Topic: Bitcoin and Fiat - this is how I see the future - page 23. (Read 3960 times)
To be frank we are here in the crypto currency and that’s why we always like to see our bitcoin or other crypto currency to take the place of fiat currency. Somehow we start to correlate bitcoin with all other type of ways to transact but that’s just not possible for bitcoin. At least not in today’s date when the crypto is in ambiguous use of real people in terms of laundering, scams, frauds etc. Governemnt will allow its use only when it’s really mandatory or upto the mark.
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.
Sorry to disappoint you, you can hardly trade anonymously with bitcoin or any other non-privacy cryptocurrency. Bitcoin transactions leave trails that can be tracked by forensic investigators. 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.
Fiat will always exist. It is impossible to imagine an economy without cash. Together with Fiat currency, digital currency is also a full-fledged means of payment. Each of the nos has its own advantages and disadvantages. But together they perform one function. The digital currency supports Fiat.
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.
How can people trade anonymously if there is a presence of government? If ever government has a full control on bitcoin and fiat money then it is now centralized. Government know our identity for every transaction we make or even in doing trading. Bitcoin is decentralized digital currency and government is centralized sector that has a full power over fiat money. So,in my opinion bitcoin and fiat will both work for the sake of government and for the better living of many people. It will both become important in our economy and i hope someday government will know it ,so that they will also give importance to bitcoin as decentralized currency like fiat money.
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.
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.
Fiat will always exist. Cryptocurrencies can meet the needs of small scale. For the existence of the state it is necessary that the real sector of the economy. This is only possible with the help of Fiat. People who believe that cryptocurrencies can displace Fiat do not understand the basics of the economy. 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.
In my opinion, cryptocurrency will be widely used in the future because there are a lot of people today in the corporate world who are earning a small amount of salary and if they only knew about bitcoins then they switch on it immediately by trading in the market daily.
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.
Trust me, these primary reasons are a lot more secondary than you might think. It's not that governments want to control flow of currency because of money laundering, though those are quite useful and convincing arguments since the sentiment can be quite strong behind them. Governments will use security, safety, terrorist funding, money laundering, to scare you into believing that you can and should give up your rights for the greater good.
But yeah, you have a point. States see Bitcoin as an existential threat. And they should.
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.
Governments and tax authorities have full control, no matter what you think.
Good thinking.
Using credit cards there will be traces of every payment you have made even with debit cards.
I dont believe about the privacy that was said by the banks. Yes another individual cannot look at your account but when it is the government they will give it.
That is the problem with all the governments. Theyhave the power to take something from us withh banks.
So better go with cash or crypto currency.
Very good.
Using credit cards there will be traces of every payment you have made even with debit cards.
I dont believe about the privacy that was said by the banks. Yes another individual cannot look at your account but when it is the government they will give it.
That is the problem with all the governments. Theyhave the power to take something from us withh banks.
So better go with cash or crypto currency.
Very good.
Thats a good thought about the bitcoin and fiat tie up but there are again few more questions that arises. I mean why government will choose bitcoin for this purpose and why they cant just go and rule out the cash itself? So that by declaring that they will be using only digital forms of payments ? They can always do that and same thing is happening in country like India. Where to stop the money laundering they literally changed the currencies throughout the country and declared that use of digital payment will be rewarded. The results were pretty good and I guess its worth to think that government can control it the way they want.
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.
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