Will crypto replace fiat money? - page 26.

CARrency

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Quote from: 1inside1 on November 21, 2017, 01:27:43 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)

Crypto currencies are mostly decentralized, if this will be replacing fiat in the future, then I can conclude that there will be a lot of crypto currency that is not decentralized and I think if that happens a little population of people will just be using that because they don't want to use a crypto currency under the hands of the government.

Most of the people that use crypto currency is because they wanted to use a currency freely and also without that big fees to send. For now these crypto currency will not take over, but if the government decides to use crypto currency, it is obvious that they will make their own, but expect it that it will not be a decentralized currency.

John Langut

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It's like I said only possible if crypto reforms the whole world and society. First we must remove the underlying causes that makes things like tax and fractional reserve banking a reality.

Chachacoin17

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Quote from: John Langut on November 21, 2017, 05:37:40 PM

Central banks want to keep control over currencies to influence the economy, for better or worse. It is the reason why the gold standard was abandoned abd replaced with fractional reserve banking. It is everything Bitcoin is not. Crypto will replace only fiat money when governments are replaced, maybe even the whole society is replaced.

I think it is really impossible that the crypto replace fiat money because crypto is really different from the fiat money.it is not really a money that sailed by the government maybe it is only an kind of investment.while fiat is a money that sailed by the government property and it should be used to collect taxes,orcpay everything wuth its corresponding country.so then it is really impossible that the bitcoin can replace fiat.

John Langut

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Central banks want to keep control over currencies to influence the economy, for better or worse. It is the reason why the gold standard was abandoned abd replaced with fractional reserve banking. It is everything Bitcoin is not. Crypto will replace only fiat money when governments are replaced, maybe even the whole society is replaced.

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Quote from: johnrickdalaygon on November 21, 2017, 04:57:47 PM

Well i guess its YES Cheesy

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

Maybe.But as of now i think it's far from being possible.Yes cryptos at the moment are really famous but it's not yet implemented by the government.And since it has its own decentralized system,i think the government would find it hard to trace all its users.Maybe after long,long years the government will acknowledge cryptos if they are still existing by that time.

mangenta

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why you dont mention BTC

BitMaxz

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Quote from: 1inside1 on November 21, 2017, 01:27:43 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)

No its impossible to happen that bitcoin or other crypto currency will replace fiat.. thats impossible to be happen..

Quote from: dawoodkhan97 on November 21, 2017, 04:54:18 PM

It is too soon to tell as bitcoin is still in its infancy stage
and has yet to become mainstream and adopted by the
public.

I don't think it will replace fiat currency in at least 10 years
or more. We still have a lot to achieve and I believe this is
only the beginning of a revolution.

Well i think bitcoin will not become mainstream in terms of payment processor since bitcoin is not reversible there other people wanted to be safe in buying online .. There are pros and cons of using bitcoin and other people like to use paypal as payment mode because of reversible policy....

Quote from: johnrickdalaygon on November 21, 2017, 04:57:47 PM

Well i guess its YES Cheesy

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

No it will not happen even in the future..

HeRetiK

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I doubt that cryptocurrencies will ever replace fiat, at least not cryptocurrencies as we know it -- ie. the permissionless and independent of government type.

Whether some sort of government "cryptocurrencies" will appear is a question of its own, although I doubt the viability of this concept. Either way, in my opinion cryptocurrencies are going to play a large role as a means of payment, regardless of whether it will complement or replace traditional money.

100%succes

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Quote from: 1inside1 on November 21, 2017, 01:27:43 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)

The development of the world raises the need for a fast, secure and confidential payment system. The payment system is a mechanism that includes the arrangements used for the delivery of payments through the exchange of values between individuals, I think crypto money will not replace fiat money.

johnrickdalaygon

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Well i guess its YES Cheesy

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

dawoodkhan97

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It is too soon to tell as bitcoin is still in its infancy stage
and has yet to become mainstream and adopted by the
public.

I don't think it will replace fiat currency in at least 10 years
or more. We still have a lot to achieve and I believe this is
only the beginning of a revolution.

1inside1

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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)

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