Post
Topic
Board Economics
Re: Will governments create their own cryptocurrency that will replace fiat?
by
LUCKMCFLY
on 11/05/2019, 02:29:18 UTC
In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

It is likely to happen, we must not rule out a possible union between nations that are affected by the uncontrolled impacts that the economy will have in the future and choose to take the blockchain technology in their favor, because they have to do it in order to back it up with liquidity of gold, precious stones among others.

If a project of this hierarchy occurs, you would have to review your whitepaper very well, analyze any development that you want to implement and what the effect may be in the Bitcoin speculative market, if it is a good project, people will start to join, because the community is the most difficult thing to achieve without being bots or traffic that is paid, the community itself can place the project at the top, and the community itself can make it fall.

You should always take into account that if you want to compete against bitcoin is very difficult, it would take many years for the currency to take an acceptable structure to apply the different theories that are made in the case of Stock Market and even for the same Bitcoin.

A currency made by several nations if it has an increasing value is at the same time dangerous, because when entering a decentralized market where any person as well as bitcoin have access, it would be at the expense of the Supply-Demand Law that always governs the markets, can that has a positive or negative impact, which would serve much to have a good support at the level of liquidity that is what nations can offer as an advantage against Bitcoin. And even though all that would become a competition with Bitcoin it would be very difficult to replace the FIAT.