Topic: Fiat Currency Always Fails - page 2. (Read 2101 times)
Fiat currency link bitcoin and altcoin will be more success because it give more effect by investor to get profit with their bitcoin or altcoin asset investment, by using fiat as currency investor have stronger to hold and keep their asset will increase at the future time.
See:
There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
Fiat currency fails because central banks always flooding supply in market. Their reason always to sustain economic growth. It will increasing inflation and people asset reduced the value.
See:
There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
With the advent of cryptocurrency, its supporters very often declare that the cryptocurrency will replace the national money of the states. This statement is completely erroneous, since it contradicts the basic laws of economic development. The main reason why the cryptocurrency is not able to replace fiat with itself is that fiat interacts directly with the economy of the state, and the cryptocurrency can in no way be connected with the economy of any state. Therefore, the cryptocurrency can go in any state only simultaneously with the national money of this state. There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.
It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency.Fiat currency has been there for more than a century and still it is working. You cannot call it a failure so easily and it will not be completely eliminated. Digital currencies are better and good but not everyone is at ease using them. Also you need technology to be able to use them unlike fiat which even an illiterate person can use easily.
If it has failed before, it was for a reason and a particular period of time. At the moment, the fiat is gained some grounds with the help of the USDT which has helped to maintain/regulate the bitcoin price and overall, the cryptocurrency markets.
Why Fiat? As I can see cryptocurrencies are already failed most in the history too many scammers and hackers trying to breach the system or exchanges, fiat can trace I guess and hacking also are involved here.
I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.
It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency.
To say that the currency is always losing, it seems a bit too, because cryptocurrency can not survive without paper money.
I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.
It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency.Fiat currency has been there for more than a century and still it is working. You cannot call it a failure so easily and it will not be completely eliminated. Digital currencies are better and good but not everyone is at ease using them. Also you need technology to be able to use them unlike fiat which even an illiterate person can use easily.
I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.
It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency.Fiat currency has been there for more than a century and still it is working. You cannot call it a failure so easily and it will not be completely eliminated. Digital currencies are better and good but not everyone is at ease using them. Also you need technology to be able to use them unlike fiat which even an illiterate person can use easily.
I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.
It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency. 
Yeah, cuz of inflation! Its easy , u know it.
Guys who can abuse paper money creating are doing it erryday and you are working for this shit erryday
More money-less value for them
Guys who can abuse paper money creating are doing it erryday and you are working for this shit erryday
More money-less value for them
I'm not quite sure that we should judge fiat like that because thousands years of our history are closely tied to it.
I believe that this concern of failure of the fiat currency is a thing the government is always been monitoring for ages. I don't believe that these dollars doesn't have some basis. You can't just create fiat money without something backing it up or else certainly the economy would fall helpless and will crumble. How would anybody trust the value of paper without the assurance that the government being the owner doesn't have some back up value for it. And how can such a government stabilize the economy by printing a useless paper only? So that I believe that something is backing up fiat and it is not just a paper money. It is similar to how cryptocurrency works because cryptocurrency is backed by fiat in the real world although others say they have some other things to back it up like gold, oil, etc..
The way I see it, there are 2 separate issues.
1. Is fiat money a good system?
2. Is fiat money good for me?
We're mainly concerned with no. 1.
1. Is fiat money a good system?
2. Is fiat money good for me?
We're mainly concerned with no. 1.
Fiat money or paper money always creating time bomb and its economic crisis. Paper money always printed and the reason is economic growth but its increasing inflation. Paper money printed from thin air without proper back up and only trust from government
However, you should agree that people are not yet ready to change all of the paper money they have in the cryptocurrencies. The mankind will use fiat for centuries more, even despite the inflation.
For me I don't think people have factored in the problem with not having enough money to meet the demands of the population. The real problem is not what backs the money but who controls the quantity. Also back in the late 1700s gold was fiat. See currency act of 1764 and Stamp Act of 1765. The American Colonies had no gold to begin with and the British banksters wrecked the colonial economy by forcing them to pay taxes in gold.
I like to save money in fiat currencies. When I got to know what cryptocurrencies will offer me, I tried to weigh the merits and demerits of all and I have concluded to save in fiat always.
Fiat money or paper money always creating time bomb and its economic crisis. Paper money always printed and the reason is economic growth but its increasing inflation. Paper money printed from thin air without proper back up and only trust from government
However, you should agree that people are not yet ready to change all of the paper money they have in the cryptocurrencies. The mankind will use fiat for centuries more, even despite the inflation.
See:
There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
AS of this time since the hi-technology will strongly operated start year 2000 until now the status of fiat currency is almost backup or for short term uses because the main uses now is in digital system process like deposit in big amount through digital process how much more if bitcoin is going to top of currency much more quickly and convenient for any body.
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