it is possible fiat currency will crashed?

[rocketbits]

if probably fiat currency would crash, its will soon also happening to cryptocurrency . the price of crypto currency was measured in currency. So if there's no value on fiat currency the crypto currency will also follow to become worthless. Maybe the fiat currency just the phisycal symbol of currency, but it's have a big affect to economy. I don't know the detail, but its true. It wasn't impossible to made the world become paperless with all become digital, but I thought we will not live that long to see that happen.

Cash is the main way to buy crypto currency and there is no possibility to the crash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at the wrong end and cash gives progress to the crypto.

[avp2306]

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.

How is that possible is? Do you think E-currency,crypto's or any revolutionary money can turn down fiat? Do you really think government can allow that? Since for me I can't see any instance or a cause on why would that happen. Fiat is a strong currency that government,businessman and ordinary people cannot let go with and maybe sometimes there is a crisis happens but fiat will became more stronger since it will be backed up by the law.

[BlueStackz]

It's possible. It has happened before. Google Zimbabwe Dollars. They had to abandon the currency because of severe inflation. Things like this is exceedingly rare though, to the point that majority of posters in this thread don't think it's possible.

Everything is possible and inflation of cash is near because bitcoin has revolutionize the world and now everyone is showing serious concerns about their native currencies because they want the eases of bitcoin and as the more people around the globe will start using this mighty coin the purpose of cash is wiped out and this will happen in near future.

[Siopao]

I don't think fiat currency will crash, most of the people is using the traditional way of exchanging goods and services by the use of fiat currency for its reliability/stability and can be used for immediate transaction.The economy of a country is also based on its own currency, if it falls down many business or maybe the whole economy of a country will be affected. The value of bitcoin is also volatile that the business world can't fully rely on it.

[Asuka]

I don't think this gonna happen, because all people use fiat, so what happen to our country if thats will be happen .

[Sled]

I don't think this gonna happen, because all people use fiat, so what happen to our country if thats will be happen .

The people are still using the fiat money because they didn't discover bitcoin yet and that is why the fiat currency is still dominating the whole world but if the cryptocurrencies will become popular enough to be used by almost majority of the population then a lot of people will use cryptocurrencies as a replacement for their fiat money in doing transaction and also for earning more money.

[denny27]

I don't think at all that fiat currency will be crashed, of course, each country government will greatly defend fiat currency.. impossible if not maintain the existence of fiat currency, let alone till be crashed. And although if bitcoin responded well by all governments in countries and can be legalized in countries, fiat currency will remain be able to using by peoples and continue alive forever I guess.

[nomad1109]

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

All fiat currencies won't crash. There are instances of fiat currencies that crash due to hyperinflation (like Venezuela and Zimbabwe at the moment), but this is not usual and is a product of an unstable financial system. For the entire fiat system to crash there would either have to be huge financial powers (like several major countries) moving away from it to bitcoin, or everyone would have to die. Pretty much.

[Choyor]

No, it is impossible if fiat currency will be extinct, because the role of fiat money is very important in all sectors of the global economy. as we know that there are still many traditional markets and stores where the local currency plays an important role there.

[ahmad21]

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

I have watched his full series. A part of my mind says he is absolutely correct and providing valid points. But then a part asks me then why are the top economists not concerned about it? May be bitcoin can be an amswer to such a crash dont know when such a crash is going to happen.

[Bluestreet]

No, it is impossible if fiat currency will be extinct, because the role of fiat money is very important in all sectors of the global economy. as we know that there are still many traditional markets and stores where the local currency plays an important role there.

It's not about all the fiat currencies crashing, there are some countries where due to hyperinflation the value of their currency is crashed like as that of Venezuela, Zimbabwe and also that Argentina is on the same steps.

[V I R U S]

Fiat currency cannot be crashed, no. I don't think so.

[Wa(t)ch_night()]

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

In the event of the collapse of Fiat, this will affect many, as the conditions for this are only one when the economy of a particular country and their national currency will be in deep inflation.

[FrueGreads]

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

If I understood you correctly, I'm note sure fiat currency crash is the right term for what you are saying. I don't think fiat can really crash, what can happen, and we are seeing it already in countries like Venezuela, is that the economy of a country can crash, and they get affected by inflation, and their currency loses value on the market. Corruption, wars, debt and many other things can be the cause for an economy to crash.

This is one of the beauties of crypto, since they are decentralized and are not tied to any single country/government, even if the economy of a country gets in trouble, it's citizens can return to bitcoin for safe heaven. That is also happening in Venezuela, and for me this is one of the reasons bitcoin is so important. Although people complain about it's volatility etc, it can actually provide stability to world economy.

[lordquanta]

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.

Fiat currency can crash. And it has crashed already in countries like Zimbabwe, Greece, Venezuela. To be specific the top countries where currency crashed are:
* Argentina
* Germany (after world war)
* Peru
* Chile
* Zimbabwe

Now you could see that there are instances of currency crashes in history. Currently there are some countries who are on blink of same. When finance dept of a country goes berserk, currency/economy crash is evident.
When currency of a country crashes prices of products and services sky-rockets. If you follow the news of greece and venezuela you will get the idea.

[kevpantof]

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

In the event of the collapse of Fiat, this will affect many, as the conditions for this are only one when the economy of a particular country and their national currency will be in deep inflation.

The event does not matte the bitcoin is increasing in the price and eh value of the bitcoin will be more than this I love to hold the bitcoin and get in the bitcoin for the profit from it, I use the bitcoin and it want to make the max amount of the income it very short time as a lot for the people like me are doing, it is the time of the increase for the bitcoin so we cannot say the bitcoin will be crashed ever.

[aencarnaci]

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.

How is that possible is? Do you think E-currency,crypto's or any revolutionary money can turn down fiat? Do you really think government can allow that? Since for me I can't see any instance or a cause on why would that happen. Fiat is a strong currency that government,businessman and ordinary people cannot let go with and maybe sometimes there is a crisis happens but fiat will became more stronger since it will be backed up by the law.

I do not agree with this that the fiat currency with crash down because of the bitcoin. May it possible in the far future but in this day and in the near future it is not possible, because fiat currency is used by almost all the people of a country and cryptocurrencies are still unrecognized currency for most of the people in the world.so in my opinion crashing fiat currency is not possible.

[ivrynx]

it is possible that fiat currency will crash, if we look back, great depression already happened, and this is still when paper notes are being backed up by gold, we could never tell when a next great depression will come. i think fiat will crash because of itself, that is due to inflation and a nation's debt, however in the case of bitcoin crashing fiat, it is highly doubtful, considering we only get the value of bitcoin, if we convert it to fiat, I think the two currencies are now related to each other. if we look back and see what had happened to gold, the after it was taken off of the gold standard, gold can still be used for payment, however, it valued using fiat currency currency and later on, only a few people invested in gold and turned to fiat currency, knowing that it will be the standard of payment, and if we look now, what is happening to bitcoin, we use fiat to value bitcoin, we do not say that 1 bitcoin is equivalent to a barrel of oil, we still use fiat in order to check the buying power of bitcoin whenever we want to convert it to fiat. and if fiat currency crashes and we used bitcoin as payment, i think it will take a long time for all of us to adapt, luckily we have countries like japan who are doing it now, using bitcoins and altcoins as mode of payment and possibly in the future be totally fiat free, since their banks are also using their own cryptocurrency, i think if japan could pull this off, the whole world might get rid of fiat and use cryptocurrencies instead, but for now fiat is still being used worldwide and we need to accept it, but in due time,fiat might crash due to high inflation, and people will then turn to bitcoin.

[leexhin]

I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?

It will crashed someday but not now, all cryptocurrencies is still young experimented and not stabilize to replace fiat.
If the fiat loose its back up then that i where bitcoin replace fiat.

[fiomcorka]

It's possible. It has happened before. Google Zimbabwe Dollars. They had to abandon the currency because of severe inflation. Things like this is exceedingly rare though, to the point that majority of posters in this thread don't think it's possible.

Everything is possible and inflation of cash is near because bitcoin has revolutionize the world and now everyone is showing serious concerns about their native currencies because they want the eases of bitcoin and as the more people around the globe will start using this mighty coin the purpose of cash is wiped out and this will happen in near future.

I do agree with you that there is only one reason can be possible to stop fiat currency and that is inflation, because inflation is the most danger thing for the economy of a country and mostly the third world countries face a very high inflation ratio just like my country.

Here the inflation rate is about 17 percent. If crypto is out is of this problem then all the people will start using crypto in place of fiat.