Topic: Crypto replacing fiat? - page 55. (Read 63527 times)
It would be a revolution if bitcoin or blockchain technology replaced our financial system. Bitcoin is working very well and has the potential to replace the current financial system but governments will not agree except for citizens to enforce it.
No one can force you to send your crypto but they can possibly track you with help of the ISP providers maybe ? But Crypto is definitely a safety net for controlling your own wealth and having a hedge against the collapse of the fiat system.
Well, you can have big money with you in form of crypto and this is somehow safer than fiat, so this doesn’t mean you are overruling fiat as a whole. You can’t just say fiat is going to end soon just because bitcoin would take the place. No, this never be happening, not in coming few years surely. But there can be a damage to fiat usage after so many years of establishing bitcoin. 
I'll tell you what guys, if the crypto-currencies and various blockchain projects will continue to develop as rapidly and we will eventually reach a mass acceptance of the blockchain, we all will become really rich and happy, as we will have a really interesting and favorite pastime which brings us great money, that's what makes people happy. And it doesn't matter will crypto replace fiat or not.
That is not about becoming rich, the question says what will happen if the fiat is ever replaced with the crypto currencies. The attitude that you brought in here is like an investor. But we need to think about it as general public as well. It could benefit us in lot more ways than what you think. (Profits)
It will help us improve the transaction system in digital way, new applications will emerge in the market all the time, and this will help the community to grow bigger and bigger always. The profits, investors, etc things will come later on.
Crypto can do something things better than fiat, but only very limited and specific things. For example, crypto beats fiat at being decentralized, but what value is that really? The world works fine on centralized fiat. It's a solution to a non-problem. Another example, crypto beats fiat at being trust less, which is tied pretty closely to being decentralized, but again, solution in search of a problem. One area where crypto does seem to function better is remittances. Value can be transferred around the world with ease and without significant fees. There are too many middle men required in the fiat system to make that work, but that single application hardly makes crypto a suitable replacement for the current system.
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 crypto will replace fiat in the future crypto is volatile and it will be complicated if crypto will be our international currency like how we avail simple products for example candies that have a low value how we avail that thru crypto coins, we must have fiats in our daily living and crypto cannot replace it.
I think its gonna be technology dependency.
Since bitcoin could only operate in a computer or a gadget, transacations will be limited. Without electricity or internet there would be no transactions.
Isolated areas were electricity is not a necessity might also be affected as they could have no means to transact.
Since bitcoin could only operate in a computer or a gadget, transacations will be limited. Without electricity or internet there would be no transactions.
Isolated areas were electricity is not a necessity might also be affected as they could have no means to transact.
It is indeed a future to have digital currency in our pocket rather than fiat money. We should be anticipating positively tht one day digital money will reign and fiat will extinct.
I think what you have said will happen in the future but not in the coming years as fiat is widely used all over the world. Maybe both can be able to use in the near future.
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 crypto will replace fiat in the future crypto is volatile and it will be complicated if crypto will be our international currency like how we avail simple products for example candies that have a low value how we avail that thru crypto coins, we must have fiats in our daily living and crypto cannot replace it.
It is indeed a future to have digital currency in our pocket rather than fiat money. We should be anticipating positively tht one day digital money will reign and fiat will extinct.
no, crypto cannot replace fiat because of the function of both. however, crypto cannot or cannot be used for online transactions. and crypto itself cannot yet determine a strong value.
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.
In the digital age, the bitcoin of a day can be a substitute for paper money. However, it will appear frequently in large transactions from large enterprises before becoming commonplace in everyday trading. This will happen in the years to come so be patient and use your bitcoin number reasonably.
I think that over the next five years, the fiat currency will lose its relevance in the developed countries of the world. But I can not say the same about developing countries, where traditional foundations still prevail. In order for crypto currencies to become embedded in everyday life in such countries, it will take more time. Bitcoin and other crypto-currencies need to become so demanded that there simply will not be any reason to use the fiat currencies.
I'll tell you what guys, if the crypto-currencies and various blockchain projects will continue to develop as rapidly and we will eventually reach a mass acceptance of the blockchain, we all will become really rich and happy, as we will have a really interesting and favorite pastime which brings us great money, that's what makes people happy. And it doesn't matter will crypto replace fiat or not.
That is not about becoming rich, the question says what will happen if the fiat is ever replaced with the crypto currencies. The attitude that you brought in here is like an investor. But we need to think about it as general public as well. It could benefit us in lot more ways than what you think. (Profits)
It will help us improve the transaction system in digital way, new applications will emerge in the market all the time, and this will help the community to grow bigger and bigger always. The profits, investors, etc things will come later on.
Fiat very firmly sits in the minds and it will be difficult to abandon him in the shortest possible time.
It is unlikely that fiat is now considered to be the most liquid, there will not be any coins that can replace them in the present and in the future.
Things are evolving with time and that the modern technology is taking over the old methodology. There are likely chances of this thing to happen and that you can expect that these crypto currencies will replace the existing currency system and that this will surely help in so many ways and that this will change the basics of the economy completely and then we can expect a better economy rate. 
I think that such development is quite possible. The problem is that Fiat has become very much stronger in the minds of his years of existence, that he will not leave quickly from his place
It can replace fiat currency because a lot of people now are using bitcoin even the businessman's are invested on bitcoin so probably digital currency will replaces soon and government will launch their own digital currency for everybody.
I think bitcoin will never replace fiat, because Experts agree that bitcoin will not become dominant, because bitcoins are unstable to become a reliable currency. 
I don't feel anything about cryptocurrency that they are replacing the fiat currency because if they are really replacing the fiat currency then we can easily see that the usage of fiat currency will gradually go down and the government will also see that loss in usage of fiat currency and announce it to the public for sure.
That's not gonna happen you know why? because fiat is the historical money that we have and many people still depends on this currency and many know it a lot more rather than digital money that will loss after a decades so literally fiat currency will not replace..
Jump to: