Topic: In the future, will fiat currencies be necessary in the world? - page 12. (Read 35815 times)
December 09, 2018, 03:29:43 AM
The currency itself is not necessary because it requires a high maintenance cost and also requires a lot of work to do and carry the notes. I believe that in the future we will have a better option, something similar to the credit and debit cards we use today.
December 08, 2018, 07:29:03 PM
now you buy food, drinks, daily necessities and pay bills using fiat money and fiat currency is a measure of a country's economic strength. so, fiat currency is necessary, for our daily lives and our respective countries...
December 08, 2018, 05:22:25 PM
in the future, will there really be a need for fiat currency? Government can collect taxes in crypto, determine how to allocate it, and spend it in crypto. Ppl can receive salaries and do all commerce using crypto. Loans can be done in crypto. Fundraising can be in crypto. Sure, problems have to be worked out in terms of scalability, does it have to be completely decentralized, etc, the value has to become more stable. But theoretically, is there any reason to have fiat in the future?
It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.
From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.
It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.
From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.
Of course it is necessary. No matter how our technology have grown, we couldn't still deny the fact that fiat is still the main currency that we are using. It is important that we'll have it so we'll know how to handle our earnings. No digital currency could replace it because it is one of our necesities.
December 08, 2018, 03:56:00 PM
I dont think Fiat currency will easily be
Eradicated in this world because;
1. Not everyone could be computer literate to handle cryptocurrency.
2. Considering children and the aged ones who may not find it easy using any other currency.
3. Considering less developed areas where there is no I ternet or with very low technological exposure.
Fiat will still be needed let's not decieve ourselves.
Crypto currency is very good and of great advantage but not for everyone.
Eradicated in this world because;
1. Not everyone could be computer literate to handle cryptocurrency.
2. Considering children and the aged ones who may not find it easy using any other currency.
3. Considering less developed areas where there is no I ternet or with very low technological exposure.
Fiat will still be needed let's not decieve ourselves.
Crypto currency is very good and of great advantage but not for everyone.
December 08, 2018, 02:19:27 AM
not that easy in considering the decision, if indeed the government agrees with bitcoin, they will without thinking about using bitcoin as their currency, but until now, governments around the world have not agreed that bitcoin is a universal currency
now USD is still the main currency, and may be maintained by global elites
now USD is still the main currency, and may be maintained by global elites
December 08, 2018, 01:56:41 AM
For government, fiat currency needed to boost their economy. By pumping money supply in market, economic will run more faster because economic growth based on consumption. Beside that, Fiat currency still needed to measure the economic and creating growth
December 07, 2018, 06:39:00 PM
I see a parallel between Crypto and fiat: while in Crypto all altcoins are influenced by Bitcoin, the same happens with fiat - only USD plays this role.
Other than that, fiat is indeed necessary. It is a tool for the government to control society, I doubt that it will ever change.
Other than that, fiat is indeed necessary. It is a tool for the government to control society, I doubt that it will ever change.
December 07, 2018, 05:03:57 PM
As long as we use all money we will need it and when time comes for everything to be changed then we could expect to start use digital money. Bad thing is that hacker will have smiles on the face in that case cuz we all digital money (crypto for example) can be hacked and stolen.
December 07, 2018, 04:24:26 AM
In my opinion. until any time the fiat currency will be needed and used throughout the world. technological advances in the financial sector will not affect the existence of fiat currencies. Digital currency is used to facilitate everyone in choosing transaction tools so that our work will be easier. and fiat currency is used for people who do not have a digital currency.
I think the answer is to ask yourself, are you still using fiat to buy something? I think most or even all bitcoin users must still rely on fiat to pay for their daily needs, you are right that technological developments will not change anything on fiat as the main currency December 06, 2018, 07:52:05 PM
Yes very necessary because every country has its own fiat that are used to live life to the fullest. And besides traditional fiat are very convenient to use anywhere we want to spend or invest it and no other gadgets that need to acquired to like internet, cellphone or etc. So fiat is very important and necessary in the world to make people live easily.
Fiat currency is used all over the globe because of its traditional and low risk transfer of funds, in investing or other profitable and economical means, It is really important in the world market to have this currency unlike Crypto currency where money are electronically handled by a system where the governments have no power to control it.
December 06, 2018, 03:32:21 PM
We are using fiat currencies as a medium of exchange nowadays, that is why it is very necessary as of now. However, as we advance in terms of technology, I think it will be replaced in the future. And, there's no other thing to replace it but crypto currency.
December 06, 2018, 02:42:34 PM
Fiat currency is every necessary at this point, the cryptocurrency is yet to be adopted by every one and the government and in other business transactions,ones this is met the cryptocurrency can become used without the fiat.
December 06, 2018, 02:20:41 PM
In my opinion. until any time the fiat currency will be needed and used throughout the world. technological advances in the financial sector will not affect the existence of fiat currencies. Digital currency is used to facilitate everyone in choosing transaction tools so that our work will be easier. and fiat currency is used for people who do not have a digital currency.
I think the answer is to ask yourself, are you still using fiat to buy something? I think most or even all bitcoin users must still rely on fiat to pay for their daily needs, you are right that technological developments will not change anything on fiat as the main currencyI like your answer. Really, look around - ALL fellows, who are the crypto traders and investors are using traditional money (cash and credit cards) actively. We cannot live without fiat ever.
December 06, 2018, 01:10:54 PM
People need some sort of trustworthy trading instrument to exchange products and services. If fiat money is a trustworthy instrument of value, it is good enough. It does not have to be based in gold or another rare commodity, it needs to be supported by the government and public agreement.
December 06, 2018, 12:59:44 PM
I think that in the future, fiat money will disappear and become a relic of the past. But until that time, crypto currencies still need to go a long way, saturated with various events. Of course, a crypto currency can fully replace fiat money and be a more advanced form of payment. But the world for this will have to greatly improved. Everyone should have access to electricity and a computer. And today it is a big problem, so many countries still live below the poverty line. Residents of these countries continue to die from hunger and disease to this day.
December 06, 2018, 11:45:09 AM
Our economic system currently runs off debt. Could we have a system based around bitcoin and no debt? Yes we could and prices of cars, homes, and land would drop a lot. Debt raises prices because it gives people access to easy purchasing power. The debt system keeps us all slaves so a bitcoin based economy would be better assuming the scaling issue could be solved.
December 06, 2018, 11:10:37 AM
In my opinion. until any time the fiat currency will be needed and used throughout the world. technological advances in the financial sector will not affect the existence of fiat currencies. Digital currency is used to facilitate everyone in choosing transaction tools so that our work will be easier. and fiat currency is used for people who do not have a digital currency.
Digital currency has no relevance with the fiat currency for it has different functions and roles that will be intended to. Decentralized digital currency maybe useful especiallly in terms of payment where it offers P2p transactions that could minimize transaction fees. However it still need digital equipment and internet so there are disadvantages of using it also. For now digital crypto currency is not yet user friendly and this.might systrm might put to ignore. 
December 06, 2018, 11:04:49 AM
maybe at this time but not yet in the future all possibilities can occur along with the times and crypto currency technology will be needed by the state in its economic development
even though the technological development of the era does not mean that fiat currencies are not needed even though many countries have adopted crypto currencies, because until now fiat currencies are still in use December 06, 2018, 09:25:08 AM
yes, right now we are needed it, mostly currency circulation in the market or any type of investment propose in the market is control by fiat money.
December 06, 2018, 05:48:42 AM
The fiat currency is very good for the cryptocurrency market, but now the government will stop listing its own legal currency, and only if the cryptocurrency market expands its influence, the government will consider issuing legal tender.
fiat always used to cryptocurrency market.without fiat currency no one buy cryptocurrency.this is first step for investor and traders to start their invesment. Jump to: