Topic: ECONOMIC ANALYSIS/RESEARCH POLL: Cryptocurrency replacing fiat in the future? - page 4. (Read 1659 times)
November 04, 2018, 10:42:11 AM
I don't think that the government will use cryptocurrencies as cryptocurrencies challenge the centralized aspect of the fiat money system. Most major countries have stable governments and a stable economy, which means that the fiat can be trusted to some extent. The government still need to enact monetary policy; they are incentivized to print money to keep a steady inflation to promote spending and adjust interest rates to promote saving money or borrowing money depending on how strong the economy is doing. To create trustless cryptocurrency, the government has to give up these power that are essential to managing the modern economies. I only think that unstable governments will use cryptocurrencies to introduce a stable medium of exchange and gain back trust.
November 04, 2018, 10:41:09 AM
Maybe cryptocurrencies and fiat currencies may both work parallel in the future. This means that we are able to use digital currencies in many ways, with no limits. Use it to buy everything, to pay for services and many more. Looking forward for more benefits that this crypto industry can give us.
November 04, 2018, 10:33:10 AM
I struggle to see any such scenario in which cryptocurrency will replace fiat, there isn't much need for it to happen, at least for the average person. For those people who choose not to hold fiat they should in time be able to use cryptocurrency in every way that they wish alongside fiat. There are undoubted benefits of blockchain technology and it's implementation is inevitable, I do however feel that most of the emphasis will be put towards businesses instead of governments, they'll adopt blockchain technology but in a way which is compatible with fiat.
We have the sayings "the struggle you are in today is the developing strenght that you need for tomorrow." It means the struggle is always at the beginning but it will not take for long if you know you are already in a challenge to do it well. The blockchain is in demand for sure it will be easy to claim the success in life. November 04, 2018, 10:02:25 AM
Nope. Fiat is separate from the people using it.
Cryptocurrency is a new fad. At its best it is a mechanism to allow the transfer of wealth, but it has become confused with the wealth itself. Until such time the ease of using them is the same as using real money, it won’t really be the same.
Cryptocurrency is a new fad. At its best it is a mechanism to allow the transfer of wealth, but it has become confused with the wealth itself. Until such time the ease of using them is the same as using real money, it won’t really be the same.
November 04, 2018, 09:39:54 AM
yes, I believe that cryptocurrencies will replace fiat in the future, we are no longer using fiat because crypto payment is the easiest way to pay just scan your phone and that's it. As you can see in China they are on nearly cashless society just try to watch youtube.
November 04, 2018, 09:30:27 AM
This particular question has already been asked many times before and is a very popular question with no definitive answer. The best answer in my opinion is that cryptocurrencies will never fully replace FIAT in any manner whatsoever.
However, the crypto market will coexist along with FIAT like it has from a long time and more and more people will begin using it once the volatility levels of this market continue to go down helping it go mainstream.
However, the crypto market will coexist along with FIAT like it has from a long time and more and more people will begin using it once the volatility levels of this market continue to go down helping it go mainstream.
November 04, 2018, 09:24:22 AM
Yes, cryptocurrencies will replace fiat
I believe that all payments will be on bitcoin and cryptocurrencies in the future. We can see the change of the new generation.
I believe that all payments will be on bitcoin and cryptocurrencies in the future. We can see the change of the new generation.
November 04, 2018, 09:22:00 AM
I think it is possible to use both cryptocurrencies and euro (or other fiat) and it will be a big victory.
That cryptocurrencies would be used for 100% even with a positive attitude of the States themselves, full support of people is also necessary, and this is possible only after generations.
That cryptocurrencies would be used for 100% even with a positive attitude of the States themselves, full support of people is also necessary, and this is possible only after generations.
November 04, 2018, 09:16:20 AM
No, impossible, economics only work with monetary policies...First of all I think that there is no need for such a thing for Governments,they already have the systems by which they make a special agencies under their control and by which policy makers do economic principles,also the majority of cryptocurrencies don't have an economic characteristics which may not be a big deal for them.So I think governments willn't use cryptos but more importantly they already have in use the idea of blockchain and the whole system as a secure mechanism for institutional information.One more reason is that its easier for elder people to use money to buy something or collect...
November 04, 2018, 09:00:09 AM
I voted for "Governments will only use blockchain technology to support certain processes within their current system" but survey is lacking option of selecting multiple option. Let my analyze every option and put my thinking.
Yes, cryptocurrencies will replace fiat - No, Very difficult for any government to give their centralized system (in which they have 100% control ) to
decentralized one. It can gain popularity where the original currency of countries got devalued and instead embracing other country currencies, they can embrace bitcoin.
No, impossible, economics only work with monetary policies : I consider bitcoin as money only so creating policy will not be difficult but who will be creating policies?
Both will work in parallel : Both are still working in parallel and will continue in future too.
Governments will distribute their own decentralized blockchain currency: I do not think government will like the idea of decentralization when it come to currency.
Governments will distribute their own centralized blockchain currency along with monetary policies: Not sure, if they leave their own established current system and start a new system for same purpose.
Governments will only use blockchain technology to support certain processes within their current system: It is happening and I believe it will be
continued.
Yes, cryptocurrencies will replace fiat - No, Very difficult for any government to give their centralized system (in which they have 100% control ) to
decentralized one. It can gain popularity where the original currency of countries got devalued and instead embracing other country currencies, they can embrace bitcoin.
No, impossible, economics only work with monetary policies : I consider bitcoin as money only so creating policy will not be difficult but who will be creating policies?
Both will work in parallel : Both are still working in parallel and will continue in future too.
Governments will distribute their own decentralized blockchain currency: I do not think government will like the idea of decentralization when it come to currency.
Governments will distribute their own centralized blockchain currency along with monetary policies: Not sure, if they leave their own established current system and start a new system for same purpose.
Governments will only use blockchain technology to support certain processes within their current system: It is happening and I believe it will be
continued.
November 04, 2018, 08:59:48 AM
Governments will distribute their own centralized blockchain currency along with monetary policies - the governments will always have to get a cut or else they will just ban crypto African countries are far behind and African governments very greedy
November 04, 2018, 08:51:02 AM
i choose "Both will work in parallel" as there as many people whom does not trust online and things they do not know the fear of the unknow will keep them from switching to crypto|my opinion
November 04, 2018, 08:46:48 AM
I voted: Both will work in parallel.
This is my point, I believe crypto will be a huge thing in the future but since the population of the planet will be older and older with the time for the improvement of the quality of the life and this technology is not for old people (with private keys storage), I can't see how old people can use a wallet over FIAT.
So I think in the future (20 years from now) we will have a solid crypto market where new generation will use the technology and old people will use only "touchable" money.
This is my point, I believe crypto will be a huge thing in the future but since the population of the planet will be older and older with the time for the improvement of the quality of the life and this technology is not for old people (with private keys storage), I can't see how old people can use a wallet over FIAT.
So I think in the future (20 years from now) we will have a solid crypto market where new generation will use the technology and old people will use only "touchable" money.
November 04, 2018, 08:34:43 AM
Hello,
as part of an ongoing academic research, I have created a public survey to see how members in the crypto-community think about the future impacts of decentralized blockchain cryptocurrencies. I kindly ask you to vote on the poll in order to assist me in this research. Feel free to add a comment on why you think your chosen option is correct
Thank you very much in advance and have a wonderful day!
Kind regards,
Zeroxal
Fiat will be replaced by gold. We will back to use gold again because many people are realize that save fiat will not give profitability even reduce their prosperity. Here in the forum we are more educated to understand what happen in this world in term of economy. Many people here share their knowledge to each other. Bitcoin it self can't influence world economy system. It only grow on it's line, and I am sure that it is keep become more famous and has very good future. as part of an ongoing academic research, I have created a public survey to see how members in the crypto-community think about the future impacts of decentralized blockchain cryptocurrencies. I kindly ask you to vote on the poll in order to assist me in this research. Feel free to add a comment on why you think your chosen option is correct
Thank you very much in advance and have a wonderful day!
Kind regards,
Zeroxal
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November 04, 2018, 08:29:55 AM
I am choosing and voted as "cryptocurrency replacing fiat in the future" Because In modern globe people also be modern. They want to transfer their money instanly. And for transferring instanly Crypto is the solution I think.For that I choosed that. Thanks for your servay.
November 04, 2018, 08:12:20 AM
I think that governments will defiantly not allow cryptocurrency as they exist no to be used or replace the current fiat system that they have, and that is mainly due to the fact that they have no control over them, people may use them for the wrong reasons like money laundering for example and it would be hard for them to track them down, and for that if cryptocurrency were to be used in some form to replace the current fiat governments were to create their own digital currencies that they would have control over them and they can monitor them.
November 04, 2018, 07:59:24 AM
I voted for the option that they will both be used in parallel. I voted this way because first and foremost, Bitcoin and cryptocurrency in general are here to stay. That's definitely happening. But because the current way Bitcoin is obtained and transacted, it is too difficult for the average person to use on a day to day basis. The masses won't adopt Bitcoin. Not gonna happen unless there are no fees involved in transacting with Bitcoin, the way BTC is obtained gets way easier, ie. no KYC/AML and that's not gonna happen anytime soon and lastly how long transactions take to confirm or post to signal completion of said transaction. There are a slue of other reasons why your average person will not accept transacting with BTC over fiat for their average everyday lives. BTC is nowhere near ready to even begin to talk about it taking over fiat currency for the average everyday user. To even consider that it is, is just flat out wrong. It may never be ready. There will be digital cash for years to come, but how will it look in the future is up to the needs of the market(s) it serves.
November 04, 2018, 07:59:23 AM
I do not believe that Cryptocurrency could ever replace fiat currency simply because fiat has been around forever and switching to Cryptocurrency would require all people to have access to the internet and to learn/understand about an entirely different form of currency that most people I do not believe would even take the time to learn about. If fiat disappeared everyone would need access to the internet 24/7 as well as access to a safe place for people to make transactions where they will not be more susceptible to scams/fraud. I just do not believe that anything that is internet based could ever come close to fiat currency. Also most Cryptocurrency has a max amount that will be mined/distributed and once that is reached... Everyone has a nice siesta.. or?
November 04, 2018, 07:59:05 AM
Yes, I believe it will replace the normal currency, the more people who understands and the more people realize how much banks are stealing from us the better for digital currencies.
November 04, 2018, 07:51:03 AM
I choose 'Governments will distribute their own centralized blockchain currency along with monetary policies' because I have seen that government becomes unconformable that their is some thing new related to currencies or money which is not fully in their control. They would like to take advantage of this technology but also would like to make sure that everything is under their control and can be easily tracked as and when require and works according to their plan. If that does not happen government would not like to probably introduce or may be restrict it.
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