Topic: lets imagine world without fiat currency - page 11. (Read 2209 times)

Milk, fuel, rent, etc. will be priced in BTC the same way it is currently priced in your currency. How would you price milk in euros or yen or Canadian dollars? There is no difference except the currency.


If Bitcoin is the only currency then everyone will have it. Nobody can use it to rule over others because it is censorship-resistant and it is not controlled by anyone.


The halving does not reduce the number of bitcoins. Bitcoins are not consumed. The number of bitcoins increases until it reaches 21 million. It doesn't go down.


Ethereum is not centralized.



If there are no fiat currencies, then there will be no coins pegged to fiat currencies.


What needs cannot be served by Bitcoin that can be served by fiat currencies?


The money supply is controlled by the protocol --> The money supply increases at a predetermined rate until it reaches 21 million BTC.


If people want money, they earn it (or shoot people). Bitcoin doesn't change that.


Bitcoins are issued in every block until there are 21 million.


Fiat currencies are also backed by nothing. Bitcoin has the advantage of being more dependable and is not subjected to the whims of people and governments.

For essential supplies, Bitcoin can still be used to pay for the products and services. The good thing about Bitcoin is that you don't really need to buy or own 1 or more bitcoins in order to take advantage of the benefits it offers. People easily get carried away from they hear the price of bitcoin forgetting you can get started already with smaller quantities. Once that mindset is removed, we can start pegging the price of these commodities to denominations in BTC.  No matter how high Bitcoin's price get, it would still be possible to get small denominations.

now lets imagine world without fiat currency.
lets say we use bitcoins.
so milk price how many btc?  fuel price? rent ? and how the prices will calculated?
and if there is only limited supply of bitcoins.....then those who who have bitcoins merely will rule over others?
so your skills or value in society dont count only matters who go the most of the bitcoins?
bitcoin halving by the time so less and less btc will be in circleation....so how the world will remain sustaineble then ?
okay if bitcoin is not good to be currency then ethereum ?? well ethereum is centralised as i know ?
stable currenies?? well i dont see point of them they are just the 1:1 of the same fiat currrencies.
so where does the theory come from then we go all in cryptocurrency and fiat currency will disapere?
well this is not possible bitcoin without fiat can not serve all the peoples currecny needs !!



right now we dont have clear answere so fiat currency still rules. how we are going to control the money supply how big quantity of currency is in circelation?
if bitcoin is the future of money without fiat then everybody will have the guns and shoot each other:D just to get other bitcoins becouse btc has limited supply lol   so i want to know if fiat currency will disapere then how the new currency will be issued? and how it will be backed?

and please dont comment something nonsense lets try to gather here only smart comments as this topic is important topic to know.