harmonization of fiat and crypto - page 8.

TheUltraElite

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Quote from: nikogluttonym on March 23, 2019, 12:41:13 PM

Paper money in the future will not be. Each state will have their own crypto money. Which they can control.

I would agree with your first point but not with the second one. Every country making their own crypto currency is nothing different from every country printing their own currency for payments. What would be the difference between some USD and a digital USD if that is being phased in? Literally nothing and the problems with inflation and bribery will continue on a large scale. Bitcoin is something different from this approach of digitalizing money. Its about a system where the consensus does not depend on a central mode by is decentralized. You should go through Satoshi's whitepaper properly.

Quote from: sirminesalot on March 24, 2019, 12:41:11 AM

if the state and government have legalized the crypto currency as the prevailing currency, I think that cooperation or the government adopting the economic system used by crypto currencies is likely that the economy will progress very rapidly

They may or may not. A government adoption also means that the usage of that crypto will now be strictly regulated.

Irvinn

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Quote from: nikogluttonym on March 23, 2019, 12:41:13 PM

Paper money in the future will not be. Each state will have their own crypto money. Which they can control.

In the near future, the percentage of using non-cash forms of payment will increase, including due to an increase in the use of cryptocurrency. However, the paper money of the states will not disappear. They will always be in demand by certain layers and groups of the population. High-tech states with a high standard of living may try to give up their paper money, but I'm not sure that this experiment will be successful.
However, states will never give up their national money as a whole and will not switch to the use of cryptocurrency. Cryptocurrency will always go to the states along with national money and they will complement each other's capabilities.

sirminesalot

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Quote from: oppasong on October 10, 2018, 10:56:45 PM

if it is made to collaborate both fiat and crypto for the future it is very good because later many countries that do not accept crypto will accept crypto for the collaboration thus this system will be more secure and all people will want it to join the cryptocurrency world.

if the state and government have legalized the crypto currency as the prevailing currency, I think that cooperation or the government adopting the economic system used by crypto currencies is likely that the economy will progress very rapidly

nikogluttonym

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Paper money in the future will not be. Each state will have their own crypto money. Which they can control.

StarofBTC

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Quote from: kyucryp on March 22, 2019, 06:19:11 AM

if the existing currency, fiat, will collaborate with digital financial systems such as crypto. Fiat currency will not be replaced even though there are now various types of crypto. both of these currencies will be very useful for us in various conditions

Both can collaborate, I think, but they can't be joined together. They are both different things and there is no way for them to be joined together, one is the main currency and the other is not. You make use of fiat to invest in cryptocurrency because cryptocurrency is an asset and not a currency .so they are just two different things that can't work together.

All these people saying that fiat will die and will be replaced by Bitcoin are just a set of confused people, like seriously. What makes you think that Bitcoin is better than fiat or that fiat will be replaced by Bitcoin? I know that some are saying this based on the experience they have had with banks, but sometimes you're wrong. I do like Bitcoin, yes, but I don't expect it to replace fiat cause that's not going to happen.

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Quote from: daarul50 on March 16, 2019, 03:45:05 PM

New systems in the world of economics are not a threat, but a new system such as bitcoin must be adopted to help overcome problems when using fiat currencies. I imagine in the future there will be digital form like a crypto, this will be a very perfect progress in the world of economy.

Fiat currencies will exist forever and it is very unlikely for bitcoin to be adopted by all nations.
It is good for both ecosystems to be harmonized and the one help the other in order to help the economic growth of the global society and push economic growth forward.

kyucryp

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I strongly agree if the existing currency, fiat, will collaborate with digital financial systems such as crypto. Fiat currency will not be replaced even though there are now various types of crypto. both of these currencies will be very useful for us in various conditions, so that they will complement each other. currently digital currency is very necessary, but its existence will not disturb the fiat currency.

TheUltraElite

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Quote from: green_nelson on March 18, 2019, 04:14:37 AM

Yes! I think this is the most correct option. The idea is to radically change everything, get rid of fiat money and use only crypto - this idea is utopian. If you do everything smoothly, using the advantages of both fiat money and cryptocurrency, then no problems will arise.

There will always be problems with either of the two and some people will always find ways to blame one another.

But does not mean that crypto will not stay or fiat will not remain. Fiat will be there as long a different mode of assigning value to crypto is not found. Maybe gold will be there but still there has not been any such advancement except that few altcoins were released which were backed by gold. There will be governments and they are always anti bitocoin and so fiat does not have any place to exit even if it wanted to.

green_nelson

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Yes! I think this is the most correct option. The idea is to radically change everything, get rid of fiat money and use only crypto - this idea is utopian. If you do everything smoothly, using the advantages of both fiat money and cryptocurrency, then no problems will arise.

btc_angela

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Quote from: pat4cryptoreal on March 17, 2019, 02:49:26 PM

The only situation that will make cryptocurrency to have a fertile ground to grow alongside with fiat is our Government to give us freedom to use any currency of our choice. People that like fiat should continue with their fiat while those in support of cryptocurrency can use it. We should not be force to adopt any particular currency.

But sadly government will really force out to make a choice, how? if they ban crypto, so we are at their mercy. We all know that crypto brings some much freedom on us, but there are governments that doesn't allow their population to take advantage of it that's why they are totally against crypto today. The only choice we got is to go to other country that supports it, that is if you are willing to take that risk.

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Quote from: aad140386 on February 20, 2019, 06:45:38 AM

Of course, a quick replacement of fiat cryptocurrency will not happen. Most likely this will take a decade. Such things can not pass quickly. But if cryptocurrencies prove their advantage over fiat, then displacing fiat will be just a matter of time. This is evolution. Remember the story. People minted gold and silver coins, then began to issue paper money, which was provided with gold, then they also refused to provide money with gold and began to provide the currency with state assets. The financial system, like everything else in this world, is evolving.

Of course, there will be no quick replacement of the existing conventional cryptocurrency currency. Most likely, this will never happen. Replacing a conventional currency with a cryptocurrency of states will be possible only if there is only one super-state remaining on planet Earth or a single control center is created with the union of all states. As long as there are states with different economic and political interests, they will have their own currency and will react hard if it is in danger.

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Quote from: Dimas99 on March 17, 2019, 04:33:10 PM

Quote from: oppasong on October 10, 2018, 10:56:45 PM

if it is made to collaborate both fiat and crypto for the future it is very good because later many countries that do not accept crypto will accept crypto for the collaboration thus this system will be more secure and all people will want it to join the cryptocurrency world.

maybe it could happen because the fiat currency also requires an economic system using advances in time and technology and even then there is a crypto currency but what happens in the future no one can know

Fiat would still remain no matter what.They would either harmonize or not but currently seeing the situation of crypto.They do gain value basing on fiats which means they wont really be totally
independent once fiat wouldnt exist on the first place and knowing this old traditional system would be much always prefer by most people.Crypto is just an another option to have.

Dimas99

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Quote from: oppasong on October 10, 2018, 10:56:45 PM

if it is made to collaborate both fiat and crypto for the future it is very good because later many countries that do not accept crypto will accept crypto for the collaboration thus this system will be more secure and all people will want it to join the cryptocurrency world.

maybe it could happen because the fiat currency also requires an economic system using advances in time and technology and even then there is a crypto currency but what happens in the future no one can know

pat4cryptoreal

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The only situation that will make cryptocurrency to have a fertile ground to grow alongside with fiat is our Government to give us freedom to use any currency of our choice. People that like fiat should continue with their fiat while those in support of cryptocurrency can use it. We should not be force to adopt any particular currency.

Choyor

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Fiat is a government-controlled currency that was born hundreds of years ago, while crypto currencies are decentralized currencies, and as we all know if the government always wants to control their currencies, it is not possible to control the currency crypto. therefore for now Fiat and Bitcoin will always be side by side because they still need each other.

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Quote from: demonz666 on March 16, 2019, 05:28:14 PM

Quote from: yansen on October 10, 2018, 06:07:01 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.

yes I agree with you if the government allows crypto and fiat together to be good. but I think it is difficult for the government to legalize crypto. because they were afraid that crypto could threaten the government's banking system. and fluctuating crypto values will be difficult if used as a means of payment for goods and services. so for now crypto in my country is only used for investment and trade.

Some governments maybe threaten to crypto and this can be the reason why they restrict the use of it while other governments are now allowing the use of cryptos because they see its usefulness . they think that crypto can improve the economy . im sure that others will also unban crypto and crypto in the future will soon colaborate with fiats for an even better payment system .

Quote from: gowobonyok on March 17, 2019, 01:10:15 AM

I also disagree, I agree more if crypto remains a valuable asset and can be exchanged to fiat as it is already running. it will be better than crypto being the currency itself.

What you are saying is already happening . crypto can be used on both asset and currency use but its only depend on the user if what usage will he prefer for his cryptos .

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Quote from: oppasong on October 10, 2018, 10:56:45 PM

if it is made to collaborate both fiat and crypto for the future it is very good because later many countries that do not accept crypto will accept crypto for the collaboration thus this system will be more secure and all people will want it to join the cryptocurrency world.

maybe that is the reason why crypto currencies are created because it is needed in the future to become an economic system that uses advances in technology and time and may also cooperate with crypto currencies

gowobonyok

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I also disagree, I agree more if crypto remains a valuable asset and can be exchanged to fiat as it is already running. it will be better than crypto being the currency itself.

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Quote from: mrdeposit on March 16, 2019, 05:31:03 PM

I guess they are both going to be used, but as time goes by, one of them will start to overtake the other, causing the other to disappear completely and winner will be most likely crypto.

possible as you explained, but it takes time for that. of course this is not separated from the role of society as well. of course they can choose later between the two most profitable

mrdeposit

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I guess they are both going to be used, but as time goes by, one of them will start to overtake the other, causing the other to disappear completely and winner will be most likely crypto.

Topic: harmonization of fiat and crypto - page 8. (Read 23006 times)