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carlfebz2
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March 29, 2022, 10:15:02 PM |
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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  Would be totally impossible for it to happen because there are things which crypto couldnt able to provide or do on what fiat does all over the ages of its existence and we could not deny it that we do still need fiat. Crypto would really be remaining as an option.It might be flying out with colors in the future but not something that could beat up or erase fiat into its existence.Government does exist and do we really believe that they would really let these things to happen? For sure they wont because centralization would be always be preferred but as citizens we do have at least some option. |
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AjithBtc
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Activity: 1666
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Vave.com - Crypto Casino
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March 29, 2022, 10:28:58 PM |
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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 Bitcoin to be the legal tender has happened with El Salvador. Out of enthusiasm and to give a positive news on adoption El Salvador did a great work. After that more countries have started to legalise and regulate the usage of cryptocurrencies. This keeps the market demand for cryptocurrency growing, but never intend to replace fiat currency. What we see is the very beginning of adoption, and the volatility need to be overcome. This isn't possible all the time. |
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Sir Legend
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March 30, 2022, 09:54:50 AM |
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Crypto users continue to increase and it seems that many countries are giving up and choosing to legalize crypto, in Africa the growth in the number of users and marketcap is more than 2500% in 2021 which makes us more optimistic that in 10 years fiat dominance will soon be replaced with crypto.
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Abiky
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www.Crypto.Games: Multiple coins, multiple games
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April 01, 2022, 01:43:23 AM |
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Would be totally impossible for it to happen because there are things which crypto couldnt able to provide or do on what fiat does all over the ages of its existence and we could not deny it that we do still need fiat.
Crypto would really be remaining as an option.It might be flying out with colors in the future but not something that could beat up or erase fiat into its existence.Government does exist and do we really believe that
they would really let these things to happen? For sure they wont because centralization would be always be preferred but as citizens we do have at least some option.
You've said it yourself. As long as governments exist, Fiat won't be going anywhere. Crypto is great, but it'll only remain as an alternative than a replacement to existing Fiat due to very obvious reasons. Governments aren't willing to surrender their sovereignty over the monetary system in exchange for decentralized cryptocurrencies they can't control or manipulate to their own will. El Salvador did adopt Bitcoin as legal tender, but it still hasn't eliminated the use of Fiat (US Dollar) completely. In 10 years from now, I think everything else will look the same except for the fact that crypto will be much more robust than ever before. If it keeps progressing, then it will be able to live alongside Fiat for generations. Just my thoughts |
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lixer
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April 01, 2022, 08:40:22 PM |
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As long as governments exist, Fiat won't be going anywhere. Crypto is great, but it'll only remain as an alternative than a replacement to existing Fiat due to very obvious reasons. Governments aren't willing to surrender their sovereignty over the monetary system in exchange for decentralized cryptocurrencies they can't control or manipulate to their own will. El Salvador did adopt Bitcoin as legal tender, but it still hasn't eliminated the use of Fiat (US Dollar) completely.
In 10 years from now, I think everything else will look the same except for the fact that crypto will be much more robust than ever before. If it keeps progressing, then it will be able to live alongside Fiat for generations.
Banks you mean, not government because it was the banks that issued fiats but if there will be no banks, the government will have no choice but to use cryptos as a primary currency. I think it's not about the control but it's about the complications if there will be no fiats but there's only cryptos. Even myself I can't imagine the world will be after that. El Salvador only adopted bitcoin as legal tender but is it written in the law that once the country made cryptos a legal tender, fiats are now be eliminated? I guess no because el salvador still have their fiat. In the next 10 years, maybe we have lots of countries that made cryptos as a legal tender. That's still nice. |
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Abiky
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April 06, 2022, 02:31:13 PM |
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Banks you mean, not government because it was the banks that issued fiats but if there will be no banks, the government will have no choice but to use cryptos as a primary currency. I think it's not about the control but it's about the complications if there will be no fiats but there's only cryptos.
Even myself I can't imagine the world will be after that. El Salvador only adopted bitcoin as legal tender but is it written in the law that once the country made cryptos a legal tender, fiats are now be eliminated? I guess no because el salvador still have their fiat. In the next 10 years, maybe we have lots of countries that made cryptos as a legal tender. That's still nice.
As long as banks exist, Fiat won't be going anywhere. It's unlikely governments will ditch Fiat in favor of something they can't control whatsoever. Centralization will always be with us, no matter how much we hate it. I'm fine with that as long as people have a choice from one type of currency from the other. In the future, both crypto and Fiat will co-exist as mediums of exchange anyone can use depending on their needs. Within just 10 years from now, a lot of improvements will happen in the crypto/Blockchain space. I'm pretty sure crypto will be much faster and cheaper to use than ever before. Ultimately, it's all about decentralization. As long as decentralization is preserved, crypto will last a lifetime. Just my opinion  |
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CNMOH
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April 09, 2022, 06:05:17 PM |
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Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.
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noormcs5
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April 09, 2022, 07:14:22 PM |
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Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.
We are not adopting crypto or investing in crypto to make profits. There are many other benefits of crypto over fiat currency. When crypto will be adopted more, then there will be no or very less volatility. Secondly, there will be no more comparison and conversations of fiat and crypto and this will change the overall adoption process. Bitcoin and crypto will mainly be use as medium of exchange as well as the store of value. |
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Quidat
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April 09, 2022, 07:58:43 PM |
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Decentralized cryptos will be the alternative, not fiats rival or event replace it, both has various uses in their respective fields and will goes along each other. After all, who will want to guarantee all their assets in crypto if there is no guarantee that they will make a profit in the future.
As far as I know, crypto is a very volatile business and there is no guarantee of profit in it.
We are not adopting crypto or investing in crypto to make profits. There are many other benefits of crypto over fiat currency. When crypto will be adopted more, then there will be no or very less volatility. Secondly, there will be no more comparison and conversations of fiat and crypto and this will change the overall adoption process. Bitcoin and crypto will mainly be use as medium of exchange as well as the store of value. For utility then there's no doubt that crypto does really get high support with that but we could not deny the fact that most people who do get involved with crypto are the ones who's minding about making profits and lets just accept to that because you could get both profitability and utility at the same time depending on how you would gonna use it. I dont see for fiat to be replaced anytime soon even how crypto would be widely adopted.It would really be just remaining as an option which is something not that surprising. |
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Newlifebtc
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April 11, 2022, 10:16:10 PM |
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Cryptocurrency is not old enough to take over fiat currency because people who have stayed above hundred years used fiat and still fiat is still topping the currency, when you keep fiat and Bitcoin or cryptocurrency in open debate you will know that bitcoin will have small scale of vote because everything about cryptocurrency the end product is fiat, and cryptocurrency have not gain a lot support in society and it is why people don't have to support to cryptocurrency
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EdenHazard
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April 11, 2022, 10:34:07 PM |
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Cryptocurrency is not old enough to take over fiat currency because people who have stayed above hundred years used fiat and still fiat is still topping the currency, when you keep fiat and Bitcoin or cryptocurrency in open debate you will know that bitcoin will have small scale of vote because everything about cryptocurrency the end product is fiat, and cryptocurrency have not gain a lot support in society and it is why people don't have to support to cryptocurrency
Well yeah we have heard something like this back in 2012 i guess .. yet 10 years later now we are going nowhere but using fiat still , that's true it might takes hundred of years to fully shifting fiat into crypto. Not an easy one .. it's not a work of overnight thing. There must be a huge move by a huge institutional such as a world bank or something similar that has a huge influence in monetary. |
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