Topic: Please, we should not totally eliminate fiat currency - page 27. (Read 27244 times)
It will not happen in the short time my friend, more precisely it will not happen before the global financial crash happened of course. And it will need a more technological infrastructure that can cover all the internet needs in all the world. So, take your time to buy land and farm.
Yes we should not to eliminate and remove or leave fiat currency for our live, look at how many people was get profit and take more benefit with cryptocurrency. we have learn at the people get profit with bitcoin and cryptocurrency investment.
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.
Quite right my friend! Regardless of the trouble people say it causes, there are some scenarios where physical fiat money is the only option. The sad truth is that not everyone is fully connected yet. There are now more people than ever before with access to a smart cellular phone. There are even more who now have access to a basic mobile phone device.
To eliminate fiat completely would be a complete disaster. A first world country may indeed be the first to have a cashless society, somewhere in the distant future maybe.
As of now, not so much. Fiat isn't going anywhere, anytime soon.
One day in the future, once everyone in society is properly educated and rightfully equipped, then maybe fiat will be discarded and digital cryptocurrency will be the replacement. Maybe...
Let's not forget about the mom and pop stores who haven't made it into the digital age yet, which to them crypto may be likened to something out of Star Trek. What about the street vendors, or the ordinary Joe's who just want a cup of joe before work? I don't think crypto fits their forte, at least not in it's current form. It would need to be more "User Friendly".
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 as of now, cryptocurrency still has no chance to overpower fiat. Still people believe on the capacity of bitcoin but dominating fiat would not be possible as of now. I think if that will happen, I would not be able to witness it because that will take too much time to take place. There are many factors to consider and a decade or two will not be enough. 
Come on. There is no way the government are going to rely the economy to digital currency where they have no control over. The resistance is just too strong that we ourselves can't live without fiat. It will not happen in our lifetime and probably not even when our children gets old. Unless they will create their own centralized coins, a government owned coin running on blockchain.
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 happen. At least not soon. The world economy is based on fiat money and cryptocurrencies are a very small part of it. Financial institutions are not interested in popularizing cryptocurrencies so they certainly will not facilitate this.
I think that people's opinions on the forum will not affect the decision of the governments in relation to the currency. Do not worry and do not panic.
The popularity of bitcoin is slowly penetrating to the places all over the world, but cryptocurrency might not totally eliminates fiat currency ,for the reason that places without the access of the internet, could not utilized the function of the digital crypto currency which need to be on line and connected to transact this digital activities , so the absence of this make fiat money be useful as usual.
completely eliminating the real fiat currency might just be a dream, because the reality is very difficult, there are many factors that hinder the start of culture, low levels of education, uneven technology especially if the country is left behind and the country is in a complicated situation, so it might not be eliminated but suppress and reduce the function of fiat currency itself but in practice fiat and kripro must be able to walk side by side and complement each other's shortcomings
Strange to see the excitement about the disappearance of Fiat.
In my country all calculations with money are made only in fiat at the legislative level.
I do not think that the Fiat will disappear once...
In my country all calculations with money are made only in fiat at the legislative level.
I do not think that the Fiat will disappear once...
The fiat currency will not disappear! The currency currently circulating on the market is not legal currency!
The cryptocurrency is only a supplementary currency for legal tender!
The cryptocurrency is only a supplementary currency for legal tender!
I think that the fiat will not be completely taken out of circulation, but will reduce the amount of cash circulating money. Countries rich in resources are constantly increasing the gold reserve, gold standard can again be introduced and the working cash will be backed up with gold.
Fiat is used in how many decade, so i think it will not gone, it will still exist in a life time with the cryptocurrency.
I think that the fiat will not be completely taken out of circulation, but will reduce the amount of cash circulating money. Countries rich in resources are constantly increasing the gold reserve, gold standard can again be introduced and the working cash will be backed up with gold.
As cryptocurrencies' popularity is high and one of its goal is to be the good alternative for fiat currency, then there is really that perception from people that fiat currency will be replaced by crypto soon. But let us not forget and consider that there are still people who don't want to use crypto and that they are computer illiterate and lived in low class country.
Elimination of fiat currency at this time is far to happen because there are many places that don't have a computer and network site, even electricity they don't have. I think we both need digital currency and fiat currency.
As cryptocurrencies' popularity is high and one of its goal is to be the good alternative for fiat currency, then there is really that perception from people that fiat currency will be replaced by crypto soon. But let us not forget and consider that there are still people who don't want to use crypto and that they are computer illiterate and lived in low class country.
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.
why are you so worried? all opinions that say that fiat money will lose to cryptocurrency is just a speculation, Fiat money will continue to be used while crypto continues to grow. Moreover, not all regions can accept crypto because technology is not evenly distributed in some regions. 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.
The fiat money will not be totally vanish or out of the circulation of the medium of exchanges,because there are places with no adequate supply of internet access and crypticurrency can not be applied in this areas ,so fiat currency can be utilized in this areas.
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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're right OP because everything about cryptocurrency have to do with the internet and most of the rural area don't have access to it and I heard some new project are creating a physical crypto currency which i have not confirm yet. However, the cryptocurrency community are just talking about eliminating fiat currency due to the affection we have for cryptocurrency but we both know that the government won't let it happen.Meanwhile, this was the reason why some country like China ban bitcoin.
Dear my friend, do you really believe that the crypto currency will substitute fiat currencies totally? I am absolutely sure that it is impossible in the near future. The world economy is designed on using fiat currencies and especially dollar. To change this situation it need to change the basic principles of the world economy. I think it would be nice to test a crypto currency as a national currency in any quite small country. It may be like a live training where we will be able to examine benefits of using a crypto currency as a prime national currency, I mean that w need to have a real example of using a crypto currency in a country as a national currency to begin talking about substitution fiat currencies.
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