Topic: Bitcoin and Fiat - this is how I see the future - page 17. (Read 3960 times)
If I sell my car for cash, we still need a contract, so the government will now, how much cash I got. So not the best example, but see your point, they would prefer more transparency for sure, which crypto can not offer.
I think that the crypto currency and fiat will be forced to exist together. I do not expect any big changes. Crypto currency will gradually enter into our life, but I do not expect any significant breakthrough in its application. In many respects, the situation will depend on how bitcoin will cope with it this year. The Crypto currency will not be able to replace all the usual paper money, it is still a utopia, moreover, this can never be done by a decentralized crypto currency. At some later stage, it will be possible to make a centralized national currency.
Crypto currency will spread around the world, but its use will not have such a significant global significance, as some believe. It can only partially squeeze ordinary paper money. Full replacement of its crypto currency is possible only in some industrially developed centers with a high level of income of citizens. In most countries, the national paper money will go for a very long time along with the crypto currency. The Crypto currency will not have such a significant value, as many believe. In any case, it will still have to develop and determine its niche in our society for many years, and maybe decades. During this time, there will be various combinations of crypto currency and paper money, as well as other financial assets.
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.
Goverment will never/ever be able to control some peoplr as they wish because somr people fight for freedom and those people sometimes are genius. For example satoshi's bitcoin made transactions anonymous and let people to do illegal things, yes. Others made proxy, vpn, pirate content and a lot.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 is more prioritized because of it's chance of rise and opportunity of profit. On another hand monero does it's job along with fiat.
Personally, I see the future without fiat money, but a full cashless settlement. The Internet currency is the currency of the future, there will be a word behind it.
That is impossible to happen. though we already have different crypto currencies around and they are more known, fiat will never be removed from countries. We need it, and what are you saying is not necessary in this topic because what you said falls into another problem. It only says here thay bitcoin will be dominant over fiat because of what it can do in transactions.
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.
Yes, it will help the government to collect taxes properly. It is strange that why some countries still oppose this.
Hopefully in the future this 2 types of currency become partner for better economy.
I think to stop money laundering they really change the currency across the country and declare that the use of digital payments will be appreciated. The results are pretty good and I think its worth to think that the government can control it the way they want it.
That's a good idea about bitcoin and fiat binding but there are some more questions that come up. I mean why would the government choose bitcoin for this purpose and why can not they go and set aside the money itself? So by stating that they will use only a digital form of payment? They can always do that and the same thing happens in a country like India.
This is why most of the governments are already promoting digital payment options. But the question is that whether crypto can compete with other digital payment options.
Fiat will always rule as currency and bitcoin will emerge as alternative fiat as it will lessen financial transactions which are expensive and slow. Bitcoin's fast and reliability would be an advantage that would keep it an alternative payment for the people and and in the business sector.
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. 
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.
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.
In my own opinion, government will not be able to control the growth of cryptocurrency and they will not be placing taxes on it, if bitcoins will be manipulated by the government then there is a huge a chance for the price to decrease or die eventually because people will stop using bitcoins by that time.
I personally think and believe existing fiat currencies everywhere won't go away, surely a lot
of tech savvy individuals and visionaries on the field dream and hope that crypto would somehow
replace paper money to make things easier and faster, even reliable to a certain point. But
Governments don't see that way, some nations support the existence and application of Bitcoins
on their economy but not to compete or potentially replace fiat by any means nor any time.
Both exists to fuel businesses and propagate monetary transactions providing people both
solutions and options. Both must coexist to make things a bit wider and convenient.
of tech savvy individuals and visionaries on the field dream and hope that crypto would somehow
replace paper money to make things easier and faster, even reliable to a certain point. But
Governments don't see that way, some nations support the existence and application of Bitcoins
on their economy but not to compete or potentially replace fiat by any means nor any time.
Both exists to fuel businesses and propagate monetary transactions providing people both
solutions and options. Both must coexist to make things a bit wider and convenient.
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.
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 just learned about this and it's quite interesting. Are cryptocurrencies legal in Switzerland? I think they should release to the worldwide news about their decision to support bitcoin or should I say the cryptocurrencies to encourage other governments and countries to do the same thing.
The anonymity is what the market in itself portrays with easy movement of funds without being traced to some extent. I do believe if carefully traced to the exchange site where the trade exchange takes place, the trader involved can be located.
Crypto can exist side by side with fiat but it will be very difficult to bypass government regulations in the future. Which ever way we look at it, the government is the boss and will find a way to take taxes for transactions , even those done with crytpo.
Government and Cryptocurrencies are still in debate and I think there are so much opinions about this now.
Personally, I think crypto concept is great. No third parties, online jobs, credits, benefits, convenience and other things. But with the services it provides, Do you think its fair to give no incentives? No right? We pay fees to the smallest fees that we can afford to make things happen.
I think the government can also provide us with good services. With access to everything, I think this tech will be successful and that is only possible if they will legalize it and help it be accepted through establishmments.
I know that corruption is never a new thing but hey, who said that citizens do not do such things too like benefiting from the government and abusing some of it.
It is just the same. We should not come clean and make the government responsible for everything.
No bias but we should see both sides.
I just think that if we do not help each other, this technology will come to a waste.
Personally, I think crypto concept is great. No third parties, online jobs, credits, benefits, convenience and other things. But with the services it provides, Do you think its fair to give no incentives? No right? We pay fees to the smallest fees that we can afford to make things happen.
I think the government can also provide us with good services. With access to everything, I think this tech will be successful and that is only possible if they will legalize it and help it be accepted through establishmments.
I know that corruption is never a new thing but hey, who said that citizens do not do such things too like benefiting from the government and abusing some of it.
It is just the same. We should not come clean and make the government responsible for everything.
No bias but we should see both sides.
I just think that if we do not help each other, this technology will come to a waste.
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.
it may be the case but what if will the recent KYC requirements and other projects that aim to fully track the payments and the people who own the wallets become successful than we could be in full control.
That is the idea that a lot of people have for cryptocurrencies, but in my opinion the governments of many countries will not allow it. All they need is to outlaw cryptocurrency and make it very very hard for people to transact using the major cryptocurrencies. That's why I think that we should be looking for less ambitious projects to utilize blockchain until it becomes commonplace, and then try to replace fiat currency altogether. It will not happen overnight..
Jump to: