Cryptocurrency as our Fiat - page 6.

samcrypto

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Quote from: mutrang23 on December 15, 2017, 10:36:27 PM

Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

I do not think it will be widely accepted and popular because there are so many countries that are issuing a ban on bitcoin. So I do not have any idea what can not happen.

Who knows about what future holds, maybe yes or no but this technology will surely improve the lives of many people. Yes cryptocurrency is really hard to accept specially by the ordinary people and I think if this thing happen the price of cryptocurrency may not move since every had that specific token.

cpfreeplz

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Honestly not the way it is now. I'm not going to pay BTC0.00050000 for a transaction when bitcoins are 17k each and neither would anyone else. It's not even really worth buying appliances with. At some point when it stops rising so much I think things will level out, become normal and the fees will settle down to where they should be. At that point yeah bitcoin could take over the world.

mutrang23

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

I do not think it will be widely accepted and popular because there are so many countries that are issuing a ban on bitcoin. So I do not have any idea what can not happen.

Yakamoto

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

It might become some sort of large trade currency, I don't think it will ever hit some kind of average fiat use since that would require a massive restructuring of society and the value of bitcoin would shoot through the roof, resulting in everyone hoarding what they have right now even more and making it harder for people to actually have it and be able to use it. As a trade currency and as a store of value, Bitcoin would be great for that kind of use. It actually makes sense to have Bitcoin fill those roles, everything else is a pain in the ass due to confirmation times or the like. Trade currency is probably the destiny of Bitcoin, if it ever gets to that point.

Kawasanz

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Throughout 2017, bitcoin will most likely show the quality of the store of value and present some of the stability and reliability of the experts.
For Bitcoin and cryptocurrency to actually achieve mainstream adoption, it is necessary to reflect the quality of the currency. This should indicate the low volatility and price fluctuations for the general public to rely on as currency.
so it is very difficult to make as a substitute for paper currency, bitcoin fixed currency digital means for future investment

mx667

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Quote from: datodota002 on December 15, 2017, 09:33:39 PM

Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

I dont wanna ruin your dream to make crypto as fiat, it's hard to be true because every single country in this world have own fiat, and own rule about that fiat. Cryptocurrency still new in this world people like it because it really good for trading. and invesment. but it doesnt mean it good to be fiat money. still alot thing to review about cryptocurrency. and that will be a long time

First of all, I want to say that Bitcoin is not a physical currency. Bitcoin's main goal is to transact easily, so I guess that's one of the reasons. But if someday there is a physical item that is used as Bitcoin currency, I do not think that currency can be used arbitrarily. That's because we all know that Bitcoin prices are always changing all the time. So people will think twice about using Bitcoin as a transaction tool. Especially for the middle class who like to make Bitcoin for investment tools only.

datodota002

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

i dont wanna ruin your dream to make crypto as fiat, it's hard to be true because every single country in this world have own fiat, and own rule about that fiat. Cryptocurrency still new in this world people like it because it really good for trading. and invesment. but it doesnt mean it good to be fiat money. still alot thing to review about cryptocurrency. and that will be a long time

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Yes it will, but not at the moment there are still yet to be done. It is very essential in the ways of speed of transactions. Imagine sending money to another part of the world in just minutes. Just see how China works with their digital payment method, even though small vendors used it already, It is very essential if things go like that in most of the countries.

https://www.youtube.com/watch?v=dPcA0xw8a-0

BTCeminjas

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Nothing's impossible when it come's technology our modern technology was more develop and that happen soon.
It take's a long process before that happened, maybe. There are some establishment now adopted this cryptocurrency named bitcoin even though this is a volatile they accept already because they think that it is more expensive when right time comes.
As now we can't conclude that cryptocurrency replace our fiat but who knows it will be happen through this our modern technology.

Antiqua

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i think cryptocurrency as fiat is possible but not with this current crypto
i think every government should establish their own crypto, so paper money no longer needed
and after that, every nation should acccept only 1 cryptocurrency as global payment, no nation should own this but every nation
but i think we can use that method after trial and error with this current crypto

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Quote from: Shamie1002 on December 15, 2017, 06:38:03 PM

I think it will not happen. Firstly because of volality. An amount of bitcoin would mean so much more once it's widely accepted and guessing that no one would buy a coffee using bitcoin with fees greater than the price of the coffe itself. It's a bit impractical.
And bitcoin can not function as a global currency because of the economical diffences of each country. Like in US Dollars is Fifty pesos in our country.

The government will not accept bitcoin as currency because of its anonymity. It can easily used in illegal purposes that cause to increase criminality. It will be hard to have crypto as fiat because the value is not stable in the market. Fiat is something that has fixed value and it is handled by people in the government which is different in cryptocurrency.

Shamie1002

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I think it will not happen. Firstly because of volality. An amount of bitcoin would mean so much more once it's widely accepted and guessing that no one would buy a coffee using bitcoin with fees greater than the price of the coffe itself. It's a bit impractical.
And bitcoin can not function as a global currency because of the economical diffences of each country. Like in US Dollars is Fifty pesos in our country.

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

Maybe some of the country used Bitcoin as their own fiat but it will need some massive requirements and support of your government. Also they will need a good technology for them to transact on what ever they wanted to buy. They will need it anyway for their daily expenses.

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Quote from: trecore4 on December 15, 2017, 03:56:22 PM

Me too don’t think that’s crypto currency can be used as fiat currency. They are not in the state of acceptance yet and many countries are not even getting them in line with their normal fiat currency. If the situation like that continues then why would they even choose it in the first place and disturb the fiat that they have.

Fiat is something different I believe.

I dont think it is needed to have a physical representation of those cryptos. What is the point of it being crypto if u need fiat for it. It's purpose as an online currency is just ok. It already has fiat equivalent so theirs no need to chance. Government would also obviously negate if their are any things that would come out as this. I would rater use atm for cash out on crypto that to see its fiat form.

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

When talking about cryptocurrency, people always think of bitcoin, although bitcoin proves to be a good investment it might not be a good alternative for fiat, because of how it is limited and has a very high changing price, however the blockchain network system could be applied to fiat, and thus by making digital fiat and allowing people to pay with it every where, it may be hard for people to get used to it but eventually they will accept it and start using it just like they are using credit cards today.

whisee

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

yes i think Cryptocurrency will replace bitcoin in future but not top Cryptocurrency like bitcoin.

we need low fee to pay for daily things

equitybase

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some states will create their own crytocurrency and eventually migrate current fiat base to cashless. Venezuela is going to create one already and lets see how that goes

Fidemoga

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I'm convinced that cryptocurrencies will replace our fiat money. However, it will be kinds of cryptocurrencies that allow governments and banks to make citizens and clients financial activities transparent, and it will take quite some time because information technology has not yet penetrated into all regions of many countries (including so-called industrialized countries).

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Me too don’t think that’s crypto currency can be used as fiat currency. They are not in the state of acceptance yet and many countries are not even getting them in line with their normal fiat currency. If the situation like that continues then why would they even choose it in the first place and disturb the fiat that they have.

Fiat is something different I believe.

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Quote from: SugoiSenpai on December 15, 2017, 09:09:12 AM

Do You think that at some point in our society, Cryptocurrency will be our daily fiat and be an essential part of our economy? Can you cite your ideas on how Cryptocurrency change our Fiat?

The idea of it itself is so ridicule to be honest. I don't want crypto to be fiat, let fiat be fiat and let crypto be the crypto as it is. If crypto becomes fiat, it'll soon be introduced to various regulations and then the difference between them would be that crypto is intangible and fiat is not. So it's probably time for you to chuck the idea of it from your brain.

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