Topic: lets imagine world without fiat currency - page 4. (Read 2209 times)

It does come to my dream that we are in a cashless world and bitcoin is being used everywhere, but reality speaks something else. Probably not a single country we have where each and everything could be bought with bitcoin. There may be partial things available but not all. A long way to go before it happens something like this.

Indeed, even there wouldn't fiat monetary standards, however, there will be some public computerized monetary standards that will lead the public economy. So all that will be determined by means of public monetary standards. Milk value, fuel cost, or lease expected to compute through public advanced cash. It couldn't be fixed at the BTC cost since it's much unpredictable. We can't stop unpredictability because of gigantic interest if on the off chance that there is no fiat (genuine) cash. There should be something to gauge the Bitcoin value, which is steady. At that point, all item costs would be fixed into that and pay bitcoin as needs are.

I can't imagine it World without fiat currency is possible if government and all people in the whole world will accept a cashless payment and adopt cryptocurrency in exchange of fiat money. I think this is a little difficult but eventually people will get used to using digital currency.

Well, the market price of physical goods is not a constant thing and also has a tendency to change, because this is the essence of the market and market relations and the price in bitcoins changes hourly, because the final price of physical goods is still expressed in Fiat currencies  I absolutely agree that the national currencies of States will continue to live and live despite all the revolutions of the digital world and can only change their shape, but the essence will remain all the same. No normal and strong state will put its fate and its monetary policy in the hands of developers who have nothing to do with this state.

I think it is a subject with many edges and points to define. The first thing in the case of cryptocurrencies is to have a universal FinTech law on a regulation of cryptocurrencies that is understood as regulation a global form of economy, not control in the way of carrying out current transactions since this is one of the main current advantages.

I share an interesting post about the future of fiat currencies.

"The Bridge Between Fiat and Cryptocurrencies Is the Future Of Fintech "

https://www.entrepreneur.com/article/352185

Regards,

There are two possibilities that can occur if Bitcoin is made the main currency, and FIAT has not been found or not used or does not exist.

1. Bitcoin will be abandoned and made into a legacy currency which will be replaced by a new digital currency that is more flexible regarding total supply, transaction speed and easy to use for our grandparents.

2. Bitcoin will become king because of the many improvisations made by great people who continue to contribute to developing the power of Bitcoin and Blockchain so that it can be used comfortably. It is certain that the price will be very expensive for 1 Bitcoin, because the world economy currently has a ratio of 99: 1 with bitcoin, so Bitcoin must be prepared to be that strong in balancing very fast human needs.

How do you express the value of a dollar? There is no reason why you can't express the value of a bitcoin in the same way.

I personally cannot even imagine our world without the national currency of states.  To have an idea of ​​the value of a cryptocurrency, it must be compared with the value of objects in the world around us.  If there is no dollar, euro, pound and other currencies, how will we express the price of bitcoin?  We'll have to then in cows, horses and so on.  For example, one bitcoin will cost 10 cows or 7 horses.  However, after a few hours or even minutes, bitcoin may already be worth 10.2 cows or ten cows and one rabbit.  What if you don't need cows and rabbits?  You can, of course, evaluate everything in ounces of gold.  However, then it is necessary for gold to really go.  And in order not to constantly carry it around with you, they will again come up with safe and promissory notes, which will lead to their highest form - paper money.  Want to reinvent the wheel?  Or do you think that all previous generations of people were stupider than us?  Therefore, cryptocurrency can only be traded with the currency of states.

In my opinion, there is a nonentity to imagine right immediately. Because so distant Bitcoin or any other currency has not been falsified everywhere. Fiat exists and is not something that will become extinct in the future. So for now, even if you don't imagine it.

Full of chaos, Fiat is there already and design which almost all of the exchange are being successful. There is no way we should abolish the fiat currency for this is the main reason why cryptocurrencynhad became an assey and has the value. Everytime we exchange our fiat to crypticurrency the value of cryptocurrency will change that because it has only limited supply and demand matter. However, if not with fiat currency crypto will not br tagged as an asset for its value came from the demand from its users in exchangr with fiat currency.

It is not possible for all of the world's population to deal in digital commissions ... and cutting out paper commissions ... is impossible

In days past someone bought a satoshi for $ 1 on an LN network. Maybe  the synergy in the opposite effect of buying pizza for 10k BTC.

What am I trying to tell you, It is that the previous paragraph summarizes your OP, it is simple is your point view in contrast to what I mention. There is not doubt that it seems that what you say makes a lot of sense and perhaps the classic "common sense" that you have abouth  information about what bitcoin is, makes you understand it to get to your OP's guess. But you need additional understanding of what bitcoin really is and how it can be developed even with or without scalability.

I think you are at the point of interpretation of understanding what you read ( concerning bitcoin)in fact, as I told you, they are common sense, yes, but in the Fiat.

Many believe that bitcoin is closing the gap between rich and poor, nothing to do with it or they think that the Fiat currency will disappear. The Fiat does not have to disappear as well as the gold, silver and many other valuable goods that exist or as simple as sterling have not disappeared.

There are people who think that bitcoin must rise in price to make them richer, it seems obvious, but every time the bitcoin unit becomes stronger, so does satoshi and that is where satoshi as a fractional unit comes into action even with the few of millions that remain.

Anyway, it is a subject with a lot of debate from the traditional Fiat point of view and the point of view of bitcoin, sometimes in that philosophical analysis that I doing I think they are like classical physics and quantum physics (keeping the obvious appreciations that exist) They coexist spontaneously so much that it is sometimes difficult to explain some things correctly based on mathematics or theoretical physics.

Undoubtedly there are things with bitcoin that we just have to wait and that the social and economic synergy in its exponential nature can define in the future and that is where we will have more precise answers to our conjectures.

You don't need technical skills. Crypto is easier to use than fiat. My bank card expired the other day so I had to drive all the way to the bank wait in line then be helped and then get issued a new one. What a pain!!
Crypto you don't need to do any of that you just need to rely on yourself. You need to check 5x before sending any transactions to make sure everything is 100% correct. If you use fail-safes & only deal with transactions when you of sound mind then you will be fine. Never ever deal with transactions when you are feeling emotional, you are bound to make a silly mistake that will cost you dearly.

If the world were to be imagined without the Fiat currency, the government would suffer the most because the government cannot control any currency other than the Fiat currency because they are decentralized. Therefore, the government will never allow the adoption of any currency other than the Fiat currency. bitcoin is one of the most lucrative currencies in terms of investment, but Fiat is the most widely used currency in the world. The whole work takes a fiat coin. For this reason, despite the introduction of Bitcoin, Fiat is more acceptable.

Indeed, it is impossible for every country not to have fiat, there's a word called evolution and innovation, sooner or later in the past years of course they will see and think of this fiat to be created so fiat will always be there, maybe soon crypto will be fully recognized but fiat will not be replaced.

If the world is without fiat, I am not sure that Bitcoin and crypto will exist. They exist because one of them is that they want to renew the currency of the world, not using the bank system that really kills the users sometimes. this is created at first as a form of disappointment with the banking system and its fiat.
And The condition will be a barter system. Where you can get other goods by using other goods. back to the past life.

Surely we will return to a civilization where everyone transacts with silver and gold, if we imagine that fiat currencies do not exist in the whole world, surely the concept that is applied to bitcoin will work well and facilitate the growth of Bitcoin, because there have been many major changes and technology is growing rapidly at this time, and we are also required to use fiat currency, so we must follow the government procedures that our government has prepared to use fiat currency for exchange or transactions, but in fact we are in line with fiat currency and currency digital which is called Cryptocurrency, as a transactional tool for us today . . .

I don't like to imagine a day that only one currency is being used in the world, no matter what that one currency is.

Instead of that I'd like to see a variety of different cryptocurrencies totally replace fiat, it doesn't have to be Bitcoin or Ethereum, but all of them should be totally decentralized currencies with great security and privacy features that people can trust, because I believe using only one currency in one country or even worse in the whole world can create many other problems which you already mentioned the good part of it.

So the most important change that should happen sooner or later is moving from fiat currencies that are controlled by governments and their banks to cryptocurrencies that are controlled by their own network which is about as decentralized as it gets.

First of all, it is not possible for people all over the world to use Bitcoin together because using Bitcoin requires technical skills and tools. Moreover, a part of the people in every country are uneducated and have no technical knowledge, so it is not possible for them to use Bitcoin. On the other hand, the use of internet technology is mandatory for bitcoin transactions, so it may not be possible for everyone to transact through it. Moreover, due to the high fee of Bitcoin transactions, transactions in Bitcoin will be very expensive and in many cases impossible in the case of buying and selling low-priced goods. So it is not very reasonable to think of the world without the current currency, but it may be possible with the advancement of future technology and science.

Well that's why Fiat has been created because of that Bartering,since not all that we wanted can be provided by someone that needed our product so the trading took time before the individual finds the one suits for him.

though until now bartering is in use but only in limited occasion not like fiat or soon Crypto that everything we need can easily be provided as the availability can be always access .