Can cryptocurrency do away with fiat?

[Sammy9ce]

I think the cryptocurrency world can do without fiat currencies. The problem is we the users cannot do without fiat, because that's what we utilize for our day to day transactions

Yeah true, as far as I know fiat isn't needed in crypto world since crypto/bitcoin was originally created to di away with it, but frankly speaking we the users can't avoid or stop using fiat since it is the only accepted in our country/locality, Cryptocurrency have not been adopted by the mass or even accept them for payment, maybe someday when crypto is fully accepted by everyone on earth then we'll see people do away with fiat.

[Senin]

I think the cryptocurrency world can do without fiat currencies. The problem is we the users cannot do without fiat, because that's what we utilize for our day to day transactions

Yeah true, as far as I know fiat isn't needed in crypto world since crypto/bitcoin was originally created to di away with it, but frankly speaking we the users can't avoid or stop using fiat since it is the only accepted in our country/locality, Cryptocurrency have not been adopted by the mass or even accept them for payment, maybe someday when crypto is fully accepted by everyone on earth then we'll see people do away with fiat.

No, this will not happen. Cryptocurrency is unable to do away with fiat. The statement here that cryptocurrency was created in order to replace fiat, that is, the currency of states, is not true. The cryptocurrency was created to become an alternative to the existing current payment system, and not replace it. States will simply not allow cryptocurrencies to become a threat to the security of their financial system. They always have methods of regulation or even prohibition by which they can actively influence any processes taking place in the state.

[legend45]

Cryptocurrency is a digital currency which is designed & expected to be operated, spent digitally, presently we have USD as the major value of it's distribution, most of us could transact daily after converting or cashing it out in our individual country's currency. USD is a fiat currency value.If crypto currency should mint out their own coin or not,it has possessed a fiat value, Do you think crypto can actually do away with fiat totally?

good question If you asked Can cryptocurrency do away with fiat? No, It will never happen.
The government will always keep their own currency, FIAT money.
because crypto currency need internet connection,
not all places have internet connection

[bayiajaib]

Do you think crypto can actually do away with fiat totally?

Yes, crypto currency can replace fiat at digital era.
Because at digital era, we will see crypto currency dominant.
Fiat money  will be leaved by people
But It will take several years again.
It  will be happen at the coming future.

[Gvent]

Do you think crypto can actually do away with fiat totally?

Yes, crypto currency can replace fiat at digital era.
Because at digital era, we will see crypto currency dominant.
Fiat money  will be leaved by people
But It will take several years again.
It  will be happen at the coming future.

In the future, of course, cryptocurrencies will occupy a very important place in the economies of countries, but it takes a lot of time for them to completely displace fiat. It is necessary for a whole generation of people to be re-educated and get used to cryptocurrencies, since older people are very big supporters of fiat and completely deny cryptocurrencies.

[Gyrgen]

It seems to me that globally, this is unlikely. Perhaps somewhere locally, at the level of some sales networks, or even small states. But everywhere it is not. This is certainly inconvenient in some way, but better than a complete universal ban.

[Google+]

In my opinion, as strong or as expensive as any cryptocurrency, it will still never be able to replace fiat, because fiat in my opinion is more accepted and there are clear rules that currency must have an intrinsic form and can be held in real physical form so that it can be said as money.

[trofim21]

cryptocurrency is undoubtedly the future, but I think that paper money will always be present, this is inevitable for at least the next 50 years, until the Internet appears in every home.

[satpol_PP]

cryptocurrency is undoubtedly the future, but I think that paper money will always be present, this is inevitable for at least the next 50 years, until the Internet appears in every home.

Yes, I think paper money will always be present, because  if be replaced by crypto currency, it will need internet connection.
We all know ,not all areas have internet connection.
So, It will take several years again.

[Master107]

cryptocurrency is undoubtedly the future, but I think that paper money will always be present, this is inevitable for at least the next 50 years, until the Internet appears in every home.

Yes, I think paper money will always be present, because  if be replaced by crypto currency, it will need internet connection.
We all know ,not all areas have internet connection.
So, It will take several years again.

Future will tell. Generation come and go so we might see things differently when that time comes. For now fiat is the basis of crypto value. Without fiat we cannot determine the exact value as we can see even usdt is now in crypto sphere. In the future fiat usdt may invalid if everything will be digital.

[Kitaiev]

I don't think that cryptocurrencies in the next couple of years will be able to become so strong that we forget about fiat. And if it happens that states adopt a digital currency then it will definitely not be bitcoin, in El Salvador this is an experiment and that is an addition to dollar.

[LaZim]

Do you think crypto can actually do away with fiat totally?

Yes, crypto currency can replace fiat at digital era.
Because at digital era, we will see crypto currency dominant.
Fiat money  will be leaved by people
But It will take several years again.
It  will be happen at the coming future.

If this happens, then not bitcoin and not any of the currently existing cryptocurrencies will be used for payment. These will be ordinary cryptocurrency dollars, which are provided by the state. To pay in everyday life, you need a less volatile currency.

[Master107]

I don't think that cryptocurrencies in the next couple of years will be able to become so strong that we forget about fiat. And if it happens that states adopt a digital currency then it will definitely not be bitcoin, in El Salvador this is an experiment and that is an addition to dollar.

Crypto currency is getting stronger, bigger and wider more than expected and triple the people's global awareness about crypto. How's that possible? Basically the NFT and gaming industry has a lot of contribution to open up the mind of the people that crypto is not all about ponzi and scam as what the people normally think.

The proof is already prepared and now is so evident and couldn't neglect the fact that cryptocurrency is becoming strong.

Well, with regards to forgetting fiat. I don't think it as easy task since the world is so much fan of fiat. That is why as you can see the wide range use case of digital transaction not limited to cryptos. Money, ticket payment, bill payment, rent payment, insurance, education, negotiations, and etc.., are the door to easily embrace how crypto works.

The world are getting close to crypto use case though it might take some time yet the effect is slowly but surely. Big impact cannot be denied.

In the future fiat is possible be intangible value (who knows).

[dekafee79]

I don't think that cryptocurrencies in the next couple of years will be able to become so strong that we forget about fiat. And if it happens that states adopt a digital currency then it will definitely not be bitcoin, in El Salvador this is an experiment and that is an addition to dollar.

Yes, me too.
I don't think crypto currency will replace fiat money, but I still believe it will take several year again.
Not for the few years, maybe  at the coming future.
Fiat money will be replaced by digital currency.

[LaZim]

I don't think that cryptocurrencies in the next couple of years will be able to become so strong that we forget about fiat. And if it happens that states adopt a digital currency then it will definitely not be bitcoin, in El Salvador this is an experiment and that is an addition to dollar.

Yes, me too.
I don't think crypto currency will replace fiat money, but I still believe it will take several year again.
Not for the few years, maybe  at the coming future.
Fiat money will be replaced by digital currency.

It doesn't have to be a cryptocurrency. All money can be transferred to a cashless payment. In addition, such a cryptocurrency will not be used for investment. And many people do not know the technical features of money and will not even notice the transition from fiat to cryptocurrency.