Bitcoin and Fiat - this is how I see the future - page 16.

rainezerr401

member

Activity: 294

Merit: 10

Quote from: JerryJam on June 10, 2018, 05:50:05 AM

Fiat will always exist. It is impossible to imagine an economy without cash. Together with Fiat currency, digital currency is also a full-fledged means of payment. Each of the nos has its own advantages and disadvantages. But together they perform one function. The digital currency supports Fiat.

yes you are right, cryptocurrency might reign even more in the future but fiat will be just in the corner because not every people in the world can manage to earn cryptocurrency so people will be still using fiat in the future.

Dimon888

newbie

Activity: 364

Merit: 0

I believe that the cash turnover on a global scale will be reduced and go into non-cash settlements, and a certain percentage of payments will be in the crypto currency. Over time, it is possible that each state will have its own crypto currency. But then it will already be controlled by the state.

veleten

legendary

Activity: 2016

Merit: 1107

Quote from: Flomo on June 10, 2018, 10:44:11 AM

it may be difficult for the government to track transactions on crypto and control our money, because this is a digital era that is difficult to trace.

the most common misconception
it will be and is MUCH easier to track digital transactions compared to fiat money
cryptocurrencies are PSEUDO anonymous,not anonymous and all of the current developments
aka tightening KYC rules,fighting privacy,new european rules on exchanges and wallets,Japan cracking down on exchanges etc.
https://news.bitcoin.com/japan-penalizes-crypto-exchanges-yakuza-involvement-confirmed/

this is all done to transfer all of your transaction into digital sphere,ousting fiat paper money
making it easier to track,analyse and watch you,switching your life on and off at will,potentially
if you thought Sci-fi fiction about the future societies was just funny stories.think again

wewe123

member

Activity: 322

Merit: 11

🚀🚀 ATHERO.IO 🚀🚀

Bitcoin is soaring high to become future currency surpassing the fiat money, but the thing is bitcoin can mainly be used to places where there are abundant supply of power and no interruption of internet access, but for rural areas with no internet access ,fiat money play vital role in finances because bitcoin is only on line, so I see fiat and bitcoin will go through.

Faeton

member

Activity: 308

Merit: 11

The state is just not interested in using decentralized crypto currency by people, because it is precisely that it is poorly controlled and, moreover, it has great volatility, which has a bad effect on the economy. Therefore, decentralized crypto currency is able to walk in the state only in parallel with national money.
Paper national money the state has learned to control. In the example specified by you, the purchase and sale of a car is made by notary or authorized bodies, which at the time of making a transaction simultaneously deduct a portion of the money and send it to the tax authorities.

shackleford

full member

Activity: 281

Merit: 100

Quote from: cynical on June 10, 2018, 02:50:02 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.

Personally, I do not see how Fiat money will work in parallel with bitcoin and alternative cryptocurrencies. The economic side of cryptocurrencies, in a couple of years will show the world its effectiveness.

p i e c e

full member

Activity: 336

Merit: 100

Quote from: Dimon8 on June 17, 2018, 01:48:59 AM

think paper fiat will very soon come out of circulation. Payment units will be a crypto currency.
The Swiss city of Zug is considered the capital of the crypto industry, in this city the official bitcoin unit. Switzerland has been one of the world's banking centers for decades. It seems that Switzerland will become the world center of crypto currencies.

I do not think that in future, people will not use fiat. I can guess that in 5-7 years almost everybody will deal with the crypto and traditional money.

dongyi17

full member

Activity: 616

Merit: 100

FRX: Ferocious Alpha

Bitcoin and fiat combine... it depends because as we all know this is two different system and some government and banks do not accept bitcoin because it might cause their down fall but can use fiat but still if their agree to do so why not because many are still using fiat and it would be hard to abolish it.

manfredmann

member

Activity: 518

Merit: 21

The government are only after the awareness of people doing cryptocurrency and that is why local exchange which government allow to operate giving them license to do so in a way that the local exchange must agree on KYC. This is only to avoid and prevent those individuals who are doing illegal activities doing transactions using cryptocurrency. So we have to follow so as for the good of the many.

Getcoinsite

sr. member

Activity: 714

Merit: 260

Quote from: cynical on June 10, 2018, 02:50:02 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.

This is a good point talking about why governments going against crypto when they can have a piece of cake from us,the only problem is they dont do rightful manner instead pursuing us to comply on their policies thats been harder to attain.

Im calling those countries that clarify their wantings and do specific actions for the betterment of both parties as they wont gain anything if they continue banning this community

redsun114

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: panfils on June 19, 2018, 01:00:17 PM

Yes, it will help the government to collect taxes properly. It is strange that why some countries still oppose this.

This is the problem some countries are still against Bitcoin and have banned it. This is bad and this needs to be legalized. I hope in future there will be a time when the technology will be accepted and recognized by these countries and this will expand the technology and will enable people to earn easy money. Besides, they will be able to get some other services at low cost which is what all of us need.

Inikoo

member

Activity: 196

Merit: 10

I agree with you, governments want to have control over everything, and would prefer more transparency. I would not mind it anyways, if cash would dissapear, caused less corruption.

ceylan

newbie

Activity: 51

Merit: 0

in my opinion .. fiat will never be removed from countries. because We need it and also bitcoin will never die for sure.. it will stay same as fiat .. and i believe it has a great future

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: joshy23 on June 19, 2018, 10:07:22 AM

Quote from: nikola22 on June 18, 2018, 03:56:27 PM

don't forget that government can trace your exchange cryptocurrency/fiat so you will have to pay taxes. and if you will work with cryptocurrencies only soon or later they will identify you.

Government can do anything while you are inside their jurisdictions, I personally thinks that crypto can go along side with Fiat as soon as many end users will make a good statement using crytpo from their everyday transactions, Fiat will still dominate the payment system while Bitcoin will help to lessen the delayed, keeping g the transaction anonymous but a friendly interface that everyone will enjoy.

That is what I also feel will happen. I am sure government actually knows cryptocurrency has evolved more than they can easily handle and they will be trying everything in their power to regulate it so as to benefit from it, but at the same time without it affecting fiat.

Obviously, we all know there is no way this market will not get a bad name without some lenient regulations at least, but like you said, fiat even as we have it today will still be mostly used, and then we will have more of a co-existence between fiat and crypto.

chailatte

copper member

Activity: 104

Merit: 0

I think we can really see the relationship between the two worlds build once banks join the game.
The two HAS to co-exist for cryptocurrency to work. I don't think crypto can replace fiat.

margaret22

member

Activity: 196

Merit: 10

We pay more and more often with our credit cards, but still, if we want something to be hidden, there is the option to just use cash. Don't see it will change any soon. Also not sure corrupt governments would like that change Cheesy

Osarman

hero member

Activity: 952

Merit: 503

Quote from: cynical on June 10, 2018, 02:50:02 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.

Bitcoin will stay, and same as fiat, but Bitcoin is not going to replace fiat in anyway😏😏. Fiat is the main currency that we are using and Bitcoin wasn’t made for such purpose, neither were other cryptocurrencies. Bitcoin was just a way to make us stay anonymous and out of the control out of the government especially when making transactions. They have their own purpose of which they were meant for, and you can’t change that.

esatceza

sr. member

Activity: 385

Merit: 250

www.thegeomadao.com

Right. I think the government can not control the digital currency but they can totally control the fiat currency. So what I wonder the most is how to explain it. However, they will most likely not pay attention to the small amount and not too big enough to attract attention. In addition, all funds are transferred from one person to another and no one seems to know and can control it.

Jaemouns

member

Activity: 274

Merit: 10

Quote from: googs84 on June 10, 2018, 03:13:48 AM

Thats a good thought about the bitcoin and fiat tie up but there are again few more questions that arises. I mean why government will choose bitcoin for this purpose and why they cant just go and rule out the cash itself? So that by declaring that they will be using only digital forms of payments ? They can always do that and same thing is happening in country like India. Where to stop the money laundering they literally changed the currencies throughout the country and declared that use of digital payment will be rewarded. The results were pretty good and I guess its worth to think that government can control it the way they want.

I can see my future in bitcoin and flat . The rrason why I am motivated in working hard is the bitcoin and flat . I want to earn a lot of it so that I an afford my future wants.

bajingluncat

jr. member

Activity: 406

Merit: 2

making digital money as a currency in place of flat money is a good change many positive aspects can be taken even though there is still a weakness in terms of system and supervision but it all needs a long process and every process takes time but for now the role of money flats are still very dominant and banks are still in control of the economy so things we can do now only use flat money and digital side by side so that they can complement each other each deficiency but I am optimistic that time will come where the digital money into one currency and become a controlling economy around the world

Topic: Bitcoin and Fiat - this is how I see the future - page 16. (Read 3984 times)