Topic: Please, we should not totally eliminate fiat currency - page 10. (Read 27244 times)
::)Although we really what will happen in the future currency, but I believe there will still be fiat remain for some purposes, but now technology are preparing us for what will about to takes place during that time and that is..digital or virtual currency which is in every transaction has something to to with electronic and we are now slowly being oriented for that.
It is totally out of place to expect crypto to replace fiat totally,I don't think that will happen in decade to come.As far as am concern, all we need is for crypto to be generally accepted and to be make use of.
Yes, Fiat currency is major currency we have now which we are using them on our daily basis, Cryptocurrency and Shares other sources of income where we can make fiat profit when their prices start increasing, so we should not forget about the Fiat currency.
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
Fiat currencies are not going to be eliminated, if there is anyone that will be eliminated among the two, then it likely to be cryptocurrency. But none of them would be stopped, they will be around and you will use whatever you want to use. Although cryptocurrency seems like it’s going to be quite a big competition to banks in the future, if people decides to be mainly using it for their transaction s.
I don't see the point in Fiat money leaving our world. Cryptocurrency and Fiat money should work together as one !
From time immemorial, money has undergone various metamorphosis. So whether you like it or not, time will one day be up for the fiat currencies you are so much used to. Nothing lasts forever, and the fact that virtual currency can do better than fiat means we will say goodbye to fiat one day.
I do not know how this going to be possible: that we eliminate fiat completely. No government would sit down for their local currency to be thrown away because of crypto. We will do ourselves good if we do not expect some of these things to happen.
Eliminate your worries, fiat is only a payment instrument, and even if the cryptocurrency really becomes a currency in the future, you can also use cryptocurrency like you use fiat currency, and even that is much easier and profitable.
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
It would still take too long to fully eradicate the use of fiat currencies, as we still depend on it while being on a process of fully modernizing the technology. Yet, if high-end techbologies were implemented on rural places, there's possibility that the eradication might happen as early as possible. Rural areas and the internet connection is the only problem we all have, hence not all people worldwide was connected.
Yes of course, fiat money should not be eliminated for this is the best way to do transaction locally. And besides, there are digital currency already being accepted in some.of the establishments but it will not apply to all the consumers because only are preferred to this. The application of digital currency is not that widely spread over the establishelment so it will be unlikely to do good on doing transaction with it .
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
Its hard to eliminate the fiat cryptocurrency because its our traditional money and most of people in the world always use and I think even the government will not agree on eliminating fiat currency. Internet is the thing that we need to have if we want to use cryptocurrency so that without it we can't transact to each other. Yes, bro, it is impossible. Even when the cryptocurrencies are used widely and everywhere, the mankind will need fiat. The traditional money will not vanish.
Much like how the invention aeroplanes did not eliminate water transports like ships, vessels etc. It just give shipping industry a different focus.
It is safe to look at cryptos this way. With the existence of crypto, you expect a slow increase of circulation. When at a certain point, say 10% of world are using crypto as a medium of exchange, that will be the time fiat would slowly take a back seat.
But fiat is not expected to disappear altogether. It will probably play a different role in the financial world. It may even probably become the alternative form of wealth measurement.
It is really hard to say since we are technically into the 5th industrial revolution already. With the influence of Artificial Intelligence and variius sophiscated technology... the economy may even be partly run by AIs.
Who knows...
It is safe to look at cryptos this way. With the existence of crypto, you expect a slow increase of circulation. When at a certain point, say 10% of world are using crypto as a medium of exchange, that will be the time fiat would slowly take a back seat.
But fiat is not expected to disappear altogether. It will probably play a different role in the financial world. It may even probably become the alternative form of wealth measurement.
It is really hard to say since we are technically into the 5th industrial revolution already. With the influence of Artificial Intelligence and variius sophiscated technology... the economy may even be partly run by AIs.
Who knows...
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
You should not worry about fiat currency. It will always exist as long as there are various states on our planet with their own financial and economic interests. States will never be allowed to replace their national currency with a cryptocurrency. This is impossible in practice, since the cryptocurrency is not able to support the economy of any state.
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
You should not worry about fiat currency. It will always exist as long as there are various states on our planet with their own financial and economic interests. States will never be allowed to replace their national currency with a cryptocurrency. This is impossible in practice, since the cryptocurrency is not able to support the economy of any state.From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
I totally agree with you. The world need fiat currency to maintain the economic system all over the world. A country can not be run by something that they can not control.
Eventually, it will disappear.
But it'll take long to reach that position.
And in the future, if everything is digital, and we loose energy/power.
What happens?
It's interesting...
Still, society today is not ready for crypto only.
But the future is coming faster than ever...
But it'll take long to reach that position.
And in the future, if everything is digital, and we loose energy/power.
What happens?
It's interesting...
Still, society today is not ready for crypto only.
But the future is coming faster than ever...
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
You should not worry about fiat currency. It will always exist as long as there are various states on our planet with their own financial and economic interests. States will never be allowed to replace their national currency with a cryptocurrency. This is impossible in practice, since the cryptocurrency is not able to support the economy of any state. 
From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
I think it is very difficult to completely eliminate fiat because many people are used to it and it has been very long. We should have thought that crypto would make it easier for people to trade, rather than forcing it to become an official currency, which would make you feel more positive at the beginning. invest in crypto or wait for their prices to riseFrom what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
I think it is very difficult to completely eliminate fiat because many people are used to it and it has been very long. We should have thought that crypto would make it easier for people to trade, rather than forcing it to become an official currency, which would make you feel more positive at the beginning. invest in crypto or wait for their prices to riseFrom what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
Fiat and Cryptocurrency both will exist as both have their own advantages and disadvantages. Where their is no internet and the country where cryptocurrency is not legal fiat will be working. Even all country will be having fiat currency but its uses will become less when cryptocurrency will be in main stream.
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