Fiat currency value and Economy debt - page 2.

GideonGono

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Quote from: riso2015 on November 03, 2019, 03:37:05 AM

Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear. If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

It will never because fiat was need of the person who can't afford technologies so there are some country who suffer from poverty need to use fiat to transact from their needs. I think when the future generation comes, the fiat will never disappeared because it was hard from some country who do not favor from crypto.

abhiseshakana

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Quote from: tambok on November 09, 2019, 05:41:57 AM

Once we adopted the crypto world, then Fiat currenty will eventually crashed, still it will come in few more years or more decades. Statistics shows that only 1% of the total population are into cryptocurrency so we still have more years to enjoy the fiat before it will be totally worthless. For now, we should support crypto all throughout so that our government can see its advantage and will eventually adopt and legalize it.

Usually, crypto is fully adopted by a country when its currency loses value because there is no alternative but to adopt crypto, as is the case with Venezuela.

I am a crypto user but I doubt that the world economic system will be replaced by crypto because there are many complete paperwork transactions that cannot be accommodated by the blockchain. Besides the biggest obstacle is the majority of a country's government considers the adoption of crypto is to open wide potential problems in a country.

I truly hope that the government will find a win-win solution between openness to crypto and the interests of maintaining economic stability, domestic politics. Because all agree that financial technology is inevitable and will be a loss for the government if refuse the invitation.

Hippocrypto

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Quote from: tambok on November 09, 2019, 05:41:57 AM

Quote from: Silberman on November 06, 2019, 01:27:42 PM

Quote from: riso2015 on November 03, 2019, 03:37:05 AM

Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear. If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

We know that fiat will eventually crash since it is a trust game that no currency has ever won, but it is difficult to believe that all fiat currencies of the world will crash at the same time and even if they do they will not disappear, governments will not give up the huge power fiat currencies give them, I am sure that if things get that bad cryptocurrencies will be banned all over the world and people will keep using fiat, but the amount of persons using cryptocurrencies will be many times higher than what we have now.

Once we adopted the crypto world, then Fiat currenty will eventually crashed, still it will come in few more years or more decades. Statistics shows that only 1% of the total population are into cryptocurrency so we still have more years to enjoy the fiat before it will be totally worthless. For now, we should support crypto all throughout so that our government can see its advantage and will eventually adopt and legalize it.

Not at all, we can't expect fiat to crash after adoption dominates the entire economy, if government won't allow it. There's still cash spending because most people still used the traditional paper money, and it cannot be removed from their daily spending needs. It will take a lot of times before cashless society will be associated with cryptocurrency, which soon solve the country's problem particular with financial matters.

jrrsparkles

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OP you need to understand that when value of something crashed then it will be hard for it to recover to the original price,so your claim of fiat will gain more purchasing power from now doesn't make sense.When you said bitcoin price will go like 100K means people started using it so what could be the reason to leave that and then come back to old crashed system if it happens?

Memminger

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Quote from: tambok on November 09, 2019, 05:41:57 AM

Quote from: Silberman on November 06, 2019, 01:27:42 PM

Quote from: riso2015 on November 03, 2019, 03:37:05 AM

Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear. If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

We know that fiat will eventually crash since it is a trust game that no currency has ever won, but it is difficult to believe that all fiat currencies of the world will crash at the same time and even if they do they will not disappear, governments will not give up the huge power fiat currencies give them, I am sure that if things get that bad cryptocurrencies will be banned all over the world and people will keep using fiat, but the amount of persons using cryptocurrencies will be many times higher than what we have now.

Once we adopted the crypto world, then Fiat currenty will eventually crashed, still it will come in few more years or more decades. Statistics shows that only 1% of the total population are into cryptocurrency so we still have more years to enjoy the fiat before it will be totally worthless. For now, we should support crypto all throughout so that our government can see its advantage and will eventually adopt and legalize it.

I seriously think that fiat would still be present along with the cryptocurrencies since it would stand for its respective uses since it would come down to a matter of convenience. If we are talking about our day to day lives where we would come to a coffee shop and buy a drink then it would be better to use cash than Bitcoin which would take several minutes to process in addition to the transaction fees that needs to be paid. I think Bitcoin or cryptocurrencies are better suited to be used in conducting international transactions which would immensely cut the transaction time and would offer more convenience.

tambok

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Quote from: Silberman on November 06, 2019, 01:27:42 PM

Quote from: riso2015 on November 03, 2019, 03:37:05 AM

Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear. If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

We know that fiat will eventually crash since it is a trust game that no currency has ever won, but it is difficult to believe that all fiat currencies of the world will crash at the same time and even if they do they will not disappear, governments will not give up the huge power fiat currencies give them, I am sure that if things get that bad cryptocurrencies will be banned all over the world and people will keep using fiat, but the amount of persons using cryptocurrencies will be many times higher than what we have now.

Once we adopted the crypto world, then Fiat currenty will eventually crashed, still it will come in few more years or more decades. Statistics shows that only 1% of the total population are into cryptocurrency so we still have more years to enjoy the fiat before it will be totally worthless. For now, we should support crypto all throughout so that our government can see its advantage and will eventually adopt and legalize it.

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Quote from: riso2015 on November 03, 2019, 03:37:05 AM

Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear. If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

We know that fiat will eventually crash since it is a trust game that no currency has ever won, but it is difficult to believe that all fiat currencies of the world will crash at the same time and even if they do they will not disappear, governments will not give up the huge power fiat currencies give them, I am sure that if things get that bad cryptocurrencies will be banned all over the world and people will keep using fiat, but the amount of persons using cryptocurrencies will be many times higher than what we have now.

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Quote from: riso2015 on November 03, 2019, 03:37:05 AM

Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear.

Fiat is essential for one's countries economics to function correctly. Tax is needed for a country to develop. And there's no way you can use bitcoin in a daily transaction lol. Using bitcoin for micro-transaction is just a waste of money because of the fee, and not all people have a cellphone or internet. Fiat is needed for everyday use.

Quote from: riso2015 on November 03, 2019, 03:37:05 AM

If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

Bitcoin is just like any other currency. Don't treat it like an ultimate currency to pay for your countries debt. lol

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Fiat money will eventually crash and become worthless, If people will use Bitcoin to transact in their daily lives then I believe fiat money will soon disappear. If later all countries would adopt Bitcoin and they would repay state debt using Bitcoin, I think it could happen in the future then fiat money will be worthless.

tenakha

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Quote from: Polo7 on October 24, 2019, 03:07:12 PM

I think after economy boom and the end of huge debt wich will be never repayed there will be Economy slow down and fiat currency Will have huge value!!
During the boom assets Prices going up... So More money Will Go the asset owners Once boom is over the most of the money Will be hands of the rich... Everybody Will be debted... Simply everybody is looking for money but simply there Will be significant smaller ammount of the money.

So in my opinion Bitcoin Can Go up like 100k to 500k. Even 1 milj.... But at the end it will crash.
And after crash the fiat currency Will have biggest purache power. Crypto Will be zero.

The point is that debt and quantive easing will Give at the End More value to fiat currency!

So those who talking about fiat currency devaluatiion or so You are all wrong.

What if the BTC itself will be used as payment until that time? Now replace the fiat money with BTC and consider the new scenario.

Also, when the BTC reaches 500k, it will reach 9,000,000,000,000 USD, which is a huge number. The following numbers are the amount of physical money available in the world, now calculate yourself.

Quote

There is approximately $36.8 trillion worth of physical money around the world.

Source: https://www.worldatlas.com/articles/how-much-money-is-there-in-the-world.html

huu78

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Does bitcoin go up properly? Crash due to many more sales requests in the purchase appeal? Bitcoin crashes could not significantly make the value of a moving fiat currency.
And Crypto will not be 0 if there is still a purchase request and it is unlikely to happen. I am not good at economic problems but everyone can argue.

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Quote from: Polo7 on October 30, 2019, 04:27:14 PM

Fiat Can't fall its simply just mean for Exchange value between People.

The End loser is economy... And the People

Fiat can fall, and it can fall in two different ways, it can be a slow process in which fiat begins to lose its value, this is called inflation, and your fiat buys less and less products and services as time passes on, the second way in which it can fall is that it fails completely and people lose confidence in it to the point they do not accept it anymore, this happened in Zimbabwe and even the government recognized that they could not print their own currency anymore, they are trying to introduce their currency once again but if they do what they did in the past then the same will happen.

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Quote from: Polo7 on October 24, 2019, 03:07:12 PM

I think after economy boom and the end of huge debt wich will be never repayed there will be Economy slow down and fiat currency Will have huge value!!
During the boom assets Prices going up... So More money Will Go the asset owners Once boom is over the most of the money Will be hands of the rich... Everybody Will be debted... Simply everybody is looking for money but simply there Will be significant smaller ammount of the money.

So in my opinion Bitcoin Can Go up like 100k to 500k. Even 1 milj.... But at the end it will crash.
And after crash the fiat currency Will have biggest purache power. Crypto Will be zero.

The point is that debt and quantive easing will Give at the End More value to fiat currency!

So those who talking about fiat currency devaluatiion or so You are all wrong.

I think you think too far. don't think too often about things that haven't happened yet and far from reality. currently a bitcoin price of $ 9k is possible when bullrun bitcoin will reach $ 20k - $ 30k. You say $ 100k - $ 500 I think that's too high.
and if a country has a lot of debt it can cause a country to experience inflation and make fiat currencies worthless.

Polo7

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Fiat Can't fall its simply just mean for Exchange value between People.

The End loser is economy... And the People

the rise

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High demand because the factors revealed will increase the value of the currency, it is true for fiat. But there is nothing related to permanent policy in bitcoin so it's very different. bitcoin always evaluates prices so that they will never be zero.
Currency devaluation does not affect anything, but it is useful to rearrange the influence of the central economy and focus on GDP, the rest depends on economic policy and governance. this explanation is suitable for macroeconomics. and you also have to look at the micro side related to investment because not everything will go parallel and only focus on debt.

justdimin

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Well, OP didn't mention anything about an economics degree but looking at his prediction I can easily tell you that he didn't studied economics at all. I in fact guarantee that polo7 hasn't seen a single class of economics in his life or even if he had something as basic as econ101 type of class he didn't really pass with a good grade. Hell I go even further by saying he never had a proper math grade neither.

ALL the things he said are wrong, like not even a single true part of it, not even partially right part of any of them, all of them 100% wrong, not even a %0.1 right part in %0.1 of it. Its good tho, the people like polo7 who sell means the more money we get for cheap and the cheaper we get the richer we get when price goes up, I see this as an absolute win.

SummerBliss

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Quote from: Polo7 on October 24, 2019, 03:07:12 PM

I think after economy boom and the end of huge debt wich will be never repayed there will be Economy slow down and fiat currency Will have huge value!!
During the boom assets Prices going up... So More money Will Go the asset owners Once boom is over the most of the money Will be hands of the rich... Everybody Will be debted... Simply everybody is looking for money but simply there Will be significant smaller ammount of the money.

So in my opinion Bitcoin Can Go up like 100k to 500k. Even 1 milj.... But at the end it will crash.
And after crash the fiat currency Will have biggest purache power. Crypto Will be zero.

The point is that debt and quantive easing will Give at the End More value to fiat currency!
So those who talking about fiat currency devaluatiion or so You are all wrong.

You started with logical thinking but ended up messing everything.
During boom, more money is generated in the economy, correct! But all this money doesn't go in the hand of asset owners. Rather it is distributed among all factors of production namely capital, land, labour and entrepreneurship. Land owners get rent, Entrepreneurs get profits, salary workers get salary/wages and capital providers get interest. So money is not just tap in the hands of rich, rather it is distributed among everyone. And when bear market returns, everyone face recession, even rich as their assets' value depreciate too.

mersal

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Quote from: Polo7 on October 24, 2019, 03:07:12 PM

I think after economy boom and the end of huge debt wich will be never repayed there will be Economy slow down and fiat currency Will have huge value!!
During the boom assets Prices going up... So More money Will Go the asset owners Once boom is over the most of the money Will be hands of the rich... Everybody Will be debted... Simply everybody is looking for money but simply there Will be significant smaller ammount of the money.

So in my opinion Bitcoin Can Go up like 100k to 500k. Even 1 milj.... But at the end it will crash.
And after crash the fiat currency Will have biggest purache power. Crypto Will be zero.

The point is that debt and quantive easing will Give at the End More value to fiat currency!

So those who talking about fiat currency devaluatiion or so You are all wrong.

If there is an economy slow down the ale of fiat will never go higher but it will go on the other side,we may get the better value for our native currency if we convert out USD based assets or the cryptos to local fiat.Crypto is not yet faced any economic crisis so no one can predict what will happen to the prices if there is any in the future but its wrong that fiat will have more value.

Silberman

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Quote from: dothebeats on October 29, 2019, 09:45:52 AM

Quote from: Polo7 on October 24, 2019, 03:07:12 PM

I think after economy boom and the end of huge debt wich will be never repayed there will be Economy slow down and fiat currency Will have huge value!!
During the boom assets Prices going up... So More money Will Go the asset owners Once boom is over the most of the money Will be hands of the rich... Everybody Will be debted... Simply everybody is looking for money but simply there Will be significant smaller ammount of the money.

So in my opinion Bitcoin Can Go up like 100k to 500k. Even 1 milj.... But at the end it will crash.
And after crash the fiat currency Will have biggest purache power. Crypto Will be zero.

The point is that debt and quantive easing will Give at the End More value to fiat currency!

So those who talking about fiat currency devaluatiion or so You are all wrong.

Fiat currencies are the failed financial tools that the Western world has introduced to this world. There's no paying that $200-T global debt and countries would just resort to violence and wars just so they wouldn't be able to cover up that debt. Quantitative easing also proved to be the most destructive financial technique introduced in the 21st centuries, oftentimes leading to economic collapses and recessions. The only thing that can save the world from such future crises is to overhaul the system, but then again we know this wouldn't happen knowing how most countries loved the control fiat currencies give them on their economy and on their citizens.

The elite has no reason to overhaul the system because they are the winners and when it crashes then they will try to put in place a system that benefits them even more than the one that we have right now, this is why bitcoin and cryptocurrencies in general are important, it gives to us the option to adopt their system or to adopt an independent system that they cannot control, and if you are in this forum then it is obvious the choice we will take when that time comes.

Doell

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it will not be real everyone will not be in debt mate ,the power of fiat will not drive people crazy and choose fiat because its hard to put in a your wallet Grin

,everyone wants to find convenience not looking big trouble everyone wants to be safe and bitcoin is the safest so bitcoin will not be zero ,world economy will not be in ruins that will make everyone debted

Topic: Fiat currency value and Economy debt - page 2. (Read 639 times)