Topic: Crypto replacing fiat? - page 57. (Read 63502 times)
Crypto replacing fiat money is still very very far. I don't even see the possibility in the near future. Crypto might gain a wide and world acclaim acceptability but not to the extent of replacing fait
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.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. 
The introduction of CryptoCurrencies is a sign of Freedom, away from Fiat Money. I sense Bitcoin will grow further and deeper acceptance by the general populace, as Trust be more they embrace.
I think it's very unlikely because fiat is a very long currency and many people use fiat so I'm sure bitcoin will not be able to replace the fiat.
As i see Crypto has already won the numbers (it's way more valuable than the dollar, and even gold), the rest is just a waiting game. If you want your crypto to make you rich then just get as much crypto as you can and hold onto it. Wait for more people to catch up with the technology. And wait for the technology to become more user-friendly. Because by that time the supply and demand mechanism will have raised the prices way beyond what anyone anticipated.
Cryptocurrencies surpass fiat currencies at some point in the future. One important consideration is that cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status. Beyond that, cryptocurrencies could better support the concept of a universal basic income than fiat currencies would. As a matter of fact, some programs have already experimented with the use of cryptocurrencies as means of distributing a universal basic income.
Fiat money's easier to use, especially because not everyone is as techy as the others to understand crypto. But somehow, cryptocurrency and fiat money work hand in hand with each other. So even though crypto is the future of money, it's still impossible to totally abort fiat money.
as long as we still use fiat, fiat will still exist among us and maybe crypto can also be used for the transaction in our real life and who knows, crypto and fiat can work together for the payment transaction. I imagine that we have two option for the making a payment and we can use fiat or crypto in the same time and there is no problem with the store and I hope that in the future, we can see this is happening.
Fiat money's easier to use, especially because not everyone is as techy as the others to understand crypto. But somehow, cryptocurrency and fiat money work hand in hand with each other. So even though crypto is the future of money, it's still impossible to totally abort fiat money.
if fiat will cease to exist, that means all our transaction will be made over the Internet. and when it happened, the security of everyone will be at risk. because Hackers and scammers will do everything to steal from every people in the World. and I think it will also affect the World's Economy.
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.
Even the growing popularity of cryptocurrencies will not replace fiat money. Probably these currencies will exist side by side. It does not seem possible for governments to completely abandon fiat.
No crypto can replace fiat, fiat is highly liquid and easy to use, suitable for many objects, not easy crypto can be widely used, while crypto has not been the world widely accepted
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 know what it will happen soon in the future.. That cryptocurrency will replace tha fiat money especially now that a lots of people knows how cryptocurrency works and how important it is in the future.. This will become great if it the government will support us with this... Because if they are the one who will help us and if it is truly legalize by lots of country bitcoin will surely replace our fiat money...
Another thing that's wrong in your post is that you mentioned that legalizing bitcoin will surely replace fiat money. First of all, it doesn't. In Korea and Japan, bitcoin is legal. These are two major countries when it comes to the online world. Yet, we don't see Japanese Yen and/or Korean Won getting replaced by it. (You can check the legality of bitcoin per territory here.)
I don't see bitcoin invading a good percentage of the population especially now that we still have a digital divide going on. There's a lot of new users coming to the bitcoin world these days. On the other hand, there's just not enough people yet to make crypto replacing fiat possible.
Although cryptocurrencies are getting popular worldwide I still believe that it can't replace our fiat money. It remains a digital money with the same function as our fiat money which is used for purchasing goods and services, online shopping, buy loads and bills payments. Crypto especially bitcoin is merely an alternative money for our fiat money. Both crypto and fiat will go together and exists forever.
I agree with you fiat will exists and I think it cannot replace by crypto. Both has good features and really useable by everyone. So fiat is still important and also very helpful to those non techy person.
Although cryptocurrencies are getting popular worldwide I still believe that it can't replace our fiat money. It remains a digital money with the same function as our fiat money which is used for purchasing goods and services, online shopping, buy loads and bills payments. Crypto especially bitcoin is merely an alternative money for our fiat money. Both crypto and fiat will go together and exists forever.
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 know what it will happen soon in the future.. That cryptocurrency will replace tha fiat money especially now that a lots of people knows how cryptocurrency works and how important it is in the future.. This will become great if it the government will support us with this... Because if they are the one who will help us and if it is truly legalize by lots of country bitcoin will surely replace our fiat money...
Then it would be the same thing as if using the fiat currency because there will be no different purpose of it rather than paying for the stuff. I guess we can not say whole crypto currencies replacing the fiat because each and every coin that you see in the market is not made for the currency purpose but also made for utility purpose only limited to their own platforms. So lets say bitcoin is the currency replacing whole fiat, then it will be just next fiat with units divided in the Satoshi and carrying huge value against it. I dont see any major change in that nor anything innovative.
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.
unlikely, your imagination is too far away, the FIAT currency will never disappear. although some of the uses of the FIAT currency are being replaced by crypto currency. but I'm not sure if the FIAT currency will really disappear completely. because there will be a big problem if the FIAT currency is lost. not everyone can make transactions using crypto currency.transactions with crypto currency will require internet connection and not everyone in this world can access internet
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.
Your topic does not really do have an effect on reality. Fiat will exist and cryptocurrency will be the second type of currency which people can use in their everyday lives. Crypto replacing Fiat will never happen.
Personally, I will never see this happen. Crypto will exist but fiat will exist as well. They will co-exist because they have different features.
We both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?
We both need fiat and crypto. In my opinion, we can reap the benefits of both crypto and fiat so why any of the two should disappear?
But as you can see sooner or later the fiat will positively replace by crypto and digital wallet so on and so forth, have you aware of the implant like a usb?, on the person wrist?, which it will be the new paying system though.
And right now there are tons of country that implementing it. On the other hand yes it has a bad effect but nevertheless i think it will serve as a concept of the future.
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