Crypto replacing fiat? - page 45. | Bitcointalksearch.org

valentine401

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Quote from: Norihiro on August 14, 2018, 11:05:55 AM

For me it is likely that it will finally happen one day. Even if now crypto is not in its best positions it still has very good chances to accomplish that in future...

Maybe it will happen one day that cryptocurrency will be dominant than fiat but banks will stay and fiat will never vanish since not every people has the capability of earning cryptocurrency.

Norihiro

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APOLLOX Protocol

For me it is likely that it will finally happen one day. Even if now crypto is not in its best positions it still has very good chances to accomplish that in future...

Tramle091296

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Advantages
Makes Life more easy no more stress on paying taxes getting line up for paying bills tuition and any kind of stores and all of kinds of buying and selling stuff will be online since it was digital money.

Disadvantage
If someone can trace and saw what money you are holding you are in a not great situation that will lead you on getting hurt by the bad guys to get what you are holding. but i think knowing where are you is not possible.

All of this has a good and bad and for sure there's always a badguy that will cause a problem to get money to other people.

SpringfieldM1A

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Quote from: reighbut2017 on August 11, 2018, 08:49:03 PM

Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

I believe cryptocurrency can't replace fiat because the purpose of crypto is for investment only and is dependent on digital network to perform any transactions while fiat can be used anytime regardless of internet connection.

Exactly. Crypto currency is not yet in a position to outshine fiat because of so many reasons besides internet connection. There are many things that you do with the fiat or paper money that crypto is not possible to carry out.
Certain policies made to control inflation and unemployment are build around fiat and can only be used as long as we have fiat working in banks. If fiat is outshines by cryptocurrencies, the system will change and in the presence of crypt which is not a fiat, the policies would simply fail to work.

ngano ba

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Crypto if the time it will be legit ,it will not totally replace fiat money, it will just go with fiat money, because cryptos are only used to places where enough power supply and adequate supply of internet connection, but to the places where power supply is scarce and internet connection is limited then fiat money is still be usrful as a medium of exchange,

Crafts12

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

Fiat being replaced by crypto is hard to imagine. I think it is impossible to happen for a reason that not all the people will approve it particularly the officials. Also, if ever it will happen, the safety of our account and money will be at risk due to the vulnerability of its. Another one, people will have a hard time understanding and accessing bitcoin because not all of us are techy.

lendahawkins

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“The Future of Security Tokens”

The problem is the safety of our account, i believe when crypto replace fiat it means the value will be more stable and the transaction could be fast as fast using debit card. But the security of our account is so vunerable, or maybe there will be a wallet that cant be hacked.

jaaeeeyyyy

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Quote from: DAVETUN on August 12, 2018, 04:35:31 PM

Fiat is a currency, used and control by the government globally in several countries base on there economic factor, I do not see crypto replacing fiat as it is a different sector with a technological backing compare to fiat which is a currency legally backed up by a law in several countries.

Well lets not close this discussion. We can see the positive effect of using bitcoin. We can not really say that the only function of bitcoin or the crypto is to serve as an investment. There are establishments who are accepting bitcoin as a form of payment. Therefore bitcoin is slowly adopted and functioning as a currency. Well who knows what might happen next.

ejandjm18

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To be honest, i am not believe that crypto will replace fiat. Because Fiat will be the main currency use in the world market. Besides, a country needs real fiats or non-digital currency for daily living.

babarian

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I am not sure that cryptocurrencies will never replace the FIAT currency for any reason FIAT will remain the main currency used by humans in the world.

embargo

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Paper money by itself is short-lived, so it is natural that they will be replaced by a certain replacement of the monetary equivalent. It is possible that it is precisely the crypto currency prepared for this role, the role of world money.

CandyIzDelicious

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personally I do not believe that crypto will not replace fiat, in a country it needs a physical non-digital currency because many small people do not understand crypto development

Dimon8

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It is possible that in the future, which we do not see, this will happen. But it will be a smooth transition, which will take some time to be painless. There is a process of global globalization, and the transition to crypto-currencies will be beneficial to the world government.

patimahsunda

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I think Crypto will never replace Fiat. Because fiat is still very much needed by the community. And also bitcoin has its own place. Bitcoin is a digital currency and will not replace fiat.

aditasetia123

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Quote from: ufalo3 on August 14, 2018, 02:40:29 AM

Quote from: Andrej Peiboski on August 09, 2018, 04:17:20 PM

Surely the crypto are destined to win, but before replacing the cash it will still take a long time: to use the crypto we need a technology that not all have, and for many people cash is still the main monetary base.
We'll see what happens.

It can replace fiat partly, especially in most of the online operations. In real life, fiat will be welcomed more than the cryptocurrency - when you use traditional money, no Internet connection is needed.

that is right, for online usage such as for payment in online shop it can do.but in daily transaction it need long time to acceptable.regulation and legalization for goverment be main issue right now.and most of them still restric bitcoin as dailiy payment.

darewaller

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

Bitcoin is not going to replace fiat. If such a thing should happen then we are going to find it very difficult to cope with it. There are lots of people who don’t make use of internet, and lots of them that don’t have device like smartphone and computer.

So how exactly are you going to give money to those people. Fiat is here for us both physically, offline and online, there are banks and they all have mobile banking apps to make transaction and paying of bills quick and easy.

ufalo3

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Quote from: Andrej Peiboski on August 09, 2018, 04:17:20 PM

Surely the crypto are destined to win, but before replacing the cash it will still take a long time: to use the crypto we need a technology that not all have, and for many people cash is still the main monetary base.
We'll see what happens.

It can replace fiat partly, especially in most of the online operations. In real life, fiat will be welcomed more than the cryptocurrency - when you use traditional money, no Internet connection is needed.

Daseento

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I don't think crypto adoption will get to that level. I rather believe that it's possible for them to complement each other but to totally replace paper money is not possible. Secondly, some service providers allows you to generate a new wallet address, so tracking is definitely could be avoided.

kate.poisonglen

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blockchain marketing specialist

Cryptos will never fully replace fiat.
During the dotcom bubble in the beginning of 2000s everyone was talking about the internet fully replacing traditional means of communication.
Now the internet peacefully co-exists with usual mail, phones, telegraph, etc.

The same fate awaits cryptos. They will be implemented in those areas of life where they are truly needed and co-exist with bank cards and cash.

Also, with the current state of cryptos, mass adoption is not likely due to the network limitations.
7-8 TPS on bitcoin network, 15-19 on Ethereum, 47,000+ on VISA.
(https://pbs.twimg.com/media/Djm0457VsAAwZ9I.jpg)

EOS has good chances with its current maximum of 3,700+ (http://eosnetworkmonitor.io/). But the price volatility is still a huge stop-factor.

josephpogi

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Quote from: CptWhsikeyjack on July 23, 2018, 12:04:53 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.

for me it will not happen anymore because cryptocurrency is not a stable currency it is always changing because this is a type of investing and if you enter a lot of fiat money with a low price you will get a triple of your fiat if the crypto pump!

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