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Author Topic: Crypto replacing fiat?  (Read 53415 times)
Polo7
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September 08, 2019, 11:13:25 AM
 #1241

I don't think so, that crypto can replace fiat because the original currency is fiat and many people used fiat ever since that's why it's difficult to happen.




Fiat currency comes from DEBT
Debt is liability, responsebility.

The Debt Gives value to Every dollar or Euro.


Now Let's Say we Don't have debt, and You are Federal reserv or Central bank, You need to provide your currency to People to use it.

So how u gona do that?
You print money, Right?  But how do You Know how much?  Let's Say the population in Country is
900.mil so will You print half like a 450.mil?
That means half People must be in absalout Poverty!! 
Right You print 800.mil. It means 100mil. People must be in absalout Poverty!

So You print exacly 900 mil. Or more  So then If Everybody Will have enough money or more then the money Will have no value!

Debt is Liability so the debt intrest Will make People to pay Back more then they Got... So Principal plus interest,  so People Will start fighting with other People in order to pay Back loan that what Gives value Now to Fiat!




Cryptocurrency... Is debt free, then it Can be Only with value When its less then People.

In this Case the cryptocurrency Can be Only currency in the World When are Only  rich and poor!

The Debt is Only factor what Will let Everybody to feel rich buy the things what they Can't afford.


If the cryptocurrency Will be world currency we Will have full communism Regime or Even totalitarism of fullest
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Semosuchi Tesongrato
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September 08, 2019, 10:47:28 PM
 #1242

This thread has been dragging on for more than a year, and it does not seem to me that there is an improvement in the situation, as far as the public's knowledge of the crypto world is concerned.
Until there is a more stable change, and above all the use procedures will not be simplified, bitcoin will not be able to replace anything.

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September 17, 2019, 01:09:39 PM
 #1243

I think that the currency that will create the state will not be transactions in the public domain only in certain bodies - a centralized currency because each account must be determined by a specific person. Decentralized currency is anonymous initially and everyone can create a wallet anonymously.

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