Crypto replacing fiat? - page 63. | Bitcointalksearch.org

buwad suka sili

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

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.

Maybe this will be happen in the city only and not in the entire country , there are country that have a cashless city or cashless society and that means people living in that particular city will not using Fiat money , instead they are using electronic money but not crypto.

nagobinga

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there is no better turnover other than trading a BTC or it can also be with ETH and sometimes this can also be a state asset that is the best of any kind ..

felixesteban

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World’s First Decentralized ICO Platform

It seems unlikely that such a scenario will take place. I don't think governments will allow such a structure that they can't control, they can make their own digital currency in future, but that's gonna be much different from current fiat currencies.

Emigham7

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I don't see the possibility of crypto replacing fiat now and in future. But even though it does, there won't be much problem as, there will be more flexibility in operation of crypto

makolz26

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Quote from: ?? on ??

Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

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.

Maybe it will happen on the upcomming future since crypto now are very popular it will be possible that fiat will replace crypto.

I don't think it will happen this days, for sure that it will happen but it will in the next coming decades and not by this time, it is too early to predict this time and to tell that, when we have seen that little by little those countries who banned it will eventually adopt this then for sure that it will also happen.

petrobit

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If we imagine a situation in which crypto completely replaces fiat, then it will take years to realize this. the world began to develop faster of course, but Fiat firmly rooted in the minds of people and it will not go away quickly.

Xenoph0bia

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No I don not think that cryptocurrency can replace fiat currency in the future.

JakenBake

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Who do you think is behind Bitcoin? They will for sure replace fiat with digital currency so they can watch every transaction on the block chain. You realize you are tax cattle right? Anyone who does not use the dollar gets bombed. Bitcoin comes out and the us govt is cool with it? Yeah right. They are behind it.

julzcoinbit

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

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.

In that situation bitcoin users are really In favor on that, but disadvantage for those people who doesn't know what Is crypto, especially In cryptocurrency. And government can able to manage the cryptoworld since It is become a centralized. But in my opinion, I think Its Impossible to be happen.

asayoyaasa

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I think crypto can't replace fiat anymore, because in every countries must have their currency and that currency is backed by their goverment.
If this happen, I mean crypto has replaced the fiat I can't imagine that people who don't understand about it then it will make people do crimes to rip their asset.

Samaaliu

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Cryptocurrency cannot actually replace fiat. I don't think crypto will function well like the fiat. Let fiat continue to exist. Let crypto also be in use as well.

webtricks

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Quote from: yoseph on July 23, 2018, 02:36:08 PM

Quote from: webtricks on July 23, 2018, 01:21:44 PM

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I believe this is the reason why the governments are pushing for the regulation of the currency because they want to know the users that uses the cryptocurrency so that they can be taxed accordingly.

If any government believes that cryptocurrency could be regulated then consider it be Hoax! You may regulate a wallet, exchange, forum, chats and take data from them but you can't regulate blockchain.

Blockchain provides such invincible technology that no outer force can harness it. Every data on blockchain is Pseudo-Anonymous. Though it could be tracked upto certain degree using Hash or Transaction ID but real identity could be easily hidden in blockchain.

Leanna44

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Quote from: Naida_BR on July 23, 2018, 01:13:48 PM

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?

True both are very usefull and fiat will not be replaced by any crypto money instead they will both help other to mentain each usage,,,and i beleive that really no one will be gone as youve said mate it will stay forever qnd be our forever partner.

Senkuli

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It might happen but it might take a very long time, digital currencies continue to grow and many governments in the world begin to study the use of cryptocurrency for their people.
But, fiat money is a currency that has been used by humans for a long time, each country has its own currency and has used fiat money for all their daily needs, they will still love fiat money under any circumstances.

liivii

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I think it won't happen because not all of the people would understand this type of currency and those that doesn't have knowledge will be the ones who will harder to adopt it. Fiat makes our world balance while Bitcoin in the other hand makes another currency and its by form of virtual and doesn't have the qualities to be the main currency of the whole world. So having those two separate from each other will be the best possible to happen in the near future.

Virtual miner

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

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.

Firstly, I don’t see that happening and I think this will never happen. Cryptocurrencies can never replace fiat. At the most both will co-exist. If there is only one to stay then it will definitely be fiat and not crypto. Secondly, anyone cannot see you holdings of Bitcoin. Bitcoin is pseudonymous implying that only the person with whom you are transacting in Bitcoin can see your holdings and not everyone.

renz0

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Both have the same purpose as a currency. But I think crypto especially bitcoin cannot replace our fiat money. Yes, bitcoin can be used in paying bills, online shopping, buy loads, purchase goods and services but I am pretty sure it has limitations. Limitations in the sense that only those people who are exposed to new technologies like a computer with internet connections, smartphones, laptops and anything that can be used in online transactions are benefited if crypto replace fiat money.

nl247

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Firstly, I really do not see the likelihood of this happening and even if it did eventually get to happen at all, I am sure by then, all the worries you have stipulated would be something each person would have gotten used to, most especially when it comes to the idea of your record being opened to the whole world knowing your worth. Do not forget though that with just a click, public addresses can be changed and do not also forget that not all cryptocurrencies are pseudo anonymous.

Camorra Dev

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Quote from: CptWhsikeyjack on July 23, 2018, 01:04:53 PM

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.

it is quite hard to answer that question right now because we're not seeing any perspective model of how it would look like so even a prototype of that is not even existing right now.

1Referee

legendary

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I don't see the point of focusing on something that won't ever happen and doesn't need to happen.

Who cares what fiat is doing when we can use Bitcoin right now as money already? It's people's toxic mentality that needs to change, because the less people spend their coins, the less merchant incentive there is to jump on board. In other words, people should look in the mirror and understand what the underlying problem of everything is. It's YOU.

Everything right now is in our own hands and we can make or break this ecosystem. Governments must be laughing their asses off with how people here just use crypto for speculative purposes.

Topic: Crypto replacing fiat? - page 63. (Read 63502 times)