I agree with you. In general, Fiat is an irreplaceable option in this world, and it is certain that no one will use crypto to pay because the value of the coins in this market is very volatile. I think people prefer to use cash or use credit cards to pay because it is a lot faster. In addition, many large countries around the world have not yet legalized this market, so in general, the crypto market is still not comparable with other potential markets.
Topic: Cryptocurrency will not replace fiat currency (Read 2451 times)
I agree with you. In general, Fiat is an irreplaceable option in this world, and it is certain that no one will use crypto to pay because the value of the coins in this market is very volatile. I think people prefer to use cash or use credit cards to pay because it is a lot faster. In addition, many large countries around the world have not yet legalized this market, so in general, the crypto market is still not comparable with other potential markets.
indeed it was created to make it easier to do transactions but because the price of bitcoin that cannot be set thus making some people forget about the main purpose of bitcoin, they use it to get profit
This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused
CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuanThis is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused
CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuanYour points are absolutely true! Bitcoin is a currency system which effectively eliminates the need of an intermediary and is not limited by international borders! Still we take it as an investment! But here we need to understand why!
Being a common people, how often do you really send international remittance? How often do you really make international purchases? How often do you face such situation where you can't use your bank account to send or receive funds? If you can answer these questions, your concern will also be answered!
Those who need to use bitcoin for anonymous and intermediary free international transactions, they are using it! But the number of such people is very less! Majority of the bitcoin users look at it as a method to make money, either by holding or by trading and there's nothing wrong about it!
Bitcoin is popular today because it has given financial freedom to many people. So if people are happy that way, let it be an investment and a reason to happiness!
great explanation mate, of course "few" people who use bitcoin are for investment like me, and we cannot be completely separated from FIAT we still need them.Being a common people, how often do you really send international remittance? How often do you really make international purchases? How often do you face such situation where you can't use your bank account to send or receive funds? If you can answer these questions, your concern will also be answered!
Those who need to use bitcoin for anonymous and intermediary free international transactions, they are using it! But the number of such people is very less! Majority of the bitcoin users look at it as a method to make money, either by holding or by trading and there's nothing wrong about it!
Bitcoin is popular today because it has given financial freedom to many people. So if people are happy that way, let it be an investment and a reason to happiness!
usually not many super/mini market are support electronic payment moreover for common people who are not understand about cryptocurrency, that's why i think bitcoin is alternative investment but have value more than invesment
This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused
CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuan yes, although the purpose of bitcoin as a transaction tool is like a paper currency but it is unlikely that can happen. in fact, there are still many countries that do not recognize or do not support the presence of the crypto industry. on the other hand I think people prefer to use crypto only for investment tools. especially like BTC is a profitable investment.
We can't stop investment, who invest only in making profits. Like the internet was invented for a good reason but some people are using it for bad purposes. It doesn't mean that we're not using Bitcoin which purpose Bitcoin was invented. Different people always exist and these people will take some time to use in real cases.
This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused
Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
I really think it will in due time, not now of course but it will come a time. We just need some massive adoption which would not happen now given the different market situation in every country. But it would still be great to see it happening.
yes, although the purpose of bitcoin as a transaction tool is like a paper currency but it is unlikely that can happen. in fact, there are still many countries that do not recognize or do not support the presence of the crypto industry. on the other hand I think people prefer to use crypto only for investment tools. especially like BTC is a profitable investment.
Cryptocurrency would not replace Fiat money because each has it's uniqueness not all the countries have adopted cryptocurrency and not everybody knows or have knowledge about cryptocurrency and people can invest with Fiat currencies too, so I don't think it's wrong if people invest with cryptocurrency too. As a matter of fact I don't think Bitcoin has been derailed of its duties, most of the people that have it use in for transactions and also for investment which is not bad, so I think it's still moving in the right direction
It's part of the progress of cryptocurrency. Just like what they tell about cash being the king, the same goes for cryptocurrencies.
The main idea is still there but it has evolved over time and we should be proud of it seeing how these things are changing thus, making crypto useful and valuable.
The main idea is still there but it has evolved over time and we should be proud of it seeing how these things are changing thus, making crypto useful and valuable.
I don't see cryptocurrency fully replacing fiat, even though Bitcoin was created as a means of payment but remember, not all people around the world have been able to get the knowledge, practicalise using and adoption of cryptocurrency. Even some governments haven't adopted it fully and so on.
We still invest with fiat currencies and so nothing is wrong with investing in cryptocurrency.
We still invest with fiat currencies and so nothing is wrong with investing in cryptocurrency.
I only consider a few cryptocurrencies to be good, but these few cryptocurrencies cannot replace the first we are using. Bitcoin is a good cryptocurrency, but the world can’t be using one currency, so there will be need for other currencies.
My thought is that cryptocurrencies are not really going to replace Fiat, but there will be some areas where they will be needed. You can take Ripple (XRP) as an example: their main purpose, as explained on their siteis to be a mediator for other exchanges. Bitcoin might still remain the peer-to-peer type of payment which it was created to be. As for the other altcoins, I don’t know where they will be heading to. The government also have their own plans to create cryptocurrency that’s going to be backed by fiat.
My thought is that cryptocurrencies are not really going to replace Fiat, but there will be some areas where they will be needed. You can take Ripple (XRP) as an example: their main purpose, as explained on their siteis to be a mediator for other exchanges. Bitcoin might still remain the peer-to-peer type of payment which it was created to be. As for the other altcoins, I don’t know where they will be heading to. The government also have their own plans to create cryptocurrency that’s going to be backed by fiat.
The transition of stable and noble cryptocurency to serve as Fiat is a very big one that the Fiat generals are trying to make sure it dosent happen. With this also are the scalability and volatility issues that needs to be taken care of. But still I am hopeful that it will happen but it will take a long while.
Digital currencies will have their haven in the world in the future but now it's not possible yet, once we go fully digital then digital money will have better chance, replacing Fiat is only impossible presently but not in the future
We don't need cryptocurrency to go fully digital, look at china they are cashless society where paper money is rarely used, and they achieved it without using crypto, cryptocurrency will not replace fiat ever. 
Digital currencies will have their haven in the world in the future but now it's not possible yet, once we go fully digital then digital money will have better chance, replacing Fiat is only impossible presently but not in the future
Because there is no replacement that will happen and even that mass adoption comes in our way still Fiat will remain and continues to be used.I have seen so many thread such as this but yet there are no good explanation why Fiat needs to be replaced and why need crypto must remain.
Crypto is true an advantage but yet Paper money is usable in some areas of the situation ,though things may change if the whole world will find ways to make this possible of course very rarely to happen that the world will stand in one thing together.
Currently the fiat currencies are based on different kinds of gold as stable currency which is controlled by the central bank and commonly use by our real market for payment in my opinion there's no need to eliminate whereas cryptocurrency and fiat is suitable to used and it seems like peer and it is important during this economic crisis.
Indeed, it can work and exist together but there's no need for crypto to replace fiat completely. There are things crypto cant do like payment for buying goods in an small store, we know many people are still not aware of crypto existence while fiat cant be an investment due to the stable price.
Digital currencies will have their haven in the world in the future but now it's not possible yet, once we go fully digital then digital money will have better chance, replacing Fiat is only impossible presently but not in the future
the present consideration is not even finished yet. so many governments support, reject, and even be neutral about cryptocurrency. many weaknesses that crypto has until now that makes it unable to replace Fiat. for now, cryptocurrency is only used as an alternative. in addition, the use of crypto is still quite difficult for those who do not really understand technology.
Until now Yes, Bitcoin hasn't been able to replace fiat money, But we do not know going forward, especially if there really happens a terrible crisis because the Corona virus. I once read an article that discusses the global conspiracy to realize the digital world, Of course their main point is money, They want to replace fiat money with digital money. Just wait and see what will happen. Jump to: