Cryptocurrency Q&A
What happens when fiat currency collapses?
What happens when fiat currency collapses?
Stefano
Thu Nov 07 2024
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7
answers
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I'm wondering about the consequences of a fiat currency collapse. Specifically, I want to understand the economic and societal impacts that would occur if a country's fiat currency loses its value and becomes unusable.
7 answers
Enrico
Sat Nov 09 2024
The collapse of a fiat currency often stems from a lack of tangible backing.
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InfinityRider
Sat Nov 09 2024
Unlike commodities such as gold or silver, fiat currencies have no intrinsic value.
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IncheonBeautyBloom
Sat Nov 09 2024
Instead, their worth is primarily derived from the issuing government's credibility.
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Maria
Sat Nov 09 2024
The depreciation of the dollar would signify the erosion of trust in its status as a global currency.
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Claudio
Sat Nov 09 2024
When this credibility is compromised, the currency's value can plummet.
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