Quote from: The Pharmacist on October 18, 2020, 06:57:22 PM

Quote from: iamsheikhadil on October 17, 2020, 08:09:42 PM

I think we are headed towards blockchain and crypto based coins inevitably. As globalism continues to rise, we have no other choice but to adapt a single currency monitored and regulated by everyone and none would have supreme authority over it.

That would be effin' fantastic, but there's no way in hell any government that wants to collect taxes is going to go for it.

And what cryptocurrency would be used for the "global coin"? Would it be bitcoin? Would it be a true cryptocurrency or would it be something totally centralized like that which the Chinese government has proposed (I think it was China)?

Exactly, he said, although I don't know if intentionally, only crypto-based coins, and NOT decentralized cryptocurrencies.
So, if we're talking about a centralized cryptocurrency that would replace the current system, it's probably the easiest way to collect taxes, just code the tax to be x% of the sum, and every time you make a purchase you will be taxed, no escape, nowhere to hide. It would also be somewhat good for bureaucracy as it would make accounting far easier, no more headaches with VAT returns or anything else, everything is tracked, everything gets taxed and nobody can evade it.
Furthermore, there is no more black market, there is no longer anyone who registers no income but has money to spend every night in all the clubs, isn't it great?

But, is this a utopia or a dystopia? Cause I have a feeling it will pretty soon turn into the second one.

Quote from: el kaka22 on October 19, 2020, 09:02:55 PM

It doesn't depend on how the us dollar is treated or how the economy is going, it depends on how powerful USA is in the world politics and that is the most important part. Sure when you look at the military side, they are spending more than the next 26 nations combined, 27 if they increase it once again this year, so when you talk about military power they will always and forever will be the biggest power in the whole world, they literally send dozens of PLANE CARRIER SHIPS AS BIG AS SOME ISLANDS, that is bonkers.

They can't send dozens as they have just 11 true aircraft carriers, but military and even politics or the size of the economy are not always definitive.
Excluding the $ or the swiss franc which is something special in its own way, look at the Yen, the Canadian dollar, the Russian Ruble, and the Rupiah.
Why are the first two far more widely accepted everywhere than the last two?
Yes, it depends on how the economy is running, not the size of it, not the military power.

Quote from: dkbit98 on October 19, 2020, 02:20:00 PM

Future of dollar and any other fiat currency is to go digital, but before that current economic system probably must collapse.

We already have digital dollars and euros, I have digital euros on my debit card account, in my bank account, and in my Paypal account. Grin