Topic: In the future, will fiat currencies be necessary in the world? - page 23. (Read 35815 times)
October 06, 2018, 02:36:09 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.
October 06, 2018, 02:24:28 AM
of course fiat is necessary. because fiat is more or less safer currency comparing with other alternative currencies such as crypto currencies. they are mostly backed by governments and also easy way to make payments.
They will certainly support it, because fiat currency's a pride product which they created themselves.
Of course. Fiat becomes a physical payment instrument. although crypto currencies are growing rapidly, but don't forget that crypto currencies have value because there is fiat money. Fiat indirectly becomes a crypto value gauge.
Of course. Fiat becomes a physical payment instrument. although crypto currencies are growing rapidly, but don't forget that crypto currencies have value because there is fiat money.
It seems that you don't understand with what is called the market law. Remember, every commodity including the cryptocurrency becomes valuable because of the trustworthiness of its users. By buying, then demand will be created and at the same time will trigger the rising price of the crypto currency.
October 06, 2018, 01:45:09 AM
yes of course this fiat currency is very important for the world because without this fiat currency it seems that it will make a lot of people who already have old age who want to be reacted to be very difficult.
October 06, 2018, 01:12:42 AM
economic world now a days.. are becoming innovative, they became adaptable to what is new, useful, convenient and profitable, while there's still fiat all over the world slowly there learning and open to new challenges and new things to try to, such is bitcoin and they find more easy and secure and can be useful anywhere...soon those fiat become digita.l
October 05, 2018, 10:23:53 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's not even about taxation. States can not physically go to the calculations in the cryptocurrency, for this decentralized cryptocurrency has too many shortcomings and, above all, greater volatility. On the other hand, a part of the population of any country simply does not want to switch to the use of non-cash money, and even more so cryptocurrency, the use of which requires certain knowledge and practical skills.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 05, 2018, 08:55:08 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.
I doubt fiat money will go away, but I do think crypto is undoubtedly the next step in the natural evolution of money as we know it.
October 05, 2018, 08:44:52 PM
If we study more deeply, it turns out that all fiat currencies have no price not much different from money which is in children's toys. But what makes it different is because there's legal support from the government. So that the paper currency becomes has a price and can be accepted by its users.
October 05, 2018, 07:12:49 PM
In our present era it is necessary because the old banking system has not yet accepted it due to its innovative technology their having a hard time in accepting it because that would mean that they've admitted defeat and prove that digital currencies are better and our current commerce isn't prepared for online payment yet.
Yes, we all need traditional money. Unfortunately, the mankind will not survive without fiat. the banking system is very strong. However, the cryptos will be used as well.
October 05, 2018, 06:18:25 PM
Still, fiat currency is very essential in local areas because still, they don't believe in cashless transactions. Yes, fiat currency is the necessary requirement even though cryptocurrencies exist because cryptocurrency cannot be controlled by the government sectors.
People will always need the paper money as it is very simple to buy/sell things with it. To deal with the cryptocurrencies, you need the internet connection at least.
October 05, 2018, 06:13:42 PM
Fiat currencies is more convenient to use. Especially for the poor people who don't know what crypto is and don't have internet. The use of crypto's will be very unfair for them.
October 05, 2018, 05:59:21 PM
We can dream about crytpo words without money but we all understand that not pissible at least 100 years more)
It could take a long time before one could realize and trust the digital currencies to perform the exchanges of goods, product and services. As we all know that fiat money being printed or made is just a representation of the economies value of that certain country. So, if that country is rich then probably the value of their fiat money is high and it is the opposite when the economy of that country is poor. However, in specifications regards to how fiat money being made is through the materials itself being made. The higher the value of the money, the better materials being used that corresponds to the value of fiat money. October 05, 2018, 05:49:46 PM
I believe the fiat currencies will be of continuous need. This is because Bitcoin cannot penetrate remote locations or places that are not yet civilized enough.
October 04, 2018, 06:18:00 PM
In my own opinion, I do think the fiat currency can't be totally eradicated/submerged. Reasons being that no matter the high levels of development or sophisticated technology, there will still be areas where these developments won't reach. And they still will have contact with themselves making use of the fiats for themselves and also having its equivalent if the needed arises to transact with the digital currencies.
October 04, 2018, 06:05:53 PM
fiat can be important think, to decide crypto price. but if government change fiat into crypto, it mean they must create their own token like fiat. i mean when you convert bitcoin to local crypto, its like you convert to fiat. so every country have different price.
October 04, 2018, 03:38:13 PM
Fiat is very necessary because fiat is a payment medium, and every country has it as a national currency. Fiat has been used for a long time and people use it as a means of payment and as a measure of wealth.
October 04, 2018, 03:12:49 PM
Fiat currencies have been with us for several years and have done so well. However, the popularity of fiat currencies is reducing with the development of digital currencies which is expected to make financial life easy for people. The use of fiat currencies will continue to drop as more people use cryptocurrency.
It is not about fiat currencies being several years old, but the use is more important. I agree people are willing to use digital currencies, but BTC or any coin will not replace the country-specific fiat currency. The World economy works on the fiat currencies, so yup it is very important that this fiat does exist. Maybe in future fiat physical currency will be gone, but the digital currency will be related to old fiat only.
October 04, 2018, 02:41:27 PM
In our present era it is necessary because the old banking system has not yet accepted it due to its innovative technology their having a hard time in accepting it because that would mean that they've admitted defeat and prove that digital currencies are better and our current commerce isn't prepared for online payment yet.
Yes, we all need traditional money. Unfortunately, the mankind will not survive without fiat. the banking system is very strong. However, the cryptos will be used as well.
October 03, 2018, 06:26:10 PM
Fiat currencies have been with us for several years and have done so well. However, the popularity of fiat currencies is reducing with the development of digital currencies which is expected to make financial life easy for people. The use of fiat currencies will continue to drop as more people use cryptocurrency.
October 03, 2018, 03:16:58 PM
Still, fiat currency is very essential in local areas because still, they don't believe in cashless transactions. Yes, fiat currency is the necessary requirement even though cryptocurrencies exist because cryptocurrency cannot be controlled by the government sectors.
People will always need the paper money as it is very simple to buy/sell things with it. To deal with the cryptocurrencies, you need the internet connection at least.
October 03, 2018, 02:56:47 PM
We can dream about crytpo words without money but we all understand that not pissible at least 100 years more)
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