As I'm using my laptop, this episode will focus on 2 discussion topics instead of the normal daily news summary. Regular Dailies will resume tomorrow:
Market Recap
ICOs are repeating the mistakes of crowdfunding
Will Bitcoin replace Fiat
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well, my brothers seem to think so... and seeing as they are my "crypto gurus" - I will have to agree same :)
I am still learning here, but enjoying the process, nonetheless and all the info from posts like yours! - so thank you
meet my crypto gurus.. haha
https://steemit.com/life/@jaynie/curry-cousins-and-more-crypto-welcome-to-my-world-4
I love your approach my friend but simple answer is this : Crypto can never replace Fiat, not for many years at least. There's some reason to it.
First of all it is not feasible to use crypto by everyone for every transaction. Second of all majority of world's population are average money makers. They don't have anything to invest, They just earn to survive. So there's no point of crypto for them.
Crypto is basically for investors and speculators at least it is now. No wise investor like Warren buffet is touching crypto because of it's over valuation and volatility.
So, i think crypto will never replace fiat.
Anyways thank you so much for this video, I learn a lot about crypto from your videos. Keep on sharing . @boxmining
So what you're really saying is cryptos just need to become popular enough that employers will offer to pay salary in them? Also, a lot of normal people save for retirement etc. Maybe crypto in it's current form will never replace FIAT, but over time it most likely will.
Yeah, I am exactly saying this. Crypto's can become a great investment option in the long run like equities but it can never cross the fiat currency border. It's decentralized my friend, it'll only replace fiat if it will be centralized. And if it ever become centralized, then the whole purpose of crypto's will be lost.
My feeling is that alot of Countries is going to make "Official cryptos" Before any decentrilised cryptos becomes main stream. Smaller/poor countries will probably adopt decentilised options way faster as they have "real" infrastruction probelms already.
Thankkkkk you man!!
Cryptocurrency can replace fiat in case it is governmental issued, regulated and with low volatility. I know most guys don't want to hear that, but this will be the only option for coming years.
"Will cryptocurrency replace fiat?" is the correct question. Bitcoin has shown an unsettling inability to improve while it falls farther and farther behind 2nd generation innovators.
I don't think Bitcoin will replace any of the larger G3 curriencies, but it amazes me why people in countries like Venezuela or South Africa, don't just put all their fiat into Bitcoin? Even if Bitcoin goes down another 50% from now, it still won't fall as drastic as their fiat currencies.....
that's quite true actually, in the face of hyperinflation, btc is very valuable and you don't even need to carry it out of the country - its global!
By definition btc is a fiat currency as well