Please enlighten me

[pooya87]

If your country legalised crypto then you may can use it to buy what you want when a store accepts crypto as one of their payment.

Legalization is not enough for stores to accept cryptocurrency payments. For example a lot of countries have legalized cryptocurrencies as commodities and things like that which means whenever you use them you will have to pay very high taxes which discourages anybody from accepting them.

The only way legalization would lead to adoption is to legalize them as currencies and also remove the tax like what Japan did only about bitcoin where they recognized it as a currency and bitcoin payments has 0 tax for the customer or the store. But trading bitcoin has high tax.

There is also the problem with "cryptocurrencies" (other than bitcoin) that they are very insecure and have lots of problems like lack of immutability (in simple terms: blocks can be reversed any time). Their prices are also extremely manipulated and can dump significantly any time their pumped bubble bursts. This greatly discourages their usage as currencies.

[Kelvinid]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat?

Living in a country or a place where Bitcoin is legally accepted and supported by the government can be possible. But if you were in a place that hinders any crypto transactions, you'd rather keep fiat instead.

Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

Unfortunately, crypto never guarantees you 100% privacy by now and this can lessen the few years coming. Kinda we enjoy non-KYC P2P transactions and exchanges by now but can't ignore any possibility that whether we like it or not, it will come that all exchanges will ask KYC just like how these banks are doing.

[FirmWars]

Here are the reasons why this can't happen, at least at the moment.

• Volatility. You can't realistically make a living by using a currency that does +-5% a week.
• Few accept it. There's a significant adoption done this in the last 5 years, but it's just a tiny fraction when it comes to all the available stores.
• Propaganda. (Climate change, criminal usage, pyramid scheme or bubble etc.)

The volatility part is why we have stable coins around, if my crypto is going Fiat I always swap to USDT before exchanging to Fiat, I only leave a none stable coin as it is if I have no plan of selling for Fiat any time soon.. I don't have a problem living on crypto alone but where are those accepting crypto as means of payment?.

[BlackHatCoiner]

The volatility part is why we have stable coins around

But, stable coins aren't decentralized and censorship-resistant. For example, USDT is owned by Tether; they decide what's the money supply and I'm subjected to their decisions. If they don't approve my transactions they might as well censor them, reverse them, remove them etc. It's even worse than the current monetary system that we're trying to redefine.

[Rengga Jati]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat?

First of all, there is a very basic question to answer:
Is crypto legal as a currency and used as very common oayment method in your country? are there many merchants that accept crypto especially for daily life?
If the answer is No , it means that ylthe answer of your question is also No
We love crypto, but we still cannot stay away from fiat, because we live in a country, under complicated and centralization regulations. 
Just use crypto wisely

[nakamura12]

The only way legalization would lead to adoption is to legalize them as currencies and also remove the tax like what Japan did only about bitcoin where they recognized it as a currency and bitcoin payments has 0 tax for the customer or the store. But trading bitcoin has high tax.

Indeed, a country that adopt Bitcoin would soon legalize Bitcoin and those who own or use cryptocurrency won't need to pay tax. I also wouldn't like it when I have to pay tax when I use crypto like Bitcoin. The question that we should ask is, if ever the government of a country would legalize cryptocurrency as they will know that cryptocurrency is very insecure and problem like lack of immutability as have you have said after they study crypto.

[Rockstarguy]

You cant totally abandon fiat for cryptocurrency, fiat is still the traditional currency even in countries that have accepted bitcoin as currency. You still need fiat to buy little things which will be small to get with cryptocurrency. You may be in need to buy something of 1 - 3$ and I think that is too small for you to start paying with cryptocurrency.

[FatFork]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat?

Depending on your country of residence, you may be able to use a services that allow you to pay bills and invoices with cryptocurrency, such as the one that I use here where I live. I understand that transactions are still done in local fiat currency behind the scenes, but I don't mind that. I don't have to deal with fiat if I don't want to. If you need to make small-value transactions and payments in physical stores, you can use crypto debit cards.

[suzanne5223]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat? Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

It is totally early to consider or have the thought of living by crypto alone without the use of fiat currency. Besides, Satoshi Nakamoto created Bitcoin to serve as an alternative payment system, and the last time I checked if you want to use cryptocurrency as day to day payment you will need to go through KYC unless you want to make use of p2p and there's a limit to the product and services you can get through p2p.

[Yamifoud]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat? Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

It is totally early to consider or have the thought of living by crypto alone without the use of fiat currency. Besides, Satoshi Nakamoto created Bitcoin to serve as an alternative payment system, and the last time I checked if you want to use cryptocurrency as day to day payment you will need to go through KYC unless you want to make use of p2p and there's a limit to the product and services you can get through p2p.

I was still in the hopes that crypto will consider a legal tender worldwide and keep that message from Satoshi had realized. It has been noticed that many want to live with the use of crypto alone, and are thinking that this will save and keep their privacy. However, the situation had changed already, P2P transactions, major exchanges are now asking for KYC, it looks like from time to time crypto had lost its privacy and just be like fiat and these exchanges turn into banks that we need to submit our personal information.

[GeorgeJohn]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat? Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

if you can notice, bitcoin is decentralized currency and the world is not operating by decentralized currency instead centralized currency, so since bitcoin is decentralized and not every supermarket or any other business branch can accept bitcoin as exchange of goods, i vividly believe that fiat which is centralized currency is on higher position than bitcoin which is decentralized..so in summary you can't live without fiat currency and bitcoin can't stand alone in the absent of fiat currency.

[Oceat]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat? Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

It is totally early to consider or have the thought of living by crypto alone without the use of fiat currency. Besides, Satoshi Nakamoto created Bitcoin to serve as an alternative payment system, and the last time I checked if you want to use cryptocurrency as day to day payment you will need to go through KYC unless you want to make use of p2p and there's a limit to the product and services you can get through p2p.

I was still in the hopes that crypto will consider a legal tender worldwide and keep that message from Satoshi had realized. It has been noticed that many want to live with the use of crypto alone, and are thinking that this will save and keep their privacy. However, the situation had changed already, P2P transactions, major exchanges are now asking for KYC, it looks like from time to time crypto had lost its privacy and just be like fiat and these exchanges turn into banks that we need to submit our personal information.

Well, we can't expect regulations would change even if we voice it out as long as you live in a country where there is a government you can't change that fact. But when we are using Bitcoin it's different though and what do you expect is just different if you use a P2P transaction than crypto to fiat which would require an exchange or some third party before you get to trade each other.

[suzanne5223]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat? Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

It is totally early to consider or have the thought of living by crypto alone without the use of fiat currency. Besides, Satoshi Nakamoto created Bitcoin to serve as an alternative payment system, and the last time I checked if you want to use cryptocurrency as day to day payment you will need to go through KYC unless you want to make use of p2p and there's a limit to the product and services you can get through p2p.

I was still in the hopes that crypto will consider a legal tender worldwide [snip]

We both know it is not possible for crypto to be considered legal tender worldwide because all the countries in the world have different political rules, policies, and regulations. If not we won't have seen the Ukraine invasion.

It has been noticed that many want to live with the use of crypto alone,

Understand that those many that want to live with the use of Crypto alone are enthusiasts cause about 3.9% of the world population are the crypto users and this is last year's stats.

and are thinking that this will save and keep their privacy.

Crypto is not privacy from the beginning as you think and getting privacy in crypto requires more effort or making use of a privacy coin.

However, the situation had changed already, P2P transactions, major exchanges are now asking for KYC, it looks like from time to time crypto had lost its privacy and just be like fiat and these exchanges turn into banks that we need to submit our personal information.

Thats the price to pay if we want crypto to be mainstream.

[cryptoperkele]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat? Everyone is talking about privacy and decentralization but Fiat is breaking that boundary always, the moment you want Fiat after having some crypto your privacy is ruined.

Maybe you could live with it if you lived in somewhere where government doesn't care about taxes or what you make and how you invest. If you think privacy is bad with fiat money, how an earth is pseudonymity with open ledgers any better? At some point if ANYONE knows one of your addresses they can track you like in no where else.

[Masplanc]

Don't be faster than your shadow am sure where you are you can't use bitcoin to get everything you want. This shouldn't be a problem to you ,what you need to do with bitcoin is invest in bitcoin that's the most important thing.

[Mpamaegbu]

~snipped~

Gang-related violence, homicide, extortions, kidnaps are all part of daily life in El Salvador. It's one of the places with the highest murder rates in the world, if not the highest.    

Oh, really? Just like @Oluwa-btc, I thought Bitcoin lovers would consider El Salvador as a Bitcoin eldorado. Well, I think I can safely change my mind now too 🤔

Back to the OP, I strongly believe the idea of jettisoning fiat completely for Bitcoin will not be feasible until there's a mechanism for evaluating Bitcoin value in terms of fiat. Until Bitcoin stops getting paired with fiat to ascertain what it's worth, it won't be possible to do. No one can completely live off it.

[firmino10]

fiat been the currency issued by the government will be controversial in relation to crytocurrency that is a decentralize market. and the government wants control over everything even our privacy. and fiat will warrant government to have access to that. crytocurrency is an investment, a long term investment. so is encourage that one also have other sources of income. since it is not yet accepted in some countries.

[GeorgeJohn]

Don't be faster than your shadow am sure where you are you can't use bitcoin to get everything you want. This shouldn't be a problem to you ,what you need to do with bitcoin is invest in bitcoin that's the most important thing.

Bitcoin is not only for investment but majorly people do more of investment with cryptocurrency especially bitcoin than using it for transaction exchange, what the function of bitcoin is applicable to the function fiat currency, if i should ask you, does fist use for only investment or buying and selling? If is not only for investment bitcoin is not use for investment, i think their ratios is some how applicable

[CryptoATM]

I wish its possible but at this point in time it's impossible to live on crypto alone without needing Fiat again, maybe in future when crypto has fully turned into a means of payment in every corner of the earth and stores, businesses, markets are all willing to accept coins and tokens.

[CryptoHeadlineNews]

I've been wondering, is there a way to live by crypto alone and stay away from Fiat?

This can only be possible when you are living in a country where Bitcoin is fully legalised where you can buy even a cup of coffee with the smallest Satoshi. Because apart from that, it's not possible