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supercanada1
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October 15, 2017, 05:40:48 PM |
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At the moment I do not see any possibilities for fiat to be crashed, especially third world countries. In developed economies fiat currency most probably will keep losing its relevance due to crypto transactions, smart contracts, ICO's. But people will always be risk averse and diversify their wealth in crypto, assets and fiat. So at least our generation will most probably will not see fiat crashed.
You are saying the truth same here mate! I never heard about the bitcoin or the other coins getting crashed the people who are trying to use the bitcoin and they are having the huge profit. The possibility of the bitcoin is higher than the previous income. The price of the bitcoin is increasing so we cannot say that the crypto currency is getting down or it is going to be crashed and the importance of the bitcoin will be high in the future. |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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Harlot
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October 15, 2017, 05:54:49 PM |
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The only time a Fiat currency will crash is when there is a downfall of the economy of a country. Of course not entirely all of the Fiat currency but only that country's fiat currency. The value of a currency is a reflection of a country's economy so with that being said a country with a good economic standing has a low chance of its fiat currency crashing.
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MMS2017
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October 15, 2017, 05:55:25 PM |
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I don’t think so because as we know the importance of bitcoin is not ignored but to say it will replace the fiat it is difficult to replace as it has its own place and importance. Many people even don’t know bitcoin but they know fiat and if a person is illiterate how they can convince towards bitcoin. For several reasons fiat can’t be replaced the foremost is fiat has legal status in the country government any time accept that money.
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shadow404
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Activity: 66
Merit: 0
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October 15, 2017, 06:26:27 PM |
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I'm not sure fiat currency will fall if everyone uses digital currency and even the reverse price fiat currency will be more expensive if every day people use digital money as regular use to pay something
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thedarksun
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October 15, 2017, 07:26:50 PM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
There is no possibility that this would happen, because too many factors would have to match with each other, and yet it would not be achieved what you meant in this question. |
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BitcoinBallerina
Full Member
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Activity: 308
Merit: 100
Presale is live!
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October 15, 2017, 09:28:30 PM |
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Absolutely! That's why Bitcoin came about because fiat currency kept taking away from the people. Too much centralization is never good especially in money.
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Ultegra134
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October 15, 2017, 09:46:15 PM |
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The only time a Fiat currency will crash is when there is a downfall of the economy of a country. Of course not entirely all of the Fiat currency but only that country's fiat currency. The value of a currency is a reflection of a country's economy so with that being said a country with a good economic standing has a low chance of its fiat currency crashing.
It's possible in theory, but in practice, highly unlikely. Crashes can happen in Fiat currencies, more likely on weaker economies which have their own currency (Have a look at Zimbabwe) but it's impossible in major economies like USA's or Europe's. A minor crash could happen, even in major economies, but they are mostly temporary, in times of great distress. For instance, USD's value dropped over the Euro after the election of Trump, however, it was only temporary. |
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zeze18
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October 15, 2017, 09:48:48 PM |
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Absolutely! That's why Bitcoin came about because fiat currency kept taking away from the people. Too much centralization is never good especially in money.
In my opinion, fiat currency will still exist as an official payment transaction tool and will not be completely replaced by bitcoin functionality or legality, since not all bitcoin functions can be used for various payment transactions, for example for a certain time bitcoin can not be used. Like when the lack of internet connection and the absence of electricity surely bitcoin can not be used for transactions. |
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Cherylstar86
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October 15, 2017, 11:00:03 PM |
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Absolutely! That's why Bitcoin came about because fiat currency kept taking away from the people. Too much centralization is never good especially in money.
In my opinion, fiat currency will still exist as an official payment transaction tool and will not be completely replaced by bitcoin functionality or legality, since not all bitcoin functions can be used for various payment transactions, for example for a certain time bitcoin can not be used. Like when the lack of internet connection and the absence of electricity surely bitcoin can not be used for transactions. I agree with you on that mate. I see that internet is our main source of making income with bitcoin so if no internet connection,our life stops as well or the worse we go crazy about it and frustration. Fiat currency is too difficult to replace in the sense that we are using it for a very long time and we use it rotationally. If ever bitcoin will have a legal base maybe that is the time when bitcoin can be slowly change the fiat currency or they just collaborate from one another and that's not an issue at all. So it won't happen to crash. |
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Sebas.tian
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October 16, 2017, 02:27:11 AM |
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The possibility are non-existent as long as cryptos doesn't have the capability to do what fiat does i.e instant transactions, usability, and liquidity. I also don't think countries like the US would give up the use of fiat--which is backed by their economy, for a currency that is highly unstable and decentralized.
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Hallmader
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October 16, 2017, 02:38:55 AM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
That is simply the vision and speculation of Robert Kyosaki. But I agree with him. Time will really come when fiat will be totally replaced with cryptocurrencies. Crypto is the future of currencies because it is totally digital. The world will be using a version of money that would perfectly fit the social situation. |
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Bitcoincole
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October 16, 2017, 04:30:09 AM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
That is simply the vision and speculation of Robert Kyosaki. But I agree with him. Time will really come when fiat will be totally replaced with cryptocurrencies. Crypto is the future of currencies because it is totally digital. The world will be using a version of money that would perfectly fit the social situation. It is impossible to happen the fiat currency will crashed into digital currency because cryptocurreny is volatile they are not stable its value and how investors really invest into unstable investment. And one thing is for sure the government never support the cryptocurrency to replace national currency of the country. |
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kimpena
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October 16, 2017, 04:47:48 AM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
I don't think that it will happen, cause bitcoin cannot replace fiat currency in that way easily. Fiat currency is fiat currency for a very long time. It is not that easy as what others think of it. Bitcoin may take many years to become a currency, and maybe that will not come sooner. Digital currency is difficult to adapt, specially not all people living in the world knows the way digital currencies goes, how it really works. |
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Bagaji
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October 16, 2017, 04:48:34 AM
Last edit: October 16, 2017, 10:40:53 PM by Bagaji |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
Everyone is entitled to his or her opinion, Robert kyosaki is just making a speculation of what may happen and may not happen. As for me, I don't believe the speculation hold water for one to ponder on what will happen and what will be the implications on the people and the economy in general. There is up and down everywhere and not just fiat currency, crypto currency had their own shares some times ago and is bound to happen at any time to any currency both fiat and crypto currency. |
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meanwords
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October 16, 2017, 04:53:01 AM |
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Nope. As long as the government is involved in it, i'll be impossble to happen. Just because a person said doesn't mean i'll come true. We need to do our own reseach about things. That way we can avoid being fooled.
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jekjekman
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October 16, 2017, 05:04:19 AM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
What he is pertaining to is the value of fiat currency decreasing and might eventually crash. This is already happening right now decrease on the value of you money. What Robert is trying to teach people is to invest on other assets. Fiat is always being affected by inflation rates but other assets such as stocks shares, real states, precious metals/stone and many more are not affected by inflation rates. If you can buy a house today for $300,000 five years from today it is not that same price anymore, is not just because the value of the property appraised but also because your dollar today will not be as valuable as your dollar in five years. So will fiat crashed? Most probably yes it will have less and less value. |
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Sled
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October 16, 2017, 05:11:35 AM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
I don't think that it will happen, cause bitcoin cannot replace fiat currency in that way easily. Fiat currency is fiat currency for a very long time. It is not that easy as what others think of it. Bitcoin may take many years to become a currency, and maybe that will not come sooner. Digital currency is difficult to adapt, specially not all people living in the world knows the way digital currencies goes, how it really works. The cryptocurrency has a huge disadvantage and that is the unstable of the price or value unlike the fiat that they have the fixed value so the owner of the fiat is not worried for the possible thing to happen with their fiat because it is not like the bitcoin that anytime the price can crash. If you think that the fiat currency will crash then it is just a fantasy because the government will not allow that to happen. |
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v0rtecxz
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October 16, 2017, 05:35:37 AM |
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I do not think fiat currency will fall, fiat currency has been used for a very long time and has a great impact for the economy of a country, and fiat currency becomes an identity of the country and economic power of the country, besides all the many effects we can see of fiat currency, fiat currency has its own advantages easy to use without the need for access like the internet would be very helpful if you are in a place that does not have internet connection, and in my opinion no one can replace it and this currency will continue to survive for a long time
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michellee
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October 16, 2017, 05:47:13 AM |
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i think fiat currency can crash too but I don't think that government will let this happen because once fiat currency is crash then the country will be in chaos. the crashed of fiat can triggered for many bad things that might be happen and people will be in fear and there is nothing that people can do. but I think its small chance for fiat getting crash and government will do their best to prevent the crashing by doing many things so they will make sure that the economic of the country is not disturb.
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Bodywowoya
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October 16, 2017, 05:49:51 AM |
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I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
I believe that the collapse of Fiat is possible. in the case of prohibition in all and most countries of the world. But the financial sphere of the country is unlikely to catch, but the crypt will probably collapse full. In principle, everything goes to this, only time is unknown. |
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