Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: Princeraju on March 12, 2019, 11:40:17 AM
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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In the next few years, fiat money will not disappear completely, as it did not disappear with the advent of plastic cards, they just take their niche and will be used in parallel with cryptocurrencies. Not always and not everywhere there is an opportunity to send Bitcoin to another person to the account, not everyone has a smartphone and not everywhere there is a stable access to the Internet. Therefore, cryptocurrencies will force out fiat money gradually.
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I think it won't be so different than living with buying/credit cards, but we will have cryptocurrencies instead of fiat money. There are already many places where you can pay with bitcoin, many currencies have their own chains of products available only for this coins, like for example FuturoCoin (https://futurocoin.com), which have their own chain of restaurants
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Technology can make people easy to do everything. Fiat has long been used as a payment transaction system and is running well to date.
Bitcoin was only introduced in 2008 and received a good response to the transaction system. I think Fiat and Bitcoin will be used as legitimate payment transactions in the future.
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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.
At the coming future I think It will happen. The live without fiat money, because I think It will be digital era. Lets see.
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I don't believe it's possible in the nearest future for crypto to replace fiat money.
There is still a great persantage of people who don't use digital products.
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I think it will not possible in the nearest future. Without fiat money it will so difficult this generation. It can be possible future generation when everything will degitalized.
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This is a serious issue and am glad someone could bring it up. Even if the whole world accept bitcoin as a means of payment I don't think fiat will go into exit. Rather they accept bitcoin as secondary option. Regarding natural disaster which can damage light I see this as one of the reason why the cold wallet has been invented. Which means no matter where you go their will still be a chance if seeing light in a community but there might not be good internet.
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I think it will not possible in the nearest future. Without fiat money it will so difficult this generation. It can be possible future generation when everything will degitalized.
No, paper money of the states will exist as long as there are different states with their own political, economic and other interests. And since world peace will not be soon, the paper money of the states will remain for a long time.
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If people live without fiat money, it should be the era of all modern technology around the world has been reaching until the low society in worldwide. We are talking about all the people in the world, so many differences. That is why I don't think that it will happen in short years, probably in 50 years later, who knows?
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Crypto currency and fiat money both is very much important and effective in our daily lives. We cannot pass a single moment without cryptocurrency and fiat.
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That is why the paper money of the states will not disappear. The world can never switch to the use of cryptocurrency only. States will never give up their national money. Therefore, you can calm down. Cryptocurrency has never set as its goal the crowding out of ordinary currencies.
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That is why the paper money of the states will not disappear. The world can never switch to the use of cryptocurrency only. States will never give up their national money. Therefore, you can calm down. Cryptocurrency has never set as its goal the crowding out of ordinary currencies.
I agree with your opinion. Paper money will not disappear anywhere. Some highly developed states may try to do this, but I am not sure that something will work out in them. I heard that this was stated in Sweden. However, it can be said that in the vast majority of countries, paper money will still exist for centuries, and then no one can foresee.
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Yeah ....that the question i been thinking foe 24 hours and thanks for the answer .... We can live by trading ..or some other facts giving and helping each other we do not need money to live we just need food family and happines
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That is why the paper money of the states will not disappear. The world can never switch to the use of cryptocurrency only. States will never give up their national money. Therefore, you can calm down. Cryptocurrency has never set as its goal the crowding out of ordinary currencies.
I agree with your opinion. Paper money will not disappear anywhere. Some highly developed states may try to do this, but I am not sure that something will work out in them. I heard that this was stated in Sweden. However, it can be said that in the vast majority of countries, paper money will still exist for centuries, and then no one can foresee.
Fiat will be always needed. I do not see any reason even to start thinking about the time when it vanishes. Traditional money will peacefully coexist with the cryptocurrencies, do not worry.
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Well, the very first thing that comes to mind is a paper bitcoin wallet, yes, it exists. Well, I don’t think that the real currency will ever disappear, since this financial system is very strong.
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I think the whole world is shifting towards automation and digitalization. Digital currency will overcome the currency notes sooner rather than later. The decentralization of the currency is quite important for the well-being of this world. What do you people think in this regard?
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A very nice question made here, if there is no more power supply in the world or country as the case maybe, there will be a great disaster all around the world, and bitcoin will/might even be the list problem to be look at, as lots of things/people will die and destroy. The world is developing to a technological place and light is a vital equipment for the development.
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Nothing like this will happen. Each country has its own law on money circulating in its country. It seems that it will be difficult if there is a world without FIAT money. People will be free to buy goods from abroad without tax
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There is no problem if there is no fiat. As long as we have gold coins as money, life can continue without problems in the financial sector. In ancient time, there was no fiat, but people can live with coins. So, don't worry. :D
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There is no problem if there is no fiat. As long as we have gold coins as money, life can continue without problems in the financial sector. In ancient time, there was no fiat, but people can live with coins. So, don't worry. :D
Why do some people worry about the world without fiat? It will not happen in the nearest 30 years, and I guess, other problems must be raised. Traditional money is not going to vanish, even when too many people use crypto.
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Hehehehehe, this is such a hot question. Imagine peoples transaction within each other through Bitcoin address. Firstly it might be hard for them to even stored their Bitcoin address off hand, one fucking mistake your money is gone, there is no way of confirming who owns this address. Secondly people like transacting physically within one another using cash because not all people are computer literate. Living without Fiat computer could be a natural disaster. So Bitcoin just have to be a support to the Fiat currency
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not possible and this will just create confusion to people.
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i agree with most. fiat isn't going anywhere, not for another decade. what i am hoping is, crypto and fiat going hand in hand in the near future, that might be a possibility for now.
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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.
Same and i don't think cryptos will be able to replace fiat completely
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so it’s possible that soon, many countries will start working with cryptocurrency.
In the future, most countries will likely use Internet currencies. Since in the future it will become more convenient physically. But it also depends on the stability of the cryptocurrency. If she jumps more and more often, then this will not lead to anything good. I think)
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without fiat money, it seems to me now it’s very difficult to live, there were even such experiments, I think everything will change in the future and we will begin to live differently
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without fiat money, it seems to me now it’s very difficult to live, there were even such experiments, I think everything will change in the future and we will begin to live differently
I agree. The cryptocurrency rate is not stable, so now only fiat
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Look at what the Chinese are doing with their QR pay and you'll see cashless society is not that difficult to achieve. Of course there's still fiat use here and there but it's a typical model of non fiat world. It's very simple. Everything is proceeded via QR payments, using a smartphone.
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I would probably be able to imagine the world without fiat money if cryptocurrency wasn't this volatile. I see the main problem in it. Like, will the prices for products/services change every 5 minutes? That's just impractical. I don't think the main purpose of cryptocurrencies is to replace fiat money, tbh
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I would probably be able to imagine the world without fiat money if cryptocurrency wasn't this volatile. I see the main problem in it. Like, will the prices for products/services change every 5 minutes? That's just impractical. I don't think the main purpose of cryptocurrencies is to replace fiat money, tbh
I agree with you. The purpose of inventing cryptocurrency not to be replaced fiat money, but to develop and improve more the use cases of fiat money.
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As with ordinary money, because in essence, using a bank card, you no longer use cash (paper) money.
As a currency, the crypt is not very different from ordinary coins, it is intended for exchange and also has its own exchange rate.
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Yes even i was i like how a world would be without fiat currencies but your comment made me think in different way
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I don't think that will happen, fiat money is really real money, every country would need fiat money to trade in the real world, not the digital world.
Cryptocurrency is only used in digital world. Fiat money can be used in the real world and digital world, that means fiat money is more valuable than digital money / cryptocurrency.
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I do get scared if it will replace unless online thief scammer or corruptions cease to exist. Personally I like to have both kept going.
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Autonomous power sources - batteries or accumulators - will solve the problem. Or energy generators.
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Before bitcoin and others cryptocurrency, lives alive... Then if bitcoin and Cryptocurrencies absence lives also alive...
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yes but it's best to have other ways to allocate the funds. so every new payment system with effective technology are most appreciable. We don't want monopoly system
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Every thing in life is all about steps and i don't think bitcoin we function without blockchain technology, on like other alt-coin in the community, hence a tree can not be a forest, take note of that. We are now the era of technology, we every information move fast as soon as possible. Like wise other means of money transfer from one nation to another. Therefore, we have already adapt the system by making use of Fiat money transaction.
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We have the will and the ability to adapt to the ever changing world. If we have dealt before, we can and will deal with new one.
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We have the will and the ability to adapt to the ever changing world. If we have dealt before, we can and will deal with new one.
Are you sure? I dont think it is quite related to what the OP mentioned here. Stop nonsense response if youre message would be only like this
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Lives without fiat money is impossible within a moment or passing a single day. Every nations, country has permit a fiat currencies and with its fiat they control their whole economic systems.
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I do not think that the world will refuse paper money, at least in the short term. Many regions are still on the verge of poverty, the climate is changing, natural disasters are increasingly occurring. In order to be able to refuse paper money and switch to non-cash types of payments, in ordinary currency and cryptocurrency, a high level of development of civilization is necessary, and above all, a high level of income of citizens. Only some highly developed states can try to do this, but I do not see this as a significant need.
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yeah absolutly we can"t live without fiat money, the value of cryptocurrency is depend on fiat money
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In cаse thаt there аre sоme trоubles with аn аccess (links dоn't wоrk), yоu mаy lie in wаit аnd check fоr Deeрweb mаrketрlаces аlternаtive URL. Keeр trying, аs а severаl аmоunt оf the mаrkets mаy stор аnd lаunch registrаtiоns frequently, bаsed оn server lоаd.
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I understand your concern. but it is possible to have remote access to digital currencies, you need to create special media that display your balance. they are independent of the common power network. and may allow payments. but I didn’t hear that something like that was created. this is the future
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I didn't think that this is happen because without fait money people's are shift on digital currency like Crypto.
This ia is really look likes impossible and never happen :)
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it's impossible to live without fiat. we know that payments using crypto many countries reject it. We shop always using fiat. What will happen without fiat ?? no life, I think.
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I think that if this happens-it will be very not soon and when it happens - [snip]
I'm a cryptocurrency enthusiast but i dont see that happe because we also need to think about the people in the rural area where theres no internet and we also need to put into consideration the hacker attack. Therefore, we will need both crypto and fiat currency in the future and it will nice if all the governments legalize crypto.
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As in the past when people used stones, fur etc as money)
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interesting thread, and I am happy that nothing like this will happen
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I thought it was quite impossible if bitcoin in use throughout the world for payment and replaces the worldwide fiat money will be adverse consequences for it all will depend on the currency is not real. in case of a disaster that someday people will bother to use digital currency bitcoin them that it is quite difficult to be a currency bitcoin replace fiat money in all countries.
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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.
These are really serious risks. The higher the technological standard of living of people, the more fragile such a world becomes. Any catastrophe in which electricity will disappear for a long time will actually paralyze financial activities if humanity switches to digital and other non-cash payments.
Therefore, it is better to leave cash for insurance.