Fiat Currency Always Fails

[dowellness]

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.

Fiat is much different that bitcoins. Paper money is Centralized and usually control by governments. It will fail because  many government agents are  behind it. Where bitcoin is decentralized and its nature is increase.

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[JuneTaro]

To say that the currency is always losing, it seems a bit too, because cryptocurrency can not survive without paper money.

[moon sorcerers]

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.

basically fiat and crypto currencies have their own strengths and weaknesses, crypto currencies cannot replace fiat currencies, each country also has its own rules on currencies, so fiat and crypto currencies will be side by side without substituting each other

[YuiAckerman]

Why Fiat? As I can see cryptocurrencies are already failed most in the history too many scammers and hackers trying to breach the system or exchanges, fiat can trace I guess and hacking also are involved here.

[Harrisonimo]

If it has failed before, it was for a reason and a particular period of time. At the moment, the fiat is gained some grounds with the help of the USDT which has helped to maintain/regulate the bitcoin price and overall, the cryptocurrency markets.

[arnaudel98]

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.

I think failing or rising effect the economy. Like right now dollars is the global currency and with the increase or dollar rate world's economy fluctuate.

[Argoo]

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.

With the advent of cryptocurrency, its supporters very often declare that the cryptocurrency will replace the national money of the states. This statement is completely erroneous, since it contradicts the basic laws of economic development. The main reason why the cryptocurrency is not able to replace fiat with itself is that fiat interacts directly with the economy of the state, and the cryptocurrency can in no way be connected with the economy of any state. Therefore, the cryptocurrency can go in any state only simultaneously with the national money of this state.

[Bitfling]

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.

Fiat currency fails because central banks always flooding supply in market. Their reason always to sustain economic growth. It will increasing inflation and people asset reduced the value.

[celot]

Fiat currency link bitcoin and altcoin will be more success because it give more effect by investor to get profit with their bitcoin or altcoin asset investment, by using fiat as currency investor have stronger to hold and keep their asset will increase at the future time.

[demonz666]

the more printing fiat currency will cause inflation and fiat currency to decline in value. if this happens to the dollar then this will affect the world economy. and the ups and downs of fiat money are also influenced by the government's political conditions and negative issues. maybe because this is why satoshi created a decentralized bitcoin so that it wouldn't experience inflation. if the fiat currency situation gets worse maybe in the future cryptocurrency will replace it.

[Core.i7]

The using of fiat is decreasing. I seems that the future of currency will be crypto currencies.  People like to send and receive money with bitcoin because there's no tax applied

[creeps]

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.

Fiat money fails in something simply because of its regulating body and of course the status of the economy of every country that dictates the value of their fiat currency, but we cannot eliminate fiat money easily which is still offers a more convenient way to buy and sell goods locally.

the more printing fiat currency will cause inflation and fiat currency to decline in value. if this happens to the dollar then this will affect the world economy. and the ups and downs of fiat money are also influenced by the government's political conditions and negative issues. maybe because this is why satoshi created a decentralized bitcoin so that it wouldn't experience inflation. if the fiat currency situation gets worse maybe in the future cryptocurrency will replace it.

The future of cryptocurrency is there of course but I think it would be better if fiat money and cryptos will stay together and provide us a more convenient way to transact around the world, which is good for us of course so let's keep on supporting this two monetary system especially with cryptos.

[nasipadang]

I heard in Zimbabwe that the value of their fiat is very small, and the reason is because they print too much fiat but their country's economic situation is deteriorating. The failing fiat value depends on the country's economy, I'm not very good at the economy but for the past and present values are different because of inflation.

[Bonsaiav]

In fact fiat currencies are indeed a failed currency, also not immune to inflation and the existence of corrupt practices by officials. But what's our power, they / the government have propagated ourselves since our grandparents were just born, so that in its use it continues to take root and it seems impossible for the community, can be separated from it.

[BlueStackz]

Why Fiat? As I can see cryptocurrencies are already failed most in the history too many scammers and hackers trying to breach the system or exchanges, fiat can trace I guess and hacking also are involved here.

In the current era, particularly in developing countries, fiat is the most successful currency for it has a huge demand and is widely used as cash and to make instant transactions.

On the other hand, cryptocurrency is not a failure as well. In developed countries, it has been used as a medium of exchange and to save and store value. However the market is down right now due to many reasons but both the forms of money are of great use and importance.

[BigBos]

I heard in Zimbabwe that the value of their fiat is very small, and the reason is because they print too much fiat but their country's economic situation is deteriorating. The failing fiat value depends on the country's economy, I'm not very good at the economy but for the past and present values are different because of inflation.

well, in some fiat countries it has a pretty good role, but some don't. like Zimbabwe. well, basically the value of money will be measured by how well your country is managing it. as far as I know, every year, fiat always decreases.

[troajansprider]

Fiat is always needed for the economy and in everyday life. Sometimes using Fiat currency will be more convenient than crypto money.

[heleng05]

It really needs to our economy and our community most of people here in the world don't know how to use yet online currency and I think governments will not allow to change their current useful currency to replace a not legalized currency in any country.

[devinks]

It really needs to our economy and our community most of people here in the world don't know how to use yet online currency and I think governments will not allow to change their current useful currency to replace a not legalized currency in any country.

Fiat currency really needs to be used for the country because fiat currencies have become their daily needs as payments and transactions. of course these two currencies are useful in their respective fields, if digital currencies are useful in the digital world and if fiat currencies are useful in the real world.

[jatin729]

I don't think fiat currency always fail there are some misconceptions with countries like Venezuela, greece. but you can most world's countries are actually dependent on fiat currency as you know United States dollar is one of the dominant currency in the world. If we compare crypto with fiat than fiat will always win because of stable price.
crypto currency has seen drastic changes in its value from last 10 months. So is there any changes in Fiat currency nothing just some negligible changes.