i am not sure anymore about what will happen with fiatmoney , if i look how many dollars are printed and pushed into the economy , i thought that was the reason why bitcoin was created , just to have 21.000.000 as a maximum and never more of them , let's see how long they can print more fiatmoney without getting in trouble because of that
it all has a theory. they do printing money because there are back ups in the back, like gold, silver, and others. however, it seems that this time the value has exceeded the back up itself. however, there are things that make them able to do printing money. because I feel that printing is impossible without a reason because it all has records. 
Topic: Cryptocurrency will not replace fiat currency - page 4. (Read 2471 times)
i am not sure anymore about what will happen with fiatmoney , if i look how many dollars are printed and pushed into the economy , i thought that was the reason why bitcoin was created , just to have 21.000.000 as a maximum and never more of them , let's see how long they can print more fiatmoney without getting in trouble because of that
From the title of your topic, it is very clear that this will never happen, although at this time many media outlets claim that VD-19 is infected through paper money, but certain countries do not use cryptocurrency to useas paper currency.
Maybe it could have happened in certain countries crypto used as a sale / purchase transaction in one country, but still in value in the country's currency, if VD-19 is not controlled.
For example:
People use crypto in transactions but still measure with fiat money, I mean, if you buy a car for $ 7000, maybe you can pay with crypto adjusted to the value of the crypto used, for example, you pay with ETH with a car price of $ 7000 enough to pay ... ETH is adjusted, with ETH value at the time of use, and so on....other crypto.
Maybe it could have happened in certain countries crypto used as a sale / purchase transaction in one country, but still in value in the country's currency, if VD-19 is not controlled.
For example:
People use crypto in transactions but still measure with fiat money, I mean, if you buy a car for $ 7000, maybe you can pay with crypto adjusted to the value of the crypto used, for example, you pay with ETH with a car price of $ 7000 enough to pay ... ETH is adjusted, with ETH value at the time of use, and so on....other crypto.
Crypto is not utilized as a medium of exchange, but as an investment tool because of it's long term potential. As long as hoarding crypto is profitable there is no way it can replace fiat. One of the reasons why it is not yet suitable is it's accessibility. There are only few ways to buy and cash out crypto and not to mention we are not yet on the peak of mass adaptation.
That's a mere fact that cryptocurrencies cannot replace the fiat money but it can be a alternative for some payments especially for those who want to have fast transactions. Bankers will do a way in order to people to not patronize cryptocurrencies because they know that mass adoption can occur. Cryptocurrencies have a future but we should look the whole picture in order for us to understand what's happening in the market.
what way was that ? what bankers/banks can do to stop cryptos or to stop people from patronizing it ? . they are too late actually because cryptos right now are already popular and the mass adoption already happen long time ago .
id be happy if banks/bankers starts to promote something like giving a good interest just to compete with cryptos . for sure people will get attracted to that offer but i dont think people will drop cryptos after that but instead they will invest on both .
I look forward to the day that every trader and investor leaves the scene. "I'm here for the tech" is a meme until it's true.
Crypto will not replace fiat in the sense that the traditional and currently in power banking systems will suddenly give up their power and issue statements to everyone that they should use Bitcoin. This will never happen, and said institutions will only do everything in their power to hurt the mass adoption of cryptocurrencies as it threatens their business model as well as their power.
If crypto does replace fiat, it will do so because the masses are pushed to use it for some reason (Corona, banks shutting down, hyper inflation (coming soon to the USD), etc) and then they keep using it once the world returns to normalcy. The last possibility is crypto slowly gains adoption naturally and eventually becomes preferable to a credit card. However, I really doubt that will happen.
Regardless, I'm happy to be here without said adoption. Bitcoin offers a great and useful technology. If you aren't using it, you're the one losing out.
Crypto will not replace fiat in the sense that the traditional and currently in power banking systems will suddenly give up their power and issue statements to everyone that they should use Bitcoin. This will never happen, and said institutions will only do everything in their power to hurt the mass adoption of cryptocurrencies as it threatens their business model as well as their power.
If crypto does replace fiat, it will do so because the masses are pushed to use it for some reason (Corona, banks shutting down, hyper inflation (coming soon to the USD), etc) and then they keep using it once the world returns to normalcy. The last possibility is crypto slowly gains adoption naturally and eventually becomes preferable to a credit card. However, I really doubt that will happen.
Regardless, I'm happy to be here without said adoption. Bitcoin offers a great and useful technology. If you aren't using it, you're the one losing out.
That's a mere fact that cryptocurrencies cannot replace the fiat money but it can be a alternative for some payments especially for those who want to have fast transactions. Bankers will do a way in order to people to not patronize cryptocurrencies because they know that mass adoption can occur. Cryptocurrencies have a future but we should look the whole picture in order for us to understand what's happening in the market.
My portfolio is really hurting right now, apart from TEM which seems to be stable.
Digital currencies such as Tem which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.
Digital currencies such as Tem which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.
One of the ways or the surest way that would make Bitcoin to serve its main purpose is to be approved by the government. humans are mostly subject to government rulings. So, it is what they are told to accept that will be accepted. If the government eventually approves it, adoption will speed up and by so doing, achieve its sole purpose.
Even after its approval, Fiat will still be in use.
Even after its approval, Fiat will still be in use.
During this pandemic Digital money is the perfect solution - no touching, no transmission.
Digital currencies such as Tem which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.
TemTum is going $1+ when the economy settles and announcements about partnerships with governments are announced.
Digital currencies such as Tem which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.
TemTum is going $1+ when the economy settles and announcements about partnerships with governments are announced.
It will never happen as the crypto is not regulated and that means if crypto is not yet getting approval. It's better to consider crypto as an alternative commodity or it much better to be considered it as a new kind of investment.
We have been seeing so many cryptos created anytime and if we are trying to take crypto as a thing that will replace fiat and we don't even need a thousand crypto.
We have been seeing so many cryptos created anytime and if we are trying to take crypto as a thing that will replace fiat and we don't even need a thousand crypto.
The process towards adoption is already underway, as China has already spread word of making their crypto coins, Venezuela has already issued petro coins but seems less desirable. Indeed, many countries still recognize limited commodities but this is a good step
That is true. Even Bitcoin is decentralized, I think there are only few Users that use bitcoin as a payment.On the contrary, A lot of people use bitcoin for trading to get profits.
Bitcoin is like a stock market . It is way to get more moneys to become rich.
Bitcoin is a coin that can be manipulated at any time and this is a game that you need to be more careful from the start. This market is not like a stock market because all the coins in this market rely heavily on Bitcoin and even a slight change will make many other altcoins vulnerable. I'm not sure what the future of this market will be like but this is the best place to make a profit if you have good knowledge. Bitcoin is like a stock market . It is way to get more moneys to become rich.
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?
For now, surely the cryptocurrency is not yet tending to replace the fiat currency since fiat currency is still the circulating currency and it is the main currency of all of the countries, circulated by the central banks and already recognized by the community. Comparing it to bitcoin where there is still a small percentage that trusted bitcoin as a currency. A lot of people still don't trust bitcoin afraid that it is just some kind of scam or pyramiding scheme. I think bitcoin was still a great choice for just an alternative for fiat money for online use and also an alternative payment option for everyone, but surely we never know what is going to happened in the coming years I can't really imagine how bitcoin is going to be a currency that the government is going to use as the main currency but I think adjustments could go in the future. 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?
Alternative is already there, it is still a quite achievement to have and I still think it is marvelous how far we have come so far with bitcoin.
If you do not think bitcoin is an alternative to fiat, tell me what other currencies other than fiat you can use to buy stuff online, there is no "currency" other than fiat and bitcoin in online shopping, stuff like krill or paypal or whatever are all payment systems and not currencies themselves, there is no stuff like "I bought 3 paypals last yesterday" or whatever. Which is why I think bitcoin is already an alternative. However maybe it can't reach that standard of currency, maybe fiat can stay forever and that is something we will never know until it really happens.
If you do not think bitcoin is an alternative to fiat, tell me what other currencies other than fiat you can use to buy stuff online, there is no "currency" other than fiat and bitcoin in online shopping, stuff like krill or paypal or whatever are all payment systems and not currencies themselves, there is no stuff like "I bought 3 paypals last yesterday" or whatever. Which is why I think bitcoin is already an alternative. However maybe it can't reach that standard of currency, maybe fiat can stay forever and that is something we will never know until it really happens.
The reality on the ground is that, though Satoshi had it in mind creating a decentralized cryptocurrency the low supply of bitcoin also make it decent enough to invest into. So there are two communities now: those using bitcoin as a currency and those investing in as an asset. You have to choose where you belong. There are online market stores that accept bitcoin as payment whereas there are platforms like Stakecube that allows users to hold their bitcoin for profits after a period of time.
As much as I support crypto currency or digital currency I don't see that happening in the next 10 years in a large scale . Although there are reports that China is preparing it own version of currency called DC/EP it will be centralised and controlled. I don't see decentralized currency replacing Fiat.
Yes, until now there is no decentralized currency that has replaced Fiat, although the value is almost the same and between fiat currency and digital currency it will obviously be different ways of using it, although we must support and use the two currency models accordingly each other's needs.
That is true. Even Bitcoin is decentralized, I think there are only few Users that use bitcoin as a payment.On the contrary, A lot of people use bitcoin for trading to get profits.
Bitcoin is like a stock market . It is way to get more moneys to become rich.
Bitcoin is like a stock market . It is way to get more moneys to become rich.
If the government supports the use of cryptocurrency in the substitute as fiat currency then this can happen but the process that must be lived is very complicated because it should be able to believe in all parts of the community, because its should be online but if it is made as a fiat currency then it is very complicated, if the government supports all there is certainly a way.
Both would more likely co-exist in the world market, at the present view, since there are countries who do not recognize the existence and advantages of cryptocurrency and blockchain technology. We are on the digital era wherein most of the things are aligned in technology. There might be a day wherein fiat will no longer be used due to the evolution of technology but there is also a possibility that another digital currency would be created that would more promote equality, which is quite hard to see in Bitcoin that has unstable market price.
The development of new technologies cannot be stopped, and this applies to the banking sector. Now more than 60 countries are on the way to creating their own digital currency. And this digital currency will definitely replace the Fiat currency.
I would agree with the turnover of digital currency but I doubt that it would be cryptos that would be the center of currency in the future. There are still issues such as decentralization and lack of taxation(?). But who knows, it is still too early to make conclusions. If ever there will be adjustments that would meet the demands of thr majority of countries, that could be the answer.
yes I think so too even though some people say that crypto will be a means of payment in the future, but it seems to be inversely proportional to the fact people prefer to use crypto as an investment rather than as a daily payment.so fiat money won't really disappear.
The development of new technologies cannot be stopped, and this applies to the banking sector. Now more than 60 countries are on the way to creating their own digital currency. And this digital currency will definitely replace the Fiat currency.
yes I think so too even though some people say that crypto will be a means of payment in the future, but it seems to be inversely proportional to the fact people prefer to use crypto as an investment rather than as a daily payment.so fiat money won't really disappear.
The development of new technologies cannot be stopped, and this applies to the banking sector. Now more than 60 countries are on the way to creating their own digital currency. And this digital currency will definitely replace the Fiat currency.
Jump to: