The old fiat days are behind us!

[ConnerDalfino]

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

[OgNasty]

Until you can pay your Federal taxes in Bitcoin, fiat can not be behind us.

Bitcoin is impressive technology and I love seeing people use it, but we are very very very far away from it being able to function as a currency in a global capacity, let alone a complete replacement for fiat.

[20kevin20]

I think it's a bad analogy since fiat has never made gold and silver obsolete. Maybe less used as a currency, but definitely not obsolete. I believe fiat will not be obsolete either, it's just going to turn into a digital version of it instead. Digital fiat will be a thing and will be more used than crypto imo. That's how I see it.

[mk4]

I kinda doubt that fiat money will be totally replaced like with your examples. Fiat and bitcoin can coexist, and it will completely be depending on the person what currency he/she prefers to transact with, and which asset(including other assets outside fiat/crypto) he/she prefers to hold his/her wealth in.

[btc-room101]

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

Are you saying GOLD is obsolete? That women no longer want gold? I think you should go to India, and/or China, where most of the world he that have gold is king.

Only in the USA, or the west are people so poor and dumbed down, that they think that paper-money is wealth, or intangible numbers on a computer screen.

Like you said 'transportation' changes, but GOLD is not transportation, it is a store of value.

BITCOIN is not a store of value, in the future, now that CHINA owns BITCOIN, they'll do as they wish, and nobody is going to stay on the train.

FIAT is not new, 2,000 years ago the Chinese dabbled in paper-money and quit, they went back  to gold. In the 1600's the west discovered paper money, and everywhere it was used, the country's were bankrupted, the USA has been bankrupted 3 times since 1776, but they don't teach you this in school.

Yes, today the US-DOLLAR is shit, but gold is not shit. GOLD has never been shit in all human history.

BITCOIN and all crypto are shit, because they are backed by bullshit liars.

The USA-FIAT system the US-DOLLAR is backed by MURDER, refuse to sell Cocaine in dollars, they took out the kingpin, refuse to use US-dollars in Libya, they took out an elected leader, in Iraq Saddam wanted also to sell his oil in Euro's, he was murdered, and his country destroyed. Refuse to sell Opium in US dollars, they destroyed Afghanistan. CIA destroyed IRAN some 50+ years ago over this same topic, they had the gull to not want to sell their oil, for worthless toilet paper ( USD ).

Yes, the USD is shit, because it is backed by assholes and killers, but what is BITCOIN backed by? Criminals, scammers, liars, and fools. This is why USD will continue to beat BITCOIN, because to date nobody in the BITCOIN community has made a 'call to arms'.

For some 100,000 years the "Golden Rule" of the earth has been, "He that have the Gold makes the Rules"; This is why China&Russia  own most of the Gold, and why the USA has gone full-retard.

[jerrison]

crypto is here and it is here to stay. I have imagined what the dark ages were when they used those forms of money with little  or not stress just like crypto has made the world becomes in terms of finance. I am most surprised that those forms of fianancial transactions even existed as i am forced to compare them with the crypto era and the difference is much we say a big thank you to the fiat days while they helped us in the past and now we make room to usher in crypto as the new big deal.

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

[arabspaceship123]

I'm not sharing your confidence. Wall Street, S&P, Dow Jones, FTSE 100, DAX 30, Nikkei 225, Hang Seng Index and powerful banking institutes are big enough to influence government policies. If they begin tightening the noose around cryptocurrency by making it illegal it'll go underground to survive. Bitcoin will suffer in China after they introduce a national cryptocurrency others are going to follow and it's going to affect Bitcoin price.

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

[michellee]

But we need to wait for approvals from the government because they lead the country with their power. Even if there is a good invention for people, the invention will not be used by all people if the government does not agree with that. Only a few people will use it and get the benefits of that, but the other people will not get it.

I hope that fiat and bitcoin can work together and give benefits to them. People will have a new type of investment and have a new payment system while still using fiat to pay something.

[TastyChillySauce00]

gold and any mineral honeslty should just be used for industrial purpose, i don't know why people keep telling as if gold is the most precious thing in the world meanwhile food and other basic needs are definitely more valuable than gold and if people use it for investment just by storing it somewhere else in their warehouse bringing almost no benefit whatsoever but danger then isn't it better to just cryptocurrency instead which has many capability that gold didn't? I mean don't get me wrong, i don't hate gold but it's honestly in my opinion too overvalued and people are worshipping it too much. Just my opinion though, don't take it too seriously.

[crwth]

I admire your enthusiasm for cryptocurrency, which everyone needs to feel if they are coming to the cryptocurrency space. I hope they understand that everything needs improvement and many people are researching alternatives towards money, and now, here it is. I do hope that there would come a time that it's the other way around, that it's BTC that's dictating the amount, but it's unlikely to happen anytime soon. We are well off anyway from the prices years ago, though.

[Ucy]

As long as it's not about discarding the papers or physical currencies. People should still be able to exchange crypto in paper/physical form.

I wouldn't completely discard transportation with horses just incase using machines becomes a problem. It's possible that the horses were specifically made for that purpose, so i think it'd be better to find ways to use them right and achieve similar results found in the man-made alternatives.

[nicecrypto]

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

I dont suppose any body would dispute that but this will not do away with Fiat as still the main means of any countries money. Bitcoin or cryptocurrencies will play their part in this revolutionary digital era that we are in now as a form of digital currency so is the fiat as it will continue to be the main form of currency the government will largely accept.

[Alucard1]

Even when technology evolves and becomes more advanced in the future, fiat will still be there and will never be behind us, Fiat currency is really good for having faster transaction compared to cryptocurrency when buying some stuff because you don't need to pay transaction fees and you don't need to wait for a long time before the completion of the transaction.

Cryptocurrency would only take over fiat currency in terms of transferring money, paying bills, and investing as well, both are good and both have a different purposes to the life of every person.

[Coyster]

So, the future of currency (which is crypto) is here!

Quite a lot of people believe in the Bitcoin network to change the traditional financial system in the long run, the influx of traditional institutions into the network as well as important individual's endorsing Bitcoin is enough to understand that people believe in the Bitcoin network and it's user-population is sporadically increasing.

But even at that, Fiat is still the first choice of currency for people to use, Bitcoin being a currency of control/freedom, and also a hedge when Fiat currencies are devaluing is as of yet not at mainstream level, nor is it set to replace Fiat currencies, as they both are atm coexisting without any hassles.

[milani]

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

I can not agree that times of fiat money we have already passed. Of course there is a really high chances to see someday our world with the usage of contactless way of payments, we have lots of  premises to this. But will it be total absence of fiat money or not it is hard to say nowadays. And in my opinion it hardly will happen. Too many directions where fiat will be still used.

[MinoRaiola]

With every day that central banks print new money, they move currencies closer to death. Until recently, the U.S. Federal Reserve flooded the markets with cheap billions, while the ECB continues to print blithely.

The world's oldest currency, the British pound, was introduced in 1694 and still exists today. At that time, one British pound was equivalent to twelve ounces of silver. Today, however, the value is less than 1/200, or 0.5 percent, of its original value. In other words, if you look at monetary history, you will see that most fiat currencies collapse sooner or later.

[sheenshane]

Actually, gold being a store of value is something that might be changed in the future.  The only benefit they have is that gold has been there since then and the asset is tangible.  But being tangible as a disadvantage as well.  The place where you store it will cost you and possibly Banks are charging a lot to store your gold in their safes.

Comparing it from storing a value to cryptocurrency or digital assets?  It might digital assets are most like to succeed in the future as the convenience and the security is actually more profound and economical.  Not just that, it also has a chance to triple your wealth, the only thing you had to do is to keep it there until the price goes up.

Additionally, how you can compare with the limited supply (Bitcoin) versus the unlimited supply which is gold?

[Vatimins]

     How I wish that this really was already the case. Sad thing though is that it still isn't. No matrer how much the technological advancements fill this world, as long as the people on top who are in charge of the governments, and banks never accepts it, we will still be stuck with fiat or with technologically advanced payment systems that are still governed and manipulated by these people. Just copying the innovation andaking it suit their own interests rather than the interest of the public as a whole.

[Ludmilla_rose1995]

In my view, fiat is not going to be an obsolete currency. And crypto won't replace fiat. I agree with @ 20kevin20's opinion

fiat will evolve to go digital. namely digital money issued by the central bank. digital fiat will still be controlled by the government. and bitcoin will only be an asset like gold.

[Hippocrypto]

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!

Absolutely, that's what makes our world go round these days and everyone is more fascinated with different aspects in cryptocurrency particular with future projections. Digital era is here and I don't think fiat money will still exist 15 years from now. Once everybody will gain definite awareness on crypto, I guess they'll able to find advantages compared with physical currency which fiat.
Technology evolves, that why we need to adopt in order to make things better in life, as well as financial stability.