Bitcoin Forum

Hey guys,

I've decided to open this thread for ask you now if you are forced to choose between bitcoin and FIAT money (eur, usd, yen, etc...) [1].

What will you choose?[2]

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[1] Only an hypothetical case.
[2] With all the flaws and strengths of the two option.

for balance, maybe conduct the same poll on a general site about money/investing. see if they're okay with having fiat.

That's a weird question to ask, don't think we are anywhere close to moment when we would be forced to choose between bitcoin or fiat. Both can co-exist and they probably will for a long time. Besides, the choice is not ours to make, it'd belong to governs and we know very well governs serve a lot more than masses interests :)

I am not registered in other forums, maybe you can open this poll on other forums and after give me the links so I can add them to the post.




Thanks for your post, I have added this line : [1] Only an hypothetical case. I think they can co-exist but the discussion is about if you are forced to choose between bitcoin and fiat oney what will you choose? However I think at one cert point the two things can't exist at the same time, a sort of fight between decentralization and centralization.

For me it's Bitcoins
It's the Bitcoins... Do i really to tell you about it?

Okay then, it's a future currency (even the price is kinda low right now)
And, they're untraceable, and anyone can use it(include students)
So which means students can learn about currencies(or to be specific cryptocurrency) ;)

bitcoin of course

the main reason it's because of its decentralization, i want to have always full control about my money

also i don't trust bank at all, they with your money all the time

100% Bitcoin, why:

• independent of banks, governments or other middle men
• fair, honest, decentralized money
• "they" (regardless of who "they" is) can't steal or freeze or block my account
• anonymous (to certain extent, at least I don't have to identify and shit)
• unrestricted, no region or country or other bullshit limitations
• extremely fast
• extremely easy
• extremely secure
• extremely cheap
• extremely efficient
• no elite who has the exclusive privilege of creating money by the trillions of out thin air
• gives me 100% control of whatever the hell I prefer to do with MY money

I am almost losing my faith in Bitcoin. If the exchange hacks and wallet robberies continue like this, then Bitcoin may never go mainstream.

because I like shopping online, so I prefer bitcoin because it is very simple and easy transaction :)

Exchange hacks and wallet robberies are nothing compared to the scams, lies, cheating, corruption and fraud that banks pull off every single day as part of their regular business.

Sometimes, when you think about it, it's hard to believe that fiat money is still mainstream.

I think both have their positives and negatives so I like both. I think they both can work alongside each other too. Bitcoins are good as more of a universal currency so when abroad you don't have to worry about exchnage rates or exorbitant fees to withdraw money, but cash is still king if you want to make a quick purchase for a soda or some candy or something.

For general purposes I prefer fiat money at the moment, because of high bitcoin volatility. I can't be sure if I should spend BTC now or in 1, 2, 7 days...
Also, there are not so many goods available online that I can buy with BTC, that would be shipped at reasonable cost.

You obviously have never been in Arnhem (The Netherlands), Bitcoin Capital of the World ;)

You'd be surprised how easy it is to do a quick purchase with Bitcoin here, with 60+ local merchants (including supermarket and various food shops) accepting Bitcoin.

Though I really like bitcoins to succeed, still we can't deny the fact that we are still bound to the burdens of fiat money. However, we, as the "early adopters" of this innovative technology laid before us, were the ones who will drive bitcoin to its highest point: mainstream adoption.

I would prefer a mix of both.

Though Bitcoin has its own strengths, it also has weaknesses which makes it NOT a tool for the regular Joe.

Until it gets user friendly and gains momentum, I would keep Fiat as my preferred method. Once we get to the point where crypto currencies become more secure and user-friendly for average user, I'll change my preferred medium to crypto. But then also it will be a mix, not 100% of any of the one.

For now I´ll have to prefer good old fiat since bitcoin has about zero acceptance and impact. But I hope that will change in the not too distant future. Good luck, g

Wow. Never knew a country where merchants accept bitcoin as it is. If only I have BTCBTC to spend, I would definitely include the Netherlands on my list of places that I want to visit. :)

Question, do you think I could survive a week in there with only BTCBTC on hand and never do a even a single transaction with fiat?

I'd have to say bitcoin. Fiat still has its uses, it's still fairly hard to live 'off the grid' though some members of this forum have lived fiat free for a respectable amount of time. In the future I would love nothing more than to have my salary paid in bitcoin though I'd be wary of having to cash some of it out (for bills, insurance etc) due to the price volatility.

Irrelevant. Still not quicker than handing over the exact money in fiat. There's also not that much you can buy there nor would I be able to buy much at all with it in Amsterdam so a few niche shops that accept it in a small area isn't that great.  

You obviously do not know how much FIAT gets "lost" when the government does something. Sadly I can't find a correct link for this. The problem is that this doesn't have a real affect on the country (for example the USA), because they just keep making more. With Bitcoin they get dumped somewhere.
It's quite obvious that this is one of the important issues that need to be dealt with, but Bitcoin can't be blamed. The infrastructure supporting it is developing. It will takes time before we have exchanges that will almost be hack-proof.

I'm definitely for Bitcoin. Here's why:

seashells
(other)

-they can't be faked or printed in excess , must be grown by sea critters , and harvested from beaches , so , proof of work
-proof of work involves walking beaches , instead of sitting in basements and warehouses wasting electricity
-they're prettier than btc or fiat
-the biggest best looking ones that aren't chipped are worth the most , but they come in all sizes shapes and colors , so they work like different denominations
-they're portable enough to be carried around on necklaces/bracelets/anklets/jewelry , so , fashion and money all in one
-they smell like rotting snail and salt , so , that's a plus too

 ;D  ;D  ;D

Bitcoin, feels liberating & safe to be in charge of my own money.

P.S: Are you a real redsnow developer?

Assuming that you just so happen to have the exact amount, readily available in your hand, yes. More of than than not, it's more like: €3.85, ok *opens wallet* wait just let me count.. 2 euros, another one, 50 cent, 60, 70.. hmm do you have a nickel back? Hold on I may have another dime here. Or ehh wait, here, do you have change from €5? Sure, let's see, that makes 3.90, 4, ...etc

I've already scanned a dozen QR codes in that time.

Amsterdam (not to be confused with Arnhem (http://www.arnhembitcoinstad.nl/)) doesn't have as many Bitcoin acceptants yet, although they're on their way.

But in fact, yes there is actually TONS of stuff you can get here with Bitcoin: pretty much all your daily expenses, restaurants, pubs, museum, bicycles, several car companies, cinema, hardware stores, hotels, hair dresser, post office, book stores, massage studios, and some people even pay their rent in Bitcoin here in Arnhem.

Seriously, you'd be surprised just how far general Bitcoin acceptance has taken off already.

I think bitcoin and FIAT has advantages and disadvantages of each. FIAT more likely to trade in buying something, Bitcoin is more inclined to invest means

Why are you asking this here? In this BITCOIN forum of course people are trusting bitcoin and think BTC have advantage over fiat! (So I also prefer crypto-coins like bitcoin)

Because I have discovered that 3 users will choose FIAT money instead of bitcoin and I would like to know the think of more & more users in this forum.



This actual bitcoin (if it will not be "modified") will never become mainstream but it will stay a valid alternative for send large quantity of money (for example) to our relative or parents in other countries (under this point, bitcoin is very amazing and better than WU, moneygram etc).

But in a forum for bitcoin enthusiasts, don't we expect bitcoin to win this poll by a landslide?  Obviously the facts on the ground are that almost all of us still have to use fiat for one reason or another however I expect that almost everyone here "prefers" bitcoin when it comes down to it.  What am I missing?

I will expect the same thing, thanks for your useful opinion (have you participated to the poll or not?) but as I said previously there are 3 users that will choose FIAT money and this is very interesting.


Thanks for your opinion.

I think Bitcoin is the future. I don't know of any vendors in my area that accept Bitcoin at the current time, though my company does accept Bitcoin, so currently I don't get to use Bitcoin. Fiat money isn't going anywhere for a long time but ultimately Bitcoin makes so much sense. It may not be the current Bitcoin that eventually succeeds but Bitcoin will go down in history as the first implementation of the idea.

I guess I skipped it because, to be honest, I didn't understand the point (and I still don't, actually).  Still, good luck with your poll!

Can I ask you why you have replied if you are not interested, as you said "I didn't understand the point (and I still don't, actually)." However thank for your useful post :) and have a great day.


PS: it is a simple poll in a simple bitcoin forum.

I wrote here to ask about the point.  Wasn't that obvious?  I didn't take the survey because I still don't get the point.  (your reply that it's "interesting" that 3 people prefer fiat is a little, well, uninteresting).  Anyway, I'm only replying now because you're still asking me questions.  Perhaps we should leave off here.  Good day to you as well!

In the past one year or so, some 15% of all the Bitcoins in circulation has been stolen from its rightful owners. Coins have been stolen from exchanges like Bitstamp, which are having some of the most professional security features. This has seriously affected the BTC adaption among the general population.

That's a hard question to answer because it would depend on the circumstances.
In today's circumstances, if I had to just chose now - sadly I would chose Fiat only because in todays circumstances I would find it hard to manuver in the world using only bitcoin.

Would I prefer that? Nope. I hate fiat. I love bitcoin. I would rather depend on bitcoin and use bitcoin. So many times a day I say out loud "god this would be so much easier if XXXXXXXX just accepted bitcoin".

So, today, if I were forced: I would chose fiat only because I don't think I personally could survive in bitcoin (rent, bills, food, etc).
If the circumstances were different - I would chose bitcoin.

If I had the power to snap my fingers and chose which currency the entire world would use from this moment from now on....I would snap my fingers and change all the worlds fiat to bitcoin in a heartbeat.

I voted for other, because I will choose gold instead of bitcoin or FIAT.

If we're talking now then it's gotta be fiat unfortunately. I'm in the UK and it's a pitiful scene compared to the US or swathes of Europe. It just wouldn't be possible to function using crypto only.

I wish there was an easy way to turn a set amount of bitcoin into a solid object like a 3D printed block you could drop in your pocket that wouldn't decay over time like some memory sticks. We need a easy way to convert bitcoins into and out of solid, cheap, tamper proof tokens like the chips you see in a casino. Not just move the coins from a wallet to a token but do it in a way that the coins can not be copied only transmitted to a new account and void the coin in some visible way, like changing color or shape. Maybe in the distant future?  

And later, when you want to sell your gold have to find a jeweler or someone who will know what he's buying. Most people won't pay you enough for your gold because they won't know its true value.
Check out the video: https://www.youtube.com/watch?v=ndshbH3qZ6Y

Anything bring me benefit , I'll like . LOL .

I will spend fiat money to buy daily products and use bitcoin to transfer to others.

Fiat is great but anyway I prefer Bitcoin

I prefer bitcoins, because I like gambling and poker.

You know we don't need utility bills and ID verification to withdraw btc in a btc casino and poker house. That's very convenient for us, the gamblers.  :D

And many casinos have instant withdrawal and low fees(even 0 fee), much better than fiat casinos' slow, high fee withdrawals.

I feel like a dirty scumbag using fiat so i would like to use bitcoin all the time but just not possible yet.  There isnt really a debate the gov and banks having control ends up with a less productive system even if their intentions were originally pure.

Gotta use what is current, thus why it's called currency. That doesn't mean Bitcoin won't become common currency one day, it's just not current today. I gotta eat.

I hold my crypto money in CLAM because it gains interest and I can gamble with it if the markets rock n roll to hard.

Use Bitcoin to cash out because there are more people in like to throw fiat at it this moment than anything else.

Fiat to eat.  

I try to use cryptos as much as I can every day buying random shit and paying random bounties.

I don't have a choice. I will choose both. Hihihihi !

Highly recommended :) Although I have to be honest: Arnhem is still an exception here. It's definitely not everywhere like this.

Oh yes, definitely. Easy!

Only fiat transaction you might have to do, is with a Bitcoin ATM, to buy more bitcoins :)

I prefer fiat right now, though that may change in the future. I am a realist and live in reality... not the land of whimsy and emotion. Fiat is legal tender and we could not survive without it under current laws. Even if you attempt to live on only Bitcoin, those you do business with must convert it to fiat and use fiat to buy products and services and pay taxes along the way. Because of existing laws, you can't "live on Bitcoin." Until governments start accepting Bitcoin for taxes, fiat will rule. That said, I see a bright future for Bitcoin.

Thanks for your fantastic reply, and what if I told you "revolution". If we hypothesize that all the people of a country will stop to pay tax because they hate FIAT money... what do you think will happen? I would like to remind you of what revolution means :


- the usually violent attempt by many people to end the rule of one government and start a new one

- a sudden, extreme, or complete change in the way people live, work, etc.

- the action of moving around something in a path that is similar to a circle

Source : http://www.merriam-webster.com/dictionary/revolution

Much to my amazement about that country, still it isn't that efficient to use bitcoins solely to purchase what you want if ever you were in The Netherlands. Not all the merchants and stores in that country accept bitcoin, so fiat still remain king in the current times when it comes to purchasing goods and services (over the counter purchases, that is.)

As somebody said, bitcoin is FIAT money.
So this question is somewhat irrelevant.
Anyway, I prefer bitcoin's ease of use and FIAT acceptability/stability.
Something like BTC but based e.g. on gold would be ideal.

No you are wrong :


Fiat money is currency which derives its value from government regulation or law. The term derives from the Latin fiat ("let it be done", "it shall be").[1] It differs from commodity money and representative money. Commodity money is based on a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange, while representative money is a claim on the commodity rather than the actual good.[2][3][4]

The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used continuously by various countries, concurrently with commodity currencies.


http://en.wikipedia.org/wiki/Fiat_money

It's a mix for me. In my country there is barely anything you can do or buy with Bitcoin. From that point I prefer fiat.

For online activities, buying stuff, sending money, receiving money, it is 100% Bitcoin for me. In fact, it is the only option I use online :D

To be honest it does not matter to me. I would take anything as long as it will give me profit it may seem like I am a hypocrite but let's be realistic. Less than 1% percent of people using bitcoin use it because it is
something they believe from the philosophical point of view. Majority of bitcoin users just want to have pleasant life - and bitcoin is a tool for that just like FIATs.

kind of weird but for me it depends.

I'd choose to get paid in FIAT for my "official" job because I need to buy my every day needs and currently I can't use bitcoins to buy such things in my neighborhood.

as for my "outside" earnings such as gifts, website income, sig campaign, etc. I'd prefer bitcoin.

Accepting Bitcoin is safer, sender cannot reverse the payment or give you counterfied cash. The only drawback is it is harder spendable for some goods like food, but using some BTC to Debit Card service solving this

In an ideal world I would prefer to use bitcoin, but we don't live in an ideal world. I don't think bitcoin or some other digital or crypto currency will overtake fiat in our lifetime but even if it gained 10% of fiat's adoption I'd be very happy. I think bitcoin will flourish and dominate certain industries, though.


How the hell is bitcoin fiat money? It's the exact opposite of it.

From what I could see it is really not so easy to say if bitcoin just another FIAT or maybe a commodity or something more - an evolution of both these aspects.  It is hard to define bitcoin because bitcoins is not physical item thus it can't be exchanged on par with gold or other precious metals. Bitcoin value is based on people's idea of what it can be worth. So I wouldn't go as far to say that bitcoin is 'exact opposite of FIAT".

Of course bitcoin, because it is a revolution.

It's 100% not fiat money by the very definition:

Fiat money is currency which derives its value from government regulation or law  http://en.wikipedia.org/wiki/Fiat_money

I think you're right that bitcoin is an evolution of money and is possibly a hybrid between a commodity and currency, but it is still money it's just that people are treating it as a speculative commodity at present. It could certainly level and balance off in the future to become a more stable currency, though. At least that's what I'm hoping for.

Both, Bitcoin because its the best way to transfer money around the world, fiat because its accepted everywhere. So if BTC was accepted everywhere guess what, I wouldn't need fiat.

You did not frame the poll as to what we may prefer in the future or after a perceived or actualized revolution, but I did state that my preference may change in the future. Nothing is written in stone except our inevitable decline and demise as we age.

My post stands as written. Right now I prefer fiat, because it's easier to earn and use for my currency needs for survival, business and quality of life. I live in the present, but plan for the future and I never place all my eggs in one basket. I believe in diversification so there is never any single point of failure, whether that's crypto, physical goods, precious metals, food stores, fiat or real estate.

Bitcoin may certainly be a revolution of sorts, but then it may not be, and even if it is, revolutions often fail, and revolutions often come with lots of violence. The latter is not something I look forward to experiencing nor have my children experience. The worlds most powerful and influential people rely on fiat, and many of them have committed war, genocide and mercenary actions  to keep their status quo intact.

I prefer a long transformation in hearts and minds to the quick violence of insurrection, rebellion or revolution.

Be careful what you wish for.

I love Bitcoin's speed, anonymity, and usability online, but in terms of face to face transactions FIAT is more widely accepted. I guess it depends on the situation to be honest.

Of course, dollar banknotes. Unlike BTC they are fast, anonymous and accepted by 99% of merchants.

As it stands i need to use fiat but this is not my first choice if i had a choice lol I would prefer to use buttons or marbles maybe rocks but they won't allow it unfortunately. I can't spend BItcoin on everything i need so i am still already forced to choose fiat. If one day Bitcoin can be used for everything that fiat can then i would change my vote to reflect that. Lets face it though they are all controlled by someone, government/big mining companies.

Choosing a little bit of everything. That is what we call diversification. I hope fiat will be completely replaced someday but till then, I still need to depend on it. Also apart from bitcoin, I'm also going for precious metal and mutual funds, that way at least if the economic situation turns bad, you've got yourself covered. 

I personally prefer bitcoin over fiat for many reasons. Too many to list :) but some major ones is, it feels good to have all of your money, in your control. Also, i like how i can access my money whenever i want without having to go through a middle man. I would be happy with using bitcoin as my primary currency, but just more places need to accept it.

Right now I still have 65% of my savings in cash, and I prefer to have at least 50% of my savings in cash for the foreseeable future.  Of course that percentage changes often depending on the exchange rate.  One day I hope that I will have the vast majority in bitcoin.

I love the Bitcoin ideology, but it's tough to top the feeling of having a big wad of cash in your pocket.

Compare it to precious metals: Physically in your possession allowing you to handle it periodically (hold it, kiss it, whatever) versus a piece of paper proving ownership of said precious metals.

Monero, more fungible and private than Bitcoin. Faster too

Unfortunately, people like to act smart around here. It would have taken less than 5 seconds to search the word 'fiat' and open a result in Google.
Another one that I've got: "inconvertible paper money made legal tender by a government decree". There is no way that Bitcoin is fiat, and this is just pure nonsense.
Yes, Bitcoin is the exact opposite.

Sure, primarily used to mix stolen Bitcoin (check reddit). Monero certainly contributes to the whole ecosystem (in its own, money laundering way).

Much better than regulated crap

Bitcoins is the best for me, nothing beats it.