Crypto will rival or replace fiat in 10 years?

[Dave1]

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?

There is no need to replace fiat to digital crypto currency, I think it is more good when we can choose both fiat or crypto it depends on us on what we want or what we select if we wanted crypto then we used crypto of we wanted fiat then we used fiat isn't that amazing?.

This argument has been going for so long now, of course we love to see crypto being adopted, but no, it won't replace fiat by any sense. And I will echo the sentiments, crypto is more of an alternative to us, so there's no need to replace anyone here. The best thing right now that crypto gives to us, is that we have options and it will give us financial freedom and of course generate profit as well.

[bots1]

Replacement of fiat? No, I don't think that we will see volatile cryptocurrencies replacing fiat currencies ever in the future. Governments of big countries don't think of taking such action now or later. Instead, they are developing their own digital currencies which are nearly guaranteed to replace fiat currencies. And it might happen in 10 years, who knows.

I think cryptocurrencies have a good chance of becoming the world's reserve currency, but it will take a long time at least 10 years. In developing countries, cryptocurrencies especially bitcoin are valuable to avoid censorship. While some countries are developed, cryptocurrencies are attractive as a hedge against the printing of central bank money.

[ipanks]

With the growth of technology in all aspects, there is a possibility of replacing fiat money with digital assets and we may see digital money in the future. Actually, we already have digital money or assets in many things but do not pay attention to that. For example, people now use applications to pay something and in their account, they already have a balance that they send from their bank's account. It shifts usage from fiat money into digital money and it will happen to the assets and with crypto become more popular now, it will change the situation.

[bitgov]

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?

Of course, this is just a speculation that has no factual basis. Some random managers were asked for their private, unsupported views. I am not saying that this will not be the case, but we have to take into account the fact that a bear market will come soon and the situation on the market may change for the coming years. At the moment we see everything very positively as prices are rising. If there is a bear market for the next 3 years, then the possibilities of cryptocurrencies will decrease significantly and the adaptation period may extend even up to 20 years.

[ILuckyGuyI]

I don't think that the volatile cryptocurrencies will be able to replace fiat money in the future. The high volatility will prevent these cryptocurrencies from being made legal tender all over the world. However, Bitcoin doesn't aim to be the global currency. It just needs to stay as the people's money. In the future, Bitcoin will maintain itself as one of the strongest alternatives.

[Kong Hey Pakboy]

I think your title is a typo because it seems that your title and your thread don't match. To be honest, I think that bitcoin isn't a rival but a looming threat to fiat because it has already surpassed bitcoin in value, the only thing that needs to happen is crypto replacing fiat but that's not a good thing to happen.

[rahmatrf331]

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 admit that in the next 10 years 80% of fiat currency will be replaced by digital currency, inevitably the development of digital technology will be more sophisticated in the future and many investors will switch from fiat currency investors to digital currency. many institutional investors are starting to look at the development of blockchain and some investors have started investing in bitcoin.

[Oilacris]

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 admit that in the next 10 years 80% of fiat currency will be replaced by digital currency, inevitably the development of digital technology will be more sophisticated in the future and many investors will switch from fiat currency investors to digital currency. many institutional investors are starting to look at the development of blockchain and some investors have started investing in bitcoin.

Digital currency wouldnt really talks about cryptocurrency but rather it would be still on digital fiat which isnt talking about crypto thats why i dont really see this to be revolutionary.

We are going through cashless society anytime soon as we go ahead in future years to come and fiat or paper ones would be somewhat be replaced but it would still takes time considering on how useful it is in terms of
non online payments or transactions.

Cryptocurrencies is totally different into those centralize digital currencies.

[eaLiTy]

~
Digital currency wouldnt really talks about cryptocurrency but rather it would be still on digital fiat which isnt talking about crypto thats why i dont really see this to be revolutionary.

yes, digital currencies can be anything, from government digital fiat currency in a blockchain, which we should expect in the near future and i am expecting some governments coming out with their version of stable currencies. Whatever be the situation things are really exciting as the possibilities are limitless.

We are going through cashless society anytime soon as we go ahead in future years to come and fiat or paper ones would be somewhat be replaced but it would still takes time considering on how useful it is in terms of
non online payments or transactions.

The market is more over moving to a cashless society with different application allowing us to make transactions but for it to become a complete cashless society it would take decades.

Cryptocurrencies is totally different into those centralize digital currencies.

Everything can be a cryptocurrency if they are secured by cryptography, the only difference will be centralized and decentralized.

[Reid]

"Alternative." It's true for me in 10 years+. 5 years? I doubt it.
It's already happening but it's crawling. Gambling sites are mostly using cryptocurrencies and they have different options from Bitcoin to Litecoin.
It may be slow but as long as it is moving then I think we are going forward instead of backward.
The pandemic was also a big hit for us and it made some people wonder about how they could safely complete their transactions in a different method.
There is growth, we just need to be patient.

[chaser15]

Here we go again with the crypto vs fiat argument.

Online payment or digital payment is not always crypto. Fiat online payment is much faster and quicker compare with crypto. Let's face that. Crypto in 5-10 years will still consider as an investment more than currency.

Why should fiat and crypto be rivals if we can get both advantages and benefits using both?

[xypos]

This has already happened, though.

It's not like people aren't taking BTC seriously right now. That's just a minority of people, and there is a ton of countries and economies that are taking BTC up as a reserve asset or even legal tender currency (e.g. El Salvador).

The future is indeed now, friends.

[Oasisman]

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 root word is "alternative", fiat currency cannot be replaced at least in this current timeline. Fiat might gradually be replaced in the far future, but 5-10 years is such a short period of time for people to innovate a system that cannot be interrupted during online and offline transactions using digital currency.
Fiat has no flaws when doing transactions. Digital currency has a rare occasion of a system failure.
So, again fiat and digital currency will forever co-exist.

[YOSHIE]

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,”

This question has been asked many times in the past 5 years.

The things to note are: Any crypto from now onwards is still traded with fiat money, so it is unlikely that crypto speculation will replace fiat currency, that's the point, except: crypto is traded with crypto, I mean crypto can be used as a currency for buying / selling transactions for daily needs, but for now there is no, although some cities in certain countries provide transactions with Bitcoin, however, the process remains to fiat.

The bottom line: crypto will not be able to replace fiat currency, fiat is legal in every country while Bitcoin is not legal in some countries, that will not happen.

[Spack17]

People really wonder whether cryptocurrencies would replace fiat in the future but I don't honestly. Because I already believe that volatile ones will have no chance against fiat or even the digital currencies developed by governments. Governments wouldn't like to deal with a volatile currency. They would actually make volatile ones their currencies but it is on the condition that they will shape it in the way they want. But this time, for example Bitcoin will lose its identity forever.

[7788bitcoin]

~
I think cryptocurrencies have a good chance of becoming the world's reserve currency, but it will take a long time at least 10 years. In developing countries, cryptocurrencies especially bitcoin are valuable to avoid censorship. While some countries are developed, cryptocurrencies are attractive as a hedge against the printing of central bank money.

This is a speculation i am hearing for many years that Bitcoin could be the reserve currency but now a days we see many countries planning to come out with their digital cryptocurrency and hence i am not sure how these speculation will come to fruition or not, either way it will take a long time to see those massive jump and the price needs to be almost stable to reach that position of any government planning to make Bitcoin a reserve currency.

[asrinur]

I think cryptocurrencies will replace or rival fiat money in trading. Cryptocurrency as a trading tool is still in its infancy, but it seems that the next 10 years will bring new innovations that will make it possible, as will the use of fiat currencies.

[Kittygalore]

I think cryptocurrencies will replace or rival fiat money in trading. Cryptocurrency as a trading tool is still in its infancy, but it seems that the next 10 years will bring new innovations that will make it possible, as will the use of fiat currencies.

It's not rival but replace, no way in hell that fiat rivals cryptocurrencies when it comes.to trading because look at how exponential the growth and possible profit you can get from cryptocurrency compared to fiat. Not to mention that fiat is also affected heavily by inflation.

[RealMalatesta]

The things to note are: Any crypto from now onwards is still traded with fiat money, so it is unlikely that crypto speculation will replace fiat currency, that's the point, except: crypto is traded with crypto, I mean crypto can be used as a currency for buying / selling transactions for daily needs, but for now there is no, although some cities in certain countries provide transactions with Bitcoin, however, the process remains to fiat.

The bottom line: crypto will not be able to replace fiat currency, fiat is legal in every country while Bitcoin is not legal in some countries, that will not happen.

I understand that it is pegged to fiat right now and that is why it is difficult to change it for now. However it is "now" that it is pegged to fiat and I do not think that it will continue forever, eventually there could be a situations that could allow it to be not pegged to dollar all that much.

Plus when you have dollar, but also put bitcoin as legal tender somewhere, you are basically replacing it, and people will not be selling coffee for 10 bucks, they will sell it for 0.0001983 bitcoin. The only problem we are facing right now for something like that is the fact that bitcoin has a huge transaction fee to make something viable. If we could find a way to make it faster and cheaper than I believe it could be something that would turn the world into fully bitcoin world. Not today of course, not for another 10 years, but it has that potential in the future.

[Turbolinea]

I don't think that crypto will be able to replace fiat money in the future. I mean that especially volatile ones have really no chance as long as they maintain this feature. Governments are not leaning towards making a volatile currency their legal tender. I know that El Salvador has made it but it is not a developed country in the end. Instead of cryptos, stable digital currencies will be our future in terms of being our main currencies.