Topic: Crypto replacing fiat? - page 14. (Read 63502 times)
I wonder how much time has to pass to introduce this idea to real life.
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 do not think that converting fiat into cryptocurrency is necessary good thing to have, but I think that something like that could happen in future. Also, I would not like to use fiat cryptocurrency which is inflationary just like fiat, with governmental "printing" money from thin air.I would like to have paper fiat currency for an option.
This is unlikely because the purpose of crypto is to make online exchanges fast, safe and anonymous. It's not a complete replacement for Fiat and especially many governments have not yet accepted the crypto as legitimate so I disagree with this view of you.
If there is some economic crisis or we see US dollar under lot of pressure, then would be a time people will be thinking of keeping their money in some trust able source and that will be time when bitcoin will became real currency and eventually replace the fiat.
Many steps must be corrected if the virtual currency will eliminate paper money because everyone understands and knows everyone until now. Banknotes can't be replaced at any time.
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 do not think that converting fiat into cryptocurrency is necessary good thing to have, but I think that something like that could happen in future. Also, I would not like to use fiat cryptocurrency which is inflationary just like fiat, with governmental "printing" money from thin air.I would like to have paper fiat currency for an option.
I think it is possible that in the future crypto will replace Fiat in many areas such as health care, education ... But to do that I think it is necessary to address the problem of poor status in the world. when they are not able to receive technology.
I have too many doubts concerning these things. Yes, I agree - the cryptocurrency will be used in all spheres of our life. However, traditional money will never vanish. Cash and credit cards are very convenient.
This is unlikely because the purpose of crypto is to make online exchanges fast, safe and anonymous. It's not a complete replacement for Fiat and especially many governments have not yet accepted the crypto as legitimate so I disagree with this view of you.
If there is some economic crisis or we see US dollar under lot of pressure, then would be a time people will be thinking of keeping their money in some trust able source and that will be time when bitcoin will became real currency and eventually replace the fiat.
I think it is possible that in the future crypto will replace Fiat in many areas such as health care, education ... But to do that I think it is necessary to address the problem of poor status in the world. when they are not able to receive technology.
I have too many doubts concerning these things. Yes, I agree - the cryptocurrency will be used in all spheres of our life. However, traditional money will never vanish. Cash and credit cards are very convenient.Personally, I will never see this happen. Crypto will exist but fiat will exist as well. They will co-exist because they have different features.
We both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?
in my opinion, everything can happen and everything is possible if the development of technology and the development of the era requires currencies that are the same as cryptocurrencies, surely fiat currencies will be replacedWe both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?
Crypto will not be able to replace fiat for a long time. The entire economy in the world is based on fiat money, and cryptocurrencies are still developing and are a small part of the economy. High price volatility and other factors affect the ability to increase participation in the economy at the expense of fiat money.
I don't believe that it would be possible. Replacing fiat money is a very long process that must be followed by the approval of governments, banks, etc. The only option that may occur in the near future is the withdrawal of paper money from circulation for non-cash transactions.
I do not believe it as well. Cryptocurrencies are very good only for the guys that know how to work with the Internet, who have some special knowledge. I do not think that elderly people will support it.
Not only older people, but also younger people may have problems understanding the principles of how everything works in crypto. And it takes time to learn it. People who do not have sufficient knowledge will certainly not support it, because for them, the transaction will require them to make a big unnecessary effort from their point of view.
I think it is possible that in the future crypto will replace Fiat in many areas such as health care, education ... But to do that I think it is necessary to address the problem of poor status in the world. when they are not able to receive technology.
Cryptocurrency can never replace the fiat currency with itself. This will under no circumstances allow governments of states. And without their active position and the adoption of appropriate decisions, the cryptocurrency itself cannot make such a replacement. Therefore, visionaries and optimists can calm down with this issue.
National money of the state interacts with the state economy. Cryptocurrency exists by itself and cannot be used for planning economic indicators of the state due to high price volatility.
National money of the state interacts with the state economy. Cryptocurrency exists by itself and cannot be used for planning economic indicators of the state due to high price volatility.
I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
Yes Indeed, Fiat will never be replaced by bitcoin.Since in the New Era fiat or physical money is one of most useful tool in transaction, trading and so on. It will never replaced by an virtual money though it is one of a trend tools in the world still it will defest physical money since it is more convenient to use and proved and tested till this year. You are right about Bitcoin is more suitable for investment because it can be in a short and long term investment.
Its true, i am believe crypto can not replacing fiat money. Bitcoin is decentralized cryptocurrency and no one institution can control it and government or central banks must be want to control money supply. I am believe crypto will be alternative currency in internet world and can be side by side with fiat money
Things don't happen, this is very contradictory because not everyone will receive crypto and smart to use it. There is still a lot to be renewed from all this.
I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
Yes Indeed, Fiat will never be replaced by bitcoin.Since in the New Era fiat or physical money is one of most useful tool in transaction, trading and so on. It will never replaced by an virtual money though it is one of a trend tools in the world still it will defest physical money since it is more convenient to use and proved and tested till this year. You are right about Bitcoin is more suitable for investment because it can be in a short and long term investment.
People that can never use digital money will always exist. Even when the cryptocurrencies come into our lives and become a part of them, fiat will be popular. Even the crypto fans prefer using it.
Fiat currencies are used widely by almost all people in this global world. Cryptocurrencies can never replace fiat currencies inspite of the fame crypto has gotten some years now.
It is evident that even the toughest crypto fans cannot live without traditional money. They regularly use fiat to buy Bitcoins and altcoins as well. They sell and buy things for their national currency.
Fiat currencies are used widely by almost all people in this global world. Cryptocurrencies can never replace fiat currencies inspite of the fame crypto has gotten some years now.
It is evident that even the toughest crypto fans cannot live without traditional money. They regularly use fiat to buy Bitcoins and altcoins as well. They sell and buy things for their national currency.
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.
In my personal opinion regarding about this things, for now I don't see it that will happens. Fiat was very important so far in every country.
It could maybe happen but it will take more decades before it happens. And besides, crypto currencies at the present time now no doubt it gave helped to anyone to have profit through it, just like me it helped me a lots to sustain all the expenses I have every month.
Use a cryptocurrency which uses an anonymous ledger. That's the answer. Pure and simple. And take good care of your wallet too.
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 don't think it will happen. how famous bitcoin is, it will never take fiat's position because we still need fiat as choices of somebody in doing transaction. Besides, bitcoin is digital, fiat is physical, they can be cooperated, not to change one another. 
When there are new and fresh things emerged, some 'old' stuff were becoming obsolete. And this is one of the major questions I think we are all thinking of whether Cryptocurrencies will evwntually replace fiat in the near future? Well, personally, I think that it will never happen. Although I must admit that Cryptocurrencies will still continue to grow and expand. However, the growth and the development of cryptocurrencies will not necessarily mean that it will decrease the value nor the function of fiat in today's society. Both currencies, the digital and physical, will still exist, and they will cp-exist with each other simply because they are different currencies that have different significance, and different features.
I think it will be very difficult if Crypto completely replaces the fiat currency. in my opinion until whenever fiat will definitely be used by people. we know there are still many people who have not been able to take advantage of the current technology. I think it will have an impact on small transaction activities that will become more complicated when using crypto.
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