Can cryptocurrency do away with fiat?

[I-Bit]

No totally?
USDT may be fiat, but this is still cryptocurrency that is not regulated under a government issue and laws. SO far, we can also see other stable coins. But to replace the exact fiat with crypto is still too far away and maybe will never happen.
Let's use crypto as crypto, not for fiat right now

[pelana vreo]

-snip-
Do you think crypto can actually do away with fiat totally?

Maybe it won't happen today, but in the future, yes, Fiat will still exist but in the form of digital currency

I think every country has done a lot of research on this subject, they will not continue to print large amounts of banknotes.
but with blockchain technology, digital currencies can be made as needed and determine the amount of supply

[Carbitcoin]

-snip-
Do you think crypto can actually do away with fiat totally?

Maybe it won't happen today, but in the future, yes, Fiat will still exist but in the form of digital currency

I think every country has done a lot of research on this subject, they will not continue to print large amounts of banknotes.
but with blockchain technology, digital currencies can be made as needed and determine the amount of supply

at least when Bitcoin increases its capitalization 20 times, then it will be possible to hope for the stability of this asset.And then it is more likely that Bitcoin will begin to replace fiat funds and act not only as an output asset, but also as a safe storage, and also as a means of payment.

[LaZim]

-snip-
Do you think crypto can actually do away with fiat totally?

Maybe it won't happen today, but in the future, yes, Fiat will still exist but in the form of digital currency

I think every country has done a lot of research on this subject, they will not continue to print large amounts of banknotes.
but with blockchain technology, digital currencies can be made as needed and determine the amount of supply

at least when Bitcoin increases its capitalization 20 times, then it will be possible to hope for the stability of this asset.And then it is more likely that Bitcoin will begin to replace fiat funds and act not only as an output asset, but also as a safe storage, and also as a means of payment.

For bitcoin to have little volatility, a huge number of bitcoins must be in the small hands of a few people. Because if a lot of people own bitcoins, they will sell at a high price and the exchange rate will fall. But this will not happen soon. The big players need to shake the small players out of the market.

[iloveyobit]

if you mean turning crypto altcoins into visible currencies the answer is no because they called digital currencies for a reason and thats the same reason blokchain created,its for spreading the decentralized idea in the world and between governments ..

[Bit]

Crypto is more used for digital assets not as a currency because it will really relate to the rules and regulations of a country. For example in certain countries, crypto is legal as commodity but it is not legal as currency. SO, it may be very difficult for crypto to go away fiat or replace it

[Prime]

Cryptocurrency will make the world financial system is better, I am very optimistic about this belief. Fiat will last a long time in the world, people need it because it is an effective tool for payment. And cryptocurrency will complete fiats to have a better system and make the transactions faster.

[gurunanakji777]

Crypto is not acceptable in every country that's why we generally depend on USDT or our own country's native currency. If all of us have the option to make payments in cryptos for our daily needs certainly we will use crypto instead of fiat but its not seems possible at the moment because adoption of crypto is very very less if we see it in percentage. The fact is in the current time we will be dependent on fiat currencies and we can use crypto but we have to convert in our own native currency.

[Condorlaib]

Only when Bitcoin increases its capitalization by at least 10 and 20 times, then it will be possible to hope for the stability of its price and this will bring a real opportunity to use Bitcoin as a means of payment, which can practically be considered a direct action to replace fiat funds.

[Freemind]

@Condorlaib I don't think it is due to the current or future price of Bitcoin or crypto in general. It's more about political and business interests, I doubt that the government of a country wants to use cryptocurrencies for the simple reason that most of the known blockchains are public and anyone could access that information. If those governments created their own crypto, they could make private blockchains, so they could hide whatever they want.

[Senin]

-snip-
Do you think crypto can actually do away with fiat totally?

Maybe it won't happen today, but in the future, yes, Fiat will still exist but in the form of digital currency

I think every country has done a lot of research on this subject, they will not continue to print large amounts of banknotes.
but with blockchain technology, digital currencies can be made as needed and determine the amount of supply

Fiat will always exist as long as there are states. Yes, it can change its form, be digital or have another cash or non-cash form, but its essence will not change. It will be issued by the state within the limits established by it, and the state will completely control its circulation. A significant part of fiat can be in the form of stablecoins, that is, the digitized currencies of the central banks of states, but it will still be the same fiat.

[MishaSER]

In fact, this is a difficult question, if we consider cryptocurrency as a basis, then how to determine how much a cryptocurrency costs if we do not take fiat into account?

[shadowdio]

I don't think the fiat will be gone because of the cryptocurrency.. Maybe some people will not prefer cryptos but they prefer fiat instead. In the future we need fiat as a second option for payment in case we lost our mobile or no internet connection..

[jhm]

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?

In a nutshell, no, not without government control. I would be the first to put my hand up to these utopian society idea's, it would be wonderful...I have my doubts (realistically, sad to say)

[Lanirex]

I don't think so, Cryptocurrency will not completely remove FIAT but Cryptocurrency and Fiat will go hand in hand as the currency that society uses. They will complement each other. But in the future, there will be more people using Cryptocurrency compared to now.