Are you worried that any currency will become obsolete?

[Grant]

As in, certain foreign currencies that one day may not be worth the paper they're printed on. I know some countries had currency that was worth something, but then after a change of currency, became obsolete. I don't remember what country it was, but I think it was one that ended up changing to a different currency, and the currency they made was rendered useless.

I heard some people scam people with the fake currency, they trade it in thinking they get a lot and in return they lose tons of money.

Do you think any other currency can face a similar issue?

 

[Shigobad20201]

As in, certain foreign currencies that one day may not be worth the paper they're printed on. I know some countries had currency that was worth something, but then after a change of currency, became obsolete. I don't remember what country it was, but I think it was one that ended up changing to a different currency, and the currency they made was rendered useless.

I heard some people scam people with the fake currency, they trade it in thinking they get a lot and in return they lose tons of money.

Do you think any other currency can face a similar issue?

I have heard stories about many countries that gave up on their currency and decided to adopt another country currency, a good example is the east African country called Zimbabwe , they gave up on their currency called the Zimbabwe dollar.

 

[Niftyyem]

I have heard of this but I don't understand it. The country itself must be ready to fortify its fiat by itself first before thinking of getting any global value for it.

 

[eLdavis]

Well right now I do not have such worries, I believe majority of the countries right now are doing really well and their flat currency are about stable even in the forex market. Anyways I don't really know how these things work though.

 

[Kvngsammy]

Of course and that's a great fear for me especially once governments begin to create their own digital currencies and ban the use of other currencies in thier nations so we keep using theirs.
Let's just watch and see how it goes

 

[Immilash]

that's very true ,many people nowadays are in to scamming people ,and some also are into defrauding people ,and also impersonation ,they also scam people with fake currency ,in other for them to get money

 

[Solutionav]

As in, certain foreign currencies that one day may not be worth the paper they're printed on. I know some countries had currency that was worth something, but then after a change of currency, became obsolete. I don't remember what country it was, but I think it was one that ended up changing to a different currency, and the currency they made was rendered useless.

I heard some people scam people with the fake currency, they trade it in thinking they get a lot and in return they lose tons of money.

Do you think any other currency can face a similar issue?

One of the challenge most countries face is currency, we use different currency and now digital currency is being introduced which I know very soon all this paper money will be wipe out

 

[Ceeny007]

It's possible with the way some countries currency is being devalued daily I won't rule out the possibility of it happening especially in developing countries

 

[Bousine123]

I haven't heard of such a story but if it's true then it's really pathetic. Cryptocurrency is taking over fiat currency, and soon, most of them will be obsolete.

 

[Toyoabasi]

We have people who are monetary scammers out there...professional ones.
They can print fake money and except you can quickly spot it out, you may not know.
It is possible for some currencies to become obsolete.

As in, certain foreign currencies that one day may not be worth the paper they're printed on. I know some countries had currency that was worth something, but then after a change of currency, became obsolete. I don't remember what country it was, but I think it was one that ended up changing to a different currency, and the currency they made was rendered useless.

I heard some people scam people with the fake currency, they trade it in thinking they get a lot and in return they lose tons of money.

Do you think any other currency can face a similar issue?

 

[Kvngsammy]

I haven't heard of such a story but if it's true then it's really pathetic. Cryptocurrency is taking over fiat currency, and soon, most of them will be obsolete.

I'm not sure that any of Fiat currencies would become obsolete because these are the main ways by which they exchange currencies or generate foreign exchange. It's cryptocurrency that won't become an acceptable means of payment

 

[Lucy ID]

Yes I fear for that a lot, because many countries currency are depreciating in value daily making the currency less or worth anything at all compare to other currencies

 

[Shaffy]

If a national currency becomes obsolete, it means that the government has launched another one and will most likely replace it for the citizens with the current one.

 

[Immilash1]

Yes. There are many scammers scaming people with fake cryotocurrencies. That's why you need to have a good search before investing or trading on any coin.

 

[Seno inyang]

Hmmm,🤔
Most people are out there to scam their victims monetarily. In a developing country it's possible to experience that the currency becomes obsolete, especially now that digital money(e-naira) has been activated in Nigeria. We need to be on the watch out.

 

[Ezekiel]

Yes I am boder that sooner money will become obsolete not because of any reason but because of I am not really perfect using crypto currency to trade

 

[joy101]

I have never heard such story before but I think it can be possible because of so many reason that now digital money has been introduced in Nigeria.

 

[Shigobad20201]

Hmmm,🤔
Most people are out there to scam their victims monetarily. In a developing country it's possible to experience that the currency becomes obsolete, especially now that digital money(e-naira) has been activated in Nigeria. We need to be on the watch out.

Scammers are scamming people online and offline mainly for money ,mand the most easiest way is by scamming people with crypto currency and i also beleive scammers will multiply in Nigeria due to the launching of e-naira.

 

[Trexxxy]

I'm not so sure what you mean, but if you are talking about the change in currency, perhaps a refurbishment or complete change, then the answer is yes, some countries do this. If you are talking anout a currency being obsolete I don't think so, perhaps it might be considerably weak when compared to the Dollars and the pound.

 

[Kubiat-Abasi]

I'm always worried about obsolete coins that's the more reason I'm always pessimistic to invest but if I had the funds, I'll always opt for Bitcoin.