harmonization of fiat and crypto - page 17.

magneto

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Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

I think that the growing trend is that countries will try to incorporate crypto into their fiat currency more and more, in the form of national cryptos. Just like what Venezuela has done, and India and others are looking at doing.

To me, I don't think that it's very likely at all that fiat currencies will ever replaced by decentralised cryptos because the government would simply never be willing to give up their control. Centralised cryptos could potentially be issued though in lieu of paper based fiat currencies in the future.

However, there will be a place for decentralised crypto in my opinion and an extremely big one. The most likely thing to happen in the future is the coexistence of decentralised cryptos and fiat, with many merchants that would accept both currencies.

Argoo

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Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

Regardless of our desire, fiat will not disappear anywhere and no cryptocurrency, neither decentralized nor centralized, will replace it. No government will ever make such a decision. The national money of each state always reflects the state of the economy of this state and is always associated with it. Cryptocurrency is in no way connected with the economy of any state and therefore cannot replace with itself national money. She can walk only along with national money and in this plan will really coexist with her. There are no other options here.

Christopher_Hayes

newbie

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Fiat currency is way too established to be replaced by cryptocurrency anytime soon. I also don't believe in people saying fiat and crypto can't coexist, well guess what? It's both existing now and both are doing fine. It may not be what we expect but perhaps this is what's meant to happen: for both to exist and be used by people for different purposes.

nightxglow

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I don't agree as well with the statement that fiat will die and bitcoin will replace it, because however i think fiat is the best and suitable thing for currency or payment or anything. Although it lacks for many things, but bitcoin is also lacks for many things. And having a change is not a easy thing and i bet not many people ready for this.
I prefer both of them, fiat and cryptocurrency and complement each other, support each other and make something that can be better for our economy without destroying each other. If we can have both, why not?

arbifahrozy

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$CYBERCASH METAVERSE

agree with you if fiat will not be replaced by crypto, because fiat is very dependent on the country's economic stability. it is very chaotic if fiat experiences fluctuations. fiat and crypto collaboration may make the country's future economic system, and I agree if that happens

iTradeBit

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Fiat - paper, credit, unsecured money, the money that we use until now.
It seems to me that at the moment the crypt will not be able to take this place - a general intermediary for the evaluation and exchange of any goods, works or services.
However, it seems to me also that in the foreseeable future, some introduction of cryptocurrency will occur in the existing financial system, today in many countries they are actively trying to develop a legislative scheme for the circulation of cryptocurrency and their regulation. In such conditions, the merging of cryptocurrency and Fiat is inevitable. The financial system of the future will find a place in the world, perhaps soon.
As for the full replacement, I would not have looked so far, I think not earlier than in a couple of 10 years, although everything is possible, nothing is impossible.

jademaxsuy

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Yes of course and the institutions that could make this harmonious activity could be done by the banks. I have seen a thread that bitcoin has connected to banks for more users to easily get the crypto - fiat conversions through banks. Banks will also benefited on this since they will be able to get more service fee in the process.

Harrisonimo

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Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

I am in support of the harmonization of both the fiat and the cryptocurrencies. The exchange platforms have been a saving bridge in having this merger/relationship. Both parties are equally as important as the other with respect to perspective. I believe there is harmony till date that's why we still have both still existing, especially the cryptocurrency.

B.

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Quote from: Impulseboy on October 14, 2018, 04:23:25 AM

No I do not. I believe that we will see fiat "live" for a long time with cryptocurrency existing at the same time. I think that people will have a hard time coping up because of how complicated cryptocurrencies are. However, I wonder if the prices will stabilize once everyone starts using it. What do you think?

in the end bitcoin will remain on the stock commodity track, most people still feel complicated due to legality and education factors that do not reach all walks of life.

I believe using bitcoin is more difficult in the mindset of ordinary people, and also they still question the issue of asset security.

Harmonization has now been applied with conventional banks as transaction mediators that are connected to the exchange as a conversion. however, if regulations are not made, then inflation concerns will continue to grow.

Ycekezuv

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At the moment, Fiat money can not die, because it is essentially the only payment system, and the cryptocurrency is not yet able to provide all.

yitzjoe

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until now your solution is right for me, fiat will handle daily activities that cannot be touched by crypto such as the purchase of basic necessities and bridges throughout the village without the internet and crypto wallet. crypto will rely on online trading and trading activities that will provide economic growth for each country without having to blame each other

coinfinger

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Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

I don’t agree with that and it’s not going to happen. Some people are just being so dumb. There are still a lot of people in this world who knows nothing about computer or digital money and they don’t even have interest in it, all they need is what they can see and that’s physical money (cash).

Digital methods are meant for those of us who think they are smart and are looking quick and easier ways to do things. Just like they have it in bank, if you have a bank app you can easily send money to anyone without having to stand on the line to pay in money.

fiomcorka

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Quote from: Ains_sama on October 13, 2018, 05:51:06 AM

I agree if crypto and fiat collaborate, because it will be mutually beneficial, but if crypto can be received in the government, I think there must be control rules. so crypto usage is really on a good track. during crypto is still running on the system that is decentralization. I think the government will not add crypto.

If the government take over cryptocurrency I don’t really think we will still have coins like Bitcoin and the rest of them. Everything will be changed and we will start paying tax and also won’t have control over our money. They can even lock or freeze your crypto wallet if they suspect anything just like they do in bank. Things are alright as they are and we don’t need to be seeking for what will destroy what we have been fighting for.

Ewinsane

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Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

They are already harmonized as well as it gets. Right now we are living in an age where buying fiat with crypto or buying crypto with fiat is as easy as it gets, you just send your money to any exchange you want and you can purchase crypto or in any exchange you want to use you cash out your crypto into fiat and withdraw it to your bank.

There are even talks about decentralized exchanges recently that got more attention specially thanks to binance trying to create one. So, I do not know what else left aside from a mobile app that allows you to pay stuff with crypto and the seller takes fiat while you pay crypto which opens all kinds of possibilities.

KorakPawon

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I think I agree with that. Both fiat and crypto actually should synchronize in the future? because even people and the world change, there's always some of partly people who always have a choice to decide fiat or crypto as the payment system, contemporary society tend to love 'manual' thing which is fiat, while the modern one perhaps prefer crypto compared to fiat. Even the situation happen like that, interaction is always there, among human, who likes or dislikes. So, both crypto and fiat still can be use by people regarding to their own choice.

DAVETUN

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Bitcoin is the currency of this age

Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

I agree/believe an harmonization between fiat and crypto is the best deal now, as there are several countries that is yet to develop to the point of relying only on crypto, in other to carry them along also I know that fiat collaborates with crypto in building a secure financial system.

denuhaqiqi

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in fact, crypto has not been able to reach and be accepted by everyone (especially those in remote areas). for a country that is acceptable, but not necessarily for other countries.
collaboration is seen as better, for governments that do not want to risk using cryptocurrencies on the financial and economic stability of their country. for example when we will use crypto to pay for goods, then we must convert it to fiat first. that may be accepted by the government, rather than making crypto the state currency.

usorin

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For the moment the crypto market is part of a niche industry. It is true that the technology behind it is real and futuristic, but as lon lg as there is no governmental reglementation it is impossible to remove the fiat coins. We will see how things evolve.

Impulseboy

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No I do not. I believe that we will see fiat "live" for a long time with cryptocurrency existing at the same time. I think that people will have a hard time coping up because of how complicated cryptocurrencies are. However, I wonder if the prices will stabilize once everyone starts using it. What do you think?

Osayo

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Quote from: yansen on October 10, 2018, 07:07:01 PM

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.

I also do not support any notion that the fiats should die. What if the fiat dies, do some of us believe that crypto will be enough to settle all payments and bills? Think of a remote place without internet or electricity too.

Topic: harmonization of fiat and crypto - page 17. (Read 22987 times)