Topic: Its time to go in crypto lets leave fiat cutrency - page 5. (Read 1276 times)

I agree and want to believe that this is the whole essence of Bitcoin, hedge against Fiat inflation. It is always a wise decision to invest in bitcoin and other major Alts especially when the market has seen this percentage of dip and for some cryptos, more than -50% dip from their ATH prices however, I do agree that purchasing daily needs with Bitcoin or other Alts for that matter is still not completely possible so we still need the fiat fo such.

Lol, experience is the best teacher, I bet what you bought in 2018/19 if you held without selling them, they would have made you good profit this past weeks of the market bullishness. It is good to have stablecoin set aside for times when the market is down, but holding just stablecoin in your hardware wallet will not increase in price except you are staking them.

When the market is down there is no reason to sell, (the good ones of course) those are the mistake some of us has made because of lack of understanding, but things have changed, the most important thing is hold assets that are worthy and can be around for long term.

Fiat currency can never lose values totally but the problem is that to extend if their is crisis between countries and people vacates from one geographical environment to another at such moment fiat currency will hard to cash out because of inability of banking operating to release fiat for purchase, but a situation where by you have Bitcoin you can as well purchase good's or food items with bitcoin for a country that is civilized and accept Bitcoin for exchange of transaction, Bitcoin will be available everytime both at both for war others

I feel like the current fiat finance system is quite similar to doge coin in a way, If the controller of the project/goverment wants to print more currency he can do so as he pleases. But as for fixed market cap coins i feel like they're the ones that actually make this system fair because you can't print more of it out of thin air. People are slowly realising that the current fiat system is flawed and has been all this time. As everything goes moves towards crypto it's important to take the time and find some projects that you're really into and invest on early. I've been eyeballing these two projects myself for quite some time now and was wondering if anyone has heard anything about them ? First one is $ENGN who has a really unique blockchain implementing system that allows non-blockchain games to be implemented on the blockchain without the need of rewriting the whole base code. Plus they're releasing a new game soon that looks like Fortnite on steroids judging by the gameplay trailer. The second one is Lunafi which caught my eye because of their plans to bring safe gambling to metaverse with Yield farming which gives you annual rewards every time someone makes a bet on #Lunafi. I feel like metaverse is going to explode at some point better keep an eye on all of it's corner earlier. 

As always DYOR!

Crypto was the long wanted option for the transaction among huge people.But due to the huge variation in the price of bitcoin.Some country feared to take it as their fiat.Now due to war again huge dump in the bitcoin price.The only way to reduce such thing is to stop the war.When the war was stopped, their was huge pump in the bitcoin price.Holding till the pump is essential to get huge profit.

It is very early to leave fiat and get into cryptocurrency completely. It is possible to have a living access with cryptocurrency alone, but the same isn't possible in all location. The war have made people to look upon cryptocurrency, as the inflation with fiat keeps rising. In words it is possible to say crypto alone is enough, but the reality differs.

Maybe someone is ready to switch to using only cryptocurrencies, but the vast majority of the world's population is not ready and I'm not sure that the situation will noticeably change on this issue in the near future. Now, for example, in the war zone between Ukraine and Russia, in the temporarily occupied territories of Ukraine, mostly only cash goes, because the banking system is malfunctioning. Periods of natural disasters, man-made disasters, even military events happen quite often, and in this regard, high technologies fail. This cannot be ignored and cash must be in circulation as the easiest and most reliable way to make any transactions.
Cryptocurrency, as we have repeatedly seen, can walk in society only along with the national currency of states. Everything else is just fantasy.

I'd do it if the level of crypto acceptance was satisfying.

As long as I can't rely on crypto at every point of life I won't be able to live without fiat. Imaginary situation, you drive a car to a neighboring town and it breaks. You call for assistance, they mainly take cash, sometimes they will accept a card but from my experience it's rare. They'll rather write you a bill and wait for you to wire money. Same with mechanics. They only take cash or card and you with your bitcoins can walk home or call a friend to pick you up. That's the reality of going all crypto.

The world is not ready to give up fiat, fiat is still part of the world. We still need fiat to pay our bills, go to the market every day even our salaries are still paid in fiat because nobody wants to take their wages and then their value will drop when the market volatility.
Currently, crypto are used more as a tool of speculation than as a means of payment, so it will take longer to mature. Should not be too hasty.

Inflation is on the other side of the corner, if fuel goes up all the other product prices will go up either.

Sadly still easier for people to move fiat than spend cryptos, I mean, you can't pay the bus or the uber with cryptos, and there is a lot of things that you can't buy with cryptos, for that we need a massive adoption.

Crypto is getting brighter while fiat is getting more and more problematic, the latest thing is what happened in the USA where inflation always occurs so that it makes public trust to save large amounts of money to be afraid, crypto is always dynamic and has the opportunity to skyrocket so it is feasible to switch fiat to crypto.

In 2017, I went in all in crypto, by 2018/2019 I was already broke  with threat of eviction from my landlord. Last year, I bought some hardware wallets to save some stablecoins for a day such as this and it has been paying off. I am not going to sell my crypto assets at loss until I lambo again with them.

We cannot deny that our world is in the modern and new generation and when it comes to the future there is a possibility that all transactions will be cashless.

Especially since we are still in a time of the pandemic. So many are taking care now to get infected because we can also get infected with the disease by holding on to MONEY (FIAT) because we don't know who is holding on to it before it comes to us. And there is also a big chance that our investment will grow more if we use crypto because there is a chance that the value of crypto will increase as long as we do research and study the crypto well before investing because there is also a big risk of bankruptcy. invested in cryptocurrencies.

But there are also many things to consider before becoming a cashless society. First of all, the people in the mountains or provinces are not familiar with the use of modern technology and do not know cryptocurrencies. Second is the Government because the cryptocurrencies have their own bank called a crypto wallet, and it has no physical figure and it is used in different parts of the world so the government has no leverage and tax revenue on crypto. Unlike a bank, that benefits the government a lot and also pays a lot of tax.

It's of the risk side going into crypto fully without having something else to back it up(fiat) when crypto goes into the blink(zero). The Crypto future is unpredictable. You need both in case the unknown happens, you will have what to fall back at.
In our daily lives, we make more use of fiat than crypto. Crypto is not widely accepted, there are things you can't buy crypto. Abandoning fiat and focusing on only crypto means you do not intend to survive.

No, I don't go with you.
Yes, Cryptocurrencies adoptions are quite growing by now but not all corners are accepting it, they still preferred fiat money. If we push this to be going, we are likely taking more risks. The moment will come sooner but moving it now to crypto leaving fiat, wasn't the best thing to do. It wasn't the time yet. I disclose to what happens to Russia and Ukraine, not enough reason why we have to fully switch. Banks and many establishments are still accepting fiat money unless they are not as it leaves us no choice.

In practice, you'd probably have to live 'off-the-grid' because utility companies generally don't accept crypto yet, but then that's really problematic in some jurisdictions.  Because they claim you aren't abiding by certain health and safety or environmental regulations for how you'd handle things like electricity and waste disposal, some nations effectively make it illegal to live off-grid.  It's a pretty huge decision to isolate yourself from the rest of society like that. 

As much as you want to totally transition from fiat system to cryptocurrency, there are still a lot of things to consider. Not everyone is ready for this conversation since not all of us are capable of doing so. In addition, fiat and crypto exist for a reason. These two are completely different from each other and has their very own purposes to take care of. If you can abandon fiat for good, then good for you. But unfortunately, other people can't do the same thing instantly as much as they want.

It's good to have crypto as an alternative option aside from fiat. If things go haywire in fiat system, you can just switch to crypto because you have a back up. In case sanctions happen, you can freely use your assets because it won't frozen by central organization. However, this has its advantages and disadvantages. If someone is to switch completely and ditch fiat, he must be aware and should welcome the risks that come along with it such as price fluctuations. You see, living in crypto isn't going to be rainbows and sunshines because it is volatile. Some days you will have so much, and there would be days you could have so much less compared to the amount you originally owned. In addition, transaction fees and processing fees are not really much consistent. And not every establishments really openly accepts crypto payment methods.

Someone must weigh the pros and cons before doing so. Otherwise, he might just regret it. After all, i still believe that fiat and crypto can coexist. There shouldn't even be a competition actually against each other because each serves their own purpose to their target market.

This is going to take a lot of time yet still. I’m not saying I’m against this plan, but it’s just not feasible yet, it’s going to take time as Rome wasn’t built over night. Also I’ve got some need for you, 10 doge coins is never ever going to be worth $500,000 lol. Bitcoin was and is still the number one coin to own and that’s not going to change anytime soon either.

Right now the most affected by the war would still be the Ukrainians and the Russians. There is no harm in converting some of your assets into bitcoins, but going all in would still be pretty sketchy at this moment since the world is still reliant on fiat currencies. You would find it hard to buy necessities using bitcoins at this point, and it's mainly for storage of value too. It's a smart move for keeping assets, but somewhere down the line you would need to convert to fiat if you want to buy some thing still.

Yea no, that's a dumb idea. Even if crypto adoption was to increase, I still think fiat being left behind wouldn't really happen, or well, the government wouldn't exactly let it happen. Yes, Crypto adoption may help in trying to make usage of crypto in most expenditures happen, but in the end the centralized fiat would probably be improved upon and still be a top option when you consider convenience in the future. Not to mention that in the current scene of things, merchants who accept Bitcoin are way too little, not to mention most of them are big companies instead of the daily necessities type of stores.