Topic: In the next decade, BTC and digital currencies will “fully” replace fiat? - page 4. (Read 953 times)
December 07, 2019, 06:56:25 PM
In a few decades, I am sure that the adoption of crypto will continue to rise. Of course, it also requires support for each individual (crypto user) to spread crypto to the world. We can start by introducing crypto to the people closest to us, then try to build connections and start making something bigger like a seminar on crypto or events about crypto. Of course it takes sacrifice in the form of money and energy. But hard work will not betray the results.
December 07, 2019, 04:02:06 PM
I doubt fiat would get fully replaced in the next 10 years, it's likely to be more than that. We could see more people using digital currencies over time but replacing something that the majority uses takes more time. Others are moving to different payment options but still a lot of people uses cash as there's still a couple of upsides to it.
but i feel sad for the people that didnt know how to use a crypto because they are the ones that will struggle when this prediction finally occured but i forgot that its only a prediction anyway haha .
In the future people who have troubles with cryptocurrencies could easily adapt as new digital currencies quickly pops up and maybe there would be one that caters to people who've been using fiat. December 07, 2019, 10:43:31 AM
It takes time and a lot of development, acceptance, awareness for this to happen and a decade is not enough to make it happen. And I think the technology era needs to come first, which is currently in progress before the digital era can take place.
Because this is the awareness of people using basic things like smart phones and personal computers. Because this will serve as our wallet in the digital era.
Because this is the awareness of people using basic things like smart phones and personal computers. Because this will serve as our wallet in the digital era.
December 07, 2019, 10:24:39 AM
i am with you op .predictions are just prediction and they are not absolutely true but i love the fact that they predict something good because they predict that cryptos will will overcome fiats .
Basically, predictions are also be known to be manipulative because predictions made by people who has a great influence to the public could possibly control the outcome of the market through the people to change their mind, whether to buy or accumulate and to sell their cryptocurrency which could impact the universal market price of it. Going back to the topic we have, predicting cryptocurrencies to replace fiat for me would not be completely possible, but we could make fiats to be cryptocurrencies, based on my understanding, fiats are government regulated money, and people's money needs to be regulated for the government to have their plans to be successful. Cryptos could be regulated if they want and could be somehow called, an entity that replaced fiats.
December 07, 2019, 06:25:54 AM
This is all we wanted to happen because being Cryptonians we are looking for the most effective and reliant in terms of payment system.
but the problem reality,that world will never live with technology itself just like gold that will remain as physical asset,Fiat will always stay the same.Yeah in the future Cryptocurrencies will be our main currency but also fiat maybe use in some offline dealings.
but the problem reality,that world will never live with technology itself just like gold that will remain as physical asset,Fiat will always stay the same.Yeah in the future Cryptocurrencies will be our main currency but also fiat maybe use in some offline dealings.
Wrong, cryptocurrencies will not be our main currency. The currency that built this planet for over 2000 years will remain intact because that's what business use and that's most likely what they will always use. The closest things will get is if the world "deletes" paper money. It will still be in USD, Yen, or euros though etc.
December 07, 2019, 06:25:00 AM
i am with you op .predictions are just prediction and they are not absolutely true but i love the fact that they predict something good because they predict that cryptos will will overcome fiats .
im not really into fiat honestly thats why i said those things above but i feel sad for the people that didnt know how to use a crypto because they are the ones that will struggle when this prediction finally occured but i forgot that its only a prediction anyway haha .
im not really into fiat honestly thats why i said those things above but i feel sad for the people that didnt know how to use a crypto because they are the ones that will struggle when this prediction finally occured but i forgot that its only a prediction anyway haha .
December 07, 2019, 06:21:26 AM
I am also optimistic that in the next few decades cryptocurrency will become popular, cryptocurrencies only need a triger so adoption can be carried out in all circles and hype around the world. At present the government is still ashamed to admit that cryptocurrencies are superior to fiat but I am sure many have researched the transition in the long run.
December 07, 2019, 06:14:33 AM
This is all we wanted to happen because being Cryptonians we are looking for the most effective and reliant in terms of payment system.
but the problem reality,that world will never live with technology itself just like gold that will remain as physical asset,Fiat will always stay the same.Yeah in the future Cryptocurrencies will be our main currency but also fiat maybe use in some offline dealings.
but the problem reality,that world will never live with technology itself just like gold that will remain as physical asset,Fiat will always stay the same.Yeah in the future Cryptocurrencies will be our main currency but also fiat maybe use in some offline dealings.
December 07, 2019, 05:40:21 AM
Ok gotta be honest: my opinion.
It's time to stop suggesting this is going to happen. If you consider the history of the world, its not going to just "convert" to bitcoin especially since there has been so many problems with it. USD/JPY/EUR will not just disappear and become "less popular" than bitcoin. That would literally create armageddon. The whole world will never all be able to use bitcoin exclusively and suggesting this anymore is ridiculous.
Not trying to flame anyone here but this topic needs to no longer be posted in my opinion. It's like reading a fairy tale.
this is like suggesting the world needs to convert their dollars to elon musk bucks or brookshire hathaway tokens because their stock did well one time.
You're not sane if you think something like this is going to happen anytime soon or maybe even ever at all. The world wasn't built on bitcoin for 2000 years.
It's time to stop suggesting this is going to happen. If you consider the history of the world, its not going to just "convert" to bitcoin especially since there has been so many problems with it. USD/JPY/EUR will not just disappear and become "less popular" than bitcoin. That would literally create armageddon. The whole world will never all be able to use bitcoin exclusively and suggesting this anymore is ridiculous.
Not trying to flame anyone here but this topic needs to no longer be posted in my opinion. It's like reading a fairy tale.
this is like suggesting the world needs to convert their dollars to elon musk bucks or brookshire hathaway tokens because their stock did well one time.
You're not sane if you think something like this is going to happen anytime soon or maybe even ever at all. The world wasn't built on bitcoin for 2000 years.
December 07, 2019, 05:33:03 AM
Overcoming government hurdles is a big if. Why would the government allow crypto instead of creating their own digital currency?
Quote
As we look to the decade ahead, it would not be surprising if a new and mainstream cryptocurrency were to unexpectedly emerge.
Contrary to the writer, I would be very surprised in there's a new crypto substitutes Bitcoin as the mainstream cryptocurrency. I don't see any scenario where this could happen. December 07, 2019, 05:25:36 AM
I always will not, and I will stick to that.
We all know that these cryptocurrencies are a great thing in the future since we would be able to transact money anonymously and the government will not be able to track us but the thing here is that they are also the ones that will make the decision hence ending up in my opinion that it will not happen since they will not allow it. They may be able to create their own cryptocurrencies since we are going to that but I don't think it will fully replace fiat and I don't think that banks will be useless in that time too.
We all know that these cryptocurrencies are a great thing in the future since we would be able to transact money anonymously and the government will not be able to track us but the thing here is that they are also the ones that will make the decision hence ending up in my opinion that it will not happen since they will not allow it. They may be able to create their own cryptocurrencies since we are going to that but I don't think it will fully replace fiat and I don't think that banks will be useless in that time too.
December 07, 2019, 05:20:35 AM
In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.
Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.
Source link here
Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.
Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.
It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.
Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts.
If it is true that cryptocurrency will replace FIAT completely, then banking will no longer be useful in the future. Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.
Source link here
Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.
Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.
It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.
Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts.
According to my logic, banks will make their own digital currencies as bitcoin competitors, because they need centralized digital money to keep the banks in existence.
December 07, 2019, 05:07:07 AM
im not sure, but it can be happen. who know?
when some country experiencing a slump in economic, in their fiat, they will do like extraxt the value, and the price off stuff will following it rule. but i dont know if they often experiencing deterioration of financial problems, maybe they use crypto silently.
when some country experiencing a slump in economic, in their fiat, they will do like extraxt the value, and the price off stuff will following it rule. but i dont know if they often experiencing deterioration of financial problems, maybe they use crypto silently.
December 07, 2019, 05:03:02 AM
Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.
And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.
And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.
Read the report itself my friend. This is just what they are calling a decade ahead kind of prediction. And they note that right in the beginning, all the predictions did not happen as they thought. For example when fiat came out they thought gold would lose value by 1980. It has gone up and up since then. They also thought internet and remote work means everyone works remote, no more physical offices.
So yeah, they probably expect 10 years fiat replaced by crypto also won't really happen.
December 07, 2019, 03:21:33 AM
To be honest, it's too difficult to say about this thing, To get replaced fiat, you have to create a lot of authentic platforms which might be acceptable to the mass people, I am not going to discuss about the research authenticity, I just want to say about the mass adoption, Bitcoin and Cryptocurrency are not controllable so the price is also like this, And in this way, people are getting afraid of using Bitcoin as well as cryptocurrency anymore, It's a harsh realistic issue for cryptocurrency. so unless the stability of the price of the cryptocurrency, no one says about the bright future of Bitcoin along with Cryptocurrency.
December 07, 2019, 03:13:47 AM
no one knows the future, it's likely that all countries will accept bitcoin in the future, or they will be left behind, when developed countries use a new technology, other countries will follow it, some countries have thought about blockchain technology, only a matter of time.
December 07, 2019, 03:00:10 AM
Digital currencies will not replace states' cash even in the distant future. With the advent of stable coins of various states, the use of cash may decrease slightly, but the need for cash will still be large, especially in rural areas. It is also worth considering that many people generally refuse to use digital currency in any form for various reasons and no one will force them to do this. If the number of barter transactions increases, the state’s economy will fall and the state will be forced to have cash at the same time.
December 07, 2019, 12:08:10 AM
I am predicting that eventually digital currencies can be replacing the paper money but not totally wiping it out. This is just similar to the radio and TV story. When TV came, people thought that radio can be dead and be totally replaced but what happened is that both are now co-existing though there is no question that TV is getting the most views or the bigger audience share. Now, when I said digital currencies that certainly include the ones to be introduced by many central banks and this can be the reason why paper money will slowly decrease its use and circulation. Soon, we might be seeing this in China when the government in there will be launching its state-controlled and sponsored cryptocurrency. Sadly, this is not because of the real cryptocurrencies we now have all because admittedly massive adoption for this industry is getting harder each day and in my view it can be taking decades before we can convince majority of our people to make the big switch. Still, I am hoping that am wrong, anyway.
December 06, 2019, 11:25:33 PM
This is highly unlikely to happen, at least on the next decade. It might take at least few more decades before we completely replace fiat. Though I doubt that crypto currencies will completely replace fiat, but I am pretty much sure they will be used side by side in harmony with crypto currencies becoming the mainstream.
Crypto currencies, especially bitcoin won't be able to replace fiat. Lets be honest here, bitcoin does have a lot of flaws when it comes to using it as a mainstream currency for daily transaction. Do you really think the network will be able to handle millions of transaction with minimum fee easily when everyone uses it?
talking about decades, actually has started from the process every year before, the process is always continuous to reach the point of trust, development, and accountability. Btc is unlikely to be in harmony with fiat as a currency, there must be a solution to at least control every fluctuation in prices to be slower. The network will not be able to handle everything in a short amount of time, but will always experience a system improvement test in every consensus. Crypto currencies, especially bitcoin won't be able to replace fiat. Lets be honest here, bitcoin does have a lot of flaws when it comes to using it as a mainstream currency for daily transaction. Do you really think the network will be able to handle millions of transaction with minimum fee easily when everyone uses it?
December 06, 2019, 11:20:28 PM
I believe its really going there. But the replacement of fiat I guess is a longer process. Bitcoin will definitely grow and if not a replacement soon for fiat but an additional option for currencies. Adoption of crypto currencies is very crutial and expensive somehow as there are still many rural areas who even not had an electricity.
It is a long process where a decade is not enough to make it happen. It will surely to happen, even if bitcoin won't make it to replace fiat, at least it can help us to become an alternative option for us to use it to make transactions.
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