Quote from: crossabdd on October 16, 2019, 12:14:26 PM

Quote from: metallica101 on October 16, 2019, 06:39:50 AM

Quote from: crossabdd on October 16, 2019, 05:50:43 AM

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion

I believe that the world might end up using a single, digital currency, but not as soon as in a decade or two. Maybe in 50 or so years, or maybe even longer than that. Is that currency going to be Bitcoin? Maybe, but not likely. If anything, Bitcoin will evolve into a store of value, and something else will become a currency for everyday use. However, to answer your question, I expect that crypto and fiat will coexist for a long time before fiat finally goes extinct. It will have to happen eventually, but the process will be slow. At first, cryptos will be something used by a rare few, even though it will be accepted by most merchants and services. Then, people will start using it more, and in the end, fiat will likely be a back-up currency, most likely existing only in bank accounts and spent via the credit cards. We are becoming more and more cashless with each passing year, and the change is inevitable. All that remains to see is how long it will take.

yes guys, i feel it too. every day the use of fiat money began to decrease, and switch to debit and credit cards. Fiat currency changes to the number display on the screen. so the possibility of paper money and coins will be destroyed in some future time. because all systems have entered the internet network.

I do have the feeling that paper money and coins won't be destroyed, Paper money does a large part on economy and it will be hard if paper money disappears. We know that if we want to have fewer hassle transactions in real life we do need fiat than credit card especially that not every store is accepting credit card or crypto. Imagine how would each government get rid of every fiat and coins in their own country. I believe that fiat will stay and It will be joined by cards, cryptocurrency and other payment methods available in the future.