Topic: Crypto replacing fiat? - page 40. (Read 63527 times)

Yes that is not so easy that crypto will replace fiat currency so easily. No doubt that it will effect fiat and will surely reduce the use of fiat by the people, but still I do not think that it can totally replace fiat. I think that fiat and crypto currencies will go side by side for a long time.

The acceptance of people on crpytocurrency as a new form of currency in transaction is a good start for the development and the improvement of the system of cryptocurrency in terms of its market and the block where people could chose to have transaction that is base on cryptocurrency for better and faster transaction that would definitely help the development of the cryptocurrency itself.

as for me, impossible

We are all looking forward to that kind of system in the future but we should first see the pros and cons of having crypto as the currency of everyone. It may still take time before that happens since crypto was already banned in some countries. Having crypto as our currency can only do two things to us, make things better or worse.

You're definitely correct with what you said will happen if crypto currency take replace fiat because the people will that the government have fail us so many time so people will longer vote or trust the government. Besides, the national currency which carry symbolic sign of countries will worth nothing and this is the reason why the government are against crypto currency whenever they are still in office.

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.

Maybe in the future but not anytime soon. Technology has overcome the age of currency, no one knew gold will be replaced with paper, though Gold still hold its value, it is no longer accepted as a currency. Crypto may replace fiat but it may not be even called a crypto in the future, there may be a single digital currency one day that may be used as a global currency and it may not be associated with blockchain at all. Think of all the possibilities, we're still in the early stages of digitalizing every asset we own. It will still take 10 years before we see huge results. So yes, imo, one day maybe digital currency or crypto may replace fiat.

Any of these two have their own feautures and they should co-exist. I see no reaason that fiat disapper in the future.

I agree with this since we cannot force everyone to be involved in this community if they dont see the potential that this may happened within their systems and I think will cut the idea of making this crysptoccurency which we called Bitcoin as a universal currency of fiat, due to the fact that not everyone has the capability to accept this in their country which lead them to banned bitcoin.

This would be impossible since it is so hard to use just crypto alone without the aid of the centralized currency or the fiat money. As we all know that there are raw materials to be exchange and crypto is not necessary for this since the raw materials like fruits and vegetables coming from the mountain are being grown from the farmers which could not access internet. There is literally a slight chance of these guys to have a good internet connection therefore crypto will not going to replace fiat.

That will never gonna happen, crypto replacing fiat money is just a dream and we have to face the reality that it is very impossible for that to happen. Fiat is what we use for so many years and it is important for on everybody else's lives. The fact that crypto is only use with the help of the internet and you we can only do transactions online but not all people has an access through the internet that is why Fiat is important to many people. Crypto will exist together with Fiat but it never replace it.

Ctyptos can not replace fiat money totally, inthe highly urbanized city and places cryptos can replace fiat but for places where there is not enough internet connection cryptos can not replaces the old fiat money, it will still continue to be used in this area.

It will make us no longer worried about inflation so the tendency to choose altcoin or bitcoin to replace fiat as a valuable asset when we see currency fluctuations and other uncertainties, That's why altcoin buyers are increasing

Aside from that, i have a strong belief that it near impossible to have fiat replaced by crypto because in the first place, the downside of crypto being unable to be use  when there is no internet connection can raise concerns before that ever happened because how can you buy food to eat when you're hungry when there is no internet connection at all?

Is it really the case, though? When sending money, it's not really "easier" since both bank transfer and bitcoin transfer can be easily done with your fingertips. They both have mobile apps. I wouldn't say it's "cheaper" since bank transfer doesn't have fees as long as you are using the same bank, at least that's the case in my bank or in my country. Both are safe for transacting as well.

In real life, it's easy to take out a fiat out of your pocket and hand it to the seller and it is to take out your smartphone, open your data connection, scan a QR code, and send the money. They are both easy. For the fees, paying with fiat has zero fees and paying with bitcoin has, but it's so insubstantial that it's almost zero dollars.

The safety is where they aren't a tie. Let's say when you were taking out your fiat from your wallet, your wallet got stolen. It's okay since you can always just bring enough money to survive the day. You can bring as little as possible and wallets cost about 2$. But let's say while paying with your smartphone, your phone got stolen. Even when the bitcoins there is very little, the phone itself is very expensive and is pretty much what the snatcher is after.

But if you're saying "safety" as in "security" when sending the money.. Who got harmed by simply handing over a fiat? And who got hacked by simply scanning a QR code and sending money? Both are secured.

You're right, I think most governments that support this development only support in the digital world. it was not supported to replace fiat currency. well, but I think we really need that, because I think bitcoin will disrupt the economic system if bitcoin replaces fiat.

I really do not see a future where Crypto replaces Fiat. Honestly, such a future is not desirable. Even if it was desirable, quite a number of factors will not permit it to happen. I think the first major factor is government. Governments will never allow the eradication of Fiat currency. The eradication of Fiat will also mean the eradication of central banks. And this will mean complete loss of economic control by the government. I don't see any government letting this happen. Unless of course digital currencies will cease to be the way they are presently and face some really stiff regulation.

Most government do not want fiat replaced by crypto because government and central banks can not control crypto supply. In few advance country, bitcoin can used for payment but its hard to replace fiat for transaction as long bitcoin transaction take long time for confirmation

I think crypto wull never replaced fiat,first it will due a long term process before it will implement ,those who has no knowledge about cryptocurrency,it will hard for them to understand and use it.I think crypto is only for payment system this will surely happens in future.

I believe so that crypto will indeed replace fiat money. We are now on advance society and digital money is more advance money so it will one day replace fiat.