The existence of legal tender has a long history!
Its existence proves its rationality!
The existence of cryptocurrency proves its rationality, and in the future cryptocurrency may replace some of the functions of legal tender!
Topic: In the future, will fiat currencies be necessary in the world? - page 22. (Read 35815 times)
October 08, 2018, 08:06:15 AM
October 08, 2018, 07:03:29 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.
October 08, 2018, 06:43:57 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.
Yes fiat is necessary because everything is possible with fiat. Anything you need can by buy with fiat. Also fiat play an important role in economy plus bitcoin also required fiat in order to buy it. 
October 08, 2018, 12:44:52 AM
In my opinion according to the present situation fiat is important because not every one can use crypto and it is not easy for every one poor peoples are not educated they have no resources they have less amount of money so they can use only fiat for their lives and other people can get benefit from it.
October 07, 2018, 10:34:05 PM
I think Fiat currencies is what we really need because It helps to run this world. Othewise, if we use digital currency as an official currency, the government can not control digital currency, I think it could harm to the economy system in someway
October 07, 2018, 08:34:01 PM
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
October 07, 2018, 06:46:07 PM
Fiats are necessary as it has been the traditional currency for decades. Cryptocurrency is yet to get to where fiats has reach as all members of the economy uses it despite their level of understanding of digital know how.
October 07, 2018, 06:35:56 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.
Fiat currency is always necessary in this world even digital currencies are there. They have different uses and function. And before you can use crypto you need to transfer it first into fiat money. Fiat money is really important and it will not disappear just because of cryptocurrency. They have different reason why they are created.
October 07, 2018, 06:30:14 PM
Fiat is needed because it is a legitimate medium of exchange. Crypto does provide other benefits and seems more modern than fiat, but fiat plays an important role in life. In everyday life you still need fiat to meet your needs.
Well, however we can't say crypto is important than fiat. Without fiat, crypto also have no price, because basically fiat is the price benchmark. Crypto is only a support currency for making online transaction so easily, not to be more important than fiat. 
October 07, 2018, 06:24:32 PM
In my view that with fiat currency cryptocurrency has been replaced well, cryptocurrency includes all functions of fiat and even cryptocurrency has more benefits than fiat
October 07, 2018, 04:59:12 PM
Fiat is needed because it is a legitimate medium of exchange. Crypto does provide other benefits and seems more modern than fiat, but fiat plays an important role in life. In everyday life you still need fiat to meet your needs.
October 07, 2018, 03:47:07 PM
Well, i really like your assertion but the other side is that when can crypto be the only currency needed for survival. To me zi think currently, they can both coexist but it'll take a long time for crypto to really take over.
October 07, 2018, 01:20:55 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.
October 07, 2018, 01:13:47 PM
in my opinion, in the future cryptocurrency will definitely grow rapidly and many people will need it to transact. even though later the government has adopted and will get a tax from cryptocurrency, I think the fiat currency is still used by the public, especially the middle to lower class society. and in my opinion, cryptocurrency and fiat currencies will be equally used by people in the future. I can't imagine people who want to buy a candy or something very cheap using crypto. surely it will be easier to transact with fiat when buying and selling activities on a small scale. so I think cryptocurrency and fiat will run side by side later.
October 07, 2018, 10:15:53 AM
yes, of course. For me, the economy system need fiat currency to maintain the development this world. And the government need it to control economy world wide
October 07, 2018, 09:48:34 AM
Fiat is needed because fiat is a national currency and every country has it. I think fiat will last a long time to be used as a medium of exchange.
October 07, 2018, 08:52:57 AM
What do you think about regions without internet? What if your telefon is off and you don't have connection to internet,especially in other country? Crypto is really good, but our society isn't that advanced and some parts of the world remain in the past. Probably in 10 years something will change current situation, but at the moment total fiat replacement isn't possible. A lot of things should be regulated, new laws should be added and so on
October 07, 2018, 06:09:44 AM
In my opinion, cryptocurrency in some aspects is indeed better than fiat, but that does not mean that cryptocurrency can replace fiat. Cryptocurrency is similar to a currency but not a real currency, because to be a currency must meet several main criteria. Cryptocurrency is only an exchanger, the rest we still have to use legal fiat in the country where we live to make a sale and purchase transaction. All types of crypto currencies will not really be real currencies, but can be a strong alternative asset.
October 06, 2018, 06:58:10 AM
The more regulations are imposed, the less decentralized the system becomes.
If you avoid dealing with centralized services you won't have to suffer from anything, but people as convenience hungry as they are, will always rely on centralized services to take care of storage.You shouldn't forget that most people aren't capable of managing their own wealth, which is why they will always rely on banks. Benefit of that is also that their wealth is insured up to a certain amount in case the bank implodes.
What insurance is there with crypto if you mess up? Losing funds in this case means losing funds for ever. For that reason I do understand why people will always keep using fiat and banks.
And yes people can receive salaries in crypto, but what if the value falls and the receiver starts to suffer? They can even sue their employer if the value falls down there minimum wage.
If the employer is clear with its terms for payments in Bitcoin and the employee agrees with all these terms, there is no one he/she can sue.One should note that, Crypto Currency is not yet totally accepted globally, the need for FIAT is still there, we have limited Crypto Currency Digital transaction in the market, a lot of Government and Business Financial Institution is studying the entry of Crypto Digital Transaction into the main stream Market,this is the issue on Regulation, so, the use of FIAT is very much important not unless the total acceptance on the use of Crypto Digital Transaction into the market.
October 06, 2018, 06:44:13 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.
If fiat currency isn’t necessary then why are you still using it cause I’m very sure that you still make use of your country’s currency. Fiat is necessary and we need it more than we need cryptocurrency. Cryptocurrency doesn’t have physical and it can never have cause it wasn’t meant to be used physically, just to be used digitally. So we still need fiat currency and it’s very important. 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.
Jump to: