Bitcoin could not challenge Fiat, and no country would give up its fiat to support Bitcoin, which would be a foolish government.
It is too early to say any such thing as things keep on changing with time and that it cannot happen that we will be able to see fiat leading the world for the whole of the time. The way these crypto currencies are making such a great impact amongst the people gives us enough hope that these crypto currencies are having a strong potential to lead the world and that they will surely do that one day.
Topic: Bitcoin and Fiat - this is how I see the future - page 11. (Read 3984 times)
But I think that the balance of currency and BTC is unlikely. Please note that the government and tax authorities will exercise full control.
Bitcoin could not challenge Fiat, and no country would give up its fiat to support Bitcoin, which would be a foolish government.
It is too early to say any such thing as things keep on changing with time and that it cannot happen that we will be able to see fiat leading the world for the whole of the time. The way these crypto currencies are making such a great impact amongst the people gives us enough hope that these crypto currencies are having a strong potential to lead the world and that they will surely do that one day. Fiat is more stable, which is necessary in business activities, and Bitcoin can only be used as a speculative commodity for the time being.
Bitcoin is not a commodity - it is an object of investment, so its value is not stable, with its help they receive a considerable income.
An interesting point of view. To consider that the decentralized crypto currency is more monitored from the financial point of view by the state than cash. It can not be like this. The main reason why different countries do not want to legalize the crypto currency is precisely the impossibility of controlling cash flows, including controlling the financial side of their citizens' activities.
I think that fiat (paper money) will coexist with the cryptocurrencies. There will be still many people that will never understand the crypto, expecially from poor counties.
Governments in some countries have decided that the risks of virtual currency are too large for the benefits it can provide.
China has banned the bitcoin deal completely in 2017, after which the South Korean government has also announced plans to ban similar transactions. This is a very influential decision because Korea contributes more than 20% of the worldwide bitcoin trade and is the world's third-largest virtual currency market, behind Japan and the United States.
Despite such difficulties, virtual money is likely to become an important tool, especially as blockchain technology is growing stronger. The CME recently announced that it will begin trading in future bitcoin contracts to limit the price volatility of bitcoin.
China has banned the bitcoin deal completely in 2017, after which the South Korean government has also announced plans to ban similar transactions. This is a very influential decision because Korea contributes more than 20% of the worldwide bitcoin trade and is the world's third-largest virtual currency market, behind Japan and the United States.
Despite such difficulties, virtual money is likely to become an important tool, especially as blockchain technology is growing stronger. The CME recently announced that it will begin trading in future bitcoin contracts to limit the price volatility of bitcoin.
Bitcoin is a digital cryptocurrency. Its issuance and transfer are decentralized and are not controlled by one person or an organization, but the entire bitcoin system works perfectly. So everyone trusts Bitcoin, and it won’t be bad.
I like to use credit card, and could get used to live without cash easily 
But most governments are corrupt, I think they would miss cash.
But most governments are corrupt, I think they would miss cash.
At this rate crypto currency are still in development and the future of it have a significant increasing rather than fiat currency. We know crypto currency are future that can make a growth for the global economic still need a time for taking that into fully accepted
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 will always exist. Cryptocurrencies can meet the needs of small scale. For the existence of the state it is necessary that the real sector of the economy. This is only possible with the help of Fiat. People who believe that cryptocurrencies can displace Fiat do not understand the basics of the economy.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 and crypto currencies can indeed run simultaneously because for now in a country that has not received bitcoin as a payment system, bitcoin holders still need fiat currency to be converted into local currency
Fiat is more stable, which is necessary in business activities, and Bitcoin can only be used as a speculative commodity for the time being.
Good thinking.
Using credit cards there will be traces of every payment you have made even with debit cards.
I dont believe about the privacy that was said by the banks. Yes another individual cannot look at your account but when it is the government they will give it.
That is the problem with all the governments. Theyhave the power to take something from us withh banks.
So better go with cash or crypto currency.
Very good.
There is no doubt that banks are abusing the access they got to that information, but bitcoin is not that much better since every single transaction ever made is right there in the blockchain for everyone to see, that is why if you want to hide what you are doing you need to use cash or anonymity coins and that is why the governments are trying to destroy cash and crypto in general. Using credit cards there will be traces of every payment you have made even with debit cards.
I dont believe about the privacy that was said by the banks. Yes another individual cannot look at your account but when it is the government they will give it.
That is the problem with all the governments. Theyhave the power to take something from us withh banks.
So better go with cash or crypto currency.
Very good.
You are right, governments love control, and cryptocurrencies take it out of their hand. Could live without cash however.
Fiat is more stable, which is necessary in business activities, and Bitcoin can only be used as a speculative commodity for the time being.
bitcoin and centralized cryptocurrencies we will see from governments to be more realistic we will see coins like ripple and bitcoin governments try to divert from bitcoin
According to my opinion Bitcoin have bright future as compare to fiat because we all using fiat since centuries and now new generation wants to change and the Bitcoin is best option to use as medium of exchange.Bitcoin is smart and secure way of payments overall the globe.This is the major reason Bitcoin deserve to be global currency.
yes it is possible, supported by technological advances and lifestyles of today's tech-savvy people and depend on gadjet I do not think it will be difficult to realize, but the problem is the government can not fully accept the existence of btc so it is difficult for us to get support facilities, as in fulfilling the needs of life, currently only a few shops that transact using btc directly mostly though we have btc we have to exchange first to the new flat currency we can use as a means of transaction and it is quite inconvenient
Bitcoin transaction is not traceable as well by the government, have you seen a block chain who does the monitoring? So far no, as for the transaction between people it is not an issue because selling a single car, wherein you do it just once or twice between many years is not considered as business but when you sell cars that's another issue
I hope that in the future Bitcoin and Fiat can jointly take over the world, there are many advantages that we all know, we need Bitcoin of course also inseparable from Fiat.
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