Topic: Cryptocurrency will not replace fiat currency - page 9. (Read 2451 times)
Well you are not wrong you are only saying your mindset, but the truth is that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future.
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?
I think that's the reason why the market is unstable, because most of the cryptocurrency in the market was not utilized the way it was made, instead we only use it more for trading and investment purposes, because of these reality, most of the top cryptocurrency in the market like Bitcoin,Eth,XRP,EOS etc was just easily losing its value overtime because they are all dependent on trading demand and not for its true function and purpose. 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?
The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.
some understand it already and they already use it while some have more expectations on crypto and they think that crypto can replace fiat in the future . you already explain here if what is the purpose of crypto .
crypto uses an internet and if no internet no crypto also , that is also the time that we can make use of our fiat currency . see the difference ? crypto is not too mighty to overtake fiat
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?
I think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being. 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'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.
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?
I think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being. 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'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.
Bitcoin was created for transaction but having all these altcoins makes everything look different.
Altcoins are mainly created for the purpose of investment and since they are similar to Bitcoin, that makes people believe they are the same and they now see Bitcoin as an investment and not as a method of transaction.
I won’t really blame them and adding the volatile nature of Bitcoin also discourages people from using it as a method of transaction. Moreover I don’t expect Bitcoin to replace fiat, I know for sure that even if we are going to start making use of cryptocurrency they are going to be the ones that are created by the government.
Altcoins are mainly created for the purpose of investment and since they are similar to Bitcoin, that makes people believe they are the same and they now see Bitcoin as an investment and not as a method of transaction.
I won’t really blame them and adding the volatile nature of Bitcoin also discourages people from using it as a method of transaction. Moreover I don’t expect Bitcoin to replace fiat, I know for sure that even if we are going to start making use of cryptocurrency they are going to be the ones that are created by the government.
It's very true that BTC was initially developed to solve problems like those posed by intermediaries, curbing drawbacks to p2p payments. However, nowadays many see BTC as store of value, and hence it will never replace FIAT. Even if it served its original purpose to the core, being used mainly for payments and not long term investment per say, it can't still replace FIAT. The reason is because both crypto and FIAT are relevant, and crypto can't replace FIAT entirely in the real sense.
Of course crypto is a digital and Virtual currency which can't be appreciated at local trades that uses fiat cash. It's complicated because it operates digitally, and not all part of the world already implemented internet on their every transactions. So this is impossible to replace fiat as mode of payment on all sectors, most probably there's an optional choice whether fiat or crypto because both are application for this modern times.
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?
I think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being. 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'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.
The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.
some understand it already and they already use it while some have more expectations on crypto and they think that crypto can replace fiat in the future . you already explain here if what is the purpose of crypto .
crypto uses an internet and if no internet no crypto also , that is also the time that we can make use of our fiat currency . see the difference ? crypto is not too mighty to overtake fiat
if I look at the blockchain function in general, satoshi nakamoto makes bitcoin to eliminate the centralized system,
That is why cryptocurrency has the advantage of decentralization, if it becomes a currency or a means of payment or just investment, it all depends on the wishes of the market, because the sustainability and function of bitcoin depends on the community.
That is why cryptocurrency has the advantage of decentralization, if it becomes a currency or a means of payment or just investment, it all depends on the wishes of the market, because the sustainability and function of bitcoin depends on the community.
Crypto to replace fiat currency is tantamount to saying we will replace the government in their position .
That's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.
if ever the government will fully adopt this system the very first thing is to have full access or have strict rulings in order to control the flow of investment that will be used inside this industry. It will not get the same treatment since no one / no government will accept system that exist without any house rulesThat's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.
that being implemented to avoid abused.
That's correct, even the king of crypto currency doesn't have an identity to replace Fiat, but in most of the countries the government is not aware of what crypto is and they are banning straight away. The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.
Crypto to replace fiat currency is tantamount to saying we will replace the government in their position .
That's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.
That's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.
Cryptocurrency is created for us to be able to do some transaction worldwide in just one click. It fasten our transaction since it is working thru internet. It will help our government to have a faster improvement on their economy since the transaction is now faster. That is the main goal of crypto and not to replace the fiat money that we have. I hope some country understand it so that they will not ban BTC anymore.
I can't argue with that cause youre right. It seems that majority of the crypto community are not eyeing on the potential or purpose of crypto. The main concern now is how to earn and profit from them. Many paltforms are focuses on liquidity right? Why not we concentrate on those who can replace modern technology in terms of use case. What if someone invented a tech that can replace internet that actually dont need to use online? Maybe that's innovation. For now btc is viewed as source of income for many. Admit that everyone dont be a hypocrite.
of course most users of bitcoin and cryptocurrency only use bitcoin for trading and investment. they feel loss if using bitcoin for payment tools. because by continuing to hold bitcoin we can make more fiat money. and to make payments we use fiat money. and also the biggest obstacle why bitcoin has not become a means of payment is that its value is very volatile and the number of stores that are willing to accept bitcoin as a means of payment is very limited and few in number.
Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.
I think the principle of cryptocurrency is known by the public. it's just that more people need cash than digital, because of that, many people are more fiat than crypto.as far as I know, people have learned to use crypto, because of the encouragement of digital payments that already exist today. I think, little by little, crypto will become very common, it's just that I don't think that crypto will exceed fiat.
Regardless of how popular they are in the world and a lot of people are using them whether as an investments or things, it's still cannot replace fiat currency. Some people believe that it'll replace fiat eventually. But, you could clearly see that not everyone has access of using them freely. Tons of them still doesn't even know what a cryptocurrency is. Cryptocurrerncy is just like a digital investment, where in the end you're going to need fiat currency to how much their value. So having said that, it's hard to imagine them replacing fiat currency. At least not now or in the near future.
Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.
cryptocurrency is difficult to make as a global currency, you can see an example of a very limited bitcoin coin supply if bitcoin is used as the currency used by many people then it will make bitcoin expensive and it will be very difficult to get bitcoin but there will definitely be manipulation price because the price is not stable, whereas if you use an unlimited supply then it will make the price can be destroyed instantly because of the influence of the supply that is too much and will make the price very cheap.
so the conclusion is cryptocurrency is still very difficult if used for global payments.
Sad to say but very true, people enters into this space because they knew that they can make money out of it. Some people does trading for a living because its volatile and some just hold hoping that it will become mainstream one day. Bitcoin becomes digital gold and not a currency, but if people realize the true reason why bitcoin is created they will use it on a daily basis.
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