Topic: Bitcoin and Fiat - this is how I see the future - page 19. (Read 3960 times)
Bitcoin can help improve our monetary system in the future, and it can reduce people's dependence on Fiat.
Personally, I see the future without fiat money, but a full cashless settlement. The Internet currency is the currency of the future, there will be a word behind it.
I don't think so, whatever happen Fiat currency would not disappear. Fiat currency is controlled by a government and the good thing about it is that if something happens to your money you still have the chance to recover it by recovering all you bank transaction. Unlike crypto, if you make some mistakes you can never retrieve it anymore. And most of the time elders are no longer interested to learn this kind of technology and they prefer to use Fiat currency. So I think this could never happen, being a cashless society.
The government will have thought of the analogy you made, selling the car with cryptocurrency and the government will get taxes or sell cars with cash and the government will not get taxes. If it is true that cryptocurrency is accepted by the government and the government will get a share of each transaction from each cryptocurrency user, I think cryptocurrency users can trick the government.
I mean, every user can exchange cryptocurrency to fiat currency and the user will make payment with fiat currency with the reason to avoid tax by a government. The thing of tax government will have a smart to set up, and if only rely on taxes alone the government will never to think and accept cryptocurrency. But I hope if the government accepts the use of cryptocurrency they see in terms of function and benefits that will be generated.
I mean, every user can exchange cryptocurrency to fiat currency and the user will make payment with fiat currency with the reason to avoid tax by a government. The thing of tax government will have a smart to set up, and if only rely on taxes alone the government will never to think and accept cryptocurrency. But I hope if the government accepts the use of cryptocurrency they see in terms of function and benefits that will be generated.
Thats good observation but i think crypto will invade fiat in the future, i see it as extinct money that time because it will be a cashless world. So we will be focusing on digital money.
At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
This was the main reason for bitcoin to be invented, this is why it's called to be a form of digital cash, when it comes to cash you do not need authorization from the governments or a bank to give your cash away and the same is true for bitcoin, this is why they are not very happy with bitcoin but they have no idea how to deal with it, they cannot ban it but regulation is not going to work either. So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
Definitely yes more income tax if bitcoin can controlled by government but how they able to make bilateral meeting to meet their representative for closely agreement for taxable deduction which is until now nobody can own this bitcoin Flatform it is only in DIGITAL VIRTUAL CURRENCY no one can manipulate this.
Lets see what happen in the future and wait for our government but i think bitcoin and fiat are good partner because this two have a different way of uses that important to our daily life.
Crypto currency is able to displace fiat only up to a certain level. Completely fiat will not disappear. There will always be people who will defend their right to use cash and there will be situations for its exclusive use.
Bitcoin and other decentralized crypto currency of the state will not be used because of its high volatility. They will use various centralized coins, including, first of all, national ones. Citizens can choose which crypto currency - centralized or decentralized it is to use.
it will be a long way of process before that time will come, and we all knew that there are so many consequences that will happen, one of those could be arguements to which currency we should use or not, but it doesn't actually mean that we should compare both of them and the other way around. Bitcoin and other decentralized crypto currency of the state will not be used because of its high volatility. They will use various centralized coins, including, first of all, national ones. Citizens can choose which crypto currency - centralized or decentralized it is to use.
Hopefully in the future this 2 types of currency become partner for better economy.
Crypto currency is able to displace fiat only up to a certain level. Completely fiat will not disappear. There will always be people who will defend their right to use cash and there will be situations for its exclusive use.
Bitcoin and other decentralized crypto currency of the state will not be used because of its high volatility. They will use various centralized coins, including, first of all, national ones. Citizens can choose which crypto currency - centralized or decentralized it is to use.
Bitcoin and other decentralized crypto currency of the state will not be used because of its high volatility. They will use various centralized coins, including, first of all, national ones. Citizens can choose which crypto currency - centralized or decentralized it is to use.
At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
In my own opinion, if the entire world or most of the people who are living in a country will be preferring cryptocurrency over fiat and governments can do nothing about that because people will always look for an alternative way to earn money and cryptocurrency is the answer.
At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
In my own opinion, if the entire world or most of the people who are living in a country will be preferring cryptocurrency over fiat and governments can do nothing about that because people will always look for an alternative way to earn money and cryptocurrency is the answer.
I agree with you that the government has the ability to take over the encrypted world if bitcoin can not develop without the support of the government.
Being able to control the income, money and properties of the citizens is the main reason why most governments refuse to recognize or regard cryptocurrency most especially bitcoin as an online currency even though it made payment possible and less stressful for the users. Most governments are greedy and supremacy and wants to control every financial aspect of their citizens lives which seems unfair.
Bitcoin and FIAT will go a long way, not until the government adopt the crypto or Bitcoin as main currency for digital transaction. this is the main issue on Regulation by countries who are looking into the Crypto trading market or the digital transaction, the other thing they are looking into is the Taxes imposed or possible taxation on all digital transaction using Bitcoin on the market treed. Bitcoin will remain in the market treed as well as the FIAT of different country NOT until the total acceptance of Bitcoin as main currency globally.
Unfortunately, the governments always want to exploit users through a huge value of taxes, and due to they cannot control the cryptocurrencies through the transactions, that's why in these years there have been numerous attacks by governments in order to destroy Bitcoin but they always fail to achieve their goals because the field of cryptocurrency is very secure.
On the other hand, I expect that the future will be better than now in terms of the recognition of Bitcoin and the other cryptocurrencies by the countries, and possibly, there will be a good development, because I saw many countries that has a strategies in order to benefit from Blockchain technology, and they want to achieve those plans in the future (after a few years) and I think that FIAT will disappear soon.
On the other hand, I expect that the future will be better than now in terms of the recognition of Bitcoin and the other cryptocurrencies by the countries, and possibly, there will be a good development, because I saw many countries that has a strategies in order to benefit from Blockchain technology, and they want to achieve those plans in the future (after a few years) and I think that FIAT will disappear soon.
At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
Right now, this is what we are experiencing. The synchronization of Fiat currency and cryptocurrency is now in reality where some of the nation's government regulated it to have a legal legit wallet for the citizens to be used.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
Bitcoin is examples of open cryptocurrencies. Everyone can see how much money you have on your wallets, how much it you send and who gets this money.
When you sell your car to someone, there will be a transfer of ownership to you and this will leave a paper trail for the IRS or whatever tax authority. When they audit you or if someone else report you to the tax authorities, you will have to explain your wealth to them and what you used to pay for that.
Governments and tax authorities have full control, no matter what you think.
I agree. Even in the cryptocurrency world, governments still can implement taxes through our local exchanges and that is why we are paying it passively everytime we convert our cryptocurrency funds into fiat money. Being in a cashless society will still be under controlled by governments and we cannot escape or evade tax generally. Bitcoin will be our best investment or other cryptos while fiat will be good for economic stability so I think having both assets will make sense.Governments and tax authorities have full control, no matter what you think.
The fiat currency system may be seriously tested over the coming decade and ultimately we may need to find an alternative. Cryptocurrencies are all the rage at the moment and are as much about blockchain as anything else, but there could be an increasing desire for alternative mediums of exchange in the years to come. Keep in mind that fiat money is a relatively young innovation and it's only truly been the norm.
I agree, Fiat currency will have an alternative currency in the future, I see the future will be digitize so that we need digital money also, Bitcoin is one of the choices, It will stand until the very next generation, so it is possibly will dominate the other currencies including fiat. Bitcoin just need to be consider by other countries.
At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
Your reasoning is not entirely correct. Cash is also controlled by the state to receive taxes. For example, in your example of buying and selling a car, such a transaction, as a rule, is formalized by a notary or through the relevant state authorities. At the same time, notaries and these state bodies are charged with paying a certain percentage of the transaction as a tax. Even if we go to a regular store and buy certain goods of small value, the price includes the value-added tax, which we simultaneously pay. We almost do not notice it, however, as a rule, we pay taxes even when calculating in ordinary paper money. Only when calculating between citizens, if such calculations do not require any assurance by third parties, the state can not fix them. However, such transactions are not so much.So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
Of course, any transactions with non-cash money the state has the ability to control completely.
If fiat is going to remain up until in the future I think there will be major upgrades regarding to fiat and bitcoin, first and foremost Bitcoin will be way different and hopefully it is much more imrpoved and advanced, on the other hand I think fiat will be more advanced as well, people will greatly be using both fiat and Bitcoin in the near future.
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