How will the live without fiat money?

[Princeraju]

I read a lot of different posts in this forum about when cryptocurrency replaces fiat money, and thinking about it I had more and more questions about how the world will work without fiat money. And some questions really bother me, as I still do not see any obvious answers to them. Suppose that Bitcoin has become the dominant currency in the world and all other currencies have simply disappeared. What should people do if in the event of a cataclysm or natural disaster people are left without light? Moreover, whole cities and regions may remain without light. Suppose that the light in these cities can not be restored quickly. How will the purchase of goods, food, money transfer? Or another situation. The world accepted Bitcoin as the main cryptocurrency, miners pooled and formed a monopoly syndicate, and raised fees for transferring funds. I do not know how technically possible this is, but this question worries me. If you have answers to these questions, I will be glad to hear them.

[Speaker]

I think that if this happens-it will be very not soon and when it happens - the world will be able to build the infrastructure for this .
You have very interesting questions.And if you have them, then the rest will also try to minimize the risks associated with this and can even eliminate them.
Bitcoin will undergo more than one change...perhaps for the functioning of bitcoin electricity is no longer needed or people will learn to produce it from the air.Communication will be via satellites, and people can live on Mars or the Moon.

[trauchot]

We can adapt to everything, people are constantly evolving and we are getting used to everything and we will get used to the same thing if there will be no fiat money and if we will move on to the same cryptocurrency, we can also go through all the difficulties.

[Shahinaz]

it's hard to imagine if  live without fiat money because fiat money is state-authorized and legal money, if indeed cryptocurrency is also like fiat money, I think people try to accept and must adapt to Crypto itself.

[kenning]

I read a lot of different posts in this forum about when cryptocurrency replaces fiat money, and thinking about it I had more and more questions about how the world will work without fiat money. And some questions really bother me, as I still do not see any obvious answers to them. Suppose that Bitcoin has become the dominant currency in the world and all other currencies have simply disappeared. What should people do if in the event of a cataclysm or natural disaster people are left without light? Moreover, whole cities and regions may remain without light. Suppose that the light in these cities can not be restored quickly. How will the purchase of goods, food, money transfer? Or another situation. The world accepted Bitcoin as the main cryptocurrency, miners pooled and formed a monopoly syndicate, and raised fees for transferring funds. I do not know how technically possible this is, but this question worries me. If you have answers to these questions, I will be glad to hear them.

I assume when life without fiat most of the countries will be in chaos because crypto is not back by the government and the whales in crypto can manipulate the market easily and it will create a big commotion.

[backfirst77]

Currently we have not been able to leave Fiat as a means for transactions in the real world, because there are still many places that require fiat currencies as an option in making transactions unless we make transactions through online that can not use Fiat directly to pay. Because technology can not reach him all over the world as well as an obstacle.

[Luckyperson21]

We cannot live without Fiat. Fiat is needed in a country to stabilize the country's economy. Even though bitcoin is already global, but bitcoin can damage fiat. And fiat will lose, become worthless.

[kent47400]

Before the world lost electricity and energy for cryptocurrency mining, we fully returned to the past.
There is gold that can be made into a medium of exchange, barter with goods can also be used.


I think this topic to discuss for life is not always about cryptocurrency because the world outside is still wide.

[masterrex]

I read a lot of different posts in this forum about when cryptocurrency replaces fiat money, and thinking about it I had more and more questions about how the world will work without fiat money. And some questions really bother me, as I still do not see any obvious answers to them. Suppose that Bitcoin has become the dominant currency in the world and all other currencies have simply disappeared. What should people do if in the event of a cataclysm or natural disaster people are left without light? Moreover, whole cities and regions may remain without light. Suppose that the light in these cities can not be restored quickly. How will the purchase of goods, food, money transfer? Or another situation. The world accepted Bitcoin as the main cryptocurrency, miners pooled and formed a monopoly syndicate, and raised fees for transferring funds. I do not know how technically possible this is, but this question worries me. If you have answers to these questions, I will be glad to hear them.

Honestly it will not happen for me the fiat money will not lost since its a major tinder an issue from the legitimate  government institution and its very hard to live without fiat money in an intances since most of the people are not using crypto-currency it must be adopted first in the mainstream globally before we scrap the institutional fiat currency.

[inewoods]

I read a lot of different posts in this forum about when cryptocurrency replaces fiat money, and thinking about it I had more and more questions about how the world will work without fiat money. And some questions really bother me, as I still do not see any obvious answers to them. Suppose that Bitcoin has become the dominant currency in the world and all other currencies have simply disappeared. What should people do if in the event of a cataclysm or natural disaster people are left without light? Moreover, whole cities and regions may remain without light. Suppose that the light in these cities can not be restored quickly. How will the purchase of goods, food, money transfer? Or another situation. The world accepted Bitcoin as the main cryptocurrency, miners pooled and formed a monopoly syndicate, and raised fees for transferring funds. I do not know how technically possible this is, but this question worries me. If you have answers to these questions, I will be glad to hear them.

I am quite sure no matter how powerful crypto will be in the future the totally replacement of fiat idea is almost impossible at most it can be like visa or mastercard which is another avenue for payment. The world without fiat money will be disastrous.

[Alcor]

You can not worry about this. Fiat will not disappear anywhere and will continue to exist for a very long time. No state will ever give up their national money in favor of decentralized cryptocurrency. No matter what anyone says, this will never happen. The state needs its own money to develop its economy. The common currency of a state can disappear only in one case - if all states unite in one state with a single government or in an alliance of states with a single government. Until this time fiat will exist. Since we are still far from a single government, it’s possible not to worry about fiat.

[Rituvohra01]

I think it is not possible we can't live without fiat money because we purchase our daily routine item with fiat money. It can't be disappear.

[LogiC]

We can adapt to everything, people are constantly evolving and we are getting used to everything and we will get used to the same thing if there will be no fiat money and if we will move on to the same cryptocurrency, we can also go through all the difficulties.

Difficulties? I dot think it will be added to make us experience more difficulty in life. This event will be impossible to happened not in the 50 more years to come. Maybe more years needed, maybe some countries are ready but how about those country that still experience poverty? I guess this will not be for all if deemed happened.

[khufuking]

Crypto as a whole is still in its early phase, I believe that Bitcoin will still see so many phases, there is one thing I always think about which is when is the time we will see all Bitcoin supply transferred into physical coins which can be just scanned with a special program to verify its legit, I know there will be a problem still which is how to connect those whole physical coins and make sure that the blockchain is updated to prevent the double spend etc.. but I strongly believe there will be a solution soon for this.

[gurunanakji777]

If bitcoin will be a main cryptocurrency to purchase goods, food and money. I still believe fiat will also remain because we can not fully dependent on digital payments we need cash as well in our hands for emergency as we all know everytime we are not able to use our netbanking or Atm/CC so cash is also a part of Fiat. If you say only bitcoin is available for purchase anything then I believe there must be some offline options too in case of no electricity.