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Topic: Crypto replacing fiat? - page 5. (Read 63527 times)

full member
Activity: 868
Merit: 185
Roobet supporter and player!
July 21, 2019, 01:24:23 AM
I wish this can happen in future but our government will not allow it.
Seems like your concept is contrary to what you want to say. Yes, it could be possible for crypto to replace fiat currency. As long as it will become favorable with the cryptocurrency, but as of now the government seems to be unhappy with crypto. In addition, the continuously growing rate of scam projects become the obstacle to attain the goal of crypto. And it is the reason why many governments don't want to use cryptocurrency in their country.
full member
Activity: 241
Merit: 100
May 30, 2019, 04:21:28 AM
It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.
I think it can happen but sometime when it happened because in various parts of the world fiat money is still being used ... moreover about people who are unfamiliar about crypto they will find it difficult to accept the need for an approach to all groups
if that happens, I think there will be instability in the economy. a country also needs fiat, while bitcoin is an exchange tool that has become international. I don't think this will happen, and there are still many shortcomings for bitcoin to replace Fiat.
member
Activity: 770
Merit: 12
Trphy.io
May 30, 2019, 02:42:14 AM
It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.
I think it can happen but sometime when it happened because in various parts of the world fiat money is still being used ... moreover about people who are unfamiliar about crypto they will find it difficult to accept the need for an approach to all groups
I think for Fiat to be Crypto has a high difficulty. where with crypto the government cannot regulate it. and whether the government is willing for this. because until now no government has volunteered it, even though it legalized crypto
sr. member
Activity: 784
Merit: 252
May 30, 2019, 01:39:43 AM
It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.
I think it can happen but sometime when it happened because in various parts of the world fiat money is still being used ... moreover about people who are unfamiliar about crypto they will find it difficult to accept the need for an approach to all groups
hero member
Activity: 2940
Merit: 613
Winding down.
May 30, 2019, 01:36:40 AM
I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
I agree with the opinion you convey and in my opinion the government will later adopt an economic system that is used for crypto currencies and may be used to make fiat currencies develop along with technological developments
If crypto will be popular in the future, the government can make their own crypto, and people will use it, and I think it's more like an stable coin. The government knows crypto, but they don't want people to get anonymous in using it, they like to monitor us people, so they would not allow that we will be using bitcoin or other popular crypto as that would defeat their purpose.
hero member
Activity: 2170
Merit: 503
Reward: 10M Shen (Approx. 5000 BNB) Bounty
May 30, 2019, 01:15:26 AM
This may not happen soon not even in the next 50years because of villages and some community that have limited access to education and technology. Both can work side by side, total replacement is still a long walk to hold.

and again crypto does not have a stable price for a long time, even it is unthinkable if crypto is able to have a stable price in the future, there is still much that must be developed in crypto if there is a future prospect to replace fiat, but i'm sure it doesn't will happen
basically it's very difficult to make the fiat a volatile exchange tool quickly. however, people need something stable to become a currency. so, maybe this is still very difficult to think about. but, many people use bitcoin as an alternative payment on the internet.
legendary
Activity: 2282
Merit: 1023
May 29, 2019, 07:49:27 PM
It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.
Do you mean the will replace fiat currency and come up with a centralized currency, that is a real possibility in the next 50 years but never think about that revolution to take place anytime now, majority of the government are trying to make things digitally to have a complete control over their citizens and if they come up with a centralized crypto the government will have the upper hand to monitor every transaction, but i do not think it will be a realistic thought process.
legendary
Activity: 1568
Merit: 1002
May 29, 2019, 06:31:56 PM
This may not happen soon not even in the next 50years because of villages and some community that have limited access to education and technology. Both can work side by side, total replacement is still a long walk to hold.

and again crypto does not have a stable price for a long time, even it is unthinkable if crypto is able to have a stable price in the future, there is still much that must be developed in crypto if there is a future prospect to replace fiat, but i'm sure it doesn't will happen
sr. member
Activity: 1610
Merit: 406
PredX - AI-Powered Prediction Market
May 29, 2019, 05:53:16 PM
I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
I agree with the opinion you convey and in my opinion the government will later adopt an economic system that is used for crypto currencies and may be used to make fiat currencies develop along with technological developments
sr. member
Activity: 1092
Merit: 269
May 29, 2019, 03:23:21 PM
I think not, fiat money will never be replaced by bitcoin.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
for now it is impossible that this will happen because the development of crypto currencies has not been fully accepted by all countries and my belief that the development of crypto currencies will be rapid and later it will not even be possible to replace fiat currencies and none of them can know for sure
sr. member
Activity: 1246
Merit: 255
Leading Crypto Sports Betting & Casino Platform
May 29, 2019, 12:48:23 PM
Cryptocurrency replacing the fiat might happen but when this is gonna happen is truly very far from the present. There is more and more acceptance and adoption as well people were getting much attached and willing to be the part of the cryptocurrency user community. This I found in a video where random people were asked whether they take cash or cryptocurrency if offered. Majority has chosen cryptocurrency and even the people who haven't known about show interest on trying it.
Source : YouTube, Link : https://youtu.be/exRCX38tHks
member
Activity: 845
Merit: 52
May 29, 2019, 11:43:03 AM
This may not happen soon not even in the next 50years because of villages and some community that have limited access to education and technology. Both can work side by side, total replacement is still a long walk to hold.
hero member
Activity: 1078
Merit: 501
May 21, 2019, 01:07:42 PM
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

I guess that a few people use crypto instead of fiat even now. Nevertheless, if we speak about the whole society, it is not possible that virtual money could ever replace traditional currencies. People need fiat more.

Right, the government has been controlling the financial system of this world, fiat is the most popular now and even if bitcoin is gaining popularity, fiat will still be widely use by the people, and that's because of the trust since it's the government that created the money.

Bitcoin on the other hand is decentralized, we cannot force people to use to as it's not also regulated and this should not be in full regulation since it's purpose is just a payment system which is an alternative of fiat.
For me crypto currency has become more famous to buy and to sell goods than fiat and most of my friends are using bitcoin as compare to fiat, having so many bitcoin we can carry with us and can reliably use whenever we want but having fiat can put us in danger of life so better use crypto or the bitcoin only as our future is connected to it.
hero member
Activity: 3010
Merit: 666
May 21, 2019, 12:12:18 AM
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

I guess that a few people use crypto instead of fiat even now. Nevertheless, if we speak about the whole society, it is not possible that virtual money could ever replace traditional currencies. People need fiat more.

Right, the government has been controlling the financial system of this world, fiat is the most popular now and even if bitcoin is gaining popularity, fiat will still be widely use by the people, and that's because of the trust since it's the government that created the money.

Bitcoin on the other hand is decentralized, we cannot force people to use to as it's not also regulated and this should not be in full regulation since it's purpose is just a payment system which is an alternative of fiat.
sr. member
Activity: 994
Merit: 252
May 20, 2019, 02:44:31 PM
I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.
It is believed that digital money is very easy to store and can be used more quickly even for transactions. but we know that there may still be many countries that are not familiar and recognize as legitimate transactions. so it still takes time if digital money will be able to replace fiat.
Truly it takes time but for me this isn't hard as should be obvious even now individuals have begun to utilize cryptocurrency more than fiat now, every day more stores are accepting crypto currency  and a similar route estimation of digital currency is getting down so I am sure one day in my country fiat cash will move toward becoming disappear and just digital money will be there to use for online and offline purchasing.
full member
Activity: 714
Merit: 114
May 20, 2019, 04:01:38 AM
mostly the connection between cryptocurrency and the normal currency is not happen
it does happen now . Crypto and fiats have a connection because cryptos are measured in fiats and will also be converted by fiats .  People also uses a fiat to buy or cash in cryptocurencies on their accounts   .

the possibility of beat and the normal currency from the development of cryptocurrency is not available in any situation and moreover the people in this world more trusted the normal currency only.
Not all people trust normal currency because some people think that the governements and banks are only benefiting the most when they used fiats  . This why satoshi had a vision to create the first crypto called bitcoin because he wanted to have a currency that is decentralized    . In the future there is always a possibility of cryptos to replace fiat  because the technology and the world is also evolving  .
member
Activity: 292
Merit: 10
Harmony for One and All
May 20, 2019, 01:13:23 AM
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
if fluctuations don't end with stability that has good fundamental character, this will end with a weakened economy and many impulsive problems that cannot be resolved quickly.

I guess that a few people use crypto instead of fiat even now. Nevertheless, if we speak about the whole society, it is not possible that virtual money could ever replace traditional currencies. People need fiat more.
In relation to virtual currencies (fiat), this has begun to become familiar and has even begun to be structured from the banking channel and third-party application developers. Crypto will be popular afterwards because it is connected with people who are familiar with online transactions who are finally interested in trying it out.
legendary
Activity: 2212
Merit: 1008
May 19, 2019, 02:05:35 PM
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process

I guess that a few people use crypto instead of fiat even now. Nevertheless, if we speak about the whole society, it is not possible that virtual money could ever replace traditional currencies. People need fiat more.
member
Activity: 1204
Merit: 38
May 19, 2019, 01:10:14 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.   
mostly the connection between cryptocurrency and the normal currency is not happen in anytime so it will not been crossing in any line so the possibility of beat and the normal currency from the development of cryptocurrency is not available in any situation and moreover the people in this world more trusted the normal currency only.
hero member
Activity: 1134
Merit: 500
May 19, 2019, 07:47:11 AM
It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.
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