I do believe that fiat currencies are necessary in the world because each fiat currency of every country has uniqueness and it represents the culture, tradition and history of a country.
We need the benefits not the history, people in several countries are living very bad life only because have no good source of earning but bitcoin is being a good source of earning for a lot of people all of us are getting income only because of crypto currency, according to me we need crypto currency the most because we can do everything with crypto currency that we are doing fiat, 
Topic: In the future, will fiat currencies be necessary in the world? - page 20. (Read 35815 times)
October 17, 2018, 02:14:30 PM
October 17, 2018, 10:10:48 AM
I do believe that fiat currencies are necessary in the world because each fiat currency of every country has uniqueness and it represents the culture, tradition and history of a country.
October 17, 2018, 10:10:07 AM
I don't think that world really needs fiat currencies. I would rather like to see currencies backed by gold again or backed by Bitcoin.
But if you ask me do we need some sort of physical currencies I would say yes.
But if you ask me do we need some sort of physical currencies I would say yes.
October 17, 2018, 09:56:59 AM
Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future
Yeah I agree on you mate, as in the future we still have fiat as the government will not allow them to be out of the control on their economy and we still have no real solutions on how to control the volatility of cryptocurrency if this will be our future currency. October 17, 2018, 09:01:52 AM
Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future
Yeah I agree on you mate, as in the future we still have fiat as the government will not allow them to be out of the control on their economy and we still have no real solutions on how to control the volatility of cryptocurrency if this will be our future currency. October 17, 2018, 08:02:00 AM
Even if the cryptocurrency are very popular, but we can not totally replace fiat currencies ,beccause cryptocurrency has limitations of places where it is to used where there is internet access , it can not ve used to places where there is no internet access ,so fiat is still can be used as medium of exchange.
Yeah you are right but I think that if the government accept cryptocurrency and legalize it they can control it and also 20se it for their transactions. In the future I think there would be no need for fiat currency. There will be only one currency in the world and that will be crypto currency and bitcoin will be the mainstream in the future in the globe. October 16, 2018, 04:39:18 AM
Fiat currencies is the widely used by everyone because it is easy and convenient. It is the first tool to exchange and buy goods to any establishments and it is surely necessary to us all. Hence bitcoin are popular nowadays but there are still limits of where it can go because not all people are tech savvy to use crypto currency as tool for payment. It may take a long while before crypto currency will be widely used to all and we are willing to wait for that moment to come.
October 16, 2018, 04:28:49 AM
Cryptocurrency transactions are very difficult to replace fiat in daily use. because cryptocurrencies in use needs internet online and electronic based. not all regions can reach this transaction. the assumption that crypto will go global in my opinion is totally wrong. Cryptocurrencies in my opinion are only alternative part of money use .
October 16, 2018, 04:13:29 AM
I think that there is still a need for Fiat money, because not all countries and people are adapted to cashless payments.
Ask a thousand of random people what they know about the cryptocurrencies. I bet, maybe 20 of them or even less will give you the right answer. Most of us still believe in fiat more than in the crypto.
October 13, 2018, 04:24:50 AM
I think that there is still a need for Fiat money, because not all countries and people are adapted to cashless payments.
Fiat money is needed whenever, because not every country has technological advances that support the use of digital currencies. The main requirement is the existence of a strong and stable internet network. Without it, the use of digital money is impossible. Then human resources must understand technology. If people are still stupid, they certainly cannot use digital money.We can never neglect fiat currency from our life as governments have made this good system for people which has its own benefits. On the other hand, modernism has great impact on humans life only if one start thinking to become a part of this great system.
October 13, 2018, 04:14:34 AM
It is a hard question, in one hand, I love crypto, and am against the traditional Fiat money System, as probably many of us in the community. But Fiat money has a great tradition, history, and so I do not think it would vanish any time soon.
October 13, 2018, 04:07:12 AM
Yes definitely. The Fiat are as important as the cryptocurrencies. If you take away the fiat, the world economy may destabilize. Every commodity is pegged to one government fiat currency or the other.
The traditional money will stay more important than the cryptocurrencies for many years. It will take much time to let the people understand that the digital money is something that is faster and more convenient.
Besides, cryptocurrency is not recognized every where and not by all the companies so there will still be a need to fiat and this traditional fiat will keep on running until there is a shift.
October 11, 2018, 03:25:19 PM
Future fiat is not necessary. However, at present it is really necessary, not everyone can access the internet. If you say it's not necessary then you are a visionary, do you think the world economy is as simple as a game so you can change it? Really want to eliminate fiat is a long time carefully prepared, not only to meet this, everyone's understanding must be enhanced. If the problem is as simple as you say it has come to fruition long time ago.
Well you are right to some extent, we need fiat because some people are not are of proper way of accessing digital currency, but on the other hand we must know now it is modern age where we need to groom, if we will not force people they will never learn, so I think we can live better life using digital currency, it is full of facilities and it is good to make good economical state as well. October 11, 2018, 08:03:54 AM
A country always need their own currency to measure their economy strenght. I am believe fiat currency still needed even cryptocurrency mass adoption become reality. Government need fiat because its more flexible use in their own area
Fiat currency is the need of governments and when all governments in the world legalize cryptocurrency there would be no need for fiat currency because all the transactions will be made in cryptocurrency. Fiat currency as well as paper currency will be replaced by crypto. People will feel ease while using their coins directly from their blockchian wallets. October 11, 2018, 02:30:56 AM
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.
That won’t work, there will always be fiat, unless maybe there happen to be a one government. There is no way to allocate any tax that will be paid by users of blockchain because you don’t know the location of the sender, neither do you know the location of the receiver. Bitcoin is meant to give people the control over their money which is what a few people seek, control over their money. But it all still ends in bank. 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.
October 10, 2018, 03:13:08 PM
National money of the states and world currencies are needed and they will not disappear anywhere. National money is tied to the economy of its state and interact with it. Cryptocurrency does not have and can not have any interaction with the economy of a particular state. Therefore, the cryptocurrency can not replace the usual currency. Cryptocurrency can go in the state only simultaneously with the national money.
October 10, 2018, 02:49:59 PM
Money is no longer transferred between hands, so at least cash money is not necessary. However, fiat money is still necessary as it is the fabric that binds together corporations, governments and individuals, without it there would be no link between them, and until we have a viable alternative it is necessary.
October 10, 2018, 11:56:43 AM
I can never deal with cryptocurrency and the world's daily businesses without having Fiat currency at my doorstep. I normally deal with fiat currencies in my purchases of goods.
October 10, 2018, 11:48:42 AM
I think that there is still a need for Fiat money, because not all countries and people are adapted to cashless payments.
Ask a thousand of random people what they know about the cryptocurrencies. I bet, maybe 20 of them or even less will give you the right answer. Most of us still believe in fiat more than in the crypto.
October 10, 2018, 05:32:41 AM
Of course, Fiat currencies are still necessary for society. Not all people are adapted for cashless payments. Many even abandon it or use it as necessary, when there are no other options.
Agree on you . not all people can use cryptos because not all have the knowledge and tools to use it .
Poor people are the ones that im referring to . they are the ones that is totally affected if ever the cash and fiats will be extinct on the future
But i believed that wont be happening anymore even if we say that cryptocurrencies will become a global hit . devs and inventors will rather import the crypto into a coin and paper like shape , so that others can also enjoy the benefit of using it .
Jump to: