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Author Topic: Getting Rid of Fiat Money  (Read 7560 times)

Offline Noverteno

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Re: Getting Rid of Fiat Money
« Reply #15 on: December 31, 2021, 09:28:54 AM »
People are creatures that live in society. At first it was a herd, but now it is a more complex social superstructure called the state, on behalf of which the government acts. We need such a social structure, because without it, without establishing general rules of behavior, any strong would allow himself to take away the property of the weak. In order not to carry with him sometimes heavy objects and values ​​that played the role of money, a person invented paper money that began to replace them. As a general rule, paper money should be printed as much as material values ​​exist in the circulation of the state. That is, cashless and cash are closely related to the economy of each state.
Cryptocurrency is a completely different type of financial asset, which cannot fully replace the state's money. Under certain conditions, paper money of the state can be replaced by non-cash money of this state.

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Re: Getting Rid of Fiat Money
« Reply #15 on: December 31, 2021, 09:28:54 AM »

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Offline KaliLinux

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Re: Getting Rid of Fiat Money
« Reply #16 on: December 31, 2021, 10:32:18 AM »
I think that replacing fiat money will be very difficult, so this will not happen soon. And in less developed countries it won't come to that at all.

You're right. To completely move away from fiat money, we need stable and uninterrupted Internet access around the globe, and that is not feasible right now. Fiat money will stay with us for a very long time.
Even with fully accessible uninterrupted internet there will still be Fiat money and will still be most countries' legal tender. Even most of the youths or Cryptocurrency enthusiasts now that are calling for this, trust if they happen to find themselves in the Government, they to will change their tone after understanding why that cannot happen.

NB: I am all for cryptocurrency too.

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Re: Getting Rid of Fiat Money
« Reply #17 on: December 31, 2021, 12:06:00 PM »
Fiat money will remain and will be the main payment system around the world. Maybe someday the day will come when there will be no cash at all, but this day will not come soon. Cryptocurrency is like an auxiliary element for transactions and transfers.
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Re: Getting Rid of Fiat Money
« Reply #18 on: February 19, 2022, 05:36:35 PM »
Fiat money will remain and will be the main payment system around the world. Maybe someday the day will come when there will be no cash at all, but this day will not come soon. Cryptocurrency is like an auxiliary element for transactions and transfers.
I am completely sure that as long as there are different states, their money will also exist. The fiat currency of states, in fact, is part of the sovereignty of the state, it protects its economy from outside influence. Fiat may change forms, but it will always be. The volume of cash may fall over time and their non-cash forms of payment are used more. It's just the influence of time and new technologies. Cryptocurrency can exist in parallel with fiat, but with the leading role of fiat money.

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Re: Getting Rid of Fiat Money
« Reply #19 on: February 20, 2022, 05:03:22 AM »
Fiat money will remain and will be the main payment system around the world. Maybe someday the day will come when there will be no cash at all, but this day will not come soon. Cryptocurrency is like an auxiliary element for transactions and transfers.

Fiat money will exist, will go ahead together with digital currency.
But I think at the digital era, banks will allow and adopt digital currency.
As you said, It won't happen now or the next few years
But It will happen at the coming years.
I believe digital era will come. Let's see brother.

Offline pelana vreo

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Re: Getting Rid of Fiat Money
« Reply #20 on: February 21, 2022, 06:34:06 AM »
Fiat has paper money and Debit card options for payment, crypto has many products for payment for example PundiX, Freecoin and many more, technology is currently developing rapidly, Fiat / paper money seems to be no longer used if some governments implement rules for electronic payment methods like debit cards.
I hope that in the future all payments can use fiat, crypto and other things, because there are still many countries that do not have internet access in villages and the people there only have Fiat because there is no internet access

Offline Lanirex

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Re: Getting Rid of Fiat Money
« Reply #21 on: February 23, 2022, 09:42:23 AM »
Fiat money will remain and will be the main payment system around the world. Maybe someday the day will come when there will be no cash at all, but this day will not come soon. Cryptocurrency is like an auxiliary element for transactions and transfers.
I agree with you, although many of these Crypto communities say Fiat will be destroyed and will be replaced by Bitcoin/Cryptocurrency. 
It will be difficult to happen, Fiat is a legal means of payment, easy to use, Stable value unlike Crypto whose fluctuations are very high. 
Bitcoin exists actually only as a tool, namely a tool to find more Fiat.  Because with Bitcoin, we can easily get profit.

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Re: Getting Rid of Fiat Money
« Reply #21 on: February 23, 2022, 09:42:23 AM »


Offline de_prof

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Re: Getting Rid of Fiat Money
« Reply #22 on: February 23, 2022, 09:48:46 AM »
Crypto currency will not be able to get rid of fiat currency, because fiat money is a payment instrument issued by the official government in a country that is centralized and its position cannot be erased

That's true fiat will alway be payment instruments that the government allowed.
I also believe crypto will never get rid fiat money.
I think both will have own way. they are two different thing.

Offline Senin

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Re: Getting Rid of Fiat Money
« Reply #23 on: February 23, 2022, 01:43:56 PM »
Fiat money will never disappear. As long as states exist, their fiat money will also exist. They can only acquire and change their form, but not their essence. Cryptocurrency is completely different in essence. Therefore, fiat money and cryptocurrency are not interchangeable and cannot displace each other. But they may well coexist.

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Re: Getting Rid of Fiat Money
« Reply #24 on: February 23, 2022, 04:12:32 PM »
So far, fiat money is still needed because too few people know about cryptocurrencies or other virtual currencies, because in order to get rid of fiat money altogether and switch to cryptocurrencies, for example, it is necessary that all people must know how to use cryptocurrencies, but unfortunately this will be not so near and it takes time for the whole world to learn how to use cryptocurrencies, so for now we need fiat money.
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Offline Bliznec

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Re: Getting Rid of Fiat Money
« Reply #25 on: February 23, 2022, 04:51:14 PM »
So far, fiat money is still needed because too few people know about cryptocurrencies or other virtual currencies, because in order to get rid of fiat money altogether and switch to cryptocurrencies, for example, it is necessary that all people must know how to use cryptocurrencies, but unfortunately this will be not so near and it takes time for the whole world to learn how to use cryptocurrencies, so for now we need fiat money.
Fiat funds will not disappear in the next century? I don’t think, because the digital ruble, digital cryptocurrencies are already a means of exchange that can be used today. This decentralization has come quite recently, thus the reach of the audience is increasing.

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Re: Getting Rid of Fiat Money
« Reply #26 on: February 23, 2022, 05:05:52 PM »
So far, fiat money is still needed because too few people know about cryptocurrencies or other virtual currencies, because in order to get rid of fiat money altogether and switch to cryptocurrencies, for example, it is necessary that all people must know how to use cryptocurrencies, but unfortunately this will be not so near and it takes time for the whole world to learn how to use cryptocurrencies, so for now we need fiat money.

Digital currency needs internet connection, There are still many place without internet connection.
So I think crypto will never get rid of fiat money.
it will take several years again.
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Offline nakmantu99

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Re: Getting Rid of Fiat Money
« Reply #27 on: February 23, 2022, 07:01:54 PM »

Digital currency needs internet connection, There are still many place without internet connection.
So I think crypto will never get rid of fiat money.
it will take several years again.

Yeah, current problem for digital currency is internet connection,
But anything can happen at the coming future, Maybe crypto will get rid of fiat money.
But let's see the crypto progress at the next three years again.
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Offline rizqillah

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Re: Getting Rid of Fiat Money
« Reply #28 on: February 23, 2022, 07:31:54 PM »

Digital currency needs internet connection, There are still many place without internet connection.
So I think crypto will never get rid of fiat money.
it will take several years again.

Yeah, current problem for digital currency is internet connection,
But anything can happen at the coming future, Maybe crypto will get rid of fiat money.
But let's see the crypto progress at the next three years again.

When digital era comes, I think everything will be use digital.
So digital currency will get rid of fiat money, except fiat money will improve and adopt digital technology and will be used there.
We as crypto enthusiasm, will see crypto currency more popular and will more be needed there.
But It's just prediction about digital era.

Offline pacar_tiri

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Re: Getting Rid of Fiat Money
« Reply #29 on: February 25, 2022, 10:15:21 AM »

When digital era comes, I think everything will be use digital.
So digital currency will get rid of fiat money, except fiat money will improve and adopt digital technology and will be used there.
We as crypto enthusiasm, will see crypto currency more popular and will more be needed there.
But It's just prediction about digital era.

Yeah, I think If digital era comes, it will get rid of fiat money
Maybe several people don't not agree with my opinion.
But I believe crypto currency will replace fiat money at the coming future.
Crypto is the future currency, at digital era we will see paperless.
So Fiat money will be replaced.

 

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