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[Josemendez]

Crypto currencies are currencies like bitcoin , litecoin ,etc. They are not controlled by a legal body and their transactipn is through block chains .whereas
Fiat currencies are those currencies that the government control which can be touched and is generally accepted .
Recently crypto currencies are trying to challenge fiat currencies. They are now getting online acceptance in some sales sites . Governments in order to protect their currency have restricted their use on their country.
Will crypto currency be able to surpress fiat currencies?

 

[KarthikP]

That really depends only on the country and it's government policies. Countries like China , Iran may not accept Bitcoin as payment method. Much developed countries like US , UK may accept Bitcoin as a payment method.

 

[Brain]

I doubt if this will even happen, as it is cryptos are banned in some countries including my home country and it has not been recognize as legal money unlike Fiat currencies. So is no way it will compete with Fiat currencies or even surpass it.

 

[Rollerkid]

Each of them has different functions to perform in finance. Using cryptocurrencies as a form of payment is a very risky as they are not stable and you can easily lose your money if they fail to make it. Fiat on the other hand, are less volatile and doesn't involve less risks when used as payment methods.

 

[Wisdom01]

Yeah but i think it might be hard for such thing to happen because most people can use crypto to purchase goods with little profit due to the price flunctuation

 

[BullyMaguire]

I think the only way is when governments are already accepting them as a legitimate currency. Either they will find a way to somehow gain control. Make their own which they control

 

[Rollerkid]

Yeah but i think it might be hard for such thing to happen because most people can use crypto to purchase goods with little profit due to the price flunctuation

For sure it will be hard for crypto currencies to over come fiat payment systems. Maybe when the usage of crypto currency is regulated, it can tend to compete with fiat.

 

[Wisdom01]

For sure it will be hard for crypto currencies to over come fiat payment systems. Maybe when the usage of crypto currency is regulated, it can tend to compete with fiat.

With regulation it would still be hard due to the flunctuation unless people start making use of stable coin i think

 

[GoldenLady]

Government find a lot of power and control over their people through fiat currencies.

Cryptocurrency is trying to wrestle away that advantage, and the government will surely fight back, so no, cryptocurrency cannot overcome fiat currency.

 

[Wisdom01]

I think the only way is when governments are already accepting them as a legitimate currency. Either they will find a way to somehow gain control. Make their own which they control

Yeah i think they would be very happy and pleased if they can create their own and control it , because the government are always unhappy with crypto

 

[Balint098]

If the government is open, free and democratic then they can only restrict crypto movement but not completely block it. Smarter government will find a way to profit from crypto itself.

 

[Ewogboka]

If the government is open, free and democratic then they can only restrict crypto movement but not completely block it. Smarter government will find a way to profit from crypto itself.

The government of Nigeria actually prefer people to leave and wallow in poverty instead of striving to survive. This policy is better reversed.

 

[Rollerkid]

With regulation it would still be hard due to the flunctuation unless people start making use of stable coin i think

Yeah, I agree with you. But I still think it might still be possible that someday cryptoc urrencies like bitcoin and ethereum may be seen much valuable to the institutions especially.

 

[Wisdom01]

Yeah, I agree with you. But I still think it might still be possible that someday cryptoc urrencies like bitcoin and ethereum may be seen much valuable to the institutions especially.

It would but the problem is that most banks actually see crypto as a competition. , so they are not really interested i wonder how it would be valuable to them

 

[Rollerkid]

It would but the problem is that most banks actually see crypto as a competition. , so they are not really interested i wonder how it would be valuable to them

Yeah, I know of the banks situations. But what of those financial institutions that are already using crypto currencies like bitcoin as their reserves, don't you think they will still value cryptocurrencies.

 

[Ewogboka]

The problem with banks is that they don't have enough funds to engage in trading any more, people now control how their money can be more useful and productive to them.

 

[Ewogboka]

The problem with banks is that they don't have enough funds to engage in trading any more, people now control how their money can be more useful and productive to them.

 

[Wisdom01]

Yeah, I know of the banks situations. But what of those financial institutions that are already using crypto currencies like bitcoin as their reserves, don't you think they will still value cryptocurrencies.

Like which of the financial institution that are using it for their reserve, i would like to know more about them , because i mainly know that Banks don't like things like that

 

[achawaskey]

I don't think it will both have different functions, crypto is for online business and does not have bypass is straight to your wallet. Flat are own and control by government.

 

[BullyMaguire]

Yeah i think they would be very happy and pleased if they can create their own and control it , because the government are always unhappy with crypto

Because everything that they cannot take control is bad for them. Even if it benefits their people a lot.. it's all about power and they always want that.