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Author Topic: Will governments create their own cryptocurrency that will replace fiat?  (Read 39084 times)
jonaire99
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April 25, 2019, 11:29:37 PM
 #461

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

Many transactions today that uses fiat is already in digital and this is widely used particularly in all wealthy countries. If these government find a valid reason to create their own cryptocurrencies in the future, then they will make it. And if they do, the governments will likely create a cryptocurrency that is similar to their national currencies like cryptodollar, cryptoyen or cryptoeuro and these are all going to be centralized like their fiats.

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April 26, 2019, 11:42:07 AM
 #462

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
first of all this type of situation is not happening in any country and they don't need the changes to be happen in their own country currency so I definitely know they will not take any chances to make new currencies like a Crypto currency and it will not possible also in this situation.

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April 26, 2019, 12:11:11 PM
 #463

In my opinion it is not possible because they have stable currency from a long period of time so they cannot take the chance again to create something and make a replacement for the previous thing because it will always like the difficult thing to do again so I think it's not possible.

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April 26, 2019, 12:50:23 PM
 #464

In my opinion it is not possible because they have stable currency from a long period of time so they cannot take the chance again to create something and make a replacement for the previous thing because it will always like the difficult thing to do again so I think it's not possible.

Why wouldn't be possible for governments to make their own cryptocurrencies? The idea is not to replace national currencies and that will not happen but governments can create this as an alternative currency that might or might not be included in financial system in some other way. I think that people generaly have the wrong idea that cryptocurrencies should replace fiat

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April 26, 2019, 01:14:33 PM
 #465

I dont think government will do such things like this,but if they really push this move forward i think it will not replace fiat but isntead stand along with fiat,they will not make people support just one asset but to force people to suppor 2 asset powered by the government

 
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April 26, 2019, 01:48:21 PM
 #466

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
I think the possibilities are very less in this situation because we can make the changes only through the normal currency in the mindset of government so they don't take the chances
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April 26, 2019, 02:07:11 PM
 #467

In 100 years yes maybe will happen, and i think most of governments will create own crypto and will make with unlimited supply so when they need to place more money on market will happen and i think that crypto issued by governments will not be like this crypto today.
- Well, maybe in the near future, government can create their own cryptocurrency when this seems like a trend, a field that can be very suitable for modern society but this development is only to meet everyone's needs, in accordance with the development process, it will not replace Fiat. Because fiat is a very useful and convenient tool for life, we can see the change of fiat from many years, many changes, from shape to size but it's still very stable and sustainable over time, people still like to use it, modern technology sometimes cannot be compared with tradition




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April 26, 2019, 03:30:59 PM
 #468

I think Government will not create their own crypto currency  that will replace fiat even after a 100 years. Because government has already a fiat currency ever since which is stable and strongest currency that always used in our everyday transactions,for buying and exchange of goods and services. There is no reason to replace it and fiat currency is well known by all people even little children's than a crypto currency. Also I believe banks will make an appeal to the government if fiat will replace by crypto currency.
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April 26, 2019, 03:36:26 PM
 #469

It is difficult to predict considering that until now, since fiat was created as a legitimate transaction tool, Fiat could not be replaced by cryptocurrency. It could be that gold will be more valuable later I guess. But at least what makes crypto will grow even more is Blockchain technology which has begun to be applied in the real world. Well, however, its nothing impossible.

 
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April 27, 2019, 03:25:06 AM
 #470

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
That maybe happen, when people start to think that fiat money system is inappropriate for thr world economy then maybe government will support cryptocurrency more. But government will still more focus on hoarding gold. Gold is special because since long time ago the price still rice and there is no inflation on it.
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April 27, 2019, 04:15:53 AM
 #471

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
That maybe happen, when people start to think that fiat money system is inappropriate for thr world economy then maybe government will support cryptocurrency more. But government will still more focus on hoarding gold. Gold is special because since long time ago the price still rice and there is no inflation on it.
different from my view, I think fiat cannot be replaced. we know with cryptocurrency, the government cannot control it, unlike fiat, which uses a centralized system. I think the government uses its own crypton to keep up with the development of developed countries

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April 27, 2019, 12:59:14 PM
 #472

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
That maybe happen, when people start to think that fiat money system is inappropriate for thr world economy then maybe government will support cryptocurrency more. But government will still more focus on hoarding gold. Gold is special because since long time ago the price still rice and there is no inflation on it.
different from my view, I think fiat cannot be replaced. we know with cryptocurrency, the government cannot control it, unlike fiat, which uses a centralized system. I think the government uses its own crypton to keep up with the development of developed countries
Yeah as long as you wait, 100 years or more, fiat will never be replaced. technology can continue to advance and make the digital currency or virtual currency increasingly used. but fiat will continue to be used by the government, and currently there are lots of digital currency that been create by fiat (another version) right ?
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April 27, 2019, 02:31:38 PM
 #473

In principle, Fiat has long been replaced by plastic cards, which we use more often than Fiat. Therefore, cryptocurrencies are replacing plastic cards and Internet banking. Governments will create their digital currencies in the near future, for example Christine Lagarde has ordered central banks to develop their digital currencies. I assume that these currencies will be stablecoin, tied to the price of the national currencies of the countries by which they are created. They will also be centralized and fully controlled, this is probably a prerequisite.

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April 27, 2019, 05:39:23 PM
 #474

Some governments already tried this but none of them worked in the way they wanted.

IMO it is not possible for a government to create their own cryptos to replace the decentralized system all they can to is make it as restricted currency but still its just a word it can't be banned practically.

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April 27, 2019, 06:20:18 PM
 #475

No it will not possible because the government will not ready to take the chances of changing the economy because the normal country currency is always been useful for them in all kind of ways to manage their economy in the world so I think it will not be considered by them in this today situation.

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May 04, 2019, 06:21:50 PM
 #476

Government may create their own cryptocurrency but they cant replace fiat by the cryptocurrency and also few government may create crypto fast but maximum will/may try to use slowly.



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May 04, 2019, 11:34:05 PM
 #477

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

I think some governments will do it, probably not as good as Bitcoin, since lacking the knowledge of Austrian economics, they do not understand deflationary currencies. They might do them inflationary (infinite), and too centralized which would make them rather weak from a security standpoint.

Bitcoin is closer to gold than "today's money" (fiat). Simply because "today's money" is infinite, gold isn't.

Now matter how i see it, deflationary coins need the Austrian school ideas. If a State adopts this school, deflationary will work. This country will shine be a lighthouse in a sea of darkness, and then, only then might the others follow.

What do you think? Will you trade quick bubbles and crashes with slow but steady growth based on true accumulation of capital? This is what they should be asking themselves, should they even learn that such thing is actually possible in the first place...

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May 05, 2019, 04:08:17 AM
 #478

Some governments will be able to issue their own centralized cryptocurrency, which is likely to be equated with national money, and therefore will be in the format of stable coins. They will complement the capabilities of each other and walk in the state in parallel. The national cryptocurrency will not crowd out the cash or non-cash money of this state. States will never give up their national money, because it will undermine their economy. Cryptocurrency will always play a secondary role in each state compared to national money.

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May 05, 2019, 08:16:12 AM
 #479

No, I do not think the right word to be used is replace but it should an option. Fiat money has been useful and this is why it has been long use since the old days began trading using fiat.

The government can make their own crypto and this will not going to replace fiat but then it could be added as a secondary money or alternative to fiat money.

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May 05, 2019, 08:18:53 AM
 #480

They should of already did it, but greed blinds them.
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