Crypto vs. Fiat: Is Fiat Currency Dead?

Once upon a time, the U.S. dollar was backed by gold. Now, it’s backed by hopes and dreams.

I was having a conversation with a businessman the other day, and you know what he told me?

Inflation is at 7% and he was expecting an earned income raise at 3% which still put him in a deficit of 4%. I’m no mathematician, but even I know that’s fucked up.

It’s like…

No one can afford to live anymore.

Damn-near everybody is working two jobs or forced to room with somebody, or is cramped in a house with 10 other people. Interest rates are way up, and eating out costs the same as grocery shopping.

Bottom line: the dollar is dying.

As the U.S. prepares for a possible war (that we can’t afford) with Russia, it’s becoming more and more evident that America is losing it’s international influence. I mean, China replaced us as the richest country (and also, we can’t even speak negatively about them without facing ‘financial’ consequences).

For our currency to only be backed by the government’s word, none of this is helping to maintain the dollar’s value. It’s depreciating at record speed, and before long, it’ll be equal to the value of several cryptocurrencies.

Like SHIB.

But maybe that’s why so many are investing in crypto; many argue that it’ll be the new method of exchange. And since it’s aim is to be decentralized, you can spend crypto anywhere that it’s accepted. It’s almost like universal money.

There are a few companies that are slated to start accepting crypto as forms of payment soon, but with so many options out there, it’s hard to say which ones will be at the forefront.

(It definitely won’t be Bitcoin, but we’ll see.)

Crypto has the ability to reset currency as we know it. If the dollar completely loses all value, what will we use to exchange goods and services? Of course, bartering may become popular again, but then comes the struggle of making sure that traded assets are equal in value. And would everything be eligible to trade in this system? I mean, everything… ?

Crypto is the future, but how far into the future, I can’t be sure. What I do know is that history repeats itself, and by my predictions, it’s the beginning of the end for fiat currency.