cryptocurrency as we know it today will never replace fiat. because cryptocurrency is two things:
- bitcoin which is the only currency that works fine but it is never meant to replace fiat so it will never do that.
- altcoins which are not even currencies to want to replace fiat and for many years we will remain in the same market where people are only interested in pumping altcoins more than anything else because of the money they can make from it.
Topic: Is cryptocurrency ever going to replace Fiat? - page 5. (Read 964 times)
Would be interesting to see the statistics of number of transactions paid in crypto, compared to regular. I guess, this percentage is still so small that it will take a very long time for crypto to replace the notes. Also, all the countries would have to change their policies towards cryptocurrencies. And very poor countries are very far from buying bread with bitcoins. Therefore, there’s a long way to go
You are right, then, to apply technology everywhere to pay in all industries most likely will take even not years, but a decade!
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
I would like to say my point of view, it will not replace FIAT in all matters even a hundred years of promotion, this is because FIAT is a government assets backed by GOLD, it is the only currency that is backed by the government. Talking about crypto, yes it can be a payment option only for most transactions only, but it does not mean it will replace FIAT in all sense.
Crypto will not be able to replace fiat currency, because crypto is the user who knows that is still less than fiat currency users. so that whenever the crypto can't
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
for the near future I don't think that is possible, because after all each country has fiat currency protected by law. maybe we will need more than a decade to make this happen, but it is likely that it needs major changes, a kind of revolution for example.
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
Yes, I think so, but we cannot see this will happen in the short time because we need each government from all country to accepting cryptocurrency as a new currency for their country. As you said, we need an internet connection to access cryptocurrency, and without that, the small country cannot use cryptocurrency. So it needs time before this could happen in the future and I think the governments need to build more infrastructure so their people can easily to access the internet.
The psyche of fiat is engrain in the mind and consiousness of populace all over tge wirld, it may be pretty difficult for large pecentage of people who transact daily and engage in economic activities to totally do without fiat. But I believe future of transaction is not fiat but cryptocurrency payment system!
With all of the technological development and the habit of people who are changing to choose on online life, including on their daily transaction, there is high possibilities that cryptocurrency will be replacing the current fiat currency.
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
It's possible to be honest. But I think fiat money and cryptocurrency should still cooperate and operate. We can't live the other one while making great things with the other one. Since there are a lot of companies that accept bitcoin as a payment which is a great step for all of us and the companies.
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
I don't think it will totally replace fiat, as cryptocurrency is digital and you can't literally pay with it everywhere, as you mentioned there is no internet in most of places. Although may be in 100 years or so everything is possible, but I doubt it. Many countries government will fight for fiat money to exist
cryptocurrency is indeed a tool for online payments but its nature cannot replace cash or fiat. because to make cryptocurrency worth is to convert it to fiat. so it remains essentially turning into fiat. and the outline of cryptocurrency as a tool.
I think if crypto is difficult to replace fiat, don't be too hopeful, because there are still many people who don't understand crypto. Crypto is still considered rare and still takes time to develop and succeed.
This is true, for certain circles, they cannot enjoy this crypto technology, because it is indeed limited to the charity.
but it is not surprising that cryptocurrency today around the world has become a good spotlight and will be able to make very good developments in the future.
but it is not surprising that cryptocurrency today around the world has become a good spotlight and will be able to make very good developments in the future.
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You are right, fiat currency will not replace the real currency. Fiat will be helpful only for alternative payment system not for other purpose but this is a wonderful technology which will be very very useful in this generation. Crypto might not be popular today but in future it will rule the world.
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
this explain pretty much everything on surface level.
I believe that bitcoin will completely replace Fiat. As much as I strongly disliked the cryptocurrency, but it does not receive this extension, it simply does not give to do of the state.
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
If it's today then it won't be possible, cause the infrastructure isn't fully ready and spread globally. but when the infrastructure ready, then there is possibilities that people could choose cryptocurrency over fiat money. 
Cryptocurrency is the future of all payment method due to the decentralized nature which grants financial freedom and power to the people. However, for it to replace cash or the Fiat, it will take years of awareness creation. Up to date, some people do not have access to internet whereas others do not know how to access it.
Nope, most likely cryptocurrency is used as an alternative payment system from fiat. This will also depend on the regulations of each government to accept or not to accept cryptocurrency. Untill now, government regulation is an obstacle for cryptocurrency to grow and be recognized by many people. For people living in countries where using cryptocurrency is prohibited, there will be a lot of media or information that expresses negative information about cryptocurrency.
In my opinion, fiat will be replaced by cryptocurrency but we need a long time to see this thing going happen. Because now crypto did not get government's agreement.
While cryptocurrency might be the future I dont think it can replace fiat. Fiat has been here for too long and has establish a lot just to be replaced by something new and fresh. Although I believe cryptocurrency will become an alternative instead of it replacing fiat. Fiat and cryptocurrency will go hand in hand one day.
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