Do you think cryptocurrency will ever be able to replace standard fiat currencies?
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Currently cryptocurrencies are in a positions where few countries like US and Japan has made it legal and one can do shopping there using it. But a majority of counties have not made it official to use in place of fiat. Though many of the countries haven't made it possible to buy things using cryptocurrency but have given options to trade using banking system. Even currently India and China are not clear with their stand about Crypto.
Certainly we can't see it happening in couple of years but probably in future which would be around next 10 to 15 years we can hope to replace fiat with cryptocurrency.
This is quite possible that people will get options to pay through fiat or cryptocurrency in next 5 years looking at the rate of adoption in many countries. But replacing fiat will surely take a very long time.
At last I would say cryptocurrencies are the future but that to become our daily life we have to wait.
Thanks for stopping by.
Regards appreciated @alokkumar121.
You're right, these are the future. But also these are already the present. These are in our daily life and many of us have not yet noticed to what scale.
For the replacement of FIAT to occur due to crypto, many things must happen. Remember that the fiat in any nation represents economic stability. We could even say that it is part of their own identity as a nation. Then the replacement of fiat represents a partial loss of its own identity. Do not you think so?
All best, Piotr.
I agree with you @crypto.piotr that fiat is an economic identity of the country so replacing it will surely not be easy.
Though its not certain whether it will happen or not because we can't predict the future as of now. But i hope in future Crypto might become an equal option for payment for all our shopping purposes.
Thanks Friend and Hope you're enjoying your valentine day with your wife. Take care
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Love your comments @alokkumar121
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No I do not think that will happen and if so every country has its own and in the end it is the same as we have now
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Your point is valid but after 20 years this is possibility and totally depends upon technology and Govt.
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Exactly. In 20 years I am probably dead. By now the Dutch government is already interfering, checking out everything, you are not anonymous and the tax is there so all kind of costs. The benefit is not really there at this moment.
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It might take even longer as they have to run in parallel for some time. Just an advice, voting within the 1st 15 mts the money goes to the reward pool and the author gets nothing
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I agree with you. It will take very long to replace and that's not even easy but as a payment options we can see in few years but again nothing is guaranteed.
Noted on advice brother. Will be careful.
It already started. This is by @dragosroua
https://steemit.com/bitcoin/@dragosroua/live-in-argentina-now-you-can-pay-with-bitcoin-your-public-transportation
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