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Topic: harmonization of fiat and crypto (Read 23007 times)
Never say never. Let's not forget one thing - there is nothing infinite in the world. The state and social foundations that exist now can be completely reformatted and changed within one decade.
We do not know what the world will be like in 10 years, everything will depend on technology.
If we move into a fully digital era, then there will be no point in fiat means, they will also try to go into a fully digital environment, but during this transition there may be problems that simply destroy the fiat in the form in which we know it.
I really hope this is not going to happen. For me it's all about the control of the government. Crypto currencies were designed to be independent from governments. A digital FIAT currency will still be at the mercy of it's central bank. It's up to the politician of how much new money is being issued every month. With cryptos it's a fixed process and every investors knows before hand. I would appreciate if not a few people can decide the faith of so many.
Although I have always held the view that crypto will erase fiat completely, this post has opened my eyes to see the possibility of the harmonization of fiat and crypto.
Now I realize that it is very difficult for existing system of fiat money to be made away with completely by crypto judging by the fact that fist is what they have come to trust over the years. If there's a way crypto can be harmonized with fiat, it will aid the adoption of crypto as they'll get to know of the numerous advantages of crypto.
I however think this will take time to be and there'll be need for certain measures to be put in place to accommodate this
Now I realize that it is very difficult for existing system of fiat money to be made away with completely by crypto judging by the fact that fist is what they have come to trust over the years. If there's a way crypto can be harmonized with fiat, it will aid the adoption of crypto as they'll get to know of the numerous advantages of crypto.
I however think this will take time to be and there'll be need for certain measures to be put in place to accommodate this
Crypto can never be accepted or replace with fiat, Since its decentralized and untraceable.
It will become a big trouble for banks and the government.
Bitcoin users can not pay tax which affects our economy and society. fiat and cryptos are two different things in our society.
I have read several threads that say "fiat will die and will be replaced with crypto" as you agree? I personally do not agree. because when the real system is already established in value and a new system comes with a fluctuating value, the government will not take that risk. But do you agree if Fiat collaborates with crypto in building a future financial system? without killing one system. share your opinion about this.
Of course, cryptocurrency can never replace the traditional national money of states. State governments will not allow this. And cryptocurrency by its nature is not capable of this. Stable coins can partially displace fiat, but state cash should remain. Even highly developed states with a high level of income of citizens who want to get rid of paper money will still use their non-cash money.Never say never. Let's not forget one thing - there is nothing infinite in the world. The state and social foundations that exist now can be completely reformatted and changed within one decade.
We do not know what the world will be like in 10 years, everything will depend on technology.
If we move into a fully digital era, then there will be no point in fiat means, they will also try to go into a fully digital environment, but during this transition there may be problems that simply destroy the fiat in the form in which we know it.
Although I have always held the view that crypto will erase fiat completely, this post has opened my eyes to see the possibility of the harmonization of fiat and crypto.
Now I realize that it is very difficult for existing system of fiat money to be made away with completely by crypto judging by the fact that fist is what they have come to trust over the years. If there's a way crypto can be harmonized with fiat, it will aid the adoption of crypto as they'll get to know of the numerous advantages of crypto.
I however think this will take time to be and there'll be need for certain measures to be put in place to accommodate this
Now I realize that it is very difficult for existing system of fiat money to be made away with completely by crypto judging by the fact that fist is what they have come to trust over the years. If there's a way crypto can be harmonized with fiat, it will aid the adoption of crypto as they'll get to know of the numerous advantages of crypto.
I however think this will take time to be and there'll be need for certain measures to be put in place to accommodate this
Yes, in the future cryptocurrency will improve a lot but Fiat will never be able to replace it
It is not that cryptocurrency cannot be replaced by fiat because it is the other way around, crypto will never be able to replace fiat for fiat is engrave in our life, in our minds, imagine having to change the way you see money because of the characteristics crypto has, if we are just talking about convenience then digital fiat can do it but still in the field of digital cryptocurrency still have the edge over the fiat, some company might start a collaboration between fiat and crypto to maximize it's potential but i don't see it to boom in like 5 to 10 years, as long as government doesn't take actions about cryptocurrency then it is really hard to see a big progress to it. Crypto now is still dependent to fiat."death of the Fiat" means the death of the crypto
Exactly, how can people specifically newbies can buy cryptocurrency without having cryptocurrency in the first place? That is why its dependent to fiat. It will take some years to see a harmonazation between fiat and crypto but if it happens i'm sure it'll be a good one but now i think its hard to implement that thing for lots of people still don't have knowledge about crypto and it will be a hurdle to the progress of fiat-crypto collaboration. The point is not even in the formation of thinking/consciousness and other such things, but in the fact that the state money must be provided with something. Cryptocurrency does not really imply the presence of physical or valuable security for its issue - this is one time. And two - the implied decentralization of cryptocurrencies as such goes against the principles of control over the issue and turnover of funds.
There are too many subtleties and nuances, as well as quite global things that conceptually make it impossible to reach the stage when the cryptocurrency can be implemented as the base currency of the state.
Yes, in the future cryptocurrency will improve a lot but Fiat will never be able to replace it
It is not that cryptocurrency cannot be replaced by fiat because it is the other way around, crypto will never be able to replace fiat for fiat is engrave in our life, in our minds, imagine having to change the way you see money because of the characteristics crypto has, if we are just talking about convenience then digital fiat can do it but still in the field of digital cryptocurrency still have the edge over the fiat, some company might start a collaboration between fiat and crypto to maximize it's potential but i don't see it to boom in like 5 to 10 years, as long as government doesn't take actions about cryptocurrency then it is really hard to see a big progress to it. Crypto now is still dependent to fiat."death of the Fiat" means the death of the crypto
Exactly, how can people specifically newbies can buy cryptocurrency without having cryptocurrency in the first place? That is why its dependent to fiat. It will take some years to see a harmonazation between fiat and crypto but if it happens i'm sure it'll be a good one but now i think its hard to implement that thing for lots of people still don't have knowledge about crypto and it will be a hurdle to the progress of fiat-crypto collaboration.
Yes, in the future cryptocurrency will improve a lot but Fiat will never be able to replace it no one controls the cryptocurrency, everyone uses it as they wish, but Fiat is controlled by the government and has a relationship with the economy. The effects of the epidemic have caused digital currencies to plummet but crypto has no effect. Crypto Fiat will make it much easier to use cash there will be no problem with the cards.
I think fiat cannot be replaced with crypto and that's the reality.Right now we see that digital money is important because of the virus but time will come when it's over, everything will return to normal and we will use cash again. I agree if fiat collaborates with crypto for a better future in financial system, that's great.
There are news already about companies like visa and mastercard working on own crypto-fiat system, moreover kraken has started to work with several banks already - its happening So that's the point - that there is no way.
The problem is not even that it is impossible to get rid of Fiat money and not that they print a lot, but that the complete rejection of paper in the use of cryptocurrency is the same bike that has already been invented a thousand times.
What is the difference between printing Fiat money or printing more tokens? How do gov control the total turnover? How to deal with the financing of the terrorism? Money laundering and other financial security issues? Too many questions "how and why" and instead of answers only one: "crypto!!!".
I love crypto and see good potential in them, but I have no illusions about it.
Banknotes are still in its value because not whenever devices are connected to the network, cash is in some cases convenient.The problem is not even that it is impossible to get rid of Fiat money and not that they print a lot, but that the complete rejection of paper in the use of cryptocurrency is the same bike that has already been invented a thousand times.
What is the difference between printing Fiat money or printing more tokens? How do gov control the total turnover? How to deal with the financing of the terrorism? Money laundering and other financial security issues? Too many questions "how and why" and instead of answers only one: "crypto!!!".
I love crypto and see good potential in them, but I have no illusions about it.
I admit cryptocurrencies have too many advantages, making the world cleaner and saving hundreds of years.
But you should understand that that hasn't happened now, cryptocurrencies will be ubiquitous in the future once regulation and countries are full.
We use them decentralized to some degree, but what about governments? Will they create a centralized or decentralized chain? See how Binance works you will understand why.
World / state decentralized currency-unfortunately this is the same myth as Bigfoot.
To expect the most important overseer of money to reduce his control and authority in favor of the desires of ordinary people is a very big mistake. I think this can be implemented only if you either have nothing to lose, or if you build your country from scratch - then we can build the economy this way.In other cases, we can only wait for the introduction of blockchain in the FINTECH sphere, but not at the same level as everyone wants this crazy.
So that's the point - that there is no way.
The problem is not even that it is impossible to get rid of Fiat money and not that they print a lot, but that the complete rejection of paper in the use of cryptocurrency is the same bike that has already been invented a thousand times.
What is the difference between printing Fiat money or printing more tokens? How do gov control the total turnover? How to deal with the financing of the terrorism? Money laundering and other financial security issues? Too many questions "how and why" and instead of answers only one: "crypto!!!".
I love crypto and see good potential in them, but I have no illusions about it.
Banknotes are still in its value because not whenever devices are connected to the network, cash is in some cases convenient.The problem is not even that it is impossible to get rid of Fiat money and not that they print a lot, but that the complete rejection of paper in the use of cryptocurrency is the same bike that has already been invented a thousand times.
What is the difference between printing Fiat money or printing more tokens? How do gov control the total turnover? How to deal with the financing of the terrorism? Money laundering and other financial security issues? Too many questions "how and why" and instead of answers only one: "crypto!!!".
I love crypto and see good potential in them, but I have no illusions about it.
I admit cryptocurrencies have too many advantages, making the world cleaner and saving hundreds of years.
But you should understand that that hasn't happened now, cryptocurrencies will be ubiquitous in the future once regulation and countries are full.
We use them decentralized to some degree, but what about governments? Will they create a centralized or decentralized chain? See how Binance works you will understand why.
Anyone who says "let's kill the Fiat and use the crypto» either doesn't have at least a school education or is very stupid. Why? Because "death of the Fiat" means the death of the crypto - and at the same time the entire economy as a whole. People who follow such radical cryptanarchism cannot / do not want to understand that they are aiming for a catastrophe, for a world on fire, and not for a bright and progressive crypto-future.
FIAT money existed long before cryptocurrencies were created and the value of FIAT money was everywhere. I have the same opinion as you. FIAT money is doing well. And the mistake in the banks is that they print too much money and imbalance the economy, especially the Fed. They are manipulating the world economy. People still use FIAT money to buy cryptocurrencies. If they do not have fiat money, what will they get to buy it?So that's the point - that there is no way.
The problem is not even that it is impossible to get rid of Fiat money and not that they print a lot, but that the complete rejection of paper in the use of cryptocurrency is the same bike that has already been invented a thousand times.
What is the difference between printing Fiat money or printing more tokens? How do gov control the total turnover? How to deal with the financing of the terrorism? Money laundering and other financial security issues? Too many questions "how and why" and instead of answers only one: "crypto!!!".
I love crypto and see good potential in them, but I have no illusions about it.
I believe that the government will not allow crypto to replace fiat. Because if the government lets crypto beat fiat,
then the government will lose control of the financial sector. Moreover, volatile prices the reason crypto still cannot
completely replace fiat. Indeed, the best way is not to kill one system to replace another system. Better to make
harmonization between fiat and crypto.
then the government will lose control of the financial sector. Moreover, volatile prices the reason crypto still cannot
completely replace fiat. Indeed, the best way is not to kill one system to replace another system. Better to make
harmonization between fiat and crypto.
Anyone who says "let's kill the Fiat and use the crypto» either doesn't have at least a school education or is very stupid. Why? Because "death of the Fiat" means the death of the crypto - and at the same time the entire economy as a whole. People who follow such radical cryptanarchism cannot / do not want to understand that they are aiming for a catastrophe, for a world on fire, and not for a bright and progressive crypto-future.
FIAT money existed long before cryptocurrencies were created and the value of FIAT money was everywhere. I have the same opinion as you. FIAT money is doing well. And the mistake in the banks is that they print too much money and imbalance the economy, especially the Fed. They are manipulating the world economy. People still use FIAT money to buy cryptocurrencies. If they do not have fiat money, what will they get to buy it?
Of course, both fiat and cryptocurrencies will coexist with each other, neither one nor the other will have to be killed. The ideal option would be to create an alternative in all areas, so that anyone can choose for themselves whether to pay their Internet bill (for example) with fiat currency, or cryptocurrency.
There are a lot of combinations between Crypto and fiat crypto can never replace fiat crypto decentralized It is not under anyone's control and many countries do not yet support crypto but Fiat applies to almost all countries. It has to do with the country's economy in that case no one can break Fiat. In the case of digital transactions crypto is much more advanced and investment is much more profitable. Although Fiat has an effect on the currency it has no effect on the crypto and continues to depend on the market.
Shouldn't crypto run with fiat? because indeed a large and successful crypto must have fiat value ... if crypto is without fiat value how can we shop using crypto? while the products we are going to buy all use fiat as their price ...
Isn't crypto and Fiat currently collaborating directly? although it is not felt directly.
like this,
You carry out digital transactions, be it trading or investing using Crypto. after getting a profit, will you use crypto to buy coffee, cigarettes, milk and other basic necessities? or do you need to change it to fiat first, after that you can buy coffee, cigarettes and milk?
from here I think the collaboration between fiat and crypto has been established
like this,
You carry out digital transactions, be it trading or investing using Crypto. after getting a profit, will you use crypto to buy coffee, cigarettes, milk and other basic necessities? or do you need to change it to fiat first, after that you can buy coffee, cigarettes and milk?
from here I think the collaboration between fiat and crypto has been established
I think fiat cannot be replaced with crypto and that's the reality.Right now we see that digital money is important because of the virus but time will come when it's over, everything will return to normal and we will use cash again. I agree if fiat collaborates with crypto for a better future in financial system, that's great.
I tend to agree with your position overall - crypto can't replace fiat, not now at least.However, I am not sure that there will be distinctive moment when everything will be "normal" again.
Chances are we're building new normal now and blockchain/crypto already sort of inlaid in our economy
Decentralized cryptocurrency can become a single currency on Earth only when there is a single superstate and then, after solving some important issues. Until that time, decentralized cryptocurrency will be beneficial to society if it is used alongside national money.
I think it's difficult for fiat and crypto to collaborate because both has different features and system. Also the decentralized digital currency will not be controlled by the government which issued the fiat currency. But if the government accept crypto then it's much better because people could have choices if what to use in terms of payments or buying something. It will also lead to increase the mass adoption of crypto.
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