The raging war between fiat currency and crypto currency

[Augusta]

We have these two mode of payment now where the latter is a digital asset or money that can used as a form of payment while the former is legal tender of a country( recognized form of money) that is accepted by all government of a particular country for payment and remittance of taxes and debts. The difference here is crypto currency are not controlled by the government or a legal body while fiat currency are. But it seems now that crypto currency is trying to challenge fiat currency as they are getting acceptance online internationally and locally. Thus, some countries are trying to restrict their usage in their countries. But do you think that crypto currency will ever win this war?

 

[Yugocean]

This war is just political war, every currency depends on public acceptance and government permission; if government let the public decide, then there is going to be competition; normally government is always final, however P2P depends on the public. Time will tell who will win, but right now seems crypto is the future.

 

[Alexandoy]

A currency is the pecuniary measure of a country that is legally used by the people. Crypto coin is a commodity and I don't think it should be classified as currency because it does not have the qualities of a currency that we call money. A commodity is a thing that is sold and bought just like bread or clothing items. How can we use the shirt for buying food?

 

[Augusta]

A currency is the pecuniary measure of a country that is legally used by the people. Crypto coin is a commodity and I don't think it should be classified as currency because it does not have the qualities of a currency that we call money. A commodity is a thing that is sold and bought just like bread or clothing items. How can we use the shirt for buying food?

Well, some countries have already adopted it as their legal tender which means it is a legal currency in their countries that is a form of payment. You can use crypto to buy and sell as money so it isn’t just a commodity that should be bought. It is a form of payment

 

[Josemendez]

This is a war that will be on for a long time because the government of various countries will always want to have upper hand when it comes to Financial decisions. Truth be told ,with regulation both cryptocurrency and Fiat currency can coexist and will not have any issues with that. The important thing is that there are favourable laws guiding the two ,because the two method need each other .

 

[Sherman198]

I dont think cryptocurrency has enough of what it takes to outshine or ousted fait currency at this point in time. Most people have not started using Bitcoin or any other kind of cryptocurrencies, but almost everybody, if not everybody are using fiat money. That's why we need to give Bitcoin time to flourish, and be accepted generally before we can now start to debate.

 

[Augusta]

I dont think cryptocurrency has enough of what it takes to outshine or ousted fait currency at this point in time. Most people have not started using Bitcoin or any other kind of cryptocurrencies, but almost everybody, if not everybody are using fiat money. That's why we need to give Bitcoin time to flourish, and be accepted generally before we can now start to debate.

You are right I think time will tell because for now a lot of countries are still on the fence about it usage let alone adopt it as a form of payment. Though I have read about two countries adopting as a legal tender. But the number is too small to take it as a serious thing

 

[Augusta]

This is a war that will be on for a long time because the government of various countries will always want to have upper hand when it comes to Financial decisions. Truth be told ,with regulation both cryptocurrency and Fiat currency can coexist and will not have any issues with that. The important thing is that there are favourable laws guiding the two ,because the two method need each other .

I totally agree with you it seems it going to be a long one because different countries view crypto currency differently.some countries like mine are even very sceptical about it use but other countries are already adopting it. So there seems to be no coordination for now.it take a long time though

 

[Sherman198]

You are right I think time will tell because for now a lot of countries are still on the fence about it usage let alone adopt it as a form of payment. Though I have read about two countries adopting as a legal tender. But the number is too small to take it as a serious thing

That's it.... countries need to start using it before the value can get to anywhere high. But we have some countries who have started making moves to adopt it there as legal tender though, just as you said, but these countries are facing a lot of obstacles from world powers, and as made it more difficult for this countries go ahead with their plan.

 

[Augusta]

That's it.... countries need to start using it before the value can get to anywhere high. But we have some countries who have started making moves to adopt it there as legal tender though, just as you said, but these countries are facing a lot of obstacles from world powers, and as made it more difficult for this countries go ahead with their plan.

Well, other can’t decide for these countries that have decided to adopt it as their legal tender. For me I all for anything that will help to boost an economy. So these countries might come to realize how good it is to use cryptocurrency in their countries. As stated bitcoin is the future and might help a lot of countries

 

[Sherman198]

Well, other can’t decide for these countries that have decided to adopt it as their legal tender. For me I all for anything that will help to boost an economy. So these countries might come to realize how good it is to use cryptocurrency in their countries. As stated bitcoin is the future and might help a lot of countries

Yes they can't decide for them as you have said, but with the superpowers pulling up their power against those small countries who are trying to adopt Bitcoin and cryptocurrencies, those countries should be wary because it's going to affect to them. As IMF is threatening El-Savaldor with expulsion or dismemberment, this may be affecting them in some ways.

 

[sincerem]

Crypto will surely win this kind of raging war, the government just want to control everything. At times individuals control the best things too, and operate it to function legitimately without compromising. I've always believe that crypto is the future, it will be used more offline than the fiat currency cos its simply faster transacting through it via online transactions.

 

[Augusta]

Crypto will surely win this kind of raging war, the government just want to control everything. At times individuals control the best things too, and operate it to function legitimately without compromising. I've always believe that crypto is the future, it will be used more offline than the fiat currency cos its simply faster transacting through it via online transactions.

Well, this has been the idea that crypto currency will be used more in the future but sometimes it looks like the figment of our imagination. This is because some countries are even banning it use while others are so sceptical about it use. So it seems a war that's crypto might not win eventually but let see how it goes