it is possible fiat currency will crashed? - page 35.

PokerFace3

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Quote from: katarin2030 on November 13, 2017, 02:53:58 AM

Fiat money is currency that a government has already declared as legal tender in many countries across the world, so I think it's not possible to get crashed.

Fiats can crash against themselves anytime as some of them get strengthened. I am in a country where Fiat has experienced some crazy huge crash for a while before it started getting strengthened back after the intervention of the government with some strict monetary policies and controls.

It is normal and with most countries that rely mostly on importation, they are always bound to experience this since they depend on USD for making merchant payment, without leaving out corruption within the system as well.

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Quote from: millgates on November 13, 2017, 07:31:45 AM

Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

It is positive, fiat is not fair for us. We work to get value, usualy in form of fiat but if the government print money in excess. The value of money we have will be decrease because of inflation. It is not fair!. I agree that fiat will be crashed, there are some fiat which already become worthless now.

If fiat falls, are you sure there will be no impact that will happen after that. Wink

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Fiat currency has been used by many people for a very long time so its not that easy for fiat currency to be crashed. Fiat money will still be there along with cryptocurrency, and will not be crashed. Many people, especially ones who don't know what is crypto or don't have internet connection rely on fiat money as their way of payment to buy things so if this fiat currency will be crashed what will be the currency they will be using? How can they earn bitcoin for example if they don't have access to internet connection. Cashless society will never happen.

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Quote from: kingntking on November 07, 2017, 01:52:42 AM

Quote from: TheAndy500 on November 01, 2017, 09:34:30 AM

Not crash but replace, there is a small chance that it will ever be replaced with another form of payment but never in my opinion will be destroyed in itself.

Yes, the paper money can't be replaced totally by the digital currency in any time because there are many processes, in which only paper money can be used and digital money is useless there. Bitcoin can replace paper money in future but upto a specific extent and it importance will continue with the importance of digital money.

Even if people started using bitcoin in daily life, then with it paper money will also play an active role. Both are having their own importance, we can't compare one thing with another by means of its importance.

Agreed! There is no point of denying this fact that with the introduction of digital money, the usage of paper money has started decreasing. In my opinion, there is no way that we can actually see a cashless society. It is because of the reason that paper money has its very own importance and it will be used by the people in the coming days as well. Bitcoin cannot crash the paper money entirely.

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Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

No. I don’t think that fiat currency can and will crash in the upcoming future because firstly, fiat currency is very popular and because of which it is immensely being used by the people of all age groups which leads to increasing the stability of fiat currency. Then secondly fiat currency is a stable form of currency so it’s value does not fluctuate and then it is regulated by a government or bank leading to increasing in its stability. A fiat currency can only crash if the economy of the country in which it is being used crashes.

millgates

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Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

It is positive, fiat is not fair for us. We work to get value, usualy in form of fiat but if the government print money in excess. The value of money we have will be decrease because of inflation. It is not fair!. I agree that fiat will be crashed, there are some fiat which already become worthless now.

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Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

There seems no possible point about this because when we are talking about Fiat its about whole economy and financial system of a country and it cannot be dead at one go only as all the work depends upon Fiat including development and physical payments and manufacturing which are not possible in absence of fiat.Although digital transactions are taking place of legal currency but still they cannot overtake them completely because there are some people who still don't know about the technical working and loose faith in digital payments.So don't believe such news without any proof or research of your own.

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Quote from: megynacuna on November 13, 2017, 06:41:08 AM

Quote from: monomix on November 13, 2017, 04:11:59 AM

once in zimbabwe ex rate for US dollar was Z2,6 bln for 1USD. bread cost Z600 mln. would you consider that a crash? i definetely do. that produced extreme poverty and chaos.

But this is just one country we are considering but for the whole world's fiat to crash will be something and i don't think it will ever happen even if cryptocurrencies dominate our societies greatly because the fiats are what the governments control and they wouldn't supervise its down fall.

Bitcoin is getting importance in different countries in different manner. So, every country won't show the same response and approval for bitcoin in various segments. When the usage of people increases and if fiat is not in a state to fulfill the same, automatically people will start using bitcoin in a large scale. But the same will not crash fiat.

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Quote from: monomix on November 13, 2017, 04:11:59 AM

once in zimbabwe ex rate for US dollar was Z2,6 bln for 1USD. bread cost Z600 mln. would you consider that a crash? i definetely do. that produced extreme poverty and chaos.

But this is just one country we are considering but for the whole world's fiat to crash will be something and i don't think it will ever happen even if cryptocurrencies dominate our societies greatly because the fiats are what the governments control and they wouldn't supervise its down fall.

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Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

For me,I think from the point of where I am looking at it, I think fiat has been crashing ever since but because of the support it enjoys, it then get to seems as development and because of that crashing, that's why some amount of money that would made a fortune in say 30 years back might not even change status in this current settings and that is why the government review minimum wage every now and then which is of course towards the upward trend. This fact alone attest to that the minimum wage before cannot maintain the basic standard of living and its because the fiat has crashed and you needed more to meet the same need.... And I also think so. What happens to a country or country without money? Crypto lately is very much in demand and many investors choose investments and bitcoin transactions, but in my opinion not as strong as crypto money will replace the fiat, although its function is not much different. fiat is a source of crypto money...

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Quote from: Al Amin on November 13, 2017, 03:49:21 AM

Quote from: machinek20 on August 06, 2017, 07:29:41 PM

Fiat cant be crashed, fiat is the strength of a nation and keep on being controlled and supervised by the government, each country need a fiat and fiat is far more powerful than any crypto currencies

True, I agree with you until whenever fiat will exist even though in time fiat looks lower than crypto money. Fiat will continue to work for those who can not follow a new era with digital money. It is not possible if a government will eliminate 100% fiat and I believe that fiat will remain side by side with cryptocurrency.

Maybe you guys are lucky to not have been in a country that is pretty messed up to have experienced such, but at least I am sure if you have been listening to the news, one way or the other you must have heard about Zimbabwe or Venezuela.
These are countries that have experienced some crashed fiats over time that some like Zimbabwe now have totally dumped their currency and rely on USD and we both know what that means. With the strict policies of not being able to make international transfers, as there is low supply of USD in the country, this has made bitcoin and some other cryptocurrencies the savior, which is why Bitcoin is higher in value presently than in the normal market.
So, can fiats crash? Oh Yes!

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Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

Fiat currency will only crash if people stop using it so it will decrease the demand while supply is still high. Maybe Robert Kiyosaki is reffering to the future of digital money but yeah it has big possibility that it would happen into some local fiat currency not in the entire world's fiat money in general. I think that had happened before here in my country wherein our local currency collapsed due to the financial crisis way back I think that was 2009. I believe that local fiat currency could possibly crash anytime in any unexpected and unwanted reason. We need to accept the reality that there is no permanent in this world. It is just like our life where people come and go.

monomix

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once in zimbabwe ex rate for US dollar was Z2,6 bln for 1USD. bread cost Z600 mln. would you consider that a crash? i definetely do. that produced extreme poverty and chaos.

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Quote from: machinek20 on August 06, 2017, 07:29:41 PM

Fiat cant be crashed, fiat is the strength of a nation and keep on being controlled and supervised by the government, each country need a fiat and fiat is far more powerful than any crypto currencies

True, I agree with you until whenever fiat will exist even though in time fiat looks lower than crypto money. Fiat will continue to work for those who can not follow a new era with digital money. It is not possible if a government will eliminate 100% fiat and I believe that fiat will remain side by side with cryptocurrency.

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Well maybe it is possible but I can't really say. And if fiat currency totally crashes I guess everything will go even crazier than their reactions on inflation. That can bring a total mess all around. And if it occurs just wish our governments already have a solution so everything remains fine.

katarin2030

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Fiat money is currency that a government has already declared as legal tender in many countries across the world, so I think it's not possible to get crashed.

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Now its the matter of time crypto currency will takeover fiat. Unlike fiat counterfeit u cannot cheat using crypto

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Quote from: chelle5 on November 06, 2017, 05:28:54 AM

I think there is no such thing that fiat currency could possibly crashed.Maybe if the economy of the country will fall there is a possibility that fiat currency will crashed.

Agreed! There is no point of denying this fact that paper money has its very own importance and still there is a huge number of people who are using paper money and are even unaware of what crypto currency actually is. I am in very much favor of this thing that paper money will remain at its very own place no matter what the conditions and circumstances will. Crypto currency will not have this much effect on paper money.

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Quote from: salihno71 on November 06, 2017, 11:27:40 AM

Quote from: Jmmerquita on August 06, 2017, 02:47:54 PM

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

There is such a thing as hyperinflation https://en.wikipedia.org/wiki/Hyperinflation which basically devalues your fiat really quick. This would be most likely the closest to the crash of the certain currency.

You may be true but that comes with some ambiguities. There are so many people who are thinking of a cashless society. Yes there will be surety that when bitcoin will come as a currency, it will be spreading all over the work and definitely then value of cash will decrease. But bitcoin will not disappear cash from society. It is the need of everyone, else it will take much to me to just go.

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Quote from: machinek20 on August 06, 2017, 07:29:41 PM

Fiat cant be crashed, fiat is the strength of a nation and keep on being controlled and supervised by the government, each country need a fiat and fiat is far more powerful than any crypto currencies

I also think so. What happens to a country or country without money? Crypto lately is very much in demand and many investors choose investments and bitcoin transactions, but in my opinion not as strong as crypto money will replace the fiat, although its function is not much different. fiat is a source of crypto money.

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