Topic: You think that governments might adopt cryptocurrencies to replace fiat currency - page 3. (Read 1170 times)
January 11, 2020, 12:53:03 AM
If its possible to help all people on any country its also possible to adopt that (cryptocurrency) because the good government always looking on the benefits for people on their country of course, They didn't decide only for few at least for all right? If its also, if no corruption on their country its possible.
January 11, 2020, 12:21:25 AM
Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
Lol... the purpose of fiat currency is not for trading between citizens. If you want to trade, then you can do the same using gold or silver, or just any other asset. The real purpose of fiat currency is to enable the governments to take debt from lenders, so that they can splurge all that money on wars, welfare payments and on themselves. Do you think that this will be possible if they replace fiat currency with a cryptocurrency such as Bitcoin?
January 10, 2020, 11:43:58 PM
Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
Lol... the purpose of fiat currency is not for trading between citizens. If you want to trade, then you can do the same using gold or silver, or just any other asset. The real purpose of fiat currency is to enable the governments to take debt from lenders, so that they can splurge all that money on wars, welfare payments and on themselves. Do you think that this will be possible if they replace fiat currency with a cryptocurrency such as Bitcoin?
January 10, 2020, 10:46:57 PM
Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
Governments of the world are without a doubt going to create their own cryptocurrency but they are never going to adopt a decentralized cryptocurrency like bitcoin because they fear that if they let their citizens the choice to adopt a centralized cryptocurrency or a decentralized cryptocurrency they are going to choose the decentralized version which they do not have any way to control but I really think that no matter what they do eventually decentralized cryptocurrencies are going to be the ones that will win and will be adopted by the entire world. I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
January 04, 2020, 11:06:10 AM
It is going to happen sooner or later, especially when the economic giant that is China has already announced its official coin, similarly Dubai and some other middle eastern countries are also working on crypto and blockchain, i think once these projects surface then most other countries will also follow resulting in real mass adoption.
January 04, 2020, 11:02:08 AM
Nope they won't, there are slight chances that government use Blockchain to create a stable virtual version of native currency. But then it do not change anything relate to crypto. It will create decentralised transaction record system not related to crypto.
The current money is an illusion, it only exists in numbers written by the central banks. There is a mathematical backup of the monetary system and the whole financial system is rigged. The best alternative is to apply the advantages of blockchain technology to traditional banking, monetary system in these conditions. January 04, 2020, 07:34:06 AM
Nope they won't, there are slight chances that government use Blockchain to create a stable virtual version of native currency. But then it do not change anything relate to crypto. It will create decentralised transaction record system not related to crypto.
January 04, 2020, 06:58:03 AM
However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
maybe 100 years from now it will be possible to do so, but it is impossible today because there are many governments that invoke the sovereignty of their governments to refuse many things when those same people of governments who invoke sovereignty issues like to accumulate their wealth in US dollars and buy homes and other properties in rich countries like the US
January 04, 2020, 06:41:15 AM
in my opinion governments can and will adopt cryptocurrencies as protocols but not replace fiat currency.
fiat currency has its advantages that we dont consider, read the book Naked Money he talks about it there
fiat money is great, its the people who are not educated enough to use it wisely
fiat currency has its advantages that we dont consider, read the book Naked Money he talks about it there
fiat money is great, its the people who are not educated enough to use it wisely
I think, even though fiat money is good, but they also experience inflation, there is no promising fixed value. with cryptocurrency speeti. my suggestion is better the government divert to crypto to be used as the country's currency as a medium of exchange. so that people can easily conduct transactions in everyday life.
December 10, 2019, 06:43:14 PM
This is quite a controversial issue. So far, cryptocurrencies are not ready to be accepted. Therefore, it is too early to talk about the use of cryptocurrency at the state level. Time must pass before this question can be answered.
December 10, 2019, 06:32:46 PM
I truly believe in blockchain technology, for crypto to replace fiat it must go through some regulations and control. Many in the cryptocurrency community have spent years predicting that digital currencies will someday take the place of fiat currencies. But mainstream economists tend to view cryptocurrencies with more than a bit of disdain
We all also agree that blockchain and cryptocurrency bring many useful changes. Blockchain was adopted by many institutions and governments to improve utility. While cryptocurrency is still full of pros and cons, although it is profitable but also has a bad side where it can be misused in illegal activities, that is what most governments worry about. So, even if cryptocurrency replaces Fiat, it requires quite a long time and various complicated regulations. I am more certain if cryptocurrency and fiat are used together, complementary.My answer to the OP question, the government don't want crypto to replace fiat and Satoshi also don't create bitcoin to replace fiat but to serve as an alternative.
December 10, 2019, 06:09:45 PM
Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
With how the technology works, nothing seems to be impossible now, but it's not going to be immediately, maybe a government can try it in one town if it is successful he can try an entire city and if they have success it, they can implement it in the whole country, but it's impossible if they do it in a whole country right away.
December 10, 2019, 06:04:59 PM
I would very much like crypto to replace fiat money, but States will never allow them to do so. Many countries still have a negative attitude to crypto, so it is too early to talk about the introduction.
December 10, 2019, 05:43:58 PM
Fiat currency integrate with government system which is related to the economy situations from particular countries and it has been running for hundreds of years and not easy to replace fiat money to other option such as cryptocurrency and for time being i think why governments adopt cryptocurrency because maybe they want to learn the technology behind it but to be replacement of fiat i think it's hard to realize
indeed the government might only use its technology owned by cryptocurrency to strengthen fiat currencies and may also be used to accelerate transactions over long distances using fiat currencies, cryptocurrency like bitcoin will be very difficult to use for daily life because it has unstable exchange rates and has very little supply. December 10, 2019, 05:40:03 PM
I truly believe in blockchain technology, for crypto to replace fiat it must go through some regulations and control. Many in the cryptocurrency community have spent years predicting that digital currencies will someday take the place of fiat currencies. But mainstream economists tend to view cryptocurrencies with more than a bit of disdain
We all also agree that blockchain and cryptocurrency bring many useful changes. Blockchain was adopted by many institutions and governments to improve utility. While cryptocurrency is still full of pros and cons, although it is profitable but also has a bad side where it can be misused in illegal activities, that is what most governments worry about. So, even if cryptocurrency replaces Fiat, it requires quite a long time and various complicated regulations. I am more certain if cryptocurrency and fiat are used together, complementary.
December 10, 2019, 05:36:25 PM
I truly believe in blockchain technology, for crypto to replace fiat it must go through some regulations and control. Many in the cryptocurrency community have spent years predicting that digital currencies will someday take the place of fiat currencies. But mainstream economists tend to view cryptocurrencies with more than a bit of disdain
We all also agree that blockchain and cryptocurrency bring many useful changes. Blockchain was adopted by many institutions and governments to improve utility. While cryptocurrency is still full of pros and cons, although it is profitable but also has a bad side where it can be misused in illegal activities, that is what most governments worry about. So, even if cryptocurrency replaces Fiat, it requires quite a long time and various complicated regulations. I am more certain if cryptocurrency and fiat are used together, complementary. December 10, 2019, 12:34:23 PM
I think it's possible cryptocurrency will replace fiat money. because if we see today some countries will create their own crypto such as China, Japan, Sweden and Russia. and currently we live in a digital age that strongly supports the use of cryptocurrency. and some of our people have also become accustomed to making payments online. so in my opinion maybe in the future the use of fiat money will decrease and be replaced by cryptocurrency.
I think that this idea is utopian for most gosudarst. In any case, we will not see this in the near future. Yes, there is an exception - China. China has prepared testing of the national cryptocurrency in cities such as Shenzhen and Suzhou. And just Bank of China issued bonds on the blockchain for $2.8 billion. but other countries that are in the European Union are not even ready to accept stabilcoins.
December 10, 2019, 12:07:51 PM
Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
With how the technology works, nothing seems to be impossible now, but it's not going to be immediately, maybe a government can try it in one town if it is successful he can try an entire city and if they have success it, they can implement it in the whole country, but it's impossible if they do it in a whole country right away.
December 10, 2019, 11:47:00 AM
Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
All types of existing currencies have their own flaws. There is no perfect currency that will fit everyone because all have differences that is why there are variations of currency existing worldwide. Added by the fact that each currencies in different countries do serve as their identity when it comes to the world trade and market. This serves to identify the prosperous countries above others which makes them the basis of the worldwide change and movement of the fiat currency we currently have. Though the thought of yours is possible to happen, still it will be a long term process before the world can establish a single crypto to be used by all the countries around the globe for trading.
December 09, 2019, 09:31:38 PM
Fiat currency integrate with government system which is related to the economy situations from particular countries and it has been running for hundreds of years and not easy to replace fiat money to other option such as cryptocurrency and for time being i think why governments adopt cryptocurrency because maybe they want to learn the technology behind it but to be replacement of fiat i think it's hard to realize
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