Crypto will rival or replace fiat in 10 years?

[Sterbens]

Decentralized cryptocurrencies are alternatives not a replacement, but maybe CBDCs will replace fiat over time, and that is not a replacement as they are the same thing, centrally controlled by the government, CBDCs will be more privacy depriving.

+1

Why people been thinking about replacing to each other considering that they do have specific purpose of their existence? Talking about CBDC's then i dont really consider this to be a crypto
but rather in near with digital fiat. Anything that do opposes decentralization wont really fit out on that criteria.

People do really love on rivaling things around without trying to understand off that it isnt really that considerable for it to happen.

I agree, that it is these three kinds of things that often make the crypto market not run as it should, the common goal of being an asset of the future is difficult to achieve. Wouldn't we be better off side by side and walking each other in different areas even though with the same goal of creating a digital era on an unlimited scale and realizing the freedom of every individual in all aspects of ownership.

[arwin100]

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.

For me it looks like option since eventhough how solid the digital currencies by now still we need to see deeper picture of it and there's no way for crypto to reppace fiat since there's no governed bodies will push it to became more legal and suggest to adopt the technology maybe there are some independent government will try to use it but for sure the one most prepared are still fiat since some other oldies doesn't like their money to be seen only they want to touch it physically.

[YOSHIE]

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.

You say you understand what I'm saying, but still talking about, benchmark, maybe, you yourself don't know, when, so if it's not pegged to fiat what to peg someday what horse, camel, imaginary.

Man, the meaning of 'maybe' is broad if it is defined as: who knows, it seems, roughly, supports, strengthens and so on, So which government/country wants to eliminate the fiat currency of its own country and replace Bitcoin as a legal currency for buying and selling transactions for its people, that's your dream, don't like wishful thinking.

I want to ask for you.
1. Can Bitcoin be stable like fiat currency, fixed value like 1, 5, 10 dollars.
2. Can ordinary people who do not know Bitcoin internet be able to buy one cigarette with Bitcoin, how much is the transaction fee for Bitcoin and how much is a cigarette and how much is a bunch of vegetables and how much is the transaction fee for Bitcoin and so on, think healthy and logically.
3. If country A has agreed to replace Bitcoin as the country's fiat, then do countries B, C and Z agree with it.
4. And what about when you need or buy things that are really needed in seconds, hours, the same day, while currently the lights and internet are completely off, what do you do, if you don't use fiat anymore.

You think, don't think Bitcoin is physical like fiat or how and Bitcoin who created the government or @Satoshi, where are Bitcoins minted and with what materials are Bitcoins minted with gold, silver, bronze, tin or what and what if people don't own Bitcoins at all and How do they want to buy them.
Bitcoin while fiat can't be used anymore, can it be exchanged for fish, coconuts or with horses.

Why don't people think logically that Bitcoin can only be traded and buying/selling can only be done with fiat, why not use common sense instead of using a frozen brain.

[StreakW]

I think it's hard for cryptocurrencies to replace fiat, because there is a fundamental difference between crypto and fiat currencies. The most notable is the decentralization of cryptocurrencies, while fiat currencies are centralized or centralized. The centralized system means that the currency is controlled by a certain entity, in this case the fiat currency is controlled by the government or the central bank.

[Johnyz]

I think it's hard for cryptocurrencies to replace fiat, because there is a fundamental difference between crypto and fiat currencies. The most notable is the decentralization of cryptocurrencies, while fiat currencies are centralized or centralized. The centralized system means that the currency is controlled by a certain entity, in this case the fiat currency is controlled by the government or the central bank.

Fiat is an important thing that can’t be replace, they are also adopting the growing market and some fiat money already have their digital options so I don’t think it can be replaced easily. As far as I know China already have digital yuan so what’s the use of crypto if they already have digital money? The government will do everything for fiat to stay, its better for crypto and fiat to work together than to compete with each other.

[Ziskinberg]

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.

[Oilacris]

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.

For me it looks like option since eventhough how solid the digital currencies by now still we need to see deeper picture of it and there's no way for crypto to reppace fiat since there's no governed bodies will push it to became more legal and suggest to adopt the technology maybe there are some independent government will try to use it but for sure the one most prepared are still fiat since some other oldies doesn't like their money to be seen only they want to touch it physically.

Fiat would exist no matter what as long the government do exist then for sure it would stay and crypto would just really be staying up as an option and speaking with CBDC's then they would also remain as long they

do consider out on creating one but wont really be enough to replace fiat or the traditional ones.They might come digital but it would really just served as an option thats why its really a very wrong kind of mindset
or presumptions in mind about replacing it on upcoming 10years.

Better dont mind or dont stress yourself out in regards to this on which one things that are almost impossible to happen.

[tippytoes]

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.

Fiat will remain to be the major means in financial ecosystem. Crypto may just be an alternative, but I also don't see it replacing fiat in the next 10 years. Lucky for us if the adoption is really massive for the next 10 years, but we will remain to be fiat-based. I also don't see crypto replacing fiat in our lifetime. Most people still prefer to deal with traditional banking system.

[Farma]

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.

even, countries that have special regulations will still make crypto as an alternative and will not replace Fiat in a country. however, the regulations that a country has will make Fiat irreplaceable. other than that, all that decentralization will not be embraced by the government, because I feel that it will not make a big change to the income of the state, unless the individuals, or companies that take advantage of it. So, I also think that bitcoin, or any other cryptocurrency will only be an alternative, and not to replace fiat.

[djgtr]

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 crypto will maybe rival fiat but if you say replace maybe that is very impossible. Because as a decentralized digital currency, there is no standard or global bitcoin price at any given period of time. So I think some people will be afraid to use btc for they used fiat for very long time before crypto become well known people used fiat and I believe they will always feel comfortable using fiat than crypto that has an unstable price and value.

[bryant.coleman]

El Salvador has made Bitcoin as the legal tender along with US Dollar. And that means that Bitcoin is already a direct competitor to fiat. And I have no doubt that in the next few years dozens of countries are going to make BTC as their legal tender (especially those who don't have a national currency right now - such as Ecuador and East Timor). But complete substitution is not going to happen anytime soon, I am afraid. Large sections of the society remain opposed to Bitcoin (especially the elderly).

[Hamich124D]

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?

Mate people been speculating  this  crypto takeover since 2015.

These kind of topics always keep showing up every now and then for some reason but i dont think crypto will/can replace the dollar anytime soon ( not that the government will allow such a thing to happen),for one simple reason its way to unstable,and unpractical to use in our every day life.

El Salvador has made Bitcoin as the legal tender along with US Dollar. And that means that Bitcoin is already a direct competitor to fiat.

Yeah and how's that working out for them ?

[BuNga_cute]

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 crypto will maybe rival fiat but if you say replace maybe that is very impossible. Because as a decentralized digital currency, there is no standard or global bitcoin price at any given period of time. So I think some people will be afraid to use btc for they used fiat for very long time before crypto become well known people used fiat and I believe they will always feel comfortable using fiat than crypto that has an unstable price and value.

No need to wait 10 years, even now in some countries that allow crypto as a means of payment, I've seen competition between crypto and fiat.
But as long as there is healthy competition this is not a problem, so it makes people have the choice of using fiat or crypto when making payments.
If crypto is going to replace fiat it's unlikely that it will ever happen, like you said, volatile crypto prices and crypto that cannot be controlled
by the government. Making crypto only as a payment alternative, and even some people's financial transactions will still use fiat. So besides
the government will prevent crypto from replacing fiat, most people are used to using fiat, so it will be difficult to get people to fully use crypto.
The conclusion is that crypto will become a rival to fiat, but it is impossible to replace fiat. But in my opinion, fiat and crypto are the best co-exist,
because both fiat and crypto can complement each other.

[eaLiTy]

El Salvador has made Bitcoin as the legal tender along with US Dollar. And that means that Bitcoin is already a direct competitor to fiat. And I have no doubt that in the next few years dozens of countries are going to make BTC as their legal tender (especially those who don't have a national currency right now - such as Ecuador and East Timor).

If you take a close look, it is not a big surprise that third world countries that are struggling with their economic situation will be thinking to adopt BTCitcoin and that is the situation happened with El Salvador and i am not happy with they way they approached in making it a legal tender as i believe that it will backfire in the long term simply because they rushed everything.

But complete substitution is not going to happen anytime soon, I am afraid. Large sections of the society remain opposed to Bitcoin (especially the elderly).

It is not that the elderly will be against BTCitcoin, you should not force people to use any form of currency. The best you should do is to give them the freedom to use and if that is a free choice to opt for any form of payment then that is the best solution and that is the kind of regulation i want to see rather than enforcing or forcing anyone from the cryptocurrency market.

[Rabi3]

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?

just like you said, digital assets and it doesn't mean in particular bitcoin or any other crypto we know right now, if a digital asset can rival with fiat it has to be almost perfect, we might see some new networks or something totally new, I really do believe it could even take over and fiat would be from the past, let's hope we live to witness something like that.

[STT]

In 2008 around the time Satoshi was apparently taking notice of main markets, they started a process of QE which had never happened before in the west and certainly not with the global reserve currency of the Dollar.    Some did speculate the end of FIAT as we knew it within five years or less after that depreciation of currency and accounting standards.   However QE as an idea and debt in general has been more resilient then we anticipated hence here we are still waiting for the big change from what is obviously a leaky bucket to get something more reliable as a currency in mass exchange.
   The point being I would similarly relate BTC as not likely to take over in 10 years, it will wait in the wings and hope keep improving and being more useful but I dont see a switch over within a decade based on that old '08 story we are still spinning.

[irsykes]

Fiat maybe will be digitalized, but to replaced with crypto i don't think if that easy to happen. Because government will always use fiat as main payment, even if crypto already legalized, will be hard to change payment in all over place, need time for people to learn, adopt and anything else. If me i will just happy crypto as assets and maybe as alternative payment. Will made it more balanced for government, users and another else.

[Rajamuda]

Even though so far crypto has shown its advantages and its popularity is increasing... but I think the possibility is very small to replace Fiat even that is impossible because fiat is very sticky to each country. Crypto would be more appropriate as an alternative for each country with its various advantages, and its prominence will be recognized just like ordinary currency.

[nullama]

I think the future will have more people in crypto, but fiat will continue to co-exist with it.

A bit similar to how now we have cash and credit/debit cards side by side.

I reckon more people will use Bitcoin to pay for goods and services directly though, without converting to fiat first.

We will eventually have it as a standard third payment option: cash, card, crypto.

[michellee]

Fiat maybe will be digitalized, but to replaced with crypto i don't think if that easy to happen. Because government will always use fiat as main payment, even if crypto already legalized, will be hard to change payment in all over place, need time for people to learn, adopt and anything else. If me i will just happy crypto as assets and maybe as alternative payment. Will made it more balanced for government, users and another else.

I also think the same as you because the government does not want to use something they can not control. I will prefer to see crypto and fiat can work together and solve the financial for every people. Even if the government can not control crypto, they can see that people will have another option to pay. I think that will be better for both fiat and crypto as people can also have a new investment for their future.