What would happen???

[Mohammad Sultan 857]

Hello dear I am curious about knowing what would happen in the future? Everyone knows that Cryptocurrencies are growing very fast and soon it would be used in all over the world and work as a single currency. So 

Questions 

1 Would it be able to replace fait currency totally mean there would be no concept of fait currency

2. If it happens then can we say that there would be no fluctuations in the value of Bitcoin

 

Waiting for ur valuable replies and hope u would give a heart reaction if u find my useful

Edited January 1, 2021 by Mohammad Sultan
For some corrections

[Syedbesharat 5423]

The crypto is adopted from many countries which are relatively are Germany, Turkey, Venezuela, Japan, Switzerland, South Korea, Russia, Dubai, Nigeria, Columbia where some of them have fully adopted some are in the prices taking precautions.The ball is in crypto court but it will take sometime for crypto to gain more trust of world government and become main medium for payment. For the first step crypto needed to become secondary payment option against fiat and then grow by showing its efficacy. Before that fiat isn't gonna disappear from world. 

[Muhammad zaid 272]

Yes some countries are fastly work for digital currency like example of china china is development county and his know the value of digital currency

[Khan 1414]

19 hours ago, Mohammad Sultan said:

1 Would it be able to replace fait currency totally mean there would be no concept of fait currency

2. If it happens then can we say that there would be no fluctuations in the value of Bitcoin

First thing is that both Fait and crypto has its own place and the other thing is that Crypto can't be able to replace the Fait in almost next 10 Years.
Second thing that Flucations is normally in digital currencies.

[Amr90 1064]

Fiat money cannot be exchanged.
Governments will not let their currencies die because the entire government economy is based on the strength of the country's currency,
Crypto will be located next to the regular currencies and commodities approved in the exchange,
It may be more popular, but the time of Fiat Money will not end unless governments are able to organize a new currency for dealing, and it will often be an electronic currency,
Bitcoin's strong volatility does not allow it to be a daily trading currency among people due to the rapid price movement.

[cryptovlek 2597]

These questions if they come true it would mean that bitcoin will be used for anything instead of fiat money. You ask if it is possible but we can't predict about that. For the time being Bitcoin can't be used like that because of high fees and the transaction speed which requires six block confirmations for a transaction to be considered valid. This makes it an hour for each transaction.

[Sykkuno 2887]

Governments are having plans and will soon have cryptocurrencies like digital euro and dollar. There are questions about who will be controlling them but probably it will be the central banks. There are systems created today that will affect the financial life of a century. 

[percare 3192]

On 1/1/2021 at 7:08 PM, Mohammad Sultan said:

there would be no fluctuations in the value of Bitcoin

Bitcoin is not a stable coin it will keep having fluctuations even if it becomes a currency used by many. Price will always be changing as there is no mechanism for Bitcoin to keep it stable. And if it reaches there the dollar price will not matter.

[Whited35 15285]

Let me answer your questions one by one. 

On 1/1/2021 at 10:53 PM, Mohammad Sultan said:

1 Would it be able to replace fait currency totally mean there would be no concept of fait currency

It is very hard to replace fiat currencies totally by cryptocurrencies within next decade or even more in my assumption because developing countries should be able to accept blockchain technology technically. Instead of replacing fiat currencies completely, I think the world will be at least ready to accept interconnections between crypto and fiat currencies. 

On 1/1/2021 at 10:53 PM, Mohammad Sultan said:

2. If it happens then can we say that there would be no fluctuations in the value of Bitcoin

Nope. Despite the world completely adopts Bitcoin, fluctuations in its price will be seen. If Bitcoin becomes a stable currency than it can no longer be crypto to be in a strict decentralized model to give freedom to users because its price is determined by backed technology and crypto community. Mass adoption of Bitcoin does not mean it has to be stable but there will be more volatility in its market 😉 !

Edited January 7, 2021 by Whited35
Minor error in texts.

[zhoutong 2188]

Bitcoin is a currency but it isn't being used as that for the time being. Bitcoin when scaling fees are increased making it not reasonable to be used for small transactions. It can still be used for large money transfers and there are examples of being used for that. But as money for all of us with the current system it can't be used instead of fiat.

[Serbberq 724]

Cryptocurrency will not replace fiat currency entirely, it will dominate many sectors but still fiat will be useful allot that illetrate will still prefer to use fiat than any digital currency. 

[bogdanoff 3173]

If the fiat currencies don't exist then there won't be a point of reference for Bitcoin, like today we have the value depicted in USD. We can have Bitcoin as the standard and other assets valued in satoshi terms.

[miskyming 1588]

We don't know if that really happens in the future replacing the fiat money and we use cryptocurrency. Maybe it will happen in one hundred years I guess. I don't know if the government will accept this to replace fiat because you know cryptocurrency is very volatile the price is up and down.

[Hanbal 359]

There is no any speculation or indication which shows that cryptocurrency will replace fiat currency all what i can say is that cryptocurrency is the future currency but will not completely replace fiat currency , because fiat currency still have value.

[nykas 2812]

Cryptocurrencies can`t replace fiat money in its current form, but they can be really useful in many spheres and blockchain technologies can absolutely change our life and whole the world. I don`t like predictions, because everything can happen, but I hope this technology won`t die in the future 

[yonkii 3205]

There will always be volatility because Bitcoin is not an asset that is stable, there are stable coins that react to be pegged with the dollar, these are stable but may also one day have problems and lose their identity and value if something bad happens, like regulations against them. But Bitcoin is traded in so many exchanges and there is not going to be this kind of stability for its price.

[maarcoferrer 1096]

The best I can say is to focus on what we can control, the truth is that if that moment came we would surely get used to it and adapt to the new economy. That may happen, but not out of the currency we know today. Surely there will be things more advanced than cryptomonies or the same. And that will be so for years, the important thing is that we adapt and be in constant evolution.

[Kanji 965]

Crypto cannot replace the old,  its really important we find that key , the two cannot merge but they can work together, there is a lot of work to really define the solution, I think the both of them will be good and effective together to complement each other this is real and right for so many people, crypto should not replace the old but they should work together .

@davy22 @YASIR KHAN @yonkii @nykas @Hanbal @miskyming

[Cryptolover😍😍 990]

@Umar 1619 and @Haibat khan I'm agree with both of you. As we know that the demand of bitcoin is increase so much and it's break all the last records of the history and now mostly people are joining the Crypto currencies due to bitcoin. It's it's growing I hope it will be possible very soon as we want.

[godislovefll 1880]

This pandemic was another point in favor of cryptocurrencies since paper money is one of the main in transmitting the virus, therefore the digital era may begin soon, and this would take the role of cryptocurrencies as the central axis of everything, I think that each region or country will create its own local cryptocurrency in order to have control over these, you just have to wait and see if this happens.

[Alsh9 1007]

The future may be good. Cryptocurrencies may flourish and be adopted by most governments, which helps increase their prices and popularity. This is what I hope. I want to keep my currencies in order to make a good profit in the future.

[Munirkion 82]

If crypto is adopted I will say it will be a good idea for the country that adopt that but to truthful with you base on my own opinion if crypto is adopted it will affect some economy development of some because it have no specific price 

[yulitzacalvete 1366]

The fiat money may still stand and will be used but you have to see the benefits of cryptocurrencies in comparison with fiat money so that in its entirety you could simply use cryptocurrencies and there would no longer be fiat money.

[tienda 8776]

Cryptocurrency will never replace the fiat money, we are talking about the digital currency, and we have a physical currency fiat money. May will be possible if fiat money is a digital currency, but it is not. For this reason is impossible cryptocurrency will replace fiat money. But yes e-currency service will disappear.

[Ameralsamt 2558]

My friend, I think that in the future, if Bitcoin and other currencies are adopted as global currencies, daily market trading, this will be the reorganization of cryptocurrencies, the removal of counterfeit currencies from encryption, and the stabilization of the price of Bitcoin, there will never be a volatile market.