Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: jeffrey on May 30, 2018, 10:41:29 PM
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this is a trending topic and almost all the crypto platforms are discussing it. Crypto currencies are going viral, day-in and day-out a lot of people are adopting crypto currencies. Some use it for the sake of business, some for investment, others to work on campaing bounties and earn tokens, many others to mine crpyto and the rest.
So this implies that crypto transactions are increasing, so the question is, will crypto replace fiat money?
What are your suggestions
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I doubt that cryptocurrencies will ever replace fiat, at least not cryptocurrencies as we know it -- ie. the permissionless and independent of government type.
Whether some sort of government "cryptocurrencies" will appear is a question of its own, although I doubt the viability of this concept. Either way, in my opinion cryptocurrencies are going to play a large role as a means of payment, regardless of whether it will complement or replace traditional money.
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if I think it will never happen to crypto replace fiat money, because there are still many countries that refuse crypto in the country. so it is impossible for crypto to replace the fiat currency
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The biggest technical problem today is scalability, for the moment, ethereum can only process 15 transactions per second...
But according to Vitalik himself, in the near future Ethereum should be able to process 1 million transactions per second, and we could consider switching from fiat to cryptos.
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Due to the fact that we are at the time of seeking technologies in order to give us fast and secure services that can connect each person from different places. There is a possibility that crypto will change fiat once we ordain crypto as our new fiat ways of system.
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I don't think it will be as easy as that to replace fiat currencies with crypto. history will be difficult and maintain currency fiat. Crypto will simply be used as an alternative, coexist with fiat.
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Replacing fiat money into crypto currency is what actually the future of the world. Looking back the history, people before we're using barter as the system of payment, until the time that they were u sign gold and silver, and it turns into money until now that we are using part money, with some stuff like ATM cards.
Whenever there was a new thing that shows advantages from the current system it is automatically replace. So seeing crypto as the future money is not already a surprise.
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I think it's quite difficult for cryptocurrency to be replaced as fiat money. would involve many aspects in it, it will probably change some grammar rules that exist in the Government. I think it should be used as an alternative transaction tools alone is not purely a whole as a means of payment for the transaction.
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I think it's quite difficult for cryptocurrency to be replaced as fiat money. would involve many aspects in it, it will probably change some grammar rules that exist in the Government. I think it should be used as an alternative transaction tools alone is not purely a whole as a means of payment for the transaction.
I very much agree with you. It seems to be a lot to meet the pros and cons. and in my opinion replacing fiat money with cryptocurrency was not a decision or policy that is entirely appropriate. We need the fiat money as a staple of our transactions and make digital money as a compliment, I think this is more appropriate.
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I don't think cryptocurrencies would be able to replace fiat because of the limitations when it comes to technology. Not everyone would be able to connect to the internet so if cryptocurrency is exclusively use then they cannot transact to anything because they won't have any means of buying something. The government will not allow it as well because they cannot totally monitor the flow of money as to whom it is paid or who paid it.
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I don't think cryptocurrencies would be able to replace fiat because of the limitations when it comes to technology. Not everyone would be able to connect to the internet so if cryptocurrency is exclusively use then they cannot transact to anything because they won't have any means of buying something. The government will not allow it as well because they cannot totally monitor the flow of money as to whom it is paid or who paid it.
you are absolutely right, I also agree with you. for that, I think cryptocurrency cannot replace the fiat money, because fiat money very closely his relationship and its value with the identity of the country itself, preferably crypto coexist, which another alternative of fiat money, not to replace.
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Looking for advance thinking I think yes. Crypto can change the normal way of our fiat. If we assume that everything that we need have their own crypto then we can feel the crypto presence in due time because the era of crypto revolution is coming.
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A specific token designed to have a stable price, or at least a stable price compared to bitcoin. That could replace fiat money, but that wont happen a long time from now. There still needs to be ways for governments to fund infrastructure for their country, and fiat currency is the best way to do that currently.
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I think, that technology and idea of blockchain system is a step forward in money system, but not with such speculative and volatility market. Because i can't be sure in price of any cryptocurrency for tomorrow. That's why fiat money more stable at this moment. Any way, future by crypto.