Crypto replacing fiat? - page 11. | Bitcointalksearch.org

QueenOfCrypto

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.

I guess this scenario is still too much in the future. It will probably be a progressive shifting of relevance, from fiat to crypto, but the crypto sector has still to ripe a real lot before being ready for such a mass adoption.

pedangrusak

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crypto is the eyes of the future and this is important to understand by many parties, but currently fiat will still be used in micro-payment activities that are not affordable to crypto because there are still many people who do not fully understand crypto

rafi035

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in the development and technology everything can happen unexpectedly and it is also possible that crypto will replace the fiat currency, if all countries legalize crypto currencies of course that can happen

Ezenwanyi1

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Veil

Assuming cryptocurrency replaces Fiat currency , I think among the challenges that would be witnessed is those in rural areas and those that are not learned will surely be "defranchised" which could lead to protests etc.
Yes, using the public ledger anyone can see what you are holding that is if they have your wallet address.....but asking you to send it to them is not possible because there's no way of linking your wallet address to your offline address

vijkaraening

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Quote from: Jose Rizal on December 22, 2018, 07:11:02 PM

Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.

Though possible to happen but for me governments will never allow this to happened since it was a huge trouble for them,that would be souch empowerment to the cryptocurrency which make the fiat less important when both parties were helpful for each other. Fiat should not be eradicated and be extinct in distinction betweenthe two because there would be always an exception and I hope they dont suffer,like the minority people that we have.

Crypto can replace fiat but for that, we need cryptocurrency to have a wide range of demand. So, big that people don't need to use fiat anymore. This can't happen so soon so we will have fiat in the market for long.

Shohanur

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BIB Exchange

Crypto currency is online based. Day by day people are joining with it and they are accepting it for their betterment. But still some countries are not accepting crypto legally. As a digital world, we should accept crypto in every sector for our comfortable life.

Shanu shan

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yes I think it will be replace fiat in future... already crypto grown world wide and everyone using crypto for gaining income...

mornabo

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Quote from: DarkIT on December 21, 2018, 11:18:08 AM

Quote from: romero121 on December 21, 2018, 11:03:04 AM

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.

well, many things need to be considered in this matter. although cryptocurrency shows a rapid development, but I don't think it can ever replace fiat, even if it can, it will be very difficult. we know that crypto prices are very unstable. although fiat is also unstable, however, it happens for a long time, while crypto occurs in a short time.

Of course, because we live in a rule, and the rule maker is the government, and they can just make a rule to ban the use of bitcoin easily? Cryptocurrency will continue to grow but not to replace fiat which is backed up by the government

anaumar

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I think crypto is not a fiat impersonator but a crypto created Satoshi Nakamoto aims to create a new financial system without any centralization by any party to be decentralized

Opnsrc

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Quote from: Wellyan on December 21, 2018, 11:28:00 AM

Until now, I think crypto will not be able to replace Fiat. because fiat is very identical with the country. so even though crypto continues, fiat will not be replaced.

Yes, man, real life differs a lot from the fantasies of some people, crypto fans. The cryptocurrencies will not replace the money we use. Virtual money is OK only when you have an Internet connection.

yvesp110

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Quote from: JohnBitCo on December 25, 2018, 11:12:44 AM

Quote from: romero121 on December 21, 2018, 11:03:04 AM

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.

I think some country should test this conversion from crypto to fiat. They should stop all fait transactions and ask people to deal only in crypto for some time. This will help us know the problems which people might face if there were only digital currency.

Exactly fiat has been using since long and it has old history. We all know that people used it only to buy goods but it has no additional benefit for people so I think now time to give a chance to crypto currency to show the worth. I am sure if people will once use crypto currency they will never comeback to fiat ever.

JohnBitCo

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Quote from: romero121 on December 21, 2018, 11:03:04 AM

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.

I think some country should test this conversion from crypto to fiat. They should stop all fait transactions and ask people to deal only in crypto for some time. This will help us know the problems which people might face if there were only digital currency.

Rooster101

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Quote from: Wellyan on December 21, 2018, 11:28:00 AM

Until now, I think crypto will not be able to replace Fiat. because fiat is very identical with the country. so even though crypto continues, fiat will not be replaced.

Same here and I think every government will not going to allow their currency to be replaced by any cryptocurrency in the future. The fiat that uses by a nation and its people is called a national currency, it symbolizes the identity of a country so it is irreplaceable. The country might instead make its own virtual currency instead of adopting a cryotocurrency from the cryptomarket.

Jose Rizal

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.

Though possible to happen but for me governments will never allow this to happened since it was a huge trouble for them,that would be souch empowerment to the cryptocurrency which make the fiat less important when both parties were helpful for each other. Fiat should not be eradicated and be extinct in distinction betweenthe two because there would be always an exception and I hope they dont suffer,like the minority people that we have.

Keshi keshu

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yeah it will be but one thing for saying no is decentralization so government is not allow for this in future

ConotCan

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Quote from: romero121 on December 21, 2018, 11:03:04 AM

Cryptocurrency replacing fiat isn't that easy, to experience a complete usage of cryptocurrency same as the fiat it needs a large scale adoption. Compared to the previous year what we experienced by this year is a massive fall, but adoption has been taking place in a gradual manner. With this I believe, in future can experience cryptocurrency usage same as fiat but replacement won't happen.

I think if the states will come to enter in this field then it will not be hard for the crypto to replace the fiat. Right now it is hard because the states are supporting their fiat and for the ordinary people it is impossible to compete these states.

slocker

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For this to be in motion of happening need to know few thing. First no matter now much I / You / He / She wants this it will not happen. For this to be in good position of using crypto and replacing completely monetary system for FIAT this is something that need to be placed. Biggest is for all cryptos to have fixed price and to be honest this is not possible in any scenario or possibility or something else. Why who would want to see price of bitcoin for example fixed on 5000 dollars for example. So this options is dead from start. Other can be creating some unique coin that will be for all transaction but again must be fixed in exchange for BTC ETH LTC or something else. This can be done but most countries will have there own exchange rate or something unique so this option can be also go in the watter.

So what then. Can it be done sure it can will they want to do it. Off course not. Think in this we have more problems rather then solution so this is really something to consider brainstorming for possible good and working solution.

cafechino

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Yes definitely crypto will replace the fiat because crypto is already used in many platform and using in many payment methods...and used in many mnc
companies...

yvesp110

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Quote from: A L I E N on December 21, 2018, 08:00:31 AM

Quote from: jikurpa on December 13, 2018, 08:44:34 AM

in my opinion to replace the fiat currency is not possible because the legality of the crypto currency is not recognized by all countries in this world and they still believe in the fiat currency of course

We do not know anything about our future. Probably, the writers of science fiction were right, and robots will replace some people in the future. If it happens, the cryptocurrency can also replace fiat.

Your thinking does not make any sense to me because at some place you are not agree to consider the value of bitcoin and on the other hand you are comparing robots to human. So this is totally double statement. According to me crypto currency is our future and it will not take much time to become more valuable than fiat.

Wellyan

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Until now, I think crypto will not be able to replace Fiat. because fiat is very identical with the country. so even though crypto continues, fiat will not be replaced.

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