Topic: harmonization of fiat and crypto - page 6. (Read 23007 times)
I doubt that crypto can replace fiat completely during our lifetime. However, I think that replacement of 10% of the market is perfectly possible. That would mean 8 trillion USD market capitalization for crypto. Notice, not $257 billion, as it is today, but $8 trillion. In that case Bitcoin can cost roughly 30 times more than it costs currently, or $240,000 for 1 BTC. I've seen similar price predictions based on another logic, and I think they are not that unrealistic regarding the possible Bitcoin price.
and that is all I think can be done by the government that plays a role. I think with the policy the government can regulate both so that it can run in harmony. and that is what we hope for so far, so that crypto can develop well
Government does play a role,,, but to me only in adoption. If you allow self regulation between crypto, and let businesses grow without restriction, then yes adoption can happen quicker and people can pay taxes and economies grow. It is win win for everyone. But restrict or ban, and people use them anyway but adoption is slower and government gets no taxes. Lose lose;)
I don't see virtual coins replacing fiats someday and a future with only cryptocurrency as a national currebcy is very remote. But I believe that fiat and cryptocurrency can coexist and become partners instead of competitors. Banks and governments can also use blockchain technology to improve their various services to their clients and people respectively.
In any case, Fiat and a cryptocurrency can exist simultaneously and at the same time have quite a lot of contact. And all the talk about replacing the cryptocurrency of all fiat currencies is nothing more than populism. in any case, until at least 2 generations change, the cryptocurrency will not have a leading position in the economic and financial sphere of the world.
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 do not believe that fiat money can be replaced by electronic money. Because there are so many people who can't understand technology and that's the majority. People in the mountains and remote areas, they will not be able to get the network to pay for a certain amount.I think that both should be integrated and it will help society move faster.
It can be harmonize as long as the both sides are stabilise in terms of value. In my opinion crypto and fiat system should help one another to evolve our current monetary system, I don’t think killing the banks is right but to improve banks transparency might be the right words.
and that is all I think can be done by the government that plays a role. I think with the policy the government can regulate both so that it can run in harmony. and that is what we hope for so far, so that crypto can develop well 
It can be harmonize as long as the both sides are stabilise in terms of value. In my opinion crypto and fiat system should help one another to evolve our current monetary system, I don’t think killing the banks is right but to improve banks transparency might be the right words.
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 see Bitcoin replacing fiat not even in the next 10 years, they are two currency with very different functions, they can do cooperation which is what happening right now, but I don't see one killing one or making the other one disappear, in fact, it will work to our advantages if they co-exist.
Fiat is going to be much more around for a large part of the society, but in the future, trans border transactions and remittance will make use of crypto as an option to the fiat, because of its fastness and low fee. No wise human is likely going to keep sending money and incurring such a huge cost in transaction fee.
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 do agree, but i do think fiat will be replaced by digital money. I believe it will and will happen in future, the only questions is how many years it will be?. I do believe fiat is only a paper that considered as currency and i do think we could think the same way for cryptocurrency as a currency, we just need a good coin that are usefull and backed by goverments which is stable and act as good as the fiat that we hold right now. 
I like to think we have both options to use as currency: a centralized one and a decentralized one.
One doesn't need to kill another. I think it's not necessary to be so radical on this matter, this way we are able to benefit ourselves from the advantages that both of them have to offer. If fiat died and we had only btc and altcoins (decentralized) we could become hostage of whales and speculators in general.
In other words you would get rid of governments control, but you could be controlled by this other group.
indeed, to use crypto in full, it is still a difficult thing. but with both of them used, of course we have 2 options in payment. by walking in harmony, I think both of them can develop wellOne doesn't need to kill another. I think it's not necessary to be so radical on this matter, this way we are able to benefit ourselves from the advantages that both of them have to offer. If fiat died and we had only btc and altcoins (decentralized) we could become hostage of whales and speculators in general.
In other words you would get rid of governments control, but you could be controlled by this other group.
I like to think we have both options to use as currency: a centralized one and a decentralized one.
One doesn't need to kill another. I think it's not necessary to be so radical on this matter, this way we are able to benefit ourselves from the advantages that both of them have to offer. If fiat died and we had only btc and altcoins (decentralized) we could become hostage of whales and speculators in general.
In other words you would get rid of governments control, but you could be controlled by this other group.
One doesn't need to kill another. I think it's not necessary to be so radical on this matter, this way we are able to benefit ourselves from the advantages that both of them have to offer. If fiat died and we had only btc and altcoins (decentralized) we could become hostage of whales and speculators in general.
In other words you would get rid of governments control, but you could be controlled by this other group.
In our contemporary world, the use of fiat is still a necessity and as such there need to maintain harmony between fiat and cryptocurrency is very paramount. Not all the businesses and companies out there accept crypto as a form of payment hence the need for crypto-to-fiat and fiat-to-crypto conversion is still important. Crypto and fiat must be allowed to coexist instead of wishing crypto to replace fiat.
Cash transactions will probably be dead and not really fiat. Fiat is simply a government controlled currency. I do not see governments handing off control of currency anytime soon. Even if major currencies like dollars becomes extinct and the government is able to control few cryptocurrencies , the cryptocurrencies definitely became the new fiat currencies.
I also dont believe that fiat will totally die. Because there will always people that like traditional items. Such as usd gold etc. But ofcourse crypto will take a big slice from the cake.
Banks will not allow this to happen. The only thing that they can and will try to do is to become intermediaries, between the crypt and fiat currencies. This is the most ideal scenario in which they control not only fiat currency but also part of the crypto market.
Fiat and cryptos will coexist for more time to come without a doubt. But with technological advancement it won't remain the case. We will shift to better and more secure payment methods and then fiat will go away automatically. We might even see better paying mechanism than cryptos as well.
Fiat, like cash, may someday die, but this will not happen soon, and it is not yet known whether it will ever be at all. However, in any case, the national money of the states will always exist until there is only one super-state or alliance of states on the Earth that create their own currency like the European Union.Until this time, the cryptocurrency will go in society with fiat.
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 both the Fiat and the cryptocurrency was been good at the future it need to be calibrated then only the future will be more peaceful and proper way of guidance will always been helpful for the changes happening to both of these coins was been positive.
Fiat and cryptos will coexist for more time to come without a doubt. But with technological advancement it won't remain the case. We will shift to better and more secure payment methods and then fiat will go away automatically. We might even see better paying mechanism than cryptos as well.
all possibilities can happen and no one can find out and it is also possible that the government will adopt an economic system that is used by crypto currencies along with the times and technology
Governments dont want people to use crypto. Thats well known and even if they accept blockchain technology so that it can be applied in different sectors use of bitcoin is something they want legal persecution in. They make their stand very clear about this in some countries while it remains a grey are in others. While its better not to speculate on this topic, if it happens in reality that many countries accept bitcoin then its going to be a really bullish move.The perfect financial situation for me is that a person has a good bank account holding cryptocurrencies and a lot of cash as well. I guess crypto will become as popular as traditional money.
LOL a bank account holding crypto? are you insane? You hold crypto in their respective wallets and only "green" cash fiat in banks. Well someone who has both in big amounts is definitely rich no doubt but rich is again a relative term. 
They do collaborate. Without fiat how are we going to know the value of crypto and what will be the basis of pricing? One will say bitcoin will be the basis and how are we going to determine the value of bitcoin? Fiat will not disappear it is supported by government and with the unreliability of cryptocurrency it will make it stay unless in the future they decide to make their own country's cryptocurrency and totally abolish fiat.
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