Crypto will rival or replace fiat in 10 years?

[noormcs5]

Never allow ?   Even in USSR people still used dollars to trade despite it being totally outlawed, why because it was the most efficient way to trade.   The free market is substantially more powerful then governments even military based dictatorships.  
   I would still think it will take more then 5 years before the majority or even a large amount of trade is carried out via alternative digital assets.  I think generally the path of least resistance is what will occur, most people are poor and hold onto their money only for a few days a week before some other entity has it.    If we all had 1 years worth of wages to take care of (in cash) we'd not be using the junk standard that is FIAT currently but most are transitionary in their use of currency & so to digital must be efficient in that type of immediate use economy in order to take over.

Everythinig takes time for adoption and it is very much clear that it iwll not be easy to completely elinimate the fiat and adopt bitcoin. It will happen but at a slow pace in the start. Governments need to find out how they can control the bitcoin and how they can tax them. If they are unable to find solution for these, they will never allow crypto to become mainstream.
However we do see adoption by few countires and i hope this trend will contiune. I have big hopes that by 2030, almost half of the world governemts will accept bitcoin.

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[peter0425]

I prefer crypto to be a rival to replace fiat, many things can't be done or can replace the function of fiat, even though fiat is fully controlled by the central bank but this makes the value of fiat more stable than crypto which is turbulent and difficult to predict.

I think fiat and crypto will never compete because they have very different functions and roles, crypto can't replace fiat and fiat can't replace crypto. Fiat is used as a means of payment because it has a stable value, while crypto is used by many people as a means of investment because the value of crypto can grow very quickly.

People here tend to believe that in robotic world when machinery and computer will make the world move and even labor are with robotics , bitcoin will be the monetary and fiat will finally gone 

Yes this may come but surely , not in our generation or even in the next to us, meaning this will never be in our world.
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Bitcoin will never replace Fiat , that is what i believe and will always be.

[Abiky]

I would very much like the financial market in the world to be regulated through decentralization. However, I am sure the banks will never allow it. Even governments, anticipating that the power of cryptocurrencies will grow, have already started creating their own cryptocurrencies. I think that in 5-10 years, cryptocurrencies will be more popular, but in fact, they will never replace fiat money.

Exactly. Governments and mainstream banks will never allow decentralized cryptocurrencies to take over the global economy. Their intentions of releasing Central Bank Digital Currencies tells us that they want to stay in power no matter what. Set yourself forward 10 years from now and everything will look likely the same as it is right now. The only difference would be that crypto will be more popular than ever, with greater features and improved network capacity.

Instead of focusing on replacing Fiat, we should focus on making crypto land a better place. All that matters is decentralization and censorship-resistance. As long as this is achieved, people will be able to truly enjoy financial freedom. Just my thoughts

[arufox]

Many people believe that cryptocurrency is the currency of the future, but governments' adamant opposition means that, in my opinion, even in a decade, crypto will be the same. Alternatively, some countries may decide to develop their own digital money, like China did, in order to better manage its citizens, unlike bitcoin and other cryptocurrencies, which are difficult to trace. That might be their final option.

I think it is very unlikely that cryptocurrency will replace currency in the future. Although it is actually possible to happen to make it happen, it takes a long time. There are many challenges for a country that replaces cryptocurrency as the currency of the future.

[stomachgrowls]

Many people believe that cryptocurrency is the currency of the future, but governments' adamant opposition means that, in my opinion, even in a decade, crypto will be the same. Alternatively, some countries may decide to develop their own digital money, like China did, in order to better manage its citizens, unlike bitcoin and other cryptocurrencies, which are difficult to trace. That might be their final option.

I think it is very unlikely that cryptocurrency will replace currency in the future. Although it is actually possible to happen to make it happen, it takes a long time. There are many challenges for a country that replaces cryptocurrency as the currency of the future.

Not unlikely but rather it would be impossible to happen because government would let it to happen on the first place and even if El Salvador had already done such pace but doesnt mean that every

country would definitely do the same thats why this would really be a never ending kind of debate on which lets just deal on what we are currently dealing with.
Its not really that needed to ignore but we shouldnt really be that optimistic on things that is nearly impossible to happen.

[lizarder]

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?

The possibility remains, as long as the development of cryptocurrencies can take over fiat currency, but we must also understand that fiat currency is not a new product in the country's challenges, meaning that it will be difficult to replace, many laws and rules must be changed if fiat currency is eliminated, the world currency regulators will also not remain silent on this big issue, I think it is difficult to change something that is standard in the next 10 years, I think this is still very speculative, even though in fact we see a support base of almost 90% agree.

[lixer]

Never allow ?   Even in USSR people still used dollars to trade despite it being totally outlawed, why because it was the most efficient way to trade.   The free market is substantially more powerful then governments even military based dictatorships.  
   I would still think it will take more then 5 years before the majority or even a large amount of trade is carried out via alternative digital assets.  I think generally the path of least resistance is what will occur, most people are poor and hold onto their money only for a few days a week before some other entity has it.    If we all had 1 years worth of wages to take care of (in cash) we'd not be using the junk standard that is FIAT currently but most are transitionary in their use of currency & so to digital must be efficient in that type of immediate use economy in order to take over.

If not dollar what medium are they going to use? It can make their life more complicated but they prefer to stick on using dollar and disregard its restriction just to continue their business. Free markets would not call for this name if without a reason but they call it free market because people can do whatever they want and they cant be controlled by the governments and other forces.

5 years is a long wait and during that time frame, a lot of changes or happening are already expected but for now it is to early for cryptos to take over as lots or people still do not know how it works. They can take their time and continue using fiat no need to hurry.

[sayaya17]

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?

The possibility remains, as long as the development of cryptocurrencies can take over fiat currency, but we must also understand that fiat currency is not a new product in the country's challenges, meaning that it will be difficult to replace, many laws and rules must be changed if fiat currency is eliminated, the world currency regulators will also not remain silent on this big issue, I think it is difficult to change something that is standard in the next 10 years, I think this is still very speculative, even though in fact we see a support base of almost 90% agree.

In my opinion, it is impossible for fiat to be replaced by crypto, especially if we talk about fiat, it has been used by humans for a very long time.
So it's not that easy to replace fiat, after all, it's easier for the government to control people's finances with fiat. Then there is no reason
the government would allow crypto to replace fiat. Moreover, 10 years in my opinion is too short to be able to make crypto used by all people
in the world. Because we know the majority of people in the world still use fiat for their daily transactions. If crypto is really going to replace fiat,
maybe many countries should have legalized crypto as a payment first. But the reality is that most countries still refuse to use crypto as
an alternative payment.

[eaLiTy]

~
Instead of focusing on replacing Fiat, we should focus on making crypto land a better place. All that matters is decentralization and censorship-resistance. As long as this is achieved, people will be able to truly enjoy financial freedom. Just my thoughts

We already proved that BTCitcoin is the most powerful tool against censorship and resistance from the government. If a government targets you by freezing the funds you move to BTCitcoin and there is nothing they can do if you are using non custodial wallets. Financial freedom can be achieved if it is used for global trade, if you are able to trade on a global scale without borders then you achieve financial freedom.

[JohnBitCo]

Many people believe that cryptocurrency is the currency of the future, but governments' adamant opposition means that, in my opinion, even in a decade, crypto will be the same. Alternatively, some countries may decide to develop their own digital money, like China did, in order to better manage its citizens, unlike bitcoin and other cryptocurrencies, which are difficult to trace. That might be their final option.

I think it is very unlikely that cryptocurrency will replace currency in the future. Although it is actually possible to happen to make it happen, it takes a long time. There are many challenges for a country that replaces cryptocurrency as the currency of the future.

Bitcoin may seems impossible to repalce fiat at this moment but in future this is very much possible. Bitcoin adoption is going fast and by 10 years it is very much possible that bitcoin will replace the fiat.
When everyone will start using bitcoin, the fiat currecnies will fade away automatically.

[doomloop]

The possibility remains, as long as the development of cryptocurrencies can take over fiat currency, but we must also understand that fiat currency is not a new product in the country's challenges, meaning that it will be difficult to replace, many laws and rules must be changed if fiat currency is eliminated, the world currency regulators will also not remain silent on this big issue, I think it is difficult to change something that is standard in the next 10 years, I think this is still very speculative, even though in fact we see a support base of almost 90% agree.

Some cryptos are continuously being developed day after day. They are already stronger, better and faster but why none of them replace fiat up until now? Will that means that fiat is too strong even if fiat looks very basic in our eyes? Fiat is not new but what about cryptos? BTC is not new anymore but then again it cannot do a major threat to fiat.

If there's btc and other cryptos can do, that's only they are being used as a fiat alternative. Nothing more nothing less. The people that says crypto will replace fiats are professionals in the financial field but the question is can they make a law or can they make a change about the financing system? No. They are not that powerful enough.

[retreat]

if we look at the current conditions, that is most likely what will happen, crypto will replace fiat in 10 years ahead or more. paper money is really not environmentally friendly, besides that cryptocurrencies are very controlled and can be monitored, there is no reason to reject crypto in the future. paper money will become antiques

[BITCOIN4X]

Bitcoin may seems impossible to repalce fiat at this moment but in future this is very much possible. Bitcoin adoption is going fast and by 10 years it is very much possible that bitcoin will replace the fiat.
When everyone will start using bitcoin, the fiat currecnies will fade away automatically.

I'm not sure the creation of bitcoin that satoshi did to compete and replace fiat, I'm pretty sure that's not the goal. Even in the next 10 years bitcoin will not be a competitor to fiat nor will it replace it regardless of how well adoption increases.

Bitcoin is a good payment network compared to fiat but cannot completely replace fiat as the government will not legalize it as a legal currency or tender. Bitcoin is a decentralized currency that allows users to get privacy and is the best alternative for those who like good financial privacy.

[Abiky]

We already proved that BTCitcoin is the most powerful tool against censorship and resistance from the government. If a government targets you by freezing the funds you move to BTCitcoin and there is nothing they can do if you are using non custodial wallets. Financial freedom can be achieved if it is used for global trade, if you are able to trade on a global scale without borders then you achieve financial freedom.

Exactly. Bitcoin is all we need to achieve financial freedom. It doesn't need to replace Fiat to achieve its purpose. I'm fine with Bitcoin and other cryptocurrencies being an alternative to the current banking system as long as they work as intended. A lot of things can happen in a decade as the world moves at a very fast pace. In crypto land, 10 years is like a century, so I'm guessing the whole space will be much bigger and stronger than what it is right now. Perhaps, Bitcoin and Ethereum will solve their scalability issues, reaching millions (if not billions) of users worldwide.

As long as decentralization is prioritized, crypto will be able to live alongside Fiat for generations. Just my opinion

[dunfida]

We already proved that BTCitcoin is the most powerful tool against censorship and resistance from the government. If a government targets you by freezing the funds you move to BTCitcoin and there is nothing they can do if you are using non custodial wallets. Financial freedom can be achieved if it is used for global trade, if you are able to trade on a global scale without borders then you achieve financial freedom.

Exactly. Bitcoin is all we need to achieve financial freedom. It doesn't need to replace Fiat to achieve its purpose. I'm fine with Bitcoin and other cryptocurrencies being an alternative to the current banking system as long as they work as intended. A lot of things can happen in a decade as the world moves at a very fast pace. In crypto land, 10 years is like a century, so I'm guessing the whole space will be much bigger and stronger than what it is right now. Perhaps, Bitcoin and Ethereum will solve their scalability issues, reaching millions (if not billions) of users worldwide.

As long as decentralization is prioritized, crypto will be able to live alongside Fiat for generations. Just my opinion

Have these people imagine on a world which is only been having only Bitcoin as a main digital currency? I couldnt even think the probability or chances that fiat could be replaced or would totally

on which people do really being that unrealistic on things that they do have in mind without even thinking that if it could be that possible? Government wouldnt let that thing to happen.
Also, we do need governing bodies which do make out things in organized and arranged manner because decentralization isnt everything.

[macson]

snip

Digital currencies, cryptocurrencies are just an alternative payment system, not will not replace fiat even 100 years from now, IMO. Remember that not all we live in the digital world were just about to adopt as we can see that this could help us but not a reason to replace everything. Maybe this innovation is so helpful to others but it might be helpless to others as well especially for those who are incapable of doing this. Could these old and non-techy people make it? They don't for sure and they remain using fiat as their comfort zone.

digital currency is fiat which is digitized....based on the data i read, in developed countries the majority of people have done transactions with digital currency through digital wallets available in their respective countries, in the future, paper money will definitely be eliminated.  cryptocurrencies and digital currencies will certainly circulate together, but government regulations for both surely very strict.

[Abiky]

Have these people imagine on a world which is only been having only Bitcoin as a main digital currency? I couldnt even think the probability or chances that fiat could be replaced or would totally

on which people do really being that unrealistic on things that they do have in mind without even thinking that if it could be that possible? Government wouldnt let that thing to happen.
Also, we do need governing bodies which do make out things in organized and arranged manner because decentralization isnt everything.

You've said it yourself. Governments will NEVER allow a decentralized cryptocurrency to take over the existing financial system. That's because a crypto-only economy will empower people to have financial freedom (something that would take down governments' autonomy/sovereignty over people's finances). As long as central banks exist, Fiat won't be going anywhere. On the contrary, Fiat currencies will adapt themselves until they're in-par with decentralized cryptocurrencies. We should just "turn the page" and focus on making crypto the best kind of money the world has ever seen. As long as crypto remains a strong alternative to existing Fiat, nothing else matters. Who knows if crypto and Fiat live alongside each other for generations? Just my thoughts

[Fatunad]

Have these people imagine on a world which is only been having only Bitcoin as a main digital currency? I couldnt even think the probability or chances that fiat could be replaced or would totally

on which people do really being that unrealistic on things that they do have in mind without even thinking that if it could be that possible? Government wouldnt let that thing to happen.
Also, we do need governing bodies which do make out things in organized and arranged manner because decentralization isnt everything.

You've said it yourself. Governments will NEVER allow a decentralized cryptocurrency to take over the existing financial system. That's because a crypto-only economy will empower people to have financial freedom (something that would take down governments' autonomy/sovereignty over people's finances). As long as central banks exist, Fiat won't be going anywhere. On the contrary, Fiat currencies will adapt themselves until they're in-par with decentralized cryptocurrencies. We should just "turn the page" and focus on making crypto the best kind of money the world has ever seen. As long as crypto remains a strong alternative to existing Fiat, nothing else matters. Who knows if crypto and Fiat live alongside each other for generations? Just my thoughts

People does really love on going into things which it isnt really possible to happen considering that government do exist and wont allow decentralized things would take over.Come to think that what
if we do really come into that point? Is everything would really be in order if there were no government that do handle out some sectors which is something that needs someone who do lead out?
Decentralization is good but its not everything, we do still need government and fiat of course yet it does have specific function.

[arufox]

In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.

Countries that legalize bitcoin or crypto will certainly make their citizens prefer to transact and store assets with crypto from saving money in banks, of course the influence of fiat will continue to decrease and I think this is a good thing because we are in the era of cryptocurrencies and will soon leave the era of banks.

Of course, if the State legalizes bitcoin or crypto as a medium of exchange, it automatically makes its citizens choose to transact with cryptocurrencies as implemented by the country of El Salvador which has legalized bitcoin as a legal tender. Even El Salvador continues to buy bitcoins for the development of developed cities in their country. El Salvador has also reinvested unrealized profits into various infrastructure development projects.

there may be countries that will follow the path of el salvador, but the majority of governments, i don't think they will. they will stick to their own fiat. but they may allow the co-existence of crypto, which is already happening anyway. but still the main currency will be their fiat, as they have full control of its existence. so for most countries, fiat will still be their main currency in the next 10 years. but we can't deny the fact, that maybe there will be few countries that will make btc their legal tender like el salvador.

I think one aspect that causes most countries not to legalize cryptocurrencies is its fluctuating prices and not being sure of a decentralized cryptocurrency system that is considered to be a threat to their current monetary system. Many countries that until now do not have clear provisions to legalize bitcoin. They are still waiting for the development of bitcoin in the long term to legalize bitcoin-like el Salvador.

[Abiky]

I think one aspect that causes most countries not to legalize cryptocurrencies is its fluctuating prices and not being sure of a decentralized cryptocurrency system that is considered to be a threat to their current monetary system. Many countries that until now do not have clear provisions to legalize bitcoin. They are still waiting for the development of bitcoin in the long term to legalize bitcoin-like el Salvador.

Exactly. The risk of adopting Bitcoin as legal tender is simply too high to bear. It'll be impossible to keep up with the constant fluctuations in price in order to use Bitcoin the same way as cash. For this and many other reasons, I don't think crypto will replace Fiat 10 years from now. With decentralization, people can truly enjoy financial freedom. While crypto may never replace Fiat, it could certainly become a "force to reckon with". 10 years is a lot of time in the crypto/Blockchain space, so I'd expect a lot of achievements by then. Just my thoughts