Combining Bitcoin and flat currency, is it possible? - page 3.

basyang

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Quote from: Ch01ce0N3 on June 04, 2018, 09:33:23 PM

Lately, as the development of the world's cryptocurrency, many people in certain countries after hearing the news that cryptocurrency is very attractive to be used as a tool of transactions and investments, making people who hear the news want to quickly switch to the currency crryptocurrency is when in their country eyes the money is still considered and illegal. The question is, why are those people more interested in cryptocurrency when their country already has official Flat currency and why also the government forbids the cryptocurrency? In my opinion, it would be great if the two currencies are combined only. Of course the result will be very good. Well, what do you think?

Well in my way of thinking, that is a good idea so that the crypto currency will legalized in many countries. For sure many people are interested in cryptocurrency because it is a very good earning and it can support the financial problem of many of us. Why would give it a try, who knows it should be a very good combination in the economy. But I know this will make a long process before the government will implement it because there are many questions that the goverment will find answer and they will need to have knowledge in the aspect of cryptocurrency.

vonnyaries

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yes of course combining bitcoin and fiat currencies is the best combine that we can see in this era because as we can see that bitcoin is the one that have best security system and fiat is the one that have a flexible currencies, so i think we can combie 2 of them like use bitcoin for investment long term and fiat for daily use in real life

bitcoinjasensatom

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Quote from: Cutieh01 on June 08, 2018, 08:16:31 AM

Quote from: keycellko on June 08, 2018, 08:00:35 AM

Every country has different currency. More people are inclined to invest in cryptocurrency because of its volatility. Volatility has allowed people to earn more than they invested. People are not looking at the goodness of the coin now. They are more interested in making more money through cryptocurrency. Bitcoin and fiat cannot be combined. But bitcoin and fiat can coexist in any country if the government so allows.

I think Bitcoin and fiat money cannot be combined but we can have it both as an assets, because Bitcoin cannot be use in an urban area which have no internet. But then investing in Bitcoin is incredibly well.

Fiat money can be use anywhere even in the most far urban area or provinces which has no internet access but Bitcoin can only be use when there is internet. So it is not possible that Bitcoin and fiat money combined and stood as one. But in my case I have Bitcoin as my investment and fiat as well.

Cutieh01

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Quote from: keycellko on June 08, 2018, 08:00:35 AM

Every country has different currency. More people are inclined to invest in cryptocurrency because of its volatility. Volatility has allowed people to earn more than they invested. People are not looking at the goodness of the coin now. They are more interested in making more money through cryptocurrency. Bitcoin and fiat cannot be combined. But bitcoin and fiat can coexist in any country if the government so allows.

I think Bitcoin and fiat money cannot be combined but we can have it both as an assets, because Bitcoin cannot be use in an urban area which have no internet. But then investing in Bitcoin is incredibly well.

keycellko

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Every country has different currency. More people are inclined to invest in cryptocurrency because of its volatility. Volatility has allowed people to earn more than they invested. People are not looking at the goodness of the coin now. They are more interested in making more money through cryptocurrency. Bitcoin and fiat cannot be combined. But bitcoin and fiat can coexist in any country if the government so allows.

Herbys

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Interest in cryptocurrencies is due to the ability to earn good money and increase their capital. Therefore, investors invest money, although the market is very risky. The income that can be obtained from the cryptocurrency, on the bank's deposit, you do not get.

East2011

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"Reserve Your Ledger at GYMLEDGER.COM"

Its good to combine this two. And its good for us because even if we don't have fiat with us we can go where ever we want and we can buy anything with the use of bitcoin.

Naughty Princess

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Quote from: mktpromp on June 08, 2018, 06:22:58 AM

I think it is not possible to combine fiat and cryptocurrency. As they both got many differences and I think cryptocurrency has more potential than fiat money.

I agree. Fiat currency is controllable by the government while bitcoin is not. It is impossible to combine this two because it has big differences to each other. Bitcoin is good for investment because of the high potential to grow and increase its value. The value of Fiat depends to the economy of one country which make it stable while bitcoin depends on the demand and supply on the market. Bitcoin can be banned by the government while fiat currency do not.

audaciousbeing

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Quote from: Ch01ce0N3 on June 04, 2018, 09:33:23 PM

Lately, as the development of the world's cryptocurrency, many people in certain countries after hearing the news that cryptocurrency is very attractive to be used as a tool of transactions and investments, making people who hear the news want to quickly switch to the currency crryptocurrency is when in their country eyes the money is still considered and illegal. The question is, why are those people more interested in cryptocurrency when their country already has official Flat currency and why also the government forbids the cryptocurrency? In my opinion, it would be great if the two currencies are combined only. Of course the result will be very good. Well, what do you think?

The fear of those who have maintained a position against bitcoin is not about existing together but because they are scared that if allowed bitcoin would surpass their own currency and all parameters point to that. In every climes of the society where fiat and bank accounts is being used that can be traced, people still find a way of hiding their resources from the prying eyes of government I then imagine what would happen in the case of adoption of crypto currency and the moment government loses such control then we can just assume there is no government.

However, a way out is for each government to have its own backed crypto currency but at that comes with its irony because its either they need to start a massive workshop on teaching their citizens or it wont work as people who are already exposed to the current crypto currency we have would need more than some advertisement to convince them to use government backed crypto currency only if it can be converted to BTC.

baby02

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That's a better idea the economy surely grow, fiat has stable value and bitcoin is unstable in terms of value but has more potential than fiat money.

mktpromp

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I think it is not possible to combine fiat and cryptocurrency. As they both got many differences and I think cryptocurrency has more potential than fiat money.

Red-Apple

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Quote from: Ch01ce0N3 on June 04, 2018, 09:33:23 PM

switch to the currency crryptocurrency is when in their country eyes the money is still considered and illegal. The question is, why are those people more interested in cryptocurrency when their country already has official Flat currency and why also the government forbids the cryptocurrency?

what are you even talking about here?!!!
the countries that have banned cryptocurrencies are rare. it islike 192 countries that consider bitcoin legal either as a commodity or a currency and 3 countries that have banned bitcoin!!!

why people choose bitcoin you ask? because bitcoin is the only decentralized currency, because it has a lot of potential of growth and getting in now means being early adopter,...

Boldmaxx

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Yes, it is possible to combine both as is it already happening in some countries that have legalized the use of cryptocurrency. Some online retail store are already accepting payment through cryptocurrency (mostly bitcoin in this case) and many more will join the train as time goes. Some of those that are yet to legalize its use are mostly concerned either about its abuse such as use for money laundering and the likes.

Informedd

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In terms of flatness, it has enough factors, according to this one just in time to accept it by everyone

shkwarka333

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I doubt that it is possible to combine two currencies - digital and Fiat. They compete with each other and the Union is contrary to many rules.

khoipm

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In some countries, they have not introduced laws and regulations for Bitcoin advertising, which led to the ban. They fear tax evasion as well as money laundering with Bitcoin. Cry

Periodik

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I think so. Right now, we are actually combining the two. There are certain transactions that impossible to happen with Bitcoin. Included in these kinds of transactions are those that involve areas beyond the reach of the internet. Only the fiat currency could be used in this. There are also areas where electricity has yet to reach. We cannot use Bitcoin in these areas as well so fiat will be the only way.

cryptoroi

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Combining Bit coin and Fiat currency is quite impossible. Fiat currency is under regulation on the other hand there is no regulation on bitcoin. If those two are combined it brings many benefits for crypto market.

qwertyup23

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Quote from: surfinonmyownwavebaby on June 04, 2018, 09:48:35 PM

Of course it would be good if FIAT and crypto could get along but those worlds are opposed in nature. The reason they are interested in crypto could be varied but it is likely to free themselves from the fiat system as it currently stands.

That would be the ideal situation but fiat and cryptocurrency would be compatible with each other. Currently, some countries view bitcoin as an alternative payment to their services/products and you also have the option to convert your bitcoins to fiat. Depending upon the government situation, bitcoin and fiat may be possible utilized but it will create a conundrum between the two forces as they may conflict and cause further conflicts in the transaction aspect.

I believe that once bitcoin has been legalized, it will eventually become a currency that will be existing electronically- which will ultimately eliminate the purpose of peer-to-peer transactions.

Tankdestroyer

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Quote from: Ch01ce0N3 on June 04, 2018, 09:33:23 PM

Well, what do you think?

I think Bitcoin in fiat can coexist but for it to happen, countries around the world needs to legalize it and bitcoin needs to be accepted widely as payment first and not as a mere "speculative tool". If bitcoin were to continue being a speculative tool for most of us and if the blockchain of bitcoin cannot handle 30X the volume it can handle now smoothly, i am sure that it will be dethroned by a better cryptocurrency in the far future.

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