Please, we should not totally eliminate fiat currency - page 2.

yulionoo

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Quote from: harizen on August 30, 2018, 07:38:44 PM

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.

It will not happened even for a decade. Don't worry.

Most people here just expecting too much without looking at the reality and the massive effect of it.

Crypto will grow more but fiat will still be there.

This will take a long discussion so I will leave a simple statement first.

yes, I agree with you even though cryptocurrency is growing rapidly we still need fiat money for daily use. or if one day there is a major natural disaster, the internet and electricity network will be cut off. of course we will need fiat money. I think both fiat and cryptocurrency can support each other without having to eliminate one of them. and although cryptocurrency is now headed for mass adoption. it will take a long time to be realized.

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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.

This is what I'm also telling to others that want to replace fiat totally. This would be a problem to regular day to day trade of goods and services since Bitcoins and other altcoins price is so volatile, people would adjust prices too often. Making bitcoin fiat/paper would be just a waste of resources, it breaks the idea of it being a digital mode of payment. What we need is for it to grow but not totally replace existing currencies.

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We do not have eliminate fiat currency with have ready payment suing bitcoin because we need both of fiat currency and digital currency, some place maybe not support using digital currency like bitcoin we can use fiat currency for our transaction, but all depend on how many people still use fiat currency for their payment.

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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.

The question of eliminating fiat is one for the far future. I don't think it's even really a relevant question at this point. I'm far more concerned with getting crypto into mainstream use. We hear a lot about use-cases for various coins, but it's all in the future. There's very little that is actually in use now. Maybe XRP, but the others aren't really anywhere as yet. It will come, but it will take time. And removing fiat as an option is a long way after that.

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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.

That's true not all countries are the same there will always place in every country where there is no internet access but people from this area accept fiat, if we take out fiat to them they have no means to get paid and pay for their product and services.
They can always co-exist we must never think of extinction of fiat it should be one of the options.

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Quote from: Meowth05 on October 01, 2019, 10:59:26 PM

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.

One thing I only knows l, fiat currency will never replaceabe maybe crypto could become an alternative mode of payment but he will never replace fiat. Why? simply because there are some places especially in third world country that don't have internet connection and we know that the only way we can use crypto is through online. Just like what I have mention cryptocurrency could be better use for online transaction while fiat for physical transaction.

Yes, I agree and crypto will not be able to replace fiat currency and both will go hand in hand because using crypto must use an online internet network to be able to access it and for transactions or others.
because not all in one country can receive a good internet network, especially in rural areas and not everyone has technological tools such as smart phones and computer devices, but with technological advances it is possible and evenly distributed, but it still takes a very long time and however crypto will not replace fiat money and the two will go together.

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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.

One thing I only knows l, fiat currency will never replaceabe maybe crypto could become an alternative mode of payment but he will never replace fiat. Why? simply because there are some places especially in third world country that don't have internet connection and we know that the only way we can use crypto is through online. Just like what I have mention cryptocurrency could be better use for online transaction while fiat for physical transaction.

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In the next few decades, we still make traditional transactions, and only some transactions can make payments using crypto. In the future, the era of blockchain technology is developing so rapidly that fiat currencies will become memories as paper used for transactions.

xabre

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We have support for fiat currency using bitcoin or altcoin because have big solution for many people to get profit, we can using fiat currency more faster than using money.

karanggatak

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yes. i know in some country mostly people use digital money. so they use card or just scan barcode on smartphone, though in traditional market. its like they are ready to move to the technology. but they still accept fiat, the reason is like what you say before and maybe they provide it for tourism that buy on their store.

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Quote from: skyline247 on October 01, 2019, 05:42:19 PM

I agree that fiat currency can be okay for a temporary time. However, all things come to an end and I replaced by better means. therefore, we should embrace Bitcoin and understand that it is the future and continue working with it instead of against it.

Fiat money will be useful for a longer time and not just for a while. Remember, technological developments continue to grow year after year and so too banks continue to improve their performance to become more digital, and therefore fiat money will always be useful and will not be eliminated easily.

skyline247

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I agree that fiat currency can be okay for a temporary time. However, all things come to an end and I replaced by better means. therefore, we should embrace Bitcoin and understand that it is the future and continue working with it instead of against it.

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Quote from: teosanru on October 01, 2019, 11:15:34 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.

Oh well you look so cute while saying this Roll Eyes

. So innocent who thinks that we all are walking tomorrow morning towards the President's house and giving our dissent to Fiat forever. Chill Bro don't freak out. No one is going to eliminate fiat in near future. Forget rural, even the urban crowd doesn't knows completely about cryptocurrencies and its usage. Even if everybody gathers around knowledge of BTC. It's hard thinking that we have no fiats because that would be a day when we are also completely forgetting our governments because they are in political supremacy because they can control the finance of their country. Without that they are just puppet ready to be overthrown.

Fiat is needed and will not be eliminated (or at least I hope so). There are still many places where internet or even modern electronics have not reached yet and this places needs FIAT. If someone wants so badly to eliminate it then he should think of consequences of such actions

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There is currently no reason why fiat money should be eliminated.
In the future, with the evolution of humanity and a greater globalization, it may be that at first they create a unique fiat money, and later leave it only digital.
But for that, we have a lot of ground ahead.

teosanru

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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.

Oh well you look so cute while saying this Roll Eyes

. So innocent who thinks that we all are walking tomorrow morning towards the President's house and giving our dissent to Fiat forever. Chill Bro don't freak out. No one is going to eliminate fiat in near future. Forget rural, even the urban crowd doesn't knows completely about cryptocurrencies and its usage. Even if everybody gathers around knowledge of BTC. It's hard thinking that we have no fiats because that would be a day when we are also completely forgetting our governments because they are in political supremacy because they can control the finance of their country. Without that they are just puppet ready to be overthrown.

conected

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Quote from: robelneo on October 01, 2019, 07:06:07 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.

I'm 100% agree we still need fiat, we will have a lot of issues and problems if we stop using fiat, Bitcoin and other Cryptocurrency are internet-based, there are places that still do not have internet or weak internet connection like several provinces in our country, and there are ethnic group that prefer fiat, let them have a choice we still need fiat our daily lives even if we are using Bitcoin to all our transactions.

- Obviously, virtually all cryptocurrencies require an internet connection in order to perform the transfer and receive operations, besides, the owner also needs knowledge and appropriate wallet addresses for customers, not every store is well versed in this option. That is the first problem we will face, the next will be the value of the product, even the value of crypto that we own, every day a different price, I don't think we have enough time to handle this problem, while with the familiar fiat currency, simple and fast handling, I don't understand why the idea of getting rid of it came out.

Sithara007

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Quote from: ?? on ??

This wont happen because not all people know what crypto currency is. I cant see any reason that flat currency will be elimated. In addition without internet you cannot use your crypto. Other crypto are not yet acceptable in any store where you can use it when it comes to paying bills or other stuffs. Flat currency will alwyas remain no matter what happen.

There are several reasons why cryptocurrency will fail to completely replace fiat cash and the fact that cryptocurrency won't work in the absence of internet sounds like the most convincing argument. On top of that, you need either a smartphone or a laptop to install your wallet software, while dealing in fiat banknotes and coins doesn't require any of these things. Another practical difficulty may arise from the fact that the vast majority of the world nations operate on budget deficits. They balance their budget, by selling their debt to their own citizens, and sometimes to other countries. While this is a very simple process as long as fiat cash is involved, it gets complicated if they have to do the same with cryptocurrency.

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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.

yes, for now indeed there are still many villages in various countries that have not been reached by the internet or computer facilities. if in the future, maybe the technology is more advanced and the internet will almost reach all parts of the entire country. if so, using crypto is indeed very effective and more sophisticated.

but, remember that there are still things that are not very effective at using crypto. like buying cheap goods or services I think I have to use fiat. after all fiat or paper money is the identity of the country so that it is different from other countries.

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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.

I'm 100% agree we still need fiat, we will have a lot of issues and problems if we stop using fiat, Bitcoin and other Cryptocurrency are internet-based, there are places that still do not have internet or weak internet connection like several provinces in our country, and there are ethnic group that prefer fiat, let them have a choice we still need fiat our daily lives even if we are using Bitcoin to all our transactions.

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Quote from: meliodas on September 30, 2019, 08:06:57 PM

Quote from: ?? on ??

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.

This wont happen because not all people know what crypto currency is. I cant see any reason that flat currency will be elimated. In addition without internet you cannot use your crypto. Other crypto are not yet acceptable in any store where you can use it when it comes to paying bills or other stuffs. Flat currency will alwyas remain no matter what happen.

Of course it will still remain in our world and to be honest, we don't need cryptocurrency to replace the fiat currency because the fiat currency is perfectly working. The fiat currency will just evolve but it will not vanish like what other people like to see because the government will not let that happen because if fiat currency will be eliminated then it is the end of the country.

I don't think that with the evolution of Crypto it can totally eliminate Fiat. Fiat is what the government declared to have legal tender while crypto is the one with no central command and may not be widely-accepted yet. We might have different perception about Fiat and crypto, both can be called money or currency but both are medium of exchange that are use to store and transfer value, both have value governed by supply and demand, and other economic factors.

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