When will the role of fiat currency disappear against crypto.

[oHnK]

why bother if they can coexist and complement each other, where if we want bitcoin to replace fiat currency it is just an illusion that is uncertain.

As far as I know, in the monetary system, there is only one legal medium of exchange as an indicator of the world economy.  Currently, fiat as a determinant of a country experiencing good or bad economic conditions.  If coexist then, Bitcoin is not as a medium of exchange but an asset only.  2 If the types of money given are different, the recipient will have difficulty determining the value because both have their respective values.

[topbitcoin]

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.

To be honest, i don't think it can happen. For payment itself, no need to change fiat into crypto but fiat to digital fiat is already enough. Maybe stablecoin i think will remains as an assets when people want to save their fiat into crypto blockchain maybe to use cryptocurrency features which fiat don't have.

[Alanaz]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

even for a longer time it will be very difficult even though crypto is increasingly known to people but on the other hand fiat is still very strong and is still used by most people.
In my country, fiat is still very vital and still dominates compared to crypto.
and i never thought that crypto would replace fiat one day but to coexist it is very possible.

[Kasabus]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

even for a longer time it will be very difficult even though crypto is increasingly known to people but on the other hand fiat is still very strong and is still used by most people.
In my country, fiat is still very vital and still dominates compared to crypto.
and i never thought that crypto would replace fiat one day but to coexist it is very possible.

Exactly. The use of fiat will never be extinct as majority of the people would still prefer to use a currency that is backed by government. Crypto may gain lot of users in the years to come as its adoption has been massive too but in the long run, it cannot replace the role of fiat. Crypto has a big chance to be a currency in the future, but never to replace fiat, but to coexist with it. And when that happens, banks too will start to accept crypto transactions so they can address the needs of bitcoin users, and not just on fiat users alone.

[BlackMan8]

At present, the daily use of fiat currency to pay more than the use of cryptocurrency to pay. People are still accustomed to using legal currency for payment. In the future, the government may issue its own digital currency, and the legal currency will not disappear.

[Alisha-k]

Will the use of fiat ever disappear?
Does it even necessarily have to disappear completely, can't both coexist???
They are so many factors as to why fiat will not be completely wiped.
Some minor purchases can be done using FIAT majority of persons are still in doubt about crypto and no matter how global crypto tend to become, irrespective of the acceptability, they'll still be those person who will not know how to operate it.

[Obito]

At present, the daily use of fiat currency to pay more than the use of cryptocurrency to pay. People are still accustomed to using legal currency for payment. In the future, the government may issue its own digital currency, and the legal currency will not disappear.

If we take a step towards adoption, we will be able to completely eradicate the use of fiat but given that banks and other financial institutions has interests that's going to be gone when fiat is eradicated, to be honest I think it's quite an impossible feat given that the influence of these institutions are so big that trying to fight them head on will be a losing battle. Fiat will be gone if we support politicians and law makers that have principles and can't be bought by money.

[Alanaz]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

even for a longer time it will be very difficult even though crypto is increasingly known to people but on the other hand fiat is still very strong and is still used by most people.
In my country, fiat is still very vital and still dominates compared to crypto.
and i never thought that crypto would replace fiat one day but to coexist it is very possible.

Exactly. The use of fiat will never be extinct as majority of the people would still prefer to use a currency that is backed by government. Crypto may gain lot of users in the years to come as its adoption has been massive too but in the long run, it cannot replace the role of fiat. Crypto has a big chance to be a currency in the future, but never to replace fiat, but to coexist with it. And when that happens, banks too will start to accept crypto transactions so they can address the needs of bitcoin users, and not just on fiat users alone.

because from the start they have been associated with the government, indirectly they will definitely continue to exist and it is true that some people will continue to use this because they believe in the government and on the other hand it is something that is safe to use.
Btc's opportunity is indeed very large to become a currency but it is only as an option and most allow them to coexist not replace.

[Mahanton]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

even for a longer time it will be very difficult even though crypto is increasingly known to people but on the other hand fiat is still very strong and is still used by most people.
In my country, fiat is still very vital and still dominates compared to crypto.
and i never thought that crypto would replace fiat one day but to coexist it is very possible.

Exactly. The use of fiat will never be extinct as majority of the people would still prefer to use a currency that is backed by government. Crypto may gain lot of users in the years to come as its adoption has been massive too but in the long run, it cannot replace the role of fiat. Crypto has a big chance to be a currency in the future, but never to replace fiat, but to coexist with it. And when that happens, banks too will start to accept crypto transactions so they can address the needs of bitcoin users, and not just on fiat users alone.

because from the start they have been associated with the government, indirectly they will definitely continue to exist and it is true that some people will continue to use this because they believe in the government and on the other hand it is something that is safe to use.
Btc's opportunity is indeed very large to become a currency but it is only as an option and most allow them to coexist not replace.

Majority of us would still entrust the government no matter what when it comes to things and we've been used to it and we've been relying on it since from the beginning which it is really hard to believe on that fiat would
just disappear just like that which is really that impossible even though how much crypto will fly with colors in the future but it wont really be enough that it could remove out fiat on existence
We would rather see both things in the future which it would most likely to happen.

[dbc23]

Both are irreplaceable the both serve their own function differently in as much as we all desire to go anonymous and decentralized. At some point centralization is needed to keep track of financial movement across and within boundaries to help fight against money laundering and cyber attackers

[izsara]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

because it's a provision goverment and nothing will change things like this. bitcoin will grow rapidly with massive adoption in various countries but on the other hand fiat will still be strong because there are backups from the government that cannot be separated from it.
not just for now, for next year maybe even forever it will be like that

[n0ne]

Both are irreplaceable the both serve their own function differently in as much as we all desire to go anonymous and decentralized. At some point centralization is needed to keep track of financial movement across and within boundaries to help fight against money laundering and cyber attackers

Both traditional fiat and cryptocurrency have got its own good and bad. It is upto the user how things were used on need with respect to time. Fiat gives the ease of access in all means through its wider acceptance availability. Bitcoin on the other hand have got limited usage access and acceptance as currency. This situation will change, but until then the place is occupied by fiat. In my understanding crypto and fiat will coexist without any form of replacement.

[Alanaz]

because from the start they have been associated with the government, indirectly they will definitely continue to exist and it is true that some people will continue to use this because they believe in the government and on the other hand it is something that is safe to use.
Btc's opportunity is indeed very large to become a currency but it is only as an option and most allow them to coexist not replace.

Majority of us would still entrust the government no matter what when it comes to things and we've been used to it and we've been relying on it since from the beginning which it is really hard to believe on that fiat would
just disappear just like that which is really that impossible even though how much crypto will fly with colors in the future but it wont really be enough that it could remove out fiat on existence
We would rather see both things in the future which it would most likely to happen.

because with the guarantee of a sense of security that they feel over the government, they actually do things like that, until in the end everyone becomes accustomed to it and this behavior continues to happen from generation to generation to this day.
In fact, the decision is certain that even though crypto will continue to grow, beating fiat and making fiat non-existent is a difficult thing and even tends to be impossible to do.
So, in my opinion, when everything is like a hope that never ends, why do you have to insist on eliminating it, just make them both in the same position regardless of choosing which one is the best, it's each other's choice later

[AmoreJaz]

Both are irreplaceable the both serve their own function differently in as much as we all desire to go anonymous and decentralized. At some point centralization is needed to keep track of financial movement across and within boundaries to help fight against money laundering and cyber attackers

Both traditional fiat and cryptocurrency have got its own good and bad. It is upto the user how things were used on need with respect to time. Fiat gives the ease of access in all means through its wider acceptance availability. Bitcoin on the other hand have got limited usage access and acceptance as currency. This situation will change, but until then the place is occupied by fiat. In my understanding crypto and fiat will coexist without any form of replacement.

that is already happening, fiat and crypto co-existing today. no need to aim for replacement of fiat as it may not happen in our lifetime. just be grateful that crypto is expanding its scope in the community. so don't know why people are aiming the fiat to disappear because it won't.
a large population are still relying on fiat and traditional banking system and a lot of them will not touch crypto.

[LUCKMCFLY]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

In the same way I think, because I start from the main premise which is:

1.-Fiat Money = Money, Bitcoin = Money
2.-Bitcoin needs Fiat money to be able to give it a value and under which, it can be negotiated.
3.-Fiat money is needed for many people to understand the value of BTC and thus understand its price.

All these premises are necessary to be able to establish that there is no sense in choosing which is better, both are needed, that each one has advantages that people must take advantage of according to their convenience.

[Rufsilf]

Nope, that ain't going to happen. And as far as the government's concern fiats will exist, they will continue to produce and print local fiats depending on their GDP and because crypto is decentralized they won't allow crypto to be their main currency and subtitute their local money. Example, bitcoin and fiat can exist side by side with different valuec and usage. Mainly bitcoin is a crypto currency to be used as a medium of payment online but now it's widely used as an investment due to it's value. While there are still more people who prefer to use fiats in-order to buy certain things.
But this may change in the coming years as crypto continues to amazed more and more people about its objective.

[Wipeout2097]

Actally I blieve we still have a long ways to go some time recently you ought to consider yourself off-base in that range. It being said I don't accept that cryptocurrency will supplant fiat cash anytime before long. I think that it'll proceed to work in conjunction with cryptocurrency and in the long run yes, cheapen fiat a bit, but I basically do not see it taking over,the future of crypto is shinning and conceivable to run the show universally.

[Ozero]

Actually I don't think that cryptocurrencies will replace fiat money in the nearest future. There are still too many people who don't believe in crypto and don't know how to use them. What is more, government can't control crypto and that's why they don't really want it to develop as this way they will lose control over people finances.

If you look at the development of crypto to date, it can be said that its development is very drastic,
although it is impossible for crypto to replace fiat in the near future,
besides that high fluctuations make it difficult to realize

Cryptocurrency cannot replace fiat. It was created to be an alternative to fiat, not to replace it. Therefore, it must coexist with the national currencies of states. In addition, for this to happen, an appropriate decision by the highest bodies of state power is necessary, as was the case in El Salvador. This is the only case so far, but even here bitcoin did not replace fiat, there was simply no national currency in El Salvador.

[Scotland]

It needs to be accepted as an alternative currency in all countries

it will be sooner or later

[Dunamisx]

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.

Yes to me its likely possible but not in this present dispensation, maybe generations to come which would have been on a long run, then the whole world would have been developed, civilized and digitized, a time where technological advancement would have been achieved everywhere, and the world economy would have attain unism, robots and technological devices will be use in performing  operations like war, house chores, messengers, driving, flying, teaching and agricultural activities while buying and selling are no more in fiat but programmed on robotic devices among others.