Bitcoin Forum

read the first line, stop trading it to fiat you fools, has satoshi?

https://ip.bitcointalk.org/?u=https%3A%2F%2Fsteemitimages.com%2Fp%2FMvwLKy3SfvJwXFKCRMDAFrt961WwjFcRARKpjw9BL%3Fformat%3Dmatch%26mode%3Dfit%26width%3D640&t=600&c=RVDrFb1c6tsAHA

read the first sentence.

It sounds wonderful. But until the point you'll be able to buy your bread, meat and vegetables directly with Bitcoin, financial institutions are a necessary evil.
You may ask why is that. Because if we don't ever reach the point you'll be able to buy your bread, meat and vegetables directly with Bitcoin, everything was meaningless.

   This is an utopia for now. To 1 Btc would be = 1 Btc crypto should be adopted everywhere.
For now we are not even close to that.
   Also you forgot that sellers and buyers still calculate in dollars while they see crypto price for a thing or service.
Like, when I put a picture that I pained on sail and say the price is 0,1 BTC people ask me why it is so expensive, cause of they see not 0,1 BTC but 550$ (by current price).
Those two things that I called will never let 1 Btc to be = 1 Btc.

I think if you actually read some of Satoshi's posts, you'd find he had no problem with the idea of buying/selling Bitcoin for fiat. My impression of his vision for Bitcoin was not to upend the fiat system, but complement it.

Take these posts for example:



Anyway, traders are doing us all a great benefit by aiding price discovery and providing liquidity for people like you to accumulate BTC. We don't want less traders; we want more of them.

If I value 1 BTC at one hand job, but you value it at ten, how do we settle it?

You can hate dollars all you want. You need some way of measuring buying power, which is the point of any cash, and the dollar is the most convenient way of doing that.

Many traders will be playing it against dollars to gain more BTC. And ultimately I don't care what anyone else does with it. That's their business.

Posting this all over the forum will not make it come true.

https://bitcointalk.org/index.php?topic=5140043.msg50925534#msg50925534
https://bitcointalk.org/index.php?topic=5140017.msg50924868#msg50924868
https://bitcointalk.org/index.php?topic=5132180.msg50924853#msg50924853
https://bitcointalk.org/index.php?topic=5140001.msg50924845#msg50924845
https://bitcointalk.org/index.php?topic=5139825.msg50924842#msg50924842

It is a process and a long one. Right now, fiat is the standard and we can only measure the value of bitcoin thru fiat. Bitcoin needs to slowly become the standard before we can see 1BTC=1BTC.

Dollars will continue to exist, they will just continue to go down in value vs btc. Use dollars to buy stuff, keep your wealth in bitcoin - so far this has been a road to go from rags to riches, will it continue? stay tuned...

To use only bitcoin and not fiat we need all shops and all services to accept bitcoin and only then e can buy with bitcoin or sell something for bitcoin but even so not all people will can use bitcoin. But you can store money and buy bitcoin and hold for long.

I wonder whether there'll ever be a time where the idea of keeping your money in dollars is as whacky the idea of doing it in BTC is now. It might be a bit of a messy world if it ever happens.

It's weird the amount of people who only save in fiat. Right now there's a universe of options to attempt to protect your buying power. Very few seem to pursue it.

Dollars don't solve that problem either. I might value 1 handjob at $10 but another person might think it's worth $100. This problem is more about subjective value than the currency you're using.


To be fair, I think he's talking about an alternate universe where Bitcoin is actually widely used as a currency.

Bitcoin could be used to measure buying power just as easily as dollars. It's just so seldom used as a currency that merchants and businesses have no reason to price their wares in BTC and consumers have no reason to measure their wealth in it. Everyone references dollars because that's the most relevant reserve currency.


Very few people understand on a fundamental level how our economy works and how much money is being printed. That's the greatest advantage that governments have: people assume macroeconomics is a matter for the experts, not the plebs. They just aren't paying attention.

Everyone understands their bills going up. What I find very strange is that you hardly ever hear people questioning why or how.

A mate of a relative inherited £250,000 a few years ago. She felt too unsure about investing it so it has literally been sitting in her current account ever since. Just a 1/10th of it in a decent fund would've easily saved it from inflation and made some profit too. I'm pretty certain it's going to sit there until it buys no more than a long weekend in Morocco.

Indeed keeping FIAT just to sit upon it..... dumbest what a peep could do @least buy something that contains value.... 

Well, she did buy one thing. She bought a holiday caravan which is big static temporary home clustered around other ones on someone else's land.

In the UK you're forced to buy the caravan from the park it's placed on. You have to buy electricity and water through them. You're forced to replace the caravan every ten years no matter how good the condition is, and of course you can only buy a new caravan from the park.

If you attempt to sell it they can refuse to accept the sale and pay you 10% of what you paid for it. You also have to pay £3-4000 a year for the honour of being on their land.

I think poverty awaits her. Some people are born for financial doom.

1 BTC may be worth 2 BTC. It's all a matter of negotiation. Bitcoin's volatility is not bad, it's excellent. That means there are thousands of people trying to figure out the value of this asset. Eventually, this volatility will decrease, because we will have a clearer idea of the value of a Bitcoin in relation to other goods. But even the value of the dollar varies, in relation to gold, to the Euro, to the price of beer.

That doesn’t mean you should call people fools for trading their Bitcoin for fiat, cause if we are fools , then you are as well a fool. I’m very sure that you must have sold your bitcoins for fiat, you must have done it a lot of times and for sure you still do it till today.

Not everyone here comes for the purpose of using bitcoin as a means of making transaction , there are people who just wants to invest in it and that’s all they want to do, they just want to make the money and nothing else.

I always dream of it, where everyone is not using fiat anymore and the price of BTC is BTC itself so there will be no more attack on Bitcoin price. This condition in my opinion can be reach only if people 100% believe in Bitcoin and no longer using fiat to buy or sell product and services. It can take a long time but It's highly possible in the future.

At that time,there were no cryptocurrency exchange platforms and no online crypto wallet services.
Satoshi's vision was too utopian and kinda wrong,I guess.
OP,your title is complete nonsense.Off course that 1btc=1btc,but the most used global currency is USD and we have the habit to evaluate everything in US dollars.That won't change. ;D

Questions like when or how will come up afterwards. So how are you going to answer those.
Will it really be possible for government to be in peace and unite to make it as a law accepting bitcoin as a new currency for all with a high value?
Up until now it is viewed as commodity just like gold.
I dont think it will happen soon. With merchants having doubts it will be impossible to buy things with just BTC in your place or mine. It needs some hard push to make it happen and be like a law.

But I think we are trying to bring third party to bitcoin transactions and the p2p was even the major ideas and reason why we have cryptocurrencies.  Many people are trying to place bitcoin as stocks and commodities and doing that will reduce bitcoin values as currency.

That will be a program of generations to generations or when artificial intelligence completely takes over the earth, or better still when these governments has been wiped out and we have just government that would believe in the use of technology alone for everything, otherwise, it may just be a wishful thinking.

The earth is filled with over 7 billion inhabitants, we still need to consider the global literacy rate necessary for the world to fully adopt and use cryptocurrency alone, it won’t be possible for us to from FIAT, and government may not support the idea of dropping fiat usage for cryptocurrency completely, they will overtime support the use of cryptocurrency, but will never abolish the law that created FIAT.