Please, we should not totally eliminate fiat currency - page 13.

jonaire99

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Quote from: PaulRobertT on October 21, 2018, 09:16:01 PM

don't just thinks for yourself,think for those peolpe who live in rural area, where is lack of computer and internet, what they do if there is no fiat currency, They can not exchange by bitcoin or other cryptocurrencies

You're right sir, in fact majority of the people are not yet cyber literate and others has even no access on internet. I think it will take time before all of the people become good in online trabsactions. These people still prefers fiat over cryptocurrencies because they don't have to transact online to make the fiat available.

ChandraGold

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Fiat currency is what we need to maintain the global economic system. From my point of view, even cryptocurrency has a lot of advantages, it still can not become an official currency and we also can not eliminate fiat currency.

nicster551

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Quote from: Sama517 on August 30, 2018, 07:33:41 PM

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.

Of course, we can't do that for now because everybody is still using FIAT and those people who are saying that we should eliminate it because they just want their coin to pump and get a lot of money from it. Greed talks here.

Santoshi_my_God_

newbie

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Quote from: PaulRobertT on October 21, 2018, 09:16:01 PM

don't just thinks for yourself,think for those peolpe who live in rural area, where is lack of computer and internet, what they do if there is no fiat currency, They can not exchange by bitcoin or other cryptocurrencies

In my opinion if people stay in crypto market for long time and do not quit, the investment cap will not decrease and I hope due to this the price will go up but never down. You are right patience is required for staying crypto for long time. Other thing is trust and belief. If people believe crypto they will invest their money and the demand for crypto will increase and so the price.

deppil

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Quote from: sirminesalot on October 31, 2018, 08:25:16 AM

Quote from: realcrypto on October 30, 2018, 01:57:59 AM

No time that fiat will totally be eliminated in the world, cryptocurrency may dominate in the developed countries but it will be difficult in developing and underdeveloped countries due to some necessary infrastructures like internet that may not be available.

yes maybe developing countries will use fiat money more because fiat money has become a daily necessity for their people. but if the developing country is able to do so it will definitely add benefits to the country itself.

Nope I think even in developed countries they have their own rules where the government will always keep fiat as the main currency. bitcoin is just a foreign currency. even though its use is not prohibited but of course there will be restrictions such as rules and regulations that govern it. it's impossible for fiat to be eliminated

aeternus

sr. member

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Quote from: zoeylee on October 23, 2018, 01:45:18 AM

Yes, there are countries that are outdated in terms in technology. Like the adaptation of crypto currency, so they need to used fiat for their modes of payment.

I do not know what the technology has to do with anything, all the countries around the world are using fiat in one way or another and it is unlikely that cryptocurrencies are going to change that, but cryptocurrencies will allow people like us that are using the technology despite not being fully functional to avoid fiat if that is what we desire.

HarmonyA

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We are not the government behind fiats, cryptocurrency is still at it infant state. Fiats have been there for us despite it challenges. The illiterate populace can't use crypto, therefore crypto and fiats will work together.

djselery

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I think we can't eliminate fiat currencies, even if we like to eliminate them. The usability of cryptocurrencies around the world is still really limited, and it is mainly used online not offline in the majority of countries. In addition, most countries and governments stay supporting only the fiat currencies, right now.

MathiasCrow

newbie

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Fiat currencies will remain, two main reasons come to my mind.
First of all, some countries will continue banning Crypto. Even if people of these countries will adopt Crypto and find ways to avoid this ban, the government will continue to issue and support fist money.
Further, Crypto works on a different principle than fiat money. Fiat leaves a lot of opportunity to cope with economic problems - for example, issue more money, arrange devaluation, etc. Crypto is very limited in this aspects and focuses on completely different features like anonymity and transparency. It is better for common people, but not that great in terms of control. Thus, Crypto should be considered not as a substitute for fiat money, but as a complementary element of the global economy.

leea-1334

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Temporary forum vacation

I do not see what you see, strangely. Everyone almost in this forum still talks about dollars so clearly they want their profits in dollars, rather than Bitcoin or other crypto. Alt holders especially cannot wait to turn their bags of tokens into dollars.

But watch where you tread. Fiat will be eliminated on its own without our meddling. US dollar is strong today but it is weakening every day and every year. Look up US debt and you can understand.

Gheka

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DGbet.fun - Crypto Sportsbook

Quote from: smile1218 on October 31, 2018, 08:47:56 AM

Quote from: Sama517 on August 30, 2018, 07:33:41 PM

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.

Of course the fiat money will not be eliminated it will take more years to be eliminated. If the acceptance of crypto currency will spread through out the world and to all the people that will be the time fiat could be eliminated. For now it is no.

Fiat will never be eliminated, now or even years later, fiat will still exist over time because fiat's role is undeniable, it has become a popular tool and is widely accepted everywhere, the convenience of it has created a stable and balanced society. This is something the governments of countries need so many years to achieve, and so they will not be able to because the appearance of crypto that discards this useful tool, this unnecessary replacement just makes things difficult and impossible to solve, they will not do this silly thing, destroying and rebuilding a new system will take a lot of time and prevent the development

smile1218

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Quote from: Sama517 on August 30, 2018, 07:33:41 PM

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.

Of course the fiat money will not be eliminated it will take more years to be eliminated. If the acceptance of crypto currency will spread through out the world and to all the people that will be the time fiat could be eliminated. For now it is no.

binhvo1505

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https://streamies.io/

Quote from: Sama517 on August 30, 2018, 07:33:41 PM

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. There are many people who are illusions about the future of Crypto. They think the Crypto can replace fiat money to do everything and pay at any time. These are bad thoughts and they do not understand the world at all. I still prefer to use fiat money because it has a lot of meaning in human history.

resty

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Quote from: Sama517 on August 30, 2018, 07:33:41 PM

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.

Long process if ever it can happen sir so you do not worry about the situation of fiat money, but still big possibilities for being bitcoin crypto currency world soon. I know that big country willing to provide more electricity and high Internet frequently to small coutry like here in the Philippines so that all our goal to become virtual digital in every processing is totally proceed.

sirminesalot

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Quote from: realcrypto on October 30, 2018, 01:57:59 AM

No time that fiat will totally be eliminated in the world, cryptocurrency may dominate in the developed countries but it will be difficult in developing and underdeveloped countries due to some necessary infrastructures like internet that may not be available.

yes maybe developing countries will use fiat money more because fiat money has become a daily necessity for their people. but if the developing country is able to do so it will definitely add benefits to the country itself.

CherryNMB

newbie

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In developing countries and countries with economies in difficulty, the Fiat currency in daily trading is an indispensable need. If you lose your fiat money you will have many difficulties in their life.

CrazeCoinz

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Quote from: Sama517 on August 30, 2018, 07:33:41 PM

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.

Only time can tell what will be our future currency as this will depends how crypto will evolve on what we have today. Many crypto currency will come in the coming years and I think we still need our fiat as this has big function in our daily routine. It's not that easy to eliminate our fiat money which government has all the control on it.

Ammitsurey

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Today, with the development of Blockchain technology, many decentralized trading floors (DEX) are being developed. But perhaps, it is something of the future, when people can use electronic money in daily exchanges. At present, electronic money is still considered as a digital asset and has low liquidity, so the need to trade between them and more stable currencies (FIAT money) is necessary. This is not supported in DEX. So far, the CEX is still dominant.

Soots

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Quote from: cryptoblazter on October 29, 2018, 11:44:51 PM

Fiat money will not die even with the success of cryptocurrency. They will exist side by side with specific purposes and functions. Remember that cryptocurrency is virtual and so not every transaction can be made virtually. Think of the current situation where not every place in the world is internet ready. So, how could you remove fiat from financia transactions, it's impossible.

Absolutely! Before the existence of cryptocurrencies, fiat has had already been the form of exchange from across the globe. It can hardly die as not all people are tech savvy and not all places in the world have internet connection or access. Aside from that there is no formal education as to what cryptocurrency is all about and not all people are aware and have fully-understood what cryptocurrency is. I don't think fiat can totally be eliminated in exchange of the tremendous growth of virtual currency. Fiat is a sign of progress and growth of every country. I think virtual currency can be very successful but it cannot replace fiat.

realcrypto

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No time that fiat will totally be eliminated in the world, cryptocurrency may dominate in the developed countries but it will be difficult in developing and underdeveloped countries due to some necessary infrastructures like internet that may not be available.

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