I don't think Fiat will always be the norm. It is so right now becayse old man are still in power and unwilling to give it up. A few politicians control the fate of millions. It's the same kind of governments all around the world. Politicians first think about themselves and only later about the ordinary people. It would be good for society if crypto currencies would be playing a bigger role, but for that to happen fiat money needs to lose some power. The problem we face with switching to a more independent financial system is that governments would need to act more prudent and couldn't keep issuing new debt every year. Unfortunately politicians are not willing to make that sacrifice yet. Maybe in 10-20 years we will have a new area of more open minded politicians.
It is a mistake to think that just because things are a certain way right now they cannot change, money has evolved through the ages and at some point I am sure people thought the same way about the gold standard until fiat became the new standard, people will understand the hard way why it was a mistake to accept the fiat system, and once they see themselves directly affected by the fiat system that is when they will look for a change, and even if the politicians want to still sustain some form of fiat system the opposition to it will be enormous at the time. 
Topic: How Fiat Will Always Be The Norm - page 4. (Read 818 times)
This issue of crypto and fiat comparison is as old as hills. Fiat is there in different forms from the time man started life on this planet earth. Crypto is just decade old and has challenged the monopoly of institutes controlling wolrd finance through fiat. I don't think fiat is going somewhere atleast in near future, while crypto adoption may increase with time it won't replace fiat for daily living for many reasons.
Even if crypto is widely accepted in the world, fiat will still be the standard by which all are measured. Not only cryptocurrencies but gold or other precious metals will be exchanged without fiat. If Fiat was indeed superseded by some other method, I think Fiat would not have existed for centuries.
I don't think Fiat will always be the norm. It is so right now becayse old man are still in power and unwilling to give it up. A few politicians control the fate of millions. It's the same kind of governments all around the world. Politicians first think about themselves and only later about the ordinary people. It would be good for society if crypto currencies would be playing a bigger role, but for that to happen fiat money needs to lose some power. The problem we face with switching to a more independent financial system is that governments would need to act more prudent and couldn't keep issuing new debt every year. Unfortunately politicians are not willing to make that sacrifice yet. Maybe in 10-20 years we will have a new area of more open minded politicians.
Highly developed states will not switch to the use of cryptocurrencies and at the same time abandon their monetary unit. Their currency is the key to successful economic development. Cryptocurrency works on a completely different principle and this is unacceptable for states. Of course, we see that there are various exceptions to this in the world. But they will remain the exception. But the general rule remains. Cryptocurrency will walk in society along with the currency of states, and no more. 
We need to understand that we are towards the slow changes where cryptocurrencies will be dominant especially when WWIII takes place which will gonna lower the value of each nation's currencies involved in that war. They will surely migrate their assets into one of the cryptocurrencies available, especially bitcoins and when that happened, the price of BTC will drastically increase. Slowly changes are happening right now because if you look at the companies that don't even care back then, they are now one of the proudest companies to say that they are gonna use it on their platform.
yes in fact we still using fiat for everyday use not in everywhere accept crypto even tho elsavador accept bitcoin as currency we can take look there is community who dont accept bitcoin as currency.
in my opinion crypto wont replace fiat, if they do government will usually banning in because they dont have control of it. so maybe in couple of year crypto will start to be regulated first and then get along with fiat but wont ever replace fiat but maybe we can see many merchant will start acepted
in my opinion crypto wont replace fiat, if they do government will usually banning in because they dont have control of it. so maybe in couple of year crypto will start to be regulated first and then get along with fiat but wont ever replace fiat but maybe we can see many merchant will start acepted
Economic systems change all the time. Did you think that cash based systems were the norm? I'm sure everybody did, then credit card technology was released and transactions became digital. The entirety of someone's net worth can be demonstrated by pixels on a screen, and wealth transfer can be instant. This tech only took some number of years to come to fruition and so give it some time for people to discard traditional currencies for crypto. The governmental trust between the government and its citizens already fragile. It takes little to break the bond. Bump the inflation rate through irresponsible spending and you'll see how quickly the people begin to lose faith in their government's fiat currency. I don't view government as an obstacle granted every citizen is on board. Challenge isn't really government, it's an ignorant population.
However, the majority of the population are not willing to do this and still only see FIAT as the main money system.
the majority do not want to change their currency because for him bitcoin is very risky with prices that are not fixed like stable fiat for local currencies,
that's just my opinion which is a little primitive but that's what is in my country where people don't know much about bitcoin, especially in my environment people who don't understand crypto issues
The only reasons FIAT "needs" to remain as the norm is only because all the governments in the world have one thing in common: They want to stay in control. They are terrified of giving up power. Just look at what happens when a government is afraid of their people too much, we get Russia and North Korea.
But that does not necessarily mean that Fiat will remain the norm.
If anything, the unsuccessful attempt by governments to squash out Bitcoin or control it is proof that we are headed towards a new era of money. A new generation of money, in fact.
In a true democracy, we cannot have corruption and shady third parties which have control over our monetary freedom. Thats why Fiat will NOT remain the norm.
But that does not necessarily mean that Fiat will remain the norm.
If anything, the unsuccessful attempt by governments to squash out Bitcoin or control it is proof that we are headed towards a new era of money. A new generation of money, in fact.
In a true democracy, we cannot have corruption and shady third parties which have control over our monetary freedom. Thats why Fiat will NOT remain the norm.
So far this 21century is concerned ,I think fiat will always be the normal form of money, though technology can grow rapidly.
But the time I expect we're all going to do away with fiat currency is going to be in the next century,
because we're still being ruled by the old guys who doesn't want to embrace the new technology BTC.
If we do consider on how fiat money had made out its existence for how many decades or centuries then it is really not surprising about these kind of mindset or presumptions on how it would be still But the time I expect we're all going to do away with fiat currency is going to be in the next century,
because we're still being ruled by the old guys who doesn't want to embrace the new technology BTC.
remaining on upcoming future or years to come even with our lifetime or even more.Considering that government would exist then its no surprise that they would really be still remaining on this
system even how innovation or changes would progress out.Also, people had get used to fiat system and would simply stick out into it no matter how many much better options that we do have
digitally which i couldnt really blame them off on having those kind of perceptions.
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What type of solutions are there to fix this problem?
Well, the thing is, crypto is still very young and I think it's rather too early to begin to discuss on matters like that this.But then, the discussion isn't out of place though, truth is, crypto will sure dominate and become a major form of buying and selling in the future, but it's gonna take time, and when I say it's gonna take time, I mean it's gonna take a lot of time, government are gonna do all they can to make sure fiat continue to stay dominant over crypto but crypto will eventually take over from fiat.
It only takes big companies (that is manufacturers) to start accepting crypto payments, ones they do, then smaller businesses (retailers) will start accepting crypto payments and then to the consumers who will be willing to spend their crypto to pay for goods and services, when this begins to happen, then you know the war against fiat is being won, it will happen but might not be so soon.
So far this 21century is concerned ,I think fiat will always be the normal form of money, though technology can grow rapidly.
But the time I expect we're all going to do away with fiat currency is going to be in the next century,
because we're still being ruled by the old guys who doesn't want to embrace the new technology BTC.
But the time I expect we're all going to do away with fiat currency is going to be in the next century,
because we're still being ruled by the old guys who doesn't want to embrace the new technology BTC.
I wouldn't go as far as to say it'll always be the norm. After all, even though it seems that fiat has been more of less around since the 7th century in China, there have been around 150 years of great popularity in the West of the gold standard of money, and the US, famously, abandoned the standard and went for fiat in the early 70s of the previous century. Some there can easily come a period of time when fiat gets abandoned in various countries. But I don't think this time is near, so I do agree fiat will probably remain the norm for decades to come. And I agree even more that people are not ready to abandon fiat for cryptos. Some are, but the vast majority certainly aren't. I don't think there's a way of fixing it, though.
This will be for sure a spiral down to something really bad in the next while. What type of solutions are there to fix this problem?
Fiat is the medium of exchange of goods and services in the circulation of supply and demand. Not to mention the issues surrounding inflation. What is the angle of fiat not being able to live up to the expectations of modern fiat, where value for fiat is used for any form of online payment? oh no that's why the demand for cryptocurrencies is increasing, bitcoin is in maximum form, inflation hedge, usage mindset and self-regulatory is a good education Rather, the only criterion that fiat has is the subconscious of obsolescence.
Fiat will be always there for exchanging Bitcoin or other cryptos, without fiat, there will be no value for crypto.
Fiat is properly designed and embedded in the system which most of the population using for many years. As we all know there are many factors involved in day-to-day life, related to financial activities. For this fiat is necessary. Crypto could be an option for this but has a lack of major factors considering transaction costs, time for confirmation, etc.
To date, no apps for dealing with crypto has introduced for day-to-day life. Implementation of crypto for payment structure can be the best solution to increase the use of crypto instead of fiat in day-to-day life.
However, the majority of the population are not willing to do this and still only see FIAT as the main money system.
Fiat is properly designed and embedded in the system which most of the population using for many years. As we all know there are many factors involved in day-to-day life, related to financial activities. For this fiat is necessary. Crypto could be an option for this but has a lack of major factors considering transaction costs, time for confirmation, etc.
What type of solutions are there to fix this problem?
To date, no apps for dealing with crypto has introduced for day-to-day life. Implementation of crypto for payment structure can be the best solution to increase the use of crypto instead of fiat in day-to-day life.
The fiat currency that the majority of the people in the world has already gotten well accustomed to isn't that easy to remove from the equation. Other alternatives may offer great convenience but it will mot replace the ease of exchanging goods when fiat is used. And so, we can only be satisfied that bitcoin or any crypto currency is already being massly adopted and not being rejected by the world of being labelled as fully illegal by the governments. With this, I can only see fiat still being the primary choice for the majority in the near future.
However, the majority of the population are not willing to do this and still only see FIAT as the main money system.
I highly doubt the majority knows how it works, though. Understanding the banking system isn't easy for one who just smelled sweet profit. Let alone how can Bitcoin help in blunting its corruption. What most think when they hear "Bitcoin"? Internet gold, high risk investment and money laundering tool. What type of solutions are there to fix this problem?
Affect your social cycle. Motivate your people, encourage them learn more if they seem interested. Ask merchants if they accept Bitcoin. Those are from the top of my head. 
How Fiat Will Always Be The Norm
With all the ongoing growth with cryptocurrency has created many different avenues of direction in many ways. It does create more control for the people of their money but this is only successful when someone educates themselves on this system.
However, the majority of the population are not willing to do this and still only see FIAT as the main money system. If they hear about Bitcoin, is only seen as a store of value or a like a stock to get more fiat.
Also the media, corporations and governments are still successful in making everyone use FIAT regardless of the inflation that is happening. Come to think on it, people do not see that fiat is the cause of inflation at all.
More and more inflation is happening with more money being printed all the time. Yet people still demand more services from the government which creates more money to be printed and more inflation.
Yet people do not see this as a problem at all, since the demand for specific services keeps increasing.
Many people just do not understand that they are encouraging inflation. All these factors play in the role that fiat is here to stay. People just don’t see the problems of fiat nor able to see the benefits of crypto.
This will be for sure a spiral down to something really bad in the next while. What type of solutions are there to fix this problem?
With all the ongoing growth with cryptocurrency has created many different avenues of direction in many ways. It does create more control for the people of their money but this is only successful when someone educates themselves on this system.
However, the majority of the population are not willing to do this and still only see FIAT as the main money system. If they hear about Bitcoin, is only seen as a store of value or a like a stock to get more fiat.
Also the media, corporations and governments are still successful in making everyone use FIAT regardless of the inflation that is happening. Come to think on it, people do not see that fiat is the cause of inflation at all.
More and more inflation is happening with more money being printed all the time. Yet people still demand more services from the government which creates more money to be printed and more inflation.
Yet people do not see this as a problem at all, since the demand for specific services keeps increasing.
Many people just do not understand that they are encouraging inflation. All these factors play in the role that fiat is here to stay. People just don’t see the problems of fiat nor able to see the benefits of crypto.
This will be for sure a spiral down to something really bad in the next while. What type of solutions are there to fix this problem?
It is a bit of a catch-22 situation and you definitely identified one of the main reasons - all these people reciting "HODL" are stuck in the mindset that they own a form of digital gold. Some sort of unique and very rare that they must keep forever - like Smegle chasing the ring to Mordor. Many people around the world are lucky if they can save anything at all, they need a currency that is instant, convenient and functional in day to day life. While other cryptocurrency might at some point get to that stage, Bitcoin itself has many drawbacks associated with those things. I think the best way to use Bitcoin is for money repatriation for overseas workers, who are able to avoid greedy banks and money changers when sending relatively large chunks of money back home.
FIAT is too outdated for me because of hyperinflation, so cryptocurrency for me is the real future. But as of now, fiat will still be the main currency for the majority. In no time, cryptocurrency will be embrace fully by the whole world, best example is when Ukraine has been attacked by Russian, in times of crisis, cryptocurrency provides that FIAT can't.
Crypto could take over fiat, but fiat's strengths are it's trust and interoperability. Right now it's the easiest method to use, and that could be the very reason people end up using it as their main currency. Crypto payments are still not fully understood by many companies, and they aren't integrated into existing processes and systems. Bitcoin still isn't used enough which means it's still not a great solution for commerce, and fiat is the only widely accepted payment method around.
Well I wouldn't deny that Fiat would stay even with the development of crypto, heck even if the majority of the merchants and services accepted crypto, I'd doubt Fiat would actually die, it's just that convenient for most people. Also inflation is part of the system afaik, just that the government isn't exactly doing the best when it comes to handling it.
But that doesn't exactly mean crypto couldn't be part of the mainstream no?
anything is possible, just as Crypto could become part of the mainstream. it's only a matter of time, but for now FIAT is still the most important. Fiat is also present in digital form and it also makes transactions easier, but inflation is a problem that continues to occur on this earth.But that doesn't exactly mean crypto couldn't be part of the mainstream no?
Fiat and crypto are still side by side. If massive adoption happens to bitcoin I think Fiat will still survive.
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