lets imagine world without fiat currency

[Dorodha]

fiat currency is never possible to imagine the world without Fiat currency. People are able to live a normal life without the use of Bitcoin because many people have no idea about the use of Bitcoin. But Fiat is never possible without currency Introduction of Fiat currency in every occupation including livelihood and employment. Improving the country's economy is not possible without the introduction of Fiat currency. People will be hindered in every work and the central banks will lose their existence. After the need for cash for education and product purchases.

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[hatshepsut93]

Bitcoin will never replace fiat currency, so it's not a problem. Bitcoin has too many unsolved problems to do so - scalability, hard user experience, price volatility to name a few. Governments will not allow Bitcoin to replace fiat, a simple ban is more than enough to stop mass adoption and leave Bitcoin as nothing more but a tool for darknet transactions. Just because a lot of Bitcoiners imagine and say that Bitcoin will be a dominant form of money, doesn't mean it's actually going to happen. And its price rise isn't a proof that it's happening.

[rodskee]

^ During our ancient day barter system was evolved to fiat because they don't have a fair exchange. Fiat was created and put value until now people use fiat and for how many years we use fiat through physical or digital fiat.

Well Still bartering is cool way of getting what we need,in our group in social media now bartering is trending when we are offering our items and looking for someone who needs it,then They will provide what i need,like groceries or something material that fits me.
so in this way we are releasing our not used things and change to what we need.

I can't imagine without fiat currency, each country has a different currency value and I don't think the stock market were there if we are all the same value of fiat. Bitcoin will never replace fiat or any crypto out there. Nevertheless, this is the fact they can be used as an alternative to fiat.

Actually Fiat can be gone when people starts to accept Crypto as now PayPal is standing great in this in which Online transacting makes easy using this.

[Genemind]

As long as Bitcoin has a limited outlet or cannot be used on daily transactions, it can never replace fiat. We need massive adaptation as well as government acceptance. As of today bitcoin is viewed as an investment tool not as a medium of exchange.

[kryptqnick]

now lets imagine world without fiat currency.
lets say we use bitcoins.
so milk price how many btc?  fuel price? rent ? and how the prices will calculated?
and if there is only limited supply of bitcoins.....then those who who have bitcoins merely will rule over others?
so your skills or value in society dont count only matters who go the most of the bitcoins?
bitcoin halving by the time so less and less btc will be in circleation....so how the world will remain sustaineble then ?
okay if bitcoin is not good to be currency then ethereum ?? well ethereum is centralised as i know ?
stable currenies?? well i dont see point of them they are just the 1:1 of the same fiat currrencies.
so where does the theory come from then we go all in cryptocurrency and fiat currency will disapere?
well this is not possible bitcoin without fiat can not serve all the peoples currecny needs !!



right now we dont have clear answere so fiat currency still rules. how we are going to control the money supply how big quantity of currency is in circelation?
if bitcoin is the future of money without fiat then everybody will have the guns and shoot each other:D just to get other bitcoins becouse btc has limited supply lol   so i want to know if fiat currency will disapere then how the new currency will be issued? and how it will be backed?

and please dont comment something nonsense lets try to gather here only smart comments as this topic is important topic to know.

The value of cryptos is currently measured in how much they cost in fiat, but it doesn't mean we cannot do with fiat. We could turn to purchasing power, and the price could be regulated based on the demand and supply, just like it is now. We'd get used to milk for 0.001 BTC, for instance, if we use it often enough. Moreover, most fiat currencies are also evaluated in their relation to USD, for instance, so the same argument you're now using against cryptos can be used against fiat. If we do imagine a world without fiat, however, I think altcoins would thrive. Bitcoin simply cannot handle enough transactions, so I imagine it would be used along with at least 10 other cryptocurrencies, with the price being set in BTC but a possibility to pay with, say, Ethereum or Litecoin.

[pinggoki]

A world without fiat currency? Then probably this will be back to the past where in the main system is barter of items or the trading of items that we have in order to get what we need. That would be the main system when the world never discover the fiat currency, in order for you to have the things that you have, you need to exchange what is precious to you in order to match the thing you want to have.

As long as Bitcoin has a limited outlet or cannot be used on daily transactions, it can never replace fiat. We need massive adaptation as well as government acceptance. As of today bitcoin is viewed as an investment tool not as a medium of exchange.

Actually bitcoin will never replaced fiat currency, why? simply because when the bitcoin replace the fiat currency then probably there will be no paper money that will revolve all over the world and the main currency that will be used was bitcoin and that will be really impossible because some people don't want a currency that is volatile so it is really impossible to do so.

[BIT-BENDER]

As long as Bitcoin has a limited outlet or cannot be used on daily transactions, it can never replace fiat. We need massive adaptation as well as government acceptance. As of today bitcoin is viewed as an investment tool not as a medium of exchange.

Bitcoin taking over fiat in all things in one third of the world is very hard accomplishment, now bitcoin taking over and accepted over all fiat -all currency- is another wonder, but does bitcoin has to over-turn fiat  like bitcoin used only! No bitcoin doesn't need that, diversity/multiple-ways in paying bills/purchase,business makes it fitting/in line to the choice and likeness of everyone. Bitcoin shouldn't be forced or enter any mortal combat fight with any currency.

[ropyu1978]

now lets imagine world without fiat currency.
lets say we use bitcoins.
so milk price how many btc?  fuel price? rent ? and how the prices will calculated?
and if there is only limited supply of bitcoins.....then those who who have bitcoins merely will rule over others?
so your skills or value in society dont count only matters who go the most of the bitcoins?
bitcoin halving by the time so less and less btc will be in circleation....so how the world will remain sustaineble then ?
okay if bitcoin is not good to be currency then ethereum ?? well ethereum is centralised as i know ?
stable currenies?? well i dont see point of them they are just the 1:1 of the same fiat currrencies.
so where does the theory come from then we go all in cryptocurrency and fiat currency will disapere?
well this is not possible bitcoin without fiat can not serve all the peoples currecny needs !!



right now we dont have clear answere so fiat currency still rules. how we are going to control the money supply how big quantity of currency is in circelation?
if bitcoin is the future of money without fiat then everybody will have the guns and shoot each other:D just to get other bitcoins becouse btc has limited supply lol   so i want to know if fiat currency will disapere then how the new currency will be issued? and how it will be backed?

and please dont comment something nonsense lets try to gather here only smart comments as this topic is important topic to know.

When you imagine world without fiat currency and cash money how come traditional market will make transaction, I think if you buy on online market it easy to use bitcoin as transaction payment, but how come when you try for buying vegetable, milk and rice on traditional market, how come without using cash or fiat money, will lower price or amount transaction if you use bitcoin or altcoin you have pay higher fees transaction, I agree bitcoin become legal currency payment but have on the right place where have to use bitcoin as payment way or not.

[adzino]

now lets imagine world without fiat currency.
lets say we use bitcoins.
so milk price how many btc?  fuel price? rent ? and how the prices will calculated?

Lets say that you will buy a gallon of milk from walmart. You pay around $3. How was the price calculated? I mean why are you paying $3 for the milk? You may say the government controls the price based on money circulation and whatever. Well in that case the price will also be set in terms of bitcoin by the government (you said world without fiat currency not without a centralized government).

and if there is only limited supply of bitcoins.....then those who who have bitcoins merely will rule over others?

There are billionaires in the world. Are they ruling you?

so your skills or value in society dont count only matters who go has the most of the bitcoins?

Not sure what you mean by this. Your skills and values will matter since this is how you will be earning your coins (just the same way you used to earn in the world with fiat currency).

bitcoin halving by the time so less and less btc will be in circleation....so how the world will remain sustaineble then ?

Supply is limited. People are intelligent enough to come up with a solution (maybe more smaller fraction of coins).

[Sterbens]

actually what makes all this nonsense is you . where you ask to imagine something that has an impact that doesn't make sense, then I have the right to answer with an answer that doesn't make sense anymore, because you yourself are exposing the absurdity where bitcoin is the main source of transactions. I automatically follow the story line that you create. I imagined your story and then thought, obviously a lot of things will happen beyond reason, people will kill each other just to get bitcoins. Then what about the people out there who have difficulty accessing the internet, even though the digital world has not been touched. they can still use fiat currency in their country. this was wrong and I was led to the error of following a nonsensical story.

i just use my freedom to comment

thanks.

[fiulpro]

now lets imagine world without fiat currency.
lets say we use bitcoins.
so milk price how many btc?  fuel price? rent ? and how the prices will calculated?
and if there is only limited supply of bitcoins.....then those who who have bitcoins merely will rule over others?
so your skills or value in society dont count only matters who go the most of the bitcoins?
bitcoin halving by the time so less and less btc will be in circleation....so how the world will remain sustaineble then ?
okay if bitcoin is not good to be currency then ethereum ?? well ethereum is centralised as i know ?
stable currenies?? well i dont see point of them they are just the 1:1 of the same fiat currrencies.
so where does the theory come from then we go all in cryptocurrency and fiat currency will disapere?
well this is not possible bitcoin without fiat can not serve all the peoples currecny needs !!



right now we dont have clear answere so fiat currency still rules. how we are going to control the money supply how big quantity of currency is in circelation?
if bitcoin is the future of money without fiat then everybody will have the guns and shoot each other:D just to get other bitcoins becouse btc has limited supply lol   so i want to know if fiat currency will disapere then how the new currency will be issued? and how it will be backed?

and please dont comment something nonsense lets try to gather here only smart comments as this topic is important topic to know.

See this won't be practical because there are many people living here within any internet , mobile and even basic needs , so we have to take it into account that these people won't be able to get involved.

We have to then think about many factors at once , how do you think the instant withdraws buying works ? The price can be calculated online within matter of seconds. But this would need a major dominance of internet and good softwares.

Now this would mean that Old people and kids won't be able to use it that much.

We cannot ignore :
People without good knowledge of Bitcoins and other cryptocurrencies
People without any internet and basic facilities
Counties who are not much involved with them and where the cryptocurrencies are banned

It would be a bad idea for sure.

[cryptoboss2020]

conclusion: is the bitcoin is more like intermediary between all the currencies prviding liqutity and cash reserves to trade between currenies.

by reading all comments here i made this conclusion

[Casdinyard]

Fiat currencies will always exist as long as there are governments. Currencies of such are supported by governments and that is enough reason to tell that fiat will never be gone. But if ever cryptocurrencies will be the mode of payment, things will be different. The market value of cryptos might be more stable if that's the case because wide usage could make a change in its market value volatility. The rates will be same with fiat in a sense wherein cryptos will be used. Even before wherein fiat are not existing, there are means of transactions such as goods, so more likely, things will be the same if ever fiat will be gone and cryptos will be the medium of payment.

[Get-Paid.com]

Fiat currencies will always exist as long as there are governments.

And in another words they would continue to exist no matter what, even in the history of our world there were currencies in use.

[senya-com]

We actually can see now that already money in any sense of this word is losing its aim: most people take multiple credits to acieve goods and lifestyle they want in exchange for their time spent for work. So many people don't encounter any money at all mearly during all their lifetime. While people who already acheved a great deal of money don't even have a tip what to do with this stuff to get personal or social progress. This means that money in context of luxury, progress and freedom is no more useful, so the next step can be just cryptocontracts arranging barter trade and direct labor-to-goods exchange, even without digit intrepretations of money amounts passing. Actually any currency is just psychologically approved, thats why this is possible to get rid of any currency at all by swapping the whole economy to contracts (something like "oath to do in exchange for getting").

[uneng]

It's hard to imagine this possibility, because it's a complex situation.
We could have a government centralizing bitcoin currency or a private government ruled by bitcoin whales. Most probably each country would have its own crypto currency, as everyone using the same (bitcoin) would turn national countries economies and sovereight into a whole mess.

The goods prices like milk, fuel and everything else could be set by supply and demand law or by a central authority decision. It depends on the economical model a specific country adopts.
It's not an impossible situation to happen and I believe in the future things tend to follow this way since internet, technology and virtual stuff is playing a bigger role in our daily lives even more.

[Lordhermes]

Normally, the Fiat currency is channeled with bitcoin and USD values, each and every country is represented by her fiat currency which is calculated towards their respective values. Due to the fact that bitcoin currency is erupting in the ecosystem, the fiat is support its existence and males it more simpler in selling and buying cryptocurrencies. However it could be a boring world if actually only bitcoin exist without fiat, the both works together making any local and traditional transactions in success.

[Finestream]

It's hard to imagine this possibility, because it's a complex situation.
We could have a government centralizing bitcoin currency or a private government ruled by bitcoin whales. Most probably each country would have its own crypto currency, as everyone using the same (bitcoin) would turn national countries economies and sovereight into a whole mess.

The goods prices like milk, fuel and everything else could be set by supply and demand law or by a central authority decision. It depends on the economical model a specific country adopts.
It's not an impossible situation to happen and I believe in the future things tend to follow this way since internet, technology and virtual stuff is playing a bigger role in our daily lives even more.

We can see high chances that bitcoin can be used as a main currency without the existence of fiat but maybe by that time the government is already making it centralized. I cannot imagine people using bitcoin to pay the basic commodities if it will stay volatile like what it is right now.

[enhu]

Countries like China were already issuing digital currency, it's been running for months I think we can scratch the idea that Bitcoin will be a currency that we can use daily to make transactions like buying something from a local store. With the transaction fees, you wouldn't try paying $10 worth of items.

[TIDOVEE]

Fiat is good,it plays a very important in daily transaction and if it will be wiped off is cannot just be suddenly, it will gradually be withdrawn if it's effect will not be evidently implicating, but I think they will still have to leave some underdeveloped regions, considering the illitrates, but I think very soon there will be more orientation for people to be able to embrace and use it .