Please, we should not totally eliminate fiat currency - page 19.

BitcoinMyBlood

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Quote from: iMark on September 29, 2018, 09:03:29 PM

Quote from: julzcoinbit on September 16, 2018, 08:47:17 PM

Quote from: rainezerr on September 16, 2018, 07:34:15 PM

Quote from: Sama517 on August 30, 2018, 06:33:41 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.

In my own opinion, government will not eliminate cryptocurrency immediately since there are a lot of people today in the market who are investing cryptocurrency and that is the reason why it will be very useful for different people to have more income monthly but fiat will still be very important for different people.

It will never be happened, since there are still 3rd world country's which means not yet using internet technolgy where as they are still using traditional transaction through fiat. And I guess, the crypto will be evolved, but not totally being the main currency in the future, it will still an alts, and more be countries will be using it.

is a silly thing to change the world payment system and currencies that have existed for hundreds of years, I know how much you love crypto and I am also sure that the development of crypto will be good in the future, but that does not mean replacing fiat backed by the government.

It is right that we cannot use cryptocurrency in those areas of the world where there is no internet. We will have to use our fiat currency but it is for this time and we are talking about the future. when people start using cryptocurrency, the facility of using bitcoin in those remote part of the world we will see every facility to use our bitcoin, because in the future governments will also legalize bitcoin.

joyclicks

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Quote from: Ondre on September 29, 2018, 08:44:20 PM

I think it will take something maybe years to eliminate fiat money because many people still very dependent on it but i think it will be eliminated still when everyone will be instructed to use blockchain technology.

I don’t know why we should not eliminate fiat currency from our transactions. When we have one currency usable and acceptable all over the world and in our local markets then what is the benefit of fiat currency. I think that cryptocurrency is far better than fiat currency because of the wide range of use and acceptance. I don’t need fiat currency in my future.

Janation

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Quote from: umbara ardian on October 04, 2018, 10:40:58 PM

I think this fiat currency will not be easy to eliminate, this fiat currency will still use it for payment and for traditional transactions that are still often done by people of old.

If I will be asked about this, the word is not eliminate since fiat is being used for a long time now and with the value of it on the people using it, eliminating it is close to being impossible. It may be changed into something but not be eliminated.

Cryptocurrency will be used as a payment method in the future but I don't think it will be Bitcoin sincr Bitcoin in that time will be having a huge value to be only used as a payment method.

umbara ardian

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I think this fiat currency will not be easy to eliminate, this fiat currency will still use it for payment and for traditional transactions that are still often done by people of old.

Apes

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this forum does not attempt to get rid of FIAT in its use. in this community only trying to make cryptocurrency more popular with the public and accepted by the world. FIAT and crypto use is very different in daily use. they have pros and cons. wrong if there is an assumption of cryptocurrencies as a substitute for FIAT. we are working for so that crypto currencies are more existent.

Affilate User

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no, cryptocurrency will not be able to get rid of the circulation or use of fiat currency because there are still many who use it for transactions as one of them is parents who still use Fiat money because they do not understand technology in some countries and there are still technology I don't know bitcoin so I'm sure Fiat will still be able to be used in the future.

aeternus

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Quote from: Burogh on September 30, 2018, 07:09:16 PM

Its hard to eliminate fiat money because in many country, bitcoin or cryptocurrency not popular. Beside that, many areas dont have good internet infrastructure, and that make paper money needed.

The problem of infrastructure is probably one of the biggest problems that cryptocurrencies are going to face in the next decades, cryptocurrencies are going to be adopted all over the world but in order to use cryptocurrencies you need access to a computer, electricity and the Internet and while many of us have access to those services there are many people that don't.

whiteblue

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Of course not, in the future there will still be fiat currencies, because not everyone understands digital currencies such as bitcoin and some other cryptocurrency, many old people will still use fiat currency.

darkr

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Quote from: Angi on September 30, 2018, 10:05:04 PM

Fiat money is our traditional way of transaction were we are and fiat is acceptable to all nations even in rural places so fiat is not merely replacing because of OP said that their is many places that to internet connection or what should I say is digital things so if they wan't to use digital money its hard to them.

Even when the cryptocurrencies gain the greatest popularity, we will use fiat. paper money is the traditional method of making all the financial operations for all.

vasilev456

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Here you are right, fiat money cannot be completely removed, for the reason that there are a lot of places on the planet that cannot use digital money because of their development!

squog

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Well, for me, Fiat is a thing of the past. Things of the past are reliable to a point and the upkeep is too much to bear. With Fiat, we could use it for rural places that beeds developing and change to crypto currency once it is developed. All in all, the goal is total crypto currency use in the globe and use Fiat as a transitory medium.

btcjocan

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Quote from: Sama517 on August 30, 2018, 06:33:41 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 think your worries will never happened mate because fiat will remain forever no matter how many cryptocurrencies will exist.This is all because traditional money is what everybody used as a whole and we cannot easily eradicate fiat.

bonammeo

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Not everyone can use the internet and understand how blockchain works. My grandparents do not know how to use the internet, if they remove fiat they know how to deal. In the future, we can only restrict fiat, but not eliminate it altogether.

MMysterious

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Quote from: Sama517 on August 30, 2018, 06:33:41 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 dont think fiat currency will be eliminated so fast that can be dangerous to us like you said that rural places dont have internet that can access digital cash. I can say that fiat currency will be eliminated when people all over the world is ready to the change that it will bring. And maybe it will take 20-30years for that to happen. In my opinion digital cash and fiat currency will co-exist and not one of them will be eliminated. For the fact that people will believe and accept that digital cash and fiat currency as a medium of trading goods and products.

VaryTime

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I agree with you because the world economy need fiat to maintain the world. If not, the economy system will really complex and the government can not control their country.

Angi

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Fiat money is our traditional way of transaction were we are and fiat is acceptable to all nations even in rural places so fiat is not merely replacing because of OP said that their is many places that to internet connection or what should I say is digital things so if they wan't to use digital money its hard to them.

Kasabus

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Quote from: Burogh on September 30, 2018, 07:09:16 PM

Its hard to eliminate fiat money because in many country, bitcoin or cryptocurrency not popular. Beside that, many areas dont have good internet infrastructure, and that make paper money needed.

It's not only base on internet structure, but also we consider the acceptance of that certain community. As we knew that still a lot of establishments aren't accepting digital currencies and may preferred of having fiat money.

Burogh

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Its hard to eliminate fiat money because in many country, bitcoin or cryptocurrency not popular. Beside that, many areas dont have good internet infrastructure, and that make paper money needed.

Bonsaiav

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The use of fiat currency, as a medium or exchange/buying and selling tool has been started for a long time. When the presence of precious metals such as gold and silver has made it an exchange tool, that belongs into commodity money. Its fluctuations in value and the scarcity of the resources of the two metals are believed to trigger the birth of a new medium of exchange called fiat money. The nominal value stated in fiat currency usually exceeds the raw material price, and this value's determined, by law as well as government policies of a country that have been agreed upon by the community.
Technically the value of fiat money remains influenced by fluctuations in the value of the commodity namely gold.

I think fiat currencies cannot be eliminated easily because this currency's always needed in daily activities. The role of fiat currency in meeting the needs of life's an undeniable thing. As long as the government of a country is still standing, then the fiat currency used is still valuable and can survive. This 'thing' applies, for every fiat currency in any country.

Xising

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Quote from: Sama517 on August 30, 2018, 06:33:41 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 agree. Also, I think that this will happen more than most people here are saying that bitcoins will end fiat once and for all. I say that because of the fact that fiat money has been in circulation for a way longer period of time compared to cryptocurrencies, therefore, it is an expected thing that fiat has more people showing trust in it, it's more stable, and many are still more convinced on investing, doing business and holding it as compared to cryptocurrencies. Like I say all time, I more so foresee cryptocurrencies inter-playing and competing in the market than it totally eliminating fiat.

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