Absolutely cryptocurrency is a great platform in the future and a lot of people do it, invest in it and they get a lot of money and they make a lot of profit from cryptocurrency. Absolutely corrupt currency is flat money in the future.
Cryptocurrency or fiat money in the future?
- Thread starter Tienda
- Start date
I know cryptocurrencies will have negative effects on the fiat currency but it can not be replaced with the fiat currency. When cryptocurrencies are adopted widely, it will definitely affect the stability of fiat currency in the economy.
Although we are in the digital age but for bitcoins to overtake Fiat currency is a dream that is not likely to come through in the 21st century because is not yet time , there is a prediction by the next 50 years everything will be digitalised and transaction will not be as physically as it is, so there's a possibility of that happening in the future and not in the present that we are now
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Cryptocurrencies are too volatile to be considered as the global legal tender. Also, the fiat of any country is part of the identity of that country and I doubt any government will want that taken away from them at any expense.
Cryptocurrency is the most preferable to go for since the cryptocurrency world is now increasing rapidly. Investing in crypto currency is of high advantage now that there is inflation in the market economy.
I don't think that there can ever be a replacement of fiat currency, especially with the number of countries that still have not adopted or even considered crypto. in my opinion, in order for there to be financial development, it is very important that these two currencies co exist rather, as this will provide the maximum benefit.
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I think crypto has a greater chance
While the investment bank speculates that gold could replace the dollar, the crypto community contends that bitcoin, with its deflationary monetary policy, is the best alternative to the dollar. Bitcoin's pace of supply expansion is reduced by 50% every four years via a process called mining reward halving
While the investment bank speculates that gold could replace the dollar, the crypto community contends that bitcoin, with its deflationary monetary policy, is the best alternative to the dollar. Bitcoin's pace of supply expansion is reduced by 50% every four years via a process called mining reward halving
With the way crytpocurrencies especially Bitcoin have appreciated lately especially through out the year 2020, I think I will have to go with Cryptocurrencies, it's the currency of the future afterall.
Crypto currency can't take over Fiat currency any moment from now not even in the future. It can only complement the means of payment on different market place. Each government will need to know more about crypto currency exchange platform to support it and make use of the Digital currency.
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I agree with you.. There is no way no way cryptocurrencies will take over fist money but they will complement. And in the nearest future, saving in fiat money maybe discouraged because of its low interest compare to cryptocurrencies.
This is impossible because the fiat money is very important and some people do not have that much information about crypto currency and they cannot use it and fiat money is very much used than cryptocurrency.
Both of them are the future because the fiat Currency is the medium of Exchange to paper Currency, bitcoin is just an asset not money so in my opinion bitcoin and money should be inter related not competing parameters.
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It is known that there are crypto money users and some people and institutions operate in this way. On the other hand, the most basic way to combat the virus is to establish a "contactless world" and to adapt all contact-based systems such as cash flow to this change process. From this point of view, in the new world that will emerge at the end of this process, cryptocurrencies can be one of the pioneers of this contactless universe and can take care of the throne of paper money.
Because the nature of cryptocurrencies has many weaknesses including price fluctuations, cannot be used as a measure of value and is decentralized, so it is impossible to replace fiat money, besides the circulation of crypto is more held by investors, and I personally would not want to use Bitcoin as a means of payment, because I think we better save it, there are also many stores that don't accept Bitcoin.
I think Bitcoin will replace Fiat money and will dominate the world.
But it will take much time, in some countries it will be implemented in less than 5 years but under developing countries will take more than 10-15 years to do this.
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I understand why a lot of people think cryptocurrency will replace fiat money but I don't see it happening even in the next hundred years.
The government simply will not fold hands and let cryptocurrency drive fiat money into oblivion.
The two will work together.
The government simply will not fold hands and let cryptocurrency drive fiat money into oblivion.
The two will work together.
Definitely, crypto currencies will replace fiat currencies just as fiat money replaced trade by barter method in the earlier days. The fact that there's no governing body make the adoption of crypto coins icrease rapidly on a daily basis and I see a great future for crypto coins.
Nothing will replace fiat money, not even debit or credit cards. Even Warren buffet said in an interview that fiat money will stay for at least another 10-15 years
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Governments issue fiat currencies, which are in return regulated by the central bank. ...Cryptocurrencies, on the other hand, are merely digital assets that act as a medium of exchange that governments have no control over. The decentralization aspect means no central body can control or influence their value.
i would say both, because not all countries support it, and also, even with the usage of bitcoin, each country still has its own currency, and there can't be a global unique currency due to economical reasons
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