@globalvillage
8 months ago

Do you think cryptocurrencies will eventually replace fiat currencies? Or you feel both will coexist? Why?

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Replace ? No !

Yes they can coexist together but cypto can't eliminate fiat currency. Each nation has it's own and it will not be possible for crypto to be used by everyone....
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Both will have to co-exist..

Cryptos have no intrinsic value as such.. they are mostly speculative or notional value currently.
All the tokens that get used up are also worth something BUT that something is and will still have to be determined by fiat currency..

What measure of worth can you use if there were no fiat currencies.. that's how we know that Bitcoin is most expensive and Eth is second in line etc..

Cryptos are neither shares of the company giving them out nor they have any value if not pitched against fiats.. hence there is no taking over in any case... there however will surely be a very interesting co-existence!!!

It's like that series - Alien Nation in the 1990s where alien life form crashes down on to earth and then were cohabiting with humans and even multiplying at a later stage.. so will be the case here :0)

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Yes and it's already started! Every new day new investors arrives to the cryptocurrency market and start to invest. An these people started to use bitcoin or altcoins for use for the sending payments, shopping and etc. Millions of people and thier number raising every day! So the paper money started to fade slowly. It is obviouss that in near future we will stop to carry paper money..
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Who knows? Could anyone predict that the Internet will become such a important part of all businesses at it's early years in the 90's? No one could have known that back then! It's similar with cryptocurrencies... The only thing that could keep fiat currencies even if they are not needed anymore are banks and their greed.
Of course, I don't expect that to happen any time soon. But in 20, 30 years... Who knows?
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I think they will coexist - It is very hard to USURP fiat completely at this point, it's hard to put the toothpaste back in the tube once it's out.
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In the near future (~20 years) => Fiat currency will still be widely used.
21 - 100 years from now => Fiat and cryptocurrencies will co-exist .
100+ years from now => Cryptocurrencies will completely replace fiat currency.
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They will coexist for some time but maybe way in the future fiat will disappear but it will not happen in anyones lifetime who is alive currently.
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they both will coexist,because each other needs each other
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Bitcoin will eventually replace the U.S. dollar and all other fiat currencies. When this will happen, nobody knows. However, a recent UBS study concludes that for Bitcoin to replace the U.S. currency, it has to reach a value of about $213,000 USD. So we still have long way to go..
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I don't think cryptos will replace fiat. This is because not everyone in the planet is going digital anytime soon especially in thurd world countries. The system of payment that we have now is already time tested and is working fine up til now. But I really believe that crypto can work well with fiat. This is because it allows for a wider range of payment digitally. There is no other payment system that is more convenient than crypto for now.
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