Topic: ECONOMIC ANALYSIS/RESEARCH POLL: Cryptocurrency replacing fiat in the future? - page 7. (Read 1659 times)
November 03, 2018, 06:54:46 PM
Because in the future, money is not needed, even money will disappear and be replaced by some payment instruments such as credit or debit cards. People will do simple things in the future, in my opinion.
November 03, 2018, 06:36:04 PM
Personally I see bitcoin working in with fiat right now. I doubt it's going to replace fiat currency because the currency has/been usually stable for the past years.
I also don't see bitcoin replacing fiat anytime soon because of people not knowing how to use bitcoin. Most people can't even sign a message from their bitcoin wallets.
Just like gold/silver, bitcoin is just like a safe storage in case anything bad happens to the real world markets, IMO.
I also don't see bitcoin replacing fiat anytime soon because of people not knowing how to use bitcoin. Most people can't even sign a message from their bitcoin wallets.
Just like gold/silver, bitcoin is just like a safe storage in case anything bad happens to the real world markets, IMO.
November 03, 2018, 06:35:19 PM
I don't see a cryptocurrency ever replacing any serious country's main currency since the government will then have no way to create the same type of macro-economic incentives for companies, individuals (taxes) etc. to operate in a way that makes sense for the country as a whole. It'll be nice for the rich, but the poor and middleclass might get screwed over.
I am sure digital currencies will operate in parallel though.
I am sure digital currencies will operate in parallel though.
November 03, 2018, 06:31:19 PM
I personally picked that governments will distribute their own decentralized cryptocurrency as a philosophical thought and hope on what could happen because i'm certain governments will play an important role in that in the future of course.
From my point of view it will be either that one or Governments using a centralized Cryptocurrency with all the other regulations to make it look more like the actual monetary system.
Future will tell. But something is for sure, virtual money will rule the future world.
From my point of view it will be either that one or Governments using a centralized Cryptocurrency with all the other regulations to make it look more like the actual monetary system.
Future will tell. But something is for sure, virtual money will rule the future world.
November 03, 2018, 06:21:28 PM
I voted Yes it will replace cryptocurrencies, as a direct answer for the question in the pool, but this isn't for short or medium term to be realised. It's a long running journey for cryptocurrencies to cut definetly with FIAT. According to some economics, one btc should be valued to 100.000.000$ in order to only replace the circulating dollars in the international market; let's just think about how will it also replace other currencies. Cryptocurrencies and FIAT will cohexist for a long time, but no chance for FIAT to compete with technology and advancement.
November 03, 2018, 06:14:46 PM
I can't vote on poll but i choose "Both will work in parallel", but not in all countries in next 10 years. Governments will adopt blockchain technology but not i think will create their own coins, and the most governments will put a fee on bitcoin and other cryptocoins to make money also from there. But in 15-20 years i think cryptocoins will replace fiat, i also read a news about a country that no use more fiat, only cards now.
November 03, 2018, 05:59:07 PM
i choose " No, impossible, economics only work with monetary policies '' because i dont think that crypto's can replace fiats in the future . for me , i think the main purpose on why crypto's are invented is to work as online ( only ) , so that we people can have an ease of access and also to experience a decentralized and anoymous feature .
November 03, 2018, 04:56:37 PM
I can see that my choice is the most popular one (Both will work in parallel).
Now for the explanation. As we all know governments derive their power from the ability to control society. We can't abolish the government, even with a majority of votes. It will use lethal force to stop us and it will certainly use its power over the currency to scare us into submission. It will never give away the power and it will never abandon fiat. It will modify it to support digital transactions if needed, but it will still remain centralized.
The majority of people don't want to be bothered with economics. They are given fiat, they spend fiat. If they were given cryptocurrency at work, they would have use it, but how many employees would go full crypto? Not many, just like not many allow employees to work from home (remotely), even if their job can be done at home as efficiently as it is at their workplace.
Cryptocurrencies will survive, but as an alternative. A store of value, the money of the Internet, chosen by the hackers, millionaires, and speculators. It's how I see it.
Now for the explanation. As we all know governments derive their power from the ability to control society. We can't abolish the government, even with a majority of votes. It will use lethal force to stop us and it will certainly use its power over the currency to scare us into submission. It will never give away the power and it will never abandon fiat. It will modify it to support digital transactions if needed, but it will still remain centralized.
The majority of people don't want to be bothered with economics. They are given fiat, they spend fiat. If they were given cryptocurrency at work, they would have use it, but how many employees would go full crypto? Not many, just like not many allow employees to work from home (remotely), even if their job can be done at home as efficiently as it is at their workplace.
Cryptocurrencies will survive, but as an alternative. A store of value, the money of the Internet, chosen by the hackers, millionaires, and speculators. It's how I see it.
November 03, 2018, 04:49:44 PM
For now, only few national government allowed cryptocurrency on some other transactions for cashless payment. But seems cryptocurrency can't totally replace a fiat money but can make a less physical fiat on payment transactions. And both cryptocurrency and fiat can work parallel to each other.
In my other opinion,
if government really allowed cryptocurrency as well as payment for taxes & other payment transactions, this could be a big help to prevent corruption because nobody controls blockchain to manipulate the data transactions & payments.
In my other opinion,
if government really allowed cryptocurrency as well as payment for taxes & other payment transactions, this could be a big help to prevent corruption because nobody controls blockchain to manipulate the data transactions & payments.
November 03, 2018, 04:36:26 PM
Later some government will try and implement a decentralized system in parallel with their own centralized system and see its workability so as to compare and contrast it and ascertain how its going to affect their monetary policies.
November 03, 2018, 04:29:39 PM
I think governments will create their own centralized digital money that they can manage as they wish. The government doesn't need the money to make it more vulnerable. Money is a power and they don't like it to be in others.
November 03, 2018, 04:20:16 PM
I do not think Bitcoin will easily occupy the currency of the current currency, it is very time consuming, but the future of crypokorcanees is not bad.
November 03, 2018, 04:15:55 PM
With most people in the government seems corrupt they may consider to use blockchain technology but in a limited way at their own advantage just to make it look like their fulfilling the needs and wants of their people.
November 03, 2018, 04:03:26 PM
Yes, cryptocurrencies will replace fiat. Cryptocurrencies has been the talk of most people and some were just hearing it and yet to involved but once everyone got a knowledge about cryptocurrencies then maybe government will look into it and may decide to use it as a way of payments or make it officially a currency.
November 03, 2018, 03:46:53 PM
In order to track transactions the government will adopt a centralize blockchain currency for her citizens. There is a trend that's about to start with the power of blockchain technology from the government which will enable a centralize blockchain currency to adopt and accept by the citizens alongside with monetary policies. This action by the government will enable them have control over the centralize blockchain in order to monitor the users transactions. Both cryptocurrency and fiat will operate parallel to each other.
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November 03, 2018, 11:41:11 AM
The option "Governments will distribute their own decentralized blockchain cryptocurrency" is kinda wrong.
Decentralized means no control from the creators and developers.The control is maintained only by the majority.No government will create such currency.Perhars you should remove that option from your poll.
There's no reason for the OP to remove the government to distribute their own centralized blockchain currency poll because it a case which have been talk about by the government of Malta, Marshall Insland, Venezuela, Greece etc. However, crypto is a big competitor to the national currency and the government power and there's possibility that the government will issue their coins in the future.Decentralized means no control from the creators and developers.The control is maintained only by the majority.No government will create such currency.Perhars you should remove that option from your poll.
Voted crypto to replace fiat.
November 03, 2018, 09:05:49 AM
Bump
November 03, 2018, 09:12:28 AM
The option "Governments will distribute their own decentralized blockchain cryptocurrency" is kinda wrong.
Decentralized means no control from the creators and developers.The control is maintained only by the majority.No government will create such currency.Perhars you should remove that option from your poll.
Decentralized means no control from the creators and developers.The control is maintained only by the majority.No government will create such currency.Perhars you should remove that option from your poll.
November 02, 2018, 09:09:59 PM
I want to be very realistic. It is obvious that cryptocurrencies are making great impact in the world today, but I don't believe it will replace fiat currency. Security is the greatest factor that will make this replacement very unlikely. Except the government create it's own cryptocurrency which might not be decentralized. So until then, both crypto and fiat will be working together.
November 02, 2018, 08:52:00 PM
The most likely scenario is that cryptocurrencies will be niche currencies for people who need privacy and freedom, and they will be used by 5-15% of the population. Even then, barely anyone will be living 100% on crypto, and majority of the people will just stick with fiat, because they won't see any reason to use crypto. Average citizens don't think that inflation is horrible unless they live under hyperinflation, they don't think that central banks are bad, they don't care about their privacy and so on.
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