-snip-
Fiat and crypto will compete to be the best for users to make financial transaction. So Crypto is basically not created to replace fiat, but to provide an alternative for anyone to try various innovations in the financial system. We are definitely talking about bitcoin because it is one of the cryptocurrencies that qualifies to compete with fiat in the long term. The decentralization that come with it is what is most likely to be seen as something different from fiat. Yes, that's the advantage of bitcoin although we can expect something bigger from it like security, fees and anonymity. 
Topic: Cryptocurrency: The Future of Finance in a New World Order? (Read 1016 times)
Cryptocurrency will not replace traditional currencies. Cryptocurrency will only become the future economic trend. It has not been used by more countries, and it is not very convenient in daily transactions. It has many problems and cannot always be used as a major currency.
Crypto's been improving day-by-day, so it should only be a matter of time before it becomes as good as Fiat for mainstream payments. I wouldn't say it'll replace Fiat, simply because it's decentralized. Governments won't allow something that's outside of their control to take over Fiat. The so-called "New World Order" will look almost the same as it is right now with the only difference that countries will have their own digital Fiat currencies. It's probable CBDCs and decentralized cryptocurrencies will co-exist for generations. In a cashless society, people will get to choose the type of currency they want for daily payments. Instead of trying to replace the current banking system, we should try to make crypto/Blockchain tech a better contender against Fiat. As long as people achieve financial freedom, nothing else matters. Just my opinion
The use of Cryptocurrency is a controlled and monetary system and it makes it lose the importance of a blockchain technology. since people don't know how to use blockchain technology it is guiding us and it can be used in anything that will help people if they only know how to use it to get effective results and way to get currencie I hope and with all that someday change will happen any day to come and not just in the financial system but all the way it’s easy to try the way make it easy to work everyone this is still hoping.
Although the title of this thread speaks of order, you have a mess of ideas, but still we can get something out, I think that using blockchain technology is not difficult, in fact it is really easy, now well delve into certain basic concepts maybe yes It requires delving into the subject, but the information is there and is accessible to all, it is not that it is difficult, we must stop being lazy.
If we want bitcoin or any other worthwhile Alts to generate changes, individuals must help, we must stop mental laziness in the first instance and in the second variable stop putting the bluff that using cryptocurrencies is difficult.
I fully agree with you, because I think that BTC should not have any kind of confrontation with FIAT money, both FIAT money and BTC and cryptocurrencies represent money and money is what everyone is looking for.
Also, if BTC were to replace fiat, and if fiat disappears, what would be the currency to buy for the price of BTC? Would all of that be handled by gold? since gold would respect "Safe" for many people in the world. These questions is the one I always ask myself if there is an eventual fall in USD and Euros, and all currencies at the global level, what value would BTC take?
Also, if BTC were to replace fiat, and if fiat disappears, what would be the currency to buy for the price of BTC? Would all of that be handled by gold? since gold would respect "Safe" for many people in the world. These questions is the one I always ask myself if there is an eventual fall in USD and Euros, and all currencies at the global level, what value would BTC take?
If BTC replaces Fiat, then it'll become the "gold standard" of our economy. There's no need to measure its value against Gold, since the cryptocurrency is able to live on its own. In a future where decentralized cryptocurrencies reign supreme, people will value things in terms of Bitcoin instead of Fiat. This would make more sense if Bitcoin becomes the next reserve currency of the world. But I don't think this will ever happen, especially when governments don't want to lose control over the mainstream economy. Countries will have their own currencies, just like it's the case today. The only difference is that paper money will no longer be used, as central banks digitize Fiat through CBDCs. People will get to choose their currency of preference depending on their needs. As long as decentralization prevails, nothing else matters. Just my thoughts
Just imagining that the BTC will have its own way of measuring itself against gold is something unique, but hey, El Salvador has already started down that path, and it is not far from a good economic change, the FED no longer knows how it does to continue to make up the numbers, so much so that they are giving reports little by little of a possible collapse, this is done in disguise through the high inflation that has been generated in the US economy, and not only there, countries like Colombia have inflation already It goes for more than 5%, I saw this on the Canal Caracol Noticias chain, and 5% is quite representative, so much so that they increased the base salary.
The use of Cryptocurrency is a controlled and monetary system and it makes it lose the importance of a blockchain technology. since people don't know how to use blockchain technology it is guiding us and it can be used in anything that will help people if they only know how to use it to get effective results and way to get currencie I hope and with all that someday change will happen any day to come and not just in the financial system but all the way it’s easy to try the way make it easy to work everyone this is still hoping.
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
bitcoin really cannot replace fiat currency because the price of bitcoin is very unstable or very volatile. one of the requirements to become a currency is to have a stable value, of course this requirement cannot be met by bitcoin. maybe if every country created their own crypto that has a stable value it could happen, but to replace fiat currency as a whole seems very difficult. Well, that is not the main point of replacing it as a fiat. The truth is that Fiat is also volatile, but with cents only, but it has a huge impact on the economy. It doesnt mean that if it is volatile, then it cant replace the fiat. The main reason is that Fiat is really established right now, in remote areas where they can use it, unlike Bitcoin, in those remote areas that don't know what it is and how to use it. It should be used by everyone. There are no flaws in our fiat system right now, but I know that in the future it will be digitalized.
but if we talk short term fiat will still exist,
anything can happen and continue to follow developments to be more clear
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
bitcoin really cannot replace fiat currency because the price of bitcoin is very unstable or very volatile. one of the requirements to become a currency is to have a stable value, of course this requirement cannot be met by bitcoin. maybe if every country created their own crypto that has a stable value it could happen, but to replace fiat currency as a whole seems very difficult. Well, that is not the main point of replacing it as a fiat. The truth is that Fiat is also volatile, but with cents only, but it has a huge impact on the economy. It doesnt mean that if it is volatile, then it cant replace the fiat. The main reason is that Fiat is really established right now, in remote areas where they can use it, unlike Bitcoin, in those remote areas that don't know what it is and how to use it. It should be used by everyone. There are no flaws in our fiat system right now, but I know that in the future it will be digitalized.
Cryptocurrency will not replace traditional currencies. Cryptocurrency will only become the future economic trend. It has not been used by more countries, and it is not very convenient in daily transactions. It has many problems and cannot always be used as a major currency.
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
bitcoin really cannot replace fiat currency because the price of bitcoin is very unstable or very volatile. one of the requirements to become a currency is to have a stable value, of course this requirement cannot be met by bitcoin. maybe if every country created their own crypto that has a stable value it could happen, but to replace fiat currency as a whole seems very difficult. Well, that is not the main point of replacing it as a fiat. The truth is that Fiat is also volatile, but with cents only, but it has a huge impact on the economy. It doesnt mean that if it is volatile, then it cant replace the fiat. The main reason is that Fiat is really established right now, in remote areas where they can use it, unlike Bitcoin, in those remote areas that don't know what it is and how to use it. It should be used by everyone. There are no flaws in our fiat system right now, but I know that in the future it will be digitalized.
I fully agree with you, because I think that BTC should not have any kind of confrontation with FIAT money, both FIAT money and BTC and cryptocurrencies represent money and money is what everyone is looking for.
Also, if BTC were to replace fiat, and if fiat disappears, what would be the currency to buy for the price of BTC? Would all of that be handled by gold? since gold would respect "Safe" for many people in the world. These questions is the one I always ask myself if there is an eventual fall in USD and Euros, and all currencies at the global level, what value would BTC take?
Also, if BTC were to replace fiat, and if fiat disappears, what would be the currency to buy for the price of BTC? Would all of that be handled by gold? since gold would respect "Safe" for many people in the world. These questions is the one I always ask myself if there is an eventual fall in USD and Euros, and all currencies at the global level, what value would BTC take?
If BTC replaces Fiat, then it'll become the "gold standard" of our economy. There's no need to measure its value against Gold, since the cryptocurrency is able to live on its own. In a future where decentralized cryptocurrencies reign supreme, people will value things in terms of Bitcoin instead of Fiat. This would make more sense if Bitcoin becomes the next reserve currency of the world. But I don't think this will ever happen, especially when governments don't want to lose control over the mainstream economy. Countries will have their own currencies, just like it's the case today. The only difference is that paper money will no longer be used, as central banks digitize Fiat through CBDCs. People will get to choose their currency of preference depending on their needs. As long as decentralization prevails, nothing else matters. Just my thoughts
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
bitcoin really cannot replace fiat currency because the price of bitcoin is very unstable or very volatile. one of the requirements to become a currency is to have a stable value, of course this requirement cannot be met by bitcoin. maybe if every country created their own crypto that has a stable value it could happen, but to replace fiat currency as a whole seems very difficult. I fully agree with you, because I think that BTC should not have any kind of confrontation with FIAT money, both FIAT money and BTC and cryptocurrencies represent money and money is what everyone is looking for.
Also, if BTC were to replace fiat, and if fiat disappears, what would be the currency to buy for the price of BTC? Would all of that be handled by gold? since gold would respect "Safe" for many people in the world. These questions is the one I always ask myself if there is an eventual fall in USD and Euros, and all currencies at the global level, what value would BTC take?
In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
https://www.ithb.ac.id/en/article/Cryptocurrency:-Masa-Depan-Keuangan-Tatanan-Dunia-Baru--31
https://www.ithb.ac.id/en/article/Cryptocurrency:-Masa-Depan-Keuangan-Tatanan-Dunia-Baru--31
1. The launch cannot be said it was official perse since it was not until the price spike that it was recognized all around the world, by the governments as well.
2. It does not serve as a threat to the existence of non-conventional finances since at the end of the day, it works hand in hand with most banks, trading and converting it into fiat is very essential.
3. They are the future of the finance only when integrated with the traditional system and with the support of the government and people alike
They are giving people financial freedom and stability which most traditional assets fail to provide during pandemic.
4. They should not be seen as a threat but rather an upgrade!! This is just my thinking.
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
I really don't know where you get that information, because it's slightly opposite from the reality. Or maybe you're the one who's out of reality.Anyways, yes, cryptocurrencies also known as digital currencies is indeed the future of finance especially bitcoin and other trusted promising altcoins. Why? Because cryptocurrencies were originally made to help the mankind after the 2008 economic crash, to have other options for securing assets and some were created as digital currencies for online transactions, etc.
But if you say that crypto will replace fiat? Nah, that ain't gonna happen because local fiats are their for a reason, and it's backed by the government and their gold reserve. Fiats will always be there because there are still plenty who will choose it over crypto like for paying bills and groceries.
I am still yet to understand the reason why some of you would think that it is for replacing fiat and physical cash that bitcoin was created for? It’s simply for transaction, yes a lot of people would choose it, but it is not replacing anything. It’s a mindset that bitcoin is replacing our conventional currencies that’s making governments in some countries to be banning it, we should stop giving them that impression.
Everything is going to be balanced, although I do know that there will be some sectors of the banking world that will be destabilized because of bitcoin, such as Western Union, MoneyGram and the rest of them, because will choose to use Bitcoin for international transactions, than going to banks and doing paper works and waiting for days for their transactions to be carried out.
Of course, cryptocurrency cannot replace fiat money. This requires the decision of the relevant government agencies, and they will never agree to this because of their planned economy, which will require a relatively stable centralized currency. At the same time, we see that banks are switching to using blockchain technology and their system is becoming more efficient in their work. The stablecoins of the central banks of states will also increase the efficiency of the current global financial system. That is, over time, cryptocurrency will simply occupy its niche in the current financial system.Everything is going to be balanced, although I do know that there will be some sectors of the banking world that will be destabilized because of bitcoin, such as Western Union, MoneyGram and the rest of them, because will choose to use Bitcoin for international transactions, than going to banks and doing paper works and waiting for days for their transactions to be carried out.
On the other hand Crypto will continue to grow and indeed even though they will never replace fiat but they have so far been a pretty good thing to watch and will continue to do so.
I think the future economy will indeed use the same system, which is still in a centralized style, but on the other hand, crypto will continue to exist and even I think its position will become more equal and even more popular in the future.
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
bitcoin really cannot replace fiat currency because the price of bitcoin is very unstable or very volatile. one of the requirements to become a currency is to have a stable value, of course this requirement cannot be met by bitcoin. maybe if every country created their own crypto that has a stable value it could happen, but to replace fiat currency as a whole seems very difficult. Of course, cryptocurrency cannot replace fiat money. This requires the decision of the relevant government agencies, and they will never agree to this because of their planned economy, which will require a relatively stable centralized currency. At the same time, we see that banks are switching to using blockchain technology and their system is becoming more efficient in their work. The stablecoins of the central banks of states will also increase the efficiency of the current global financial system. That is, over time, cryptocurrency will simply occupy its niche in the current financial system.
Unless governments adopt decentralized cryptocurrencies on top of Fiat, I don't see the current banking system going anywhere soon. With CBDCs bound to become a reality soon, crypto will only remain as an alternative to Fiat. It's hard to believe that a "New World Order" will rely on a single currency when governments are unable to reach a common agreement. A CBDC (Central Bank Digital Currency) cannot be called a cryptocurrency simply because it's centralized. We're still in the early stages of crypto/Blockchain tech development, so anything can happen in the future.
What matters is that decentralization prevails in order to render governments' efforts futile. As long as people have financial freedom, nothing else matters. Just my thoughts
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
Yes but the OP referred to a potential new world order, hence who is in control over the currency that the people are using? Is it a decentralized network like Bitcoin and will it stay decentralized for its most part? Or will it be a digital currency forced up onto the citizens around the world? Those are two very different scenarios with different consequences for everyone. No matter what is going to happen, but it is important to have decentralized systems like Bitcoin, Ethereum etc. just to have some counterpart to any Central Bank Digital Currency that might get established. Nobody can really know how it pans out exactly over the next ten or so years, but a ban of cryptocurrencies passed by old politicians would be a mistake and shortsighted. However, if we are talking about new world order then people at the top (there is always some people at the top) may look at crypto in a different light. That is why I believe that crypto could be the currency of the future, or maybe none of that will happen and crypto will just become a popular alternative to payment methods we have right now.
Like we do pay with cash, or we pay with card, that is 95%+ of all payments in the world when you go to a place, or we wire transfer money to other people if it is not in person payments, all of that could be replaced with crypto, so it will be a good alternative in the future.
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
Yes but the OP referred to a potential new world order, hence who is in control over the currency that the people are using? Is it a decentralized network like Bitcoin and will it stay decentralized for its most part? Or will it be a digital currency forced up onto the citizens around the world? Those are two very different scenarios with different consequences for everyone. No matter what is going to happen, but it is important to have decentralized systems like Bitcoin, Ethereum etc. just to have some counterpart to any Central Bank Digital Currency that might get established. Nobody can really know how it pans out exactly over the next ten or so years, but a ban of cryptocurrencies passed by old politicians would be a mistake and shortsighted.
Digital currencies are definitely the future of the finance now. There is no way out of this so some people who are antagonists to Bitcoin and the rest of the cryptocurrencies should stop their attitude for their own benefit. In the future, we won't have any fiat currency left. In this kind of a world, people will have no choice other than using digital currencies. It is better to make an effort to get used to them already now.
I am still yet to understand the reason why some of you would think that it is for replacing fiat and physical cash that bitcoin was created for? It’s simply for transaction, yes a lot of people would choose it, but it is not replacing anything. It’s a mindset that bitcoin is replacing our conventional currencies that’s making governments in some countries to be banning it, we should stop giving them that impression.
Everything is going to be balanced, although I do know that there will be some sectors of the banking world that will be destabilized because of bitcoin, such as Western Union, MoneyGram and the rest of them, because will choose to use Bitcoin for international transactions, than going to banks and doing paper works and waiting for days for their transactions to be carried out.
Of course, cryptocurrency cannot replace fiat money. This requires the decision of the relevant government agencies, and they will never agree to this because of their planned economy, which will require a relatively stable centralized currency. At the same time, we see that banks are switching to using blockchain technology and their system is becoming more efficient in their work. The stablecoins of the central banks of states will also increase the efficiency of the current global financial system. That is, over time, cryptocurrency will simply occupy its niche in the current financial system.Everything is going to be balanced, although I do know that there will be some sectors of the banking world that will be destabilized because of bitcoin, such as Western Union, MoneyGram and the rest of them, because will choose to use Bitcoin for international transactions, than going to banks and doing paper works and waiting for days for their transactions to be carried out.
I wouldn't be so certain about this. I agree with you that most likely we won't see cryptocurrencies fully replace fiat in the next 20 or even 30 years, but the economy and the global financial system will certainly change somehow. But could it be possible that the global financial system will one day be ruled more by the private sector than by the public sector? Or that we have some algorithms and applications taking on some of the roles the government now has?
I am not saying I am certain it will be like that, but I would neither rule that possibility out. Taking into account that governments are not very well known for driving innovation, chances are high that privately developed applications and infrastructure will play an ever more important role over time.
Jump to: