how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN? 
People adopt digital currency if they know how to use it.
Topic: transition FIAT to DIGITAL? - page 4. (Read 1801 times)
People adopt digital currency if they know how to use it.
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.
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.
Yes 100 years or more maybe. It is really hard to accept this. How will large nations react on it. Foreign Exchange will be extinct which means every country will just have the same currency. Gold reserve will not be important for a country's economy.
Maybe before we reach a world using just crypto currency we need to have a stage first that every nation has a single currency.
Hopefully when we reach the stage that crypto currency is the new fiat it will still be bitcoin not just a government generated crypto currency.
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
First thing, bitcoin is not only digital currency, it is 'digital crypto currency'. There is this difference. When we say online transaction what is that isn't it a digital money. Earlier plastic money (credit card) was there. It is still being used. Now mobile paying technologies are there. So people are using digital payment systems. With complete digital where there is no chance of seeing you money like fiat (actual you could see you bitcoin in paper if you convert in in paper wallet, this is closest to the physical form of crypto). There wont be much problem for people once they get used to the concept. there many tokens available with different purpose in purchase.Once the transaction time is lowered withing minute or so, majority people will find it easy to operate with.
the use of digital currency may be for some people who already know the internet must be familiar with it, but some people out there still use fiat currency because they may not be used to using digital money and maybe it is easier to do for those who have not been too both in accessing the internet, and more tends to use fiat currency as a means of payment, may take time for everyone to get used to knowing and using digital currencies
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
Definitely, it is very hard for someone who is not that technically good when it comes to technology to adopt such kind of digital currency that is why in some areas or part of the nation specially in some provinces that doesn't have gadgets and even internet they cannot even recognize what is BTC means because they cannot even know how to use a cellphone and even know how to use internet.
People might find it difficult to adopt the technology of bitcoin especially those who are not literated enough since the only way to access cryptos is thru internet it is important that the people will learn it. I think the process will take long before the full adaptation of digital currencies
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
Start with online banking, introduce backend as blockchain related currency, have the app auto convert the value.
That might confuse people since their balance is changing so probably would need a cash side and a cryptocurrency side with a note on the screen that the prices are changing over time.
Done and implemented.
The digitization of money started one with the ATMs, credit cards, online shopping and so on. Regarding the crypto currency, there is another story. It won't be easy to accept the crypto technology but, i consider that every day practice will help. When people will say that everybody is doing it then why shouldn't he do it so, it's just a question of time and practice.
Right, but of course before all of this happen regularly, bitcoin must first be legalized. Before we can fully adapt bitcoin in our daily life, it should be first allowed by the government. That is just sad because bitcoin was made for all people but as soon as the government recognize its usefulness and puts up bars around I am sure that bitcoin will no longer be as how it used to be.
The digitization of money started one with the ATMs, credit cards, online shopping and so on. Regarding the crypto currency, there is another story. It won't be easy to accept the crypto technology but, i consider that every day practice will help. When people will say that everybody is doing it then why shouldn't he do it so, it's just a question of time and practice.
That is good the transition of fiat and digital has already started we are bound to digital currency world , because as you can see many departments and stablishments have shawn accepted payments through bitcoin. The centralize process of bitcoin from the country of Japan, USA follows many countrymen to suit implementation to cryptotechnology due to many users request.
The digitization of money started one with the ATMs, credit cards, online shopping and so on. Regarding the crypto currency, there is another story. It won't be easy to accept the crypto technology but, i consider that every day practice will help. When people will say that everybody is doing it then why shouldn't he do it so, it's just a question of time and practice.
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
People can easily adapt digital currency because of its characteristic. It is easy to use, easy to transfer and many more.
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
Digital currency has been around for 30 years!
Credit cards, debit cards, ACH transactions, bank balance movements online - that's all digital currency.
What you're asking about is CRYPTO currency. It's very different. Crypto currency involves an encrypted security to it that verifies that the bitcoin in your wallet is actuall bitcoin.
How will people adapt? It'll start as an attraction to a new investment, asset class, and then will evolve to acceptance as currency (particularly after the price has stabilized somewhere)>
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
yes it can all happen, because fiat or banknotes are now inefficient if always in use up to 10 years to come will make the paper raw materials of wood from the trees will run out. if all did not change into the digital world then the world will get hotter. 
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
It is not that easy to adapt a big change where fiat currency will vanish and be replaced by digital currency. It is difficult mostly to elders, cause not all of them adapt the modern technology. Many of them, do not prefer using online services instead they still stick to process they already know. Like paying bills, they would rather go out than pay it online. Fiat currency will not be replaced by digital currency as easy as others think, it may took many many years for people to adapt this thing. There must be a proper way to discuss things about bitcoin to let people know and be knowledgeable about it. how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
That conversion should get easier as time goes on and as Bitcoin goes more mainstream. There are only a few ways to convert currently with localbitcoins and a few companies like Coinbase etc. In the future more businesses will open to do this and eventually banks will probably need to adapt to convert between Bitcoin and fiat. Banks that don't do this will begin to fall behind and lose customers.
Probably the technology will update soon because of the cryptocurrency potenital i think it can be used as a payment method for buying usual stuff also will be improved the techonolgy to confirm transactions faster then it usual and it will help for businesses provide payment
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
Start with online banking, introduce backend as blockchain related currency, have the app auto convert the value.
That might confuse people since their balance is changing so probably would need a cash side and a cryptocurrency side with a note on the screen that the prices are changing over time.
Done and implemented.
how will people adapt change from FIAT CURRENCY to DIGITAL CURRENCY like BITCOIN?
When the internet was made and people realised online shopping was cool and all, then we started to slowly transition over to credit card and all sorts of online payment options, such as paypal, etc.
With our growing society, the transition involved stores adding new payment methods. I think that maybe in a couple of years, bitcoin will be added to a lot of stores and we will be able to spend Bitcoin to buy stuff in real life.
There is a difference - credit cards and paypal managed to add convenience to the way we shop. Bitcoin doesn't do the same. Unless there are discounts offered for shopping with bitcoin, or some other tangible reason, people won't feel the need to change.
In some way fiat today is already partly digital. For example you get paid for your job on your bank account and you spend the money with your debit/credit card. This would be just a few transactions which are completely digital.
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I think adapting from gold coins to paper money was more of a difficult method than adapting from paper money to digital money, this is because digital banking and digitalization as a whole is accepted and used by almost everyone, if not everyone.
Besides that people are used to have their value on digits on screens, think about internet banking, think about ordering something online, this should go smooth if bitcoin or any digital currency would be used in whole world.
The real problem is IF it should hit the world and be accepted, I highly doubt that because corrupt governments and high position fools do not want their wealth and power to be messed with.
Besides that people are used to have their value on digits on screens, think about internet banking, think about ordering something online, this should go smooth if bitcoin or any digital currency would be used in whole world.
The real problem is IF it should hit the world and be accepted, I highly doubt that because corrupt governments and high position fools do not want their wealth and power to be messed with.
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