When will the role of fiat currency disappear against crypto.

[Viscore]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

Probably never, the scenario you are describing is probably the best possible one for bitcoin, and the only way for this to happen is if a massive crisis appeared and people went through incredible suffering and they woke up to the fact that fiat currencies caused the crisis and from that moment on decide to use bitcoin.

But it is very unlikely that things will turn out that way as governments can manipulate the media to spread lies and put the blame elsewhere, so I think that for the foreseeable future we need to get used to the idea that fiat will be around for a long time.

Fiat will always be in the picture no matter what. And even if bitcoin will create massive adoption in some countries, but it will never replace fiat from being a global currency. And if things get worse because of the inflation caused by fiat, i know the government will definitely create their own digital currency that is fully backed by them because as much as they can, they will never let a decentralized currency rule over fiat. Bitcoin might be coexist with fiat in the future but it will never replace fiat for sure.

[1715233354]

1715233354

[1715233354]

1715233354

[freedomgo]

Maybe another century or probably when the humans become extinct, I don't think that we're going to lose our dependence on fiat, Romans and other ancient civilization used a form of fiat currency and they all collapsed as a civilization and here we are still using the same thing.

You are knowledgeable about "paper" money in ancient Rome. Honestly, this is not the first time I am surprised at your erudition. Again, your double logic. So when using fiat, all civilizations must collapse? Well, your knowledge is just at the level of God.
And if on the subject, then I do not think that there is a need for complete eradication of Fiat. Correct recognition of bitcoin by countries, without all sorts of obstacles, would be an ideal solution for the existence of both currencies.

So it will be more likely that fiat exist along with crypto, and this will give more freedom to people whatever currency they want to use although at the end of the day, fiat will always be the center of finance system. If we are dreaming that bitcoin or any kind of crypto would make it either 10 or 20 years from now, though we know no one holds the future, but i prefer to be more realistic and that crypto will only be more good for an investment, making it as a global currency might be too far from possibility.

[izsara]

I think people switch from they do or trying to do a job in crypto is because they want to have additional income. In this situation, while we are still in the pandemic and many people have lost their job, they need money to survive and they see crypto as something and offers a new thing that can help them earn money. So they are trying to invest in crypto or do crypto trading and earn money by coincidentally.

the main reason that is still the strongest reason to this day.
because indeed they have actually reached a dead end in thinking about whether they can survive or not in the midst of this pandemic because most people have lost their livelihood at this time and inevitably have to find other ways to survive.
even though crypto is full of risks but it is better when they are willing to try and learn this properly.

Yes, crypto will still be crypto and fiat will still be fiat. It would be better if crypto could live besides fiat and help people have another way to make money. I think that will be a win-win solution for people and for the government that is still not accepting crypto, they will see the advantages of crypto even if they do not like it because there are El Salvador that already approve and agree crypto to be used in their daily lives.

this is true, but maybe there are several reasons that are still being debated to this day because basically this crypto is decentralized where things like this really clash with fiat which is indeed centralized.
when these two currencies are in one country automatically its citizens will be able to have options in their exchange.
and I'm sure most of these people will use crypto instead of fiat because apart from having no intermediaries in it they can also reduce a little commission from their exchange tax in contrast to fiat which is still quite large compared to crypto.
maybe this reason still confuses the government because indeed when they use crypto all forms of transactions of their citizens will be very difficult to verify and there is no authority for them to regulate this.

[Sterbens]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

Nothing should replace each other and nothing should take precedence over each other. let them continue to develop according to their times and respect people who are still peaceful using fiat money for buying and selling basic food items. We just need to give each other support (even though the government doesn't agree much with crypto). But let that be the case, we must not have views that undermine the market economy. So far the involvement of cryptocurrencies has helped a lot of middle class people (like me) and it is clearly felt. But bankers see this as a threat.

I don't know the opposition and the regime may have 1000 of ways to eliminate crypto, but they can't.

[pinggoki]

They need to coexist right now when the world is heavily dependent on the existence of fiat. It has so much power over everything that to completely strip it away would cause massive societal collapse and utter chaos. They say good things come to those who wait, and that's basically the virtue that cryptocurrencies are letting us know. The road ahead isn't going to get any longer and wider so why don't we make the most out of our steps to ensure that we are on the right way? It's all there is to it really. Sure things might get tedious at times but there's so much potential in this venture you can't just drop it off and leave without regrets.

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

Nothing should replace each other and nothing should take precedence over each other. let them continue to develop according to their times and respect people who are still peaceful using fiat money for buying and selling basic food items. We just need to give each other support (even though the government doesn't agree much with crypto). But let that be the case, we must not have views that undermine the market economy. So far the involvement of cryptocurrencies has helped a lot of middle class people (like me) and it is clearly felt. But bankers see this as a threat.

I don't know the opposition and the regime may have 1000 of ways to eliminate crypto, but they can't.

I still think cryptocurrencies could in the future supersede fiat but just not in a drastic and flamboyant manner. The process will be gradual and people will slowly gravitate towards much convenient options than fiat. People naturally are attracted to progress and technology and seeing that cryptocurrencies are quite the piece of tech themselves, people will inevitably choose it over fiat over the course of time. What happens with USD is still up for debate but with the ever rapidly surmounting value decrease caused by inflation, we might not see dollars in the future the way we see them right now.

[Sterbens]

I still think cryptocurrencies could in the future supersede fiat but just not in a drastic and flamboyant manner. The process will be gradual and people will slowly gravitate towards much convenient options than fiat. People naturally are attracted to progress and technology and seeing that cryptocurrencies are quite the piece of tech themselves, people will inevitably choose it over fiat over the course of time. What happens with USD is still up for debate but with the ever rapidly surmounting value decrease caused by inflation, we might not see dollars in the future the way we see them right now.

Well you are right, over time all will gradually be friendly to digital technology. However, it is possible because of the sophistication and sophistication of technology, it is clear that a person reaches a saturation point and there is no end to technological developments that are increasingly the latest and greatest. A person may decide to give up everything technological and return to a more natural life, and be closer to nature. All have the same 50:50 probability. Because nothing is certain in this world, if everything reaches a saturation point, then returning to the initial stage is the main choice. Having a plan B to survive in the ancient world is an education to survive with nature.

Hopefully the third world war doesn't really happen, because of course we all return to an era where we can interact with each other virtually.

[terrorJR]

instead of thinking about things like that why don't we think about how to maximize these two technologies to make changes to the economy that we have.
I think that would be more useful than thinking about things that would never happen.
crypto and fiat until now are like water and oil because they will never merge with each other, but if we examine further, they are actually like a mutualistic symbiosis that really needs each other.
Although it is not realized by many parties but they have advantages and disadvantages of each.

[albon]

I think that it is difficult for cryptocurrencies to replace fiat currencies because most countries are still fighting and banning Bitcoin and other currencies, Blockchain technology is still far from the minds of these countries and governments, perhaps in the future when these governments understand this mighty technology that we find all our dealings in our daily lives based on cryptocurrencies. 

[rudolfaxl]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

Not going to happen now countries are developing their own stablecoins through CBDC and they will use it as their own managed currency. But personally I don't like about the strict regulation of fiat all of which is within their framework and without my privacy or financial freedom, from the moment I arrived at the BTC cryptocurrency I was feel real ownership of your own property.

[RealMalatesta]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

Must Fiat currencies stop to exist before you know that Bitcoin and other cryptocurrencies are doing well? Fiat currencies will continue to stay, and there will also be crypto currency. None of them has to be stopped come it's just whatever you want to make use of you simply should be going for that.

Yes; there are now USDT, and other stable coins that are everywhere in the market. They’re all tagged to the US dollar, and their prices are stable, but these are cryptocurrencies and they are not U.S. dollar except that they are all tagged to it.

[AicecreaME]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

I don't think the fiat's role will disappear just because crypto is booming. Both fiat and crypto can coexist without having to be constantly pitted from each other. Crypto can thrive without eliminating and replacing the position of the USD. In addition, I don't think that the government will really allow cryptocurrency to dominate since it is a decentralized asset. Although right now, it is very evident in the exchanger and trading platforms that USD is becoming a coin as well. As a matter of fact, USD is the usual conversion of most coins if users were to trade their tokens or sell them. Crypto can be an alternative but will not totally replace the role of currency in each country. The central organization and the government, in general, were to decide whether they would honor the legality and the usage of crypto in their place. Hence, what you are asking is close to impossible since the government does not want something they can't control nor manipulate.

[Argoo]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

Here you need to understand that stablecoins are not cryptocurrencies. This is the same fiat, only digitized, that is, national currencies that work more efficiently. Therefore, fiat will not disappear anywhere, and the states themselves will never allow this. Cryptocurrencies only have the ability to coexist with the currencies of states. El Salvador appears to be more the exception than the logical development of the world of finance. It takes more time to draw conclusions in this direction.

[Dread Pirate Roberts]

and leave fiat currencies such as usd, euro, yuan and others.

will not happen . each country has their own currency. and why would they want to use something that is not stable for their economy? and banking still requires physical money. which is not criteria in crypto . they can exist together in a country and not replace one another.

[marine4u]

What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

That could happen in the future.  I think Only if there is a fully legal accepted cryptocurrency standard in the world.  It will be an established quantifier that will allow 1:1 symmetric stable coin exchanges located on any blockchain platform.  At that point, I think fiat will be slowly erased from everyone's influence and memory in the crypto space.  More importantly, what conditions will the crypto ATM infrastructure or station meet and how long it will take.

[FanEagle]

Fiat is something I do not mind, people consider fiat is the bad thing but the reality is that fiat is not bad at all, not in its own way or just the logic of it. What is bad is the fact that we have a very terrible system in place that makes fiat be used horribly. In fact if the whole world was filled with "kind" people then we would definitely see fiat be used in great way as well.

Imagine a world where every person who has fiat helps the one that doesn't, every poor person lifted, every community improved, the whole world living in a situation where there are no poor people, no homeless person, no starving person, no uneducated person, no sick person that can't go to hospital. It would be filled with very happy people all around the world getting everything they want, BUT that can't happen because humans are greedy in nature, yet the reason is not fiat, it is the people who use fiat that way.

[perfect999]

and leave fiat currencies such as usd, euro, yuan and others.

will not happen . each country has their own currency. and why would they want to use something that is not stable for their economy? and banking still requires physical money. which is not criteria in crypto . they can exist together in a country and not replace one another.

100% it's not going to happen because peoples not understanding ground realities and spreading feud physical money is must for every country, and they are not going to leave this. After the recent crypto boom, investors might believe that the world is going to be having on them to take offer the role as world currency. In my opinion, this not possible at the moment. Fiat money is not going away, it is going to exist with cryptocurrency and digital currency. Around the world, where crypto is not in circulation, fiat is able to use stable currency.

[coupable]

Did the Gold replaced existence of Fiat ever? Though Fiat got regulated way later than gold and precious diamonds then also Fiat was the one who dominated the world since ages now. The very first quality of Fiat is its easy trade and value that it carries.

The FIAT money wasn't designed to replace gold, it's just a representative of value. It's like a way to propve that you own an exact amount of Gold. The comparison with bitcoin isn't that reliable in this case because bitcoin also wasn't designed to replace old forms of money .

Replacing entire Fiat system with crypto currencies is different topic and we already know opinion about it since long. It’s just impossible due to various crypto limitations. (Supply, regulations, the way it works etc. )

It's almost impossible to replace all the money on Earth by bitcoin or by any other currency. Several factors cause the fact that bitcoin a virtual store of value and can co-exist with other forms of money as a permanent store of value .

[Silberman]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

It is better you do not get your hopes too high about this happening in the future, while many of those that came early to the market and adopted bitcoin have had a similar dream the truth is that was not a goal of satoshi, satoshi created bitcoin in order to help you to truly own your money and become your own bank by not relying on a third party to approve your payment, satoshi succeed since you can already do that and the dead of fiat currencies is not really needed.

[2double0]

Crypto is still at a very early stage, because it is still very new to people who know nothing about it and are being scammed easily by masterminds. First, they need to be taught about what it is, how is it used, how is it exchanged, how to keep it secure, how to maintain security through privacy key, etc.

There are many online educators available and even offline through various courses in schools and universities, but people are not getting the right direction to move towards. Before you expect crypto to replace fiat, why not educate yourself and others about it? It will polish your knowledge while sharing it with others.

[Botnake]

Currently, there are many usd-based stablecoins such as, usdt, busd, usdc and maybe many others.  To be honest, I used to think that crypto would completely eliminate the usd's dominance of the world economy but I was wrong, it turns out that usd is now evolving to crypto (stablecoins).  What do you think, whether in the future bitcoin or other crypto can replace the role of currency in each country and leave fiat currencies such as usd, euro, yuan and others.

It is better you do not get your hopes too high about this happening in the future, while many of those that came early to the market and adopted bitcoin have had a similar dream the truth is that was not a goal of satoshi, satoshi created bitcoin in order to help you to truly own your money and become your own bank by not relying on a third party to approve your payment, satoshi succeed since you can already do that and the dead of fiat currencies is not really needed.

If you are still thinking that fiat will be eliminated soon and that crypto will be a global currency, that is still too far from reality. They might coexist in the future, as well as crypto can be integrated in bank's transactions, but crypto will never replace fiat. People might be amaze thinking how bitcoin can be a good currency but when it comes bitcoin as the only legal tender in different countries, big adjustments will definitely arise. So let's just be contented having them both. I guess it will even create a harmonious relation between fiat and crypto and the people will definitely love using them both.