Can cryptocurrency do away with fiat?

[Master107]

It takes more years to abolished fiat and turn into crypto. There are terms and rules, agreement between the countries and the world bank, fiat treasuries from the past, lending of fiat, and the likes should be put into consideration before implementing crypto. There are a lot of major things that will change and affected by the crypto abolishing the fiat. The world must be prepared to that kinda advance technology in order to anticipate the worse possible scenarios all over the world.

[indexx]

Crypto is experiencing a very rapid development and is now getting a lot of government support. But I think this crypto will still take a long time to become like fiat, it will still need to be reexamined.

[therozaq]

Crypto is experiencing a very rapid development and is now getting a lot of government support. But I think this crypto will still take a long time to become like fiat, it will still need to be reexamined.

Yes I agree, I think.several government already supported crypto currency. Many big investor bought bitcoin and altcoin..So I think crypto will compete to fiat at the coming future . Many predicted said fiat will be replaced by crypto currency at the coming future.

[UNIVERSE]

Crypto is crypto and fiat will be still fiat. We cannot replace fiat, but we can be part of fiat. Never imagine replacing fiat because it will be very difficult and also hard to achieve because it relates to the governance of each country where they will never allow it.

[nicecrypto]

Crypto is crypto and fiat will be still fiat. We cannot replace fiat, but we can be part of fiat. Never imagine replacing fiat because it will be very difficult and also hard to achieve because it relates to the governance of each country where they will never allow it.

This topic will continue to fly around where some crypto enthusiast still believe some day, crypto will replace the Fiat currency. Even though we are itching for a cashless economy and this is part of the crypto characteristics, that don't mean it should or will replace fiat. Crypto and the Fiat currencies have to be examined side by side by this agitators to understand why this can not be just for one major reason which most already know.     

[Delgboke]

In cryptocurrency market fiat currency is the most targeted currency when it comes to Cryptocurrency trading in most exchanges in the crypto currency pairs Fiat is much more needed so I don't think Cryptocurrency will do away with fiat currency, that's what I think.

[Vladok]

I think that it will not end with fiat, because many countries have introduced a ban on cryptocurrency, it is not only impossible to pay with it, but you can not own it at all

[Falcon]

I think the process to make the world totally turn to digital concept requires time and much efforts to let it happen. We know in every country there's a different culture and belief with regards to financial status and traditional concept. Before the total digital concept will impose there's much debate to settle every possible aspects and issues to face during implementation. Fiat is hard to kill at this global rate.

[Fenix]

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?

By itself, gaining physical shape by a cryptocurrency does not add intrinsic value to it. Therefore, in what form it will exist, it does not matter much.
Cryptocurrencies have absolutely no chance of replacing the common currencies of states. This process will always be tightly controlled by states and their central banks. And the economy of any state can exist only when interacting with its national money. Therefore, no state will allow cryptocurrency to take a dominant position in the economy and will not give up its national money. And the cryptocurrency itself is not capable of regulating the economy of the state.

[David0]

Crypro currency is a digital asset whereas fiat is a legal means of payment and exchange in the real world.
All of that is difficult to happen because crypto currency and fiat have their own functions. Crypto currency and fiat will always coexist and need each other, because without fiat crypto currency cannot be bought, and vice versa crypto currency is sold to generate fiat mind.

[pacar_tiri]

Crypro currency is a digital asset whereas fiat is a legal means of payment and exchange in the real world.
All of that is difficult to happen because crypto currency and fiat have their own functions. Crypto currency and fiat will always coexist and need each other, because without fiat crypto currency cannot be bought, and vice versa crypto currency is sold to generate fiat mind.

I interest with your opinion, without fiat , we cannot buy crypto currency. I think fiat has function as legal payment and we can use this to bank transaction. I agree with you fiat and crypto need each other

[wxxyrqa]

I believe that in the future, cryptocurrencies will replace fiat money anyway. by that time, the government will have to come to terms with a centralized financial system, In the meantime, we can use cryptocurrency today primarily as a speculative asset in order to earn a certain amount of capital for ourselves.

[Raqeebzy]

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?

I don't really buy that take. In fact, it is very necessary both can existed and used interchangeably. Fiat is government backed and that really makes it a lot powerful and it there is anything, it should never been though of crypto taking over from fiats as traditional financial system. So, I don't think so.

[bitcoin-shark]

I also believe that it is technically possible, that crypto/virtual currency totally replace fiat in interpersonal exchanges, but it will not be an immediate thing, it will take time

[Kitaiev]

Some countries are trying to create their own national cryptocurrency but this is not a cryptocurrency! This is something to the harm of ripple.
I believe that until the earth has no common interests and open world borders, then there will be no victory of cryptocurrency over fiat money.