Topic: ECONOMIC ANALYSIS/RESEARCH POLL: Cryptocurrency replacing fiat in the future? - page 2. (Read 1659 times)
November 05, 2018, 06:20:32 AM
This is due to the strength of people in change, and I believe that the government is the strongest so you will create a special coin in order to benefit from the new technology and be controlled.
November 05, 2018, 05:29:52 AM
It might take some time, but I expect crypto-currencies to overhaul FIAT in the long run. It might not be crypto as we know them now, however, cash is already becoming obsolete even if it is the most widely used. With more computer literacy, it will die out.
November 05, 2018, 05:04:41 AM
I'd based my answer in the current situations, I choose "NO". Why? It is indeed that the modern or the advancing of technology is literally booming, in which these cryptos are part of it, unlike fiats which are currently accepted worldwide, cryptos are still a niche part of the global economy, in which a Government cannot totally regulate the use of it, like the Fiats.
Though, In a parallel world, both can function the same way, nonetheless both have it's own advantages and disadvantages. But still, It cannot replace the Fiat and it's system.
Though, In a parallel world, both can function the same way, nonetheless both have it's own advantages and disadvantages. But still, It cannot replace the Fiat and it's system.
November 05, 2018, 04:47:39 AM
Their is a processing period before the adoptation but let us think it in a positive way. I believe the time will come, fiat will be replaced by the crytocurrency in the future. Beacause, the cryptocurrency has spread throughout the world so fast and many have already using and patronizing it.
November 05, 2018, 02:56:48 AM
I mean let's not kid ourselves. We can't replace fiat currency in our lifetime or even our children's lifetime no matter how much advantageous crypto currency could be. In an ideal world, everyone will be on crypto and wouod exchange thusly but it is not, everyone has ulterior motives and would not want to relinquish control.
November 05, 2018, 01:42:39 AM
Chose: Governments will only use blockchain technology to support certain processes within their current system
Eventually they will adapt tax and control what they can. I think China will also do this first, forcing others to react
Eventually they will adapt tax and control what they can. I think China will also do this first, forcing others to react
November 05, 2018, 01:35:27 AM
As many other mentioned, I also believe fiat and cryptocurrency both will be existed. Cryptocurrency will be used for some specific purpose while fiat may be used in some physical shops. Will you wait for a confirmation of $100 of BTC for 30 minutes after having a coffee. I don't think so.
November 05, 2018, 12:55:59 AM
Whatever happened, govt will never stop monitoring us. So, I think, govt will start decentralized currency of their own once fiat get some huge threats by cryptocurrency. Also, fiat will be still there because of the volatile characteristics of crypto.
November 05, 2018, 12:48:51 AM
I think cryptocurrencies will be the only currency within next 10 years. The only reason behind it will be the transparency behind it. We don't need to depend others. Another reason can be the scalibility.
November 05, 2018, 12:03:37 AM
For me, any decentralized cryptocurrency like bitcoin will never replace a centralized currency like euro because I believe that policy should be abide. No matter how technology had grown now, still I'd stick to usual way. And cryptocurrency should only be use in online transactions. So they can work on their own fields.
November 04, 2018, 11:20:04 PM
I think Both will work in parallel
November 04, 2018, 09:15:47 PM
I think both will use in the future, what if you lost your mobile phone or accidentally broken? how can you pay? of course you use fiat, I think both is important the cryptos and the fiat so we had a second option to use or to pay.
November 04, 2018, 09:00:05 PM
Governments will only use blockchain technology to support certain processes within their current system
I had a feeling that cryptocurrency will not replace fiat as of this time due to different issues.
Blockchain technology can be use by government to support certain processes as it is fast and transparent which i think can speed transactions and prevent corruption.
I had a feeling that cryptocurrency will not replace fiat as of this time due to different issues.
Blockchain technology can be use by government to support certain processes as it is fast and transparent which i think can speed transactions and prevent corruption.
November 04, 2018, 07:47:44 PM
They both works in parallel, because these two are also dependant to each other. They can co-exist with each other and that makes them more important to each other. All it needs is to people to accept cryptocurrency as part of any transaction payments and also as a currency in both digital and real world.
November 04, 2018, 05:44:03 PM
I think it's possible that cryptocurrencies will replace fiat in the future but there is a very slight chance of that happening. Cryptocurrencies cannot replace fiat alone, I mean someone has to take action since I am pretty sure governments are not going to do it. People just don't see cryptocurrencies as fiat, probably because fiat is used since they were born. And that's why the answer is they will both work in parallel
November 04, 2018, 05:36:51 PM
There will be more adoption of cryptocurrency in the future no doubt but it won't totally replace fiat. Government is saddle with the responsibility of formulating both the fiscal and monetary policies in a country. With cryptocurrency, that responsibility and by extension power is becoming decentralised. As beautiful as it sounds, government will always be around and would never support losing its authority.
November 04, 2018, 04:32:34 PM
I think that governments will use their own cryptocurrency and only in those areas in which it will be beneficial to the state.
November 04, 2018, 04:03:43 PM
Only time will tell, but I think that both will be in place for a while, like it is now.
November 04, 2018, 04:02:23 PM
Crypto will not replace Fiat, there is just not enough exposure. Yes crypto is more secure but the average person will not use it on a day to day life, at least in my eyes
November 04, 2018, 02:48:15 PM
Both fiat and cryptocurrency are going to work in parallel because I believe that bitcoin and blockchain technology is too good to be abandoned and since governments and financial institutions see that bitcoin bring freedom to our society they might not want to completely used it.
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