Cryptocurrrency vs. Fiat currency

[Mella 3680]

On 11/7/2019 at 12:04 PM, Ritchie said:

Can cryptocurrency ever replace all currencies in all countries? And what will happen to the world if thats gonna happen

My dear I am not understand what you are mean with cryptocurrency. Bitcoin is a cryptocurrency, Ethereum Ripple Tether Bitcoin Cash Litecoin Dogecoin Waves and thousands more are cryptocurrencies. What do you mean by crytpocurrency. One of them, all of them, the cryptocurrency tech?

[Brandonsaw 1973]

If this is very likely to happen, they replace physical currencies with cryptocurrencies and I think that many people are waiting for that moment to come because it would be very great that happens.

[BraveHeart01 1569]

Cryptocurrency  can never replace  other currency  ever there are possibilities  of over taking  fiat currencies  but the replacement is not possible even in centuries 

[han4036 307]

A lot of rules weaken cryptocurrency so I don't think I can replace fiat money and cryptocurrency has not been adopted yet and we can't do all kinds of transactions but we do a lot online through this cryptocurrencyNothing can be done and fiat money is protected by law in every country but cryptocurrency will go a long way

[hasaan 289]

Fiat have been used as a final media of all kind of transaction, but still now the position is far away from the crytpocurrecny. But the crypto sis doing well in the financial system of the economy, we all know that. May be the government will going to be adopt the system because the crypto is decentralize. 

[cooperallch 349]

This may even be possible if they used a stablecoin cryptocurrency as it would be safer and more interesting for everyone .. or if they fixed the price of Bitcoin so as not to fluctuate. then I think it would be possible

[Fixfin 2569]

Cryptocurrencies are a better way to make transcations and better money, it is not that there will a battle between them but it will be what the world will decide to use. If the cryptocurrencies are found to be better it then will happen. We have to wait and see about that and be doing more to promote them. 

[Mridul Rahman 1058]

I don't think that will happen. We need a real currency to improvise a society or a country. We know that crypto can not be controlled by the government. So they can't have taxes from cryptocurrency. That will bring a huge effect in economy. So that's why it is not possible.

[Umair976 10]

I think this will not happend and impossible because cryptocurrency is totally different from fiat currencie. One is the reason that some countries are banned the digital currencies. They don't want work on it because there are many problems by using this, many time scammers can scam the currency easily. 

In future maybe this will be happend when everything is computerized all over the world. 

[VijithaVarghese 1994]

Cryptocurrency is basically digitalized money . It might imply in many places but I don't think it's going to be as applicable flat money. The instrument for cryptocurrency isn't supported everywhere in the world. Still there are chances as the world is innovative.

[Russel 017 506]

Cryptocurrency is a digital currency which is used in trading, gambling etc. Fiat currency is currency which are used as a physical money that we can touch. The difference between fiat cuurrency  and cryptocurrency is for transaction taxes are needed in fial currency but taxes are not needed in cryptocurrency 

[Zeshan Khalid 2577]

In my opinion, so far fiat currencies have the lead as they are regulated and more secure. Developing and third world countries only have awareness about fiat. Even in developed countries crypto is used to earn fiat.

[leakydonney 1402]

Normally Cryptocurrencies can not replace fiat currency worldwide because Cryptocurrencies are considered not to be a legal tender in any jurisdiction including their use for illegal activities, exchange rate volatility, and vulnerabilities of the infrastructure underlying them because they can't be controlled or regulated by any government authority.

[Amiami 1362]

No country would give up its economic power to a totally decentralized network where those with the greatest financial mass rule, nations would have to renounce a part of their sovereignty since money is part of the culture of each country, dreaming of something like that is almost  Utopian.

[joemcgwa 3227]

On 11/7/2019 at 1:04 PM, Ritchie said:

Can cryptocurrency ever replace all currencies in all countries? And what will happen to the world if thats gonna happen

The problem is that you guys are thinking that's  cryptocurrency has very big impacts in this world, but actually crypto is just normal and cannot be eligible to competitor of fiat currencies.

[1qDan 478]

Considering the decentralization of the system that surrounds cryptocurrencies, I dare say that it is almost impossible, since each country has a currency that has a value compared to another, eliminating that balance would cause the world economy to collapse or wobble until find a balance.

[khan22 3478]

On 11/7/2019 at 6:32 PM, Great Commander said:

No, not now. Flat or paper currency is still widely used by different countries and a medium for every transactions. Cryptocurrencies however needs to be adapt around the globe in order to build that idea or at least understand how ot works.

Everyone know that fiat currency is using every where but in the future almost all the world use the crypto currency and the fiat currency usage is going to be finished. Now the market is so much famous and so many peoples will invest their money in this business but still market not go to high, but it touch high when it is going to be legal.

[Syedbesharat 5423]

14 hours ago, Amiami said:

No country would give up its economic power to a totally decentralized network where those with the greatest financial mass rule, nations would have to renounce a part of their sovereignty since money is part of the culture of each country, dreaming of something like that is almost  Utopian.

Many 1St rate countries economy is damage by corona virus in 2020 ,many big gigantic companies and air lines  bank corrupt. Now they are making crypto and fiat money joint banks to introduce crypto through banking system people can buy, sell and save their assets in bank. The stand of those countries against crypto is changing and they are bring bills in senate for crypto policies. 

[mzk7736 1592]

Internet is not available all around the world that's why it is not possible for everyone to adopt crypto currency. Also fiat currencies are backed by countries that's why they are difficult to compete with.

[Dormilon 2183]

On 11/7/2019 at 6:04 AM, Ritchie said:

Can cryptocurrency ever replace all currencies in all countries? And what will happen to the world if thats gonna happen

@Ritchie If you refer to the ones that already exist such as BTC and the others, I do not see that in the medium term they can replace the money that is used in local economies, I even see very difficult that they will do so at some point, what if you could be They are alternatives in business between people who protect their assets in cryptocurrencies, governments are already promoting the use of digital currencies to make transactions between countries and local businesses, but that currency will be centralized and will be under their control, which is not It is the essence of cryptocurrencies, that is why I see it unlikely that crypto will replace the currencies that exist at this time called fiat, the fiat will change to digital, but they will continue to have the same horizon that they have right now as paper currency, only the security and how to use them, I mean as means of payments.

[Jaafar Fahad Hassan 114]

That may happen , it may, but it difficult for that to happen, not all countries accept cryptocurrency, the government of all nation would want to have control if the way money circulate their nation, so that why it would b very difficult for that to happen

[Bond07 166]

On 11/7/2019 at 4:04 PM, Ritchie said:

Can cryptocurrency ever replace all currencies in all countries? And what will happen to the world if thats gonna happen

It is excess my dear. Maybe you are a great crypto friend but it isn't gonna happen in this century in my opinion. We still need to work so much to engage more people with crypto world.

[Alimhana930 1605]

This may be possible in some areas in my opinion, as you replace it completely and use only cryptocurrencies But at the level of the world, I see that these two types of currencies will be merged to create a flexible and easy financial system between them and their dealings.

[sarahmoses202020 251]

On 11/7/2019 at 11:04 AM, Ritchie said:

Can cryptocurrency ever replace all currencies in all countries? And what will happen to the world if thats gonna happen

I don't think that crypto would replace all world currencies. The currencies of each country is powerful and they wouldn't want to give up their currencies for crypto. Although they might be investing into crypto one way or the other but I and sure that it wouldn't affect the country's currency.

[muniral4422 185]

There is a possibility that this would happen but I am that the government would also move to decentralized government very soon. So if the world is decentralized then we can use decentralized currencies without any worries.