01-11-2022, 05:13 AM
Cryptocurrencies will not "kill" fiat and people who think so are ignorant. But, Cry
<!-- SC_OFF --><div class="md"><p>Many "advocates" of cryptocurrencies often say that the revolution is coming to us and that cryptocurrencies will take down Fiat. </p> <p>Sometimes individuals remind us that the whole purpose of cryptocurrencies is that a decentralized financial system allows us freedom and independence from a third party as we conduct our transactions. </p> <p>But still crypto will never replace fiat fully. </p> <p>Crypto and Fiat will coexist. </p> <p>Fiat money has been used for longer and is accepted more globally then crypto, but crypto offers many advantages that fiat currencies do not have, especially when we talk about inflation and creating a fair financial system. </p> <p>Unlike gold that has gold in it and silver that has silver in it ,fiat as paper has worthless paper in it.</p> <p>But the central government gives value to this paper and it exists only because the central government says that it has purchasing power. Also, with the help of the central power, states preserve power, and thus peace with all manipulation that comes with it. </p> <p>It is precisely those states that will simply never hand over that power, but will jealously guard it, and whatever crypto does, fiat will historically still be there. </p> <p>Crypto will not replace Fiat, but with cryptocurrencies we get one strong alternative that we can use whenever we want, and banks will therefore have to change their business.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/UnexperiencedIT"> /u/UnexperiencedIT </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s0j4bp/cryptocurrencies_will_not_kill_fiat_and_people/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s0j4bp/cryptocurrencies_will_not_kill_fiat_and_people/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Many "advocates" of cryptocurrencies often say that the revolution is coming to us and that cryptocurrencies will take down Fiat. </p> <p>Sometimes individuals remind us that the whole purpose of cryptocurrencies is that a decentralized financial system allows us freedom and independence from a third party as we conduct our transactions. </p> <p>But still crypto will never replace fiat fully. </p> <p>Crypto and Fiat will coexist. </p> <p>Fiat money has been used for longer and is accepted more globally then crypto, but crypto offers many advantages that fiat currencies do not have, especially when we talk about inflation and creating a fair financial system. </p> <p>Unlike gold that has gold in it and silver that has silver in it ,fiat as paper has worthless paper in it.</p> <p>But the central government gives value to this paper and it exists only because the central government says that it has purchasing power. Also, with the help of the central power, states preserve power, and thus peace with all manipulation that comes with it. </p> <p>It is precisely those states that will simply never hand over that power, but will jealously guard it, and whatever crypto does, fiat will historically still be there. </p> <p>Crypto will not replace Fiat, but with cryptocurrencies we get one strong alternative that we can use whenever we want, and banks will therefore have to change their business.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/UnexperiencedIT"> /u/UnexperiencedIT </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s0j4bp/cryptocurrencies_will_not_kill_fiat_and_people/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s0j4bp/cryptocurrencies_will_not_kill_fiat_and_people/">[comments]</a></span>Kind Regards R