Can Cryptocurrency Be Widely Adopted Like Fiat Counterpart?
Fiat, please clarify. I have not heard about it.
Australia must be behind the rest of the world here as I have not heard about these advancements here. People here are having issues with the fact that one day cash will disappear let alone the introduction of cryptocurrency.
I think that cryptocurrency and its acceptance and wide use may take some time, maybe a generation or two.
I dont know about fiat, can you enlighten me?
Fiat is your local currency
Everything is generational, like technology. Slowly old fashioned physical money will disappear to be replaced with cards initially, phone tapping and crypto. Everything is all going online and becoming virtual.
Fiat money is government-issued currency like the US dollar, Euro or the British Pound.
It’s going to take a while for the cryptos to fully replace or be adopted as currencies.
As the cryptoccurencies is not a tangible money and is not accepted by most countries. It will time to replaced the physical currency.
Who will believe that bitcoin will be known as much as it is known today. I think it will be acceptable as fast as possible.
It can be accepted by most countries but i will take long time. Bitcoin is the cryptocurrency that most people use to Buy products online nowadays, but still many countries didn’t accept it .
It will definitely be widely accepted like fiat currency. However, it will take to time for it to be widely accepted.
It might. The central bank in many countries have started to encourage digital banking. It is the with the Central Bank of Indonesia. Currently, the BI has fostered digitalization of financial system. In the process, they also considered the cryptocurrencies.
Hi Kenneth, I can’t agree less. It is just a matter of time before it is accepted as fiat currency.