You need one or two currencies around the world, but not more.

Yes, without any doubt I would say that fiat currencies are absolutely necessary. I mean think about the poor people and the illiterate ones. How would they buy things if fiat currencies would be eliminated? The cryptocurrencies need a smart phone and a strong internet connection to operate. How the people living in rural areas and those who cannot afford digital devices and internet connection will live? So fiat will not be eliminated at least till the illiteracy rate and poverty rate ends.

Fiat money or paper money needed in the world. Beside more flexible, many country dont have good internet infrastructure and paper money very usefull on that area. But many weakness on fiat money thats why cryptocurrency created to fill that holes

While many countries have reserves in another currency, countries are predominantly using different fiat currencies in international commerce. How is economic cooperation and development mediated by fiat? Economic cooperation and development can be mediated by any currency, or currencies, as it is now. Cooperation and development occurs through trade negotiations, international law, governmental and non-governmental organizations, etc. I'm not talking about anyone forcing the use of bitcoin, eg I mentioned above the possible combination of cryptocurrency and gold. Eg, governments may be using a decentralized cryptocurrency, but gold might still be used by individuals, and in some retail transactions.


It is not verbal gymnastics. If you are not willing to understand why you are wrong on this point, then there is nothing I can do; I gave you a clear reference that explains in great detail. I have not seen a cogent argument supporting your view; If you can provide one I would look at it.


The references were for your benefit. I am extensively read in economics and I studied it in school. I chose those 3 references to address the 3 specific points that you made. What is the source of your knowledge, your own mind? If you have references for any of those points (or even discussions on this forum which you mentioned in passing), I would take a look at them.

I think if Bitcoin is never found, but someone like Paypal has implemented blockchain technology first, then we will not be in the competitive scenario we are facing now.
Fiat currencies are obviously not needed, there is an increasing trend towards currency digitization, and the blockchain-based currency is just the next generation of this. The problem is that Bitcoin comes out, and everyone treats it as a substitute for fiat currency, rather than a gradual increase in digital currencies like Paypal and Skrill.

Your references are irrelevant as well as your being "extensively read in economics and I studied it in school". If you can't explain things how you understand them, how can you know that you truly understand what someone else is saying or writing, Nobel prize winners included? This is not a pissing contest, anyway. If you can prove your point, go for it. I gave you an example from real life, and anyone who is actually versed in economics, who understands how deflation and inflation work on the level of separate companies and households, that is at the lowest possible level, knows that deflation is not inflation mirrored. Why should I care about your Nobel prize winners if you can't even answer a very simple question, which reveals your true knowledge and understanding of the matter (or rather lack thereof)?

In fact, cash is still widely circulated and needed. Its main purpose is to promote the flow of economic. It needs to be replicated to meet the needs of life.

Definitely a lot more necessary than the crypto we are trying to improve. I mean what else are you going to use for buying or selling stuff banter ? No way.

Hence, we are stuck with fiat until something a lot better comes along or the world finances collapses in a much bigger than the 2008 crisis which in itself was insanely high but with such a collapse the result will not be fun, yeah we will get rid of this crooked finance world however it will affect us more than it affects the bigger whale guys. Hence we should not hope for that neither.

I think the clearest choice is that we should hope that fiat is not devaluation at the same pace it has been in the past couple decades and finds a peaceful stop and try to gain value instead of losing it.

FIAT currencies are only needed by governments because they can print as they want.

The "people" don't need FIAT, I think we will be moving to a world where we trade things for other things (goods or services) and crypto is going to make this happen.

As of the moment, yes it is, we can say that it is not necessary when everything is in digital ang cashless but for not many people are not yet familiar with digital money due to the fact that they don't have gadgets to use and inyernet not accessible to their places. It i still need more time to be a cashless society.