What if a change in people's views?

[nimogsm]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

I think we witnessed something similar in 2017 when millions of dollars were poured into projects every day and the market grew like a big bubble and eventually it burst,which subsequently caused a protracted fall in the main assets.So I don’t think this is a good idea.

[The Cryptovator]

It's difficult to forecast the impossible. Don't believe that everyone will exchange their fiat for cryptocurrency. Just consider how cash would be exchanged for cryptocurrency in the absence of a buyer on the opposite side. Consequently, fiat remains in the end. Whether it is in paper or digital forms makes no difference. Nobody is able to stop Fiat. Due to centralized government, it is genuinely important for daily necessities. People of views is they can earn from crypto investment, they aren't wondering to replace fiat with crypto at all.

[NdaMk]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

Crypto currency adoption is fast growing and this already has had some countries government having a rethink about the ban on it, some have begin to lessen the ban and are looking towards regulating it. So yes mass adoption by the people will definitely have an impact on the government decision. But fiat cannot be thrown aside because of crypto. Crypto volatility is one aspect that will make fiat relevant no matter what. Crypto should be seen as an alternative to cryptocurrency

[Sebas.tian]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

I think, it will be difficult for the majority of people to use all their fiat money to purchase crypto or Bitcoin, because anything can happen that will make you to go back to your fiat money to solve the problems immediately but if all your money are in the crypto and Bitcoin investment, it will hard you to get the money when the price of Bitcoin and crypto is low in the market. No matter how strong the inflation may be in the community, people will still stand on their ground never to invest all their money in decentralized currency because decentralized currency is not control by the government.

[Minecache]

It is a what if that cannot happen. You can't expect fiat to be out of existence, we arrnt ready for that just yet and not sure we would be in the next decade or even a century. Where would that keep the physically challenged like disables, those with the difficulty to read and write or compute? Definitely there won't be a world for them no more and you can't say the path to literacy would be easy for everyone. That as much as many other factors such as, networks and what it takes to afford devices that can be used in having access to the crypto space.

There isn't a what if in this and I don't see it being some permanent solution to inflation even. Scarcity has its on effects on a commodity.

I think people that believe bitcoin will replace fiat any moment soon are kind of delusional. I've said it a lot of times, maybe sometime in the future as you said, some 100 years later, bitcoin may replace fiat but even that looks highly unlikely. looking at the history of man and money, there have been different forms of money over time before paper money so I believe the world might get to a stage where people no longer need fiat but from my estimation that can happen in at least 200 years later and it's not still guaranteed that it would be bitcoin that would replace fiat.

Even if the fiat system dies, the government will never choose something they cannot control to replace fiat, that will never happen. As long as governments control the world, bitcoin will never be able to replace fiat unless they figure out how to control and manage bitcoin their way. Bitcoin was created not to replace the fiat money system, but only as an alternative to fiat money.
I guess, it is because of these thoughts of some people that have made the government hostile to bitcoin, don't try to propagate that bitcoin will replace fiat.

[crypticj]

what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

Never gonna happen. I think crypto being as good as it is, won't win over fiat as a traditional way to make payments. To change from fiat to crypto you need to rebuild the entire economic system and it would be very hard to control because you can't print new bitcoins (which is good for inflation) but at the same time you can't print bitcoin even to boost the economy or resupply lost bitcoins.

So I think there are really no point to make bitcoin a new fiat. I think they should just coexist.

[Nrcewker]

what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

If all people start buying the bitcoins, then definitely it will increase the demand for the coin. And as we know, Bitcoins are limited in number, so yes, for that reason, in order to meet demand, the price will go up. Bitcoins follow the principle of supply and demand, and for that reason, the price will go insanely up. The traditional system will definitely get a large impact due to this; the transactions that are currently being done through fiat currency will now have to be replaced with other alternatives, for now let’s say bitcoins, and hence bitcoins won’t be treated as an asset anymore.

[fuguebtc]

what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

Never gonna happen. I think crypto being as good as it is, won't win over fiat as a traditional way to make payments. To change from fiat to crypto you need to rebuild the entire economic system and it would be very hard to control because you can't print new bitcoins (which is good for inflation) but at the same time you can't print bitcoin even to boost the economy or resupply lost bitcoins.

So I think there are really no point to make bitcoin a new fiat. I think they should just coexist.

The government remains the ultimate authority, and fiat represents their power, so even if people do something harmful to the fiat system, they will stop it immediately. Bitcoin or any altcoins will never have a chance to replace fiat money, if one day, fiat collapses, a new monetary system will be created. It will also be a product created by the government, they will never accept something they do not create and have no control over. I believe we are all aware of it, we are just delusional, stubborn, and do not want to believe the truth.

[soramon]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

Inflation is a natural occurrence in the economy that can be limited to some extent by a limited supply money system such as cryptocurrencies such as Bitcoin. If the majority of the population suddenly sold all of their fiat currency and invested it in cryptocurrencies, the traditional finance system, which is based on fiat currency, could be jeopardized. The shift could cause financial markets to panic and cause traditional assets to crash, or it could promote widespread adoption of cryptocurrencies and the development of new financial systems. The outcome would be difficult to predict because it would be dependent on a variety of economic and social factors.

[speedy963]

Let's just put it on a scenario that they will "actually" sell it. Do you think most parts or countries on this world can support that sudden change? I think nope, it's because not everyone has the ability to adapt into modern technologies and use it for their daily means. There are also several factors to consider before jumping into crypto industry:

1. Internet Accessibility
2. Gadgets
3. Financial Literacy (including education regarding crypto)

There're more factors that can be added on this list but these alone proves that it is impossible to change the way how the world works. For us who grew up adopting crypto it is easier for us to adjust in this modern and technical problems, but how about those who are inclined to traditional methods? How about those 60 years or 70 years old people from low income economy? As far as I am concern there're lots of people with the age 50+ and above from 3rd world countries who relies on fiat and are still working to sustain themselves on day to day basis.

So thinking about this scenario actually happening is clearly impossible.

[maydna]

I don't think such a thing is possible, although it is possible. But the government won't let it because they know it could disrupt the economy. After all, the amount of money in circulation will decrease. Inflation can happen anytime, but people will still hold fiat and try to earn more.

And if they are not allowed to use crypto freely, they will still use fiat as usual. But maybe some people will invest their fiat into other things like investing in crypto or gold or something. So obviously, it could disrupt the traditional financial system.

[Husires]

This will not happen unless a real problem such as a world war occurs, and then what people will buy will not be stocks, real estate and Bitcoin, but rather they will return to the basic need, which is food and purchase.

50% of the world's population can be convinced of the importance of investing in Bitcoin, and 20% may do so at best, so the future is still promising before us.
Bitcoin use globally has not reached 1% yet.

[Bitcoinislife09]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

It is going to be difficult for many people to even convince them to invest in cryptocurrency and bitcoin because a lot of people just don't trust cryptocurrency or do not even know what cryptocurrency is. Bitcoin is a great investment to be with and you could easily earn a profit on investing in it but at the same time, there was also a risk in investing because of the volatile market price of the cryptocurrency. You could earn easily but at the same time, you could lose your investment easily. It would be great if all people use bitcoin instead of fiat since it has a different supply and demand but I guess there will be problems if that happened because of the small supply of bitcoin market price of bitcoin is going to increase to the point where people cannot even afford to buy or invest on it.

[Awaklara]

what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

All that could not happen suddenly. To adopt bitcoin like that certainly requires a lot of planning and preparation. Including the readiness of all goods and services providers related to the use of Bitcoin.
Maybe it could be done in one city first to eliminate Fiat and change it to Bitcoin's ownership. After the control within a good city, it might be developed for a country, which eliminates Fiat.
But this is difficult. Because of every relationship with an outside institution, of course, they need Fiat for transactions.
If what is done is for a certain scope, I think the impact on the traditional financial system will also affect the particular scope. For now, it is very difficult to see those who will release Fiat for the use of Bitcoin when everything does not happen thoroughly.

[Mauser]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

Inflation is part of the fiat system that is not going to disappear, people are losing money or money is getting destroyed by accident. That's why there is a natural form inflation that is always going to occur. Also most savers only set money aside because they are getting interest and hope they get more for their money in the future. Without any inflation the interest rates would be much lower and there would be less incentive to save money. I don't think a country could survive if all people would switch to crypto currencies at the same time. The government would like intervene and stop the capital outflow.

[MoonOfLife]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

But I want to ask you one question, who would be willing to sell all their fiat to buy bitcoins? I'm a bitcoin investor but still I wouldn't do that stupid thing. As long as fiat remains the world's primary currency, there's no reason for us to exchange all of our money for bitcoin. Too risky for us and our family.

[JayTrain]

It's true that there will always be some form of inflation, but a limited supply money system can certainly help to reduce one form of inflation. As for the impact of a sudden shift from fiat to crypto, it could potentially have a significant impact on the traditional finance system. It could lead to a loss of faith in fiat currencies, and traditional financial institutions could suffer if they do not adapt to the changing landscape. However, it's also important to note that such a shift is unlikely to happen overnight and would likely take time to play out.

[carlfebz2]

there will always have some sort of inflation
the push pull for sure
but that is dependent on many variables etc, at least it is possible to get rid of one form of\ inflation if the entire market place was based on a money system that had a limited supply
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

But I want to ask you one question, who would be willing to sell all their fiat to buy bitcoins? I'm a bitcoin investor but still I wouldn't do that stupid thing. As long as fiat remains the world's primary currency, there's no reason for us to exchange all of our money for bitcoin. Too risky for us and our family.

You are right and talking about being realistic then people sometimes do already go into that certain point on which they are really trying out to claim up things which arent really that realistic at all.

Its true that fiat would really be staying as long there would be government would really be the top of the chain.We might really be able to see some other options but we know that fiat would still remain.

At least we do really have some other options for us to deal with but dont make yourself believe into something which cant really be that possible.
Yes, we could really be having the freedom but its better to be having always that realistic approach.

[serjent05]

what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

Obviously Bitcoin price will surge if majority of the population exhange their fiat into cryptocurrency like Bitcoin.  Automatically the traditional finance system will be disrupted because all of a sudden the financial institution's influence become weak.  Majority of merchants will accept Bitcoin to cater people who uses Bitcoin and will also make the government to implement regulatory law and even ban cryptocurrency to shift the financial authority back to financial institution.

I believe it will be economic chaos since there will be a war in the financial sector between Bitcoin and centralized financial authority.  Mostly many people will lose money in this event once' the government banned Bitcoin.

[Bananington]

what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?

If they are selling the fiat, it means someone is buying. If everyone sold all their fiat like you have imagined, it will lead to scarcity and lowered circulation of fiat that will make it more valuable. People are bound to experience some form of difficulties because no matter how we see it, bitcoins cannot be used in the purchase of everything. There are some things that are really cheap and it will be senseless paying with cryptocurrency, so it will really disrupt the way things are, and also because you have described this move in your imagination to be very sudden. Sudden changes always have effects.