FIAT hate has been pretty strong among crypto people but they forget a lot of minute stuff. FIAT of any country has been tied to many things. 1. Taxes 2. Local economy 3. International remittance 4. Nations currency value system connected to international forex When we talk about replacing the FIAT with some cryptocurrency made by foreigners. How do you think it would be pumping its value out of? Most of the crypto has it's origin in russia, china, south korea and EU based nations. All the top 10 coins have developers and companies decentralized. When you want to end your nations FIAT, how do you plan on pumping the dependency? By depending on foreign source code and people for your local values? There is no 100% DEFI, there never will be, no chance of that being reality. There will always be companies and people away from your nation controlling coin asset. Do you want to rely your nations treasury on such 3rd party foreign owned asset? Nobody talks about details, everybody is busy loving Elon musk and hating FIAT. Think before you hate your own nations currency, alternative ain't sweet at all. Image Credit: https://unsplash.com/photos/5fNmWej4tAA
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Yeah I wouldn’t give up fiat off a corporate coin like all these shitcoins but Bitcoin I’ll gladly swap out for, I don’t see fiat dying anytime soon too many people are hopelessly dependant on it and tire their value to those fiat numbers so they’ll fight to protect it even if it’s hurting them
I would not swap it for bitcoin either. 100% electronic economy or anything I am against.