I've voted that crypto will replace fiat, but I'm sure that there will be an evolution that might pass through some other options of vote, like both working in parallel (that is already happening), "Governments will distribute their own centralized blockchain currency along with monetary policies" might also happen but in the end the decentralized and accessible nature of crypto will eventually overcome this issue... the question remains about how long will it take for crypto to replace fiat completely...
Just think about everything else besides money... isn't it changing and becoming different and digital? our TV? our phone? our computer? etc....
I can't believe that so many people are in the crypto world and don't believe that crypto can replace fiat money... crypto is money! and money is also evolving from paper printed bills to digital numbers... crypto will be the only long term solution for money...
And general people, that will have trouble with it.... these people will use what the TV tells them to use...
(not long ago, humans used salt as money... don't you think it was also hard to change to gold?)
cheers
Topic: ECONOMIC ANALYSIS/RESEARCH POLL: Cryptocurrency replacing fiat in the future? - page 3. (Read 1659 times)
November 04, 2018, 02:09:12 PM
November 04, 2018, 02:03:41 PM
I voted for they will work in parallel, I personally don't think cryptocurrencies will replace fiat completely in the near future, But saying that cryptocurrencies certainly have every potential that is needed to fully replace fiat currencies.
I simply don't think government would let that happen and make more and more restrictions to prevent cryptocurrencies from being more popular, Also there are many people that are too lazy or simply don't like changes so there's that too.
I simply don't think government would let that happen and make more and more restrictions to prevent cryptocurrencies from being more popular, Also there are many people that are too lazy or simply don't like changes so there's that too.
November 04, 2018, 01:56:32 PM
Fiat and cryptocurrency will join force togeher in the future to serve the people of the entire universe,as they both needed to support the financial works of the world.cryptocurrency will work via internet while fiat will support the offline transactions
November 04, 2018, 01:54:58 PM
People will figure it out...
https://en.wikipedia.org/wiki/Fiat_money
https://en.wikipedia.org/wiki/Fiat_money
Quote
Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.
November 04, 2018, 01:52:16 PM
There is no chance for that, both are different. So crypto will never replace fiat. Still there are some people without knowing what's crypto means for them fiat is the only currency they used. Both are essential for countries growth and at the same both are different. So in future bitcoin and fiat both are used by people.
November 04, 2018, 01:52:09 PM
Because of the volatility, cryptocyrreny will never be the only currency because there will be two types of people. One will be willing to accept cryptocurrency, other will ignore it because of its volatility and that's why I think fiat and cryptocurrency both will be continued.
November 04, 2018, 01:51:08 PM
I voted for both work in parallel as I think there should be a good and healthy mix of both.
A hybrid, so to speak, that uses the advantages of both.
Governments never want to give up their power, but humanity realises how much they are restricted by fiat currencies.
Therefore, I think there will be a Central Monitoring, but it will be very easy.
We just have to consider what advantage governments could gain from crypto currencies:
- More trust through mathematics and cryptography.
- A consensus that is irreversible.
- and, last but not least, perhaps the greatest strength is transparency. Thus every citizen can be tracked easily and governments can see when and where someone spends something.
on the other hand, cryptocurrencies are still new territory for many people and higher politicians. Therefore it will become a slow process and both will coexist for a longer time.
A hybrid, so to speak, that uses the advantages of both.
Governments never want to give up their power, but humanity realises how much they are restricted by fiat currencies.
Therefore, I think there will be a Central Monitoring, but it will be very easy.
We just have to consider what advantage governments could gain from crypto currencies:
- More trust through mathematics and cryptography.
- A consensus that is irreversible.
- and, last but not least, perhaps the greatest strength is transparency. Thus every citizen can be tracked easily and governments can see when and where someone spends something.
on the other hand, cryptocurrencies are still new territory for many people and higher politicians. Therefore it will become a slow process and both will coexist for a longer time.
November 04, 2018, 01:38:07 PM
Voted for the parallel as it seems that still their are underprivileged people who still does not get the basic needs in many countries so it is not possible to replace fiat against the crypto currency. Country would like to maximize the use of crypto as much as possible but still fiat would be used by many people as well.
November 04, 2018, 01:35:10 PM
Cryptocurrency will replace fiat in future. People do not need to carry money so that it reduces crime and then the ease of transacting using crypto currency is one of its advantages. Because in the future people will only need something simpler than the complicated one.
November 04, 2018, 01:27:09 PM
No doubt governments will have to create their own centralized blockchain digital currency to support technology if they fail to depart crypto from economy.
November 04, 2018, 01:26:58 PM
I think it will be both. Traditional currency might be replaced sometime but not just today. Maybe in a couple of decades now? If cryptocurrencies still exist, that is. The possibility exists. But that doesn't mean that it will be replaced. Just possible. The currency of today is much more stable than cryptocurrency. I think that cryptos are much more suitable for investment purposes than being used as a commodity.
November 04, 2018, 01:14:55 PM
No, impossible, economics only work with monetary policies because after all, it has got a difficult place to be replaced by crypto currency. People trust the euro more than cryptocurrency.
November 04, 2018, 12:33:03 PM
Yes, cryptocurrencies will replace fiat because in the future money is not used anymore, but like crypto currency will be used because it is easy to use compared to money. And it will support the increasingly famous crypto world.
November 04, 2018, 12:31:26 PM
Infact both the crypto currency and fiat will work parrellel if governments couldn't control over bitcoin.
They will have to follow the truth of blockchain technology however they might impose some restrictions and terms on it.
They will have to follow the truth of blockchain technology however they might impose some restrictions and terms on it.
November 04, 2018, 12:17:47 PM
I have voted option first because i think governments have to accept crypto currency as people are mostly in demand of it rather than fiat and of course it shall happen in near future
November 04, 2018, 11:45:28 AM
For me, I think both fiat and crypto would work in parallel. We do understand that fiat is still mostly used right now, and less than 1% of us in the world are adopting crypto. Some say that crypto will replace fiat in 10 years or more.
To be honest, I don't think they will fully replace fiat. Both are very useful for me. In case I forgot my wallet and I have my mobile phone that has a crypto wallet, I can still buy and receive stuff for those who have accepted crypto as payment method. However, if my mobile phone has no connection or in low battery, fiat is still a very good choice for goods and services.
Both can work in parallel, so expect that the world would say goodbye to fiat forever.
To be honest, I don't think they will fully replace fiat. Both are very useful for me. In case I forgot my wallet and I have my mobile phone that has a crypto wallet, I can still buy and receive stuff for those who have accepted crypto as payment method. However, if my mobile phone has no connection or in low battery, fiat is still a very good choice for goods and services.
Both can work in parallel, so expect that the world would say goodbye to fiat forever.
November 04, 2018, 11:26:20 AM
I voted both will work in parallel because not all people who like to use cryptocurrency some people like to use fiat instead, so both will work in the future.
November 04, 2018, 11:20:05 AM
The replacement of a transaction system is always based on several things that make every human being look for a new system that is more equitable and liked by many people. Everyone could see the barter system was replaced by money fiat, the barter system was felt by everyone to be unfair and had many shortcomings such as everyone had to look for people who wanted to exchange for the items they wanted each other, then money came as a transaction system that could make it easier everyone to own the items he wants. If you now see cryptocurrency when everyone is still comfortable using money fiat, I guess it takes a long time to make that happen. In addition, humans have not found a deficiency in money fiat. Most likely cryptocurrency is used simultaneously with money fiat without being replaced.
November 04, 2018, 10:59:16 AM
It will be interesting to see how the battle of centralized vs decentralized currencies plays out in the long run. So far decentralized currencies are still in their infancy.
November 04, 2018, 10:54:56 AM
I believe they will work in parallel, since Governments need to excersize control, they will never issue a 'decentralized' digital currency, however I am quite sure they will start to issue 'Government backed' digital currencies (backed by your faith in the Govt).
There will always be a need for a decentralized 'money of the people' and Bitcoin fills that description quite perfectly!
There will always be a need for a decentralized 'money of the people' and Bitcoin fills that description quite perfectly!
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