Crypto will rival or replace fiat in 10 years?

[Silberman]

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.

I agree that this is the most likely scenario, revolutions take a lot more time than what most people think, while it is possible that at some point in the future bitcoin and other decentralized cryptocurrencies dominate completely the market of money this is not going to be something that happens soon, bitcoin is going to coexist with the current system for a very long time, however I do not really have a problem with that as long as I can use my bitcoin free of interference to buy goods and services I want, so at that point I will not care what other people use and they can use whatever option that suits their tastes.

[milewilda]

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.

Both would exist for sure and i would rather believe that crypto would be gone instead of fiat and as said on where government wont really allow things that are out of their control which simply means that fiat would
remain no matter what and being optimistic about crypto isnt bad but considering about replacing fiat is only happening in our dreams and not in reality.There would be lots of things to be debated first
and your main enemy would be the government itself.Would you stood a chance? not even 0%.

[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.

Both would exist for sure and i would rather believe that crypto would be gone instead of fiat and as said on where government wont really allow things that are out of their control which simply means that fiat would
remain no matter what and being optimistic about crypto isnt bad but considering about replacing fiat is only happening in our dreams and not in reality.There would be lots of things to be debated first
and your main enemy would be the government itself.Would you stood a chance? not even 0%.

Hopefully, crypto will not be gone for a long time, even if the government does not like crypto. I will not think that crypto will replace fiat because as long as the country still has a government that rules the country and has its own currency and controls everything, fiat will still exist. Maybe crypto will be on the grey side with or without approvals from the government but people can still use fiat in many ways, especially if the internet is still available in their country. We can not go against our government, but if the people do not trust the government and want a change for their country, people can defeat the country to have a new government. We know how strong the citizen when they all join together in one action.

[Ngemmeng]

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.

yes in the future crypto users will increase sharply and both can coexist. but of course they both have different purposes. a person keeps fiat to buy something he wants, whereas keeps bitcoins for investment. both have different roles and functions so they can coexist without having to knock each other down.

[Abiky]

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?

Crypto will never replace Fiat because it's unstable, decentralized, and somewhat-limited. I've said this many times already. Banks won't give up Fiat especially when governments continue to patronize them. The whole world moves around Fiat, making crypto only an alternative for those seeking into true financial freedom. Blockchain tech will only force banks to phase out paper money in exchange for a new digital Fiat system. CBDCs will allow them to still be relevant even with decentralized cryptocurrencies in play.

A huge advantage Fiat has over crypto is stability. You'll always know 1 USD = 1 USD no matter what. The same cannot be said about Bitcoin and other cryptocurrencies on the market. For this and many other reasons, I don't see crypto replacing Fiat anytime soon. People want stability and convenience, so they'll choose Fiat over crypto anytime. I'm not being pessimistic here, just saying the facts. Maybe someday if crypto becomes more mainstream, it'll be able to "beat" Fiat. Regardless if crypto replaces Fiat or not, it'll last a lifetime thanks to its decentralized and censorship-resistant design. Just my opinion

[Kyraishi]

Yes, but I think that you need to distinguish between CBDCs and decentralized, trustless cryptos.

The former is almost 100% going to replace paper fiat for the sake of better tracking, but the government will try to delay the progress of the latter as much as they can.

70% seems a reasonable estimate of the probability of decentralized cryptos acting as a global reserve currency in the next decade though.

[Oilacris]

Yes, but I think that you need to distinguish between CBDCs and decentralized, trustless cryptos.

The former is almost 100% going to replace paper fiat for the sake of better tracking, but the government will try to delay the progress of the latter as much as they can.

70% seems a reasonable estimate of the probability of decentralized cryptos acting as a global reserve currency in the next decade though.

CBDCs would rather have a chance than with truly decentralized crypto coins in the market and just like what others been saying that as long do government exist then this thing couldnt really happen at all.

It is way too impossible for fiat to be replaced even lets say for 20 years to come.There might be some other options or alternatives but it wouldnt really be enough for fiat to be truly be out of the game.

Also, not all people are get used to techy things or do happen online and even with the simplest transactions there are still people whom do prefer cash.

[TimeTeller]

Yes, but I think that you need to distinguish between CBDCs and decentralized, trustless cryptos.

The former is almost 100% going to replace paper fiat for the sake of better tracking, but the government will try to delay the progress of the latter as much as they can.

70% seems a reasonable estimate of the probability of decentralized cryptos acting as a global reserve currency in the next decade though.

CBDCs would rather have a chance than with truly decentralized crypto coins in the market and just like what others been saying that as long do government exist then this thing couldnt really happen at all.

It is way too impossible for fiat to be replaced even lets say for 20 years to come.There might be some other options or alternatives but it wouldnt really be enough for fiat to be truly be out of the game.

Also, not all people are get used to techy things or do happen online and even with the simplest transactions there are still people whom do prefer cash.

As the world is going digital, CBDCs are really one option of the governments to get involved with if they don't want these decentralized cryptocurrencies.
I do agree that CBDCs has higher chance of adoption among governments but it is still fiat-based just converting it to digital form.
So yes, crypto will never replace fiat in the next 10 years to come or maybe in our lifetime.
Crypto adoption may increase but in my opinion, it would be very hard to replace the fiat system.

[Silberman]

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?

Crypto will never replace Fiat because it's unstable, decentralized, and somewhat-limited. I've said this many times already. Banks won't give up Fiat especially when governments continue to patronize them. The whole world moves around Fiat, making crypto only an alternative for those seeking into true financial freedom. Blockchain tech will only force banks to phase out paper money in exchange for a new digital Fiat system. CBDCs will allow them to still be relevant even with decentralized cryptocurrencies in play.

A huge advantage Fiat has over crypto is stability. You'll always know 1 USD = 1 USD no matter what. The same cannot be said about Bitcoin and other cryptocurrencies on the market. For this and many other reasons, I don't see crypto replacing Fiat anytime soon. People want stability and convenience, so they'll choose Fiat over crypto anytime. I'm not being pessimistic here, just saying the facts. Maybe someday if crypto becomes more mainstream, it'll be able to "beat" Fiat. Regardless if crypto replaces Fiat or not, it'll last a lifetime thanks to its decentralized and censorship-resistant design. Just my opinion

You brought two points that while not mentioned much severely limit the potential of this happening, the first one is that people are not as freedom loving as we think, look at how much of their data they share willingly and unwillingly with social media and their phones, something like bitcoin sounds great in theory for a lot of people but at the end they do not want to take responsibility for their lives, and the second is comfort, people do not want to deal with checking if the wallet they installed is the correct one or keeping their computers free of viruses, they want convenience and they are willing to sacrifice all their freedoms in order to get it.

[Oilacris]

Yes, but I think that you need to distinguish between CBDCs and decentralized, trustless cryptos.

The former is almost 100% going to replace paper fiat for the sake of better tracking, but the government will try to delay the progress of the latter as much as they can.

70% seems a reasonable estimate of the probability of decentralized cryptos acting as a global reserve currency in the next decade though.

CBDCs would rather have a chance than with truly decentralized crypto coins in the market and just like what others been saying that as long do government exist then this thing couldnt really happen at all.

It is way too impossible for fiat to be replaced even lets say for 20 years to come.There might be some other options or alternatives but it wouldnt really be enough for fiat to be truly be out of the game.

Also, not all people are get used to techy things or do happen online and even with the simplest transactions there are still people whom do prefer cash.

As the world is going digital, CBDCs are really one option of the governments to get involved with if they don't want these decentralized cryptocurrencies.
I do agree that CBDCs has higher chance of adoption among governments but it is still fiat-based just converting it to digital form.
So yes, crypto will never replace fiat in the next 10 years to come or maybe in our lifetime.
Crypto adoption may increase but in my opinion, it would be very hard to replace the fiat system.

Not really that possible to replace no matter what.Government do exist and as long they are there then it cant really be possibly to happen for a decentralized thing will take over and even lets say for next 20 years

i cant really still see the probabiilities.Its really good to be optimistic but becoming too much on this sense wont really be that realistic anymore basing off on how this world works.

Financial system would stick out to centralized things and cryptocurrency would really just be ending up on being always an option.

[Silberman]

Yes, but I think that you need to distinguish between CBDCs and decentralized, trustless cryptos.

The former is almost 100% going to replace paper fiat for the sake of better tracking, but the government will try to delay the progress of the latter as much as they can.

70% seems a reasonable estimate of the probability of decentralized cryptos acting as a global reserve currency in the next decade though.

Agreed, but this is a very difficult balance game they are going to need to play, and if they fail then things could easily get out of control for them, it is obvious they like the idea of a centralized digital currency and the elimination of cash as they could be able to better extract taxes out of you since they will have complete control of those coins, but decentralized cryptocurrencies are a risk for them since they cause the opposite effect in which they lose control of anyone using it, so while I think they will try to do so at the same time it is not going to be easy for them to be able to pull this off.

[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.

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.

I think both crypto and fiat currencies have something in common, they are both acceptable because of trust to function as a medium of exchange. Fiat currency is believed to have value and is trusted as a medium of exchange because it is issued by the government. Meanwhile, cryptocurrencies, although not issued by the government, are increasingly believed to have value, and as a medium of exchange. Even some countries have long-term plans to use cryptocurrencies as a means of payment as recently implemented by the country of El Salvador.

[Emitdama]

I think both crypto and fiat currencies have something in common, they are both acceptable because of trust to function as a medium of exchange. Fiat currency is believed to have value and is trusted as a medium of exchange because it is issued by the government. Meanwhile, cryptocurrencies, although not issued by the government, are increasingly believed to have value, and as a medium of exchange. Even some countries have long-term plans to use cryptocurrencies as a means of payment as recently implemented by the country of El Salvador.

This is a possibility as both can live together but can't replace each other because there are few difficulties which can happen. First, no economically and politically strong country will allow decentralized currency in their own country because there are many serious problems. Mostly these cryptocurrencies and digital currencies are used for alternative and these never been for fully controlled.

We can see that these could help us, but not a reason to replace everything.
Governments can use this for collecting taxes and like these things, which could be very helpful.

[geegaw]

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.

I think both crypto and fiat currencies have something in common, they are both acceptable because of trust to function as a medium of exchange. Fiat currency is believed to have value and is trusted as a medium of exchange because it is issued by the government. Meanwhile, cryptocurrencies, although not issued by the government, are increasingly believed to have value, and as a medium of exchange. Even some countries have long-term plans to use cryptocurrencies as a means of payment as recently implemented by the country of El Salvador.

Fireflies like EI Salvador will only light up at night while electric lights like fiat will glow both day and night as long as its practicality persists, and for an adversary that can function as infinitely and without as many restrictions as fiat, crypto has very few competitive stages, living together under a dome of peace may be the most optimal thing possible. Centuries have been full of ups and downs but loyalty to fiat remains intact with generations, shape could be a bit better, so the decade of crypto doesn't seem too heavy to put pressure on fiat

[Silberman]

Fiat currencies are simply too convenient for the governments to let go, they are very aware of the enormous amount of power that they are getting out of the current arrangement and they're not going to be willing to part ways with fiat that easily, and I personally believe that it is never going to totally happen, but what it can happen is that bitcoin could force the hand of the government by becoming so powerful that they have no option but to accept the fact that people are going to use it and there is nothing they can do about it.

[carlfebz2]

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.

I think both crypto and fiat currencies have something in common, they are both acceptable because of trust to function as a medium of exchange. Fiat currency is believed to have value and is trusted as a medium of exchange because it is issued by the government. Meanwhile, cryptocurrencies, although not issued by the government, are increasingly believed to have value, and as a medium of exchange. Even some countries have long-term plans to use cryptocurrencies as a means of payment as recently implemented by the country of El Salvador.

They have in common which is actually functioning as a currency which could be used on daily transactions but the difference are notable.

-Centralized vs Decentralized
-Reversible vs Irreversible
-Traced vs Anonymous
-Stable vs Volatility

You would be seeing these key factors then you could really say that it is impossible that crypto could rival fiat and also those other stable coins are automatically considered
as digital fiat due to stabilized price which i dont see it to be considered as a cryptocurrency.

[Kelvinid]

Fiat currencies are simply too convenient for the governments to let go, they are very aware of the enormous amount of power that they are getting out of the current arrangement and they're not going to be willing to part ways with fiat that easily, and I personally believe that it is never going to totally happen, but what it can happen is that bitcoin could force the hand of the government by becoming so powerful that they have no option but to accept the fact that people are going to use it and there is nothing they can do about it.

They might have the reason to let go of fiat but that only happens when they already take control over crypto. However, it was not what we've seen this time and I don't think that it has come, then I believe they will keep fiat for that sake.

Bitcoin had featured not to replace fiat in the future, it was just an option. But people who come in crypto literally not seeing this as a form of currency like fiat but it was a form of investment and this is the reason why this could be hard to replace fiat if that is possible.

I'd looked forward to seeing this could be widely used as a form of currency but with the situation of being so volatile, that something holds for the merchants to accept.

[adzino]

It's not going to happen in 10 years. Maybe after few decades, but not anytime soon. And don't expect a decentralize crypto currency to replace fiat. The government will never let that happen. Probably we will see a centralized government issue crypto currency that will be integrated with the current banking system which might replace the fiat currency. Then again, we don't actually need a centralized crypto currency.  Decentralized crypto currencies even if they don't replace fiat currency, they will be used together concurrently.

[Kasabus]

It's not going to happen in 10 years. Maybe after few decades, but not anytime soon. And don't expect a decentralize crypto currency to replace fiat. The government will never let that happen. Probably we will see a centralized government issue crypto currency that will be integrated with the current banking system which might replace the fiat currency. Then again, we don't actually need a centralized crypto currency.  Decentralized crypto currencies even if they don't replace fiat currency, they will be used together concurrently.

I can also sense that fiat will be replace in the future but definitely not bitcoin or other decentralized cryptocurrency. The government might certainly create their own crypto that has their full control. Although bitcoin can still be used as a medium of exchange in the near future but it will never replace fiat from its throne. But no worries, because i know bitcoin will definitely be a huge investment by that time because of its very expensive price that will surely create huge profits too.

[Ozero]

A strong national currency is one of the manifestations of the state's sovereignty, one of the directions of its state security. Therefore, you should not even dream that cryptocurrency will ever replace fiat. The state will toughly respond to any manifestations of threats to its national currency and quickly eliminate them, and an example of this is the latest prohibition of cryptocurrency in China, only taking into account the fact that cryptocurrency can affect the free circulation of their digitized yuan.