The impact of crypto on our lives

[pieppiep]

I totally agree that whatever achievements Bitcoin has made, there is no doubt that many investors are interested in investing their funds there, so that the future also looks good. But the fact is that there are still many countries that cannot accept bitcoin as a legal means of payment and still use fiat, so of course it will take time for this transition.
It seems that Bitcoin will continue to be a companion to fiat and not be able to replace it, because fiat is still really needed in several countries that are still very traditional and fiat is still needed for transactions there.

Some countries have not accepted Bitcoin yet but I think that will not stop to use fiat currency even after acceptance of Bitcoin because fiat value cannot be neglected and it is used openly throughout the world. The future of Bitcoin will be more shining because history shows that coming days are more profitable than previous days therefore those who can afford should not avoid investment in Bitcoin.

Fiat is used for purchasing materials while the main purpose of Bitcoin in today's era is just investment and enhancing the value of money so if in future Bitcoin becomes legal all over the world then we don't think that due to its adoption the use of fiat will become hidden.

Actually, the government doesn't need to worry that FIAT will be replaced by bitcoin, because that will take decades more. because not many people understand bitcoin. Bitcoin is the technology of the future, so at least by accepting bitcoin in a country we are preparing for the coming crypto era.

Fiat will never be replaced by Bitcoin. So far, the total supply of Bitcoin cannot be used as a digital currency used by many people throughout the world. The very fluctuating price of Bitcoin will make those who use Bitcoin to make transactions very risky. Bitcoin is only superior in terms of technology but in terms of total supply Bitcoin is inferior. As far as I know, digital currencies that can replace fiat are digital currencies that have fairly stable price movements. So it is quite safe when used to carry out daily transactions.

[Cryptsafe]

I totally agree that whatever achievements Bitcoin has made, there is no doubt that many investors are interested in investing their funds there, so that the future also looks good. But the fact is that there are still many countries that cannot accept bitcoin as a legal means of payment and still use fiat, so of course it will take time for this transition.
It seems that Bitcoin will continue to be a companion to fiat and not be able to replace it, because fiat is still really needed in several countries that are still very traditional and fiat is still needed for transactions there.

Some countries have not accepted Bitcoin yet but I think that will not stop to use fiat currency even after acceptance of Bitcoin because fiat value cannot be neglected and it is used openly throughout the world. The future of Bitcoin will be more shining because history shows that coming days are more profitable than previous days therefore those who can afford should not avoid investment in Bitcoin.

Fiat is used for purchasing materials while the main purpose of Bitcoin in today's era is just investment and enhancing the value of money so if in future Bitcoin becomes legal all over the world then we don't think that due to its adoption the use of fiat will become hidden.

Actually, the government doesn't need to worry that FIAT will be replaced by bitcoin, because that will take decades more. because not many people understand bitcoin. Bitcoin is the technology of the future, so at least by accepting bitcoin in a country we are preparing for the coming crypto era.

Fiat will never be replaced by Bitcoin. So far, the total supply of Bitcoin cannot be used as a digital currency used by many people throughout the world. The very fluctuating price of Bitcoin will make those who use Bitcoin to make transactions very risky. Bitcoin is only superior in terms of technology but in terms of total supply Bitcoin is inferior. As far as I know, digital currencies that can replace fiat are digital currencies that have fairly stable price movements. So it is quite safe when used to carry out daily transactions.

Fiat would still be in existence reasons being that the government would not allow fiat to just fade away like that as it is the symbol of their local legal tender and Bitcoin being a store of value which makes it difficult to run out of importance. So I really do not think it is every individual that sees Bitcoin as a digital currency because some have their own view or perspective about Bitcoin and so far they see it the way they define it.

As you have said, the inferiority in existence ie total supply makes it more  superior to others including the fiat because of the nature of its existence. Bitcoin is  a rare gem yet to be discovered by almost half of the world's population if I am not mistaken so it is still possibly  in it's early adopters stage.

[Jamal Aezaz]

It is not easy to accept Bitcoin as a legal means of payment, but not many countries allow it as a trading tool and this is, of course, because there must be regulations in place.
Agree, that fiat will not be possible to exchange with the existence of bitcoin. In fact, bitcoin will be used as a complement to fiat itself.
It is always possible that bitcoin will be accepted throughout the world, but who knows when. It is still quite a long way off, but it does seem like bitcoin is like an investment just like shares in general and fiat will become a means of payment that replaces bitcoin.

Yes it seems difficult that Bitcoin becomes acceptable as a payment all over the world but due to its growing rate of success it is possible that a day will come when everyone will be in desire to make investment in Bitcoin.

It will take time that Bitcoin becomes acceptable by each and every individual therefore nobody has any idea of how long it will take to become legal in every country. It is reality that fiat is used as a payment from the past that cannot be replaced by anything else but if we talk about investment then one can invest differently in different coins.

[MrSpasybo]

Fiat would still be in existence reasons being that the government would not allow fiat to just fade away like that as it is the symbol of their local legal tender and Bitcoin being a store of value which makes it difficult to run out of importance. So I really do not think it is every individual that sees Bitcoin as a digital currency because some have their own view or perspective about Bitcoin and so far they see it the way they define it.

As you have said, the inferiority in existence ie total supply makes it more  superior to others including the fiat because of the nature of its existence. Bitcoin is  a rare gem yet to be discovered by almost half of the world's population if I am not mistaken so it is still possibly  in it's early adopters stage.

Yes, I also have great faith in the existence and development of BTC in the future, but it is hard to believe that BTC will soon replace fiat on a global scale. In El Salvador, BTC exists alongside $ and does not cause any trouble for users. This is perhaps a reasonable scenario that both crypto investors and governments will be able to accept.

Fiat is still an effective tool for governments to manage the economy, even though it comes with heavy inflation. Another possibility is that BTC could be used as a reserve for fiat, similar to gold in the past. If this happens, the role of BTC and crypto in society will become extremely important.

[Gurujebs]

Yes it seems difficult that Bitcoin becomes acceptable as a payment all over the world but due to its growing rate of success it is possible that a day will come when everyone will be in desire to make investment in Bitcoin.

It will take time that Bitcoin becomes acceptable by each and every individual therefore nobody has any idea of how long it will take to become legal in every country. It is reality that fiat is used as a payment from the past that cannot be replaced by anything else but if we talk about investment then one can invest differently in different coins.

You may be right but the fact remain the same, not everyone will ever like Bitcoin just the way people that loves Bitcoin doesn't want to associate their life with fiat or any other financial instruments control by the government. We all have individual preferences and what we like, some people will never involved their self into bitcoin because they have made it from other financial instruments.

I think at this stage, almost everyone knows what Bitcoin is about, they know where it can be bought and how it is used but government policies governing Bitcoin is bad, they don't ever see the good side of Bitcoin but I know it wouldn't continue forever, it will become a thing of choice.

[Cryptsafe]

Fiat would still be in existence reasons being that the government would not allow fiat to just fade away like that as it is the symbol of their local legal tender and Bitcoin being a store of value which makes it difficult to run out of importance. So I really do not think it is every individual that sees Bitcoin as a digital currency because some have their own view or perspective about Bitcoin and so far they see it the way they define it.

As you have said, the inferiority in existence ie total supply makes it more  superior to others including the fiat because of the nature of its existence. Bitcoin is  a rare gem yet to be discovered by almost half of the world's population if I am not mistaken so it is still possibly  in it's early adopters stage.

Yes, I also have great faith in the existence and development of BTC in the future, but it is hard to believe that BTC will soon replace fiat on a global scale. In El Salvador, BTC exists alongside $ and does not cause any trouble for users. This is perhaps a reasonable scenario that both crypto investors and governments will be able to accept.

Fiat is still an effective tool for governments to manage the economy, even though it comes with heavy inflation. Another possibility is that BTC could be used as a reserve for fiat, similar to gold in the past. If this happens, the role of BTC and crypto in society will become extremely important.

Already the roles of BTC have started becoming effective in the society. Why I say so is because people currently see Bitcoin as a store of value means that they can store their wealth in Bitcoin. They can exchange a certain amount of money equivalent Bitcoin volume vis a vis their local bank or what so ever means they deem fit to conduct the transactions. Bitcoin is now equivalent an asset in the society irrespective of its volatility. The world has come to acknowledge that really Bitcoin is here to make a difference in the global and  economic finance.

[Dr.Bitcoin_Strange]

Fiat would still be in existence reasons being that the government would not allow fiat to just fade away like that as it is the symbol of their local legal tender and Bitcoin being a store of value which makes it difficult to run out of importance. So I really do not think it is every individual that sees Bitcoin as a digital currency because some have their own view or perspective about Bitcoin and so far they see it the way they define it.

As you have said, the inferiority in existence ie total supply makes it more  superior to others including the fiat because of the nature of its existence. Bitcoin is  a rare gem yet to be discovered by almost half of the world's population if I am not mistaken so it is still possibly  in it's early adopters stage.

Yes, I also have great faith in the existence and development of BTC in the future, but it is hard to believe that BTC will soon replace fiat on a global scale. In El Salvador, BTC exists alongside $ and does not cause any trouble for users. This is perhaps a reasonable scenario that both crypto investors and governments will be able to accept.

Fiat is still an effective tool for governments to manage the economy, even though it comes with heavy inflation. Another possibility is that BTC could be used as a reserve for fiat, similar to gold in the past. If this happens, the role of BTC and crypto in society will become extremely important.

Already the roles of BTC have started becoming effective in the society. Why I say so is because people currently see Bitcoin as a store of value means that they can store their wealth in Bitcoin. They can exchange a certain amount of money equivalent Bitcoin volume vis a vis their local bank or what so ever means they deem fit to conduct the transactions. Bitcoin is now equivalent an asset in the society irrespective of its volatility. The world has come to acknowledge that really Bitcoin is here to make a difference in the global and  economic finance.

you're right! Indeed Bitcoin is making crazy ass waves in the society already. It is gradually being regarded by people as a store of value, similar to gold (or even a lot more better). They can trade their money for Bitcoin and keep the Bitcoin for as long as they wish and then decide to sell it back for their money when they wish. It’s kind of like a new type of stock that is starting to trend.

Although Bitcoin price has been highly volatile in the past, this has improved in recent years. That means that its nature of use is becoming more stable and understandable and this is making people more comfortable with it. Also, all the new things introduced on the Bitcoin platform, such as smart contracts and DeFi, prove that it is incredibly potent. It is quite impressive to witness the advancements of Bitcoin and notice how many people begin to pay more attention to it and its potentials. I believe there are more to come in the future.

[Jamal Aezaz]

You may be right but the fact remain the same, not everyone will ever like Bitcoin just the way people that loves Bitcoin doesn't want to associate their life with fiat or any other financial instruments control by the government. We all have individual preferences and what we like, some people will never involved their self into bitcoin because they have made it from other financial instruments.

I think at this stage, almost everyone knows what Bitcoin is about, they know where it can be bought and how it is used but government policies governing Bitcoin is bad, they don't ever see the good side of Bitcoin but I know it wouldn't continue forever, it will become a thing of choice.

Yes everyone thinks differently and some will find Bitcoin as a good investment tool while others will prefer another opportunity but it is reality that people often choose that tool which is more profitable so it is assumed that Bitcoin will be a more preferable asset in future than any other opportunity.

Old age individuals will hardly accept Bitcoin because they don't trust that asset which they cannot see with their own eyes but the new generation are interested in Bitcoin Investment and they will also teach their children about Bitcoin so there is a chance that Bitcoin will boom in coming years. There are different reasons due to which everyone cannot accept Bitcoin and the reason includes the poor financial system, due to the government which does not allow its investment and many more so if circumstances become better then Bitcoin can become useful throughout the world.

[doc]

Yes everyone thinks differently and some will find Bitcoin as a good investment tool while others will prefer another opportunity but it is reality that people often choose that tool which is more profitable so it is assumed that Bitcoin will be a more preferable asset in future than any other opportunity.

Old age individuals will hardly accept Bitcoin because they don't trust that asset which they cannot see with their own eyes but the new generation are interested in Bitcoin Investment and they will also teach their children about Bitcoin so there is a chance that Bitcoin will boom in coming years. There are different reasons due to which everyone cannot accept Bitcoin and the reason includes the poor financial system, due to the government which does not allow its investment and many more so if circumstances become better then Bitcoin can become useful throughout the world.

The older generation will never be able to accept digital assets, because they believe more in physical assets such as gold, property, etc. but the younger generation must be able to learn crypto technology because this is the technology of the future and will be more popular in the future.

[MUGNIA]

Yes it seems difficult that Bitcoin becomes acceptable as a payment all over the world but due to its growing rate of success it is possible that a day will come when everyone will be in desire to make investment in Bitcoin.

It will take time that Bitcoin becomes acceptable by each and every individual therefore nobody has any idea of how long it will take to become legal in every country. It is reality that fiat is used as a payment from the past that cannot be replaced by anything else but if we talk about investment then one can invest differently in different coins.

You may be right but the fact remain the same, not everyone will ever like Bitcoin just the way people that loves Bitcoin doesn't want to associate their life with fiat or any other financial instruments control by the government. We all have individual preferences and what we like, some people will never involved their self into bitcoin because they have made it from other financial instruments.

I think at this stage, almost everyone knows what Bitcoin is about, they know where it can be bought and how it is used but government policies governing Bitcoin is bad, they don't ever see the good side of Bitcoin but I know it wouldn't continue forever, it will become a thing of choice.

that stage will occur because time continues, technological progress will become more advanced, so the younger generation will continue to grow and the ancestors will become history, so it all depends on time, maybe the current government does not accept BTC, we don't know in the next era

[yohananaomi]

Actually, the government doesn't need to worry that FIAT will be replaced by bitcoin, because that will take decades more. because not many people understand bitcoin. Bitcoin is the technology of the future, so at least by accepting bitcoin in a country we are preparing for the coming crypto era.

You're right. Bitcoin won't replace fiats, Bitcoin only complete the financial system in the world. When we have Bitcoin as the payment tool, we have another option that may ease our transaction on buying for goods and services. We also can transfer money easier without the need of the third parties. However, if people still want to use fiats in their life, they still can do it. I'm sure the government doesn't want to remove their fiats from the financial system. It is simply a bit impossible removing fiats because the government can control the financial system with their fiats.

As a sovereign country, they are certain to ensure that they will have their own Fiat so that there is recognition, because, after all, Fiat is still needed for them for transactions that have often been done, especially for the transactions of traditional markets that prioritize Fiat for each transaction.
Agree with you, that Bitcoin is also important to be able to complement each other in every transaction that FIAT may not be done, especially rapid transactions without limits that can only be done by Bitcoin. So, with the presence of Bitcoin, there are options of choice that can be done besides Fiat; let them complement each other and require and not just the opposite.

[bayu7adi]

As a sovereign country, they are certain to ensure that they will have their own Fiat so that there is recognition, because, after all, Fiat is still needed for them for transactions that have often been done, especially for the transactions of traditional markets that prioritize Fiat for each transaction.
Agree with you, that Bitcoin is also important to be able to complement each other in every transaction that FIAT may not be done, especially rapid transactions without limits that can only be done by Bitcoin. So, with the presence of Bitcoin, there are options of choice that can be done besides Fiat; let them complement each other and require and not just the opposite.

Thinking that Bitcoin will replace FIAT, that also requires a lot of consideration... I wouldn't want to wait more than 3 minutes for a transaction to be processed to buy a cup of soda at the minimarket... I can't imagine the queues that would arise if everyone used Bitcoin... besides that , the transaction fee for buying a can of soda also seems quite expensive...

Even though there is LN, I am sure it is not enough of a solution..... yes, at least cryptocurrency still needs some improvements to become the people's choice compared to FIAT which is very sovereign in each country.

[yohananaomi]

As a sovereign country, they are certain to ensure that they will have their own Fiat so that there is recognition, because, after all, Fiat is still needed for them for transactions that have often been done, especially for the transactions of traditional markets that prioritize Fiat for each transaction.
Agree with you, that Bitcoin is also important to be able to complement each other in every transaction that FIAT may not be done, especially rapid transactions without limits that can only be done by Bitcoin. So, with the presence of Bitcoin, there are options of choice that can be done besides Fiat; let them complement each other and require and not just the opposite.

Thinking that Bitcoin will replace FIAT, that also requires a lot of consideration... I wouldn't want to wait more than 3 minutes for a transaction to be processed to buy a cup of soda at the minimarket... I can't imagine the queues that would arise if everyone used Bitcoin... besides that , the transaction fee for buying a can of soda also seems quite expensive...

Even though there is LN, I am sure it is not enough of a solution..... yes, at least cryptocurrency still needs some improvements to become the people's choice compared to FIAT which is very sovereign in each country.

There will always be pros and cons to completely replacing Fiat with Bitcoin, and it is not easy. As you said, every transaction is also not easy and takes time. It is different if you use Fiat directly, the value is clear, but not with Bitcoin. It always changes all the time. It is clear There will be difficulties in every transaction when it is done just to buy soft drinks.
I agree, there must be improvements first and, if possible, it must be made concurrently with its use they so that we can determine which one is easier and the best.

[Mr. Magkaisa]

Yes it seems difficult that Bitcoin becomes acceptable as a payment all over the world but due to its growing rate of success it is possible that a day will come when everyone will be in desire to make investment in Bitcoin.

It will take time that Bitcoin becomes acceptable by each and every individual therefore nobody has any idea of how long it will take to become legal in every country. It is reality that fiat is used as a payment from the past that cannot be replaced by anything else but if we talk about investment then one can invest differently in different coins.

You may be right but the fact remain the same, not everyone will ever like Bitcoin just the way people that loves Bitcoin doesn't want to associate their life with fiat or any other financial instruments control by the government. We all have individual preferences and what we like, some people will never involved their self into bitcoin because they have made it from other financial instruments.

I think at this stage, almost everyone knows what Bitcoin is about, they know where it can be bought and how it is used but government policies governing Bitcoin is bad, they don't ever see the good side of Bitcoin but I know it wouldn't continue forever, it will become a thing of choice.

         -     Because in our time, the only thing that the majority knows is the word bitcoin, or cryptocurrency. In short, they only know the title. It's like a movie in a show where you know the title, but you didn't watch it or find out what the beginning of the show's theme is. You know the title, but you don't know the story because from the beginning to the end of the movie, you don't know what you found out.

It's the same with Bitcoin or cryptocurrency; we should also know why rich investors are interested, why Bitcoin's value has increased, and what's wrong with cryptocurrency as well.

[Dr.Bitcoin_Strange]

Even though there is LN, I am sure it is not enough of a solution..... yes, at least cryptocurrency still needs some improvements to become the people's choice compared to FIAT which is very sovereign in each country.

Hell Yeah!
If Bitcoin was to be adopted by the mass as a currency for day to day then the Devs sure do have lots of work to do to make that a possibility, which i believe isn't gonna be much a biggie for 'em, because a couples of years ago we had nothing like the Lightening Network, because we didn't much Memepool issues or super high TX fees, but when the network encountered the problem, the Devs got to work and came up with tge LN which has been an incredibly cool alternative to evade the high TX fees.

So if we're ever to find ourselves in a situation where Bitcoin becomes the only method of payment and transaction even for the common man, then I'm pretty sure the Devs gon come up with a much better option to help bitcoin users.