What do we think of a time that may come when the fate of human survival will depend only on using cryptocurrency for buying and selling, because mankind may soon find Fiat currency is obsolete or of no value in their current environment perhaps due to world earth crisis or pandemic or war .
Your opinion is valid!
Interesting thought, but I don’t think fiat will ever fully disappear.
Fiat currency is directly tied to the authority and power of the state. As long as governments exist, they will never give up control over money issuance — it’s one of their core tools. Central banks won’t just say, “Okay, let’s switch to Bitcoin.”
Even in extreme crises — wars, pandemics, collapses — people fall back on the strongest local structure they can trust, and usually, that’s still the government or military-backed systems. If anything, we’ll likely see more central bank digital currencies (CBDCs), not a full shift to crypto.
Crypto may grow as a parallel system or hedge, especially in broken economies. But full replacement? That’s a sci-fi scenario, and even then, some form of fiat or government-backed money will likely remain.