Topic: Can Bitcoin and FIAT co-exist? What will be the advantages then? - page 3. (Read 918 times)
October 19, 2018, 08:56:24 PM
I think fiat and crypto are co exist now, and actually both of them are a good collaboration, I can see that there are so many people got the advantage from the economic side and the quality of their lives become better, the more choices in transaction make the transaction become easier, but for now the government still do the research to balance the power between fiat and crypto, I believe in the future we can see the cooperation between fiat and crypto to create a better life
October 19, 2018, 08:49:00 PM
FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Fiat money and bitcoin can be side by side as payment. Fiat money usefull to picture the economic condition and used in a country. Bitcoin as currency can used globally and i am believe people will use it when trying to travel
October 19, 2018, 07:17:34 PM
bitcoin and fiat can absolutely co-exist, and they do. unless governments are wiped off the planet completely, they will always use their authority to control the economy through fiat money.
why would they ever give up that power, with or without bitcoin?
you're talking about physically backed money. that's not what fiat money entails. fiat is simply currency that is established as money by government authority.
why would they ever give up that power, with or without bitcoin?
FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Nope. Well, there indeed were some examples since 11th century, but the era of domination of fiat money came in 1971 when Nixon decided that backing up dollars with gold should go away forever.you're talking about physically backed money. that's not what fiat money entails. fiat is simply currency that is established as money by government authority.
October 19, 2018, 07:03:52 PM
FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Maybe next in future if both fiat and bitcoin can be used for daily life, it will not disrupt each other. Because they will have their own user and it all depends on merchant which accept it. But for price, it will make bitcoin price increased. October 19, 2018, 06:53:40 PM
For now, Fiat and Bitcoin have long lived together in the exchange market, Fiat currencies are used to exchange bitcoin into real banknotes. So this is very mutually reinforcing each other. Bitcoin without Fiat money will not have a price that will not have value, so bitcoin will remain with Fiat in a very long time.
October 19, 2018, 06:44:28 PM
I think when the coexist it is a good idea because even now we use the fiat currencies to buy the cryptocurrencies through escrow markets. So there should be the existence of both for a smooth transaction.
October 19, 2018, 06:39:38 PM
There are projects that offer the use of their coins on their platform. Many are still under development, but when they work, everyone will be able to freely use their cryptocurrency. This will not interfere with Fiat money in any way and I believe that they will be able to coexist.
October 19, 2018, 06:30:16 PM
There are countries that are not physically able to use cryptocurrency and it will be impossible for them to refuse from fiat money. However, fiat and cryptocurrencies can coexist with each other, as it happens now.
October 19, 2018, 04:06:50 PM
They are aleady coexisting. But will just help to compliment each other. Not everyone will ever use bitcoin, so fiat will still be around. Because of the technology of bitcoin, fiat will always be around to serve some purposes.
October 19, 2018, 04:04:08 PM
For a long time, I think fiat money will still be there. And during that time, fiat money will co-exist with crypto. The advantage of using bitcoin in my opinion, we can buy anything from home. Without any geographical limitations or other limitations
October 19, 2018, 01:52:18 PM
FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Nope. Well, there indeed were some examples since 11th century, but the era of domination of fiat money came in 1971 when Nixon decided that backing up dollars with gold should go away forever. The whole name comes from Latin 'fiat' which is like 'let it be/ it should be', so the nature of this infinite money having value because the government says so is revealed. Can cryptos coexist with fiat? Sure, but they'll probably inevitably replace the latter because of many problems the potentially infinite amount of money of a certain currency leads to. Cryptos have a new mechanism that allows to make sure the supply is limited, but at the same time not linked to a specific resource, since too much money is needed already and no resourse could back it all up. October 19, 2018, 01:40:50 PM
I think for now it's so difficult, as time goes by many people can understand it.
October 19, 2018, 01:45:48 PM
Crypto and fiat coexist finely already. As I see one do not disturb each other. The only thing disturbs is the government, laws and taxes for exchange and transactions.
October 19, 2018, 01:36:10 PM
Coexistence is the most probable outcome. Some people think that cryptocurrencies will take over and kill fiat but you can't kill something that is forced upon people by their governments. You can weaken it but removing it completely is almost impossible and I don't think that governments will adopt cryptocurrencies and stop printing fiat.
October 19, 2018, 01:28:32 PM
Yes off course bitcoin and the fiat money are already coexisting with each other presently cause there is no way you can use bitcoin freely without exchanging it to fiat at some point and at that there both will be depending on each other for a smooth financial transactions because their both run the financial system of the world today.
I agree with what you say, that bitcoin coexists with fiat.because both will coexist in our daily lives
October 19, 2018, 01:06:28 PM
Yes off course bitcoin and the fiat money are already coexisting with each other presently cause there is no way you can use bitcoin freely without exchanging it to fiat at some point and at that there both will be depending on each other for a smooth financial transactions because their both run the financial system of the world today.
October 19, 2018, 12:52:07 PM
Well, if they are used for different usage, then why not? But if crypto is allowed like normal fiat coins, then crypto is easier to carry and exchange. In other way, the savings account gives you a monthly benefit, you might not get it from crypto.
October 19, 2018, 09:04:43 AM
FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Becoming a world currency Bitcoin BTC can only be a crisis announced by the IMF.
If we recall the fall of the Turkish lira, after the US sanctions, it caused a stir on the local stock exchanges.
Trading volumes on Turkish crypto exchanges increased significantly when the Turkish national currency reached record low price marks.
October 19, 2018, 08:58:38 AM
The volatility of the cryptocurrency is now insane and you can make good money. Fiat is the globally accepted currency and bitcoin cannot replace it. Both are co-existing at this point in time.
October 19, 2018, 07:47:00 AM
FIAT money is our daily currency which has been existing here for hundreds of years, when crypto currencies like Bitcoin is squeezing their way up to become a world currency and sort. Can they co-exist? If so then what benefits we can get from them, altogether? Not separately.
Becoming a world currency Bitcoin BTC can only be a crisis announced by the IMF.
If we recall the fall of the Turkish lira, after the US sanctions, it caused a stir on the local stock exchanges.
Trading volumes on Turkish crypto exchanges increased significantly when the Turkish national currency reached record low price marks.
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