Topic: In the next decade, BTC and digital currencies will “fully” replace fiat? - page 5. (Read 953 times)
December 06, 2019, 10:22:02 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.
December 06, 2019, 08:08:25 PM
Cryptocurrencies might be used as a mode of payment since our technology is advanced but it doesn't mean that we will be replacing fiat. Fiat will always play a vital role in our society and despite the existence of blockchain technology, I believe that people and the government will always prefer to use it in important transactions.
December 06, 2019, 06:35:18 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?
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, 03:44:27 PM
Some countries are already 80-90% cashless, but no countries is nowhere near replacing fiat - in fact there's probably barely a few people in this world who live 100% on crypto without ever touching fiat. There's no way it will dramatically change in the next decade, so this is just another sensationalist and misleading article. Bitcoin community was talking about fully replacing fiat for many years, but the actual progress is incredibly slow.
December 06, 2019, 03:23:01 PM
I am sure that in the next decade fiat cannot be replaced by bitcoin and digital currency, because people in this world are still use fiat
more for conducting financial transactions. Moreover, the government is still not fully legalized cryptocurrency. If it is true that bitcoin
and digital currency will replace fiat, it should take even longer, it can't achieved only in a decade. That is too short a time in my opinion,
and the government is not ready to accept decentralization which is contrary to the principle of centralization adopted by fiat. More realistic
if in the next decade bitcoin and digital currency is the focus of adoption in the lives of the people all over the world. Because the number
using bitcoin and digital currency is still small compared throughout the people all over the world.
more for conducting financial transactions. Moreover, the government is still not fully legalized cryptocurrency. If it is true that bitcoin
and digital currency will replace fiat, it should take even longer, it can't achieved only in a decade. That is too short a time in my opinion,
and the government is not ready to accept decentralization which is contrary to the principle of centralization adopted by fiat. More realistic
if in the next decade bitcoin and digital currency is the focus of adoption in the lives of the people all over the world. Because the number
using bitcoin and digital currency is still small compared throughout the people all over the world.
December 06, 2019, 03:10:47 PM
Deutsche bank is doing research! My oh my 
I hope you don't put too much trust in them because this is the bank that will lead the next financial crisis.
Deutsche bank stocks used to be worth 30 EUR 4 years ago and now are worth 6 EUR, scoring losses every single year. At least they have some good ideas like this attempt to try cryptocurrencies because without some risky investments they will be gone in the next 3 years.
I hope you don't put too much trust in them because this is the bank that will lead the next financial crisis.
Deutsche bank stocks used to be worth 30 EUR 4 years ago and now are worth 6 EUR, scoring losses every single year. At least they have some good ideas like this attempt to try cryptocurrencies because without some risky investments they will be gone in the next 3 years.
December 06, 2019, 02:57:32 PM
Just because it's coming from a bank does not guarantee that something like this will happen in the future.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.
The bankster criminals have financed and promoted 100+ years of near constant war.
This is destruction of life, the planet and valuable resources. Virtually making the planet unihabitable.
You really want the future world crypto currency to work hand in hand with these crooked banksters?
Think again,
Bitcoin doesn't need permission from these crooks.
Bitcoin doesn't want permission from this destructive global corruption.
Bitcoin is rewritting the paradigm of human culture to being friendly to life on this planet.
The last 100 years of fiat currency corrption have not been friendly to mother earth.
December 06, 2019, 02:56:31 PM
Replacing fiat with digital currencies would not actually be into existence. Each of those currencies have their own importance. Cryptocurrencies can't perform the activities which are carried forward by fiat currencies so they can hardly overtake fiat over cryptos.
Fiat currencies are been managed by the centralized governments, and none of the government from any country would allow the digital currencies to overtake their centralized fiat currencies. Digital currencies are hard to keep a track upon and it might never allow the governments to impact taxation on the individuals holding or earning the cryptos so it might not be possible to replace fiat with digital currencies. They both might work constantly.
Fiat currencies are been managed by the centralized governments, and none of the government from any country would allow the digital currencies to overtake their centralized fiat currencies. Digital currencies are hard to keep a track upon and it might never allow the governments to impact taxation on the individuals holding or earning the cryptos so it might not be possible to replace fiat with digital currencies. They both might work constantly.
December 06, 2019, 02:53:02 PM
Nope, i don't think so...digital currencies would definitely be the main stream of making payments but it will not be with bitcoin. In as much as we are all enthusiasts of the adoption of bitcoin we must face the reality of bitcoin not being ideal as a mode of payment looking at its transaction speed. The entire world can't operate with this folks, that's the truth.
December 06, 2019, 02:48:07 PM
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.
But digital currencies replacing fiat doesn't altogether mean that bitcoin or any other crypto will be replacing the fiat currencies. Maybe in the coming years the central banks of the world can make an alliance and then they will form a digital currency for the world and that would become what US Dollar is as of today and if this happens then it will surely be the end of fiat currencies as we know it. 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.
December 06, 2019, 02:37:02 PM
Just because it's coming from a bank does not guarantee that something like this will happen in the future.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.
December 06, 2019, 02:36:55 PM
I agree with others that replacement within a decade is highly unlikely. Some countries might experiment with digital currencies, adopting the existing ones one way or another or making their own national currencies. But come one, the scalability problem is not only related to Bitcoin, but it's also pretty much a flaw of any blockchain. Until this problem is tackled, I don't think cryptos can change world economics. We have to wait and see how it goes, and someone has to offer easy-to-use solutions so that people can go to grocery stores and buy food with crypto without doing anything more difficult than what they do nowadays.
December 06, 2019, 02:24:52 PM
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.
To see a world where paper currency is fully replaced in a decade's time is impossible, you might see that in the developed countries but you have to take into consideration the poorer nations and how on earth do you think that will happen on a global scale, it is an impossible dream to imagine that the entire world will transact digitally and it is not going to happen in a century. The bitcoin market is just ten years old and it will take more than a couple of decades to reach everyone let alone dreaming of having a world dominated by digital currency.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.
One more thing, becoming digital and becoming crypto based are entirely different view of point and it is an entirely different topic altogether.
December 06, 2019, 02:19:37 PM
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.
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.
Predictions are not a real future. Yes, Bitcoin is a very promising digital asset that can change the financial sector and economy. However, the adoption depends on the governments, but i dont see that governments wanna accept digital currency and replace fiat money. Accepting goes very very slow
December 06, 2019, 01:52:04 PM
I'm sure fully digitalised fiat currencies will exist in some countries.
As long as large amounts of people exist so will countries and governments and so will tax. They will charge in a currency they control and also pay out in it. In many a place well over 50% of people are employed by the government and others will be on some form of welfare so that's an extremely large captive market that'll never go away.
That means real crypto remains a sideline albeit an ever growing one.
As long as large amounts of people exist so will countries and governments and so will tax. They will charge in a currency they control and also pay out in it. In many a place well over 50% of people are employed by the government and others will be on some form of welfare so that's an extremely large captive market that'll never go away.
That means real crypto remains a sideline albeit an ever growing one.
December 06, 2019, 01:51:33 PM
So in my opinion, and from the point of view of one of the most developed countries in Europe, Sweden, electronic payment changes primary money, which can only be good for the world, and that Sweden will throw out its coin.
And the crypto world and Bitcoin are in my opinion irreplaceable, they are simply the best payment method and most importantly in the long run.
I think as long as there is a world, there will be bitcoins
And the crypto world and Bitcoin are in my opinion irreplaceable, they are simply the best payment method and most importantly in the long run.
I think as long as there is a world, there will be bitcoins
December 06, 2019, 01:34:55 PM
Now the volume of turnover of electronic money is growing, which are the same national currencies of states. Cash turnover will decrease over time, but it will not disappear at all. In general, national money in the form of electronic and cash will exist as long as the state exists. National money of states is an invariable attribute of the existence of each state. Without them, the economy of states will fall apart.
States will continue to actively use stable coins, which will represent all the same digitized currency of the states.
A decentralized cryptocurrency will simply occupy its niche as another type of many means of payment. It will not have a dominant role among other means of payment. A decentralized cryptocurrency can go in society only along with the national money of states. Everything else is just pure fantasy.
States will continue to actively use stable coins, which will represent all the same digitized currency of the states.
A decentralized cryptocurrency will simply occupy its niche as another type of many means of payment. It will not have a dominant role among other means of payment. A decentralized cryptocurrency can go in society only along with the national money of states. Everything else is just pure fantasy.
December 06, 2019, 12:36:45 PM
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.
10 years would not be enough to fully replace the use of fiat currency but let us be realistic here. If we are going to jump into a digital currency as means of trading in our daily living that would not be bitcoin, government won't let that happen coz we cannot live freely as the government says and they should continue too.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.
December 06, 2019, 12:32:57 PM
Fiat worlds is has been gearing towards the end for the last couple of years. There re reports over 90% of payment are electronic payments in Scandinavian countries. However, this is still mostly centralized credit cards and payment processors. BTC and crypto is just the next evolution of that.
Behind all the credit cards and electronic payments, the base currency used is the fiat. The use of plastic cards (Credit /Debit cards) are not actually replacing fiat but are facilitating the fiat currencies.
Bitcoin, on the other hand is pure digital currency which is not backed by paper money. It will take some time before we see pure elimination of fiat currencies.
December 06, 2019, 12:24:44 PM
This has been already discussed so many times in here but the majority of those replies saying that it is impossible to replace the fiat into cryptocurrencies. The main reason I think that probably because of the decentralization system that crypto has. The government in all countries has its own currency and also has designated value on its currency. Think it over if we had all the same value of money, probably there is no currency trading happen. Nevertheless, it will probably happen if cryptocurrency is a second alternative digital currency and partnered with local fiat.
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