Topic: The Great View of History - page 2. (Read 307 times)

Actually the issue with most of the people is that they don't understand the challenged which we could face during the adoption of bitcoin as a means of regular payment. Transaction time & cost are just a small issue. But coming to your point Fiat too can't be said as the solution to this menace. Continuing on fiat is just like increasing your debt more and more with time. In the history of mankind there has been no fiat currency that has survived. So perhaps fiat will come to an end and we will have to shift upon some other means of settlement.
Volatility is not an issue. Bitcoin is getting its volatility because people think it's an asset which would appreciate and they are exchanging their fiat for it. If governments would issue bitcoin in return of fiat by destroying the fiat then volatility will not be an issue. Major problem is the credit control.

The inflations in fiat money make the holder losing value each day, so putting fiat on some kind of open ledger, that cut be a blockchain or another open account, would be a good idea, if that cut end the daily inflations from the central banks.
I don't think it would work if all countries gave up their own fiat currency and started to use bitcoins. But bitcoins can be an international way to store value and for cross border payment.

Because of their belief obviously, I cant blame them those who believe that crypto will replace fiat. Probably they believe it because they think that it is easier, it is modern, and many other reasons but they forget that bitcoin is volatile which is almost impossible to be used as a replacement of fiat. Most government wont use such volatile currency as their main currency. 

My opinion is there will be alway fight versus all gender opinion or convergeance better stay away from those fight and make your path between this

I think the communist manifesto predates first world war because it was after the cold war that the world war two began and at that time the capitalist were already winning the war. Fascism have lost out and was fused into the communist manifesto to face capitalism in the cold war.

Capitalism is not a political or society system as Fashism and Communism.   Democracy is a political system.   Capitalism is a economic system and opposite to capitalism is socialism. Where work is what is the ideal instead to idealize capital.

I agree, most people think that bitcoin can replace fiat, which we know had been the main medium of exchange used. Back from history, where people mainly use stick and stones as a medium exchange, and there comes barter, where people trade goods for goods(including spice which was as valuable as gold and silver) , and then here comes the banks where fiat or paper money was introduced. With this, logically it takes a great deal of time and a big change of the whole economic system to change from one medium of exchange to another. Even if technology takes over, I think fiat will still be used and bitcoin/cryptocurrency will sit along side with it as an alternative.

First of all goods from developing countries are not artificially cheap, they are just cheap and that happens because their labour is cheaper than ours. That's it.
The other thing is that fiat currency are better than gold or silver (if you are going to use it as a currency). Fiat currencies allows central banks to provide their monetary policy and stimulate a country's export and boost the economic growth of the country that would overcome the inflation. Meanwhile the economy doesn't work with deflation and if something like that happens you would get back to the middle ages pretty fast.

Why do so many people think that crypto will replace FIAT in the future even when its adoption rates are so low at the moment? This will never happen since FIAT will always be the primary money source despite its disadvantages which you mentioned.

Bitcoin was always meant to serve as an alternate payment method and nothing else in this case.

Did Western capitalism defeat both Communism and Fascism?  Yes.

Is the Western ruling class objectively superior to Communist and Fascist rule?  Yes.

Would the fight against Communism and Fascism have even been necessary if the West had lived up to its professed ideals?  No, because Communist forces rose in Russia by the Western-inspired bloodshed of World War I, and Fascist forces rose in Germany and Japan by the West's self-inflicted Great Depression.  But the sharp contradictions within socialism and Fascism sealed their fates as short-lived systems.

And we turn now to money and economics...

Will sound money replace fiat money?  I predict yes, though the next version of sound money won't be a declared gold or silver standard, but 'managed exchange rates' between state-issued money and a host of 'hard' monies, including cryptocurrency, which will amount to the same thing on the ground.

Is sound money objectively superior to fiat money?  Yes.

Will the fight against fiat money have even been necessary if the Western elites maintained a truly free market system?  No, fiat money arose because the Western elites had slowly painted themselves into a corner by financial inflation to benefit politicians and bankers.  Fiat money, or, more realistically, money backed by artificially cheap oil and artificially cheap goods from developing countries, was the short-term solution to keep the world system stable, and can only be a short-term solution.

The duality is interesting!