Bitcoin and Fiat - this is how I see the future - page 10.

Lexurdania

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Quote from: cynical on June 10, 2018, 03:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Individual transaction is hard to trace. But if trade on merchant, even using bitcoin, I am believe government can collect taxes and trace it. Government must be have good infrastructure to trace every digital transaction including bitcoin. What merchant need to accepting bitcoin as currency is government regulation

TiceOwil

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This is very true. I have always been skeptical about a Bitcoin only future. To me, this is just fantasy. And many people seem to have subscribed to it these days. There are many problems with such thinking. Some have also said that there is no room whatsoever for Bitcoin in the future. But it is not news that many countries have been canvassing for a cashless society. This even came up before the introduction of digital currency. So, digital currencies actually further this cause for the government.

kidsrock

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Quote from: stellgod on August 17, 2018, 02:37:25 AM

Quote from: mkhadazz on August 15, 2018, 12:12:06 AM

yes of course I can see the future of bitcoin and fiat, they will compete tightly and the current fiat conditions if used for transactions are not too safe and comfortable so in the future I believe bitcoin and other digital currencies can be one of the best solutions .

The future would be a mixture of both Bitcoin and fiat I think. None of the systems can replace each others completely and this is because a big part of the world might be using Bitcoin in future, yet some portion will still use fiat as there medium of exchange. Besides, the government even if recognizes Bitcoin will implement regulations on the use of Bitcoin and this will reduce the demand for Bitcoin to some extent so both fiat and cryptocurrency will survive.

maybe bitcoin and fiat can work together in one country and will cooperate to grows the economy of the country. and the citizen can get a new era of finding a new source of income so they can get more money. there are many possibilities for bitcoin to be applied in our daily life and bitcoin can help us to make a better life in the future but of course, to reach this, we need the governments to help for accepting bitcoin and other coins.

stellgod

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Quote from: mkhadazz on August 15, 2018, 12:12:06 AM

yes of course I can see the future of bitcoin and fiat, they will compete tightly and the current fiat conditions if used for transactions are not too safe and comfortable so in the future I believe bitcoin and other digital currencies can be one of the best solutions .

The future would be a mixture of both Bitcoin and fiat I think. None of the systems can replace each others completely and this is because a big part of the world might be using Bitcoin in future, yet some portion will still use fiat as there medium of exchange. Besides, the government even if recognizes Bitcoin will implement regulations on the use of Bitcoin and this will reduce the demand for Bitcoin to some extent so both fiat and cryptocurrency will survive.

andriw

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But even so the government still wants to know who is the sender and recipient when there is a cashless transaction such as that done in a bank, while the nature of the cryptocurrency is anonymous. So there are lots of exchange and blockchain projects that require KYC to be subject to government oversight of suspicion of abuse of cryptocurrencies.

fabrizoc

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Quote from: ValeriegNhf on August 12, 2018, 06:35:13 AM

My friends and I have become more and more fond of bitcoin, because in my country fiat is depreciating every day, and constant inflation will make people hold it as little as possible in the future.

It is good to have a mind set that appreciates the ownership of Bitcoin and earning by investing in it. But the future will not be all about Bitcoin and non about fiat. It will rather be a mix of both because of the unavailability of the facilities to use Bitcoin. Besides, many countries might not recognize crypto for their own good for their economies are not so much developed observing a shift from fiat system to cryptocurrency will be a big change for them which sometimes become difficult to counter.

EvaButler512

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I think each government of each country has different responses on crypto, it hasn't ensured that it will indeed happen, it will be different. Unless there may be mutual consent from all countries that intend to accept crypto, it may be more inclined to a more positive side to advance the country and its citizens to prosperity and more modern.

Bellator

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Quote from: cynical on June 10, 2018, 03:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Fiat currencies is what we currently used,and most commonly used,it will never loss even if cryptocurrency exist..because more people think that fiat currencies were most likely an easy and accessible to used.Government would make way to control cryptocurrency in the near future so lets open mind for any possibilities.

mkhadazz

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yes of course I can see the future of bitcoin and fiat, they will compete tightly and the current fiat conditions if used for transactions are not too safe and comfortable so in the future I believe bitcoin and other digital currencies can be one of the best solutions .

jiryuksan

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Quote from: jayyen on August 03, 2018, 08:28:19 PM

Yes you are nor far from right because the change is fast approaching all over the world at a threatening speed,soon the whole world will come to the knowledge of cryptocurrency due to ease of use ,fast and convenience. This will put cryptocurrency in the forefront of all financial transactions worldwide.

Bitcoin is the future currency that I believe in.

But not for now. Because now people are still easier to use fiat currency. However, for the future, bitcoin can be compared to paper money, especially for large and inter-country transactions because it is easier, faster, and more convenient. If I see the future of bitcoin as more ideal as an investment, because the amount of bitcoin has a maximum limit if the amount has reached the limit, the bitcoin price is predicted to be high and stable. This is only a prediction, the time that will answer.

ValeriegNhf

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My friends and I have become more and more fond of bitcoin, because in my country fiat is depreciating every day, and constant inflation will make people hold it as little as possible in the future.

jayyen

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Yes you are nor far from right because the change is fast approaching all over the world at a threatening speed,soon the whole world will come to the knowledge of cryptocurrency due to ease of use ,fast and convenience. This will put cryptocurrency in the forefront of all financial transactions worldwide.

Blackrain13

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Quote from: cynical on June 10, 2018, 03:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

If government control bitcoin and other decentralized digital assets we cannot trade anonymously because government can trace now your funds and wealth. They will regulate digital currency and make some rules that we need to follow. Like un fiat money,government does not allow everyone to hold a big amount of money just in their house,they need to put in into a bank in where they can trace how much wealth do you owned. If you will not obey government rules then they will accuse you and put some legal punishment. That's why much better to have a decentralized digital currency which free from government andbno single authority controlled it.

Sarastiche

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BITCOIN IS THE CURRENCY OF THE GLOBE

Bitcoin is sure here to cause and initiate the real cashless policy advocated globally, sure we will still have fiat in all countries, but I foresee a state where fiat will complement the existence of BTC and Altcoin, as transaction can be wit ease using Bitcoin compare to fiat

Vektrum

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Quote from: vessing on July 17, 2018, 05:55:22 AM

In the near future, paper money will be replaced. It will quickly supplant them as a means of payment. Possible candidate for this place is bitcoin or another crypto currency.

Crypto currency will never replace fiat, as if someone did not want it. States can not allow the transition to the use of any money that will not be tightly tied to their economy. This is the law of the functioning of money. Without such a binding, the economy of the state will collapse at once. Crypto currency can go in the state only in parallel with the national money of the state.

bohr

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Quote from: jmvzlfyg on July 26, 2018, 03:18:09 AM

Fiat is more stable, which is necessary in business activities, and Bitcoin can only be used as a speculative commodity for the time being.

The instability of bitcoin is there because the market cap of bitcoin is still very low compared to all the money in the world, but as bitcoin becomes bigger then its volatility is slowly reducing as well, once bitcoin reaches full maturity its price movements should be a lot more similar to the movements of fiat currencies, it is going to take some time for that to happen but I am convinced we will see that behavior from bitcoin some day.

samsung001sss

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InternetLIFT.ru

Bitcoin will not be able to replace Fiat system. Bitcoin can only change the digital economy or the economy of non-cash payments. All non-cash transactions with currency, can all go to the crypto-currency economy.

cryptocurrencyguru

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in the coming future, we will see more centralized cryptocurrency like Iran government is launching their own coin and Venezuela also creating

KocaEfe

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Quote from: cynical on June 10, 2018, 03:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Yes, you are absolutely right that non-cash money is fully controlled by the government. In addition, the State does not need to print a lot of money when the Society is completely immersed in debts and loans to banks. In a crypto society, there will be a slightly different system of economy that will not allow society to become poor. Example you Decenturion

JACKSW4G

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Yes, I also recognise that as the most logic and the most possible option how their cryptocurrency will be developing in the future, because replacing the existing system is an utopia for now.

Topic: Bitcoin and Fiat - this is how I see the future - page 10. (Read 3960 times)