Topic: Crypto replacing fiat? - page 60. (Read 63502 times)
I think they would have new blockchains private. People will be forced to be under a ponzi scheme where only governments can see your holdings. This is just one example. It's an alternative to something that exists already with fiat.
I think Cryptocurrency is very difficult to replace fiat money because Addiction to cryptocurrency is dependent on the Internet, and imagine if the Internet connection in one country is decided, what happens to the financial transactions in that country? Because the Internet bandwidth is controlled by some developed countries, developing countries are particularly vulnerable to countries that hold bandwidth.
It will never happen in the future because cryptocurrency and fiat money have their own roles that cannot be replaced. That thought is merely fantasy and unlikely to happen.
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 will not replace fiat and vice versa.because they have different functions and ways of working, fiat as payment currency and bitcoin as investment assets.
this will happen in the near future but not now.
replacing FIAT will be a not so easy thing to do.
we need to develop more.
there are so many people who are not connected into internet.
replacing FIAT will be a not so easy thing to do.
we need to develop more.
there are so many people who are not connected into internet.
never, ever forever fiat will remain the official payment currency of the whole world.
and will remain a bitcoin digital currency as an investment and not as a payment currency.
the reason is very easy, where maybe 21.000.000 bitcoin is shared for the whole world.
and will remain a bitcoin digital currency as an investment and not as a payment currency.
the reason is very easy, where maybe 21.000.000 bitcoin is shared for the whole world.
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.
No, I believe that the cryptocurrency will not be able to completely replace Fiat money. I am sure that the cryptocurrency will replace all non-cash money. All virtual money will become crypto-currencies and crypto-money. This is the peculiarity of this modern asset in the 21st century.
I do not believe that bitcoin can completely destroy paper money. If we have a technology that can accept payment without electricity, then there is still such a possibility.
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.
Cryptocurrency will be replacing fiat in the future only if the government are going to allow it to happen but aside from that, people will still continue to use fiat since not everyone is capable of earning bitcoins.
This can never happen, crypto is only a supplement to the economy, they are the currency for solving some difficult problems for the economy but they are not as liquid as fiat
In the very long term it is possible. Not probable but possible.Although Cryptocurrency are gaining a speeding momentum since their introduction to the world, there are claims of it having both advantageous and disadvantageous purposes.
crypto currency in my opinion like a sponge that absorbs water where fiat currency I assume as water, because we can see the day the movement of crypto currency is growing with a high price so that the value of fiat currency is nothing compared to the currency crypto
Probably not, I think fiat will continue to exist because the fiat is more stable. Crypto currency will not replace the fiat, I think the crypto currency is more useful as an asset.
Cryptocurrencies will not replace fiat and there are many reasons for that.
First, fiat money can't disappear because every country and governement on the world is depending on it. Cryptocurrencies are volatile and unstable, usualy the number of coins is limited and you can't base your economy on such features. Fiat currencies will stay and will continue to be dominant and the crypto wil be used as an alternative.
First, fiat money can't disappear because every country and governement on the world is depending on it. Cryptocurrencies are volatile and unstable, usualy the number of coins is limited and you can't base your economy on such features. Fiat currencies will stay and will continue to be dominant and the crypto wil be used as an alternative.
Fiat is already the means of buying products or paying for any services since the barter system centuries ago. I believe it will be a very tough situation for people across the globe to only use crypto because we also have to consider those area who don't have access to internet.
I think that there is a possibility that the crypto currency will replace the Fiat. If this happens, then in the distant future. Crypto currency can not quickly enter into everyday life.
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.
crypto and fiat money is something different and they have their respective roles. I may agree with the use of digital money for large amounts of payments but are small payments still need digital money? I think not, it would be quite inconvenient if it happened, everyone should carry gadgets everywhere, I think it's not as practical as carrying ordinary wallets.
Not anytime soon. In fact, I don't even see the possibility of this yet. No country will abandon its fiat system or national currency which is part of its symbols and legal tender for a form of currency that is not within their control. In that case, how do they plan their annual budget? Cryptocurrency cannot be used in planning budget. I am sure everyone agrees with me on this.
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 reality on the above topic thread posted is Crypto currency transaction is not yet fully accepted by a lot countries where we belong, Crypto as main currency used for transaction or Replacing Fiat is still up in the air. Look at the imposed Banned by countries whom critical about crypto transaction, not to mention the issues on Banned, Scammer, Hacking, all of this are just few indicators that Replacing FIAT by Crypto is far from reality yet it has increase the growing number of Crypto investors.
Jump to: