Please, we should not totally eliminate fiat currency - page 7.

Nellayar

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Quote from: terrific on August 30, 2018, 08:18:36 PM

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 need both of them. Fiat cannot be eliminated in this world. Maybe, if all people can access in internet and it will become the regular needs of the people. But as of now, fiat plays vital role in our economy. Lots of opportunities are made by cryptocurrency, but in the end we turn it in fiat because it needs to buy our foods. Specially, in a 3rd world country just like what I live.

Leonardo7

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Fiat will be here for a long long while. We still have underdeveloped areas and uneducated people in the world and integration barrier, only that it won't be used for a major transaction, will most likely be used by locals. Fiat is too costly to handle and maintain. I remember my bank telling me they pay cash handling cost. Banks are too expensive to maintain.

Nhebu

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Of course, it will not happen instantly. Fiat currency gives the government central bank a control how much currency will be printed. This make them have a power to manage economic variables such as credit supply, liquidity, interest rates, and money velocity. Because however we refuse to have a control over money we need them for the regulation of our economy.

Irvinn

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If we assume that access to the Internet will be made in some remote place, then all these problems will not be solved, because if we are talking about the global use of cryptocurrency in society, then people need to be trained and this should be done not only in the institutions, but also in the initial the school. until there is a more global approach to this problem, Fiat will remain for daily use for a very long time.

Dannaey

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Yes, there are still some areas that do not have access to computers because there's no supply of electricity there. But we should also know that it won't take long. Eventually, Rural areas will become more accessible and will have a consistent supply of electricity. The technology is being developed by now, it will take time until we see the full results. So Fiat money will still be here for a long period of time.

Dontme

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Quote from: Sama517 on August 30, 2018, 06:33:41 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.

Ofcourse, fiat can not be eliminated that easily even crypto community insist it. Crypto is not yet known to many people and as we know, some government oppose crypto. As long as government are backing fiat, it will not be eliminated.

satriagedhe

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as i see i never saw people want to eliminate fiat , most people said that "will bitcoin elminte fiat ?" and i guess it wont happens because fiat right now are vital on transcatiction we do

akram143

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Quote from: Sama517 on August 30, 2018, 06:33:41 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.

fiat is still in the same straight but cryptocurrencies are developed a lot so people definitely want to be in the part of cryptocurrency development more than that so I definitely hard to understand but it will be the fact.

XFlowZion

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Indeed. Third world countries or those that really don't have access on technologies will still rely on physical things like with fiat. They also don't have enough knowledge on how banking and digital transactions work. They'll be the victim of scammers who take advantage of what they don't know.

iMark

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Quote from: Triwiyono on February 13, 2019, 10:08:25 AM

actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.

Of course, we have to admit that we still need fiat? crypto that you are proud of still cannot be used as a major currency,
the reason is there are still limits to its use. so anyone won't be able to replace fiat as the main currency, and then replace to bitcoin ?

Japinat

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Quote from: coinluisa on February 13, 2019, 06:00:35 PM

Quote from: Sama517 on August 30, 2018, 06:33:41 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 think it will not happen that fiat will eliminate because in decades we use it in crypto and like you said not all times we can use the crypto in some situations. So I think in consideration it will not happen.

You should not worry, fiat will stay and crypto will develop.
They are not competitors, crypto is just new and this one needs some good regulation, it's risky in crypto
and people would not allow to use it when the price volatility is still a big problem to solve.

It will take time, only the government can make price stable with their appropriate measures.

wahyu wida

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Quote from: cahbagus555 on February 13, 2019, 08:28:55 PM

Quote from: TRONTON on February 13, 2019, 05:52:40 PM

Quote from: Triwiyono on February 13, 2019, 10:08:25 AM

actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.

crypto is not acceptable to many people, even today there are still many people who still have problems with the bank system and the use of ATMs. universally many will not be able to adjust economically, and fiat is the most quality model. Fiat removal is very unlikely, but the volume of crypto users will indeed continue to increase because the era continues to grow.

I am agree, many people still dont have access to cryptocurrency because internet infrastructure. Fiat money always needed for people who dont have access to internet and most people more convinience using fiat money

this can be seen in my city, where bitcoiners are only a few, and become a minority, it is even difficult for us to find bitcoiners, so it will still be needed to become a fiat, and that is the reality, and the government still supports fiat

cahbagus555

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Quote from: TRONTON on February 13, 2019, 05:52:40 PM

Quote from: Triwiyono on February 13, 2019, 10:08:25 AM

actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.

crypto is not acceptable to many people, even today there are still many people who still have problems with the bank system and the use of ATMs. universally many will not be able to adjust economically, and fiat is the most quality model. Fiat removal is very unlikely, but the volume of crypto users will indeed continue to increase because the era continues to grow.

I am agree, many people still dont have access to cryptocurrency because internet infrastructure. Fiat money always needed for people who dont have access to internet and most people more convinience using fiat money

coinluisa

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Quote from: Sama517 on August 30, 2018, 06:33:41 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 think it will not happen that fiat will eliminate because in decades we use it in crypto and like you said not all times we can use the crypto in some situations. So I think in consideration it will not happen.

TRONTON

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Quote from: Triwiyono on February 13, 2019, 10:08:25 AM

actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.

crypto is not acceptable to many people, even today there are still many people who still have problems with the bank system and the use of ATMs. universally many will not be able to adjust economically, and fiat is the most quality model. Fiat removal is very unlikely, but the volume of crypto users will indeed continue to increase because the era continues to grow.

Triwiyono

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actually not many want to eliminate fiat currency. in my opinion, crypto currency and fiat should go side by side, because crypto will be increasingly recognized. maybe you see a lot of people who want fiat currency to be replaced with crypto, but believe it is hard to happen.

tinystone26

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Yes mate we should not eliminate fiat because it is still useful in any cases like what you said in the rural places that usually don't use online currency. And I think people in the rural places will really confused in using it once they are being paid by it with the people's who know online currency.

Ezenwanyi1

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Veil

I do not think that it's that easy and possible for fiat to be completely eliminated and replaced with Cryptocurrency.
There are people amongst us who are not literate and so wouldn't be able to flow with the tide of using Cryptocurrency for their daily activities.
There are also those especially in rural areas that do not have access to Internet services....how will such people cope without fiat?
You answer is as good as mine.
So fiat is very important.

Akagum

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Eliminating fiat completely and replacing it with Cryptocurrency would mean cutting off those in the rural areas, those that don't have access to Internet and the illiterate among us from excersing their rights as citizens of the world.
Eliminating fiat completely is not that possible .

tbossmitche

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I absolutely do not believe that the total elimination of fiat is something we should be scared of. For all the advantages of cryptocurrencies, we cannot deny the fact that fiat still trumps it in many ways. Take for example in the rural areas where computers or mobile phones are not available, wouldn't they still stick to fiat?. I am of the opinion that the best we could hope for is that these two currencies work hand in hand. Till the end of time, we'll always need a means of exchange which can be handed over from one person to another physically.

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