Can cryptocurrencies replace fiat currencies

[ninkdwi]

Yes true, if we pay attention, what fiat does can be replaced with crypto even better because it is faster, safer and the transaction fees are cheap. I hope many countries will think about this so they accept crypto.

with a fluctuating nature, it will be very difficult for crypto if it is used as a substitute for fiat. even if many countries adopt crypto and legalize it, fiat will still be the main means of payment and crypto will remain an alternative both now and in the future.
this is certainly not without reason referring to the volatile system that exists in crypto, it will be very difficult for us to regulate the price because by the nature of crypto it is difficult to guess other than that a transition like this at least needs to be thought about carefully because the majority of people today are still many. who likes fiat and it will be very difficult to change this habit

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[kapalmabur]

I don't think that cryptocurrency will possibly replace fiat currency, there are so many things that cryptocurrency needs to change before it replaces fiat currency. The transaction fee is one of the things that makes it not good to replace fiat currency, as cryptocurrency has so many fees unlike fiat currency. The time it takes before the transaction has been completed as well is another reason.

The security factor is a basic thing that must be fixed, although the private key looks very safe with 52 characters but the fact is that almost every day we hear cases of wallets being hacked, I'm afraid if it becomes fiat the balance will be zero because the wallet is hacked.

What you say is true and we don't need to cover up that cryptocurrency wallets are still not completely secure,
whether it's the negligence of the user or not, this is certainly an important issue so that security can be improved again,
and I'm not sure cryptocurrency can replace fiat currency

[MKings]

Cryptocurrency is unstable. If you use cryptocurrency as work compensation, you can accept payment of 1,000 in the first month, 2,000 in the second month, and 500 in the third month. Do you pay 5000 for the fourth month? (Although it is a bit exaggerated, the price of cryptocurrency fluctuates up and down)
The government will not accept a currency that cannot be controlled as legal tender.
When the price of encrypted currency stabilizes in the future, it may develop into legal currency, but it is impossible to achieve it at present.

[Melody kdl]

I personally think that cryptocurrency will not replace currency.
The most important basis of the legal currency we currently use is stability, while Bitcoin has no value stability. Only stability can be widely recognized. Once unstable, it will inevitably cause people to panic. From this perspective, it is difficult to replace legal currency.
In addition, the circulation of Bitcoin is 21 million, and there will be no additional issuance after the issuance. If the world widely recognizes Bitcoin and uses Bitcoin as legal currency, then there will be more and more consensus that Bitcoin will continue to rise, just like the current gold, as long as the total amount does not increase significantly, then there will be no inflation.
So Bitcoin, to a certain extent, can resist inflation, but it has no meaning for money. Because the value of currency lies in its ability to dynamically adapt to changes in the economy.