Topic: Crypto replacing fiat? - page 36. (Read 63502 times)
it seems that it will not happen because the circulation of cryptocurrency is very different and it will be very difficult to be able to replace Fiat because not many people can know about the benefits of cryptocurrency usage.
Personally, i think the idea that cryptocurrency will replace fiat doesnt sound pleasant to my ears.
Come to think of it, fiat is paper..so has its functions.
Cryptocurrency is a virtual money and has its own functions.
Fiat cannot do the functions of cryptocurrency ....vice versa.
Its not possible for fiat to replace cryptocurrency.
Come to think of it, fiat is paper..so has its functions.
Cryptocurrency is a virtual money and has its own functions.
Fiat cannot do the functions of cryptocurrency ....vice versa.
Its not possible for fiat to replace cryptocurrency.
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.
Bitcoin will replace the currency in a few transactions rather than replace it completely, which is my opinion. It will appear as a convenient option for users to pay as well as buy online instead of out of the store. In the digital age as it is now, it will probably happen in a decade or two.I don’t think cryptocurrency could fully replace fiat. Fiat have been part of everyone’s lives for a very long time. Most of the people are so used to it rather than to digital currency. Many are still uncomfortable and still not into the digital currency.
Many companies that have chosen to implement crypto currency instead of fiat money dream about their replacement.
I believe that the community is not yet ready for a full transition to cryptocurrencies, as cryptocurrencies themselves are not yet ready to provide a full range of services
Cryptocurrency is a nodern payment tool that Satoshi first discovered. and this is a very modern technology, and not everyone can understand this, only a few people. and Fiat is needed in all human groups, from traditional to modern humans. so in my opinion Cryptocurrency will never replace Fiat, but they will run together.
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.
Bitcoin will replace the currency in a few transactions rather than replace it completely, which is my opinion. It will appear as a convenient option for users to pay as well as buy online instead of out of the store. In the digital age as it is now, it will probably happen in a decade or two.
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 cannot be replaced by crypto. Crypto holders are only people who use the internet. People who are not internet users may not know about crypto. Fiat money will still be needed and crypto is only an alternative money.
With the appearance of stable coins which many entities aim to introduce using popular blockchains like Stellar or Ethereum, we will start a new era of digital currencies, We know fiat won't last long.
Hope Philippines will endorse cryptocurrency instead of fiat money, but i know the government dont have that much fund to engage to blockchain. Hoping to happen it.
Crypto will never replace fiat, it’s impossible. There are just too many things in this world that can’t be done without fiat, and there are influencers who won’t allow crypto to replace fiat because they need it. 
Well Malta prime minister said that cryptocurrencies are inevitable successors to money as we know it. So there are some believers and positive influencers even as prime ministers in governments.
Cryptocurrency changes Fiat and defeats the circulation of Fiat I think it will be very difficult because there are so many people who do not know how to use it and can benefit from cryptocurrency so it is very difficult to defeat Fiat.
Crypto will never replace fiat, it’s impossible. There are just too many things in this world that can’t be done without fiat, and there are influencers who won’t allow crypto to replace fiat because they need it.
Perhaps in a distant future everyone will use bitcoins or one of the cryptocurrencies.
But at the moment - and still for a long time - the use of bitcoins requires specific knowledge and access to a technology that is not available to everyone.
So, this replacement will not happen very soon.
But at the moment - and still for a long time - the use of bitcoins requires specific knowledge and access to a technology that is not available to everyone.
So, this replacement will not happen very soon.
I hope that someday the transaction system can turn to crypto, this is because transactions with Crypto are proven to be more effective, cheaper and certainly safer than transactions using Fiat.
In my opinion, it would be a little difficult to use such volatile currency for payment. For using crypto as a method of payment there need some limits. Thus can help reduce volatility.
If states replace Fiat with crypto currency, then it could eradicate corruption and corruption.
Crypto cannot replace Fiat. They both serve different purposes. You cannot use crypto for instant shopping and payment as there may be network delay. In such situation fiat will be a better option.
I hope that someday the transaction system can turn to crypto, this is because transactions with Crypto are proven to be more effective, cheaper and certainly safer than transactions using Fiat.
In my opinion, it would be a little difficult to use such volatile currency for payment. For using crypto as a method of payment there need some limits. Thus can help reduce volatility.
Although it is unlikely that such a situation will occur in the near future, I think it is possible to realize this in the coming years. Even if the transition is not complete, countries may market digital versions of their existing money, and cash usage over time can be completely abolished. Of course, if this happens, this market will be affected because if all states start accepting crypt money as an official currency then regulation will also be necessary. That is why I think it is very unlikely that there will be such a situation in the near future, but I think that it will be considered in every detail in the long term and that the use of cash will end in the future. Of course, estimating time will not be easy, but I am not likely to see it happen in the next 20 years.
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