Bitcoin and cryptocurrency is not meant to replace fiat, it is invented to be an alternative source of payment that's scarce and decentralize, when the old monetary system gets to regulated and manipulative.
But if people gets to fed up with it, we might see massive migration of users from fiat to cryptocurrency, especially when countries are trying to establish their own cryptocurrency we might see a massive adoption in the future.
Topic: Cryptocurrency can not replace fiat currency. - page 15. (Read 2200 times)
You actually did not give strong reasons why cryptocurrency can't replace fiat currency. Cryptocurrency can actually/theoretically do most things fiat currencies can do, but I doubt typical fiat currencies can safely do most things cryptocurrency can do with losing their centralization. Besides, government can run their fiats on Blockchain or other real decentralized system.
Crypto could actually work better in rural areas than fiat, even without relying too much on internet. But I believe safe/crypto-friendly worldwide rural internet coverage is a possibility in the future
yeah exactly. "it will be hard to adopt" is not the real reason why cryptocurrencies won't replace fiat its an excuse not to work hard for the result imo.Crypto could actually work better in rural areas than fiat, even without relying too much on internet. But I believe safe/crypto-friendly worldwide rural internet coverage is a possibility in the future
I see only one reason why crypto can possibly not become next fiat - people's skepticism about crypto and blockchain overall.
But honestly I think its a matter of time when most of population will understand and accept digital currencies.
Still, I think it is not enough to replace the fiat currency. It will be hard for the government to do that.
Who said anything about asking the government's permission? The whole point of bitcoin is to move away from giving other people control over your money.It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life.
The volatility is a product of bitcoin still being young and emerging technology. Fast forward 50 to years to a scenario where (I hope) bitcoin is being used daily by millions around the world, and the price will be far more stable. Fiat isn't exactly some safe haven, either. The US dollar has lost 96% of its purchasing power in the last 100 years, and will only continue to do so as the Federal Reserve and banks print more and more as they see fit. All fiat currencies will only devalue over time.Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.
This is a valid point. I still think there is a hurdle to overcome with bringing bitcoin to the tech illiterate. As the percentage of the population who have grown up immersed in technology increases, however, this problem becomes ever smaller.
You actually did not give strong reasons why cryptocurrency can't replace fiat currency. Cryptocurrency can actually/theoretically do most things fiat currencies can do, but I doubt typical fiat currencies can safely do most things cryptocurrency can do with losing their centralization. Besides, government can run their fiats on Blockchain or other real decentralized system.
Crypto could actually work better in rural areas than fiat, even without relying too much on internet. But I believe safe/crypto-friendly worldwide rural internet coverage is a possibility in the future
Crypto could actually work better in rural areas than fiat, even without relying too much on internet. But I believe safe/crypto-friendly worldwide rural internet coverage is a possibility in the future
I have seen so many posts about emerging cryptocurrency, and they think that someday it will take over our current system, or it will replace our fiat currency, which is really impossible, yes cryptocurrency is such an excellent currency especially the bitcoin, cryptocurrency keeps on being more prominent and more significant. Still, I think it is not enough to replace the fiat currency. It will be hard for the government to do that.
It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life. Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.
There are still some rural places in this world, so it will be hard for them to adopt the new system if this will be implemented in the future, which I hope won't happen, and even those person in provinces will also get mad if those things happen.
It will be hard for us if we use our cryptocurrency as our standard currency, the volatile currency will not be useful in real life; only that money is only suitable in real life. Not all individuals are really used in technology, so how could they handle their money if they are not familiar with the technology.
There are still some rural places in this world, so it will be hard for them to adopt the new system if this will be implemented in the future, which I hope won't happen, and even those person in provinces will also get mad if those things happen.
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