Topic: Crypto replacing fiat? - page 58. (Read 63502 times)
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.
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.
We only say that or imagine, because for now everybody knows that cryptocurrency is for not ready to replace the existing system, it is too volatile, it is too unstable, it is not trustworthy at the end. 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 don't think so that in near future such thing can happen. Bitcoin is a virtual currency and many people still doesn't believe on this. Bitcoin is not a global currency. It is not accept worldwide. In many country it is ban because of its decentralised nature and association with criminal activities. Because of above reason i don't think so it can replace fiat currency. Another reason is its volatility because of this its increase risk in investment market. Cryptocurrency is runs over a complex algorithm because of this many people still doesn't believe on this. Because of this above reason it cannot replace fiat currency. because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
If cryptos actually replace fiats then it will split in two different directions, one direction will be very convenient because when traveling or shopping and more ..... then we just need to take the phone it you can pay for the whole, It must be integrated and familiar with everyone because they are accustomed to using fiats rather than cryptos..
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.
All must have a transition period, a very simple example of an investment. First, they have gold, gems ... then they move to real estate, then to the present is Crypto, there will be another thing for them to move money through.
Nothing is impossible, Crypto and fiat are the same destination no one can replace anyone
Nothing is impossible, Crypto and fiat are the same destination no one can replace anyone
It will take many years for cryptocurrency to take the place of fiat, in my opinion. But in a shorter time, the use of cryptocurrency will increase greatly, and anyone with a mobile phone will be able to use cryptocurrency with ease.
Right.There are still chances that crypto will replace fiat currency but that time is still uncertain.So let's not make it a big deal.What important is that cryptos are already conquering some countries and made it legalized already.Hopefully it will be legalized also the use of cryptos in my own country.
I think it will not replace fiat for quite long time. i could not imagine my grandfather handling crypto. so still there is a lot of work to do to ease the whole process for everyone! How do you want to make children pay for stuff? Will there be prepaid crypto cards? But in the future I think when the developers find solution for all these little things, then yes one day crypto could really replace fiat. i dont know if in 10, 20 or 50 years?
It will take many years for cryptocurrency to take the place of fiat, in my opinion. But in a shorter time, the use of cryptocurrency will increase greatly, and anyone with a mobile phone will be able to use cryptocurrency with ease.
Right.There are still chances that crypto will replace fiat currency but that time is still uncertain.So let's not make it a big deal.What important is that cryptos are already conquering some countries and made it legalized already.Hopefully it will be legalized also the use of cryptos in my own country. 
There are so many possibilities in here if the cryptocurrency will remove or replaced FIAT currency there are some people that doesn't want to use it because they don't know. There are some good deeds it can provide like the faster transactions to any people who use it. But before that happen for sure it will gonna be world discuss.
There will be a huge debate about this thing for sure, and I know this will not happen easily. I actually don't see cryptos to replace fiat, if that is the case cryptos will become more centralize so for me its not a good idea to replace fiat. Better to make a healthy competition with it and let people decide on what to use base on their liquidity. The government has not fully accepted the crypto digital transaction with its country. They are responsible regarding the circulation for general Tender of FIAT, They regulate and implement the financial rules. Replacing FIAT is not possible at least for now. Look at the news on the issue of Regulation being confronted by Crypto by countries whom so critical about the used of crypto currency digital transaction.
crypto replacing fiat won't happen but fiat helping crypto will happen and people will convert more to cryptocurrencies in the coming future
It will take many years for cryptocurrency to take the place of fiat, in my opinion. But in a shorter time, the use of cryptocurrency will increase greatly, and anyone with a mobile phone will be able to use cryptocurrency with ease.
Going digital would pose many problems for the people (especially the elders) who are less tech-savvy; they would get exploited by hackers and scammers. Besides, transaction time for cryprocurrencies are far from instant and micro-payments are usually not possible, and if it was, it would cost more than paying in fiat.
Yes you are right and that is the reason why banks will be still useful in the future but cryptocurrency will be already part of our life since it was useful for different people's life..
I think this will not be happend because many country banned cryptocurrency,I love where bitcoin now and where fiat now.
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.
Crypto currency is simply not a substitute for ordinary national money. No sane government will do it. Such a decision would contradict all economic principles. If this happened, the Crypto currency would very quickly disregard the economy of any strong state. The economy would have become simply unmanageable. It's hard to even imagine what it can lead to. I would not advise putting such experiments on the whole state.Crypto currency can only go in the state along with national paper money and no more.
It would be very difficult to see fiat is still very much used for transactions in the crypto currency appeal. But the crypto currency is growing every year as the demand is growing, maybe in the future crypto currency can replace fiat.
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.
Crypto currency is simply not a substitute for ordinary national money. No sane government will do it. Such a decision would contradict all economic principles. If this happened, the Crypto currency would very quickly disregard the economy of any strong state. The economy would have become simply unmanageable. It's hard to even imagine what it can lead to. I would not advise putting such experiments on the whole state.Crypto currency can only go in the state along with national paper money and no more.
well maybe someday this thing will be happen, because we are know cryptocurrency are the future of the money transaction method with high speed and eficiency and with this can make the cashless society even more realize in the 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.
will never happen, because both have different functions and uses.depending on the need, and both equally have their respective advantages and disadvantages.
It will be difficult for cryptocurrency to replace fiat, also it may not be good for us to depend completely on cryptocurrency without fiat. This is because the two systems have their merits and demerits. It is true that crypto transactions are preferable in long distance transactions as their are no boundaries. But Fiat will be preferred for offline transactions when internet may not be available.
Jump to: