Cryptocurrrency vs. Fiat currency

[BTC Future 3946]

3 hours ago, Dimba89 said:

There is a difference between cryptocurrency and fiat currency, cryptocurrency is digital currency, and fiat currency is cash of every country, crypto currency is much more expensive than fiat currency, crypto currency is the best currency in the world,

The difference is all about trust. Fiat currencies are Central Bank printed national currencies which are not backed by anything besides trust in your government, your economy and financial system (public or private).

Bitcoin and a few cryptocurrencies are trustless systems. Meaning that there is noone in control and you don't need to put trust to somebody to do his job. With cryptocurrencies the only thing we trust is the code. And the code is programmed to be exact and never fails.

 

So is is up to the citizens to choose.

[mirazlama530 17]

Well both have their own importance cryptocurrency is developing to became a new era currency and virtually strong whereas Fiat is already a backbone of any country 

[rahmi777 320]

I think that with the passage of time this will become possible digital currencies little by little it will become a substitute for it 

[Naylor89 1223]

I don't think that cryptocurrencies will be the thing that kills Fiat money. In the end, the thing that kills fiat money will be people wanting something better and more efficient than Fiat and something that they do not have to carry around all of the time but they will always have access to. That will be what leads to the end of Fiat as we know it now.

[Izeal 4404]

It's impossible that fiat currency will ever replace the cryptocurrency. Because the fiat currency are the identities of the country and it is controlled by it's own government and any coin cannot replace the fiat currency and crypt currency will work as alternative way for payment.

[TimopheyKa 3900]

Cryptocurrency seems to me very relevant in the digital world, as well as anonymity, which allows you to earn money! Fiat is relevant in real life, to buy things, products. After all, the blockchain system is not yet so developed in our world that we can switch to cryptocurrency

[yato987 2811]

no it is impossible that governments will accept crypto and destroy their own currencies they deal with , so that is why it is illegal now , about the future crypto may be used more than now and turn in type of legal but still think this won't happen in the near future

[gbfisher 1815]

I think it is not possible because most of the countries use fiat money. Their peoples use paper money for their lives. The peoples who have no knowledge about cryptocurrency how it is possible, they use it. Crypto currency never replace fiat money but crypto currency is used for trading and for passive income for those peoples who have knowledge about crypto. Crypto curremcy is an online currency, the peoples who have no any smart phone or internet they cant use crypto. So i think fiat money is never ended. 

[gourav789 2834]

@gbfisher  obviously Crypto is already booked by some countries but I think  crypto currency have good future . but we never compare Crypto to fait currency . because their is 100% population who used fait currency but their isn't more than 10% population who used Crypto currency . their is higher chance that usage of Crypto currency increased in future .

[el-Muhammady 718]

On 9/12/2020 at 12:57 PM, ndadukun12 said:

I am certain that all those countries that ban crypto would soon lift the ban. The world is moving totally to a digital age, without crypto currencies and the blockchain technology we are not going anyway. With regards to those that don't understand crypto, I am sure that won't be difficult to take care of.

My friend adopting to Cryptocurrency in urban regions will not be difficult but believe me adopting Cryptocurrency in rural regions will be very difficult because most of the people in those part of the world don't know anything about internet talkmore of using it.

[percare 3192]

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

This will be hard as governments will not allow to replace the currencies we use now with cryptocurrencies but probably it will be allowed for some to be used as money and we can use them if we will, although there may be many restrictions to their use by the laws.

[Benjamin 84]

19 hours ago, el-Muhammady said:

Yes my friend and for that reason a lot of work need to done if Cryptocurrency had to be adopted in such areas because the government have to be included in this aspect which will also give crypto difficulties before getting adopted because government of many countries are not in support of crypto till date.

Well, there's only a few countries which is not accepting bitcoin in their place and one of this is the India, i didn't know what is the exact reason why they're not accepting it.

[Aquaman69 217]

Yes, cryptocurrencies can be invested and converted with the national currencies of all countries.  Because.  Cryptocurrencies cannot be used directly.  These are not recognized by many countries.  Because they don’t like it thinking it’s a manipulation of a fraudulent cycle.

[Sykkuno 2887]

We don't know if this can happen and the economy is based on a stable currency that is the fiat we are using and it is inflationary currency, some cryptocurrencies mimic this but Bitcoin has a fixed maximum supply and for this reason it is very hard to become a coin used instead of national currencies, it has other features that make it better as an asset.

[Benjamin 84]

20 hours ago, Aquaman69 said:

Yes, cryptocurrencies can be invested and converted with the national currencies of all countries.  Because.  Cryptocurrencies cannot be used directly.  These are not recognized by many countries.  Because they don’t like it thinking it’s a manipulation of a fraudulent cycle.

Well, that's true mate but there is a tendency that it may be used with fiat currency together in the future by accepting of many countries in terms of payment method so if we want this to happen, kindly support cryptocurrency.

[BrolySSJ 7899]

I do not see crypto ever replacing fiat currency in the future. One of the important things that we need to consider is that in order to be able to make use of crypto you need to have the internet. there are many areas in almost all countries that are still underdeveloped and are referred to as the rural areas. This areas will not have much technology due to poverty or perhaps they are not versed in the internet and will not have access to it. as a result, i think that they have no choice but to rely on fiat currency. Therefore i think that these will rather coexist rather than one replacing the other. 

[Joli7 25]

Cryptocurrencies are renewing the world economy, little by little they are replacing the fiat currency and it is to be expected, since with the advancement of technology, it is the direction that humanity is going.

[Michael0606 861]

Since cryptocurrencies began, there has been that economic war between fiat currency and cryptocurrencies, although fiat currencies win in terms of volume, those of us who know and have experienced know the potential of cryptocurrencies.

[Oeanartis 628]

Hi everyone. Sooner or later, progress in finance will reach such heights that we cannot even imagine, but I strongly doubt that cryptocurrency can completely replace all currencies in the world. A symbiosis or complete replacement with cryptocurrency is possible in some areas of human life, where all the best digital money will improve life itself. But so far there is an active resistance of the ruling class to full legalization, one can only dream, at least, of a partial introduction of cryptocurrency into human life.

[bldthslr 116]

In this form, the cryptocurrency is unlikely to squeeze out fiat. I believe that the world will come to a certain "compromise" - fiat money based on blockchain. They will interact with the crypt in our understanding, and with the ordinary fiat world.

[Randall80 147]

At the moment it is very difficult for cryptocurrencies to replace fiat money, if the transition happens it will last many years. It may be that in some aspects of life they can be implemented to facilitate some transactions or receive money or make payments, but for the economy to become totally cryptographic it is very difficult for it to happen at least not at this time. Cryptocurrencies must be seen as an alternate economy where we can earn money but fiat money is still indispensable.

[ajabe2 1485]

Both crypto and fiat have their individual uniqueness. Remember, the Fiat has got the legal backing of the governments and it is also the final exchange pairing of every cryptocurrency. I think cryptocurrency and fiat will coexist to maximize the provision of enhanced payment methods.

[Anarchy09 138]

Fiat is a more stable currency in the long run than cryptocurrency. However, it turns out to earn much less on Fiat. Due to the high income in cryptocurrencies, they have greater risks than Fiat. If you can invest in Fiat and cryptocurrency, distribute your balance correctly to minimize risks.

[hassan7951 25]

If this were to happen I think it would be great because the continents would be linked in trade and in exchange, everything will be stable, I believe it will be a start towards a better future.

[ShiNorton 906]

I like cryptocurrency  more than fiat currency. Price of cryptocurrency  keeps rising and falling according  to situation  and I like that nature to earn money from cryptocurrency  tradings. Fiat currency  is also needed for so many cases.