Quote from: darewaller on Today at 02:39:26 PM

Quote from: Korusek on April 21, 2020, 08:41:21 PM

I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.

1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.

2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.

Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.

Cryptocurrency is not here to replace fiat, but we are going to just have it as another method of transaction which is peer-to-peer. The government will as well create their own cryptocurrency, but it's not going to be a replacement, we are just going to have it and it will only be used by those who want to make use of it. It's just like we have the Credit and Debit Cards (Visa and MasterCard), PayPal, Mobile banking apps, and a lot of other payment methods out there that you can use.

Cryptocurrency is just going to be another option to be added to those, with extra features. Probably it may take decades of time for all people of globe to be thinking about switching over to all electronic money and it may take up to a century of time, even we start about compete eradication of paper money right away. People first adopt e-money of their fiats first and then may adopt cryptos. Long phases to be traveled in-between.

You said it right and people would really always end up on using those traditional ways.Even now we do already have electronic payments via fiat and we know or do try to compared among the two in
terms of services offered then we can say that fiat system would really always have the edge.Just like you i dont really believing that much that would go to that certain extent that crypto would be the main
thing on upcoming years but doesnt mean that it wont have the potential.It serves its purpose as an alternative and wont become the main player.As long as government does really exist
they would really still exist and creating their e-fiat if the era would certain change.