Like imagine if there will be a devaluation of the main currencies due to economy failing.
Topic: Cryptocurrency can not replace fiat currency. - page 9. (Read 2221 times)
I think crypto has a potential of replacing fiat, but only in some specific scenarios.
Like imagine if there will be a devaluation of the main currencies due to economy failing.
Like imagine if there will be a devaluation of the main currencies due to economy failing.
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.
well there are alot of post about that,but thats a long term thing to happen.it will take alot of time and years for structures and also country's government too.bit coin is a crazy good coin and also mother of coins . but for replacing fiat bit coin is not good.there will be more and faster coins to replace bitcoin.the bold things here is blockchain and cryptos not bitcoin.remember what mail system did to post stations! it will take time!
It will take a long time to replace the cryptocurrency fiat currency You just said that now is not a good time to replace the fiat currency in crypto While the current blockchain will facilitate transactions not everyone will support it. When crypto decentralized nobody would want to work in a centralized way.
Yes, in cryptocurrencies there is a transfer fee, and the lower the payment amount, the more commission will be charged in percent. Cash is not only faster and more reliable, but you do not need to overpay commissions when using them and this is a big plus.
Crypto is more applicable for remittance and those platform that does not accept fiat or does charge a big fee when transferring money using a 3rd party payment method, like in gambling, you use credit card to gamble and they require fees and also in fiat gambling sites they have a high limit but in crypto gambling, you can gamble even with a penny, that's how convenient it is, for this kind of transaction we are beating fiat but in general fiat is still more useful and safe as well.
Cryptocurrencies will not be able to completely replace paper money in the foreseeable future. If I have cash in my wallet, then I can use it whenever I want and where I want, well, where they are ready to accept, of course. And if I have cryptocurrencies, but the phone is dead or does not have an Internet connection at all, these are serious problems, and it is very difficult to solve them.
If we think this is possible, then we are thinking unrealistically.
Bitcoin is just an online currency but the government could make better than that, more faster and less transaction fee or even free if they'll fully convert into digital currency. Cryptocurrency is a good investment too while fiat is not a good investment as it will just inflate its value since people have no control if the government will print money to bail out some economic problems.
as long as fiat currency still exists, then cryptocurrency will be an alternative, it is indeed very difficult to form this world revolution, but the opportunity for cryptocurrency is still there, if the crypto currency is supported by many countries I am sure FIAT will lose
Yes, cryptocurrency is not going to replace our current monetary system, but the government might combine it in the future. Lots of countries might create their own cryptocurrency and it will be as an asset that you will buy from your bank just like you can buy foreign currencies from your banks; a new law in Germany will even be allowing banks to buy and sell cryptocurrency to their customers.So, it’s not going to be any replacement. And moreover when that time comes, it’s not going to be Bitcoin and the cryptocurrencies that we are seeing now that are going to be the replacement, government will create their own cryptocurrencies that will be stable.
as long as fiat currency still exists, then cryptocurrency will be an alternative, it is indeed very difficult to form this world revolution, but the opportunity for cryptocurrency is still there, if the crypto currency is supported by many countries I am sure FIAT will lose
The fact that cryptocurrency already exists and has a certain value is already a victory. For fiat currencies, it’s like a bone in the throat, an alternative that extends our freedoms and reduces the control of the fiat system. To abandon fiat currencies completely means not only changing the currency used but also reformatting the world device system. It will take decades.
For now it's impossible replace fiat because of its short term speculations in the price but once the recession goes completely severe. Trust people will panic buy Bitcoin just like in Italy where cash where useless due to the coronavirus.
If you have truly use Bitcoin, then you should know that its way more innovative and convenient than traditional money.
If you have truly use Bitcoin, then you should know that its way more innovative and convenient than traditional money.
Cryptocurrencies will not be able to completely replace paper money in the foreseeable future. If I have cash in my wallet, then I can use it whenever I want and where I want, well, where they are ready to accept, of course. And if I have cryptocurrencies, but the phone is dead or does not have an Internet connection at all, these are serious problems, and it is very difficult to solve them.
If we think this is possible, then we are thinking unrealistically.
Bitcoin is just an online currency but the government could make better than that, more faster and less transaction fee or even free if they'll fully convert into digital currency. Cryptocurrency is a good investment too while fiat is not a good investment as it will just inflate its value since people have no control if the government will print money to bail out some economic problems.
Cryptocurrencies will not be able to completely replace paper money in the foreseeable future. If I have cash in my wallet, then I can use it whenever I want and where I want, well, where they are ready to accept, of course. And if I have cryptocurrencies, but the phone is dead or does not have an Internet connection at all, these are serious problems, and it is very difficult to solve them.
as long as fiat currency still exists, then cryptocurrency will be an alternative, it is indeed very difficult to form this world revolution, but the opportunity for cryptocurrency is still there, if the crypto currency is supported by many countries I am sure FIAT will lose
Fiat serves as the main currency from all countries around the world, there's no question about that though the potential for this alternative money to coexist with the regular currency but replacing it from the entire system might be too difficult to happen and it will really take a lots of time and progress before crypto will be scene for future usages. 
as long as fiat currency still exists, then cryptocurrency will be an alternative, it is indeed very difficult to form this world revolution, but the opportunity for cryptocurrency is still there, if the crypto currency is supported by many countries I am sure FIAT will lose
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.
well there are alot of post about that,but thats a long term thing to happen.it will take alot of time and years for structures and also country's government too.bit coin is a crazy good coin and also mother of coins . but for replacing fiat bit coin is not good.there will be more and faster coins to replace bitcoin.the bold things here is blockchain and cryptos not bitcoin.remember what mail system did to post stations! it will take time!
"can't" and "shouldn't" are totally different things, we are talking about why it shouldn't replace fiat and not can't here mostly. It can't replace because it is technically impossible to divide 21 million bitcoins to everyone around the world, even if 1 satoshi worths something that is not possible, we would need something bigger.
Maybe all nations could have their own version of stable currency one day, that is not impossible and could actually be used, stable currencies plus apps in every nation to actually help get paid and pay stuff would work, but that would be not really a crypto currency but more like a stable currency built on a blockchain, takes the development of bitcoin but leaves all the decentralization and freedom that it provides.
Maybe all nations could have their own version of stable currency one day, that is not impossible and could actually be used, stable currencies plus apps in every nation to actually help get paid and pay stuff would work, but that would be not really a crypto currency but more like a stable currency built on a blockchain, takes the development of bitcoin but leaves all the decentralization and freedom that it provides.
I think this can only be possible when all countries uniformly has developed to such level that electricity and internet is available all the time and is very very cheap. Smartphones will be in hands on every person and every person be educated enough to know and use the technology.
Replacing fiat money with cryptocurrency is a utopia. This certainly will not happen, because fiat money is used on the black market (they work in conjunction with the government), it is difficult to track the catch when you use cash. In any case, the government will not want to switch to an economic system that is decentralized. After all, we all understand that we have a centralized economy at a given time.
Cryptocurrency will not replace fiat if there will be no continous innovation to integrate cryptocurrency in the transactions in different businesses.
Cryptocurrency can be used as payment right now. To do this, the store will need a terminal that will convert cryptocurrency into the national currency. Thus, the cryptocurrency will not necessarily have to replace Fiat, it can work in parallel.
Cryptocurrency will not replace fiat if there will be no continous innovation to integrate cryptocurrency in the transactions in different businesses.
Regardless, it is the government that will approve and whether we like it or not, we will be living under the centralized government, hence, they will not allow crypto to replace the money that anytime they can print, bitcoin is just likely an alternative, that's the best it can achieve and a good investment as well. 
Many people are still not aware of cryptocurrency existence especially those who live far from the city and dont have any kind of gadgets to use for internet access. Due to this it will be hard to believe that cryptocurrency can replace fiat because we know fiat are recognize worldwide and the main currency to transact for goods and other services. We cant spend crypto to buy in small stores because only few merchants are accepting it. There's more room for development in crypto and I wont be surprise if the time will come crypto can work the same as fiat in all aspects.
Cryptocurrency will not replace fiat if there will be no continous innovation to integrate cryptocurrency in the transactions in different businesses.
At some point yes, the fiat currency is cannot replace totally, because many people now are using fiat currency instead of crypto. Many people nowadays didn’t now totally about crypto currency, they did not know how to use it and what is the objective of making crypto currency. In my own aspect, replacing fiat currency into crypto currency is very difficult and it needs a lot of time before implemented on it. But we are in the modern world so that many years from now the cryptocurrency is our primary currency for many transactions.
- Your speculations have a lot of unwarranted points when you say that crypto will become our main currency because even as the world becomes more modern, transactional activities are still under the control of the government, older systems can only be upgraded to fit over time, an unknown system such as crypto is difficult to compete. You should maintain the first aspect of your point of view, crypto will only be in the scope of use at the personal level, the national level and fiat position replacement has closed with it since it didn't receive government control. At some point yes, the fiat currency is cannot replace totally, because many people now are using fiat currency instead of crypto. Many people nowadays didn’t now totally about crypto currency, they did not know how to use it and what is the objective of making crypto currency. In my own aspect, replacing fiat currency into crypto currency is very difficult and it needs a lot of time before implemented on it. But we are in the modern world so that many years from now the cryptocurrency is our primary currency for many transactions.
I think we are misunderstanding something here.
A country would never, I mean never create a cryptocurrency that is decentralized. It is obvious and it is true that they would create a digital currency of the fiat of their fiats in the future, there is a difference there. Debit or Credit Card, Mobile Payments and other payment methods are being used and most of them don't really need for us to bring our fiats, the future is already leading there.
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