Will crypto replace fiat money? - page 16.

RKSummer

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Quote from: johnrickdalaygon on November 21, 2017, 05:57:47 PM

Well i guess its YES Cheesy

but it will takes many many years before its all implemented in all over the country.

I don't think that crypto can replace fiat money. Fiat will still be used eventhough cryptocurrency specifically Bitcoin to become the future currency, because fiat (traditional currency) is one of the identity of country, it can't be replaced. And not all government accepts crypto. And actually some of them banned the use of cryptocurrencies.

Elmughni

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Quote from: 1inside1 on November 21, 2017, 02:27:43 PM

I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)

I think It is possible. Crypto will replace fiat money. In the future Crypto currency will dominate in the transactions.

rabs

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Quote from: 1inside1 on November 21, 2017, 02:27:43 PM

I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)

It can be possible but not in near future,Still cryptocurrency is illegal in many countries over all the globe and majority of population unaware about crypto.When coomon people demand it in majority government take it serious to allow common people get benefit.So there should be seminars to aware the people about the crypto that government realize and make it as legal.
The coins you mentioned i think no one will took place may be Bitcoin will be the global currency.

Roadarks02

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Quote from: Mentari78 on May 30, 2018, 02:15:03 AM

Cryptocurrency is very difficult to replace fiat currency, which will happen maybe blockchain will be used for interbank transactions as conventional currency. Cryptocurrency serves only as transaction token.

The crypto will not replace the fiat money since the cypto is volatile and it is not legal in some country. Also the government and the bank will disapprove in replacing fiat money with crypto. Maybe in the next decades where the technology is more advance.

cahgantenx

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Quote from: 1inside1 on November 21, 2017, 02:27:43 PM

I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)

Perhaps the next 10 years the digital currency can replace the fiat currency because the future of the world will be a digital system. Inevitably all aspects must follow the development of the existing era

letua

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If we will see the adoption of bitcoin in one country and another country. There will have a massive news about cryptocurrency. If almost human knows about crypto we are at hand of the crypto revolution in the world, probably that will be the perfect time to turn your fiat to crypto. While we are not there stay tuned and secure your money.

Mentari78

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Cryptocurrency is very difficult to replace fiat currency, which will happen maybe blockchain will be used for interbank transactions as conventional currency. Cryptocurrency serves only as transaction token.

beckham88

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Yes it will replace fiat in the ner future. When that time comes bitcoin and altcoin holders will greatly rejoice.

libert19

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Nope, Crypto is too complicated to be used as regular money. One mistype and your money is gone forever.

Banks and crypto should go hand in hand for a better world.

millgates

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It will not replace fiat money but fiat money will be replaced by other type of currency. Many people in the world are facing many trouble when they use fiat money. Inflation, unpractical, slow, virus spreading/atleast germs, and low intrinsic value are worst thing about fiat money. May be will back to use gold as medium of exchange, or maybe cryptocurrency that based on gold.

jemarie20

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If I`m not mistaken some country are planning to be no cash money country, so in that point I think crypto will replace piat money maybe by using cards and other form of transactions through crypto world.

PalindromemordnilaP

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It has been a talk for years since the rise of bitcoin's popularity and its usage bringing forth the vision being written on Satoshi Nakamoto's White Paper. But despite bitcoin's success, we can't deny one of its major drawbacks that we can not really use or make any transaction on the blockchain when we are not connect online. With that, i also think that a cashless society is unlikely to happen in the future if these drawbacks remain unsolved.

bajigur894784

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I think it is difficult, because in terms of economy, Bitcoin and the like are not suitable to be primary currency or replaced fiat currency. This is due to the fact that Bitcoin's supply is limited.

When the demand for bitcoin is high, it will make the value is increases. In other words, there will be a phenomenon called deflation. What will happen is the same amount of money will be used for more goods. Alias, the price of the goods will fall.

This situation is very 'toxic' to a country's macroeconomic, because everywhere, deflation will always lead to hoarding, or the hoarding of currencies.

basyang

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Quote from: 1inside1 on November 21, 2017, 02:27:43 PM

I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)

Well,this had been asked for so many times already in this forum however, I will over and over answer its a No, fiat/physical money can not be replace of a cryptocurrency/digital money in the internet but it can be a one of the currency can be used in the country. for me, its hard to identify how long will it takes to becomea legal currency because as of now, for sure the goverment is studying bitcoin before they makea regulation for it. Well, many coins but I think it will be Litecoin because it has a future just like a bitcoin.

Ishiro5

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Maybe not completely but certainly, cryptos would become more dominant over fiat money as we progress, but that would not happen in a few years i guess.

keninu

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I do not think so, if only this would take a very long time. Cryptocurrency and fiat Money are different even though they actually have the same function. and I am sure along with the times, Cryptocurrency will continue to grow, and will run along with the Fiat Money in accordance with their respective Functions.

Pero20

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I think that could happen in the future. Now there are still many contries that don't have faith in bitcoin.

Coinnosaurus

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I think crypto will replace fiat money. This is logical and expected. The cryptocurrency is getting to spread in a clear form now and as seen it is unstoppable

Bestthefriend

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Its a long shot for crypto to fully replace Fiat. Most people are accustomed to using Fiat all their lives and might be reluctant to make the switch to crypto, There are however a group of younger generation enterprising and experimental enough to try out BTC, this group might switch, but not the older generation

Faxmate

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Quote from: dillema018 on May 29, 2018, 11:43:03 AM

In my opinion, think it is possible, in this digital age, any electronic money can replace fiat money, It is more secure and has a really fast transaction than fiat money.

Bitcoin has already done this act as now people are educated and it is modern age where almost every marketing system is converting to digital payment system, so now bitcoin is our need of life, if you can see bitcoin is being use by almost every shopping malls, even at some small towns now bitcoin is so famous that people over there are using is as direct payment methodology, so to me as well bitcoin is best source to pay for all kind of goods, more easier to sue than paper money.

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