Crypto replacing fiat? - page 39. | Bitcointalksearch.org

fishball

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 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.

One of the best possibilities in the near future. But as far as we can see, and just for my own opinion, I think it will never happen. Yes we may end up liking this scenarion but cryptocurrencies can not replace fiat money since fiats are part of the huge success of the world's economy.

billygarrison

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 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.

maybe in the future every country has crypto, the example of fiat dollar becomes dollar token and has a fixed and unchanging price, so this can be used to shop online or buy anything using dollar tokens,
it's practical and easy to use,

Janation

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Quote from: airdropwwani on August 18, 2018, 07:37:04 PM

I think that BTC will gradually erode the dollar. Initially, as a kind of asset like gold etc., in a country where you can not believe your own currency, it will replace your own currency. I think that it can be a substitute for dollars if the problems of BTC transaction processing delay and cost are solved.

Even if you say that you don't really believe on your fiat, I don't think that that will be able to replace the circulating fiat in your country. Fiat are centralized while these crypto currencies are decentralized.

And the BTC transaction processing delay and fees or cost, I don't know when will be that be solved with the blockchain flooded by a lot of transactions by users. All I know is that BTC will never replace the fiat.

MoreMoneyHunt

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IQCash

Crypto and Fiat will coexist because the final exchange of every cryptocurrency is to Fiat. Fiat is the currency which has got the legal backing of the governments in a country and with this, the people tend to patronize it without any fear and doubts. Cryptocurrency is now evolving and will take time before the people understand its concept and embrace it into a lot of businesses and payment methods.

KrishaBitcoin

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W12 – Blockchain protocol

Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 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.

What you trying to ask is the advantage and disadvantages if Bitcoin will replace fiat as world currency. Well for me i will favor this because it will be more safe and convenient every time we will walk on the streets. We don't need to bring a huge physical money anymore which is not safe and we could use Cryptos in case of emergencies like we are in the hospitals in which we don't need to bring our ATM and wallet anymore. The major disadvantage is the crypto could not use by the less fortunate people in which computer literacy is vital on every transaction.

airdropwwani

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I think that BTC will gradually erode the dollar. Initially, as a kind of asset like gold etc., in a country where you can not believe your own currency, it will replace your own currency. I think that it can be a substitute for dollars if the problems of BTC transaction processing delay and cost are solved.

Yramesor0

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I think it can't be happening. Fiat money has been established for how many years and besides crypto is not fully accepted worldwide. Crypto like bitcoin can be a medium of exchange but in electronically transactions only. Bitcoin can be an alternative digital money only for our fiat money in buying or purchasing goods or services, bills payments, etc..through online transactions.

SkvorNyc777

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Swipe!

I think that crypto is fully capable of replacing fiat but it needs more time to develop its stability and community to the next level.

lephuqui

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 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.

What you have said is very unlikely. Do you think the government and banks will see that happen? When a coin is widely used and replaced by fiat, the government will lose power, and they will not be able to manage it.
Taxes are an important source of government revenue and banks' fees are no longer available.

You find it irrational.

Agapelove

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It is not possible for cryptocurrency to replace fiat because fiat exist for the purpose of standard trading with standard value. While cryptocurrency is very volatile and unstable. So, it is not possible.

Sled

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Bitcoin- in bullish time

If there will be a cryptocurrency that is stable like the fiat then it will literally replace the fiat because it is faster and better than using fiat because if you have cryptocurrency then you can just store it in your cryptocurrency wallet and get a good return from keeping it because the market of that coin will stable on growing because of the massive adaption.

kenlyresuello08

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Maybe in the far future. Simply because of the upgraded technologies on earth all things that human do computer are always involved. And maybe in the future crypto will replace fiat.

Crystal24

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Cryptocurrencies is not that popular, so will not be replacing fiat anytime soon.

localcrypto

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crypto won't replace fiat for as of now crypto is expanding in inner horizons to become the digital money where many use digital money rather than paper money

DrYe5

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Quote from: lolehiM92 on August 18, 2018, 12:00:07 PM

Do you think today's society should change fiat with cryptocurrency? And if there really is no fiat, does our society have any difference or positive change? I think we should think about the problem between fiat and crypotocurrency currency

For me there is not chance that it will replace it in 100%, cause it is almost impossible that the whole population will just move their money to crypto, that could only happen in some % and in some parts of the world.

LyQaN

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Cryptocurrency is becoming popular and it has a bright future ahead.But I don't think that it will affect the fiat currency. Fiat currency is something which is used by people since years.Government has full control on it and people are used to it and feel safe in making their transactions with it.I don't think they will find this much satisfaction by using any kind of cryptocurrency.Cryptocurrencies will be used but fiat currency will be the first choice.

Fretcy

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There are more chances for the crypto currencies to replace fiat currencies not now may be in the future as crypto currencies transactions are clear and transparent and no one will be able to manipulate the network as the block chain technology is a decentralized network. Crypto currencies work more efficiently and effectively than any other fiat currencies and all the crypto currency transactions are faster with low transaction charges compared with fiat currencies. In the current scenario all crypto currencies are backed by the fiat currencies.

Lady Coquet

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Quote from: Pepito Manaloto on August 18, 2018, 11:40:20 AM

Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 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.

We are all hoping that it will happen in the future. If ever that occurs, it will grant those who have already invested a lot on crypto advantages over those who has no idea about it yet. That just simply means you should start investing and supporting crypto so that when the time comes that it gets legalized all over the world, you are not new anymore and will get a lot of benefit.

I think it is really impossible for cryptocurrency to replace fiat currency because first of all most governments supports the fiat currency instead of crypto and it is mostly used by everyone in the world. But many people are hoping that cryptocurrency will be used all over the world rather than fiat currency.

lolehiM92

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Do you think today's society should change fiat with cryptocurrency? And if there really is no fiat, does our society have any difference or positive change? I think we should think about the problem between fiat and crypotocurrency currency

Pepito Manaloto

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MenaPay - Crypto made easier than cash

Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 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.

We are all hoping that it will happen in the future. If ever that occurs, it will grant those who have already invested a lot on crypto advantages over those who has no idea about it yet. That just simply means you should start investing and supporting crypto so that when the time comes that it gets legalized all over the world, you are not new anymore and will get a lot of benefit.

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