Topic: Please, we should not totally eliminate fiat currency - page 33. (Read 27244 times)
I believe that the ratio of BTC and dollar will gradually change while coexisting and prosperous without being expelled as currency. Of course, as BTC's Share increases, the Internet environment around the world will be improved. From that point onwards, the dollar may be driven out in earnest, but it may change currency to Crypto currency like the USDT and it will be the currency that remains.
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.
Just like we had banknotes backed by gold in the past, we might get banks that will issue notes backed by Bitcoin in the future, and they will be easily prove that they hold coins by simply showing their address and signing a message. These physical Bitcoins can then be used in places without Internet access. Of course it won't be secure and trustless like the real Bitcoins, but still it's a solution.
But you shouldn't worry about it, because fiat won't die, governments will not allow it for as long as they exist, and it's unlikely that Bitcoin will ever get adopted enough to topple big governments.
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 its not eliminated but we only think the future could be cashless and thats mean there will be no more fiat which is it could happen naturaly cause development of cryptocurrency. But its sure takes time and its still imposible for this time. Even without computers we can use crypto if we have smartphones but we can't use it if there's no internet.
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
This is relevant to the most extreme edges of crypto in places like east Africa I think crypto standards are used across mobile phones and also maybe a FIAT standard. With no good banking system available in those basic economies the ability to exchange value normal falls to US dollars and paper exchange, these are the people most remote from QE and Washington money printing and who ultimately pay the greatest inflation I think.
Its very possible crypto can be used still in these cases but it would rely on peer to peer networks so perhaps with great latency to a real internet confirmation of the transaction. Its possible alternate crypto standards are doing the most work in these cases.
The greatest growth possible comes from the smallest elements like this imo, very relevant to crypto future imo
Even without computers we can use crypto if we have smartphones but we can't use it if there's no internet.
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
Yes Of course they won't be able to produce crypto if they don't have internet, I think the importance of the internet is in their area so they can learn about the introduction and development of crypto so they tend to be more familiar with crypto. We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
Lmao you say that like it's our choice. Even if everyone who owned Bitcoin wanted to replace fiat, it's not going to happen. They're going to exist for as long as governments exist, and there are no indicators that the entire world will fall into anarchy anytime soon.
All people can really do is choose not to use fiat, and the hope is that Bitcoin would actually make that choice feasible.
All people can really do is choose not to use fiat, and the hope is that Bitcoin would actually make that choice feasible.
Don't be so quick to judge what "most of us want" by what's posted on bitcointalk. That's like trying to determine everyone's thoughts on radical feminism by looking at Twitter posts. It's very biased.
I, for one, don't want to see the end of fiat. If that ever comes about, we're screwed, even if it's bitcoin that takes over. That would mean that governments have failed, and most likely the world economy will have as well. I want to see fiat continue and not get into some sort of hyperinflation situation where it's worthless. There's nothing as anonymous as paying with paper money, not even bitcoin. And I highly doubt there are many intelligent people here who really want fiat to fail. You may as well be wishing you'll starve to death.
I, for one, don't want to see the end of fiat. If that ever comes about, we're screwed, even if it's bitcoin that takes over. That would mean that governments have failed, and most likely the world economy will have as well. I want to see fiat continue and not get into some sort of hyperinflation situation where it's worthless. There's nothing as anonymous as paying with paper money, not even bitcoin. And I highly doubt there are many intelligent people here who really want fiat to fail. You may as well be wishing you'll starve to death.
Even without computers we can use crypto if we have smartphones but we can't use it if there's no internet.
That's what scares me about crypto and even internet banking, debit cards, and all that. If you've got cash you can use it anywhere in the real world, but if you've got no internet or lost your debit card and you have to buy something and all you've got are electronic forms of money, you're screwed.Lmao you say that like it's our choice.
Yeah, and then there's that. Even without computers we can use crypto if we have smartphones but we can't use it if there's no internet.
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
It will take time. I agree with OP. How about the countries which have high poverty rate wherein not all people afford to have a smartphone. Crypto is the future but as I said it will take time for us to be transitioned to a paperless society how about the government owned banks I don't think they have plans in getting into blockchains. We have to consider a lot of factors before all of this will happen.
Even without computers we can use crypto if we have smartphones but we can't use it if there's no internet.
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
We can't fully eliminate fiats, this is the truth for now because of the modern technologies that are emerging.
People can't decide on what they can trust and use but for us crypto rocks!
Of course we cannot.
Not 100% of the world population having the access to the Internet. What's more, not everyone understand how blockchain works and how to use crypto, not mentioning people who dont know how to use a computer.
There's a lot of things to do before crypto even becomes popular around the globe. We shouldn't worry about cashless society now.
Not 100% of the world population having the access to the Internet. What's more, not everyone understand how blockchain works and how to use crypto, not mentioning people who dont know how to use a computer.
There's a lot of things to do before crypto even becomes popular around the globe. We shouldn't worry about cashless society now.
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 is hard for cryptocurrency to overtake the fiat currency in transactions many people will still use the traditional way of transacting in business and other kind of buying or selling good products, and also as what you indicated above many countries in the world are still in the 3rd world classification meaning not all places in a particular country has the internet connections and even computers.
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.
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.
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