Topic: Crypto replacing fiat? - page 66. (Read 63527 times)
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.
now is the digital era so many countries have applied digital money / e-money, but unfortunately still not using the blockchain system so it still can not be called cryptocurrency, because it is still centralized. I think if all fiat is replaced with cryptocurrency then transacation between countries will be more efficient. however, this is unlikely because each country has a central bank that has the right to monopolize fiat money use policy
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?
There are hundred of threads discussing this. You can search Economics section and get answer to it.
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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.
Even if everyone start using crypto, it is not possible that whole of your money could be tracked. You can send Bitcoin (let say) to someone and the other person can send you Bitcoins on your new wallet, whole money is revolved. This is what Bitcoin mixers do. It is impossible to track which address is owned by whom unless you using some centralized wallet service like Coinbase. As far as you create new address for receiving every payment and own private key of those addresses, no one can know how much you hold.
This has not been an easy task at all and cannot be because we are all afraid of such change and also the complex nature of using cryptocurrency is another great deterrent for people to move into cryptocurrency. If we can make cryptocurrency usage very easy and on a single platform,everything can be done with speed,we will gradually win this battle.But for now we still need to do more before we can replace fiat with cryptocurrency.
There are a lot of people who think that governments eventually will move from using FIAT to
using crypto like we all follow and like here on the forum, but it wont happen because it is totally
out of their control.
Governments will move from FIAT to their own centrally controlled digital currency and yeas that
will come with the government controlled "track and trace" system we dont like.
using crypto like we all follow and like here on the forum, but it wont happen because it is totally
out of their control.
Governments will move from FIAT to their own centrally controlled digital currency and yeas that
will come with the government controlled "track and trace" system we dont like.
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.
because it is the tool we use for the current exchange, bitcoin is more suitable for the investment tool.
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?
There are hundred of threads discussing this. You can search Economics section and get answer to it.
Quote
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.
Even if everyone start using crypto, it is not possible that whole of your money could be tracked. You can send Bitcoin (let say) to someone and the other person can send you Bitcoins on your new wallet, whole money is revolved. This is what Bitcoin mixers do. It is impossible to track which address is owned by whom unless you using some centralized wallet service like Coinbase. As far as you create new address for receiving every payment and own private key of those addresses, no one can know how much you hold.
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?
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.
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