2014 World Fiat Collapse?

[Trance]

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -Henry Ford

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[IrishFutbol]

To any current coin, never.

[Beliathon]

2-5 years would be my educated guess as a political scientist.

[westkybitcoins]

I suspect the poll  was really asking about "collapse" or even "restructuring" as opposed to "revolution."

With that in mind, I voted 3-5 years; things are still way too comfortable for too many people for any significant portion of U.S. citizens to actually generate enough pressure to initiate change.

[Swordsoffreedom]

Depends on how strong the propaganda I mean media is pushed

[Trance]

2-5 years would be my educated guess as a political scientist.

Political scientist, interesting, where do you work? Where did you obtain your degree?

[Trance]

The Four Horsemen - Renegade Economy


If this was launched on NATIONAL TV in the United States, Bitcoin might rise to $10,000+ ~ !

[TTM]

I don't know how about fiat, but cryptos are crashing hard today, both btc and ltc  

[mgburks77]

Within 20 years all work will be done by software or machines. Human labor will be virtually unnecessary.

We have a market based system that depends on consumerism to function. Yet in 20 years there will be no jobs for anyone to do. All of the professions and everything else will be done by machines. If people do not have money then how will they buy products and fuel consumerism?

Conclusion:
Major political and social change is on the horizon.

[whtchocla7e]

And what would FIAT be replaced with in 5 years??

[OROBTC]

...

As we saw in the cases of Rome and Britain, it can take a long time for an empire to disintegrate.  That means that it is perfectly possible to have a good life and enjoy things even if things are heading into the crapper.

And, really, it is up to each of us to look after ourselves and our loved ones.

(My vote was 5 + years)

[mgburks77]

And what would FIAT be replaced with in 5 years??

A moneyless system is inevitable, but it will take more than 5 years and will be accompanied by a lot of political turmoil as those whose power is vested in the current system struggle to retain control of their power.

[Trance]

Within 20 years all work will be done by software or machines. Human labor will be virtually unnecessary.

We have a market based system that depends on consumerism to function. Yet in 20 years there will be no jobs for anyone to do. All of the professions and everything else will be done by machines. If people do not have money then how will they buy products and fuel consumerism?

Conclusion:
Major political and social change is on the horizon.

More like by the year 2020!

Equality is so far off that there will either be obesity or starvation, sorta the way things are adapting now.

[IrishFutbol]

1. Think of how much would have to change in our nation technology wise in order to completely do away with paper bills and coins.  Then realize how much more advanced the US is compared to many other countries.  This would prevent any change for a few decades.

2. You cannot have individuals in-charge of mining your sole currency.  Simple fact, energy is expensive in the US and Europe compared to the rest of the world.  We're any crypto currency made the sole currency (and therefore incredibly more valuable than any coin currently is), you would rapidly approach the equilibrium of cost to create a coin = value ofa  coin.  Therefore, all mining would be done in pollution friendly countries that rely on sources like coal to power computers.  Good luck convincing citizens of the developed world to hand over this much power and wealth to China.

3. Contrary to Libertarian beliefs, there are actually positives that come along with a central bank, and economies can go to hell really fast if someone's not making sure that there's an appropriate amount of money floating around.

4. If any coin was widespread, it would not be that much different than current currency.  If anything, and we did end up switching to some crypto currency, it would not shock me in the least if it was through government manipulation into some code that they not only controlled the production of, but could track with ease as well.

[Bonam]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse. The world's economies have weathered the last recession like they did every one before it and are now back on the path of growth and prosperity. Yes, there's always issues to address with the nature of banking, the extent and type of regulations, the security, cost, and speed of transactions, etc, but these are all evolutionary changes that will happen over time, not requiring any collapse or revolution.

With any luck, cryptocurrencies like bitcoin will exist in parallel, allowing a different kind of functionality, and a different sets of advantages and disadvantages, to government fiat money.

[Agent99]

I don't know how about fiat, but cryptos are crashing hard today, both btc and ltc  

[westkybitcoins]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

It has to end, either voluntarily or involuntarily. And since TPTB don't seem too keen on letting the system end voluntarily....

[Taras]

I remember preparing for the death of the dollar in 2012
Then the silver bubble popped... Then I found bitcoin

[dank]

The answer is yes.  It would be wise to prepare, the sooner the better.

[Bit_Happy]

The longer the Collapse is delayed the worse it will be.
It has been delayed for decades.