Look my country's (venezuela) Petro, it's an absolute fucking joke, supposedly pegged to oil price but not only does it no go down with it, it's price has been arbitrarily raised twice. Then they hard fork it in secret and pretend like nothing even happened. As far as I'm concerned, is cryptocurrency has a government or a company running it, it should not be taken seriously.
You are from Venezuela? I'm curious, did Bitcoin actually become so popular during the last years, as it is reported? I refer to the current situation in Venezuela in the white paper of my project as to an example of how crypto can threaten fiat during the time of crisis. I understand that Bitcoin can't replace fiat, but still it seems to attract people if the government escalates inflation or applies another unpopular monetary measures. 
Topic: Cryptocurrency can not replace fiat currency. - page 2. (Read 2221 times)
I think so. It's difficult to think that crytocurrency can replace fiat currency because this two have different features,usage and value. Also Cryptocurrency is decentralized and no single authority regulated it. While fiat currency is centralized and issued of the government. Also cryptocurrencies value is volatile while fiat money has it's own fixed value. Also unlike fiat money,crytocurrency always need internet connection to operate and make every transaction. There are so many differencies and many things to consider for crypto to replace fiat money if ever.
Well that’s your opinion but mine is that cryptocurrency can replace fiat currency easily. They just need to regulate the crypto world. There are a lot of cryptocurrencies that are based on the same idea, They will need to reduce them also any new one coming out will have to meet some certain requirements.
One important consideration is that cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status. Bitcoin is the utility as a store of value is dependent on its utility as a medium of exchange. Like fiat currencies, Bitcoin is not backed by any physical commodity or precious metal.
Of course he cannot replace. Each currency has its own advantages.
Fiat is going to be their because many countries are developed and are in the superpower because of their fiat which is used worldwide. Crypto is beneficial for the countries where their own currency is not doing well those can adopt this currency. But yes, more and more countries prefer the crypto you would have better demand in coming time.
of-course crypto is much more beneficial as compare to fiat and those people who would realize it, will know the importance of crypto. however Fiat is for those people who do not know about crypto but i think the technology is growing in such a speed that the people in rural areas will also come to know it in no time.
the thing is that different people have their own preferences, but i think in future the crypto will be more dominant as compare to fiat.
In my point of view, cryptocurrency cannot be as useful as fiat currency when it comes to everyday basis, that human uses fiat for trading goods to buy or sell, but also crypto can be use same as that in such a way we can trade some stuffs through online payment. In that case, cryptocurrency is not that usable as fiat is, but it also have a good features and advantage like through online transactions, crypto is more convenient.
Of course he cannot replace. Each currency has its own advantages.
Fiat is going to be their because many countries are developed and are in the superpower because of their fiat which is used worldwide. Crypto is beneficial for the countries where their own currency is not doing well those can adopt this currency. But yes, more and more countries prefer the crypto you would have better demand in coming time.
Most of the people still prefer fiat rather than cryptocurrency because its easy to use in real world. Cryptocurrency need internet access in order to transfer from one person to another. There's a lot of advantage of fiat in real world. Ordinary people only use fiat and not even know about cryptocurrency. Many establishments are not yet accepting crypto. There's always a room for improvements and real world need to accept bitcoin first before other crypto can be accepted.
Depending how giving rule and space by government each country, I think cryptocurrency could replace for fiat currency place if government want to allow and legal using bitcoin or altcoin as currency payment, but right now have many countries not giving access to bitcoin and altcoin become public digital currency payment.
The question is, are these governments ready to let go fiat and give cryptocurrency their full support? No! Remember that fiat forms the backbone of most countries economy. I country's native currency value determines the economy of such country. Governments will rather prefer to digitize their currencies instead.
Nowadays People already know the value of cryptocurrency, and i think it won't be changed on their thinking. even many people thinking that crypto would be the most excellent options to eliminate fiat harms in terminology of transactions, but it's not that straightforward to divert into great abnormal for other non crypto users. That's why it necessity to mature further over and over again before we put into action this gentle of system to each one individuals.
One important consideration is that cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status. Bitcoin is not backed by any physical commodity or precious metal. Throughout much of its history, the current value of Bitcoin has been driven primarily by speculative interest.
Depending how giving rule and space by government each country, I think cryptocurrency could replace for fiat currency place if government want to allow and legal using bitcoin or altcoin as currency payment, but right now have many countries not giving access to bitcoin and altcoin become public digital currency payment.
And let the whales control the country? For real?
As long as the government couldn't control cryptocurrencies, it will never replace fiat currency. We all know how controlling they are, that would never change as long as they are the government. I do believe that we will be seeing a digital currency used in a country but I don't think it will be Bitcoin or other cryptocurrencies we are seeing or using now. Bitcoin can be mainstream in the future, but it will never replace fiat currency.
Depending how giving rule and space by government each country, I think cryptocurrency could replace for fiat currency place if government want to allow and legal using bitcoin or altcoin as currency payment, but right now have many countries not giving access to bitcoin and altcoin become public digital currency payment.
Goverments will never allow it, they want to control money. Maybe we will see digital fiat but not a btc as resserve currency
The government is trying but they can't so if they cannot beat it join it, government are now creating a digital currency on their own, China will soon launch one soon and after that many countries will follow China's lead, we cannot ignore if the most powerful country in the world is creating and becoming a model of it.
Goverments will never allow it, they want to control money. Maybe we will see digital fiat but not a btc as resserve currency
The government is trying but they can't so if they cannot beat it join it, government are now creating a digital currency on their own, China will soon launch one soon and after that many countries will follow China's lead, we cannot ignore if the most powerful country in the world is creating and becoming a model of it.
In addition, if the business is already interested in using cryptocurrency, then I am sure that no government will want to harm the business, that is, its economy.
Goverments will never allow it, they want to control money. Maybe we will see digital fiat but not a btc as resserve currency
The government is trying but they can't so if they cannot beat it join it, government are now creating a digital currency on their own, China will soon launch one soon and after that many countries will follow China's lead, we cannot ignore if the most powerful country in the world is creating and becoming a model of it.
Goverments will never allow it, they want to control money. Maybe we will see digital fiat but not a btc as resserve currency
The government is trying but they can't so if they cannot beat it join it, government are now creating a digital currency on their own, China will soon launch one soon and after that many countries will follow China's lead, we cannot ignore if the most powerful country in the world is creating and becoming a model of it.
bitcoin has become a part of the monetary system that co-exists with other asset classes. Arguing whether one will replace another is simply waste of time.
debates that waste time but are important...trivial matters need to be discussed so that we can prepare ourselves when that time comes. I am sure fiat currency will change to digital or cryptocurrency, indirectly it was deliberately replaced because it is easier to control and supervise digital currency or cryptocurrency.
bitcoin has become a part of the monetary system that co-exists with other asset classes. Arguing whether one will replace another is simply waste of time.
Maybe cryptocurrency can't replace fiat currency but in a utopic future where money will be only digital or "coined" and cash will represent what originally the bitcoin was made for. Economy and the banking systems had to implement crypto in their asset, but if they'll do it, certainly it will not be agreed by the native users of bitcoin; Anonymus and Instant peer- to -peer transactions are the fundamental basis of cryptocurrencies. My personal opinion is if bitcoin will be globally implemented as an investment asset or used to normale transaction, it will be his death.
First of all, (1) if bitcoin users or who owns bitcoin wants it to speculate over its price, I don't care that a global coin can receive more value than what nowadays already is, of sure the demand, will increase by the users but hyperinflation take his price down again.
(2) If the point(1) is accepted: Why should bitcoin users maintain their assets in their portfolio if the price will fall?
Before responding to this question ( money has the function to speculative, reserve, precautional).
Obviously who owns bitcoin will sell all assets to return to the fiat currencies, which has globally implemented and zero cost of a transaction, and meanwhile the bitcoin will raise the fiat currencies will be the standard. (3) In the end, bitcoin will increase until its implemented ( achieved the higher valuation of all time as a "spike", someone forecast 100x and 1000x) by the way, investor and users will sell all or not at all their asset cause the high volatility of the price.
The future of crypto is to remain crypto also if in long term transaction fees will decrease. But I think that as in the economic circle, the new system takes the old system down and the transistor will be updated by quantum-transistor, anyway will happen to bitcoin if we believe it has to be the future.
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ps Excuse me for any mistakes.
First of all, (1) if bitcoin users or who owns bitcoin wants it to speculate over its price, I don't care that a global coin can receive more value than what nowadays already is, of sure the demand, will increase by the users but hyperinflation take his price down again.
(2) If the point(1) is accepted: Why should bitcoin users maintain their assets in their portfolio if the price will fall?
Before responding to this question ( money has the function to speculative, reserve, precautional).
Obviously who owns bitcoin will sell all assets to return to the fiat currencies, which has globally implemented and zero cost of a transaction, and meanwhile the bitcoin will raise the fiat currencies will be the standard. (3) In the end, bitcoin will increase until its implemented ( achieved the higher valuation of all time as a "spike", someone forecast 100x and 1000x) by the way, investor and users will sell all or not at all their asset cause the high volatility of the price.
The future of crypto is to remain crypto also if in long term transaction fees will decrease. But I think that as in the economic circle, the new system takes the old system down and the transistor will be updated by quantum-transistor, anyway will happen to bitcoin if we believe it has to be the future.
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ps Excuse me for any mistakes.
In the future money is going to be only digital.
Now with Coronavirus we are more encouraged to use contactless payments and all is happening with credit cards and virtually.
But due to volatility cryptocurrencies are not going to be widely accepted. Only if cryptos are going to have a stable value of some stables coins are going to be used will save the day.
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