Topic: Cryptocurrency can not replace fiat currency. - page 7. (Read 2221 times)
Cryptocurrency has a way deeper than fiat, every country has their own respective fiat currencies that is comportable for every country to use. Unlike cryptocurrencies, we merely like to use it only on online purchase or payments, but fiat currency makes all.
In fact, nobody can determine when the planet moves but it's completely different within the case of cryptocurrency However it's true that cryptocurrency cannot replace fiat currency Both cryptocurrency and fiat are at their slowest pace. Unless the crypto is controlled by anyone the crypto can never get replaced counting on the market he will always come down.
If you think cryptocurrency can't replace the fiat, with this your line of reasoning, you actually have not read about the evolution of money and how we got here. This world is a sate of constant dynamic change and wake up to daily new realities. Today the whole world is on holiday, who had thought of that?
Well, maybe we can turn bitcoin into global payment system and not local one and that could basically have a HUGE market of its own. So, just to give an example an american could buy something from another american using dollars, yet an american could use bitcoin to buy from a french person, same like a German use euro to buy from another German, but use bitcoin to buy from a Canadian.
So, if we can manage to make the global payments bitcoin related, AND on top of that add online payment stuff that are digital, like the biggest example is steam games, buying games is digital and if you spend bitcoin on that and anything like that which is online and digital and no need for shipping etc, could use bitcoin. If we do just those two bitcoin could be over 100k easily.
Basically, bitcoin cannot replace fiat because crypto is only intended for online purchases and also only a few countries receive it in part does not mean that there is still no trust in crypto in some countries.So, if we can manage to make the global payments bitcoin related, AND on top of that add online payment stuff that are digital, like the biggest example is steam games, buying games is digital and if you spend bitcoin on that and anything like that which is online and digital and no need for shipping etc, could use bitcoin. If we do just those two bitcoin could be over 100k easily.
I am not sure whether all countries will use crypto because national money is the most important thing in their lives meaning all purchases or payments in their own country are still available with local fiat money.
But I hope that the blockchain technology will be used throughout the world so that it will be easier for transactions and purchases in different countries.
It cannot replace fiat, but it can be an alternative. Being volatile is already a part of bitcoin since the market demand drives the price of crypto. To add, bitcoin is not accessible to other people, there are only a few that knows bitcoin and only few accepts bitcoin.
Well, maybe we can turn bitcoin into global payment system and not local one and that could basically have a HUGE market of its own. So, just to give an example an american could buy something from another american using dollars, yet an american could use bitcoin to buy from a french person, same like a German use euro to buy from another German, but use bitcoin to buy from a Canadian.
So, if we can manage to make the global payments bitcoin related, AND on top of that add online payment stuff that are digital, like the biggest example is steam games, buying games is digital and if you spend bitcoin on that and anything like that which is online and digital and no need for shipping etc, could use bitcoin. If we do just those two bitcoin could be over 100k easily.
Basically, bitcoin cannot replace fiat because crypto is only intended for online purchases and also only a few countries receive it in part does not mean that there is still no trust in crypto in some countries.So, if we can manage to make the global payments bitcoin related, AND on top of that add online payment stuff that are digital, like the biggest example is steam games, buying games is digital and if you spend bitcoin on that and anything like that which is online and digital and no need for shipping etc, could use bitcoin. If we do just those two bitcoin could be over 100k easily.
I am not sure whether all countries will use crypto because national money is the most important thing in their lives meaning all purchases or payments in their own country are still available with local fiat money.
But I hope that the blockchain technology will be used throughout the world so that it will be easier for transactions and purchases in different countries.
this advantage is pretty applicable to many people especially regular individuals that does not know how to use cryptos
This is not the only advantage of fiat but it also evolves on how the people accept bitcoin in their country or in their place. There are countries that accept or legalized bitcoin but don't really accept bitcoin that much.
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One of the signs of statehood is the presence of a national currency.
This doesnt have to be true, it just needs to be a regularly accepted and circulated standard. Many emerging nations have borrowed their currency from other larger trading partners, usually its in reference to gold or some precious commodity which is traded globally and that currency doesnt even have to be sourced from that new nation just that they require a positive or good trading bias. ie. Have something to sell, have demand for your national produce and in crypto that would be utility of the blockchain.
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.
Yea, i think you are right here and on the other hand we can easily make transaction fiat money by using apps that many men compare between cryptocurrency and fiat money. Say for example i have a bank account but last 5 year i did not went to bank but am making banking transaction. Not only that, i can pay my electricity bill, gas bill, water bill through apps in fiat money. So why i go to cryptocurrency? Yes crypto currency for rich people who want to made big transaction without any documents.
So finally i think crypto can not beat fiat money anymore.
you said crypto cant beat fiat but you said crypto is useful for big transactions without the need of documents , not only this but also have a small fee . this is so good . that is few of the advantage of crypto but this isnt enough to replace fiat .fiat have advantage too . this advantage is pretty applicable to many people especially regular individuals that does not know how to use cryptos . by the way , you said your using an app that is fiat based ? what was that name of the app . ive been using simillar app too but only its a hybrid crypto and fiat based .
Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
Cryptocurrency will be used where it is convenient to do.
The better and more convenient the infrastructure for using cryptocurrency in the country, the higher the likelihood that each individual citizen will use it.
In developed countries, everything looks much better than in less developed countries.
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.
Yea, i think you are right here and on the other hand we can easily make transaction fiat money by using apps that many men compare between cryptocurrency and fiat money. Say for example i have a bank account but last 5 year i did not went to bank but am making banking transaction. Not only that, i can pay my electricity bill, gas bill, water bill through apps in fiat money. So why i go to cryptocurrency? Yes crypto currency for rich people who want to made big transaction without any documents.
So finally i think crypto can not beat fiat money anymore.
Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
the current goal approaching that is to make people in the world use bitcoin or cryptocurrency as another way to make payments. Many limitations of cryptocurrency have to replace fiat, even more so in a crisis like this. although many people use cryptocurrency, most people only see it as a business area.I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
Majority of people here on crypto doesnt really mind too much about its total adoption or its usage but rather they do always look at on the money making opportunity.
This is why everytime i do saw that someone do talks or have a topic about crypto replacing fiat then i do just simply ignore that one.Being optimistic isnt bad but we
should at least be realistic.
Well, maybe we can turn bitcoin into global payment system and not local one and that could basically have a HUGE market of its own. So, just to give an example an american could buy something from another american using dollars, yet an american could use bitcoin to buy from a french person, same like a German use euro to buy from another German, but use bitcoin to buy from a Canadian.
So, if we can manage to make the global payments bitcoin related, AND on top of that add online payment stuff that are digital, like the biggest example is steam games, buying games is digital and if you spend bitcoin on that and anything like that which is online and digital and no need for shipping etc, could use bitcoin. If we do just those two bitcoin could be over 100k easily.
So, if we can manage to make the global payments bitcoin related, AND on top of that add online payment stuff that are digital, like the biggest example is steam games, buying games is digital and if you spend bitcoin on that and anything like that which is online and digital and no need for shipping etc, could use bitcoin. If we do just those two bitcoin could be over 100k easily.
You are not a believer at all. We believe cryptocurrency will replace the bank as the email did to the post office. I believe that cryptocurrency is the future of changing the old world of the triangle. Do you believe in 3,6,9 theorem? where the 3 is triangle and 6 is hexagon a puzzle that I finally solved. I think we are heading into the world of an advanced civilization that is the hexagon. Yes, cryptocurrency will replace the old obsolete fiat system of centralization.
That is all I want to say for now.
Cryptocurrency will never be able to completely replace fiat money. In the best case for it, cryptocurrencies will only coexist with fiat currencies, and it is possible that even dominating them, but you should not wait for a full replacement, for the foreseeable future for sure.That is all I want to say for now.
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Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
the current goal approaching that is to make people in the world use bitcoin or cryptocurrency as another way to make payments. Many limitations of cryptocurrency have to replace fiat, even more so in a crisis like this. although many people use cryptocurrency, most people only see it as a business area. I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
You are not a believer at all. We believe cryptocurrency will replace the bank as the email did to the post office. I believe that cryptocurrency is the future of changing the old world of the triangle. Do you believe in 3,6,9 theorem? where the 3 is triangle and 6 is hexagon a puzzle that I finally solved. I think we are heading into the world of an advanced civilization that is the hexagon. Yes, cryptocurrency will replace the old obsolete fiat system of centralization.
That is all I want to say for now.
That is all I want to say for now.
Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
Recently, the Chinese government made it mandatory for the merchants to accept payments in physical cash, after promoting digital payments for more than a decade. A lot of the citizens (especially the elderly), still find it very challenging to use the online payment methods. And not all of them own smartphones. But for cryptocurrency users, we can get around this problem by making physical Bitcoins. Anyone remember the Casascius physical bitcoins?
Do you have a source for this? In fact, I read exactly the opposite: that cash transactions were banned during the covid-19 epidemic (but I believe it was only a temporary ban).
Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
Cryptocurrency will be used where it is convenient to do.
The better and more convenient the infrastructure for using cryptocurrency in the country, the higher the likelihood that each individual citizen will use it.
In developed countries, everything looks much better than in less developed countries.
Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
This problem may also be encountered by those who have a Bank card at a time when there is no electricity and there is no possibility to use the terminal. Therefore, in addition to a credit card, everyone should have a Fiat. And you correctly said that in order to make a payment in cryptocurrency, it is necessary that everyone has a smartphone to make the payment.
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
I still agree with the author, that crypto cannot replace fiat money. and I have my own reason by what I'm actually experiencing in this market. In the past, I was just a bounty hunter and didn't want to learn about the crypto trading market. But as the campaigns started to dwindle and shoddy, I tried trading and realized it was a very tough field.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
The news that crypto can replace fiat, a lot of good news about crypto but have you seen it widely applied in technology countries yet? Totally a zero!
There is no growth in payment services and there's no reason people change their habits to use a coin that has a very high volatility in minutes!
The opinion that you are agreeing and believe that the future of the world will use crypto, you should reconsider. After being more experienced in this market and being passed on by many predecessors, my conclusion for the crypto market is MANIPULATION! My advice is to stay away from the good news on Twitter, sharks will swallow you anytime you fall into its trap.
Agree. Not all nations have the technology to implement the cryptocurrency system in their economy. So I think that the currency of any nation will remain in its finances. If there will be the handling of cryptocurrencies in cities that have better technology infrastructure.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
I have seen it in my country. When the banking system implemented mobile payment and not all citizens have access to a smartphone.
Recently, the Chinese government made it mandatory for the merchants to accept payments in physical cash, after promoting digital payments for more than a decade. A lot of the citizens (especially the elderly), still find it very challenging to use the online payment methods. And not all of them own smartphones. But for cryptocurrency users, we can get around this problem by making physical Bitcoins. Anyone remember the Casascius physical bitcoins?
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