Topic: Crypto replacing fiat? - page 56. (Read 63527 times)
This will not be happen. Cryptocurrency is the evolution of money but it will not replacing the fiat. Cryptocurrency will be an additional option as a mode of payment.
It seems very hard for Krypton to take the place of money for real. This can take many years to become. And that time is also very variable. Crypto can be a common currency. But the whole world needs to accept it.
Absolutely this is not possible in near future. Crypto might not be able to replace fiat as long as all the people around the world have access to technology and are able to use crypto as alternative to fiat. Besides, countries tend to have a unique profile from others and this is the reason why fiat will still survive even if Bitcoin starts ruling. Bitcoin can be used as international currency but it will never be the national currency of a particular country and every country around the world quest for their national identity as well.
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.
At some point crypto coins will replace the fiat ones, there is no doubt about it, but regarding the problems we will confront, it is hard to say, it is needed a good imagination.
Never, Fiat is the currency of our payment since centuries ago.
and it can not be replaced by a currency that has only been out for a few years, and besides bitcoin is better suited for investment I think.
and it can not be replaced by a currency that has only been out for a few years, and besides bitcoin is better suited for investment I think.
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.
is unlikely and will never happen. just leave them both as they are today.because they have different functions and uses.
It is hard to know whether crypto can replace fiat or not. Since bitcoin was created, the cryptocurrency has been improved so many which are promised to bring us a more efficient payment system. However, there are still many issues inside of the cryptocurrency. As you can see, not all of the people know how to use the computer correctly and thus, their money can be stolen by hackers. If we want to use cryptocurrency as our main currency, people have to understand the computer and schools need to teach people about 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.
I thinks we create an imaginary vision towards the future of digital currency system through our mind,and i thinks all this become possible if crypto become regulated and legalized that's all your question can be answered but in the situation thats maybe can anyone can see your asset when you using the public ledger,i thinks everythings have its limits in order to become regulated and by this situation i thinks its private and no one can see our holding investment.
Fiat can not be replaced I'm sure, because fiat is very closely related to the economic history of a country. So I'm sure fiat will not be replaced though in the future cryptos will be much better. Everything may happen, but for fiat I'm sure it will not happen.
Bitcoin and fiat have different uses and I think fiat will never disappear because bitcoin, fiat will continue to exist and will remain in use as currency because its value is more stable. I think bitcoin will be used as an asset because it could be more profitable.
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.
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.
very impossible. because crypto will never be approved worldwide. the world only recognizes if crypto is just a digital asset.look at many countries that forbid crypto because there is no law that approves crypto.
if such a thing happens than I believe that instead of decentralization we would have a full centralization where every spending and earning would be tracked and people would work only for taxes and governments .
I don`t think crypto will replace fiat because the way people use crypto is not as an currency or money, but as an asset just to earn profit. So we can say that cryptocurrency is not money at all, it is mostly an asset. That is why crypto will not replace fiat.
I think that at any time crypto will never replace fiat, this is because the state will do everything to protect the fiat, crypto will only be a companion and complementary for easier transactions.
If all of the fiat money was replaced by digital I think the corruption and criminality would arise. It would be more difficult to track down transactions. No one will know who owes and what money, which might lead to a chaos. How do you expect accountants to do their job, if all they knew about a certain bank account would be a bunch of characters? And, also, if every fiat currency was replaced by digital, but still it would be the government, who regulates the system - then what about all of the alts and BTC, that we use now? Would the governments let people use it then? I don't think so. And what about the taxes? Anyway, I don't think that there's any point in changing all of the fiat money to cryptocurrencies.
If ever cryotocurrencies completely take over and replace fiat, there is no way that the government will allow such as the things you are saying. There will be a way to track down digital money because there is no way that the government will not regulate it.Btw, even with cryptocurrency we are still paying tax. Even at this moment.
And there is a very huge possibility that by the next few years, people will then prefer transactions made online or usung digital money for convinience. The world is fastly evolving and so is the technology.
In such a case - either the whole economics will crash, or cryptocurrencies won't be anonymous and won't have most of the advantages that they carry now anymore.
I can't imagine the whole economic crashing. Surely experts can do something to prevent this. As for the current adavantage and characteristics of todays crypto, I agree that soon it will change accordingly to what is best suited once crypto take over the world. I'm sure there will still be versions of crypto in the future which can be used with anonimity.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.
The first thing that I am seeing is the danger to people's anonymity, obviously the national currencies (national cryptocurrencies) will be engineered in such a way as to enhance the control of governments over their people. Thus I think that the crypto should be a multinational addition to national fiat money, in our best interest. Just like bitcoin is today, but with a wider adoption. 
Perhaps the moment when the crypto currency will drive out the Fiat money is not far off. And we live in its vestibule.
Replacing fiat currency is hard but the cryptocurrency is growing and spreading all over the world and will work almost in all the countries in future. However fiat currency will not replace completely by the cryptocurrencies but the systems will change to make stable situations for the use of both because it will be difficult for those people to use cryptocurrencies who do not understand it.to replace the fiat. So I suggest to starting from now we all had to learn about the world of Cryptocurrency.
I don't think so, Crypto has a good trend, but it doesn't mean it can replace fiat.
Well, i think if crypto currency repaced fiat. We would be walking around with some sort of credit card in our hands and all transactions will be done through that. Of course we would still banking so internet access in homes are a must and everyone would have hardwares at homes or on their phones to access them. I think it would be great.
Well you can’t just make any statement about crypto. Maybe it will be the only supreme currency being ruled over every country in future. And may be crypto and fiat both combines to make a strong world where currency have got much tremendous power. So, decision is all based on your thinking. But yes, there will be more influence for fiat in future.
Personally, fiats and cryptos are important, they will exist in parallel. Fiats can be reduced rather than completely disappeared. Because using currency is my habit and many people change it if I need a lot of time.
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