the requirements to use it. And besides, when all of us use cryptocurrency the government and soon the country economy will collapse because there's no way to tax people if they are using crypto and not fiat.

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[ssamotoev]

Yes of course, Crypto takes a long time to be able to replace fiat money as a legal currency used by all people. Until now, there are still many people who do not understand about the world of Crypto, so it is difficult to make Crypto as a recognized currency, but I personally believe that in the future Cryptocurrency will be able to replace fiat money.

But we've all seen how credit card payments drive Fiat out of everyday life. The same can happen with non-cash payments, when they will be replaced by the national digital currency. Most likely, most people will not even notice this, as they will continue to pay with the card.

Payment cards are far from cryptocurrency. Cards have been successful for making the society a cashless place. Although, it is digital in nature but at least it can be feeled by the presence of the card but not like bitcoin. Anyway, it is going to take a longer time.

I can see why you think that way. However it may take less time because people are not that afraid of cashless life at this point. And on top of that you could notice how fast world is changing nowadays so people are not that conservative about things - you can see a lot of grandmas with smartphones so we can see current 50-years ladies using crypto when they will be 70 or 80 

[Inkdatar]

Cryptocurrency could replace Fiat but it would take so much time.
And about the volatility of the price there is already some stable crypto that could be used like USDT so it only depends on the adaptation.
BTC price volatilitiy is still a problem for most of the people to use it.
And using crypto is much more easier than it looks people just need to take some time to know it.

This has been discussed many times and I don't think cryptocurrency can replace fiat. Many people still not adopting this kind of technology. Although using crypto as payment could really help to ease work and less hassle. Yes with btc price volatility is one of the major concern by many that's why most prefer using fiat instead of crypto.

[eaLiTy]

And besides, when all of us use cryptocurrency the government and soon the country economy will collapse because there's no way to tax people if they are using crypto and not fiat.

I do accept majority of the factors you mentioned including BTCitcoin replacing fiat because it is impossible to do micro transaction in third world countries considering their currency valuation and not everyone is rich enough to afford an internet connection but when it comes to taxation you will be liable to pay your tax and once the exchanges will be regulated by the government and the only way to purchase the coin is through your bank account everything will be transparent, all you need to do is disclose you crypto profits and pay the tax accordingly to be on the good side of the law.

[FanatMonet]

And besides, when all of us use cryptocurrency the government and soon the country economy will collapse because there's no way to tax people if they are using crypto and not fiat.

I do accept majority of the factors you mentioned including BTCitcoin replacing fiat because it is impossible to do micro transaction in third world countries considering their currency valuation and not everyone is rich enough to afford an internet connection but when it comes to taxation you will be liable to pay your tax and once the exchanges will be regulated by the government and the only way to purchase the coin is through your bank account everything will be transparent, all you need to do is disclose you crypto profits and pay the tax accordingly to be on the good side of the law.

According to the latest data, in Africa only 35.4% of the population have access to the global network, which is very, very small. There can only help the world free Internet, the implementation of which at the moment is engaged in Elon Musk. Well, gadgets are still needed, but their prices are pretty low.

[Hippocrypto]

I always believed it won't replace fiat currency because decentralized character won't be changed. People already learned the value of crypto nowadays, and it won't be changed on their mindset. Although more people already thought that crypto would be the best options to eliminate fiat problems in terms of transactions, but it's not that easy to divert into something unusual for other non crypto users. That's why it need to mature more often before we implement this kind of system to each individuals.

[STT]

FIAT is already failed in some countries and crypto used instead alongside any possible fungible value such as gold, notes or plain food and commodities.    It can replace FIAT which itself is only digital money mostly but there is a great deal of demand for FIAT created by the use of taxes where as crypto is unbacked just free usage.

There are still some rural places in this world, so it will be hard for them to adopt the new system if this will be implemented in the future

Places use sea shells in the past when no unique item could be found, many things can be used if situation should force it obviously just plain barter happens.  Crypto could be used via plain display in various coins created.  It does involve a greater amount of trust to do it that way as the confirmation is not live but its still possible to use BTC almost anywhere.  If it was really required in the middle of nowhere then I guess a satellite phone is possible and a hub would be distributed from that source

[ufaiz50]

I have seen so many posts about emerging cryptocurrency, and they think that someday it will take over our current system, or it will replace our fiat currency, which is really impossible, yes cryptocurrency is such an excellent currency especially the bitcoin, cryptocurrency keeps on being more prominent and more significant. Still, I think it is not enough to replace the fiat currency. It will be hard for the government to do that.

It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life. Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.

There are still some rural places in this world, so it will be hard for them to adopt the new system if this will be implemented in the future, which I hope won't happen, and even those person in provinces will also get mad if those things happen.

It has often been discussed even a few years ago that in the view of economists, it was risky to turn a highly fluctuating currency into a currency that "replaced FIAT". Maybe with the existence of a stable coin is the reason economists give a voice about the good cryptocurrency to become one of the currencies that may be legalized by the government.

[BlackFor3st]

I have seen so many posts about emerging cryptocurrency, and they think that someday it will take over our current system, or it will replace our fiat currency, which is really impossible, yes cryptocurrency is such an excellent currency especially the bitcoin, cryptocurrency keeps on being more prominent and more significant. Still, I think it is not enough to replace the fiat currency. It will be hard for the government to do that.

It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life. Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.

There are still some rural places in this world, so it will be hard for them to adopt the new system if this will be implemented in the future, which I hope won't happen, and even those person in provinces will also get mad if those things happen.

I fully understand your point, yes the current government is not yet ready to implement digital assets as a main currency right now because there are still plenty of hurdles that needs to address like those places where electricity is not present or those places that don't have the technology in order to transact the digital payment.

But our society is keep on improving as days passes by so there is a big chance that in the future these problem will be address and digital payment will replace the old fiat system. The possibilities is very wide so we cannot close the door for crypto or digital asset to replace the fiat system and I believe that it will happen in the future.

[julius caesar]

It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life. Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.

This is also my reason that is why Cryptocurrency is impossible to become our fiat currency. The combination of the two is still better rather than just a crypto by itself. The transaction using crypto needs internet and cannot stand alone by itself unlike transacting using fiat. No need internet and capable of transacting whenever they want.

[Ailmand]

This is true as of now since cryptocurrency is not yet fully adapted and is volatile in nature, it doesn't fit to be used as the main currency. Time will tell whether people will still be using fiat as a currency in the near future or whether if crypto will replace or if not will be an alternative to fiat. Technology is emerging fast we don't know what possible things might happen in the future.

[Xampeuu]

It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life. Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.

This is also my reason that is why Cryptocurrency is impossible to become our fiat currency. The combination of the two is still better rather than just a crypto by itself. The transaction using crypto needs internet and cannot stand alone by itself unlike transacting using fiat. No need internet and capable of transacting whenever they want.

right, a combination of the two can be used in all conditions. We know that geographical location, the age level where has limitations to access the internet. especially for countries that are left behind, it would be difficult if only crypto in circulation. besides that indeed high price fluctuations are still a problem in crypto as a currency

[dentolas]

Well, you are looking at the issue on the practical side of it...
Theoretically crypto can replace fiat with several advantages, but is the world ready? is crypto ready?
The world is definitely not ready... the westerns think the world is only the west.... but just look at Africa, for example.... how many countries have a complete coverage of internet? hell, how many have complete coverage of electricity?  we need to look around before we say the world is ready...
And crypto, is it ready? BTC lightning network is still not working properly (at least to my knowledge), so the network will get clogged with mass use.... and the prices? with this volatility, will we be able to use it as regular money?

[nigelk]

Thats right. People will always trust more in govs money than in crypto

[Sadlife]

It doesn't have to necessarily replace it and change how the system works but it can be used as an alternative technology to the ones that's centralized and exploitable.
Bitcoin and Cryptocurrency are there to introduce a new modern way to tranfers money without the restrictions and delay from traditional money.

[xSkylarx]

It doesn't have to necessarily replace it and change how the system works but it can be used as an alternative technology to the ones that's centralized and exploitable.
Bitcoin and Cryptocurrency are there to introduce a new modern way to tranfers money without the restrictions and delay from traditional money.

That's certainly true. People think that when we say that we will be using cryptocurrency we will totally eliminate fiat which is really impossible. We still need time until we totally adopt cryptocurrency as a national or international currency. It still has to go a long process but we all know that crypto is always surprising, things will surely get better in the future.

[Kasabus]

It doesn't have to necessarily replace it and change how the system works but it can be used as an alternative technology to the ones that's centralized and exploitable.
Bitcoin and Cryptocurrency are there to introduce a new modern way to tranfers money without the restrictions and delay from traditional money.

That's certainly true. People think that when we say that we will be using cryptocurrency we will totally eliminate fiat which is really impossible. We still need time until we totally adopt cryptocurrency as a national or international currency. It still has to go a long process but we all know that crypto is always surprising, things will surely get better in the future.

Yes. I am not against with fiat currency but i also believe that cryptocurrency has great potentials to be a legal currency in the future. People are now starting to take a glance on crypto just like some other countries are already developing their own digital currencies. This does not mean that fiat currency will be totally replaced but cryptocurrency can also a good alternative for payment system which is very convenient to use.

[carriebee]

This is true as of now since cryptocurrency is not yet fully adapted and is volatile in nature, it doesn't fit to be used as the main currency. Time will tell whether people will still be using fiat as a currency in the near future or whether if crypto will replace or if not will be an alternative to fiat. Technology is emerging fast we don't know what possible things might happen in the future.

True, since bitcoin is not yet fully adopted we don't know what will be happen in the future. There are still people doesn't know crypto so fiat is still be use as the main currency. Though crypto has a lot of features that could easy to use but fiat currency cannot be replace that handily.

[awik p]

This is true as of now since cryptocurrency is not yet fully adapted and is volatile in nature, it doesn't fit to be used as the main currency. Time will tell whether people will still be using fiat as a currency in the near future or whether if crypto will replace or if not will be an alternative to fiat. Technology is emerging fast we don't know what possible things might happen in the future.

True, since bitcoin is not yet fully adopted we don't know what will be happen in the future. There are still people doesn't know crypto so fiat is still be use as the main currency. Though crypto has a lot of features that could easy to use but fiat currency cannot be replace that handily.

this is a big authority on the government. no matter how good the system is used, but if the government does not legalize it, I think it will hamper its development. and for now fiat is more dominant because this currency can be controlled by the government

[airdnasxela]

It won't. We are still far from massive adoption. We are just starting. And it's not enough to replace fiat currency. And even if cryptocurrency receive mass adoption, fiat will still remain because of the government. It's what they can control so they wouldn't let fiat to ceased and be replaced by cryptocurrency. Instead of thinking that crypto will replace fiat, I'd rather go for both of them being used in the future. They can co-work together in the economy. But it's still up to the government if they will let crypto be accepted in their country.