Topic: Crypto replacing fiat? - page 6. (Read 63527 times)
Cryptocurrency can not replace fiat, it is simply not capable of it. The decision to abolish national paper money can only be taken by the legislative body of this state. Without this cryptocurrency is not able to do this. The state will never give up its national money, although paper money may eventually change to more advanced forms of national money. Cryptocurrency and national money of the states will be forced to exist together and can influence each other.
Fiat has legal power because it is a symbol of a country, fiat will survive and it is not easy for bitcoin to eliminate fiat.
And you are saying like Bitcoin can take over?
Even with the development of Bitcoin in the future, I don't think it will be replacing the fiat that we know but if we will be talking about cryptocurrencies, that is a possibility since as I always say, our future is leading to it. Bitcoin will be existing beside those cryptos that will be used as a legal fiat of a country, but I think that will be a long time.
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
Yes, that’s right. For now crypto is for investment purposes only. If the time comes, when many people adopt crypto and can understand its purposes and its usage, we can live in better place like what you said.
I think both will remain and coexist, and it's difficult to replace fiat with crypto or almost does not occur within the next 10 years, in some countries it prohibits crypto and crypto is prohibited in my country as a legal payment instrument, but may be owned.
Fiat has legal power because it is a symbol of a country, fiat will survive and it is not easy for bitcoin to eliminate fiat.
I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.
It is believed that digital money is very easy to store and can be used more quickly even for transactions. but we know that there may still be many countries that are not familiar and recognize as legitimate transactions. so it still takes time if digital money will be able to replace fiat.
I don't think crypto will replace Fiat. I think they will work hand-in-hand. There are still some flaws in the crypto world that has built fear in the minds of people. Volatility is one of those and it's going to be a hard one to control for a global currency. There is also the issue of security of funds and so on. In my opinion crypto is and will only give people a choice of storing value.
if Fiat is no longer valuable, crypto will have a strong sentiment as a substitute, but basically, there is no strong backup and in the end it will be useless too. There is a transition period where gold will dramatically return to the best, but chances are that if it succeeds in developing, crypto will be used with a golden role behind it, Fiat will be ruled out.
I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.
I am bot sure about that. My opinion is Fiat will disapear. You can some of fiats are not valuable, for instant you can read articles about bolivar. All of fiat has the same destiny as bolivar. I am very sure that fiat will be replaced by gold, but not in term of main currency that we use but in term of country's reserve currency. Actually USD will be useless if there is no agreement about buying oil from arabian that must use USD. I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
It is clear that with crypto payments will be faster and more measurable and process faster. but there is also a problem with crypto replacing fiat, because there are still many countries that have not been able to accept crypto transactions as legitimate transactions recognized as legitimate payments by the state.
I love digital currency to use and hold. I know Bitcoin will be the one currency in one world. But Fiat will have existed. I won't say that Fiat won't exist. There is no doubt one day Bitcoin will be more popular than Fiat and it's already happening day by day.
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
It is clear that with crypto payments will be faster and more measurable and process faster. but there is also a problem with crypto replacing fiat, because there are still many countries that have not been able to accept crypto transactions as legitimate transactions recognized as legitimate payments by the state.
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
It is clear that with crypto payments will be faster and more measurable and process faster. but there is also a problem with crypto replacing fiat, because there are still many countries that have not been able to accept crypto transactions as legitimate transactions recognized as legitimate payments by the state.
Only on huge transactions like government expenditures and transfer of money of banks and business. I'm sure that on those areas, it is going to be all completely crypto. But for us average spenders, we are going to need fiat. Crypto is very helpful when a huge some of money is needed to transfer in any place or country in an instant which is not needing a armored car or etc.
Cryptocurrency has achieved a lot and has brought great transition in our world of finance. It has brought speed to transactions, security, owner control over transactions, ability to transfer funds across borders, transparency etc to the people yet Fiat is more familiar to the people. It is with fiat that cryptocurrency market cap is measured hence the essence of the existence of fiat cannot be underestimated. Fiat and crypto will rather coexist than for crypto to replace fiat.
You got it all wrong @OP. The use of digital payment system system is not as bad and vulnerable as you think it is, if people are actually taught how to use cryptocurrency to make payment i am sure they would have no problem with that. trading with cryptocurrencies is very simple than most people actually think . Don't also forget that on the bitcoin blockchain, nobodies know who owns a specific address so you don't have to feel bad about any invasion of privacy when it comes to your funds.
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
Yes, that’s right. For now crypto is for investment purposes only. If the time comes, when many people adopt crypto and can understand its purposes and its usage, we can live in better place like what you said.
Unless a cryptocurrency becomes more profitable and more convenient to use than ordinary money, none of the ordinary non-crypto people will use it for regular daily payments in everyday life.
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
Yes, that’s right. For now crypto is for investment purposes only. If the time comes, when many people adopt crypto and can understand its purposes and its usage, we can live in better place like what you said.
I think this could be changed but for now it is very difficult to achieve it, if crypto replaces fiat, of course there will be many negative and positive impacts, such as payment transactions will be fast, and the shortcomings as well as when the transaction is disrupted will disrupt the process
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