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SkustaClee
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January 25, 2019, 08:59:43 AM |
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The fiat currency will still be needed in the future because it has important role in our economy. Do you ever think that the bankers will let the fiat currency to be destroyed? Of course they will not let it happen. The traditional payment system is important because people are got to used it.
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tisoysoy
Copper Member
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January 25, 2019, 09:31:45 AM |
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in the future, will there really be a need for fiat currency? Government can collect taxes in crypto, determine how to allocate it, and spend it in crypto. Ppl can receive salaries and do all commerce using crypto. Loans can be done in crypto. Fundraising can be in crypto. Sure, problems have to be worked out in terms of scalability, does it have to be completely decentralized, etc, the value has to become more stable. But theoretically, is there any reason to have fiat in the future?
It has been established that governments can now do taxation without representation by printing more money (which is a tax on everyone holding the currency), instead of trying to get a bill passed that allows it to increase the tax rate. With crypto this would be no more. All increased taxation would have to pass a vote.
From an economic standpoint, the idea that a country can stimulate its economy by adjusting interest rates is tenuous. There is just as strong an argument that lowering interest rates has caused speculation and bubbles, with calamitous results. In a crypto market economy, capital will flow from where it is needed less to where it is needed more.
For me even though how many years or decades will pass by, fiats will remain necessary to everyone for everyday used because cryptocurrency is just a form digital money which is can only performed in online transaction, without Internet it cannot able to used. So, fiat will remain standing no matter what. |
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reality18
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Earn more with Earn Network
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January 25, 2019, 10:13:33 AM |
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now you buy food, drinks, daily necessities and pay bills using fiat money and fiat currency is a measure of a country's economic strength. so, fiat currency is necessary, for our daily lives and our respective countries...
No one can vividly tell what the future holds in terms of means of payment although it is clear now that digital currencies is taking over. The Fiat is not all about the paper money, there are fiat stored on credit cards and smart cards and phones which also allow for online purchases. What makes the difference and creates uniqueness on the part of cryptocurrencies is the technology behind cryptocurrencies (Blockchain) which stores all verified transactions and makes it visible to all thereby ensuring transparency. |
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jonaire99
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January 28, 2019, 07:53:43 AM |
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The fiat currency will still be needed in the future because it has important role in our economy. Do you ever think that the bankers will let the fiat currency to be destroyed? Of course they will not let it happen. The traditional payment system is important because people are got to used it.
I believe also that the fiat will still be use in the future even in the so called cashless society. A national cyrrency can't easily replaced by a cryptocurrency bexahse that is one of the national symbol of every nation. Fiat in some advanced countries are already digitatized and you can a card and you don't have to withdraw any paper money in the bank to buy some products. Fiat can also converted into a digital currency if the government want to. |
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DAVETUN
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Bitcoin is the currency of this age
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January 30, 2019, 10:37:52 PM |
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Base on the cryptocurrency evolution, we are sure fiat will be extinct, thou this will take a while, but base on the cashless policy advocacy it is obvious CRYPTO is here as solution, We are in the digital world and every sector is taking an advantage of same.
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Glorious04
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January 30, 2019, 11:20:04 PM |
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well, each country has their own currency and I cannot see them switching to cryptocurrency as their national currency. if ever one country decides to have their own national cryptocurrency, well, I don't think they will replace the physical one. so as of the moment fiat and physical currencies are still in use and necessary.
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SnapDown22
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January 31, 2019, 09:34:34 AM |
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of course fiat is necessary. because fiat is more or less safer currency comparing with other alternative currencies such as crypto currencies. they are mostly backed by governments and also easy way to make payments.
Fiat currencies and crypto currencies have different properties and functions for now because in my country the difference is very noticeable because crypto currencies are still not yet fully inaugurated the possibility that if they can be used the function will be the same as possible in the future |
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BennyK
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January 31, 2019, 09:54:42 AM |
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Why not? The value of the Fiat of a certain country is the measure of the status of the economy of such country. This is what the governments draw power from because it is centralized. Cryptocurrency on the other hand is decentralized which makes it very difficult for a single body or institution to own absolute control over it.
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romero121
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January 31, 2019, 09:58:11 AM |
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Till the world comes to an end the need for currency will last forever. It isn't possible to make the entire population learn about the advancement in technology. Even now the percentage of population using debit and credit cards were very low. In this respect surely it isn't possible to have a world completely on technology. There is a need for physical currency forever.
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Moreira
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January 31, 2019, 10:02:59 AM |
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Since time memorial, fiat currencies are the basis of trade and making payment. the are the most convenient asset that allows all individual, from the poorest person to the richest. Without fiat currency most people can not conduct simple buy and sell. not to taught about pay for services and goods. As much as digital currency is revolutionizing the world, we can not say that fiat currency are now irrelevant.
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toast
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January 31, 2019, 10:08:03 AM |
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Most likely there will be digital payment options that from now on have been done a lot in online learning where these payment options can be made replacing new payments
if that is certain because the more time or years that are increasingly sophisticated the digital world, and many digital currencies that use for online purchases. but the paper currency still exists and is still in use |
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laredo7mm
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January 31, 2019, 10:35:40 AM |
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Gold. Paper Money . and also online payments will still be a payment in the coming era. even though we know today many companies have created online payments that are more practical for users and also safe
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babarian
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January 31, 2019, 03:22:50 PM |
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of course it will still be useful for some people in this world, not everyone can accept technological developments quickly, facilities, how to transact requires a very long time. maybe even digital currencies cannot be used as a whole by everyone in the world.
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zemper
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January 31, 2019, 04:11:29 PM |
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of course it will still be useful for some people in this world, not everyone can accept technological developments quickly, facilities, how to transact requires a very long time. maybe even digital currencies cannot be used as a whole by everyone in the world.
Digital mediums of exchange have one big disadvantage: all your wallet assests could be stolen is some way and you won't be able to return it. You also can be robbed in real life. In that case combination of using different payment mediums will be a golden mean. |
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ulhaq (OP)
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February 04, 2019, 08:15:09 PM |
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Since time memorial, fiat currencies are the basis of trade and making payment. the are the most convenient asset that allows all individual, from the poorest person to the richest. Without fiat currency most people can not conduct simple buy and sell. not to taught about pay for services and goods. As much as digital currency is revolutionizing the world, we can not say that fiat currency are now irrelevant.
This is totally false. Hard currencies like gold and silver may have been used for time immemorial, but not fiat currency. |
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Chikitita2004
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February 04, 2019, 09:34:02 PM |
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Granted that the world is coming to a more digitized generation, at the moment I cannot see it yet starting. If one country will have their own cryptocurrency, that will be for sure a centralized one and I don't see it possible for the whole world to have a single currency in crypto. As of now it is still well with fiat and local currencies and managing.
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awik p
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Pepemo.vip
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February 05, 2019, 08:06:26 AM |
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Granted that the world is coming to a more digitized generation, at the moment I cannot see it yet starting. If one country will have their own cryptocurrency, that will be for sure a centralized one and I don't see it possible for the whole world to have a single currency in crypto. As of now it is still well with fiat and local currencies and managing.
I think fiat currency is still feasible to use even for a long time. moreover now many countries have not been able to implement crypto as a means of payment, they have a variety of reasons from their country's background. but indeed we hope that crypto will later be used as a full currency |
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Bezobraznike
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★Bitvest.io★ Play Plinko or Invest!
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February 05, 2019, 08:12:47 AM |
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Granted that the world is coming to a more digitized generation, at the moment I cannot see it yet starting. If one country will have their own cryptocurrency, that will be for sure a centralized one and I don't see it possible for the whole world to have a single currency in crypto. As of now it is still well with fiat and local currencies and managing.
I think fiat currency is still feasible to use even for a long time. moreover now many countries have not been able to implement crypto as a means of payment, they have a variety of reasons from their country's background. but indeed we hope that crypto will later be used as a full currency Granting that people need money, in future people will need crypto-currencies. I agree with Chikitita, world is going to be digital, new generations will be digital generations. There can`t be only one, crypto-currencies already made an eco-system, with so many coins, tokens, platforms, in next few years we will see weak going down, and strong staying and getting stronger. I believe we will see many new ones. |
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Lexurdania
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Activity: 840
Merit: 10
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February 05, 2019, 08:57:16 AM |
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Granted that the world is coming to a more digitized generation, at the moment I cannot see it yet starting. If one country will have their own cryptocurrency, that will be for sure a centralized one and I don't see it possible for the whole world to have a single currency in crypto. As of now it is still well with fiat and local currencies and managing.
I think fiat currency is still feasible to use even for a long time. moreover now many countries have not been able to implement crypto as a means of payment, they have a variety of reasons from their country's background. but indeed we hope that crypto will later be used as a full currency Granting that people need money, in future people will need crypto-currencies. I agree with Chikitita, world is going to be digital, new generations will be digital generations. There can`t be only one, crypto-currencies already made an eco-system, with so many coins, tokens, platforms, in next few years we will see weak going down, and strong staying and getting stronger. I believe we will see many new ones. People soon or later move to digital payment but i dont think it will be a cryptocurrency. Cryptocurrency will needed as internet currency because cryptocurrency is peer to peer transaction but to replace fiat money, i dont think it will be easy. Government or central banks must be wont lose control on money supply and central banks could create their own cryptocurrency |
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breathlessz
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Activity: 770
Merit: 12
Trphy.io
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February 05, 2019, 12:05:36 PM |
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Granted that the world is coming to a more digitized generation, at the moment I cannot see it yet starting. If one country will have their own cryptocurrency, that will be for sure a centralized one and I don't see it possible for the whole world to have a single currency in crypto. As of now it is still well with fiat and local currencies and managing.
I think fiat currency is still feasible to use even for a long time. moreover now many countries have not been able to implement crypto as a means of payment, they have a variety of reasons from their country's background. but indeed we hope that crypto will later be used as a full currency Granting that people need money, in future people will need crypto-currencies. I agree with Chikitita, world is going to be digital, new generations will be digital generations. There can`t be only one, crypto-currencies already made an eco-system, with so many coins, tokens, platforms, in next few years we will see weak going down, and strong staying and getting stronger. I believe we will see many new ones. People soon or later move to digital payment but i dont think it will be a cryptocurrency. Cryptocurrency will needed as internet currency because cryptocurrency is peer to peer transaction but to replace fiat money, i dont think it will be easy. Government or central banks must be wont lose control on money supply and central banks could create their own cryptocurrency until now there are still many who have not dared to legalize cryptocurrency as a currency, therefore I think it will take a long time to see crypto being used as a currency throughout the world |
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