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Author Topic: Fiat Money is a Bubble  (Read 1547 times)
Kevondo
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November 03, 2019, 09:25:55 AM
 #121

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Of course fiat money is a bubble and it is bound to burst as well. We cannot just fullfil recent experienced to future. We cannot as well assure that the government have the potential to maintain the economic resources while producing loads of money and besides it will run dry in the end as the payments, funds and transactions has to be made digitally.
After the invention of bitcoin and altcoins, fiat is destined to die in the future. We are living in a world where technology is making progress by leaps and bounds. Upcoming generations are more interested in performing all sorts of tasks with digital tools. Digital currencies are the future of money and bitcoin will remain the king of them all. Governments will introduce their own crypto coins.

 
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November 03, 2019, 03:09:37 PM
 #122

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Of course fiat money is a bubble and it is bound to burst as well. We cannot just fullfil recent experienced to future. We cannot as well assure that the government have the potential to maintain the economic resources while producing loads of money and besides it will run dry in the end as the payments, funds and transactions has to be made digitally.
After the invention of bitcoin and altcoins, fiat is destined to die in the future. We are living in a world where technology is making progress by leaps and bounds. Upcoming generations are more interested in performing all sorts of tasks with digital tools. Digital currencies are the future of money and bitcoin will remain the king of them all. Governments will introduce their own crypto coins.

We are not 100% sure about that,  but a lot of influencers and successful business men such as Ellon Musk says fiat is going to disappear in the future (though there is no specific date) about it. Technology is evolving, very fast, many inventions are being made every single day across the globe and digital money as a currency worldwide is not a blur vision anymore, we could grab it anytime soon.

 
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November 03, 2019, 03:32:07 PM
 #123

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Of course fiat money is a bubble and it is bound to burst as well. We cannot just fullfil recent experienced to future. We cannot as well assure that the government have the potential to maintain the economic resources while producing loads of money and besides it will run dry in the end as the payments, funds and transactions has to be made digitally.
After the invention of bitcoin and altcoins, fiat is destined to die in the future. We are living in a world where technology is making progress by leaps and bounds. Upcoming generations are more interested in performing all sorts of tasks with digital tools. Digital currencies are the future of money and bitcoin will remain the king of them all. Governments will introduce their own crypto coins.

This is absolutely not a given. Crypto currencies still have many many challenges to overcome before they can challenge fiat currencies. Crypto is still in its infancy and is still very much an experiment.

The biggest problem that has yet to be solved IMO is scaling. At this moment there is no blockchain that can handle even 1/10th the transactions that VISA is doing. The technology just isn't there yet. And there is no certainty that it will ever get there. Maybe cryptocurrencies are at its core just flawed and outright can not be scaled up due to some limitation. If that is the case than it will never replace fiat currencies.

Then there is also the government. Governments will do everything in their power to stop their own currency from losing dominance, if they lose their money they lose their power, which is the last thing they want.

 
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November 04, 2019, 11:57:36 AM
 #124

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Of course fiat money is a bubble and it is bound to burst as well. We cannot just fullfil recent experienced to future. We cannot as well assure that the government have the potential to maintain the economic resources while producing loads of money and besides it will run dry in the end as the payments, funds and transactions has to be made digitally.
After the invention of bitcoin and altcoins, fiat is destined to die in the future. We are living in a world where technology is making progress by leaps and bounds. Upcoming generations are more interested in performing all sorts of tasks with digital tools. Digital currencies are the future of money and bitcoin will remain the king of them all. Governments will introduce their own crypto coins.

This is absolutely not a given. Crypto currencies still have many many challenges to overcome before they can challenge fiat currencies. Crypto is still in its infancy and is still very much an experiment.

The biggest problem that has yet to be solved IMO is scaling. At this moment there is no blockchain that can handle even 1/10th the transactions that VISA is doing. The technology just isn't there yet. And there is no certainty that it will ever get there. Maybe cryptocurrencies are at its core just flawed and outright can not be scaled up due to some limitation. If that is the case than it will never replace fiat currencies.

Then there is also the government. Governments will do everything in their power to stop their own currency from losing dominance, if they lose their money they lose their power, which is the last thing they want.
If crypto currencies have been able to overcome the challenges of past then they can beat any sort of hurdle placed in their way. With bitcoin as their leader, crypto currencies really do not need to worry about anything. Blockchain is still too young but the idea is amazing and VISA cannot give us the same security. All the governments will turn towards crypto currencies once China will launch its digital coin.

 
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November 04, 2019, 01:22:21 PM
 #125

If crypto currencies have been able to overcome the challenges of past then they can beat any sort of hurdle placed in their way. With bitcoin as their leader, crypto currencies really do not need to worry about anything. Blockchain is still too young but the idea is amazing and VISA cannot give us the same security. All the governments will turn towards crypto currencies once China will launch its digital coin.

That's not how it works though. You can not predict the future based on passed data. Inductive reasoning doesn't always work. Technologies have inherent limitations, saying crypto will overcome challenges because it was able to do so in the past is simply false. That's like saying the sun will keep burning forever because it has always done so in the past, but that is not true, one day the sun will stop burning.

There's a good chance that crypto will overcome its problems and I believe that it will, but there is no way to know that and anyone claiming otherwise without showing proof is lying.

 
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November 04, 2019, 09:50:24 PM
 #126

Yeah, fiat money really a bubble and one of the disadvantage it's inflation. You can collect a lot of money but is it have a sense if by twenty years your money will lose a half of value on this money. So, you must know it and not only collect money but also invest and generate more and more money that inflation can't "eat" your money.

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November 05, 2019, 04:36:51 PM
 #127

If crypto currencies have been able to overcome the challenges of past then they can beat any sort of hurdle placed in their way. With bitcoin as their leader, crypto currencies really do not need to worry about anything. Blockchain is still too young but the idea is amazing and VISA cannot give us the same security. All the governments will turn towards crypto currencies once China will launch its digital coin.

That's not how it works though. You can not predict the future based on passed data. Inductive reasoning doesn't always work. Technologies have inherent limitations, saying crypto will overcome challenges because it was able to do so in the past is simply false. That's like saying the sun will keep burning forever because it has always done so in the past, but that is not true, one day the sun will stop burning.

There's a good chance that crypto will overcome its problems and I believe that it will, but there is no way to know that and anyone claiming otherwise without showing proof is lying.
The future predictions in such cases do depend on the past performance of something. Bitcoin is not like gambling where the outcomes are unpredictable in every shot. It has proved its strength. Sun wont burn forever neither is this world predicted to stay forever as per scientists but as long as our planet will exits, bitcoin will exits too. We are moving towards an era of pure technology, digital currencies and blockchain will take place of fiat.

 
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November 05, 2019, 05:39:16 PM
 #128

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Fiat money have positive value without inflation, using cash money only available for one year later with the same value but with crypto as currency you can increase higher value after one year late, bitcoin never have inflation way to make their bitcoin value down like cash or fiat currency payment, they always to give negative information with bitcoin become bubble currency for investors.

 
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November 05, 2019, 10:04:53 PM
 #129

Yeah, fiat money really a bubble and one of the disadvantage it's inflation. You can collect a lot of money but is it have a sense if by twenty years your money will lose a half of value on this money. So, you must know it and not only collect money but also invest and generate more and more money that inflation can't "eat" your money.
policy controls related to government investment can optimize the rate of inflation development, this will save many developed countries and some developing countries, but unfortunately not to other countries. The concept of fiat bubbles is not entirely true because there is socioeconomic control so it is not broken and is always monitored institutionally, and the concept is actually still very potential for bitcoin.

 
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November 05, 2019, 10:22:03 PM
 #130

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.

Don't forget that some fiat money is secured in gold and in gems. So it's not so easy to say it's a bubble.
However, everyone know that governments are still printing fiat money, and unfortunately this is very dangerous for the global economy.

 
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November 05, 2019, 10:42:23 PM
 #131

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.

Don't forget that some fiat money is secured in gold and in gems. So it's not so easy to say it's a bubble.
However, everyone know that governments are still printing fiat money, and unfortunately this is very dangerous for the global economy.
I once found a country that was affected by inflation because the country printed its banknotes with a very large amount and was not controlled so as to make the country become devastated and the exchange rate was very severe, so in my opinion if more money was printed then it would make fiat money would affected by inflation.

 
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November 05, 2019, 10:54:15 PM
 #132

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.

Don't forget that some fiat money is secured in gold and in gems. So it's not so easy to say it's a bubble.
However, everyone know that governments are still printing fiat money, and unfortunately this is very dangerous for the global economy.
I once found a country that was affected by inflation because the country printed its banknotes with a very large amount and was not controlled so as to make the country become devastated and the exchange rate was very severe, so in my opinion if more money was printed then it would make fiat money would affected by inflation.

Basically yes, but of course it depends on how much money they print. Ecomomists know that printing money is possible (it is never safe for country's economy) when exports increase. Then printing money allows country to increase imports. Such behavior only theoretically increases the development of the country's economy. Because it increases the danger that when the export falls, the country will be with a surplus of money. This has happened recently in Argentina and made there huge inflation.

 
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November 06, 2019, 12:11:45 AM
 #133

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.

Don't forget that some fiat money is secured in gold and in gems. So it's not so easy to say it's a bubble.
However, everyone know that governments are still printing fiat money, and unfortunately this is very dangerous for the global economy.
I once found a country that was affected by inflation because the country printed its banknotes with a very large amount and was not controlled so as to make the country become devastated and the exchange rate was very severe, so in my opinion if more money was printed then it would make fiat money would affected by inflation.
That is how it works so that is why most of the countries are always careful when they are printing out their fiat currency because once they print more than enough then it will result to hyperinflation. As a citizen of a certain country and as I want to preserve my wealth, I always try to find some investments that can help me with that like having gold and bitcoin.

 
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November 06, 2019, 12:32:30 AM
 #134

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.

Don't forget that some fiat money is secured in gold and in gems. So it's not so easy to say it's a bubble.
However, everyone know that governments are still printing fiat money, and unfortunately this is very dangerous for the global economy.
I once found a country that was affected by inflation because the country printed its banknotes with a very large amount and was not controlled so as to make the country become devastated and the exchange rate was very severe, so in my opinion if more money was printed then it would make fiat money would affected by inflation.
Perhaps that country are no longer handled very well by the government. I believe that there is a law that applies to every country that certain money supply should be applied and if ever the money is being updated (changing its design and whatsoever), it'll need to dump and destroy the money being replaced so that they'll be able to create a new design for money which must have the same value as the previous one.

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November 06, 2019, 10:12:09 AM
 #135

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.

Don't forget that some fiat money is secured in gold and in gems. So it's not so easy to say it's a bubble.
However, everyone know that governments are still printing fiat money, and unfortunately this is very dangerous for the global economy.
I once found a country that was affected by inflation because the country printed its banknotes with a very large amount and was not controlled so as to make the country become devastated and the exchange rate was very severe, so in my opinion if more money was printed then it would make fiat money would affected by inflation.
Perhaps that country are no longer handled very well by the government. I believe that there is a law that applies to every country that certain money supply should be applied and if ever the money is being updated (changing its design and whatsoever), it'll need to dump and destroy the money being replaced so that they'll be able to create a new design for money which must have the same value as the previous one.

Of course, the change of the banknote's image or the exchange of damaged banknotes is strictly controlled. However, there are countries that do not worry too much about the amount of money they print - of course I am thinking about the USA. Unfortunately, but the US dollar is the guiding currency of the world and if the US prints dollars, the rest of the world must also print money to be able to match the level. And this is the bubble we should be afraid of.

 
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November 06, 2019, 10:23:53 AM
 #136


Of course, the change of the banknote's image or the exchange of damaged banknotes is strictly controlled. However, there are countries that do not worry too much about the amount of money they print - of course I am thinking about the USA. Unfortunately, but the US dollar is the guiding currency of the world and if the US prints dollars, the rest of the world must also print money to be able to match the level. And this is the bubble we should be afraid of.

Unless the Chinese government will make its own country self sufficient and not export-oriented, then they can say "check". But this will make the infamous Black Thursday a child game.

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November 06, 2019, 10:31:19 AM
 #137


Of course, the change of the banknote's image or the exchange of damaged banknotes is strictly controlled. However, there are countries that do not worry too much about the amount of money they print - of course I am thinking about the USA. Unfortunately, but the US dollar is the guiding currency of the world and if the US prints dollars, the rest of the world must also print money to be able to match the level. And this is the bubble we should be afraid of.

Unless the Chinese government will make its own country self sufficient and not export-oriented, then they can say "check". But this will make the infamous Black Thursday a child game.

Right at the point! In my opinion, this is the biggest economic problem that is being created right now. However, it also depends a lot on the European Union, and I think that the US is not afraid to create this money bubble just because it is certain that the EU will not take the side of the communist state. This is a very interesting but also dangerous political and economic situation for the world economy.

 
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November 06, 2019, 01:05:12 PM
 #138


Right at the point! In my opinion, this is the biggest economic problem that is being created right now. However, it also depends a lot on the European Union, and I think that the US is not afraid to create this money bubble just because it is certain that the EU will not take the side of the communist state. This is a very interesting but also dangerous political and economic situation for the world economy.

We will see how the situation will develop, because right now we are in a stale-mate, like during the cold war with risk of M.A.D. (Mutually Assured Destruction).

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November 06, 2019, 03:06:08 PM
 #139

Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Yes i agree with you because fiat money don't have any tangible value and are not backed by any physical store of value like gold thesedays which makes its value less but they are legal system supported by governmemts and without them there is no value of goods and services in global market.The worle operates only on the base of fiat money so its quite controversial.

 
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November 06, 2019, 04:55:53 PM
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 #140


Right at the point! In my opinion, this is the biggest economic problem that is being created right now. However, it also depends a lot on the European Union, and I think that the US is not afraid to create this money bubble just because it is certain that the EU will not take the side of the communist state. This is a very interesting but also dangerous political and economic situation for the world economy.

We will see how the situation will develop, because right now we are in a stale-mate, like during the cold war with risk of M.A.D. (Mutually Assured Destruction).

I have the same feeling that something is going on like the (economic) Cold War. Still, countries that have the largest army dictate economic conditions. That is why I said that if a fiat money bubble exists, it is created by the USA, because they have the largest army.
I don't think anyone would ever want to check it out, but it is in a way keeping the rest of the world in check.


 
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