Topic: Crypto replacing fiat? - page 48. (Read 63527 times)
In the past the people were paid in cash or fiat money while now the big business accept bitcoin and crypto for making business deal so we can say that it is the currency which is used for payment through out the world and through this currency big purchases like for jet also paid.
For cryptocurrencies to replace Fiat money, this will require a lot of time and people's understanding that we can control financial flows well and not depend on state institutions, many mentality will need to be changed.
If crypto currency manage to replace fiat currency which we know that is unlikely to happen. Crypto would rise and reach an exceeding high price value when it became a main stream currency and it would increase the number of wealthy crypto users. But some problems may arise like scarcity, rules and regulations and taxes.
I doubt if crypto can actually replace fiat. It may not be possible because fiat is supported by the governments but crypto is not. That i think is the only difference.
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.
Hiding identity : If you don't specify your identity, nobody can't know who you are. Also, there are mixers, you can eliminate tracks. Only numbers and words.
Paying minimum fee : Without cryptocurrency you have to pay a lot of money to Banks for sending money. The fee increases according to the location.
Speeder transactions : Today for sending money to remote places you have to go bank and receiver should wait at least 15 minutes.
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.
You of course fantasize!
First, bitcoin will not be able to replace Fiat money completely. It will be able to replace the maximum non-cash payment and credit cards.
Secondly, many people will be against to remove Fiat money, for them it is not convenient.
Third, many countries create their own cryptocurrency, which will be partially Fiat, since not all segments of the society are able to accept cashless payments in crypto-coins.
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.
We'll see what happens.
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.
Crypto replaces fiat, it's the same as dependence on the internet. imagine if that happens, a country will depend on a group of IT experts, then what about bandwidth? I think this is not positive if all countries change their fiat money to crypto.
Crypto will never replace Fiat, it will be just another payment method
Now that's actually a tricky question. It's true that your privacy will be greatly compromised if you choose cryptocurrency network but it is also true that you can switch between different addresses whenever you want so tracking you down is not actually that simple, as the service or the hacker has to We track you every time you switch an address. On top of all of this, they still have to assume that, that address is yours and they have together witnesses and proves to confirm that.
Cryptos haven't replaced the fiat yet and it won't in future too as many economies have declared it as an illegal tender. Without complete support and consistent flow cryto cant replace the fiat . Hope you got me! 
There is nothing in this world which you cannot expect to happen and that you never know what will happen after sometime. However, I am very much sure that these crypto currencies can be much more beneficial for the economy and that they can help us in much better way than that of the fiat. The day government will support these crypto coins will be the day we will see crypto currencies taking over the regular currencies.I think choosing the cryptocurrency as a full-time job is bit risky and not affordable.
What you're doing is just depending on cryptocurrencies ever thought many agencies and government are against it?
They're looking to take it down what would you do then? Better to move on and choose the job.
This notion of cryptocurrency replacing fiat is a misplaced thinking. To me, cryptocurrency is best suited for peer to peer payments, especially across national borders. It is swift, less expensive and at your convenience. But to say it will replace fiat, I don't think so.
it is impossible to replace fiat. because government won't allow such system that they can't control or monitor. may be in future government can launch their own digital currency which is different from fiat and similar to crypto currencies. it will make life faster and transactions will be automated and super fast.
Cryptocurrency is disrupting the financial system because it has quite a number of advantages over the conventional currency such as the dollar. By eliminating intermediaries, digital currency gives you more control of your finances. Besides, it can be used as a hedge against the inflation of the dollar. Most cryptocurrencies are also extremely secure due to the use of dual-sided cryptography for every transaction
Although some goverment or company in the world do not approve the Crypto but in think in the near future, it will be accepted and replace the role of fiat in the economy or banking. It is the same as the card was replaced the cash in the past.
It does not seem quite certain that crypto will take over the role of Fiat. Governments or banks have no interest in the widespread use of crypto. Blockchain probably will use the transaction, leaving crypto somewhere on the sidelines.
Although some goverment or company in the world do not approve the Crypto but in think in the near future, it will be accepted and replace the role of fiat in the economy or banking. It is the same as the card was replaced the cash in the past.
It does not seem quite certain that crypto will take over the role of Fiat. Governments or banks have no interest in the widespread use of crypto. Blockchain probably will use the transaction, leaving crypto somewhere on the sidelines.
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.
Crypto currency is not able to replace fiat. This can not be ever. Ordinary national money is issued at par value in an amount equal to the available material values in the country. If paper money is issued more, inflation will arise. Crypto currency is not tied to the economy of any state at all. How can it replace national money? These are just ordinary fantasies that have nothing to do with real life.
I dont think it will happen in the future but bitcoin has a better future and there is no problem if bitcoin become the leading currency.
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 am sure 100 percent that it will not happen anymore because fiat is very usable to all than crypto but maybe? after 200 years? maybe crypto will replace fiat because now fiat is stable so people used this to pay something and to buy something and in crypto this is not stable than fiat so fiat helping crypto to increase the value of this. 
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.
That could be possible in the near future for eg. 80% irrelevant but should help you to understand. Trades between Androids and humans after a few hundred years.
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