transition FIAT to DIGITAL? - page 2.

joebrook

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Quote from: Pursuer on August 06, 2017, 04:51:05 AM

the transition from physical currency to digital currency has begun a long time ago. these days people rarely use cash. we are all using cards, our phones and all kinds of weird stuff to pay online/offline. and that was a long process and took years.

transition from fiat to bitcoin is another thing though. I don't think it will happen. people and government won't simply give up on their centralized country currency and use a decentralized global one. not for another 100 years maybe. but that doesn't mean bitcoin can be used as a currency alongside fiat though. I am only talking about replacing it.

In third world countries like those in Africa and South America and some parts of Asia FIAT is dominantly being used everywhere to make our transaction and i can tell you that it is going to take more fifty years for digital currencies to be used everywhere in the world.

sindikat

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First will be the transition to electronic Fiat. I think the cancellation of the cash will be soon. But e-money and cryptocurrencies are two different things. Fiat is important for the existence of the state. The economy can exist and develop only with manual control. Cryptocurrencies will never replace national currencies. But the existence of cryptocurrencies can force large capital to fight for workers. This can lead to higher wages.

Wittycoin

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I think fiat to bitcoin will not gonna happen easily and not in a short time. In the first place fiat is always backed by the government and some government hates and bans bitcoin.

Rose119

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Quote from: Jmmerquita on August 06, 2017, 02:15:28 AM

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

I think this will not be easy especially to those place who has no internet , yes it's helpful but I don't think all people can use digital currency because not all place have an internet.

Harlot

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Hopefully we don't faced this kind of problem in the future. I mean transitioning to what we are not prepared to adapt too will do more harm than good. We are now living in the world where we are not forced to using only one payment solution, by having a full transition to certain digital currency it will only hinder people are not in favor of using it, I mean people who are not inclined to using gadgets and devices particularly the elderly, we don't expect them to be using their mobile phones (If they have one) in paying something.

eelectrick

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Quote from: Jmmerquita on August 06, 2017, 02:15:28 AM

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

It's been done already, some nations have already succeeded with the transition but there are
still countries that are still on the process with the adaption process. Considerably the change
from fiat to digital currency has been made possible and popular with the rise of Bitcoin. It
started as an alternative means of transaction system, a very efficient one too. And in the span
of 8 years, bitcoin is the number 1 currency in the market. A well known digital currency that
made adaption possible and gave birth to cryptocurrency revolution.

Choyor

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Quote from: Jmmerquita on August 06, 2017, 02:15:28 AM

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

This is nothing new, the fiat to digital transition has been done for a long time. But if the transition of fiat money to Bitcoin in my opinion has not been realized because some people still depend on paper money, they consider Bitcoin as an opportunity to earn money only. Even if it happens it will take a long time to make it happen. but it can happen in the future.

bitcoinFPT

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That would be unlikely to happen because fiat is more convenient and cash payments exist for thousands of years. With digital current you have to have internet, computer or smartphone at your side and not everyone can use them and there are things you need to pay by instant cash for example paying for street vendor or electricians

juliamichaels18

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to make fiat money disappear it would take a lot of afford and a lot of times. goverment seems didnt like cryptocurrency. from the start they afraid of it cause it will destroy bank and make goverment influence through money become decreasing. so its takes a lot of time to make people realize and to make this system accepted by all people around the world.

aznboy84

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It is easy, because having crypto is much more easier to manage, you do not have to have huge bills on your pocket to buy a car, you can do it right after away that you want to buy something, it is quick, fast, and cheap, that is why i prefer cryptos instead of fiat.

Mahanton

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Quote from: Sweetbtc on October 22, 2017, 02:21:52 PM

Quote from: Jmmerquita on August 06, 2017, 02:15:28 AM

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

The transition of fiat to crypto was already begun on the very early age of bitcoin. But the problem only of this is the acceptance of the government, nothing else because as we can see they are the only one that really do not like bitcoin.
But we can say the transition of fiat to bitcoin is can really help ones life.

When we do talk about transition then its general that if bitcoin become mainstream then we are already residing local fiat and make bitcoin is on the spot but we do know that these things are not possible. There might be a possible transition but only for those e-currency which is centralized or being made by government which I do see the high chance or possibility to happen than on talking into bitcoin itself.

sharted

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Quote from: litolmarauder16 on January 12, 2018, 12:03:23 PM

It is true that bitcoin has been gaining attention and a lot of people are using it nowadays. However, it would be really difficult to have a transition from fiat to digital currency because almost everyone still use physical money for small to big transactions. Digital currency will make a way to make things easier but it cannot get the place of the fiat money from thr world of finance.

Bitcoin is the only decentralized and widely used digital currency.Now the transcation of FIAT to bitcoin is became very easy and fast.So many are start to inverse their money in bitcoin and their are free to cashout at any time they want of dollar.Even huge amount of transcation are possible in bitcoin.

litolmarauder16

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It is true that bitcoin has been gaining attention and a lot of people are using it nowadays. However, it would be really difficult to have a transition from fiat to digital currency because almost everyone still use physical money for small to big transactions. Digital currency will make a way to make things easier but it cannot get the place of the fiat money from thr world of finance.

Sweetbtc

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Quote from: Jmmerquita on August 06, 2017, 02:15:28 AM

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

The transition of fiat to crypto was already begun on the very early age of bitcoin. But the problem only of this is the acceptance of the government, nothing else because as we can see they are the only one that really do not like bitcoin.
But we can say the transition of fiat to bitcoin is can really help ones life.

KEPLER99

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Quote from: sindikat on October 19, 2017, 07:47:59 AM

Quote from: DrGuns4Hands on October 19, 2017, 07:33:15 AM

i think fiat system won't disappear in this world so no matter what happens crypto currencies and fiat system has a boundaries with each other because government won't let fiat system disappear. And also bitcoin can't be used as a daily money that youcan use in the store because it is decentralized. the price of bitcoin and other crypto currencies are not stable.

I don't agree with the idea that bitcoin cannot be used as currency. Lack of demand will push shops to accept bitcoins. Any sagging bitcoin prices then kompensiruet its growth. Only try will trade with small amounts. Price of small transactions is very high and it does not yet turn around the trade.

The importance of the fiat and the money has its own place but the value of the bitcoin is having some other value, I like to use the bitcoin as the high source of income because the price of the bitcoin is increasing and the circle of the bitcoin as well. Try to use the bitcoin as the place of the fiat and not to convert because he importance of the bitcoin is much high as compare to the fiat money.

sindikat

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Quote from: DrGuns4Hands on October 19, 2017, 07:33:15 AM

i think fiat system won't disappear in this world so no matter what happens crypto currencies and fiat system has a boundaries with each other because government won't let fiat system disappear. And also bitcoin can't be used as a daily money that youcan use in the store because it is decentralized. the price of bitcoin and other crypto currencies are not stable.

I don't agree with the idea that bitcoin cannot be used as currency. Lack of demand will push shops to accept bitcoins. Any sagging bitcoin prices then kompensiruet its growth. Only try will trade with small amounts. Price of small transactions is very high and it does not yet turn around the trade.

DrGuns4Hands

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i think fiat system won't disappear in this world so no matter what happens crypto currencies and fiat system has a boundaries with each other because government won't let fiat system disappear. And also bitcoin can't be used as a daily money that youcan use in the store because it is decentralized. the price of bitcoin and other crypto currencies are not stable.

audaciousbeing

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Quote from: Jmmerquita on August 06, 2017, 02:15:28 AM

how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? Huh

The transition will happen so far the blockchain is not destroyed and government authorities are being liberal to new technologies such as this then we get to see a smooth but gradual transition.

However, while in some countries because of the advancement of technologies over there or the level of exposure of their citizens to either education or basic technological use, it becomes expedient while to those developing countries, they might not get there anytime soon but the sure thing is that they will get there.

My concern however, is that the transition might not necessarily be for bitcoin because a lot of countries sees their currency as their identity and if they want to adapt to a new technology such as this, they would want to still keep that their identity which is the reason why we might see a lot of state backed digital currencies in the near future.

nomad1109

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Fiat and digital aren't opposites. A digital currency can be fiat. Fiat simply means that there's no tangible asset behind the value of the currency. The value comes from market forces, "the invisible hand" or whatever you want to call it. If what you mean is how the transition into decentralized currencies will be, I don't think it will happen. Governments won't give up that kinda power.

SushiMonster

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I'm going to eat your cookies

First and foremost, bitcoin should be widely introduced not only on social media but also on university as well.
Economic class should introduced the concept of bitcoin to students since majority of the users of crypto currency will be on this generation then I think everything else will follow.
Transactions has already started being paid thru online and introducing bitcoin will just be the start of accepting it as a legal form of currency.

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