Topic: Crypto replacing fiat? - page 3. (Read 63502 times)

This is a good moment for crypto, it is a good solution for financial operations like the online payment of bills and not only so yes, it could replace fiat.

The government would rather choose the things that they could only control just like fiat currency, even there are now countries who have started to legalize the use of bitcoin and blockchain it is still impossible for crypto to replace fiat, that is why crypto could be an alternative way for making transactions.

I agree on that crypto will not replace fiat, because fiat is really controlled by the government and it is really more trustable than crypto this time. Because there are a lot of tricks in crypto that can be easily become scam and everyone may become a victim on it and lost its trust in crypto while in fiat we can all see that it is very much more legal than everything. Anyway we can still both used crypto and fiat and theres no harm on doing such thing.

It is not that it is supported but it is the currency being controlled by them. They would never let crypto currency replace fiats since we all know that cryptos are decentralized, as no one would control it, whales would be able to manipulate it. I think crypto currency would go side by side with fiat, as we can use fiat every day, that would be the same as crypto currencies.

All of us here do really appreciate the use and the innovation of crypto, but it is impossible for crypto replace fiat for now, even there are a lot of countries who started to legalized crypto, it will be difficult for everyone to adopt it because not all of us has the enough technology and has the ability to buy bitcoin and other cryptocurrencies to use for their daily lives.

It is a thought out of the box. But if we can make that moment happen. It is a futuristic vision because all the nations of the world should have the necessary infrastructure to adopt massive adoption.
I can only say that I love Crypto because it is the best way I have found to earn an income despite the volatility of the crypto market. Crypto is better than FIAT.

The cryptocurrency couldn't really replace fiat currency because fiat was supported by the government and fiat money started to dominate since the 20th century, that is why it is being used globally. We also do not need for cryptocurrency to replace fiat because cryptocurrency should always be decentralized.

I don't think crypto can ever get replaced with fiat currency Fiat currency is centralized and it's always under the control of the govt. Cryptocurrency doesn't control anyone and nobody will support Fiat for operating in crypto.

first of all, I would like to correct you - it is indeed very hard for crypto to replace current fiat, but that is possible in general.
would it be very profitable for everyone? not now
I believe crypto will take its part of economy slowly, but surely in this decade

There are two perspective in this topic.

First, at some point it was a smart idea, because as we can see now, we are all in the modern world and all things can be manipulated by the new inventions or technologies. And many transactions now are in online like buying in your preferred stores.

Second, many people that does not have a smart phone are not have the ability to use crypto as their transactions. Not all people have a deep knowledge about crypto so that they prefer to use fiat currency.

It is impossible for crypto to replace fiat, because the government will not allow that to happen. I think it's better for both to exist,
because it can complement each other. Because from the first crypto was created not to replace fiat, but to eliminating third parties
such as banks. So financial transactions are more efficient and effective.

But nonetheless on the way. Cryptocurrency is what some will would say, a better version of currency in itself. Anything fiat can do, cryptocurrency can do better in one way or another. As of now, ot may seem as though fiat is winning this race, but as you have mentioned, the process is gradual and it takes time to be fully implemented. So it is quite fallacious to say that cryptocurrency will remain as an asset and fiat continuing to serve its people. It is quite evident now that people are more inclined to the digital aspect of purchase, which is the first step in total adoption and use of cryptocurrency.

Cryptocurrency was not created in order to replace fiat with itself, and it is not capable of it. Cryptocurrency, as well as other non-cash forms of payments, will only slightly displace cash. The world as a whole is gradually moving towards non-cash and digital means of payment. However, this process is lengthy and so far only partial.

according to this crisis it would be a smart move but so far nothing happen

This thread has been dragging on for more than a year, and it does not seem to me that there is an improvement in the situation, as far as the public's knowledge of the crypto world is concerned.
Until there is a more stable change, and above all the use procedures will not be simplified, bitcoin will not be able to replace anything.

Fiat currency comes from DEBT
Debt is liability, responsebility.

The Debt Gives value to Every dollar or Euro.


Now Let's Say we Don't have debt, and You are Federal reserv or Central bank, You need to provide your currency to People to use it.

So how u gona do that?
You print money, Right?  But how do You Know how much?  Let's Say the population in Country is
900.mil so will You print half like a 450.mil?
That means half People must be in absalout Poverty!! 
Right You print 800.mil. It means 100mil. People must be in absalout Poverty!

So You print exacly 900 mil. Or more  So then If Everybody Will have enough money or more then the money Will have no value!

Debt is Liability so the debt intrest Will make People to pay Back more then they Got... So Principal plus interest,  so People Will start fighting with other People in order to pay Back loan that what Gives value Now to Fiat!




Cryptocurrency... Is debt free, then it Can be Only with value When its less then People.

In this Case the cryptocurrency Can be Only currency in the World When are Only  rich and poor!

The Debt is Only factor what Will let Everybody to feel rich buy the things what they Can't afford.


If the cryptocurrency Will be world currency we Will have full communism Regime or Even totalitarism of fullest

I don't think cryptocurrencies can ever replace Fiat since you should understand that until and unless cryptocurrencies are stable + widely accepted they cannot be used for daily activities also at the same time you cannot use it offline...
And if they are too stable to even lure in investors then there will be no point in having them .. They will be same as Fiat .

indeed it is very difficult to happen. after all, if that happens, one of the problems we face is that it depends on the internet. That will make transactions made in difficult areas of the internet network will make it hampered. besides, in the security system, I think it's quite risky, especially if we store all our assets on the hard wallet. if it's gone, then it's very difficult to return it, or even it can't.

But the world is changing, the time is passing by so fast and technologies are being developed every day.

We don't know what might happen, all we know is that it will not stop, it will continue to flourish and all we can say is that it will not replace crypto, for now.

Maybe in the next years we are already seeing news or hearing rumors about it happenning.

Cryptocurrency does not intend to replace fiat. Cryptocurrency was designed to bring financial independence to its users thus it takes the power of control the governments have over the financial transactions of the people and gives it back to the people. Since the fiat has got the full support of the governments, it will be very difficult for cryptocurrency to replace it. Both will rather coexists as the governments cannot stop cryptocurrency as well.