Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: ayatoslaw on November 19, 2018, 02:23:13 AM
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fiat is the first currency, and bitcoin is a breakthrough for digital currencies,
but is it true that bitcoin is a fiat replacement?
if I disagree, because after all fiat is money that cannot be replaced, even by bitcoin,
as well as bitcoin, it is a digital currency that cannot be replaced by Fiat.
both are different and have their own ways.
even though it has the same purpose, namely as a means of payment.
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I think both of them have their respective roles and not everyone can accept crypto properly. I think cryptocurrency is better to use as an investment because it will be more profitable than other investments. but we also have to be careful in investing in it because if we fail then we will get a big loss.
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Never under any circumstance going to replace Fiat. Central banking will be issuing computerized Fiat in under 5 years. Crypto will be ideal nearby state issued monetary forms for quite a while.
Money is made as a type of exchange. money itself have no esteem, however as a standard of significant worth for everything. over the long haul, individuals go amiss from the first reason. cash itself turn into a ware itself.
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cryptocurrency can not be said as fiat money because I think cryptocurrency also has their own advantages. not everyone can accept cryptocurrency and cryptocurrency must also be used properly. if is not then it will be risky and make us get a loss.
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At the moment cryptocurrency cannot replace fiat in terms of usability, but it is possible that cryptocurrency in the future can replace fiat as a currency.
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Cryptocurrency has many benefits and I realize that technological advancements must have the support of everyone, each country has a different currency, fiat has several factors that make the exchange rate of fiat in all countries different.
Crypto wants to give you convenience with no other party managing the payment system and is very safe. This is easier than fiat.
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If we can fully step into the digital world, then it seems to me more appropriate to use digital currency than Fiat in more developed regions!
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I would not say fiat is impossible because if the next modern society considers another form of payment to be more effective and efficient then fiat will automatically be eliminated. currently crypto provides an option that makes it easier for users in terms of payments other than fiat and I consider crypto still better
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I partly agree to this. It's hard to see bitcoin replacing fiat as a form of payment because not everyone has access to the internet and given the fact that some may still refuse to use it for convenience sake. It can still happen to a small community though.
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sorry man, but I have to disagree...
fiat is not the first currency, not by a long shot... human society has already used stuff like gold and even salt to work as money... fiat money was invented in association with gold, but now, it doesn't even has that... the reality is that fiat money has become simple pieces of paper to which we recognize value only because all the other do...
I understand your point, but things evolve and money has to evolve too... of course it will take time and probably some fisical forms for bitcoin (like the bills that are already circulation), but it is the only possible fate... can you remember...I think it was around 20 years ago that the cell phone was started to be mass sold... look where it is now...
Do you think people in the future will still rely on fake pieces of paper to make their trades?
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fiat is the first currency, and bitcoin is a breakthrough for digital currencies,
but is it true that bitcoin is a fiat replacement?
if I disagree, because after all fiat is money that cannot be replaced, even by bitcoin,
as well as bitcoin, it is a digital currency that cannot be replaced by Fiat.
both are different and have their own ways.
even though it has the same purpose, namely as a means of payment.
You are right both fiat and crypto serves it purpose and we should not mix them together but rather have them working together hand in hand. Crypto need fiat to be real currency and not virtual currency whereas fiat need crypto if people decide to have another option and not entirely centralise.
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I think this is often conjointly the impact of the crypto market fall therefore investors are not any longer inquisitive about ico investments so the funds which will be collected by ICO have faded or faded recently. back once more to the perform of crypto within the world for business and social science, if crypto or ico do a step that creates them will be used as a payment tool during a store, for instance during a steam game, or on-line store, crypto functions are going to be a lot of valuable which will have a bearing on crypto costs.
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We need fiat because with it easier and more stable to work and everyone is accustomed to it, but cryptocurrency is an unexplored area and not stable and is not legally available in few places.
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Central banks of different countries will have to be taken down (complete overhaul of the traditional financial system) first before we can think of cryptocurrencies completely replacing fiat currencies. It is unlikely to happen though since that can cause an economic turmoil.
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Cryptocurrency will never replace fiat. This is impossible, because it is not capable of it. Try to draw up a country's budget for the next few years in Bitcoin. I am sure that no one will succeed, because it is impossible to predict the price of Bitcoin and decentralized cryptocurrency in general. Therefore, no government will ever agree to switch to the use of cryptocurrency and abandon their national money.