Topic: Crypto replacing fiat? - page 30. (Read 63502 times)
if that happens directly to the stability of the economy, of course, this is a big change, the banking balance and fiat money will sound very impossible and will cause chaos in my narrow mind, but if that happens, people will try to adapt even though it needs a process with time long, but I'm not pessimistic because what I see is that our society is now getting used to change and always wants something new
I can admit that in several years, many people would prefer using the digital money for its convenience and the high speeds of operations. Meanwhile, cash will live as well.
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.
We are all looking forward on seeing crypto replace fiat someday but we should first pay attention on the fact that crypto is not yet accepted globally. There are countries who banned it already and their reason usually is that they see it as a threat to their economy. Having that, it just mean that it would take up a lot of time and effort before crypto replace fiat. 
Crypto will not replace fiat. Fiat was used by almost all people. Some people will use cryto together with fiat because it was more advantageous and helpful. The government can’t control crypto so they will force people on using fiat. And also to adopt on the growing popularity of crypto, maybe the government and banks will make their own digital currency that are centralized so they have control on it and make people use it.
fiat can never be replaced by anything, even crypto will not be able to replace it, crypto is just a profitable investment place for many people in the world
Changes that brings advantages and disadvantages and I believe tracing the account of someone holding big amount of crypto and forcing him to send it by threatening could be one of the situation that we can see. But I believe that h'm this kind of situation though possible there will also a great new law system to protect the crypto holders.
The crypto are going through a difficult moment, so they will hardly be able to replace the fiat for the moment.
However, when they become easier to use - and above all more stable - there is a good chance of success
Cryptocurrency especially the Bitcoin as a base currency can not replace the fiat currency because fiat currency is controlling by government of a country and they do not want to replace this system by any other due to the benefits they get through this and making their economies better with it. Crypto currencies are helping us out and we do not have to replace it with fiat as it is decentralized and we do not need any replacement. However, when they become easier to use - and above all more stable - there is a good chance of success
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 will replace fiat I don't believe it will happen, crypto is unstable in price and it will be risky if it is the only currency. Fiat will still exist and will still be used as a payment method.
I am sure that Crypto will never be able to replace Fiat, this is because the use of Crypto is very limited and cannot be used like Fiat, this is what makes us never worry about the development of Crypto.
I agree with you. This is hard to do because it has too many elements. And electronic money is not stable in the long run and it directly affects the market.Hard to replace fiat money with bitcoin or others cryptocurrency. Bitcoin is decentralized system and every country have their own advantages on economy. But bitcoin can be international currency if most country agree to use it for global trade
if equate fiat to the crypt you can buy today 1 piece of bread and yesterdey - 2 piece of bread)
I think people will be against it.
I think people will be against it.
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.
It's hard to imagine, many commoner/old generation not really know about technology especially about cryptocurrency, this is case from my country. It's better to educate all of them about cryptocurrency before going to next step.
I agree. To think that not all people in the world understands well about the use of digital currencies, it would be better to teach and help them first to learn the basic principles and guides about this coins. By doing this way, it can give them enough knowledge and ideas on how to handle with this kind of investments before replacing the use of fiats.
Cryptocurrency will not replace fiat money. But meybe replace a credit cards. it's very believable...
In my opinion crypto will never be able to replace fiat, this is because crypto is decentralized so that it cannot be used globally for direct transactions such as fiat, of course it is difficult and confusing for retail sellers when prices rise or fall by 10% per day.
I think otherwise, because crypto is decentralized, it is able to pay for almost all goods globally if it is agreed on a payment instrument. Crypto currently has a very volatile value and it is difficult to provide a stable value because there are many price settings by whale and certain parties who use the open market for crypto
Crypto cannot be used in traditional markets and even crypto cannot be used in the purchase of cheap items such as candy. If you buy candy for the 5cent price and a transfer fee of 25cent, it is a great loss to buy a candy using crypto. Fiat will still be used as a payment tool and crypto is only used in-store payments that accept crypto
Fiat is also suitable for investment. Both fiat and crypto currency has the same characteristics. It is just that fiat is what people around the world uses and that makes it more suitable. But if the time comes that people will start using crypto currency in doing daily transactions, it can probably replace fiat especially when doing international transactions. 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.
It's hard to imagine, many commoner/old generation not really know about technology especially about cryptocurrency, this is case from my country. It's better to educate all of them about cryptocurrency before going to next step.
Cryptocurrencies are no doubt amazing, peer-to-peer but it by no means a very good tool for government since the control of the flow of money is a tool the government can use to control the economy. There will be some challenges if everything is cryptos
Meanwhile, the cryptocurrencies are too young. I guess it will be better to invest in the cryptos and hold them longer as they really can partly replace fiat in future.
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 in the future because there are a lot of people in the corporate world who are still using fiat.
It will be quite a very difficult thing for crypto to replace fiat.
I think Crypto cannot completely replace paper money
Crypto cannot replace fiat money completely but will go hand in hand with fiat money, because cryptos can only be used in very urban cities, where electricity and internet supplies are adequate, but for banknotes are still used in urban areas especially mountainous areas fiat money still effective.
Can it happen at all that cryptocurrency will replace fiat currencies? I deal with cryptocurrency much but i make purchases of goods and items with fiat currencies.
I think there is a need for fiat but crypto fills a massive void and there is room for both.
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