discussion What Will Happen To Fiat Currencies If Crypto Ones Are Adopted?

[Bohana 2143]

Hello guys. It is a clear question to discuss. What do you think will happen? Will fiat currencies disappear? Will the to types of currencies work together?

Share your opinion!

[Cammer 4609]

7 minutes ago, Bohana said:

Hello guys. It is a clear question to discuss. What do you think will happen? Will fiat currencies disappear? Will the to types of currencies work together?

Share your opinion!

Good question my dear friend. I don't think that Crypto currencies can take away fiat currencies. But if crypto currencies were accepted by all countries, both of these currencies will work together. It's a good thing though because people will be more interested in crypto currencies if this happens. 

[jacker 1095]

Well, a great question, but I think that money can't disappear, because fiat and cryptocurrency are not the same, the way they work or work with them is also different, it will be a lot of inconvenience. It will complement each other, support each other.

[bliznec 22267]

Most likely, fiat currencies will not disappear, and cryptocurrency will stand on a par with fiat and they will work together. Today, it is already in developed countries, there are cryptocurrency bnkomats. 

[rekter 8129]

3 hours ago, Bohana said:

Hello guys. It is a clear question to discuss. What do you think will happen? Will fiat currencies disappear? Will the to types of currencies work together?

Share your opinion!

Fiat currencies has their advantages, that's why they exist. I am not saying they are all good but governments controlling them are good for the stability of the government controlling it. Society will have to look very different cryptocurrencies replaces fiat or digital cash, and i don't think that's going to happen in our lifetime.

[tienda 8776]

I think if in the future the cryptocurrency will be adopted, will not change the role of the fiat money but yes both with their task, fiat money will be used just for physical things and cryptocurrency for digital things all online transaction.

[Migo 7946]

Nothing big will happen, if the cryptocurrencies becomes adopted then they will be added to the payments system as a second payment method, but the fiat currencies will keep their places, if you are trying to say that they will replace them, then I don't think so, and this is far from happening 

[jekich.chan 1439]

Nothing, they just stop using them at all. FIAT will simply die, because cryptocurrencies will be legal and there will be no sense or sense from FIAT. But everywhere they definitely will not accept cryptocurrency, there are a lot of countries against cryptocurrency, because it is anonymous and it cannot be controlled, the state will not be able to impose a tax on it because of this, many countries are against cryptocurrency.

[Abiaan 1209]

all banks and financial institute will be close or start to reserve cryptocurrency and all transaction can be done by electronic device and humans life start to depending on electronic device 

[kyoukage01 3181]

On 3/15/2020 at 4:00 PM, Bohana said:

What do you think will happen? Will fiat currencies disappear? Will the to types of currencies work together?

Fiat will still be able to stick around even if crypto eventually becomes the preferred method of payment. Digital currencies, crypto included, are quite vulnerable to electronic disturbances. If, for example, virtually every people in a certain city makes exclusive use of crypto, and some freak accident causes the power grids to shut down, business transactions in that city will be seriously affected. Fiat, in cash form, would have served better in these kind of situation.

 

I think it would be better if the two compliment each other instead, instead of choosing one over another. If I render my services at home to a client on the opposite side of the globe for instance, then receive payment via crypto if that person doesn't have a bank account, I can then convert it to fiat to buy supplies at a local store. There are many more instances of fiat and crypto working together this way, which I will leave to everyone's imagination.

 

[magd 5231]

I don't think it will reach that far, so the status of cryptocurrencies will remain as they are, but it will not hide the paper currencies because until the cryptocurrencies are able to do so you must obtain the trust of all governments.

[malik6314193 5449]

Fiat currencies will be there. One pint is that it is far away for crypto to overcome fiat currencies in daily kife and second point is that crypto currency can't be use in daily life so fiat currencies have its own value.. 

[gkapoxm 84]

They will keep existing and both will be used by all of them. It won't be a problem in this case.

[Fedor00 74]

I don't understand why every newbie thinks that cryptocurrencies are going to replace fiat in the future. That's never going to happen, maybe a lot of people are going to use them but they will never replace fiat 

[nickoman987 1040]

Nothing will happen to them, I think that they will only become more popular. Because cryptocurrency is used very often together with fiat. because it’s so much more convenient to withdraw money from sites, less commission.With the popularity of crypto, the popularity of fiat will come

[iloveyobit 6599]

I am not an economist to expect exactly what will happen, but I believe that in the event of the adoption of crypto and blockchain the global financial system will collapse because the world will never need it again.

[BTC Future 3946]

On 3/15/2020 at 10:00 AM, Bohana said:

Hello guys. It is a clear question to discuss. What do you think will happen? Will fiat currencies disappear? Will the to types of currencies work together?

Share your opinion!

It is a nice question, although it would be better if you provided your thoughts on this as well. About the second question which is not well structured, I guess you mean if cryptocurrencies work together somehow. No they don't work together, they have their own blockchains and they work individually.

[Whited35 15285]

If cryptocurrences raised up and adopted by the all countries in this world, here is no doubt there will be very rare usage cases of fiat currency in this world but I still do not think like fiat currency will be completely disappeared from this world. 

[Mishu1234 101]

I don't think fiat currencies will not disappear because fiat currencies and cryptocurrency they both are different things and of cryptocurrency  will be adopted then it will not affect fiat currencies        

[Interface User 1070]

For me fiat currency will still exist but the uses of crypto currency will decrease its usability as a payment options in some things. But crypto currency have a limitations and fiat will help this to stop that limitations. So in short they can become interconnected to each other.

[Maroua 1159]

Not a single blow will disappear, but the paper currency will gradually disappear, this will take some time, but in the end the digital currency will surely take the place of all other currencies.

Edited April 7, 2020 by Maroua

[CryptoMaxim 3829]

On 19.03.2020 at 21:57, sumit71428 said:

Fiat is something which can never be replaced no matter whatever you do as fiat and crypto both are required for this world to make things easier and better for everyone.

This probably won't happen. Cryptocurrencies depend on the network and what if the network disappears for some time. Then Fiat will be used. Cryptocurrencies are an alternative financial instrument and will not be able to replace ordinary money.

[bitcoinb 1359]

@Bohana  In your title you talk about "Crypto Ones". There is no project with this name so can you explain please what is it? Maybe just a bad translation?

Edited April 6, 2020 by bitcoinb

[bentayebsalah 2280]

I do not think that cryptocurrencies will be fully approved and that is why the FIAT currencies will be part of the cryptocurrencies because cryptocurrencies are measured in dollars and FIAT currencies

[Bohana 2143]

1 minute ago, CrimBit2020 said:

Nothing can happen to fiat currencies as cryptocurrencies also depends on it. It is the first best tradition currencies and it is also mentioning and bending towards technology. 

I think both fiat and crypto currencies can work together if the governments start adopting cryptocurrencies. However, not a lot of people know or trust cryptocurrencies..