Can cryptocurrency do away with fiat?

[Freemind]

States have not worked and are not working on the issue of replacing their national money with cryptocurrency. This topic is generally unacceptable to them. Also, they will not create their own cryptocurrency. They are now working to create their own digitized national stablecoins for central banks. However, CBDC cannot be considered a cryptocurrency. This will be another type of non-cash payments for the currency of states, only using blockchain technology, and even then not in all cases.

I agree with everything you have said, but I would like to add the biggest problem that the world population will have with CBDC, it would be the same problem as with cryptocurrencies. To put ourselves in context, only 35% of the Chinese population uses the smartphone to make payments, followed by the Indian population, which is used by only 30% of the population. The education necessary to teach people to use digital devices to make payments will be the biggest problem for all governments.

[Malathris]

Cryptocurrency can develop without fiat market, however they're mutually connected to each other. Cryptocurrency still has the less influence on the market of fiat, while fiat market has bigger influence on cryptocurrency. Fiat market has bee nexisting for many years and almost a century, while crypto is too young for being influential. In my opinion, traders always have to pay attention to fiat market when they trade crypto, because the vast majority of accounts are attached to TetherUS which is attached to the US dollar. So, as you can see it's almost impossible to imagine crypto market without fiat, but it might be possible in future.

[Astra]

How can cryptocurrency end fiat? By the gradual transition of citizens to the use of cryptocurrencies and the simultaneous refusal to use the currency of states? So in any case, not all people will use cryptocurrency. As for the states and their bodies, they will not give up their national currencies, since they support the economy of each country. So far, the exception is El Salvador, which has been using Bitcoin as its national currency since September. But this state has never had its own national currency.
In my opinion, cryptocurrency cannot replace the national currency of states.

[anshor1]

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?

No,I don't believe crypto can actually do away with fiat totally.
We all know crypto has been banned at several countries, such as Chinese
But maybe It will happen at the coming years.

[masterrex]

I think in reality it's not until our respective government central bank has continued to print money, the centralized money called fiat will be the main currency in the world because there are only a few stores that accept cryptocurrencies as a payment that's why it's not reliable to buy our necessities cryptocurrency, for now, must co-exist with Fiat to survive and that's for real.   

[Cleanerbd]

We can use cryptocurrencies as dollars. And when it sells, it has to be calculated in dollars. Cryptocurrency can never keep Fiat away. Fiat is needed to calculate crypto.

[TOP_ETH]

if cryptocurrencies remove fiat completely it may take time because fiat has been a transaction tool for a long time all over the world

[Seerge]

if cryptocurrencies remove fiat completely it may take time because fiat has been a transaction tool for a long time all over the world

It will be difficult, How long will it take for Cryptocurrencies to erase Fiat? Fiat is a currency that has been passed down for generations and is used as a means of transactions from all walks of life, both urban and rural people. I've already said that this will be completely difficult, but it will continue to work according to its respective functions.

[de_prof]

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?

It seems difficult to happen, If we talk about Can cryptocurrency do away with fiat?
I think It will never happen.
Fiat money always being supported and kept by government.

[gurunanakji777]

My answer is no for now but what will happen in the future we can't predict at the moment. Cryptocurrencies are doing good but Fiat is also the need of most of the crypto users to encash their money in their own country currency. Things can be changed when the big no of merchants starts accepting cryptos across the world without any issues then only we can say fiat is least required.

[viki]

My answer is no for now but what will happen in the future we can't predict at the moment. Cryptocurrencies are doing good but Fiat is also the need of most of the crypto users to encash their money in their own country currency. Things can be changed when the big no of merchants starts accepting cryptos across the world without any issues then only we can say fiat is least required.

I totally agree, maybe someday fiat will disappear, but it will not be at all soon. Moreover, cryptocurrency is more difficult to use and many people do not want to understand this.

[stanley]

Fiat will never disappear. There will always be people who will only use fiat. At any level of development and implementation of cryptocurrencies.

[BOAEDAN]

cryptocurrency will never be able to coexist with fiat because it has different types which in my opinion will not make fiat and cryptocurrency unite, it is better to remain different because in my opinion there are still many people who do not understand cryptocurrency, so that many people have difficulty using cryptocurrency and will switch to fiat.

[cashisking86]

I think it can but I don't think it will. There is no way central banks will relinquish control of controlling who has money in society and in order for that to happen we will need to see widespread regulation of cryptos and I just don't think that will happen.

[Hisbullah]

I think crypto currency willnever do away with fiat money, because Not easy to change the habit.
We all know, people has used fiat for their transaction as long as years