Cryptocurrency as our Fiat - page 7.

otandelapaz

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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?

Crypto currency is an option but I don't think it will replace the fiat. Crypto needs internet connection, electric power, devices, and of course knowledge about it. Which is not always available to anyone at anytime at any place.

DaMut

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what does that mean by our daily fiat ?
are you talking about our main currency and will be used by us daily whenever we're doing something ?
if you're talking about that i am afraid it will not happen because the goverment will prevent it for sure.
do not you think it's a bit too dangerous for our global economy if cryptocurrency useb as a main currency ?
what will happen to them who is holding Bitcoin for more than 1% ? do not you think they can become a landlord ?
in my opinion at best it will only be used as a digital currency,
but even though it's only as good as a digital currency it has a big role in our real life.
because in the future i believe when the technology developed to a whole new level era.
bitcoin will be used by many people and it can be a part of our life.

dothebeats

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Imagine if that happens, how would the central government be able to keep track of what's happening in their economy and how much do they need to tax people? Not to mention how would they be able to produce funds for internal/domestic projects, lend money and all these stuff that a government do with their fiat? Also, fiat is an inflationary currency whereas bitcoin is its opposite, how will it fulfill the role of fiat as being the scam currency if they can't produce bitcoins in thin air?

benalexis12

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Crytocurrency as our fiat? agree on you. i was thinking about this before when i was new in bitcoin. everything will change, everything is evolving right now i would like to thank my co trader who teach me to adopt cryptocurrency

BartS

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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 think that before bitcoin becomes the currency of choice to make transactions in the real world, bitcoin needs to become the king of the online world, when we see that amazon and ebay take bitcoin as one of their main ways to receive payment and the usage of bitcoin is greater than the use of fiat that is when we are going to see a huge change in the way people understand money.

Ctn

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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 may or may not happen and everything depends on what future brings in terms of laws and all the regulation throughout the globe. There has to be common law throughout the International relations because Bitcoin is not bound to only one country and to use it everywhere as fiat it will first need to pass the amendments of each and every country.

This process looks little tedious because history is proof to our global history not all country's had come together at the same time when it was about their own profits. The fiat conversion is really global here due to bitcoin's global presence. So may be or may be not.

XinXan

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Certainly but not with bitcoin. When cryptocurrencies are actually made to be currencies, that's when they can destroy fiat. Bitcoin's price is high but no one uses it as a currency, fees too high and is just not going to work for bitcoin, other coins however can definitely be used as real currencies, hopefully in the near future.

Gotomoon

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I cant see the future of cryptocurrency as our fiat. Its not fillin in my mind, it will not happen soonest because of too many reasons and explanation. There is of needed to legalize by the government and acceptance by the society in our economy. And must be adopt by non techy and all citizens first before this will be accept in the country.

shezu007

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Quote from: frowsiter on December 15, 2017, 12:06:00 PM

The crypto to fiat currency has been dream of every crypto lover because they just want it to be used as normal currency without any hassle of the government ban and stressing out one.

However as long as there comes no volatility in the crypto currency market until then it is impossible to get it converted to fiat use. I mean just look at the fiat currency that we see now a days, its stable, under control of regulatory bodies and they have the fixed set of values. This makes the everyday trade very easy and this is why we have fixed prices for the products an services and we can manage the taxes accordingly.

But just tell me how would you manage the same thing with bitcoin. You can’t have same value in everyday feed, I mean how banking system would work where there are versatile type of transaction are going on and that will be chaotic if we have unable currency lie bitcoin. So it still have lot of time to get accepted as fiat currency.

this thinking is good , but it will become ture in the future when the bitcoin become legal all over the world and all people that know about the internet and technology will use the bitcoin. then there will be bitcoin as fiat now for us. Also the buy and selling will be make through the bitcoin and people will be feel free of the security of their money because the bitcoin is most secure than fiat.

Sweeet123

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I don't think is gonna happen any soon,the acceptance of bitcoins is still not widespread, limited number of people trade using bitcoins, most people across the globe still rely and believe in fiat money, as it has been used over a long period of time and thus developed the trust, also if we have cryptocurrency as fiat, the fluctuating rate would make it really difficult to manage

frowsiter

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The crypto to fiat currency has been dream of every crypto lover because they just want it to be used as normal currency without any hassle of the government ban and stressing out one.

However as long as there comes no volatility in the crypto currency market until then it is impossible to get it converted to fiat use. I mean just look at the fiat currency that we see now a days, its stable, under control of regulatory bodies and they have the fixed set of values. This makes the everyday trade very easy and this is why we have fixed prices for the products an services and we can manage the taxes accordingly.

But just tell me how would you manage the same thing with bitcoin. You can’t have same value in everyday feed, I mean how banking system would work where there are versatile type of transaction are going on and that will be chaotic if we have unable currency lie bitcoin. So it still have lot of time to get accepted as fiat currency.

SugoiSenpai

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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?

Topic: Cryptocurrency as our Fiat - page 7. (Read 686 times)