Getting Rid of Fiat Money

[Speaker]

Many project tokens are not a means of payment in a broad sense, although they have such a function. Therefore, I do not think that they will become stable as a fiat currency.

[Noverteno]

In general, fiat currency prices are more stable than cryptocurrency prices and values. Because cryptocurrency is still relatively new, it may one day be as stable as money. Each has pros and downsides, but cryptocurrency use is increasing. While cryptocurrencies can be used to make payments, we are not yet at a place where they pose a danger to fiat currencies.

A decentralized cryptocurrency cannot become price stable. In this it differs from fiat and will always differ from it. But the main thing is that the cryptocurrency is not able to replace the national currencies of states. The currency of states is the equivalent of the value of all commodity values, and which may be in circulation on the territory of this state. Therefore, the development of the state economy through fiat can be planned. This cannot be done with cryptocurrencies. In addition, states will simply not allow their fiat to be replaced by cryptocurrency.

[Speaker]

cryptocurrency is an inevitable progress in the evolution of the traditional established financial market. Yes, it will not possibly become a legal tender, but many of its functions and technologies will be used in traditional finance.

[Master107]

I agree with you, because fiat money can be regulated and cryptocurrency cannot be regulated, and in addition, anonymity is at its best. Perhaps when young rulers come to power, who will be able to make a breakthrough in the reforms of their states in the field of cryptocurrency, and we will see a reboot of the financial system, but this is in the distant future.

Nope. In the future everything will be under regulations to promote much better use case and common good in both parties. Nevertheless, for today let fiat and crypto work on its own way since crypto is not yet totally recognize globally as safe and good to use like fiat. After the case of LunaC and FTX, regulations is under negotiation.But if course it takes time to implement since crypto for now is known as decentralized market.

[gunhell16]

Currently, it is very impossible to get rid of fiat in this era. Maybe if fiat ever goes away, they should first establish the internet around the world before it happens to remove fiat around the world.

Because until the internet is established worldwide, fiat will never disappear and cryptocurrency will still be secondary as virtual money in the whole world in my own opinion only.

[Bliznec]

Fiat funds have made a person a slave. A person goes to work to earn money. Wages are not enough to live on. Prices are rising every day higher and higher. The man complains and he doesn't like it. Banks can not cope with the loans of the population. That's right, something more is coming soon! Cryptocurrency can offer much more than fiat money - the freedom to accumulate your funds. But at the same time, a person cannot live without fiat money, because you need to live on them. How soon the cryptocurrency will replace fiat funds is not known, and whether it will be at all!

[Anonylz]

Many project tokens are not a means of payment in a broad sense, although they have such a function. Therefore, I do not think that they will become stable as a fiat currency.

The whole essence of cryptocurrencies is based on the ability to make profits from your investment. Let us take our minds back to when people didn't appreciate the Bitcoin they had back then, like in this instance;
a software programmer from Florida, Laszlo Hanyecz, became well known in the crypto world after trading 10,000 bitcoins for two Papa John's pizzas. who is going to spend that much BTC on pizzas now? as we know there are other incidents like this.
That said, aside from the stablecoins that we already know, I don't see any crypto becoming stable as fiat currency, and Getting rid of fiat money isn't happening any time soon, if ever. 

[Astra]

Currently, it is very impossible to get rid of fiat in this era. Maybe if fiat ever goes away, they should first establish the internet around the world before it happens to remove fiat around the world.

Because until the internet is established worldwide, fiat will never disappear and cryptocurrency will still be secondary as virtual money in the whole world in my own opinion only.

In order for fiat to disappear, that is, the currency of states, it is necessary for the states themselves to disappear. However, mankind does not yet know another form of social organization, except for the union in the state. Therefore, as long as states exist, their currency will exist, which they will protect.
Cryptocurrency, if it does not want to be destroyed by states, or at least driven into deep underground, it is necessary to peacefully coexist with the currencies of states and take its place in the existing global financial structure.

[Speaker]

I do not think that cryptocurrency can be a threat or a substitute for money at all, it is a new paradigm with its own technologies, innovations and products, some of which will be integrated into the traditional sector.

[pieppiep]

I do not think that cryptocurrency can be a threat or a substitute for money at all, it is a new paradigm with its own technologies, innovations and products, some of which will be integrated into the traditional sector.

Cryptocurrency can never replace Fiat money because both of them have different physiques and uses. Digital currencies like Bitcoin and others will only be alternative payments that can help many people make transactions wherever you are with sellers who have long distances.

[ashraf786100]

People go to work in order to make money. It is impossible to live off of wages. Every day, prices continue to rise steadily higher. He doesn't like it when the man complains. The population's loans are too much for the banks to handle. That's true, there will be more shortly! Cryptocurrency can give you considerably more freedom to accumulate your money than fiat money can.

[Bobcrypto]

Actually, it will be very difficult to wipe out fiat money from existence and be replaced with digital currencies. I don't think the digital systems alone will ever be implemented by any country of the world; but I think both currencies must exist side by side for easy access. There are areas that has no access to internet and the possibility of using only digital currencies like Bitcoin/altcoins may be impossible.

[TopT3ns]

People go to work in order to make money. It is impossible to live off of wages. Every day, prices continue to rise steadily higher. He doesn't like it when the man complains. The population's loans are too much for the banks to handle. That's true, there will be more shortly! Cryptocurrency can give you considerably more freedom to accumulate your money than fiat money can.

As people who have the goal of accelerating wealth gain, they will try to do all the work to keep getting enough income to grow their assets, Cryptocurrency can be a great place to grow assets by taking advantage of coin price movements on the market .

[elbans89]

Crypto currency will not be able to get rid of fiat currency, because fiat money is a payment instrument issued by the official government in a country that is centralized and its position cannot be erased

agreed, crypto currency won't getting rid of fiat money for the next few years.
But maybe at the digital era , it will be.
Anything might happen at crypto space.
In my opinion, crypto has potential to be.

[Speaker]

Crypto currency will not be able to get rid of fiat currency, because fiat money is a payment instrument issued by the official government in a country that is centralized and its position cannot be erased

agreed, crypto currency won't getting rid of fiat money for the next few years.
But maybe at the digital era , it will be.
Anything might happen at crypto space.
In my opinion, crypto has potential to be.

She has a huge potential and a high speed of adaptation. Let's see what will come out of all this over time.