Crypto replacing fiat? - page 24. | Bitcointalksearch.org

hacekd

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Quote from: Afonos on August 16, 2018, 08:37:18 AM

Quote from: lendahawkins on August 14, 2018, 07:29:51 AM

The problem is the safety of our account, i believe when crypto replace fiat it means the value will be more stable and the transaction could be fast as fast using debit card. But the security of our account is so vunerable, or maybe there will be a wallet that cant be hacked.

For large transactions, cryptocurrencies can be used, but can you imagine when a 7-year-old boy buys candy to pay using crypto?

What happens is clearly a payment problem. To replace fiat money, I think it's impossible. But to align with fiat money is very possible.

Only functions and uses can differ depending on needs. Crypto money is a sophisticated technology that can definitely add value to financial transactions because digital currencies do not have physical, but banknotes cannot be replaced because they are practical and have physical properties.

The BTC will not replace any fiat currency but in a failed economy like Venezuela today. This can be a very valuable commodity where investors can protect against stock markets that often fall. The final estimate for Bitcoin is that its value drops dramatically and becomes worthless in the process. Finally, popular cryptocurrency was abandoned to the wreckage of a failed digital revolution.

marketone

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Crypto will not replace fait but fair will support the crypto in terms of fair. Already in some major companies and stores are accepting are one of their payments.

Doyenuklirblok6

newbie

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of course crypto will change in the future, after a number of current problems can be overcome and when crypto will become more stable in the future, fiat will most likely be replaced, as evidenced by many beginners who want to learn about this crypto and they believe that crypto is future will be needed.

43volos054

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Crypto will exist but fiat will exist as well. They will co-exist because they have different features.now is the digital era so many countries have applied digital money

Akpuv

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

This will be so wonderful. This is what Satoshi Nakamoto may also hope. Life will be somehow easier with cryptocurrency. People can carry out their transaction without too much hassle.

AncientMystery

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“The Future of Security Tokens”

Crypto is absolutely capable of doing it and I don't actually doubt that it will replace fiat one day, fiat can't fulfill all the needs of todays community.

parapencariuang

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

if crypto replaces everything, then maybe the problem is that cyber crime will increase. and people will get lazier because they are treated by crypto, all can be done by Crypto.

MrRiuss

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

well, if you say so. the main problem is the internet connection, good internet connection are not provided all over the world. in fact, there are still many countries that have a very bad internet connection. also, there are still a lot of people that "blind" about internet.

Himanshu111

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Quote from: MetalGear on September 21, 2018, 11:45:25 AM

Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

If this case will happened it will have both advantages and disadvantages for us. As advantage, we can see how the government will spend the funds since anyone can see the amount of cryptocurrency do they have. As disadvantage of it the security of people will be unsafe since anyone can see how rich a people which can cause to robbed them or hacked them.

No this cannot happen.This is because Fiat is being used by all the people of the world.Fiat is centralised and so it is supported and backed by the central bank and the government.Fiat the safest form of currency.All the transactions all over the world are done through the Fiat currency only.Fiat is also accepted internationally.Banks accept only fiat currency.Fiat does not require any internet connection to get operated unlike cryptocurrencies.They also do not require any basic knowledge.

MetalGear

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

If this case will happened it will have both advantages and disadvantages for us. As advantage, we can see how the government will spend the funds since anyone can see the amount of cryptocurrency do they have. As disadvantage of it the security of people will be unsafe since anyone can see how rich a people which can cause to robbed them or hacked them.

jaaeeeyyyy

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Quote from: virendarnagpal on September 16, 2018, 12:08:47 PM

Though the crypto seems to replacing fiat; but the process will take long time. There are majority people till date who have no access to internet or if they have access they do not know how to operate. So until 100% population will not be using crypto it is impossible that crypto will replace fiat.
Speed will be slow but after a long time i see that around 90% transactions will be made through crypto and rest for emergency needs 10 % fiat will be there in use.

It has some point. Because we can see the difference between the two stated above. And they both have the place to work with. If that is the case then the way we can measure the cryptocurrency is through fiat and I think this is the thing that is more likely inappropriate. But we cannot close the topic that fiat and crypto will stay together because there is really a possibility that fiat can replaced by cryptocurrency because of its characteristics that the fiat do not have.

dasana212

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Quote from: musharaf on September 19, 2018, 02:14:50 AM

Now i disagree that crypto is replacing fiat fully in our country mostly fiat is using for every thing banking Industry is growing and crypto is very useful for every transaction while crypto is also using but in less amount.

It's because there are still many people who do not know about Bitcoin so make any Government
reluctant to legalize Bitcoin as a legitimate means of payment replacing fiat.

Andika23

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I think fiat money must still exist, because bitcoin is an alternative transaction, if fiat money is extinct how do people want to buy food if they don't have internet access and don't have a smartphone, I think allowing fiat money and digital money to coexist, because there are still many the advantage of using fiat money.

musharaf

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Now i disagree that crypto is replacing fiat fully in our country mostly fiat is using for every thing banking Industry is growing and crypto is very useful for every transaction while crypto is also using but in less amount.

nisya

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I don't think it can happen in the one or two years because of people out there still not ready to accept crypto and they think that the crypto will scam them. we need to spread more about cryptocurrency so people will believe with the cryptocurrency and they will think that cryptocurrency comes to them as a new solution to solve their financial problem. besides that, they can know that cryptocurrency gives them the opportunity to have a new type of the investment that they can use to gain a profit in some periods.

tapaibuccok

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I can't imagine it, crypto is a good investment place but it will never replace Fiat, many problems will arise such as slow transactions

Kingathur

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In my views cryptocurrency replacing fiat is not to realistic. If we consider how much time we could fully develop cryptocurrency then we could say it would take a decade or more for it to be accomplished.

webdevmastery

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

In my own opinion, cryptocurrency will never replace fiat because there are a lot of people today in the corporate world who are working and earning fiat so it will be still necessary for the government to use fiat.

Getmon

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Nice case scenario. I think if it will come to that point, you will have several cryptocurrency addresses and wallets. And your addresses and wallets are yours and yours alone, even the information about it. Your addresses are not tied to any of your personal identity and so even if people have one or two of your addresses they do not know that it is yours. And even if they do know that they are yours, it would be impossible to know all of your addresses.

sevenbits

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Yes, everyone would like to believe it. However, if we look at the current trends, then crypto does not even compete with the Fiat and certainly does not replace it. The situation may change, but it is difficult to make predictions for such a distant future.

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