How many years will take that fiat coin will be replaced by cryptocurrency? - page 5.

ubeng07

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Quote from: ?? on ??

Cryptocurrencies are since several years on the market and not any government replaced fiat coin with cryptocurrency and I personally think that this will never happen because cryptocurrencies rely on the internet, but governments need to offer a money system that is basically independent from the internet and electricity and what everyone whether young or old is able to use.

Agree with you this could never be happen they will accept the currency of crypto but to replace the fiat currency they will never do that government will not agree with this situation they will be still loyal on fiat currency no matter what happen.

ryanben

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I think it will take 5-10 years for the cryptocurrency to become popular and in the future it can replace the fiat but with the government having to control the supply. It also takes time for them to research and create the state-of-the-art security system to avoid being attacked by other countries. In general, it is very feasible but the risk is too great

nasipadang

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Quote from: MediBloc on October 09, 2017, 09:43:32 AM

How many years will take that fiat coin will be replaced by cryptocurrency?
DO you think it's possible or not at all? Plz share your opinion:)

It takes a long time, but I think if the countries makes their own cryptocurrency and the government supports it with some more favorable regulation than using fiat, that means cryptocurrency replaces the fiat shortly.

ZaoXhou

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You don't really think governments will let it get that far right Roll Eyes

? They have too much to lose.

Kat_messy

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Come on! Never, I guess. This is a single economy - ordinary money and crypto, and both have the right to life

Dullmartini

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I don’t think it will ever happen. Digitalization of fiat currency like many countries are doing is not the same as replacing fiat. Fiat forms the base of government control over its policies. Government decides how much money to print, what the interest rate will be, use that to either heat up or cool the economy. They use their currency to attract foreign investments. It’s hard to imagine that countries will ever give up that control.

But it’s really interesting to think about how all this would work if there was no fiat. Nothing short of a revolution.

tsaroz

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DGbet.fun - Crypto Sportsbook

It would be sooner. People would want easier way to transact and I believe the fiat too would turn themselves to crypto for staying in the field.

bncbnc

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Quote from: Vaskiy on October 10, 2017, 03:41:17 PM

I don't think that in a short or long bitcoin won't replace the fiat system. Fiat will always serve as the base for all the financial circulation. Maybe in the later years bitcoin will go similar to the mainstream use of fiat, but there is no need to think about the replacement because compared to the fiat usage bitcoin usage is very low in number.

In fact there is not such a specific time which we can mention for cryptocurrencies to replace fiat, but it is very clear that it will take decades, because currently not more than 1% of the total population know about bitcoin and even they are using bitcoin as optional, because still altcoins are not too much popular and very limited number of shops are accepting bitcoin for shopping and for other reasons.

shillberting

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It is possible for sure but the timeline isnt near any time soon. We first need bitcoin to stablize and that probably will not happen for another few years. Then you need mainstream acceptance and that also probably

will not happen for a few more years. Perhaps 25 years down the line bitcoin can replace fiat but not right now. Also alts will be too radical and unstable to support the change from fiat to alts. I think it is possible for bitcoin

to make that transition but not for alts and certainly not for atleast 25 years time.

Argoo

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I do not think that in the near future the crypto currency will completely replace the currency fiat, even in some particular country. For this, it is necessary that there are a number of prerequisites and above all a highly developed technological society that will possess the necessary practical skills and theoretical knowledge in the crypto currency. Now Sweden and Denmark have already announced that they are going to in the near future, in a few years to go completely to the digital currency. However, I do not believe in the success of this revolutionary plan. Maybe this will happen sometime in the distant future.

Vaskiy

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I don't think that in a short or long bitcoin won't replace the fiat system. Fiat will always serve as the base for all the financial circulation. Maybe in the later years bitcoin will go similar to the mainstream use of fiat, but there is no need to think about the replacement because compared to the fiat usage bitcoin usage is very low in number.

abcd7

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i dont thing so that will happen because .... replace will never happen my personal opinion

Vatimins

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Blue0x.com

Quote from: MediBloc on October 09, 2017, 09:43:32 AM

How many years will take that fiat coin will be replaced by cryptocurrency?
DO you think it's possible or not at all? Plz share your opinion:)

Dude, like you and many others in this forum, iI really love crypto currencies. But, let’s be honest here., there is just no freaking way that fiat will be replaced by crypto currency. If you ask me, crypto currency fading away has more possibility to happen than fiat getting replaced. Let’s just be happy that we can use both. Because both are better with each other than being compared.
Have a good one op.

Maren

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Define replaced.
There is a chance fiat goes crypto.

Some sort of physical tokens will always be in use probably, even if we develop the perfect digital currency. Unless we go way forward and we all have implants that keep us online all the time, but even then some sort of of the record, black market, ninja currency will probably emerge.

NoiseBoy

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Sound. Fury. Signifying.

As with any market, there will be competition and many competitors. Fiat currency will continue to exist for at least the foreseeable future, but it will increasingly have to compete with crytpo. Numerous countries are moving away from physical cash and moving towards putting their fiat currencies on a blockchain. That will give them increased relevance, at least for a time. It will also make it apparent just how much governments manipulate the supply (and thus price) of their domestic currencies. While there will be huge efficiency gains in settlement time and cost, the lost of faith in government/bureaucratic management of the money supply will have the counter-intuitive impact of diminishing confidence in fiat, driving more users to crypto.

Tl;dr: fiat won't be replaced by crypto until at least the singularity, but it will be increasingly displaced, likely at a parabolic rate.

ngesotcoy

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Both fiat and cryptocurrency very important present and future, it can't replace, probably never. To do a cash transaction from hand to hand is free and quicker, moreover fluctuating value of cryptos will definitely prevent takeover of fiat.

TimeTeller

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Everything is possible but we can't really predict our future.
Might be a reality someday because of the rapid evolution of technology.
But too difficult to tell how many years from now will that scenario happen.

PowerfulGuerilla

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I agree. If to guess, a certain line of events should occur in order to create favorable conditions for the cryptocurrency to be used in everyday life. Until then, the fiat money will not be replaced. And I wouldn't count in years, rather in decades, or even longer.

Qiuyue201

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Quote from: MediBloc on October 09, 2017, 09:43:32 AM

How many years will take that fiat coin will be replaced by cryptocurrency?
DO you think it's possible or not at all? Plz share your opinion:)

The correct answer should be no ETA about that, because you are asking about the speculation and no one was know about that. If the more company will try to do a tokenization for the assets and that bring the crypto to the mainstream to increase the adoption by those new users. So, it will be possible but in other side that can be called as a dream

MediBloc

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How many years will take that fiat coin will be replaced by cryptocurrency?
DO you think it's possible or not at all? Plz share your opinion:)

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