Is it possible that Fiat will crash?

[Domithra]

Fiat will take quite a good number of years to fade out of the system because it has got the full backing of the governments across the globe. Cryptocurrency has a revolutionary idea yet it has a long way to go in order to prove its significance to the world in order to meet the approval of most of the governments

[damsix]

I am a race that will never happen because FIAt is indeed used to make security in the country.
If the country has money like cryptocurrency then it is very dangerous and FIAT remains the main choice for the community.

[Jaguar]

It is near possible as we are hugely in technologies submerging all over the world that the only means of every human to stay connected globally. Technologies and cryptocurrencies are connected to each other to stay connect with us. In the future fiat will become just a part of human history.

[verifyme]

So true. Fiat money will be difficult to fade because of support from the government and also the support of the people who already like fiat money. I think Cryptocurrency must work hard with all this and if you can get approval from the government so that there will be an ease in capturing the current fiat state.

[bitpation]

Fiat money will not crash even though bitcoin is growing. What's more, every bitcoin and altcoin value is always measured from fiat. So, it's impossible for fiat's existence to be killed because of the popularity of bitcoin.

[TheHero]

Yes. I think there will be a chance the Fiat will crash if
- the government/central bank adopt the reckless policies that break public confidence in the value of the currency.
- The Fiat collapses due to hyperinflation because Money has been printed faster than the economy could absorb it. Perhaps people are spending money as quickly as they can earn it, because the money won’t be worth as much tomorrow as it is today. It’s a situation where a total loss of confidence in the economic system and it will going to crash.

[Alcor]

Fiat will take quite a good number of years to fade out of the system because it has got the full backing of the governments across the globe. Cryptocurrency has a revolutionary idea yet it has a long way to go in order to prove its significance to the world in order to meet the approval of most of the governments

Even if the cryptocurrency will be approved by the majority of governments of the world, it will never be able to replace the national money of the states with it. Decentralized cryptocurrency is simply not designed for this, and if some stupid government allows it, then the economy of this country will quickly be destroyed. Only when there is a single superstate in the world, will there be such a replacement and that, I am not quite sure.

[tamango]

I think that even if FIAT will probably remain the first choice for governments and people in general, crypto could partially replace most of banking payments made using credit card system and this is very important because in this way noone will depend by banks.

[Pheonyx]

We just seeing cryptocurrency Now in a revolutionary manner because of being decentralized but I believe time will come that the government will make their own blockchain and crypto. Meaning all decentralised crypto Now could be less important on that time when the centralized is working.

[Moykoy]

Cryptocurrency has a revolutionary idea but has a long way to prove its significance to the world in order to fulfill the approval of most governments. Fiat will take a long time to fade from the system because it has full support from governments around the world.

[Whate]

Crypto can replace most of the banking payments made using a credit card system and this is very important because in this way no one will depend on the bank.
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[MOProgress]

If I understand well, I will answer that fiat does fluctuate like Cryptocurrency, the prices goes up and down.

[Speaker]

Cryptocurrency is going beyond and commissions the Bank charges the Banking system is actively implementing the benefits of cryptocurrency in your sector.
No one will allow cryptocurrency to circumvent censorship, although the main idea was this.

[horseheadnebula]

It is possible. Fiat today is easy money. Easy money is subject to inflation due to governments. That means if supply rate will increase, the money will start to lose its worth. Lots of examples can be seen throughout the history. I suggest you read "The Bitcoin Standard". It's a very nice book explaining these concepts.

[Fenix]

No, fiat will never fail, because the cryptocurrency can never replace it. Even if the cryptocurrency will be widely used in all states, this is not enough for it to replace the cash of the states. Cryptocurrency by its nature is simply not able to do this, since it cannot be tied to the economy of a particular state. Without this, no state will abandon its national money in favor of cryptocurrency.