Do you believe that digital currencies will replace Fiat? - page 4.

Kiweikoo

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Quote from: SpinozaBenedikt on November 14, 2017, 11:30:30 AM

The biggest problem is the creator's anonymity. Any architectural plan has a fulcrum and only the author knows it. I think that the crypto-currencies will become densely used, but they will hardly be able to replace the commodity exchange. In the world there are enough countries with an undeveloped system of mutual settlements in the form of crypto-deniers. The global access to the world market can be improved only due to simplified storage systems and data transmission speed. The supporters of the conspiracy theory certainly rejoice, the chips implanted in the body are not so far.

As soon as large software corporations announce that the solution is found in the form of chips, we can assume that the global system of withdrawing cash and gold has reached its peak.

It is agreed that bitcoin is better than fiat in all aspects but what you have said, bitcoin will replace fiat that will take more than a century I guess. There are hundreds and thousands of people who even don’t know about bitcoin and once they know about it then they will get into it, market will increase and then there will be legalization of bionic and then it can replace fiat.

crustez00

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I don't think fiat will be completely gone in the future. because no matter what, there's still people that not know digital currencies. Like the one in rural area/ remote area. they will always use fiat for trading in real life

that's what i thought

Boriscarter1

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Not in the near future. It'll be interesting to see a merger of fiat and crypto, but I think what's more likely is that you'll have crypto go mainstream in different verticals. Especially when you consider the way dapps on the Ethereum blockchain (for example) are going to integrate into our daily lives. So maybe you'll have a agro-based crypto like https://www.foodcoin.io/ or a retail-based one like https://nucleus.vision/

Endless possibilities, really.

xebecstyx

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Quote from: veraoktav127 on October 05, 2017, 05:08:26 AM

Quote from: Lyancy001 on October 02, 2017, 12:52:25 PM

I know it may not be possible right now, but do you think fiat will be gone in the future?

if it is lost entirely it is not possible, because in the interaction there must be an exchange process, so cash money will definitely be needed and will not disappear from the market but may not dominate again

I don't think so, honestly. Fiat has established it's place and role in the market for many years now, and people has relied on it too heavily to just throw it all away. Although we're in the time and era where using cash has radically decreased, it's still a major market player, for more people are still comfortable with using it. Therefore, instead of seeing fiat vanish, I would more foresee for fiat and crypto to interplay in the market.

Cpousersonu

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Quote from: Lyancy001 on October 02, 2017, 12:52:25 PM

I know it may not be possible right now, but do you think fiat will be gone in the future?

The Fiat currency exitance also is must important..
Because technology not reach yet up to rural or Suburban areas but in future maybe reached in remote place then the Fiat currency value reduce up to 80% value means uses in a daily life transactions but never end and regional altcoin transaction will be increase up to 80 percent

Kadal Ijo

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I'm sure that the future of the transaction system is with cryptocurrency, and I think the fiat system will be replaced. and this is the beginning of the changes of the era so we deserve to follow.

Andreas888

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Crypto tech is great because it offers you a way to secure transactions without a middleman, and it enables a degree of transparency that banks and governments haven't been able to match for some reason.

But as far as it becoming the currency de jure is concerned, I think that people will always find a way to centralize it, a la bitcoin, and makes it a lot like fiat in many ways. Someone's always going to find a way to hack the system. To answer your questions, I think blockchain will hit the mass market, and develop a fiat-crypto hybrid currency.

Abebittalk23

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Possibly something much more interesting may happen... Cryptos, like bitcoin, may become the new fiat currency... eventually. Japan has already adopted bitcoin I assume if it presents more advantages in the relam of trade, considering Japan is an export based economy, when compared to the yen then Japan could one day drop the yen altogether. Perhaps bitcoin could become the new backing for the yen giving the yen value due to some form of representation of bitcoin. Think of fiat currency deriving value from bitcoin itself.

DoublerHunter

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Digital currencies are here because they their own feature and own reason to exist and not to replace the fiat. The fiat are here because they are for making transaction like for payment and buying things using it and there is no possibility for the digital currencies to replace fiat because the government will not allow that because they will not allow the decentralized currencies to have a dominance in the world.

alexsandria

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Quote from: Lyancy001 on October 02, 2017, 12:52:25 PM

I know it may not be possible right now, but do you think fiat will be gone in the future?

Fiat Money may be considered as "Digital Money" it is half consodered. Maybe it could replace Fiat Money, it would not be impossible because the demand of bitcoin user are still rising on its volatile value.

coiner495

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It's never going to replace fiat currencies, but I have no doubt they will somehow complement them in many countries. But these CryptoJPY etc will be possible if only it helps central banks with anti money laundering, collecting taxes and stuff like that.

mammoniter

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Quote from: joseafonso123az on October 05, 2017, 06:52:09 AM

Well I think they can't replace fiat, because fiat exists physically, and as of now, it's more used than BTC. Woner if you don't have energy for a whole week, you wouldnt be able to use your money in crypto, but in fiat you could. Digital currencies are becoming a trend, especially BTC, so I expect to see the usage of BTC increase, but not totally replacing fiat!

I think so too, though I do not hope that bitcoin will replace fiat completely because I think bitcoin would not benefit that much to replacing other currencies. We all love bitcoin the way it is and I don't want it to change so much which will make its already unstable state more unstable.

websoftwareengineer

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No its not possible, Fiat is generated by government it will continuously increase the pieces but not the value. Fiat will be always useful more than bitcoins because not everyone is capable of earning this coins and still the world currency is fiat.

CrytopiaRaRa

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i think it will be possible because now a days bitcoin becomes so powerful,
and it increasing in value,
But if that happen a lot of process,because not all of the country accepting bitcoin

sheldonnnn

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I think that fiat will always exist. Digital currencies can not replace it. But fiat will not be so popular anymore. People will use it less, I think. The digital currency is rapidly spreading and becoming more popular. This is the money of our future.

Rajatruck

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I think just like you, the market is big enough to have place for both.

SparrowMano

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I think especially that the two types of currencies can cohabit together.

Loopper

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Quote from: ?? on ??

I think cryptocurrencies will replace traditional currencies but digital currencies will need 5 years or more to do this.

I think it's a hard thing to do and solve, are you sure it only takes 5 more years

ezekhiele

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" As long as you love me"

Yes, because it is already use in other countries. Some of the people there are using digital money instead of fiat. In my country which is Philippines, it takes so many years or decades before the fiat replace to digital money because in terms of modern technology we are left behind. Then, filipinos are use to, use fiat.

intoy_victor

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Digital? It is possible but when? We dont know if goverment approved it. It can cause of economic problem.

But for me it could be much better. For the better future as will.

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