Topic: Bitcoin and Fiat - this is how I see the future - page 7. (Read 3984 times)

I think that something like a war against cryptocurrencies is going to happen but governments are going to lose and the reason is simple, how are they going to regulate a market that was designed specifically to avoid regulation? How are they going to avoid that people use it when they have no control over it? When it comes to their fiat they have complete control and so you have to comply but when it comes to bitcoin they cannot control the network.

To build trust Bitcoin needs to stop being so volatile, but how can it be done if it is volatile specifically because people en masse don't trust it? I'm not speaking of the forum members obviously and our likes, I mean people who are not interested in cryptocurrencies just for the crypto aspect of it. I beforehand agree with what you are going to say, that trusting fiat (instead of Bitcoin) is a mistake, a big mistake at that. It is a mistake but try to explain that thing to all these people who honestly believe what their governments are telling them. But without these people wholeheartedly accepting Bitcoin (instead of fiat), the future for it looks pretty grim

It will remain a vehicle for speculation and a tool for shady Internet payments

The price is such a steal deal for people who are looking for this kind of opportunity to get some bitcoin. Bitcoin is such a great investment and it is far way better than choosing other investment since bitcoin is more likely to go up and give more profits than the others.

I think the government has been preparing for this to happen knowing that cryptocurrency is already inevitable in the market.Fiat currency is still in demand today by majority since only  few of the countries have legalized the use of bitcoin.

The future will catch up with fiat currency when people will appreciate digital currency such as bitcoin more than the fiat currency we have around. I believe digital currency and fiat currency can coexist in any economy in the world.

If we truly want mass adoption for Bitcoin, we have to wait for about 20 years. Why? Because of old people who have money stored in fiat all over the world.

Let's stop talking about better technology, anonymity, security and all other things. The majority of people in the world don't even care how Visa or Mastercard work. Let's talk about usefulness and trustfulness.

Older people would hardly accept cryptocurrencies as payment because they got used to cash and fiat digital currencies. Nowadays the majority of people over 60 y.o. in the world have big problems with using Paypal, banking cards and other things for payment in everyday life especially online. They are fine to withdraw cash at ATM or to pay at the retailers' terminals but they are hardly using cards online.

They stored their pension savings, they don't care much about technology, they have problems with using tech and they would never convert their life savings to some hard to understand Bitcoin. Let me remind you that those people are the ones who have money. Young people care about tech but they don't have money.

So the situation we have now looked this way: Bitcoin is adopted by a younger generation who don't have money on the one side and the older generation who don't care about tech but have money on the other side.

Thus, if we are talking about real mass adoption, we have to wait for about 20 years while older people naturally pass away and the current young generation will generate enough position to use Bitcoin.

That's just an idea to be discussed.

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.

Hard for bitcoin become fiat. Bitcoin is decentralized system and government must be prefer using their own currency because government can not control bitcoin supply. Fiat or paper money not always strong because purchasing power always decrease because inflation

Bitcoin does not solve the problem of allowing central banks from manipulating currency. If a central bank had a large enough position in bitcoin they could use market pressure to control the price. And then they could use pressure on bitcoin developers to set up the rules for the blockchain in their favor.

Crypto is more open to the public than fiat which is difficult to see the ownership and amount of each person. With this in fact the government has been helped by crypto openness starting from the tax side to be paid, the flow of funds in the crypro and many more benefits

In the way you think, authoritarian countries won't have any cryptocurrency that could be used eligible?
Government won't allow us (citizens) to use cryptocurrency, to buy smth in supermarket and pay crypto for that. There will be a very huge war between government, or we should change todays government (usually 50+y.o. people that will never understand cryptocurrency) to young generation.

Yeah it is true and it is good as well because for me cashless society is not so far we can get anything using bitcoin, we can invest our money but we can use it to buy goods, fiat is not now being use more than bitcoin, people have good currency which can get them anything they want in life, so better if we move with time and use bitcoin more than fiat as future currency is gonna be one and only bitcoin.

In my oipinion bitcoin and fiat  can be use at the same time because we all know that there are places  who even dont know about crypto  and only  fiat money  is the only way for them  to use to buy things.  Maybe after a years crypto will be recognize by many but maybe fiat money will be remain.

Yes, sure - there will be no need to refuse from fiat if the cryptocurrency is used everywhere globally. The traditional money will be never eliminated, and all can use it together with Bitcoin and other cryptos.

Even if that is what they want it is not going to be easy for them to get it, how are they going to force the bitcoin holders to pay their taxes when they cannot control the network? That is the biggest issue that they have, they want to extract resources from all the people that are investing in this market and they are finding that is going to be impossible for them to do so.

I agree with you . Many people expect that soon the Fiat will disappear, and some will generally predict a single currency around the world - bitcoin. It's so stupid that it's even funny.

That is actually more like what it would be in the long run. The thing about adoption is that not everyone will have access or the infrastructure to make use of bitcoin due to some limitations or the other, or by choice. As long as this is a concern worldwide, fiat will still remain in play and we will end up having more like a segregation of money in which some will go digital and some will remain traditional.

Absolutely right, cryptocurrency should be more than just an investment, for example, it can actually be used for something else. That is what makes it the opposite of real money and also the value that keeps changing as well as one of the factors.

To understand that Bitcoin can not be managed via any u . s . or person, and that Fiat can be controlled through the country, this is a totally exclusive idea, so we must consider Bitcoin as an investment.

People right now wants to have faster transactions and that is the reason why they want to implement a digital society as well as the people who are working in the corporate world.