Crypto replacing fiat? - page 52. | Bitcointalksearch.org

Kita Kita

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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.

I don't think this will happen because we all work in the crypto world for a Fiat or to get cash. So what's the point of working in here if we won't get any cash or money? Maybe if there will be some changes in the whole world It can be possible to happen.

Siminarota

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crypto can not be replaced fiat, perhaps forever can not, crypto in my opinion can only contribute a small part in the payment of goods and services in our lives

liliano

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when all blockchain infrastructure has been integrated and education will greatly benefit from using crypto instead of fiat, there will be drastic changes in the world economy and not finance

permatasai

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it's very difficult when Crypto will replace Fiat ... Fiat's history has been hundreds of years ago and the public is very common using Fiat

win365

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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 now we are about to only imagine that because even the biggest newbie in the scripture world can certainly say that we are far away from being ready to that the currency and the users as well.

DiabolicAnt

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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.

21BTC100ETH

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I wish this can happen in future but our government will not allow it.

vagsun

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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.

Impossible!!!!! This is not possible that crypto will completely replace fiat. Every country has its Central bank which regulates their respective currencies, so central banks will not allow to disappear fiat.
But if we consider of a situation that crypto replaced fiat completely, then there will be many problems such as ,in those countries where literacy rate is too low ,people are unaware regarding how to use internet on smart phones or PCs. Moreover Old aged people would not be comfortable with paying their each expense through internet.

tylerderden

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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.

Well if everything happen in the favour of crypto then the government will definitely implement a few privacy features too in the world cryptocurrency. So there would be no incidents of extortion or anything like that. But this thing happening for real will be taking a lot of time and also a lot of trials as government always implement a system that is fail proof but sometimes a few bugs show up.

crazymadrounder

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Quote from: Reid on August 04, 2018, 11:48:40 AM

One reason why they ban it also in other countries. It will stop the large amount they are taking from the people's tax.

Exactly, with a crypto currency the governments can not enslave you anymore, so they will lose their power, taking into account that all governments by their very nature are the most violent group on the planet, probably do not let their power be lost peacefully.

changcloy

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I don't think that crypto will replace fiat , the two currency will forever exist especially fiat because normally we all used fiat money in our daily lives and we see digital currency as an investment since it has a big potential to grow, the two has their own ways helping us people.

Reid

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Quote from: Joe103 on August 04, 2018, 08:48:29 AM

It will be quite a very difficult thing for crypto to replace fiat. People still trust the fiat system more than cryptocurrency.

That is for now. It will happen eventually. We just cannot see it yet. Maybe we wont see it either but I have hopes my son will.

Quote from: Gaurav11kb on August 04, 2018, 08:55:26 AM

First of all, Crypto is never going to replace fiat, ever.

Second, hypothetically if this happens and Govts. are using crypto as fiat currency, then what is the difference between fiat and crypto. What would happpen with decentralization then?

They will have their own crypto. If it is digital then it is faster. There will be no more papers to bring everywhere you will go. Banks wont have to count the money they took from you. That is if they still exist.

If it is bitcoin which is going to be used then I doubt there will still be a government. If there is, then they should count on the people to pay them since everything will have privacy from then on.

One reason why they ban it also in other countries. It will stop the large amount they are taking from the people's tax.

crazymadrounder

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Cryptocurrencies are not made to replace fiat money they are made to replace governments.

ReiMomo

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This will happen for sure but it may take several years like 5 to 10 years for the transformation from fiat to crypto. There are so many obstacles in the way to replace fiat and crypto, mostly the obstacles comes from banking and financial institution since they will not be exist if crypto replaces fiat and due to that these institutions are misguding governments to ban crypto.

sempak bulong

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Fiat will not be replaced by bitcoin, bitcoin is too risky if its value drops dramatically. I think bitcoin is more suitable to be like gold, suitable for investment tools.

websoftwareengineer

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Blockchain with VTOS energy

Quote from: NinjaCryp on August 04, 2018, 06:43:30 AM

The goal of crypto is to create usability and efficiency for humans. People can choose crypto or fiat. as long as their use value is appropriate. There are no specific rules in crypto. But I do not think with its characteristic variability. It will not be able to replace fiat.

Maybe cryptocurrency will replace fiat in the future because there are a lot of people who are investing on it and that is one of the reason why bitcoins do really have the potential to grow even more in the future.

agimat

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Quote from: Gabali126 on July 23, 2018, 03:41:09 PM

I don't believe crypto will replace fiat. I would have love a situation whereby both will be used simultaneously. I guess it is best that way.

Its another story because crypto is a currency that used in investment in digital currency, while fiat money is originally made in circulation of the economy in government side.

fritzbird

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I agree with the majority here, it's a non-viable dream to think the
odds and possibilities of cryptocurrency replacing fiat
at any time. It's not gonna happen, though I
surmise crypto will have a lasting impact
in coexistence with fiat in the future.

Binmado

newbie

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Never, I think if fiat's crypto replaced there would be many dissenters, and crypto is not suitable for some uses.

itsik78

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BTC is not a form of cash and a viable asset. The reason is limited emission and high volatility, as well as lack of support from regulators. I doubt that this will happen in the foreseeable future

Topic: Crypto replacing fiat? - page 52. (Read 63527 times)