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Author Topic: In the future, will fiat currencies be necessary in the world?  (Read 35570 times)
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February 11, 2019, 10:36:12 AM
 #721

I foresee a word with state crypto-currency so a GBP-BTC a USD-BTC etc. They will have some monetary power.

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February 11, 2019, 10:36:53 AM
 #722

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.

It is true that it will continue to exists as many countries have still left undecided if they want to make it legal or not. Also some of them have banned it. So in such countries still fiat will be used and also not all countries have so well infrastructure where the electricity and laptop would have reached in many rural areas too.

hard to replace fiat currency. I think it takes a long time and changes in regulations. but not for now, bitcoin is currently still the pros and cons of many countries, so it requires adaptation first
fiat will not replaced by any digital currency.there is function of fiat that could not done by crypto or anything else.maybe in village that still in primitive they still need tradional currency to make transaction.

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February 11, 2019, 08:03:18 PM
 #723

Common currency will exist almost always. In any case, as long as there will be different states. Each state is forced to have its own national money to develop its economy. By its nature, a decentralized cryptocurrency cannot replace the national money of states. Cryptocurrency can only go in parallel with the national money of the state and then, as an auxiliary means of payment.

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February 11, 2019, 10:07:26 PM
 #724

I think fiat will always used, because fiat a currency based on trust people on their government. I dont know how the exactly the future about Fiat, will be still using some papper money or we will upgrade to the next level of fiat.

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February 12, 2019, 06:08:51 AM
 #725

I think fiat will always used, because fiat a currency based on trust people on their government. I dont know how the exactly the future about Fiat, will be still using some papper money or we will upgrade to the next level of fiat.
as long as the government still allows fiat to be used in transactions, fiat is still feasible to use as a transaction tool. so that the government holds control for it, and we inevitably have to obey it

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February 12, 2019, 01:51:24 PM
 #726

I think fiat will always used, because fiat a currency based on trust people on their government. I dont know how the exactly the future about Fiat, will be still using some papper money or we will upgrade to the next level of fiat.
Fiat will always be used from now, even to the future and more because it really gets the trust of users, every user believes and uses it in a comfortable and popular way, and behind the fiat, it always has a very strong source of support, it is the government, they always bring the best conditions for fiat to be able to maintain and fit in people's lives. And although fiat may be more outdated in the future, but I can't deny what you say, we and the government will automatically upgrade it to suit that era, fiat has always been indispensable, it has been a part of everything

 
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February 12, 2019, 03:30:35 PM
 #727

As of now Fiat was very useful and it has been used for a thousand years. So, none of us in our generation would say accurately the right answer for it. Though, there are some saying that Fiat in the future will be gone away or disappear. And if I am going to explain what is written in the revelation in the bible were in the " Last day money will no longer be useful ".
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February 12, 2019, 03:43:47 PM
 #728

I think fiat will always used, because fiat a currency based on trust people on their government. I dont know how the exactly the future about Fiat, will be still using some papper money or we will upgrade to the next level of fiat.

Yes, I agree. Probably in the future cryptocurrencies will be used in conjunction with fiat money. It's difficult to imagine at the moment a world without fiat money, but you'll never know!
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February 12, 2019, 07:01:40 PM
 #729

I think fiat currencies are difficult to lose and more likely to survive because they were created by the government, and people will still need fiat as a means of payment.

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February 19, 2019, 09:17:41 PM
 #730

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.
Paper money is still used until one day the world is 100% digital, where land for planting trees is not available as raw material for paper money, maybe paper money is not produced anymore and people use digital money.
But such a possibility is very far away, so it makes the most sense now that paper money is used with digital money, so that people can choose which one they like the most.
The transition to the full use of cryptocurrency will be possible when all states unite into a single state on planet Earth. If there are states with different economic and political interests, then they will have their own national money. And since there has never been a universal prosperity and consistency of actions of all states on Earth, it is useless to dream of a universal transition to cryptocurrency. This will never happen. And the cryptocurrency itself was created only as an alternative payment system to the currently existing payment systems.

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February 20, 2019, 05:49:58 AM
 #731

I believe the fiat still have a big role to play in the investors because some of the currency holder still use to buy things in rural places. And I think fiat probably won't get erase like some part of my country, government still needs to provide a better electricity and internet connection to use by people who are in a far areas.

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February 20, 2019, 06:05:36 AM
 #732

Fiat is a strong currency and is a provision in the economic system which in my opinion wouldn't replaced ever even though many new things have emerged, it's one of the important things and has become a characteristic as well as has become a permanent thing I guess.

Human life can indeed be more modern than before, but nevertheless, fiat will not be replaced even disappear. well even though there are not many reasons that I can convince it, but I really believe and can ensure that it is the most priority thing by the Countries.
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February 20, 2019, 09:39:37 AM
 #733

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.

It is true that it will continue to exists as many countries have still left undecided if they want to make it legal or not. Also some of them have banned it. So in such countries still fiat will be used and also not all countries have so well infrastructure where the electricity and laptop would have reached in many rural areas too.


Perhaps paper money will reduced a lot but will transform to digital currenty. It still fiat money because controlled by central banks and fiat money still needed to boost economic growth

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February 20, 2019, 01:56:00 PM
 #734

With this consistent changes and upgrades to our life, i dont think fiat will have a role in this. Its obvious that modern society are highly automated and technological advancements are everywhere. I know there will come a time that even poor people have some devices to transact with. The government will know what to do.


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February 20, 2019, 03:55:44 PM
 #735

With this consistent changes and upgrades to our life, i dont think fiat will have a role in this. Its obvious that modern society are highly automated and technological advancements are everywhere. I know there will come a time that even poor people have some devices to transact with. The government will know what to do.
looking at effectiveness, of course tomorrow people will turn to practical ways. but for evolution in that direction I think it still takes a long time, and dependence on fiat is certain. currently the best target is crypto payment facilities
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February 20, 2019, 04:25:29 PM
 #736

I think the future would end up being more like China were everyone uses fiat, just not in a physical form. This is the most advantageous scenario for governments, since they can snoop at all your transactions or outright ban freeze your accounts. With only digital fiat, they have greater control.

 
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February 20, 2019, 05:11:12 PM
 #737

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.


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February 20, 2019, 07:23:29 PM
 #738

If you are thinking of total digitization of payment method than it will take 4-5 decade or more  but till that time fiat will be used for various physical transaction.not everyone is educated and have knowledge of digital currency ,it will take good amount of time when majority of population will be educated and will have digital hardware wallet like system for day today purchases but it will be difficult to implement it.
Do you think it could be possible to move from fiat to digital money in 4 or 5 year? First off, humanity and economy should ready for it. We need more years than you predict and during this time adoption will improve slowly. Do not think someone can run away from this, eveybody will have to use crypto when the time comes.

 
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February 21, 2019, 06:22:05 AM
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 #739

This could be hard question to answer cuz money is essential for everything. Interesting is what can be some pointers on this topic. If we look how many countries uses cash on daily bases, then we will have long time before money becomes obsolete, only handful of countries dont use cash on daily base they use card and mobile phones payment system. On other hand paper money wont completely disappear any time in the near future. True that we have more electronic transactions that have become more and more common and this trend will not continue. Thing with paper money is this that in all countries is back up with gold. Someday we wont have paper money that is true but interesting could be what will happen then in that point.
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February 21, 2019, 07:13:27 AM
 #740

Cryptocurrencies certainly offer some advantages that are absent with fiats, however, fiats play another role for government as it is a tool to control the supply of money and as such control the economy, that will be difficult to replace with crypto in the future
the legality for crypto currencies that can make the paper currency impossible can occur without anyone knowing about future economic developments, maybe the paper or fiat currency will be replaced with digital currency

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