Topic: Please, we should not totally eliminate fiat currency - page 30. (Read 27244 times)

If we are basing to the updating or evolution of our technology i think it will posible that remove or replace fiat because we know new technology was coming and step by step implementing it for example textbook now we have ebooks in school we are now using it. So that step by step they removing the old version and change to the new technology.

yes we should not, and even if most of us here want that to happen, i think that would be very hard or long way to go but we just don't know what's in store for us all.

It will not happen that fiat is needed in this world but it is better that we use crypto as a tool for trading transactions so that it is easier,we live in this world must follow a good development for a comfortable life.

Never say never!

Fiat can in time disappear because people don't need it. It's the form of payment imposed on us by the governments. Will the governments change their mind and allow us to get rid of fiat? Probably yes if they knew that we'd switch to a centralized cryptocurrency.

Fiat would never be eliminated in any aspect of the economy. It plays a vital role in the economic growth and people knew it as the only currency to be used directly and easier around every corner of the world. Digital currency might be on trend but it can't replace fiat that easy.

I don't think that FIAT will be eliminated in this case, it will be very difficult to happen, FIAT reshuffle will be a very historic thing if it happens, what happens may only be the amount of usage, which will weaken, but the whole person will still need FIAT

On long term these places will have all the necessary requirements to adopt Bitcoin, if desirable. Actually, Crypto-Currency's impacts will be much more visible on long term, it's a natural process that happens slowly, especially in precarious places.

It's like electricity here. Decades ago there wasn't electricity in rural areas, but nowadays I don't know any houses that don't have access to this. It's a big achievement compared to the old times and in some decades, I believe people will say the same about Crypto-Currency. However, if fiat will disappear or not it's unpredictable...

I was really making the point that people have debt, and have that in the only currency
available which it is offered in, FIAT. and yes it is issued by banks. IMO Bitcoin or any
agent like a bank cannot ATM offer bitcoin loans because of its volatility and
decentralised nature.

The thread title is about not getting rid of FIAT and I agree because I dont want to have
a Bitcoin loan I want it to be a payment system as well as a long term  investment of sorts
as it was designed to do and what it has sort of become.

Let Bitcoin do its thing but let FIAT do and be something different

It's too early to give up Fiat. Not all people are ready to do this. But I think it's only a matter of time.

Doesnt matter if they write it over the flex board or in the amendment of rules and regulations, but I am sure that there is no way that fiat currency will get eliminated. The crypto currency are themselves very unlimited in their features and are not able to fulfil the needs of real world. I guess no matter what happens, fiat will always be there, may be in the new form in the future but surely it will stay as it is in terms of its use. Its a traditional currency and I dont think that people will let it go. Those who are in the crypto are just limited people who are more or less attracted to the crypto and want fiat to be closed soon enough. But that has got less chances of happening.

I do not think that we will eliminate fiat, but we only want to use innovations like this with technological advancements for the future, fiat will never be lost on this earth, cryptocurrency and fiat will always be together in accordance with their respective uses and advantages, in on the other hand that there are still many people who do not understand cryptocurrency and even ATMs no one knows exactly how to use it, those who think replacing fiat are just nonsense, too ambitious towards crypto, not thinking from the other side.

Yeah sad reality about adoption as some of the places on earth don't even have electricity, network coverage or internet facilities as what you have said earlier wherein only fiat money is working as a main payment method. Here in my country I can say that there are places like that and it will take time for that place to have those facilities due to natural and complicated situations.

This will not happen for sure, time will come fiat will decrease or increase it's value but it will not be eliminated in the real world,  even thou many people wish to do that here in the forum but it will take a very very long time before that happens if it will happen.  I also wish fiat doesn't exist, it makes human beings dependent to a thing which cannot be eaten. 

yes ,no computer, no phone ,no network, all of these situation will obstruct cryptocurrency from using. many people are just alternatively ignoring the reality.

IMO fiat currency will not really lose its value,but maybe lessen its usage as years goes by.But eliminating fiat currency might be impossible to happen knowing still majority of the people are still using it to buy their own wants and needs.

Most people in various countries must be still use fiat money, only a few people use digital currency. Digital currency is probably only used by rich people or people who know about technology. This has become the habit of people from the past using fiat money, not any complaints from them when using it or to switch to digital currency.

I think cryptocurrency purpose does not include the elimination of fiat in the everyday transaction of people even the subject of cryptocurrency became broad the use of fiat will still remains the same if people need to buy coins they will still use fiat as the main currency so it is impossible to eliminate the fiat in the sequence.

may be what we are talking about right now is not about crypto first, but how we can make a cashless society by using a digital currency, to make it digital it needs time, not every part of this world already have the capable technology

People wanting to get rid of fiat are keyboard warriors not understanding how everything works.

If you're so into Bitcoin, why would you even bother caring about fiat? Just keep using Bitcoin and ignore fiat where possible. Problem solved.

Fiat, regardless of how bad people think it is, does a way better job being money than crypto currencies do right now. People can keep hyping up crypto as much as they want, but they are either ignorant or just want to hardcore shill their investment. I personally think the latter is more likely since this whole space is filled with get rich quick noobs.

People should have an option to switch between currencies depending on which one is the most useful in a certain situation. In some cases that will be fiat, and in some cases Bitcoin.

At first I thought you were talking about the government being able to pay the nation's debts by printing more fiat. So I thought yeah, bitcoin can't do that since we can't just create more bitcoins out of thin air or simply print it. It has to be mined or bought. But your point went on about progression in a person's life and you started talking about loan. In issuing loans, the blockchain system surely doesn't have that. But fiat system doesn't have that to. It's the banks that issues the loans, not the system of fiat itself. It's not in its nature as both bitcoin and fiat are just mediums for transacting. In fiat, there's an institution that offers the loan (not fiat system itself) which is the bank. We can have the same thing with bitcoin. We can have an institution that grants loans as well and it's probably going to be banks again. It's just a different currency.

I don't think that's true at all. I live in a rather isolated province, rural area, and we still have multiple banks in here. There are also small scale banks that offers loans. In case of sending money, there are multiple ways that you can transfer money to another person now. Even small general stores are offering this service as it can easily be done with a phone and the phone doesn't have to connect to the Internet.

Also that begs the question, "Will the person he's transacting to is using bitcoin?" which begs the question "Will he be able to use it to do transactions with other people?" At the end of the day, the bitcoin has to be converted into fiat so we can use it to buy something. We're just still not at that point that goods can be bought using cryptocurrency, there's just not enough users.