Fiat Currency Always Fails

[Lexurdania]

Fiat money or paper money always creating time bomb and its economic crisis. Paper money always printed and the reason is economic growth but its increasing inflation. Paper money printed from thin air without proper back up and only trust from government

[efxtrader]

See:

There Is No Escaping History.  Fiat Currency Eventually Fails.

Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard.  Fiat money is a rare occurrence in modern history.  (We live in strange times!)  As we can see, the examples found by the author are a small number of short periods here and there.

I have my own critique of gold/silver standards, but that's another issue.

The problem is that now all the money issued by countries is fiat after the United States went out of the gold standard in 1971 which means that if the main fiat currency around the world the dollar were to collapse that could in theory collapse the entire economy of the world.

Indeed, after US Government not depending on Gold when print paper money/USD Dollar, purchasing power paper money always decreasing and its not safe to hold paper money for long term. Inflation make our money value decrease and crisis always coming on every country because dollar used by most country in world

[strideynet]

I think it is necessary to store the final resources, such as wheat, milk, animals, it is also a reliable asset

[waitforme]

Underestimate the FIAT and promote gold/silver as the measurement values ​of exchange make things worse. FIAT is one of the great inventions, and FIAT has failed economically because the country can not control the FIAT they created that made things upside down.

[BobK71]

I think it is necessary to store the final resources, such as wheat, milk, animals, it is also a reliable asset

I understand your reason for this, and a lot of people think this way.  The problem, though, is that these are not good stores of value as they require maintenance, and will go bad after a while.  Also, the supply and demand of these things have been distorted by the greater economy, driven by fiat money.  (E.g. people think they are rich, from central bank money creation, so they buy more wheat and waste it.  So you're buying over-priced wheat when you invest in it.  When the financial crisis comes, wheat prices might collapse.)

[squog]

Sell it is a cycle but it always begins and ends with Fiat. Basically Fiat is a trust. A trust that the piece of cloth or minted coin you have in ypur pocket does actually have value dictated by the governing body on finance. They can tell you that you can buy more now than yesterday then laugh at your face. crypto currency is the future.

[MAJICOIN]

Like i have used fiat for many transactions and fiat is also necessary for life because crypto can not be use for every thing and fiat is using for the lives from the begging so it is true that bitcoin is also important but we can not ignore the fiat as well and through fiat we can enter into the crypto world for investments.

[Opnsrc]

Fiat money or paper money always creating time bomb and its economic crisis. Paper money always printed and the reason is economic growth but its increasing inflation. Paper money printed from thin air without proper back up and only trust from government

However, you should agree that people are not yet ready to change all of the paper money they have in the cryptocurrencies. The mankind will use fiat for centuries more, even despite the inflation.

[Faeton]

I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.

I do not know what planet you are on, but if you go out and ask passers-by about cryptocurrency and their choice between cryptocurrency and regular money, more than half of them will say that they only heard about cryptocurrency, but they never used it, and those who faced it, will give very conflicting opinions.
Let's consider the situation if you want to buy something on the street with your hands or even in a small outlet. You need to constantly wear any technical device, such as a laptop or a smartphone with the received Internet. Carrying out transactions takes quite a long time, there may also arise along the way a number of technical issues. However, the most important thing is safety.  When they steal from you a smartphone, you will immediately have a lot of very intractable problems - a SIM card, electronic card, various secret addresses and access codes, and so on. You will not carry a piece of paper with you and manually enter private keys and other codes, they will most likely be in your smartphone. There are just a lot of problems. And here you just take out the cash money - and no problems. Everything is fast and clear. The cash money are stolen from the pocket of the bill, it does not matter, this is clearly not your last. Beauty.

[resty]

See:

There Is No Escaping History.  Fiat Currency Eventually Fails.

Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard.  Fiat money is a rare occurrence in modern history.  (We live in strange times!)  As we can see, the examples found by the author are a small number of short periods here and there.

I have my own critique of gold/silver standards, but that's another issue.

AS of this time since the hi-technology will strongly operated start year 2000 until now the status of fiat currency is almost backup or for short term uses because the main uses now is in digital system process like deposit in big amount through digital process how much more if bitcoin is going to top of currency much more quickly and convenient for any body.

[syamster]

Fiat money or paper money always creating time bomb and its economic crisis. Paper money always printed and the reason is economic growth but its increasing inflation. Paper money printed from thin air without proper back up and only trust from government

However, you should agree that people are not yet ready to change all of the paper money they have in the cryptocurrencies. The mankind will use fiat for centuries more, even despite the inflation.

You are right, fiat currency has its own advantages besides its disadvantages but if you look at each and every currency you will see both its advantages and disadvantages. Fiat replacing or conversion to Bitcoin is your investment and if you are not feeling comfortable with this long term investment you can keep fiat and can use it in any place. One thing is perfectly said here that fiat can cause extreme situations for government and this is due to its expenditure as well while digital money needs just investment.

[paulspider]

I like to save money in fiat currencies. When I got to know what cryptocurrencies will offer me, I tried to weigh the merits and demerits of all and I have concluded to save in fiat always.

[wingsthegreat21]

For me I don't think people have factored in the problem with not having enough money to meet the demands of the population.  The real problem is not what backs the money but who controls the quantity.  Also back in the late 1700s gold was fiat.  See currency act of 1764 and Stamp Act of 1765.  The American Colonies had no gold to begin with and the British banksters wrecked the colonial economy by forcing them to pay taxes in gold.   

[dlhezter]

Fiat money or paper money always creating time bomb and its economic crisis. Paper money always printed and the reason is economic growth but its increasing inflation. Paper money printed from thin air without proper back up and only trust from government

However, you should agree that people are not yet ready to change all of the paper money they have in the cryptocurrencies. The mankind will use fiat for centuries more, even despite the inflation.

You are right, fiat currency has its own advantages besides its disadvantages but if you look at each and every currency you will see both its advantages and disadvantages. Fiat replacing or conversion to Bitcoin is your investment and if you are not feeling comfortable with this long term investment you can keep fiat and can use it in any place. One thing is perfectly said here that fiat can cause extreme situations for government and this is due to its expenditure as well while digital money needs just investment.

I agree Fiat money is as strong at it is, It is true that there are some negativeness on the system but it actually works, But for me I prefer the new way of handling money and investments like crypto currency, We are on the age of Digital and technological era where we should know how to choose our way in the more profitable solutions for the future purposes of money transactions, Futuristic trading and other helping material for the economical growth of every country.

[BobK71]

The way I see it, there are 2 separate issues.

1. Is fiat money a good system? 
2. Is fiat money good for me?

We're mainly concerned with no. 1.

[PlusOne88]

I believe that this concern of failure of the fiat currency is a thing the government is always been monitoring for ages. I don't believe that these dollars doesn't have some basis. You can't just create fiat money without something backing it up or else certainly the economy would fall helpless and will crumble. How would anybody trust the value of paper without the assurance that the government being the owner doesn't have some back up value for it. And how can such a government stabilize the economy by printing a useless paper only?   So that I believe that something is backing up fiat and it is not just a paper money. It is similar to how cryptocurrency works because cryptocurrency is backed by fiat in the real world although others say they have some other things to back it up like gold, oil, etc..

[Elseye]

I'm not quite sure that we should judge fiat like that because thousands years of our history are closely tied to it.

[AlehandroTheGreat]

Yeah, cuz of inflation! Its easy , u know it.
Guys who can abuse paper money creating are doing it erryday and you are working for this shit erryday 
More money-less value for them 

[senin]

I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.

It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency.

[JohnBitCo]

I mean let's face it, it's easier to handle money electronically than with papers in the hand. And if we compare fiat on the bank account and the blockchain money guesses who have the advantage...well not quite yet, but the potential for the blockchain is huge.

It is not always more convenient to work with electronic money, although in some cases they are better than fiat. These two types of currencies have their advantages and disadvantages in use and will only go together. Cryptocurrency will never replace the national money of states. Cryptocurrency can not interact with the economy of the state, as national money does. In addition, the cryptocurrency has a high degree of volatility and, due to even these two reasons, it can never replace the usual currency.

Fiat currency has been there for more than a century and still it is working. You cannot call it a failure so easily and it will not be completely eliminated. Digital currencies are better and good but not everyone is at ease using them. Also you need technology to be able to use them unlike fiat which even an illiterate person can use easily.