Topic: Cryptocurrency: The Future of Finance in a New World Order? - page 7. (Read 949 times)

They just think about the fiat will be eliminated once the digital currency will be implemented on some countries financial system. Digital transaction is not new actually we already have banking system which offer digital transfer everywhere so there's no way that fiat will go since for sure if crypto will bring a big threat to the fiat system of the country for sure we can see a strict regulation regarding  or worse we will see it prohibited on each country.

I think we’re far from that point, for now, and there isn’t even a certain answer whether a full replacement would actually be for good, the are many pitfalls here.

I agree that the pandemic has, indeed, served as a catalyst, and we’ve been hearing a lot of news of different global companies adopting Bitcoin, and some of the governments also try to regulate things to make it legal. However, if you count all the countries and establishments that are fond of cryptocurrencies- that would still be a tiny percentage of all. It may take decades for things to change and, keep in mind, that there’s also a highly motivated army of haters, who will serve as obstacles in this course.

I don't think things would change a lot only with physical money being removed and a digital currency system being implemented. The actual problem lies in the centralized nature of the traditional money where every central bank controls the money in their own country, Now to be very honest, an Economy without a central authority can be a double-edged sword to some extent. Firstly obviously, these governments won't be able to eat up our money in form of inflation and useless spending but at the same time it carries a threat that some large whales could create cartels in the economy and might act against the interest of retail consumers and we won't even have a central power to complain this thing. So it's really hard to imagine such a concept.

The trend towards the global economy is going digital, when talking about the "New World Order" I think it is something delicate and that it encompasses "Everything". Of course, the "economic" is a fundamental part for the domination of the masses.

Since 2009, innovation to a technology and economy was born, I think it was one of the things that the Elite let slip, of course that everything that implies leaving a "System" controlled by governments and banks represents being the natural enemy, in this The system is not convenient for people to achieve Financial Freedom, governments and banks are fascinated by "debt", in fact, they live on that, that is why control has gradually gone away, and there will come a time when they will not be able to fight against it, some countries are already adopting BTC, banks too, JP Morgan is offering to interact with BTC even though they don't like it, but they understand that the trend is going in that direction.

Yeah it is true that the constant technological advancement forces the world to change and adapt and just like physically money came to replace gold, there will be a point where the world will no longer use physical money and instead move towards fully digital and in fact we are already seeing it with credit cards paypal and other payment systems, but the problem that we are facing right now is the integrity of the money that is in our bank and the integrity of how government deal with it, moving a way from fiat where they can only print a certain amount of it to digital where they are able to manipulate it as they want, that is where cryptocurrency and blockchain should take place.

If we look at it from two different perspectives, then in fact the existence of Bitcoin does not threaten conventional money. Because the creation of Bitcoin has proven to be a synchronization of technology in which there is a type of digital currency. This is not much different from a country that creates money when civilization uses gold as a transaction tool.

However, this existence was used as a boomerang and seemed to be a threat, until in the end the government was first worried about the issue and responded to it with the opposite reaction. Take a look at our thinking, actually, from an economic point of view, we don't mind this, and it's still safe with either fiat or Bitcoin and other cryptocurrencies.

And the point is, if conventional money is removed and replaced with digital money, what about the continuation of people outside who still use paper money as a transaction tool? should we force them? no
that's why the freedom of ownership here is the leader, we can't arbitrarily topple fiat money while the risks behind it don't make people even dislike crypto.

We don't need to impose threats on others, just show them that besides the paper money they hold and use every day, there are far better alternatives. Then gradually they will be moved and realize it themselves.

Why do people keep thinking that we are possessing a serious threat to financial world? I mean the existing financial world could very well continue without trouble for centuries if the only opponent is crypto.

Obviously there is a situation where super wealthy people are living life where they do not spend 1/10th of their money for anything, which means that we are talking about a world where rich have minimum 100x times more than what they need, most of them even more, and the humans are starving at the same time in the same world.

This can't continue forever and it will eventually change, nobody says bring in communism but at least lets save the people who are starving to death right? That is not too much to ask? You can't just say "let them starve to death" in any reason at all. Same goes for health, nobody should die because they couldn't pay for hospital, those things just do not make ANY sense at all. However none of these will change just because we have crypto, that is totally irrelevant.

I don't think I can fully agree with you here.  I do not believe that it is a "serious threat to the existence of conventional finance" at all. There will be people who will point out "DeFi", however that is mostly a joke and a scam at this point in time.  The financial industry overall is embracing this new technology and integrating it within their financial products, divisions, etc.

I am also not sure that digital cryptocurrency will replace the dollar, but I suppose we will see.

The New World Order wherein the world will be ruled by a single government only wherein a single currency is expected to be used is still just a theory. Although the current pandemic seems to make sense with regards to this plan whereas a certain country is already silently taking over the world but still, involvement of cryptocurrency is far from being possible with this plan. There are a lot of consideration that is needed to be seen first before we can jump into conclusion that we will one day experience having a single government and a single cryptocurrency.

Exactly.
There must be a change and it should be now.
We don't want anyone handing us over paper money, metal coins, or even plastic cards that had been passed from one person to another.
That's a culprit of virus and we can avoid that if we can transact with just the QR code or other options.
If there is a good time to do it, it is now. Financial establishments will be forced to do the same even if they don't want to.
Change is happening but the question is how fast will it be?

AFAIK NWO needs not only one currency but also a complete control over it (NWO is a totalitarian regime). Thus, POW crypto such as Bitcoin won't be suitable for them. Perhaps they can use a centralized token like USDT.

In reality, they won't be able to unify world currencies, because they need to at least unify US, EU, China, and Russia, which is more of a fantasy than a rational thought experiment.

There are plenty of power backup solutions on the market already, not to mention places like data storage facilities provide uninterrupted power supply as do telecommunications facilities.

Companies such as Goal Zero offer power capture (solar panels) and battery storage for end users to be powered up on the go in all situations from hiking and camping through out in the field data collection and the like, so it's a little bit of a stretch to suggest a global power failure is going to occur much less a collapse of the crypto sphere with it.

I think covid-19 changed certain things,yes. But IMO too what I think is that this is the highest it can do which is getting countries and banks to start developing their own digital currency and that is the new wave now. This is good for the financial services as alternative been provided but fiat won't disappear as we think. It is traditional for all countries to run on fiat because of certain ways of minor transactions. So fiat can handle more traditional services while CBDC can best be appreciated in the digital marketing and exchanges.

I don't feel in the short term that will be the case at all.  With the price of bitcoin on the rise (some say to one million dollars per 1.0 BTC) I believe bitcoin will shift away from being used for Pizza, coffee or tipping online and shift into the commercial sector where it will be used for shifting large amounts of fiat from one platform (bank, merchant, employer etc) to another securely.

Alt coins with non-existent transaction fees (even Lightning network) will in time replace fiat for day to day purchases.

Do you think fiat money can be erased and vice versa, and how to exchange digital currency / cryoto if that happens, think logically, fantasize is not good.

So the question for the OP, so far crypto/digital currency, has it ever had its own value like fiat money, yes or no, isn't crypto exchange rates adjusted to fiat currencies, such as: dollars etc, in each country.
• Isn't crypto/digital currency, only used by certain people, grandparents, young children, do they already know digital money and have you ever given them digital money, haven't you given them fiat money all this time.
• who created cryptocurrencies like Bitcoin, Ethereum, etc., did the government ever create them, as far as I know crypto was created by: individuals or companies.
And what about other countries that are against crypto.

Think logically, don't like to fantasize, it never happens, even if there is a superpower that makes money rules abolished and replaced with digital money, I'm sure there will be a great war in this world, but it won't happen.

Yes, actually i guess many people are anticipating it already, the world without any fiat, the world that digital money will replace the traditional financial system and now that we see the development of technology, the modernization and globalization, I guess that thing will happen. Not soon though, it will take a long time, since even now there are still many places without internet, which make it impossible for digital money to dominate the world. However, cryptocurrency or the digital money will have a lot of advantages, and disadvantages too, but since the world always changes, so it's something inevitable.

I doubt true cryptocurrency as we know it will only exist in digital form.   When that time comes, you can print your crypto keys on a physical paper for example and still use that like we use physical money today. So, true crypto would solve the problems that results from the elimination of physical money. Besides, there are other physical things that can be used if currencies go fully virtual/digital.
You need to have different options so we can have physical money to use when a global tyrant tightens control on money

the transition to the use of currency will definitely occur because life is dynamic, technology is growing, but this progress does not necessarily reach all human beings in this world, such as countries that are not fully supported by internet facilities, this is very difficult for them.

Whether the government wants it or not, they need to follow the new era and change many things, including transforming their fiat money into digital money. Besides that, the government can not depend on the raw material from the paper because that is limited sources that someday will go.

For the government, the presence of cryptocurrency is a threat because they can not control the circulation of money that occurs. But for people, that will be a chance to making money and convert it into their fiat money and that can be their next new source of income.

It is not strange because the world is growing to go to the future, a better future. And the better future will not happen if all things inside the world are not changing. Maybe there will be a big change in the next years or 5 years later.

I don't know about new world order but I don't think that if it ever happens, we will ever live to see the day because afaik, NWO meant a total reset or start back to square one and it's going to be a difficult one because each generation is much weaker and dumber than the previous one. Also, I don't think that in an NWO scenario, we will see a value out of cryptocurrency, probably what we're going to see is more focus on practical stuff like food, water, shelter and weapons.