Crypto will rival or replace fiat in 10 years?

[Sanitough]

Bitcoin could indeed come in par in terms of usability with fiat in due time, but to suppose that it could do so in as small a window as 10 years could be ambitious. Marketcap and all-time highs don't necessarily tell that an asset is suddenly becoming rampant across the world. there are certain parameters that you must meet along the way for something as big as what OP is saying to happen. Then again I'm positive that we'll get there at one point along this journey and once we do get there things will go hard for crypto.

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

I think it's possible that the survey will become a reality if crypto is to rival or replace fiat in the next five to ten years. Because in the future there will be changes in the way global finance looks at new businesses with digital assets and how it shapes the financial infrastructure to create future economic growth. In fact, El Salvador made history, being the first country globally to make Bitcoin its official fiat currency. Therefore, it is possible that many other countries will follow in El Salvador's footsteps in the future.

If we are to assume that technology will progress exponentially just like how it is going so far, I think it will at least be possible within our lifetimes, to make such massive claim without proper backing other than the fact that some countries are already doing it could only disappoint us when things go south in the future, so let's take into account everything, even the ones that may sound undesirable for us, to make us prepared for what's about to come. That's basically what I have to say about this. I love crypto as much as the next guy, but sometimes a little bit of realism doesn't hurt.

Well, i guess everyone of us here in the crypto community would to love to end up crypto replacing fiat in the next 10 years. But its more of a day dream. The reality is fiat cannot be dethrone by any cryptocurrency that is not centralized because the government will always protect fiat from all those decentralized currencies that will give threat to fiat. And if ever the government will adopt a crypto not literally to replace fiat but to be a reserved currency, it might be a centralized one wherein they can control it like fiat. I have sense that they will develop their own crypto rather than adopting a decentralized crypto.

[AmoreJaz]

Bitcoin could indeed come in par in terms of usability with fiat in due time, but to suppose that it could do so in as small a window as 10 years could be ambitious. Marketcap and all-time highs don't necessarily tell that an asset is suddenly becoming rampant across the world. there are certain parameters that you must meet along the way for something as big as what OP is saying to happen. Then again I'm positive that we'll get there at one point along this journey and once we do get there things will go hard for crypto.

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

I think it's possible that the survey will become a reality if crypto is to rival or replace fiat in the next five to ten years. Because in the future there will be changes in the way global finance looks at new businesses with digital assets and how it shapes the financial infrastructure to create future economic growth. In fact, El Salvador made history, being the first country globally to make Bitcoin its official fiat currency. Therefore, it is possible that many other countries will follow in El Salvador's footsteps in the future.

If we are to assume that technology will progress exponentially just like how it is going so far, I think it will at least be possible within our lifetimes, to make such massive claim without proper backing other than the fact that some countries are already doing it could only disappoint us when things go south in the future, so let's take into account everything, even the ones that may sound undesirable for us, to make us prepared for what's about to come. That's basically what I have to say about this. I love crypto as much as the next guy, but sometimes a little bit of realism doesn't hurt.

maybe not only in 10 years, but even in our lifetime, we won't see crypto replacing fiat. the adoption may grow but replacing fiat is not happening in our generation. just be happy that the adoption is growing but aiming to replace fiat, is i believe too much. i dont know why people are trying to ask this question which for me the answer is very obvious. just because you are in crypto, you feel different with noncrypto users.

[Victorycoin]

If crypto is legal and accepted then I think it will give us many options besides fiat, cannot completely replace fiat. It definitely won't happen. It happens when governments launch their own cryptocurrencies and control them.

Cryptocurrencies launched by a country will still not be able to replace fiat currencies as a whole because fiat currencies have been legal tender for a very long time. In addition if there is a direct transaction I think the use of fiat currency is much more efficient and effective.

Crypto is used internally fiat is not easy to replace but there have already been in some countries where cryptocurrencies have replaced fiat. Especially in venezuela and other emerging countries among others bitcoin is already running alongside fiat as a recognized currency.

[Ararbermas]

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice.. 

[Abiky]

That's right, no government would allow that their own currency will be replaced by a decentralized currency, what is government for if they cannot use their centralized power to govern the state. Crypto is created as an alternative to fiat, it's not created to replace fiat by any means because it will never happen.

You've said it yourself. Crypto will never replace Fiat simply because it's decentralized. Why would governments use something they can't control no matter what? They're better off using Fiat than crypto itself. It was never about replacing Fiat but rather being an alternative financial system anyone can use in times of need. I'd say crypto does its job pretty well, even if it often comes second after Fiat in world dominance. Decentralization is what ultimately matters in order to make crypto stand the test of time. It may have its downsides, but it's still "kicking" after all these years. With how things have been progressing lately, it looks like Fiat and crypto will co-exist for many generations. Just my thoughts

[Rasa nanas]

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice.. 

Cryptocurrencies such as bitcoin are indeed impossible to be a legitimate currency because the price of bitcoin is very volatile and is decentralized. these two reasons are more than enough to prove that bitcoin cannot become a legal currency in the future. there is no other choice because the only option is each country has to create their own cryptocurrency.

[Vaculin]

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice..  

Even waiting for another decade, we aren't able to see huge changes.
I have to stand and think that Bitcoin will remain optional because the majority of establishments had only accepted fiat money. And besides, it was not meant to rival fiat money but just an alternative. If we have to understand that, might have to admit that this gonna be impossible. In fact, people are considering crypto as an investment, not a currency.

I'd hope it is fully legalized as a currency but not I'm hoping that it will replace fiat.

[Finestream]

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice.. 

Even waiting for another decade, we aren't able to see huge changes.
I have to stand and think that Bitcoin will remain optional because the majority of establishments had only accepted fiat money. And besides, it was not meant to rival fiat money but just an alternative. If we have to understand that, might have to admit that this gonna be impossible. In fact, people are considering crypto as an investment, not a currency.

I'd hope it is fully legalized as a currency but not I'm hoping that it will replace fiat.

Bitcoin is only good to co exist with fiat but never to replace it. Besides, the main goal of bitcoin is not to compete with fiat because they can be both useful if we can make them as payment methods, at least users will have multiple choices to select. Although its in the news that more big countries are now accepting bitcoin but it does not mean that fiat will not be used anymore. Of course, the government won't allow that. They may start accepting crypto but fiat will always be their main currency. And it will always be even 10 years from now or beyond.

[el kaka22]

What we need right now in the fiat world is a way to turn it into a bit more blockchain path as well. Not make it a stablecoin or CDBC or whatever it is called. Those are low end discussions that are not really at the core of the problem. Why do people move their money to crypto? I mean if it was only decentralization which is a huge deal for me and what I care about, then why do we own BNB? Owned by CZ? Or Tron? Owned by Justin Sun? Or any other coin that has "owners" basically, I can count at least 100 of them that are famous, let alone thousands that are small.

So, I would say that it is clear for me that it is not doing great, we need a lot more, we need something that is the true reason; fair grounds. It means in fiat world governments and rich people make the rules in an unfair way, and that way rich get richer and poor get poorer. We need a fiat that will be fair grounds, if it goes up then we are all richer, if it goes down then we are all poorer.

[thecodebear]

Crypto, no.
Bitcoin, in some places.

"Crypto" is more about applications networks and their tokens, they aren't money. Bitcoin is money though, and as we've seen in El Salvador it can be adopted at a state level.

I think by the early 2030s there will be multiple, maybe many, smaller countries who either are entirely on a Bitcoin standard or have fiat and Bitcoin side by side.

Worldwide, by that time, anyone even remotely paying attention to what's going on in tech, politics, or money will be at the very least using Bitcoin as their primary savings. In major nations that control their own currency I think you'll be able to spend Bitcoin some places but certainly not everywhere. But probably the major merchants like Amazon and Walmart will have Bitcoin lightning integration in all stores and online.

Fiat will definitely still exist at that point, but it will be less popular and I think saving in cash or using bonds as investments will mostly have been replaced with Bitcoin except for certain things like pensions that are legally required to hold bonds to keep the pension less volatile.

Basically I think there will maybe be a few hundred million people who spend with Bitcoin on a daily basis, and maybe a half billion to a billion people who use bitcoin as their primary savings, and another half billion or so newer people who still just view Bitcoin as an investment rather than their savings or spending money.

By 2040 though, I think using Bitcoin will be as widespread as using credit cards today and bitcoin will be considered the savings account for everyone, saving in fiat will pretty much be dead, but some governments will still demand you use fiat for official things like taxes.

[Lanatsa]

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice.. 

Even waiting for another decade, we aren't able to see huge changes.
I have to stand and think that Bitcoin will remain optional because the majority of establishments had only accepted fiat money. And besides, it was not meant to rival fiat money but just an alternative. If we have to understand that, might have to admit that this gonna be impossible. In fact, people are considering crypto as an investment, not a currency.

I'd hope it is fully legalized as a currency but not I'm hoping that it will replace fiat.

Bitcoin is only good to co exist with fiat but never to replace it. Besides, the main goal of bitcoin is not to compete with fiat because they can be both useful if we can make them as payment methods, at least users will have multiple choices to select. Although its in the news that more big countries are now accepting bitcoin but it does not mean that fiat will not be used anymore. Of course, the government won't allow that. They may start accepting crypto but fiat will always be their main currency. And it will always be even 10 years from now or beyond.

Being that optimistic or believing too much on crypto isn't bad but you shouldn't really come into the point on where you do really believe that fiat could really be replaced with crypto which is totally impossible if you do ask me that's why we should be at least realistic in regards to this.

Never ever consider that it could happen because it would really just frustrate you out if you really hope for something like that to happen.You would really be waiting on something which
is unlikely to happen or simply impossible.

They could both exist though and serving out different markets and of course its good that it do really give out that different purpose.

[mumang siat]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

No one can guarantee that digital currency will function as a substitute for fiat currency, but many people believe that digital currency is a solution as an alternative to offset fiat currency, both have different functions and ways of working, it's just that many people associate with fiat currency to compete, although both can grow simultaneously, then these alternatives can be used in their respective functions, for now there is no strong reference for us to believe it.

[Cafex]

Cryptocurrencies can replace fiat currencies and will replace I believe. But I mean the ones that are going to be developed by governments. And they won't be volatile also I guess. Because governments are already against the volatile cryptocurrencies being the main currency of a country. I wouldn't expect them to do the same thing while they are opposing that kind of coins.

[bitzizzix]

Many people saying it's a future money but the fact that governments is very against in it perhaps even after 10 years crypto will remain the same in my personal opinion . Or some of the country will create their own digital currency like what happened to china because on that way they can control every users unlike bitcoin and other crypto currency wherein very untraceable.. Perhaps that's their last choice.. 

Even waiting for another decade, we aren't able to see huge changes.
I have to stand and think that Bitcoin will remain optional because the majority of establishments had only accepted fiat money. And besides, it was not meant to rival fiat money but just an alternative. If we have to understand that, might have to admit that this gonna be impossible. In fact, people are considering crypto as an investment, not a currency.

I'd hope it is fully legalized as a currency but not I'm hoping that it will replace fiat.

Bitcoin is only good to co exist with fiat but never to replace it. Besides, the main goal of bitcoin is not to compete with fiat because they can be both useful if we can make them as payment methods, at least users will have multiple choices to select. Although its in the news that more big countries are now accepting bitcoin but it does not mean that fiat will not be used anymore. Of course, the government won't allow that. They may start accepting crypto but fiat will always be their main currency. And it will always be even 10 years from now or beyond.

Being that optimistic or believing too much on crypto isn't bad but you shouldn't really come into the point on where you do really believe that fiat could really be replaced with crypto which is totally impossible if you do ask me that's why we should be at least realistic in regards to this.

Never ever consider that it could happen because it would really just frustrate you out if you really hope for something like that to happen.You would really be waiting on something which
is unlikely to happen or simply impossible.

They could both exist though and serving out different markets and of course its good that it do really give out that different purpose.

Crypto and fiat will coexist forever, they are similar but not the same, and behind this basic difference, crypto and fiat currencies have something in common namely that they are both acceptable because trust functions as a real and virtual medium of exchange or payment.
and both will complement each other and will not defeat or eliminate each other, but for me crypto especially bitcoin I prefer to keep it rather than spend it because spending it is tantamount to throwing away profits if there is an increase in the price of bitcoin, so if both are side by side it is better to use fiat to make purchases any.

[STT]

There is no 'replace' argument valid in my mind not because of any specific criticism to crypto but because dollar itself was a peak debt dominance (and politics) to money that I doubt it gets repeated again immediately afterwards.   To have one currency across the entire world is not especially positive from what I see, every region has its own positives and negatives with specifics.
    To say we replace one for the other is to say once again a currency maybe with no local connection should be the most influential in that area which I dont think is often best for those people, not every country has to be using BTC directly every day for it to be a great success.   Crypto I hope will be an increasingly larger part of the picture but I doubt the influence we see with dollar is going to occur again, this past period has followed ww2 and we should hope for more competition and variation.  Some FIAT currencies may actually be backed by trade not debt, we can see all kinds of different currency standards pick up the failure and decline of dollar during its post QE wind down which seems an inevitable progression in the next few decades.

[Oilacris]

There is no 'replace' argument valid in my mind not because of any specific criticism to crypto but because dollar itself was a peak debt dominance (and politics) to money that I doubt it gets repeated again immediately afterwards.   To have one currency across the entire world

Agreed!

Its a bit off or quite irrelevant if we do talk about replacing fiat because this is something impossible to happen because we arent just tending
to have a main network and if that happen then majority of countries will be accumulating Bitcoin as much as they can since they do know that the more possession the move powerful it become.

I cant just picture out on how things should work out if it would becomes mainsteam and also decentralization isnt something
that government do prefer.

[South Park]

76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?

Most of that replacement will be done by digital assets that are issued by the government so if anything things will be even worse as governments will be able to freeze your funds unilaterally for whatever infraction they believe you have committed, however there is hope, bitcoin will still exist during the next decade and I think that by that time it will be way bigger and you will be able to use it in many more places than what you can do right now and as such we have nothing to worry about, however I do not believe bitcoin will replace fiat currencies as governments will never allow this to happen.

[19Nov16]

With the increasing community and active users of cryptocurrencies, I believe that in 10 years we will compete with fiat, banned from many countries cannot stop the performance of cryptocurrencies and I believe more and more countries are choosing to make peace with cryptocurrencies, namely legalizing like El Salvador.

[Abiky]

maybe not only in 10 years, but even in our lifetime, we won't see crypto replacing fiat. the adoption may grow but replacing fiat is not happening in our generation. just be happy that the adoption is growing but aiming to replace fiat, is i believe too much. i dont know why people are trying to ask this question which for me the answer is very obvious. just because you are in crypto, you feel different with noncrypto users.

Not in a lifetime. Crypto is not meant to replace Fiat, especially when it's decentralized and censorship-resistant. It's better off as an alternative than anything else. I seriously doubt governments are going to allow crypto to take over Fiat, when the latter is much easier to manipulate by them. That would mean giving away power to the people, which is something governments don't want to happen. Crypto is working well as an alternative to the current monetary system, so I'd expect it to last for a very long time. What matters above all else is decentralization. Only that way people can use crypto without worrying about governments' interference. As long as it stays decentralized, there should be nothing to worry about. Just my thoughts

[ReiMomo]

There is a lot chance for Crpto is accepted world wide in a decade but I don't think so that crypto will either dominate or replace fiat. Crypto will be seen as like an Asset or if so as Currency, It will remain utilized as an Asset or a currency. Those who wish to invest and multiple their amount, can yes will opt crypto.

Can sense a mass adaption and huge change due to crypto in the economy in 10 years I am sure.