Topic: Will Bitcoin Accelerate the End of Fiat Currency? - page 4. (Read 596 times)

Fiat currencies will still be used in every country, and bitcoin will not replace fiat money, many of which contradict this, especially the government that feels loss if bitcoin can be present in its country. Bitcoin cannot be controlled by the government and will not be able to make it fiat money.
Bitcoin remains a digital currency that has many benefits and will continue to grow for the advancement of internet technology.

There are a lot of beliefs and perspectives that bitcoin will be the alternative currency to fiat currency in the future. Well, it easily to say that but we need to admit that it's very hard to implementing that or maybe if that is possible for sure it will takes much more years to do that because for now we known that there are some peoples all over the world that has no literally knowledge about this system until now and others are already knowledgeable to it but they can't afford to deal to it or to involved to it because of their poor life of living. However, there's a big chances that bitcoin will be very successful in the future maybe it's only needed more years to be a global currency because there's probably a lot of things that is needed to considered before implementing it.

I don't think so! Come to think of it, what will they use to buy Bitcoin if Fiat Currency will end? Aside from that, fiat currency has been circulating in the community ever since civilizations were developed. Bitcoin will only make it easier to remit money and transaction. It will co-exist with the fiat currency.

As long as there are governments with the ability to create money from thin air, you will have fiat currencies. The only way for them to migrate to a crypto currency substitute for fiat, would be if they control all the nodes in the network and all the development of the code in the protocol.

If they get that, then they will control the coin supply and also the amount of coins and the consensus to enforce these decisions and we call those coins, GovCoins. 

Decentralized crypto currency can not replace fiat. Crypto-currency should not yet set such an objective, and in my opinion, it never had such an aim. This topic is too hot.
All states are interested in preserving their national money and will never decide under any circumstances to replace them with a decentralized crypto currency. Decentralized crypto currency can be so far only additional, alternative to national money, they must complement each other's capabilities, and not replace each other.

While I think that there will be an "end of fiat currency" eventually, I don't think that most of us will live at this moment (well, if there are no drastic advances in medicine or cryonics  ).

First, there is not one, but many fiat currencies. Some currencies collapse, like the Venezuelan Bolívar now, or the Argentine Austral in 1990, or Zimbabwe some years ago. But generally the problems are related to local weaknesses, like an increasing demand for foreign currency and a total loss of confidence by the local central bank.

Second, fiat is flexible. Central banks can do a lot of things as long as there is confidence in the "real economy" of a country or region. Quantitative easing in the Euro area, for example, didn't bring higher inflation as many had wished or feared (depending on their ideology). A fiat currency could even be organized like a cryptocurrency or backed by it (look at Venezuela for a first, very dilettante "try" in this direction), if all other intents to save its value proposition fail.

What Bitcoin can do is to reduce fiat's importance. It can be a real alternative. But it won't touch fiat's value proposal - central banks would simply have to lower the money supply. That could be accompanied by trouble in the traditional banking system, but that would not let tumble a currency as a whole if the central banks are prepared and acting professionally. I expect that in 20 years, thanks to Bitcoin and other cryptos the traditional banking sector's importance will have been drastically reduced. They will concentrate mainly in risk management.

Conclusion: The crypto community can reduce fiat's importance, but that wouldn't happen by a "magic" event like a "fiat collapse". Crypto advocates themselves must take action and establish Bitcoin as a currency.

Before that will happen then Bitcoin must become world currency replacing fiat in which i think it is very impossible to happen as we all knows that not all people can be able to use Bitcoin so how Bitcoin could accelerate to end the fiat currency? If they want Bitcoin to end fiat then they should address the various issues of Bitcoin like delayed blockchain transaction, fees, education of the people and the price volatility.

it is not going to happen. for years people have been talking about the fiat doom and it has never happened and it is simply because fiat is being used even if there is debt and all that it will affect the country and the value of that certain fiat not the whole world's fiat currencies and it will definitely not kill fiat!
bitcoin's growth is just going to be an additional currency that is introduced and used by many people eventually. it doesn't have to replace anything, and it was never meant to replace fiat anyways.

Just like fiat bitcoin is not the one which is using by every person in the world and bitcoin is technical currency which  can be useful for a very limited people of the world or the business community traders can  use it for a good way and not in a single day it will rule over the fiat but for this decades will be needed then may be we can say that bitcoin will challenge fiat in the world.

bitcoin will not replace fiat currency. I think it's too early if you talk about it. need a very long process of perfection. and it seems that focusing on current market prices is better, than talking too far!

Bitcoin was not created to replace the national money of each state, but as an alternative to them, as the best supplement, and not as a replacement for them. Bitcoin and other decentralized crypto currency can only go in parallel with the national paper money of various states and will not replace them in the foreseeable future. This is a very profound error. While there will be states, there will be public money that will serve the state economy. The Crypto currency is divorced from the economies of all countries and has nothing to do with them, therefore it is not able to replace conventional national money.

It is accelerating, but not too much i think. End of fiat currency means peoples using other currency and not using fiat currency anymore.
Currently, the usage of bitcoin as a currency is still occasional. Cryptocurrency still need to be used globally, So it is still long way to end of fiat.

Bitcoin is more secure and potential. it will be very good sign for bitcoin. it is more profitable and probable. its future are very good. it will make more profit in future and its increasing price. it will turn around.

Cryptocurrency will never take over fiat, this will never happen!
What do you think about the poor man in the street that has never used or see any electronic gadget before.

What do you think about the poor beggar in the street that is looking for penny to fill his stomach?

The use of cryptocurrency is limited to those that are into the digital world only.

I have an old woman at home that can read and also doesn't understand English very well, how do you expect people like this to understand Crypto?

yes you are right and it is very good news for crypto people. it will be more secure and potential. its future are more bright. it will do something good. it is more reliable and trusted.

As long as there are countries there'll be governments and as long as there are governments there'll be money they control. It's not going to change.

Even if crypto became huge, governments will still pay out and demand payment in their local currency. There may come a time where people grumble about having to find an exchange to convert their crypto to pay their tax bill, but that tax bill will always be in fiat.

from some point yes but I think that bitcoin is not the main argument of the collapse of Fiat. the world financial system itself is already self-sufficient...

it's amazing to me this is very good news for bitcoin people. it is more secure and reliable. this show are clear any confusion about this bitcoin. i think it will make more profit and do good something. thank you for sharing this link.

That is a really great show for any crypto enthusiast who is still skeptic about the future of cryptos right at this moment. Though I thought cryptos had the power to become a substitute for fiat currency but after listening to such in depth discussion now I am starting to believe that replacing fiat currency is now just a matter of time.

Listened to the full show and to be honest I cannot agree with everything you guys have discussed. Though there were some good insights regarding the current crypto market and how fiat is lagging behind in terms of features that are being offered by BTC but the who discussion sounded like some overly enthusiastic kids got their hands on their first Bitcoin and now they want to conquer the world with it.