Topic: Please, we should not totally eliminate fiat currency - page 4. (Read 27244 times)
It is not possible to eliminate fiat currency, because even if you are mostly dealing with cryptocurrencies you will need to use fiat offline or with the big marketplaces online which still not supporting crypto as a payment method. Maybe after several years, when the crypto community becomes a lot bigger worldwide, they can force the governments to accept cryptocurrencies as a payment method everywhere.
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 we need a fiat money by now but we cant say in the future. As we can see the situation now people wants a digital transactions so we cant stop in the future we will live in cashless society. This is just the possibility but there are some people also don't want to live in cashless society and maybe they will fight for it.
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 for now that won't happen mate, because as we all know fiat currency has been used for a decades,
and crypto for now was becoming an alternative payment at the moment in online transaction, but can't be use for
physical payment unlike fiat is not.
What do you mean by physical payment? Obviously you can't use a crypto currency physically since it has no physical form. I think it can be used as a payment in the real world since there are applications now that offers immediate transaction and no fee as long as you are using the same wallet. But it will not replace fiats, not in a long long time.
Moreover, to eliminate fiat it will not happen in the near and short time because as you said, there are still many ordinary people and / or elderly who do not use smartphones and the internet. So, even though there is a lot of talk about cryptocurrency or other digital money that will replace fiat, I personally do not worry about it because IMO fiat money itself is a history or identity of a country that does not seem to be eliminated even though technological developments continue to grow.
I think that even if we take into account the number of elderly people who do not even know how to use smartphones or computers, they will not be able to use cryptocurrency and therefore Fiat is very important for them. But we must also take into account the fact that the majority of the population of our planet is made up of elderly people. Therefore, I believe that Fiat will exist until several generations change.
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 nobody is asking to eliminate fiat currencies, and it is almost impossible to eliminate them at least in the next coming years. It is normal that most crypto lovers prefer to deal mostly with cryptocurrencies, but they are also forced to use fiat especially for offline transactions.
that's what I'm thinking about. Another bad thing happens is that when a power goes out, transactions will stop or sometimes a system failure will occur and we need to re-authenticate the transaction and a lot of problems will happen.
Why don't people combine electronic money and fiat money together to create a better ecosystem?
I know crypto is convenient but it's only convenient in some areas.
National money is an integral part of each state, so they will exist as long as independent states with different political and economic interests exist on earth. At the same time, the share of paper money may decrease over time, however, I am not sure that they can completely disappear. In any case, it may be in a very distant future. In the meantime, this topic may not even be relevant. Why don't people combine electronic money and fiat money together to create a better ecosystem?
I know crypto is convenient but it's only convenient in some areas.
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 for now that won't happen mate, because as we all know fiat currency has been used for a decades,
and crypto for now was becoming an alternative payment at the moment in online transaction, but can't be use for
physical payment unlike fiat is not.
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.
We can not replace fiat currency. That's the reality we are facing. Even though most of us here wants crypto payments, it will not remove the fact that fiat is needed the most and people are use to it than bitcoin payments. Their are so many issues and debates if fiat will be gone for good and majority of people will not agree about it. Let us just welcome the new technology but never replace the traditional payments
that's what I'm thinking about. Another bad thing happens is that when a power goes out, transactions will stop or sometimes a system failure will occur and we need to re-authenticate the transaction and a lot of problems will happen.
Why don't people combine electronic money and fiat money together to create a better ecosystem?
I know crypto is convenient but it's only convenient in some areas.
Why don't people combine electronic money and fiat money together to create a better ecosystem?
I know crypto is convenient but it's only convenient in some areas.
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cryptocurrency cant eliminate fiat or bank. they will be use anyone until thr end, and now im still use fiat in transaction cryptocurrent. and its difficult if you use crypto as your daily, because not all people know about it, and you need access internet for transaction
Currently, it definitely difficult to use crypto currency as payment for daily activities but not for people in the urban area where we could easily use our crypto card to payment. Despite, all the crypto innovative payment, none of it totally eliminate fiat currencies and the reason is, all currencies (gold,coins etc) endorsed by the governments are not totally eliminated but use as secondary payment system.Mind you, in free market system gold is know as a currency.
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.
We cannot totally eliminate fiat currencies. That is a gargantuan task that will take several generations to fulfill. Bitcoin or cryptocurrency in general may actually succeed as a mainstream payment alternative. But it does not mean that fiat currencies will be vanished fully. Rural areas are much thicker than urban ones. And even some urban areas do not have internet.
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.
Even how we eager to do yet it is impossible to be..Fiat is a symbol of living and we cannot change that even how dominated cryptocurrency in future .fiat will stay to serve the people specially in occasions when Internet wasnt available and gadgets is not functional so whether we want it or not we cannot eliminate fiat 
cryptocurrency cant eliminate fiat or bank. they will be use anyone until thr end, and now im still use fiat in transaction cryptocurrent. and its difficult if you use crypto as your daily, because not all people know about it, and you need access internet for transaction
Fiat can't be eliminated by anything else, nowaday we know many platform that can be using for payment like paypal or skrill. That all still using fiat currency. Every country has currency for transaction in their country, crypto just for investment or asset that can profit, not for buying or selling goods.
Still, there are people who use the Internet, and who do not even use telephone service at all. The same situation will be with cryptocurrency and paper currency. Each currency will have its users. It seems to me that there must still be a choice.In order for a society to fully accept a cryptocurrency, you first need to make gay more educated, so that everyone understands what advantages cryptocurrency provides. First of all, you need to study this product at school, they are only in higher education.
Who think that eeryone will own a smart phone in 2019 in 2010,the techology keep evolves in very fast so a that time crypto fully adopted the internet will be available at every inch of this world on land maybe even underwater as well. 
I think that every person should have a choice. If someone likes the use of cryptocurrency, he will use Bitcoin or other coins, And who wants to use bank funds, he will use Fiat according to the old custom. It seems to me that this will only benefit, because it is in this that there is Freedom of choice. But first of all, our government should think about it, who are trying to infringe on the rights of users of cryptocurrency or even prohibit the use of cryptocurrency in some countries.
That has never been the aim or vision for which Satoshi generated bitcoin. The idea behind the use of cryptocurrency is for us to have another medium of payment which is absolutely secured, private and fast too. We can be using cryptocurrencies together with fiat at least till the time that almost everybody agrees to adopt the use of cryptocurrencies.
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 has to be addressed first before converting them into a digital place also. A digital application or a digital currency cannot possibly thrive in a remote community deprived of the basics such as electricity. Rural places do not have to be that isolated from the fast-paced progress of the world. They have to keep up. By the time they are provided with all the fundamental services, they may already embrace the use of cryptocurrency.
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