Bitcoin Forum

Look at $100k.

Now imagine owning $100k 20 or 30 years ago. Wow, that was a lot of cash! You could have bought a home, maybe a nice car and still have some money left in the bank.

Today... do the math and see what you can buy ;D

Inflation is killing FIAT every single day.

So stop comparing BTC to FIAT and see the true value of Bitcoin. Don't go "wow" when BTC hits $100k. Because $100k today doesn't value that much anymore. It's still low.

Given the poor FIAT value 1 BTC is terrible cheap these days. $30k in 2009 is not $30k in 2023. You need like $42k for the same purchasing power.

What I mean is... don't sell cheap when you do it because you might never see your BTCs again.

Sell only for your real needs. Get the house or the car of your dreams. Have some money in your bank account. Live your life. But don't keep them all in the bank, those money will disappear day by day.

The governments will keep printing...

The problem here is how to determine the value of Bitcoin? If we do not compare it with fiat we won't understand what is it's worth? I understand fiat is dying gradually. I also understand due to inflation the value of fiat each day is going down. If I compare iWhatt with Bitcoin I should be able to know how much it's value has gone up compared to others assets in the world.

 I don't understand is that without the comparison how can we determine Bitcoin is more valuable that anything in this world. This is the reason we need this comparison. Comparison is the only way we can increase the adoption of Bitcoin.

The concept of fiat currencies will never die. It is too advantageous to the banks, the elite, and the government. Specific fiat currencies will be repriced, and issued as a new variant of the same old concept. 1 Bitcoin=1 Bitcoin, but equally 1 pound Sterling= 1 pound Sterling. What a Sterling pound doesn't equal is one pound of silver, and this was its oriuginal value.

$100k may not have the same value as it had 20 or 30 years ago, but it is still a lot of money today :P
BTC's value and that of fiat is different, BTC has a limited supply and with a high demand it gets a higher value, all of which happens in a decentralized way. Fiat currencies get their value from their government policies, economics, etc, all being centralized. Though BTC is not yet a legal tender anywhere other than El Salvador and even though you can spend it in almost everywhere in the world, it is still in very small numbers, and you have to convert it to fiat most times. So BTC's value still has to be measured in fiat currencies to understand its purchasing strength.
When you sell would not change the value of the fiat currency you are converting to or how much inflation is affecting it, even if you hypotetically sell when 1BTC is $300k or more, if the fiat money is worthless then, once you convert it to fiat it no longer worths anything too. What i believe is there is no need to sell off BTC's completely and move back into a censorship currency, it is better to hold a censorship resistant currency and convert to fiat when you need to.

You are making this too loud, yes, no one should compare Bitcoin with Fiat, but Bitcoin is not better than Fiat, and we have to balance things here. It should be noted that Bitcoin will never survive without fiat, it even has its limit of supply, and it has its times of appreciation and depreciation, so why do some people look at Bitcoin's positive side alone and turn a blind eye to its downside? Both have their pros and cons as nothing is perfect in reality.

From an economic view, I believe that someone that has planned his project to be executed between 2022-2023 by saving in Bitcoin on November 2021 will be regretting while not saving in Fiat.

This means that it's all about our planning, smartness and accurate speculation on the two, it's not by letting others believe one is supreme.

I also think this is very correct. The fiat currency has helped the government stay in control. When you are in control of someone Finances (where you can freeze it at any time especially when the person is a suspect) you have a good control of an important part of that person.

I don’t think the government would be ready to give up that control, Crypto-currency is system that keeps them away of such control, and monitoring.

Let’s take for instance all of crypto-currency becomes centralized today and the government has good grip of a control on the users and crypto still has all of its advantages over traditional means of finances, I bet the government would have giving full nod to it. The issue is that they can’t control or manipulate crypto-currency the way they want to.

When bitcoin was lunched in 2009,it was worthless and you can be given bitcoin as a gift. Gradually, as the years are passing the price of bitcoin started to increase in value due to the limited supply of bitcoin and the massive adoption. On the other hand let's take a look at fiat,it has being depreciating in value since the beginning till date because it is controlled by the government and some economy factors. This shows that bitcoin and fiat value is moving in opposite directions. The more the years the higher the value of bitcoin, while the higher the years the lower the value of fiat. The fact is that we can't do without fiat currency because the government controls it and we are also controlled by the government. Save in bitcoin and keep your daily fiat spending in the bank. The two currencies can't survive without the other

https://i.imgur.com/o5GSgqg.jpg
 source  (https://twitter.com/TheBTCTherapist/status/1651603949168852993?t=UvOThWiIf6qmxdYUgLZZSg&s=19)

proportion of holding USD and Bitcoin in comparison to their worth, the idea here is that when holding usd at hand, you can't escape the effect of inflation over the holdings with you because the economy is not controlled and the market exchange rate remain unpredictable but when you hodl bitcoin, you are the righful owner of the asset, you cannot be affected by inflation, you make decisions on the precise amount to sell a d know the amount the rate you're holding worth.

As long they keep printing more fiat, we keep experiencing more inflation like the case of Venezuela’s currency.

Although that fiat may not cease to exist anytime soon or in many decades, centuries, etc., the value against USD keeps declining over and over that would really create problems for the economy and our way of living.

Fiat’s fundamentals are different than Bitcoin’s. BTC is not likely going to be a reserve currency and a replacement of the US dollar. Both fiat and Bitcoin can co-exist because of its different use cases.

Comparison is good if people good information to compare Bitcoin and fiat currencies.

Purchasing Power of the U.S. Dollar Over Time (https://www.visualcapitalist.com/purchasing-power-of-the-u-s-dollar-over-time/)
Bitcoin inflation vs Time (https://bitcoinblockhalf.com/)
If you want simplicity, two charts below are enough for a good comparison. Both are inflationary but Bitcoin is better. I disagree if anyone says Bitcoin is deflationary.

https://bitcoinblockhalf.com/images/bitcoin-inflation-chart.png
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-U.S.-Dollar-Over-Time.jpg

Though fiat will tend to depreciate with time due to it's unlimited supply and Bitcoin appreciate with time due to it's limited supply and increased in demand, but the truth of the fact is that without fiat Bitcoin has no worth, since fiat is the only means through which we determine the current price/worth of bitcoin at a particular moment.
But when it comes to choosing which for long term investment, I will rather go for Bitcoin rather than fiat whose value prone to depreciate due to government policies.

it will be difficult to escape from price comparisons, especially since this has been embedded in our minds for a long time, for the needs of exchange or trade between countries, comparisons between local currencies between countries are used, for example, rupiah to USD or rupiah to Poundsterling.

Currently, many people compare the price of Bitcoin to the dollar, so the DCA method was created. However, the thing that needs to change is the mindset of people buying Bitcoins. I have started to change my perspective on the BTC exchange rate to my local currency.

I use the method (currently) the price of 1 bitcoin is equivalent to Rp. 415 million, so when the bitcoin price touches 450 million rupiahs, the bitcoin value strengthens, whereas if the bitcoin price touches 400 million rupiahs, the bitcoin value weakens (essentially I prefer the bitcoin price in front of the fiat price).

Cryptocurrency does not take you away from the eyes and control of the government. It is decentralized and privacy crypto and services that do. So many people use centralized crypto and services that hold their data, sells it and gives it to blockchain analysis companies and governments, these people are not away from control, and once they do something the government does not like, they can be censored immediately.
BTC is another option to fiat currency, it does not mean that BTC was created to exist alone, it should and can exists with fiat currencies. If you don't mind about censorship, privacy, control or freedom, then fiat would be a better currency for you, but if you mind about these things you will surely choose BTC over fiat.

Even though fiat money is annually eroded by inflation, it actually doesn't have a big effect on human life. Because the evidence is that people who lived 20-30 years ago could buy food, vehicles, and luxury homes. Nowadays too, many people can afford it. So what I have felt so far, when inflation comes, it will be hard at first, but over time everything will return to normal as usual. So basically even though inflation is approaching, sooner or later all of that will be accompanied by adjustments or solutions.

I think comparing bitcoin to fiat money is not a big deal, because by comparison, it becomes a very effective measure of the bitcoin price cycle. And actually comparing everything that exists on this earth is one very good way to make this world develop, because by comparing anything, we come to know what gaps are in it, and in the end we can cover these gaps.

Honestly, I don't want to compare bitcoin and fiat as both have different use cases. One more thing: although fiat is really bad, we wouldn't be able to live and survive these days if we completely removed fiat from our lives. In my country, bitcoin is not even recognized and used in any store, and just because fiat money is dying, if I get rid of it, I am killing myself too. We don't have to hate fiat, and my solution is: don't hold too much fiat, the rest should be converted into bitcoin or deflationary assets like gold and silver.

bottomline- why not be grateful that we be have BTC in today's generation? because no matter what, fiat will still be the main currency of most financial transactions. use crypto to your advantage. being acquainted in this market will give you also other opportunities to learn or earn something for yourself.
we are lucky to be enjoying a deviation from the traditional financial system. so there's no reason for us to disregard the significance of the fiat system now that we have crypto. fiat is still considered to be the vital component in any financial transaction.

Dying is different from losing value, my local currency is very good at only one thing, losing value over time, I mean very fast, that's why I trust USD for now, but most of my money are already in Bitcoin, it's more risky for me to be out of Bitcoin right now than be into Bitcoin or my local currency.

Assuming I am living in the US right now I will surely have more USD because it's a better currency than my local currency, no problem.

Still holding Bitcoin is far more preferable for me than any Fiat currency combine.

Interesting point actually. Because of this, Bitcoin Master would reduce his support for fiat/dollar and support Bitcoin more to rally for some times. This is impossible without the CREATOR of the Universe.

But I think people should use their profits to buy things that are necessary, affordable and good.  Buy affordable vehicles, instead of flashy cars, that can help you alot in your businesses ("good businesses", by the way). You probably could build houses (movable homes preferably) and rent them out.
You can consider them as investments, and use part of the profits generated from such investments to buy more bitcoins.

One thing I will never do is to be an extremist of anything, I will always balance things and be fair irrespective of how beneficial such thing is to me. For the record, 100% of my cross-border transactions are now in crypto, this is as I trade and hold it daily. With this, I believe that no one should guide it better than me as I have a great deal of interest in it.

Still, I will not let this cloud my judgement, many of you guys are too loud about this, crypto and fiat can thrive together without too much noise as though they are enemies like some would paint it.

I use the two daily, but still use crypto more. Frankly, you guys must know that when the benefit of one is required at times, the other might not be able to replace it, so why the rivalry?

I think, it is a practical approach that fiat and crypto both systems should coexist and compliment each other., as the ruling elite of every country will never allow the current fiat based financial system to collapse to protect their vested interest . There is no doubt that fiat system has failed to address the issue of devaluation of currencies and consistent decline of purchasing power of fiat currencies. These issues can lead to rise in inflation and financial instability. In summary, we should continue discussing these issues and exploring possible solutions and their implications in the long term.

Selling only when you need I think is a bad idea. While you hit it, you may just be selling to profit and make more. Take it as a mission. Just like the traders who treat trading as a business, you may just accumulate BTC as well when opportunity knocks.

The time when the price goes to the moon every time. Sell BTC and wait for the price to dip to its bottom. It makes sense because if you have the ambition to make it in life, you will bear those suffering in order to make money by waiting for bull run.

Limited vs unlimited, these two financial systems are never the same. Comparing the two systems is to see which option is better, and it is clear that bitcoin is the better choice. One similarity between the two financial systems is that both can be used as a means of payment although until recently many users only used bitcoin as an alternative option.

In the case of investment and value, these two currencies are highly volatile. Fiat seems worse because of its centralization, but bitcoin is not 100% risk free either. Both of these currencies are good while one of them is the best and preferred because of its privacy, security, low fees and decentralization.

I don't know what you mean by "extremist" here, but the fact is, you still need people like that, don't you? You yourself know that the existence of cryptocurrency is still in its baby age. A great effort is needed to make cryptocurrency more visible to the public and more appealing to adopt. And when that happens, I'm sure you'll feel happy even if you don't say it to anyone in this forum. And did you know? The contribution of extremists increases the chances of Bitcoin's existence being known to the public in a wider scope.

It's okay to compare it with anything, as it can produce discussion material and generate new ideas from different perspectives. Bitcoin extremists are people who are no longer ashamed to say "I support Bitcoin" in public. And that is a level of confidence that you may not have.

You admit that the most transactions you make every day are using cryptocurrency. That means you are actually an extremist, maybe even more so than others. But you choose to be neutral and become a person who is not an extremist.

It is a fact that bitcoin is very famous crypto coin and is acceptable by many individuals but we also cannot ignore the benefit of fiat currency as we know that in most of the country fiat currency play an important role in countries' economic success.

People often changes the bitcoin currency with fiat currency because bitcoin cannot be directly used for buying something in some areas. For bitcoin Fiat currency is crucial because both are beneficial and we cannot ignore the use cases of one of them so fiat currency cannot be die due to its useful features.

Well, i did have already made out such step or having thing in mind that its never been that ideal on letting those funds or money to park on your bank account and just getting <1% per annum kind of interest
which is totally no sense. Yes, inflation is something inevitable and money printing is something that could never end and we arent blind on that. If people would really be die hard on this one then
we know on whats its cons but we know that people would be still sticking into traditional things no matter what. FIAT is dying every single day but as long government would exist
then it would keep on living. No matter we do hate it then there's no way for it to be eradicated on existence.

Just do on what you do see which is right and would really be beneficial for long term. I did focus more on diversifying out my money through buying assets which could generate out some income
on near future. It would really be able to make me survive if inflation gotten worst or somewhat ensure that i could be able to sustain when that  time comes.

Comparing with the past, I think that, over time, we won't have to think of fiat value for Bitcoin. It will be the same mental process that was when the € was introduced in Europe.
Like, at the beginning it was awkward but with time, we slowly stopped thinking about how much 1€ worth in our local currency of the time. With Bitcoin will happen the same. There will probably be a transition period and in that time span, we will ackonlowdge how much products will worth in Bitcoin / sats only!

It is a personnel choice to decide to hold onto Bitcoin or sell when you in dire need to cash out them. It totally depends on your financial situation and long term goals.
There are millions of traders world-wide who trade Bitcoins on daily basis to generate some income for expenses and there is no way to influence their trading  decisions of such a large number of market participants.The free market operates on demand and supply rule, and never moves in one direction, pumps are dumps are natural part of this system. The Bitcoin price will rise as demand for it increases increase, and this could happen with increased adoption.

Yes, fiat money is always subject to inflation
but in my opinion btc will not be affected by inflation because the supply of btc is only 21000000
You compare the past price of BTC $30k and the current price when BTC was $30k.
In my opinion, BTC is not affected by inflation because BTC has a fluctuating nature, so it is possible that in 2025 the price of BTC has the potential to soar, for example, to $ 200 thousand.
so I think we should not overly compare btc with FIAT money because btc and fiat money are different.

I think it is necessary to compare Fiat with other investment assets such as Bitcoin, the inflation that has occurred has reduced the value of fiat. $100k 20 or 30 years ago was a lot of money, you could buy anything you wanted with that money. The growth in the value of Bitcoin being a true comparison, you need to convert Fiat to Bitcoin if you want to see your money grow.
Need to save assets in the form of Bitcoin if the money you have is not used for other needs, you will feel great benefits in the next few years when you sell it.

An extremist is a bigot, I am not one of them, they could make unnecessary noise which is not mature. Mind you, it's not the work of extremists that got crypto to this level, it's the work of the founder of Bitcoin and the benefits attributed to blockchain technology (sense and creativity). When a problem is solved through a means, people will buy it, it's not by pitching crypto with fiat, it's about smartness in how you deliver it to the consumers.

And for the record, these extremists are only making noise online, most of them have never attracted anyone to crypto, they only like to argue, while the crypto developers, business owners, exchanges and many more created tempting avenues for people to appreciate and adopt crypto the more. Can you see the difference? The attractiveness of crypto and the business models around it are what you have mistaken for extremists' lousiness. It's wisdom and the attractiveness of crypto that is helping the adoption since it has a lot to offer people not the childishness of some extremists that will never contribute something meaningful to the adoption but ti make noise.

What I see above is not a comparison, it's siding one against the other, of which in true practice, everybody knows that we are benefiting from both and they have their pros and cons. Also, it's not about being ashamed, I always tell people to adopt it and will continue to do so. I do everything with crypto now, and like I stated earlier, 100% of my cross-border transactions are crypto aside from trading and holding it.

This means that I love crypto so much and depend on it daily, but will still not be an extremist of it. I know how the two (fiat and crypto) benefit me and I do my best to use them where they could serve me better than each other, not pitching them against each other.

My Bitcoin store is getting bigger each day and I'm planning how to make a business around it, this is smartness.

It's a fair point that we use fiat as a point of reference, sort of assuming it's truly stable, as we measure Bitcoin's value against it. But $20k in 2017 and $20k in 2022 are different because of inflation, although not drastically different (15-20%), which is probably why it's still useful to measure value in the USD, as if its value it's decreasing. That being said, Bitcoin reaching $100k in 2023 or in 2030 are very likely to be two significantly different $100k because of inflation that is lately getting out of control. So it is correct that we should adjust our expectations accordingly, and remember that fiat value changes over the years. Nevertheless, it doesn't mean that Bitcoin should not be compared to fiat at all or that we should stop using the USD price as some sort of indicator.

Fiat may not die along as bitcoin is progressing, the mindset of people towards fiat is only depreciating continually because they are tired of using the same old and traditional means of centralization in their financial economy and they needs change, bitcoin in cryptocurrency is what everyone believed to be the best option to go for in other to stay safe because no other crypto can secure a decentralized network like tgat with bitcoin, not even fiat, everyone want to have control over his holdings and yet make profits, which bitcoin serves both an asset and a digital currency, in the near future to come, bitcoin could have increased more in adoption while more people would have loosed confidence in fiat the more in seeking for an alternative with bitcoin.

I agree that inflation is a major concern for fiat currency and can erode its value over time. However, I also believe that investing in Bitcoin or any other cryptocurrency carries significant risk and should be approached with caution. While Bitcoin has shown impressive growth over the years, its value can be volatile and subject to sudden drops.  Additionally, it's wise to diversify investments to minimize risk and ensure a balanced portfolio.

Yes, take your investment in a different pocket where you can actually hold it safely for a couple of years or how long you wanted to hold it without taking and selling a fraction of it. Investment(s) is exactly different compared to your own savings, the funds belonged to the latter is where you will get your personal/family needs or for emergency purposes. Just as doing business, like mentioned above, it is exactly not okay to get some funds in it as the funds that are generated in business does have its own direction so that it will expand more.

Taking a portion of it is like taking a brick in your own house, time will come, your house will be destroyed without you knowing it.

OP seems like one of those bitcoin puritans who thinks nothing can beat bitcoin. No offense but such kind of thinking doesn't help in any way. Inflation is an integral part of economy so inflation will be there even after 100 years if the civilization doesn't get destroyed by nuke war. Adopting bitcoin can't save us from inflation. Rather it may bring in disaster during a bear cycle.

It's not easy to overthrow a century old system which is very deeply rooted in human society. You want it or not, fiat will be here even when we won't be here. So adopt bitcoin but don't try to change the existing fiat currency system from its root. Bitcoin can't thrive without fiat. That is a very simple truth.

I agree, I love bitcoin but to think that there is no risk when investing in it is a mistake, bitcoin is a highly volatile asset and it should be treated as such, without a doubt the profits that it can generate are amazing, if you know what you are doing, but if you do not know what you are doing the losses that it can generate can be amazing as well, so people need to be incredibly careful when approaching this market for the very first time and only do so when they are completely sure they can hold their coins for at least a few years.

Fiat and cryptocurrency are distinct terms, with differing purposes. Fiat is essential for daily living, while cryptocurrency is a digital currency that offers investment opportunities. As such, comparing the two is not feasible. Fiat cannot be invested, so one cannot expect a return on investment. Its primary function is to evaluate the value of Bitcoin, allowing for comparison. I do not believe it is wise to hold Bitcoin for a lifetime, as it offers no tangible benefits to our daily lives. Instead, I advocate for selling when necessary and taking advantage of the volatility of the market to increase one's portfolio.

It's a known fact that fiat is dying, but to be honest, as long as we continue to value our bitcoin in fiat,  comparing it fiat will never seize, and I agree that keeping all the money in fiat this days is no good decision at all, there are so many challenges the world is facing right now, and will continue eventually, simply because this problems have been since way back, and today, we still have it around, and so will it go into the future - government must print more money  so as to use to proffer solution to some of this problems, but the thing is, the more more of this money is printed, the more it loses value, so indeed, saving in bitcoin is a really wise idea 💡.

Fiat's dramatic inflation is only a problem if you decide to store lots of money under your bed as your retirement strategy. If you invest them, inflation won't be a problem. But Bitcoin has a far worse problem than inflation - volatility. Volatility makes short and medium-time planning impossible. That's the reason why all governments stabilize their own currency to ensure that their economy doesn't suffer from uncertainty of national currency exchange rate.

Both currencies can't be compared, because their principles are completely different. Bitcoin has limited supply, fiat has infinite supply. Bitcoin is decentralized, while fiat is centralized. It's like comparing apples to oranges: both are fruits, but completely different on every other aspects.

But I understand OP gives a valuable lesson to the forum when he says fiat is losing purchasing power along the decades, while Bitcoin is only getting more traction and strength on the market. So it makes sense to evaluate Bitcoin more than fiat holdings. Avoid holding large chunks of fiat at all costs. Invest it into BTC or any other asset or property which is going to get more valuable within time.

@OP we cannot avoid comparing BTC to FIAT currency because BTC is created to be used as money or currency. The difference is that BTC can be transferred without intermediaries while fiat can't be transferred without it.

Aside from that, the Bitcoin community is encouraging people to use BTC or at least make BTC as an alternative and there is no better way to introduce Bitcoin to people but to compare the pros and cons between Bitcoin and Fiat.  You cannot persuade people in using BTC if you cannot point out the advantage of using it.

So you cannot just tell anyone to stop comparing BTC to fiat because even you @OP, compared it already.

This is what I have been doing for years and until now it can be said that my economic condition and that of my family are fine. By applying the concept of saving a few percent in Bitcoins and continuing to accumulate even the small amount I can afford. Cash is there for basic needs and it really needs to be done. I occasionally sell to keep up with the stock of house needs on condition that it doesn't exceed 5%. Seeing the optimism of $ 100K, we will get to that point, with people becoming more aware of high-risk investments and having the courage to make decisions, coupled with large adoption by several countries, institutions, and retailers making $ 100K achievable in a short period of time.

Some times I used to feel that if the dollar's value kept depreciating until it really got so bad, that meant it might affect Bitcoin. Because even if you sell your bitcoin for $100,000, possibly, there is nothing serious you can do with the money.

The high rate of inflation is largely due to the devaluation of dollars, and as a result, the purchasing power of money is not really strong. Since the issues emerged from the federal reserve because of the constant printing of money, if the excessive dollars that have been printed can be retracted, at least it can help to make the dollar value go up. Because definitely, even if you hold your Bitcoin for a long time, as long as you will one day convert it to buy something, it will still not be worth much because of how low the dollar value would be.

This is such an important thing to realize, there is no scenario where fiat will make you rich, you are going to end up losing money without a doubt and that is going to be the case each time. I understand that some people may prefer it some other way but that is just how it is. I hope that we get to do something a bit better, and that should be a bit more towards making it work on bitcoin, like maybe instead of bitcoin relying on fiat, maybe in the future fiat would rely on bitcoin. I don't really know how it will happen, but fiat is not the way to go, it is dying for sure, we are seeing the system crashing hard once every 10 years, and its just making us all poorer and poorer. Its getting to be a generation that will never own anything unless inherited, so bitcoin has to be the way out, or we are screwed.

The problem with Fiat is that the inflation rate is high and that will affect the value of the dollar in the future.
And remember that the government has full control of the dollar, they can print more dollars.
And for the excess dollars will they be withdrawn? it depends on their policy as a government.
Fiat will be affected by high inflation and $100k in the future will not be so big, but 1 BTC=1BTC and it will remain unchanged and will not be affected by inflation.

Bitcoin is the right way out so that it still has value in the future and will not be affected when Fiat is dying.
Bitcoin can be a digital asset that is inherited and will provide more value for bitcoin holders.
it will continue to grow in every generation.
 

But in the end you will still end up using fiat to buy things you want and need instead of bitcoin knowing its not yet accepted in any major physical stores and small vendors.
Topics like this encourage the comparison between fiat and btc instead. But yeah, comparing two different things and different purpose is pretty useless.

You cannot stop people from comparing Bitcoin to fiat currency. The true value of Bitcoin cannot be properly evaluated due to the continuous inflation that diminishes the value of fiat currency. While $100k held great value many years ago, its value has significantly decreased today due to inflation.

Your post is factually correct however there is one thing that I am curious about, being the basis of the entire thread that people are comparing bitcoin to fiat as if it were similar or the same...


Can you reference some posts of people comparing Bitcoin to FIAT? I have been participating in the forum for many weeks and in my time I have not seen a single person say or elude that Bitcoin is in any way the same or similar to FIAT (or else, I would have quickly corrected them).

Saying that fiat is dying every single day is a bit extreme I would say. Don't jump to any conclusion. If it is dying, it won't happen anytime soon. And we don't actually want fiat to die overnight. Yeah, inflation can wipe off the value of fiat currency over time, but it's not like it's on its deathbed or anything. Measures are taken that would reduce the inflation (for short term, i know..). If fiat does die overnight, it would be a chaos. I doubt crypto would also be able to save us.  Fiat and bitcoin are not mutually exclusive. They will most likely coexist, each serving different purposes. Right now Bitcoin is an investment for everyone, while fiat is the most used currency for day to day transactions.

Well, you started your thread by comparing the devaluation of Fiat currencies to Crypto currencies... right?

We compare Crypto currencies like Bitcoin to Fiat to highlight it's flaws, because we need to educated the uneducated on the advantages to using this technology as an alternative to Fiat currencies.

In any way, if you "save" Fiat currencies in the correct way, you can beat inflation and still grow your wealth... but it is a constant fight to beat inflation to protect the value of your money.  ::)

Thanks again, you are truly one of those who are going to hold bitcoin for a long time. And if I'm not mistaken, you said before that you haven't sell any single bitcoin and you are still accumulating after so many years.

And I do agree that FIAT is dying, just like what we are seeing right now, many banks are going bankrupt, people are withdrawing because they know that their money is not going to worth something because of inflation.

So let's wait for BTC to become $100k or more this next bull run. And diamond hands like you for sure are going to be richer... again.

We measure the worth of BTC through fiat. The worth of gold is measured with fiat, and the worth of stock is measured with fiat so I don't get why people feel like fiat should be eradicated or something. Fiat currencies have their downside, inflation and centralization have been the biggest problems of fiat but we still need them.

Exactly.
People who invested in Bitcoin during the ATH will be regretting because they have made losses and to them, it would have been better if they just saved their money in USD. At least it will still be worth something.






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Not all houses plus car you can use that amount to buy and charge will be left in your hand. though it will go for a long way.



Inflation affect every currency in the world and not only on fiat currency. It affect also bitcoin because since bitcoin can not be use to buy things directly, you must change the bitcoin to fiat current before using it to buy stuff.

OP can you use bitcoin without the fiat currency? When you are advising people, you have to think the both side of the advise. comparing BTC with fiat is worthless though everyone has their own value in their domain.

Yes but when you are dieing what will you do? will you keep your coins there and die go? do well to advise people.

In what time the real needs will come? there is always a need to settle at all time. And if there is no spare cash at hand, then you are to sell it.

Anyone with Bitcoin knowledge would know enough that Fiat and Bitcoin are not related by ideology, not by principles or policy, the only thing they have in common is the means of settling debt, Fiat could depreciate after a long period of time while Bitcoin could depreciate for a short period of time if there is tension or any form of FUD but it can appreciate to beat inflation 10 times faster ahead of inflation, I think the topic should have been don't save money in Fiat, rather it should be in bitcoin.

The government will print because the system is designed in that manner, the policy of FED allows them to do that, they can go brrr on their machines anytime they like but Bitcoin protocols are static, you can't change the genesis code, the 1 million will remain 1 million in hundred years to come, that is how it will be till then, no proposal can nullify that rule of Bitcoin.

It's really hard to compare the value of fiat money overtime without adjusting it for inflation. A 30 year time period is a very long time if you assume a 2% inflation per year. The problem is if you don't invest your money for such a long time and lose purchasing power every year. I still remember in the 90s where 1 million USD was a huge sum and it actually made a difference. Today a family owned apartment in a good neighbourhood can already make you a millionaire, even if you have no money at all in your bank account. It's best to get away from fixed numbers, like saying I need 100,000 USD in my bank account and I will feel rich. It's better to look at your wealth in terms of what you can buy with it. Everything is relative to the price of goods you have to pay. Another solution would be to move to cheaper locations. With 100k USD you won't get far in Singapore, but you will feel like a king in Philippines.

The fiat is continuously losing its value due to inflation and governments printing notes to counter it and keep the monetary supply up.We have seen how the strong currencies around globe are collapsing and banks also facing the same issues which makes people more attractive to decentralised coins like Bitcoin and they don't have any comparison at all.The limited supply makes btc more important unlike the fiat which governments are printing more and more making the value of existing currency low.The fiat is losing value but still we can't say it will completely vanish but they have digital modes for it but the same concept of fiat.

It is true that Fiat currency loses value almost every time but I think it is better to be in the two currencies than one, it is possible to have bitcoin and to have USD because you can never tell.

bitcoin goes up and down and it is the same thing with USD, one cannot really survive without the othe,r I know many people will argue that this is wrong but the majority of Bitcoin holders get into Bitcoin using Fiat currency.

The only currency I won't be getting involved with is CBDC, because this currency is going digital and privacy first, and I won't be surprised to start hearing how people are getting spied on because they use CBDC to fund something.

CBDCs are a big no, people have been highly critical of the social credit system which is being rolled on China and with good reason, but CBDCs are going to have pretty much the same effect, as if the government does not like that you are buying more alcohol than what they think is the right amount they can simply deny your transaction and then you cannot buy what you want with the money you earned, but then things get more dangerous as political dissidents could be made destitute in seconds as they can block and steal their wealth without any due process.

But Fiat and BTC have the same purpose, yes?  BTC main purpose is being a currency that enables freedom of transaction where there is no need for third party.  it was created to patch the flaw of fiat currency and enable currency be sent without intermediaries and without boundary.  So we really can't avoid comparing this two Fiat and BTC because at some point they have the same feature.


Well, as we can see, we still need fiat currency because Bitcoin is yet to be accepted in most local market.  We can't buy anything if we go shopping and there is no store that accept BTC.  So I agree, that we still need to have fiat currency even if there is high inflation out there.