Bitcoin Forum

In my country presently, we know how important cash has become, the government decide to renew our Fiat currency and it's not in circulation yet, for some reasons, some people believe that it was intentional because they don't want some bad actors to use Fiat to rig the ongoing election in the country.

But since all this mess have started, many people are suffering, and I as a person have no hold the new fiat Note because I can't get a hold of one yet, and just because many stores prefer Cash than digital transfer, this have make me see how important Fiat currency can be.

Some people will say that Fiat is trash and they keep all their money in stable coins, the truth of this is you are doing things wrong, the stable coins in crypto space are backed by nothing, they can vanish into thin air if the government doesn't want stable coins to exists.

I believe that all stable coins are easier to trample on by the government, more than other crypto projects in this space, Fiat has it's usefulness, let's stop deceiving ourselves, the first time I ever purchased Bitcoin I use Fiat and I believe this is the same as everybody on here, unless you mine your own Bitcoin or get paid in Bitcoin working online.

Do not trash Fiat yourself when it's actually needy, crypto and Fiat must co-exists until the government decide to go digital with Fiat themselves, and Fiat is not trash.

I agree with you, we all need fiat money for our everyday life, without it it's very hard to function normally in most countries. But there is a difference between using fiat money to pay our bills and expenses every month and saving large amounts of money in currencies that are losing it's value over time. In my country we have at the moment inflation rates of 8-10%, while the bank pays 0.5-1.5% interest on savings account. It makes no sense at all to save money at the moment in a bank account. I would recommend anybody to invest their money instead, stocks and cryptos are two good alternatives. As long as we don't pick the most risky assets the risk of losing a lot of money is not that high. And in case we need some short term money we could always sell some of the assets again.

Then who said fiat trash.
Fiat money is legal in every country, even crazy people don't want to say and throw away fiat, what's more for sane people, crypto is currently still being exchanged for fiat, not all shopping facilities and places in every country carry out transactions with digital currency, fiat is the main basis as a sale/purchase transaction of goods, crypto is only a means of digital currency to be traded on the internet, there is no crypto internet access there is nothing to do, fiat remains, if the internet in this world perishes, fiat will still be used.

We all know fiat is a source of needs and the economy of people around the world, the economy develops thanks to the exchange of fiat with goods, not with crypto, so whatever happens fiat remains as usual.

Hi @YoSHIE , many new crypto fan boys believed that stable coins are better than Fiat money, I have read this many times online and people in my country that are new to crypto also believe the same.

It's because the stablecoin is also here to stay while also the government is trying to digitize everything governments are also launching CBDC. Of course, cash is still here and will still be useful.

Every country today has an economic crisis. We still don't know though where our governments will decide what to do either to ban cash or crypto, best option, however, is just to keep the cash. The advantage is still in cash but keeping BTC is safer.

Inflation in my country is 41% but still we are dependent on fiat for daily living. Our local currency is going down and there is scarcity of USD in our country. Bitcoin is no doubt a good place to save your earnings but only problem I see here is price volatility that worries me. You have 60$ in you wallet in the morning and by evening they are gone down to 57 or 56$. I think we are running out of options for savings. Despite all odds bitcoin is best option to save your money.

The economy of some developing countries is cash driven. Their financial transaction is mostly through fiat because online transactions are either low or non-existing. In such countries, you need cash to buy almost everything so keeping your money in cryptocurrencies might do more harm than good. Bitcoin can be used as a hedge against inflation or an investment tool but in these countries fiat is king. Government policies also affect the use of cryptocurrencies. Crypto-friendly governments will also promote the use of cryptocurrencies. And from some indications, the Nigerian government is not friendly.

If the whole world go digital, then maybe you can say that cash is trash because obviously, we don't need that paper in our hands. But in as much as majority is going cashless and paperless and digital, still though some countries like here still uses cash, specially in developing countries.

So it's not as trash as crypto fanboys would think and I guess this is just exaggerated and out of proportions.

That's why I have also some cash in my money when I go out although a I have our local cash app here, like Gcash will some money as well in case the store chooses to accept digital payment. But base on my experiences, small stores prepare cash although they have that option to accepts Gcash payment, I'm from the Philippines if someone will have to ask.

For those countries that have a high inflation, hyper inflation it means that cash there is really trash. But with exception for those countries that have a better economy, nobody says that unless a hype boy that just got in to the market.

And that was like me before when I'm too optimistic of what I've learned and known throughout my entire discovery of the cryptocurrencies. Well, they've got their own uses and it's up to us how we'll look at it.

You are using "cash" and "fiat" interchangeably - that's not correct. Cash means physical fiat money, fiat encompasses all forms of government-issued money, including cash and digital money. I even count stablecoins as fiat, especially the backed ones.


It doesn't even matter that some crypto enthusiasts bash fiat and proclaim that crypto will replace it, this is not happening and very unlikely to happen. There is no momentum, crypto systems have too many flaws to make them a viable mainstream replacement of fiat.

Cash is still king on a lot of places, and will be for a long time. Although the government is actively trying to convert everything digitally to make it easier for transactions to happen in this modern world. While keeping cash in bulk brings something negative because it lessens the 'value' of what you own, it's still better to keep them with you especially in places wherein digital transactions aren't possible.

Cash will remain to be useful for a long time. People aren't ready to go against it immediately.

I will share a picture and look at this, US is the world biggest economy in the world the inflation rate is up and down and the value of US dollar keeps declining and of course, it happens to other forms of other fiat currency, and whether you like it or not the cash pretty much still there

https://advisor.visualcapitalist.com/wp-content/uploads/2022/02/inflation-share.jpg

Cash will be king when we get crazy 6-7% fed rate. Even right now cash is king if you are trying to buy a used car. I remember for the last 5 years or so, if you went to a dealer and told them straight up "I am going to buy this car today with cash", they would of told you to get lost. Because the money was in the financing for them.

Right now. We got overpriced cars sitting and even if you got good credit, you will get a 10% APR on a used car. So the dealer will need to lower the price slightly just to get you to finance it because they need to take into account the APR. If you go to a dealership and say you are a cash buyer they will love you because they know you won't be set off by the high interest rates.

Fiat is not junk money, but everyone knows that saving in cash is not profitable because of inflationary pressures that can cause fiat values to decline. In addition, in some countries such as Zimbabwe and Venezuela, cash is so worthless that it is a sign that fiat is valuable in the right country in the sense that the exchange rate is high.
crypto is a storage that is being enjoyed by many people, besides being profitable, transactions are also easy and fast so that many people switch to the world of crypto but the theft rate is very easy in the digital world, prices are less stable, and the value of money is difficult to predict. Regardless of which one is more reliable, it's back to yourself, but everything has benefits and uses.

if many people know that fact I believe they will change that stable coin to bitcoin soon. but, many people don't know the truth and still think the fiat is stable, maybe more stable than gold self.

The government try to brainwash people by making it to digital to camouflage it, they create e-digital money, e-wallet, and anything where all those digital is still backed by fiat. of course it's useless, it's not changing the fiat system. CDBC is still (backed) by fiat, people who believe it (crypto) is stupid.

I agree with you. I am not denying that fiat currency is depreciating every day, but to say crypto replacing fiat is something that will never happen. Fiat will remain king, will remain the measure of all other assets, and we will never separate our lives from it. I disagree with many people that, they still use fiat every day, but they go on social networks to smear about fiat, saying fiat is trash, I really don't know what kind of person they are. I am a crypto investor, I still hope crypto will grow further in the future, but I don't want to badmouth fiat because I still need it for my life.

I don't know who but I heard both things.

Cash is king is what has traditionally been said, because those who have cash can easily exchange it into goods and services, unlike those who are poor (have no cash) or who have their wealth in other assets that have to be converted into cash in order to be able to spend. Let's think that it is very typical to have people's net worth in their homes and in a retirement fund, which are difficult to access and take time to convert into cash in order to be able to spend.

On the other hand, cash is trash from the perspective that it depreciates enormously, as has been mentioned, so to keep a lot of cash makes you poorer.

Knowing these two things it is best to have a combination of cash for spending and then investments.

Holding cash has its own benefits. First of all, cash is a position. It provides you an opportunity to buy cheap assets and there are always cheap assets around. On addition, crypto isn't as adopted as we would like to believe. The world still runs on FIAT and even though it is centralized, it is way faster and easier to spend. Most people will just prefer to swipe their credit card instead of dealing with crypto. This might change in the future but it is the way it is for now.

Nope, I never say Fiat is trash because I hold stable coins, actually fiat is trash if you compare with Bitcoin and yeah we're know how shady is stable coin, that's why I still recommended to hold fiat rather than stable coin.

I wouldn't deny if me and most people in this forum still use fiat to pay daily expenses in our country, but I'm not holding fiat, I will just convert my Bitcoin to fiat whenever I need fiat. If the stores in my country are accept Bitcoin payment, I will directly pay with Bitcoin without need to convert to fiat.

Sure, I can agree that stablecoins have an element of shadiness to them. I definitely would not agree that established stablecoins are any more shadier than fiat money though.

# Maximalist mode on.
I think that everyone should grow a pair against volatility and just use Bitcoin. Businesses need to accept it. People need to learn how to use it safely. If everyone had this change of heart overnight, fiat would be dead.

No, I agree....

Fiat (cash) has many uses, for example :

1. Rolling up a banknote to snort Cocaine.
2. Stuffing a stripper's panties with $1 bills.
3. Buying drugs from the drug dealer on every street corner.
4. Paying bribes to government employees and making it almost anonymous.
5. Burning it when hyper inflation creates 1 Trillion dollar notes. (Zimbabwe)
6. Using it for toilet paper, when I run out.
7. Growing bacteria and experimenting with all the filth that it spreads. (Take a swap and grow some cultures and see what is on there)

These are just some of the interesting things that people can still do with cash, but I can add a lot of worst things if I really wanted to extend that list.  ::)

Fiat money is currently still the most dominant type of payment. So there's no reason to say Fiat is trash.

we will probably still use it in this century and even longer. even when the CBDC is published in every country around the world evenly it will not make the old fiat eliminated. especially if there are still many older people who are unfamiliar with digital technology. then fiat is the only type of payment they will use.

And when talking about stable coins, of course it is not safe to use and store for a long time. because stable coins do have quite a high risk.

And when CBDC has been issued in every country, we don't know what the government will do with stable coins.

The current situation in my country has made me realize how useful cash is. Imagine been without cash in a country that doesn't have so many people who understands how to use digital means to pay and also accept payments it'll make you rethink all the trash you have been saying concerning fiat, for now I think we need fiat as much as we need crypto in my country but as the adoption increases then we can tilt to the use of crypto as a payment method fully.

Without fiat, exchange transactions with the barter system can be expected, even today it still occurs frequently in traditional markets.
Do you think it's primitive? Of course it's rather primitive in modern times like this where trade already uses monetary media, we can even expected that some people no longer use physical fiat for their daily needs.

Cash is not trash in my country, even cash is king for daily trade transactions in traditional markets and even in modern markets. It has survived many years and may not be replaced in the long term given the ever-high demand and interest of users.

I don't think I've ever read or heard on youtube that the Fiat is no longer important or that it's going to crash. is there
All countries know that in this era Fiat is important because it is often needed in people's lives.

        And Fiat cannot lose in these opportunities. And one more stablecoins are also okay as long as they are not under a centralized exchange because for me stablecoins under DEX platforms are more stable, this is just my opinion.

Isn't it hilarious how certain people disparage fiat currency while simultaneously believing stable coins to be the future? Stablecoins is shit. They can be easily manipulated by anyone, and they have no underlying value. And of course, fiat currency isn't all bad! It's actually quite useful. We can not live our day without fiat

Nevertheless, let's not forget that investing in bitcoin is clearly the smartest move. It's not just an inflation hedge; it's practically a religion. The more patience you have with it, the more grandiose the rewards. So, my two cents: keep a little fiat handy for small purchases, and pour the rest into bitcoin. You won't regret it, my friend.

What you said is not wrong, and there is one thing you did not mention. Your family and you are using fiat money every day, and without fiat your grandparents and parents wouldn't be able to support you today. I think you wouldn't be born if your family didn't use fiat, and fiat can do so much more. So, fiat is not trash, those who are using it every day but slandering it, they are trash.

IMO people who choose stable coins over cash are idiots. Stable coins are issued by a company, so you're adding another layer on top of government. You're making everything more difficult for yourself and taking more risk in the process.

Cash - you depend on the government and on your own ability to keep your money safe.
Money in the bank is one layer on top of it because instead of trusting the government and yourself you also have to trust the bank.
A stable coin sis the same but even worse because you're trusting a much smaller entity than the bank to keep your money safe. If the company like Luna goes bust so does your token and you have nothing.

The best out of all of it is bitcoin because you're subtracting all those secondary layers. All that's left is your ability to keep it safe.


That's correct. It's almost impossible to stop bitcoin, but it's very easy to stop a regulated exchange or a stable coin.

Of course fiat money is not trash. Fiat money is still very much needed even though sometimes there are many users of digital money. But fiat money still comes first. Had there been no fiat money, it would somehow be the exchange of goods or the current economy.

Cash is very important in daily life. Considering that prices are constantly rising, you need constant cash flow and you have to constantly spend. It might be a good strategy to make sacrifices, raise money, buy limited assets and wait patiently for this process. It seems that the inflation of the cash can no longer be stopped, the arrow has come out of the bow and it's been too long, the target is near.

I still use my Fiat as usual and don't think of it as trash. Even though I still use Fiat to buy crypto as my investment, I have no plans to leave Fiat. After all, we are in our country that uses Fiat in public places and we shop using Fiat even if there are options to use credit or debit cards or other digital transactions. And even though there will be inflation in many countries, people may still use Fiat unless all countries agree to use bitcoin as an alternative when the transaction can not use Fiat. That will change everything related to payments.

Cypto is new type of currency which in its journey has been adopted as legal tender in several countries.
After all, not all crypto are adopted as means of payment because most of their types have no real use cases. Of course, in this case bitcoin is a type of currency that is being discussed and adopted as means of payment, but in many cases this adoption is still contrary to regulations from jurisdictions between one country and another.

Fiat has been around longer than crypto, there's no denying that it has more use cases although some things are no better than bitcoin. Fiat is a centralized currency system, whereas bitcoin is a decentralized currency but both have real use cases. While I still need fiat to buy bitcoin or crypto, and I also sell bitcoin or other crypto to fiat and use fiat for everyday financial transactions.

Cash is not a trash but not controlling the spending of it is a trash, there have been possible occassions whereby the cash in circulation is too much which gives everyone the easy accessibility to using it for many social devalues like trampling under feet while spraying during ceremonies, using bulky cash in paying for kidnapping ransom and many other forms of taking bribery, the government have discover these abd has taken steps to shut down the means through all of them were been perpetrated by reducing the cash and encouraging a cashless policy by the people, starting it may be rough because majority of the people aren't used to it, but with time, its going to be get used to.

That would be solid advice if (and only if) you're not going to need that money in a week or even a few months.  If you invest in stocks in my country and make capital gains, you pay a higher tax if you held the stock for less than a year--and that's on top of the risk of losing money because of the inherent risk of the stock market or crypto or whatever you choose to invest in.

What I'm saying is that keeping cash in a savings account that pays a lower interest rate than inflation makes sense as an emergency fund or just to keep money you know you're going to need.

And oh, if I had a nickel for every time I've heard "fiat is worthless" coming from the keyboards of gold/silver bulls or here on this forum, I'd be a wealthy man.  It isn't truly worthless until you're in a hyperinflation scenario.

Position? Hmm, not sure what does it means but I agree that holding cash is ensuring the convenient. It was like we are saving so that we can have something to use for laters. One good use would be for investing. Lots of assets are expensive but good thing cryptos are invented because cryptos are divisible which means we can be able to invest on them even at tiny amounts.

Cryptos are not a new thing anymore and the adaption for them is actually wide as one can imagine but the majority of the countries are of course still using a fiat as their main currency. Both fiats and cryptos has their own advantage. For those who know how to use both fiat and crypto they can say that cryptos are also fast and easy to use.

Many of them have harsh arguments for fiat money and they oppose future inflation but it's not going to be one way if fiat is absolutely rubbish to own. Some countries still haven't legalized crypto as a legal means of buying things in real life but the government hasn't banned crypto to be owned by their people like what happened in my country.

So, in this case, a crypto player will definitely have stable coins in their portfolio, so it's not wrong to make a big decision when the market is falling, and it doesn't mean they have lost trust in fiat funds.

I agree that Fiat is important.  I believe it offers more value than the majority of cryptocurrencies that were created just to collect money from investors.  If cash is trash then why people asked money instead of cryptocurrency.

I also one of those who agree that Casn and Bitcoin should co-exist.  Since Bitcoin isn't yet adopted some  then people can just enjoy the benefits of holding cash.

I always considers that each has their own advantage like how fiat is very convenient in being used for real life and the fact that its volatility isn't that significant compared with cryptocurrency in general could also means it could save your wealth from fluctuation, the fact that usdt and the likes are having market capitalization is because regardless it's form that is digitalized form of fiat, many considers converting their money to fiat still effective in saving their wealth from the volatility.

Cash is not trash if you have taxes to pay, if you have immediate use of that cash in the financial year then retaining cash to pay fully all bills is very reasonable attitude.   Its a slight gamble to expect income to provide the bills payment going forward, sometimes income from various sources may falter so in that sense cash retention can be vital.

I know Kakmakr meant 2. and 3. as a joke but actual cash economy in drugs legal and illegal and various other immediate services is a large part of economic turnover for the most common elements in the economy.   If it matters to a million or more people then it matters, beer and coke matter and the price being affordable is a good measure of economic outlook.
    Someone on the same basis proposed the Big Mac price index to measure inflation across the world in the most simple immediate way, how people eat or are able to eat conveniently in a very easily comparable priced way.   Is Big Mac a proper meal is not the important thing, its the regular common instance of a transaction which cash is describing within the economy.


I fully agree people should not hold all value in one asset type.  Own some of each, own a store of food even that keeps over time and is a kind of usable commodity.   Dont try to speculate too much on one thing as any commodity or asset can reset in its price and supply can vary by harvest for food or other dynamics in an economy.
   We can probably all agree having all cash is a mistake and will make a person poorer, governments dilute value heavily due to too much debt and very few countries protect their people from inflation with any great success.

I would say that cash is irrelevant these days. Look at the world and how the money exchanges hands, I bet that even crypto is bigger than cash at this moment, because not many people really use cash, and that's the issue. Sure we use fiat, but fiat and cash are not the same things, you could bank wire transfer some fiat, or spend your credit card to buy something which is quite common these days, but you can't really make any type of cash interaction that easily, it has to be face to face.

This is why I believe that cash is already trash, it was trash even if crypto didn't existed, it just doesn't make sense to me at all to use it at this day and age.

There are no bad tools, but sometimes you don't know how to use them.

Fiat is also an instrument, only financial, with both positive and negative sides. By the way, btc is also not perfect and has its own characteristics.

Despite some prejudices, fiat is the most anonymous currency that doesn't allow to determine who paid with them and where.

Fiat is absolutely not suitable for accumulation, unlike btc, but it is good for everyday needs. You can pay anywhere and with anyone, within the country and doesn't require a terminal, mobile phone, Internet. Even in the deep forest, you can pay fiat.

You should not disdain certain tools just because of your beliefs. It is better to use all the opportunities and benefits, if possible.

Fiat remains superior to cryptocurrency when it comes to the most commonly used to take care of our daily expenses. Both of them is needed to secure our lives. It is advisable that we save in bitcoin and use fiat mostly,since a country can't do business without fiat currency. Some countries don't want their citizens to use bitcoin,in such country bitcoin has no voice there. The only problem with fiat is that it depreciates due to inflation which is a natural phenomenon in life. If not for this reason,so many people if you ask them,they will tell you that they prefer fiat to bitcoin because fiat has been there for a long period of time. You have to trade your btc into fiat to enable you enjoy your profit.

Fiat is the legal tender used for everyday transactions in your country I believe, hence why it can't and shouldn't be treated as trash.
Let's say for example, you transport to work and pay via cash, what happens if you don't have cash and you want to do transfer or send crypto to the drivers account. It will only make one arrive late and might not even go anywhere. What if the driver doesn't have an account of either a bank or a crypto wallet?
 Not many of our older folks who earn their living know the intricacies involved in online transactions mostly when it concerns cryptocurrency. This is one good reason why cash will remain as king. Cash can never be trash, unless the government decides to recognize cryptocurrency as a legal tender and also do well to enlighten the general public on the adoption of a strict cashless policy.

fiat is a part of human life although not everyone is satisfied with fiat value whether consumed, paid for or kept.  money = fiat, it is what people need every day to live, in fact fiat is close and familiar to people, although the change will probably be forced in the future.  but anyway fiat also shows great advantages, only the mis centralized management of government and banks makes fiat like garbage.

Because basically, you need to show who said the fiat was trash? don't feel like people who like crypto in general immediately say fiat is trash. So in essence, you are right that under any circumstances, fiat is still the fiat that will be needed for our day-to-day transactions and because fiat is crypto that exists today and has value, everything refers to value.

Don't misunderstand the talk about how fiat controls our finances while Bitcoin has the opposite goal of giving full control of ownership. But that doesn't mean fiat is useless, it's just that in a clear context of freedom Bitcoin is a solution for those who want to control their wealth assets.

Fiat will always be the top preference of every citizen despite the existence of cryptocurrency. Some people see more convenience when transacting with fiat since it's being accepted everywhere most especially by the biggest businesses.
It will still take time for a crypto to be recognized in the same way so we can't say that fiat is trash. It will always be the number one choice over any currency. It might be regulated but we can't deny the fact that it is irreplaceable.

Whether we like it or not, the world will still switch to cashless payments, although many continue to provide services using cash.  In my case, it is very profitable to use the ets platform, which in the future allows me to withdraw to cash without any obstacles.

exactly as you said. and that's the reality when it comes to fiat. because we are all used to fiat. even though it continues to be affected by inflation. so the decline in value may continue to occur. but we still need it to transact every day. because awareness of the importance of Fiat is indeed evenly distributed in all circles, both among young and old.

Maybe currently young people continue to experience adaptation in following the trend of progress in payment instruments in a more advanced direction, such as digital payments. whether it's with cryptocurrencies or fiat but the use of fiat today is still strong and forms the majority.

Stablecoins aren't backed by anything the same way fiat currencies aren't backed by anything. It doesn't have to be one or the other, you have a wide array of options when it comes to decentralized cryptocurrencies. I don't consider a stablecoin to be a legitimate cryptocurrency anyways.

Stablecoins will still inflate the same way fiat currency does if the currency its pegged to begins to inflate, so there's virtually no competitive advantage they offer. You're still beholden to the issuer and expected to trust them no less than you were of the issuer of the fiat currency.

Never heard of someone saying cash is a trash though but you have a point – cash and BTC should coexist because this how things work for the others. Some will not like the cashless system but some will do and it depends on which area of the country you are in. I wouldn't trust my earnings through stable coins which is controlled by someone rather than put it on BTC wallet as my own bank.

Although, Bitcoin and fiat should coexist since some people aren't built for complicated technology to understand but rather want some simple way of how to pay things up according to what they used to be.

a large population are still sticking to fiat method as it is straightforward. for those who are not into new tech, they will not touch any new currencies on the rise. i guess, that's understandable as many won't go out of their comfort zone. but won't say that fiat or cash is trash. up until today, almost all of us are still using cash in terms of payment. we can't use digital cash in all of our daily transactions. just be grateful that we have digital and fiat all the same time, just use any method at your own convenience.

When inflation is 100% or similar amounts, the phrase easily fits but its still a requirement to stay liquid and able to meet bills as they come due.   I think the percentage of cash held is where its debatable, you dont 100% but 0% would be foolish similar with holding BTC I dont think everything held in crypto is the best approach as you dont want to sell in rough patches like we are now.

The concept of stable coins can be a good one, but it was evident that this is all about experimentation so far. Several kinds of stable coins have been introduced and they functioned well until they didn't anymore and all too often the analysis was easy and hard: they have been too centralized and if a single institution issuing those stable coins crashed, the stable coin would die along with the institution. That is a bad execution of the concept itself if it is supposed to exist reliably.

The stable coins aren't more or less stable than fiat currencies as they are backed by them. 5 USDT would get me whatever the equivalent in USD would get me minus the discount factor that I can use USDT in way less places and that there might be a hidden premium for the risk that USDT bears.

But there might also be additional value that USDT can hold for me if I park a highly inflationary fiat currency in USDT. These stable currency systems are just not well set up and still not scrutinized sufficiently.

The problem you described is primarily not a problem of stable coins, it is a problem of your government holding back fiat currency from circulating in order to manipulate politics. You are shifting a typical problem of fiat currencies into the category of stable coins. They do have their own issues, but a government withholding currency is not an inherent problem of stable coins.

That is the fairest comment I've ever read. Many people invest in bitcoin and start smearing fiat, but it's not necessary because of the fact that both have pros and cons, and both are necessary for us. Bitcoin has only been around for 14 years, while fiat has been around for hundreds of years, if it were really bad and useless, it wouldn't have been around for that long. I believe, without bitcoin, our life will be no problem but without fiat currency, it will be a big problem for us.

Well, when somebody says fiat is trash, I suppose it doesn't mean you throw your money away. I share the sentiment that fiat is trash, but not literally. What it means is that the monetary design is bad. It means the system that makes it thrive is bad. The operation and control systems of our fiat currency are bad. So while I'm saying fiat is trash, I certainly wouldn't burn my bills or give them all away or tear them apart or toss all my coins into a deep wishing well. 

Governments and people in one country will still use fiat because they find it easier to make transactions through fiat. Even though there are digital transactions now, they also use fiat even though they are not paper currency. Until now, fiat is still being used even though we are familiar with bitcoin, which can be used as a transaction in several countries. And we use fiat to buy bitcoins.

And I prefer to use fiat and bitcoin together because then fiat and bitcoin can work for their purpose. Fiat for everyday needs and bitcoin for future investment and they can work together.

That's what the world is aiming for but making it a reality is not going to happen in our generation. I have also thought of a cashless world, but I am wondering, what the would be the solution for the elderly who can't use smartphones, and the blind who can't use the internet...We can't just think of our convenience without caring about those people, they are part of this world too.
My grandmother is blind, and for the past 10 years, I have witnessed my grandmother's difficulties in life, a modern world that can be gratifying for us but even more difficult for them.

You are quite correct about what is going on or has been going on with the situation of fiat availability with the notion of what the Government thought it would solve in relation to the Election, but today March 01, 2023, and the result of the Presidential election has been announced, would we say that the aim of the President and CBN president was met? I had to say no cos the person they were targeting still won the election and the citizens were just put through hardship for nothing.
That said, Fait will continue to be very important in the everyday life of the people regardless of its inflationary nature until we get to that point when we have the everyday stores or market traders get to the point of wide use of online transactions (digital) which was the problem for most citizens these past weeks, fiat will always be the fall back financial currency. 

Ever since the introduction of digital currency such as bitcoin, the interest of the people have increased towards it and there have been more attractions to using this network because if the freedom it gives, less transaction charges and it's decentralization as well, we may continue to be using fiat but the acceptance may be low unlike before since the crypto boom has widely increased all over the world.

Cash is not trash,and also likewise cash should not hold an entire country to ransom; this would only mean that there are so many things abnormal about the country monetary system and policy. People should be able to survive in any country without needing to have lots of cash at their disposal; and this is why major countries have money laundering laws guiding their citizens.

I hope you teach the importance of cryptocurrency and defi to more of your citizens; when you liberate your youths; there will be progress

1. Changing the national currency should not create such problems. I understand that the question is not for you.
2. Alternative methods must exist in the country. For example card payments. In my country, which is suffering from terrorist aggression from Russia, for the first half of the year there were problems of delivering cash to people and paying pensions. But due to the developed banking infrastructure - everyone, and even in the temporarily occupied territories - money is credited to card accounts, and in fact in all outlets you can pay with a card or in a contactless way using a mobile phone.
3. About cryptocurrencies - a difficult question. In fact, they are either outside the law or on the verge of legality. It is technically more difficult to get stores to accept them for payment.

We must be able to distinguish between investing, trading, and saving or store money. If the statement "it's better to save in a stable coin than keep paper money in a locker or bank", that's a wrong statement. It's true what (OP) said, that crypto can disappear at any time because in the digital world all our activities not guarantee 100% security. It would be safer at the bank, but of course you have to have cash on hand because for daily needs, almost 90% use cash.

Yes, cryptocurrency is gaining attention from all over the world, but it is known more as an investment than as an alternative fiat payment method. The adoption and use of fiat remain the same and do not decrease, and in the future, there will not be any cryptocurrency that can replace fiat in our world. Fiat is still the measure of value for every asset and commodity in this world, if calling fiat is garbage, then any asset based on the value of fiat is also garbage.

There are a lot merchants already accept mobile banking or digital fiat, so you don't need to have cash on your hand to pay anything. But yeah I tend to agree fiat in bank is more safer than stable coin because your money in bank are insured, Binance do offer SAFU but there's no transparency and you can't complaint due to unknown where Binance is operated. But I'd choose to hold Bitcoin, then convert to fiat whenever I want.

Fiat isn't trash its just a trap, you said it clearly you need cash to buy anything in the Store and government created an ecosystem in that way and renewing the new papers may have other intentions too which can't be exposed to fellow citizens.

However imagine if we adopted decentralized money like bitcoin then any order from government can't stop us from using and that is the freedom and money is supposed to give us that freedom.

The phrase "cash is trash" is not traditionally associated with the scenarios you are discussing here and you're applying them in a different context to the original intention. You're right, these cryptocurrencies are not backed by anything, but in reality that is somewhat similar to fiat currency - it's only the trust you have in the system, in this case directed by the government, that gives people faith. Fiat currency is not backed by a gold standard and hasn't been for a long time, but that is way too impractical anyway. Cash is trash is usually compared against ownership of stocks, where you can buy ownership of little slices of a company and share the profits, in comparison to holding money in much lower interest rate bank accounts.

The modern economy where the average internet user prefers to pay with digital fiat and even almost all big shops do that. it cannot be denied that the modern era is increasingly sophisticated in the future. But if someone says fiat is trash, maybe it's a meaningless rant. in my country fiat is still the prima donna among business people to have it so if the fiat category is trash then they shouldn't have it.

what you did is correct, I mean be it binance or coinbase they are third parties who control us. Therefore it's good to save in a wallet where we hold the keys, whenever we want to sell or exchange to fiat it will happen, but if you save in the market, of course that's not a good thing because several events have happened before, such the FTX collapse.

other than that gold, btc and fiat, or stable coins, indeed, almost everyone has it in their investment portfolio so there's nothing wrong with them.

Storing a stable coin is not much different from storing cash even though the storage is different for both. Cash has a fixed value and a stable coin also has a price that tends to settle even though it also experiences changes in a very small size. But for safer storage problems, I think it depends on what wallet is used to store the stable coin.

Because OP still thinks that saving cash in the bank can avoid it to be cheated or robbed by criminals in this world, even though he could have been glimpsed and monitored by criminals if they know that someone has more cash inside the bank.

But we are not the ones in authority, we are like sheep to follow their shepherd (government).  So even if we adopted decentralized money, if the government banned it, it will become useless in our country.  Cash or fiat money even though have a deflationary value, at least it will stay unlike the majority of cryptocurrencies that can be rug pulled or abandoned by the developer anytime.  Even the most liquid, Bitcoin, we are unsure if it will last another decade or not.

Cash is Fiat and Fiat is government approved currency for exchange within its jurisdiction. The hardship from the absence of fiat is greatly felt due to the fact that, most business enterprises don't have enough point of sale machines to attend to there customers, the few that has have got issues with network connectivity and most of the citizens aren't used to mobile banking. These arr the constraints that have made cash seemike a do without.
Should cryptocurrency be approved today for a legal tender, the need for cash transactions would be reduced and people are sure to make use of the alternatives available for them.

Why do we really need to care about our government approval when we are already adopted and make payments with decentralized crypto which can be bitcoin or any other thing which is not under control of anyone.

Most cryptocurrencies created with no purpose other than making money for the Creator but not entirely such as Bitcoin and we know even Satoshi isn't sure about how people will approach the decentralized money but his vision is getting visible but still a long way to go and I am sure bitcoin is here to stay until we have something better than decentralized money.

There are many merchants or stores that accept mobile banking and digital fiat, but not all. If you're traveling in a deep forest or remote island without internet, cash is still a necessity, or at grocery stores, with items only a few dollars, cash is still preferred over using online payment methods. In short, cash and fiat money are still essential in our daily lives, and they will continue to dominate for several more decades before there is an alternative. I will keep both, fiat money for daily living, and bitcoin for future investment.

If your country bans bitcoin, you don't need government permission, you can still use bitcoin for payment, but you are using it stealthily, not publicly, and that's not freedom. We live in a centralized and government controlled world, we will never be free, bitcoin only helps us somewhat, it cannot make us completely free.

We've been able to use bitcoin so far, it doesn't mean the government can't do anything to us, it simply doesn't want to oppress us yet. If they feel it's dangerous and seriously threatens them, they put it on the kill list as a terrorist then that would be a serious problem for us.

Seeing this post reminds me of how difficult I tried to send cash back home some weeks ago as they don't accept cashless in some regions. Reviewing the government's cashless policy in Nigeria has been one of the hash economic policy government has ever made since I have been here, despite the government trying to disable election manipulation, rigging, and buying of votes, didn't the same man win the election a few days ago and yet we are still suffering with the consequences, sometimes I wonder if its a crime to live as a Nigeria.

Crypto and Fiat are two things but of course, they can coexist together but they are two different entities, while one is free and fair without centralization, the government always tried to force their policy on people that is why people always disregard the fiat, the inflation we are dealing with everyday has questioned the merits of fiat over its demerits.

Interest in Bitcoin and cryptocurrency continues to increase. But that doesn't mean it will put fiat aside. because at this time bitcoin has not received legality as a means of payment in the majority of countries on this earth. only in El salvador that I know has legalized bitcoin as a means of payment. even in El salvador it seems that the use of fiat still dominates.

Bitcoin has indeed attracted the interest of many people, but currently this interest is more focused on investment assets and in some countries Bitcoin and crypto have been declared commodity assets.

Even if bitcoin becomes legal, I believe people will not put fiat money aside and use bitcoin as an alternative to fiat. In many cases, fiat is still needed, if you move to a place where there is no internet, then bitcoin will be useless, and fiat will be useful. Given the volatility bitcoin is really suited as an investment, as a commodity rather than a payment.

yeah that's what I thought too. because even in reality there are still many remote areas that have not been reached by the internet network.

even in my hometown when I return to my hometown I always feel irritated with the internet network there. because I have trouble getting a signal on my cellphone. I have to climb to a higher place to get a signal. making it impossible for remote places to use services such as digital or crypto payments. so fiat will always be used.
and in Indonesia there are still many areas that have not been reached by the internet. such as in the interior of Papua, the interior of Banten, and the interior of Kalimantan.

Precisely, and most especially when crypto transaction is still very minimal and not entirely acceptable in some places. Fiat will always appear as king in this scenario.
This just demonstrates to many people that the government has the power to control however they want. The cashless policy introduced by the Nigerian government has revealed how easily a single government policy can affect the entire economy. It was a very selfish move on the part of the government even if the intention according to them was for the betterment of the Nigerian population. People will not forget this experience in a hurry. If crypto was accepted on a large scale things would have been very different.

Money is a legal means of payment, before recognizing the existence of money, there was a barter system, exchanging goods, so be frugal, when using money, just buy the things you need.

We as the Indonesian people must be grateful, with the existence of such advanced technology, so that we can be able to compete with other countries. especially with bitcoin really helping, we get knowledge, insight, know about investment, how to regulate, money management.

This is still the problem of many countries who dream for advancement of technology the scope of their internet as well their people understanding about it. Old generations were not able to access internet yet due to their location as well they don’t want to adopt in change which requires governments to still do common setups as well using fiat as mode of payment despite the advantage and ease the internet and crypto can do. Implementation will be hard unless people are open to accept change.

Yes , even though every country in this world will accept bitcoin we really still need to use fiat, it cannot be replace at all because the first thing we need to consider is we need an internet connection for that since we are dealing with web2 and web3 right now  and there's no other thing that can help us with that of course.People say that we are living in a digital era now but still we need to have that in order for us to live in our daily lives.

Even if people are willing to accept change but like you said, the infrastructure is still a major problem for those that want to use the system. These past few weeks have been a major headache around my country because the inter-banking online transactions have been terrible because fiat was not available after the Government redesigned the fiat currency and put a limit to when the old one would no longer be accepted, limiting the number of new designs that were printed and once that date came, everyone was trying to go online and the system was overwhelmed.
Now think of when the internet would go down, especially in developing countries, so the infrastructure for that to be well accepted is important hence, fiat in hand will always be important.

That might be a factor in preventing bribery and corruption during elections, but I don't see any good in reducing the availability of fiat. I have one question did they renew all the notes or release new ones while the previous ones were coexisting? i mean, there is no doubt that cash is not trash, but in your case, your money has become trash if no conversion facility has been provided.  


I have faced the same issue. How? My government releases a new note worth 75 pkr, and it has been months since its first release, but you know what? I met that note face-to-face (haha) 2 days ago. haha. Well, i took a picture of it that I posted on my local community (https://bitcointalk.org/index.php?topic=232519.msg61848902#msg61848902), and there is one more surprise on that note too. Further, that note costs 75 PKR, but if you want your money in 75 PKR notes while withdrawing from your bank, the bank will charge 150 PKR for a 75 PKR note. (i did not expect this from private banks), but what could have been done? They are the authorities, and we have less governance ( only have decision and governance power when elections come) haha. Like literally, one political figure, an MNA from our area, came to our house and sat in our drawing room while there was load shedding that evening ahah.


There is no doubt about it. We all depend on the local currency to buy crypto. In our case, crypto is totally banned, but no specific punishments have been declared for victims, so they do whatever they want. Well, coming to this fact about the dependency of crypto users on local fiat is like finding food for a living. but I must say these things are changing now. How? Many people in the world tend to pay in crypto, but the question here is whether we aren't ready to take money in crypto due to a lack of trust in the other party and a less reliable agreement between both. (Well, this also means less knowledge of smart contract usage.) So we prefer fiat over crypto. Let's say crypto's real benefits will be acquired when it becomes legal tender in your place, like in El Salvador.

A lot of bitcoin purists and visionaries dismiss fiat's relevance as if it wasn't in part the cause of the cryptocurrency industry's success right now. Every coin is literally pegged to the dollar we might as well consider crypto trading as forex. Bitcoin purists saying fiat will be obsolete as if to say a coin that has been in the market that offers a little more to the table will topple a thousand-year old practice that is virtually ingrained in our genes at this point. But oh well, it's only these people you will hear negative stuff about fiat anyway. I see fiat as a worthy companion and a viable stepping stone for crypto to succeed, not an obstacle to overcome or a competitor to succeed against.

I do not know why they came to hate cash when they also use it to buy their stuff.  We all know that Bitcoin and other cryptocurrencies are not widely accepted.  We still need cash to buy our daily needs since the marketplace in my country don't accept cryptocurrency.  Even malls and supermarket only accept digital cash not cryptocurrency.

I agree they are printed out of thin air, and isn't lots of cryptocurrencies the same?  I think this cash is trash thing is just propaganda of people who wanted to overthrow the financial institution authority.

Cash gets full guarantee from the state so that it will continue to be used and will not crash, if there is 100% inflation, the central bank will carry out an easy policy, this is certainly different from the decentralization system that requires large capital to be able to control the market.

If stablecoins are backed by fiat currencies, that is, the currency of developed countries, then from an economic and financial point of view, this is actually the same thing. But from a security point of view, there is even a risk that the stablecoin creators will abuse their position. But due to their digital nature and the ability to store them in our cryptocurrency wallets, and not in bank accounts, there is a significant advantage. Therefore, everyone can decide what is more profitable for him. But Fiat is not garbage anyway. Even if it is subject to inflation.

Money has a great history like you mentioned. There was a process or change of systems like exchanging to buying. Most of the people prefer money because it is convenient but for me I prefer online wallets.

The only thing I hate about cash on our country is that it’s value is too low compared to US Dollars tho I can make money from it through exchanging when values goes up and down. That’s why I prefer crypto stable coins thtan having my own cash.

As someone who has never been to Nigeria or has anything to do with it, I can tell you that same is happening all around the world, same in my nation as well. We can CLEARLY see how terrible the government is, and yet they keep getting reelected, which sometimes confuses me a lot as well, like what is even the point of electing someone who we all know running the nation terribly, and making it harder to live here?

But, I guess politics is something that is a bit confusing that way, in all over the world, it is not just small nations like us, Trump and Boris Johnson was elected too, and we all clearly saw they were bad too, and yet they were elected all the same.

Fiat will always be needed and will never be replaced even though Bitcoin is increasingly popular, all prices will refer to Fiat, especially dollars because they become international currency, many people think that when all transactions can be done with bitcoin, they plan to leave Fiat, and this is a mistake.

Cash and crypto will co-exist until cash vanishes. As we progress towards the future, we will see less and less usages of fiat cash. The problem you said regarding usage of illegal money during election, it could also be fixed while using digital currency. And one thing that's for sure, people will still find ways to use it illegal works.
And the fact about stable coins. I agree, and I do hate them. That's why it's important to keep hodling BTC .

More precisely not replaced, but fiat will be the second option in terms of payment when there are many people starting to be able to use Bitcoin for legal payment matters. So that fiat, which used to be the first option in terms of payment, will change over time to become the second payment option because it is rivaled by digital currency payments which are indeed very easy for people in urban areas.

So it is clear that fiat will not be simply eliminated by anyone even though there are already other options in life, because each of them has advantages and disadvantages. But as long as it's still not bad to use, then there's no need to replace it with just one option.

But bitcoin is often used for investment rather than payment because its value fluctuates and the price is unpredictable, let's say that you have bought some btc at a price of $ 25k in February and now the price is falling at $ 20k, so you definitely won't convert it to fiat or buy any item with btc because the price is now reduced, unless you are not an investor who only buys items using btc any time. But fiat users will not be replaced or lost even if there are many digital payments or using crypto payments.

I think cash will last forever because the government will take care of cash, of course the government considers that a better and safer transaction is cash, a decentralized system of cryptocurrencies will certainly not be easy to implement because the state cannot control if problems occur, not only when prices drop but when the price is skyrocketing then the government will find it difficult to reduce the price of crypto because the stock is locked

fiat was elected by the government until recently, and we as citizens must comply with the regulations that apply to a country where we live. we cannot force fiat to coexist with crypto, if the government has not made a decision for that, unless we are an influential official in a country. I think what can be profited from cryptocurrency is what we are doing, and if the government provides regulations that welcome crypto, then it is a bonus for us because we already have prior knowledge

There are many reasons why many online shops and physical shops have not accepted crypto as a means of payment, for example, crypto is not yet legal in that country or adoption has not reached the perfect stage, so when shop owners try to integrate or accept crypto as a means of payment in their shops , then it will get them in trouble with the law or will be abandoned by customers because they are not familiar with how to pay at the store.

Trust me, people who say fiat is garbage still use it as a legal means of transaction, in El Salvador which has legalized bitcoin as a legal means of payment also still use fiat as a means of transaction, what about other places that don't legalize it. So there's no point in saying fiat is trash, but at some point we still use it as a means of payment.

Many countries still use fiat predominantly as a means of payment, which means that the need to use fiat is still very much needed and plays a very large role in every purchase, especially for some countries that ban crypto in general.

Fiat currency may get the full guarantee of the Central Bank and the state but that doesn't mean it's not crashing despite it being used as a medium of exchange and payment for goods and services.
I could remember in the 80s and 90s it was said to be a store value but it was all a scam because whenever the government prints more ridiculous fiat currency cash continues to crash. Although it may not be trash since it represents the heritage and national symbol of the country

but whether the policy could be carried out depends in the country itself, there has been many cases that shows the inability of the central bank in preventing the inflation, regardless if it's good country we're talking about we could always be sure that they always have ways in countering the inflation so basically it still depends in the country itself.
I'd say cash is quite good for reserving value, moreover even right now stablecoin that's basically just derived from cash and gets digitalized are striving, so basically majority still sees the worth and utility of cash in general, i'd say as long as you're still have that belief that cash is not gonna plummeting because of inflation it's fine since it's guaranteed by the government across the globe.

The power of cash is the central bank or government that controls cash, as long as there is still a government then cash will survive, it is only natural that the state will do everything to maintain cash because it is the power of the state, and if problems occur such as inflation then the central bank will easily control or repair quickly so that the most important thing for the people is to give confidence to the central bank.

They print a lot of money to solve financial problems, to support the economy, but by doing so they increase inflation, and this happens gradually. The fiat system is becoming obsolete, I would really be interested to see how things will be in a country where a currency with a deflationary model will be in circulation.

But I understand that it is not so easy, because the fiat system is very deeply rooted and has become familiar to many.

They didn't print more fiat currency to solve the country's financial problem buddy because if that were the major purpose of printing more money they would have to see that it only sinks the country's economy into inflation and try the strategy used by Satoshi when he created Bitcoin. But they are printing more money just to steal from the country's national cake.

The Fiat system is not obsolete but it has lost its credibility and it's now a complete failure and scam as some people always say.

Every country in the world has its own currency or so-called fiat. It's true and I agree that fiat and crypto or bitcoin can never be separated.

      But I don't believe that all stablecoins can be trampled by the government in every country. Maybe that's possible with stablecoins listed on centralized exchanges, but with Decentralized exchange stablecoins, the government can't really control it.

in fact those who say so already have a large amount of wealth or money so that they can say so.
the problem is that people who don't have it actually think it's true and think cash is trash.
which they actually needed it more than anything else to begin with.

Well, stablecoins ARE fiat. They are just tokenized fiat where the token is controlled by a company and the fiat that backs them is held in a bank. It's no different than fiat, its just a means to use fiat on blockchains. So I don't think it makes any sense to say stablecoins are better than fiat.

With stablecoins you get most of the downsides of fiat except that you can use it on a blockchain. But you still don't control it because its a centralized system so the issuing company can freeze any account they want just as a bank can do. The one upside is since it is on a blockchain you can transact with anyone in the world so you're not gated into the banking industry with their limitations and fees. But the additional downside is another layer of trust and possible failure in the form of the issuing company. As we well know, a stablecoin can lose its peg to fiat.

There are other ways to keep money, it's not necessary to keep my money in stablecoins if I were to be in that shoes. Having money saved in a bank account is another means of saving using the digital platform, which however turns out to be safer than holding fiats. But for whatever reasons, I prefer decentralization to centralization.

From my point of view, whether or not something is actually worth something depends on the person's response.
if indeed everyone thinks fiat is garbage then it will happen, and vice versa in crypto.
fiat is more trusted because there is a government that regulates it while the goal of crypto is decentralization in contrast to the current concept of money.

as long as in the country you are referring to, fiat money is still needed and widely circulated for face-to-face transactions between people, then in my opinion it cannot be said that fiat money is like trash. i think if anyone call it like that is a mistake. what you said is also true that the chaos in a country is caused by money and likewise the suffering of the people is also caused by Fiat Money, this is because the perpetrators of these crimes need Fiat money, so anything will be done to get it.

I think cash will continue to grow and will never crash, the state certainly has the strength and resources to continue to control cash so that it will continue to be used, because the state financial system must be centralized so that it will not be too volatile like the concept of cryptocurrencies which are very dependent on the market.

Saving money in a bank is a very traditional way because it is an old method of saving money. After all, what you save is also fiat and as long as you can refrain from taking it while saving, I don't think it's a problem because it's still in the good category. But for now there is actually a more effective way of saving than just saving money in the bank, that is if you want to save gold and save Bitcoin expecting an increase in price.

Even though it has risks because unexpected price drops while saving can also occur, but your savings will be better when you see price increases occur for both at the time you least expect. Whereas when you only save fiat by saving it in a bank, the amount of your money will never increase even though it will never decrease in amount either.

In essence fiat money or digital money is a means of payment, the only difference being cash/non-cash transactions and technical problems in payment. So far, fiat money has really helped the community in making transactions because it is easier to carry and has a different value for each sheet, fiat money supported by cash transactions is still commonly used and all levels of society like it. Meanwhile crypto needs internet access to make transactions, and it needs to be underlined, not all people understand how it works.
Fiat will always be there because it is supported by the government, try to imagine if fiat was replaced with crypto, how can rural residents who are not covered by internet access use it when making transactions.

Cash is just a conventional object of value. You have the right to use it or use other legal means of payment. Cash is suitable for your country's educational level and usage habits, but compared to the global macro vision, cash will gradually be replaced by card payments, payments through apps, payments. Payment in Bitcoin, electronic money.
My country still uses cash more than online payment because they do small transactions.

cash provides a certain level of anonymity, and cash transactions leave no trace - unlike cryptocurrency transactions. If you want, you can trace transactions made even with anonymous cryptocurrency. Of course, the big disadvantage for cash is that cash is not universal for all countries, unlike bitcoin

Fiat money is not trash. Fiat money is very useful for the economy, people's lives as well as crypto. There are no trash terms for fiat money. Everything will be unstable if fiat money does not exist.

Lol. What the heck is op going on about? Only an idiot would think that FIAT is meaningless thanks to the digital currency revolution in recent times. Both FIAT and digital currencies have their pros and cons and are already coexisting together.

Personally, I don't think crypto or any digital currency for that matter will overtake FIAT in terms of popularity for several obvious reasons.

Also, op's statements about stablecoins are nonsensical. The world governments aren't capable of wiping them or any other cryptocurrency out whenever they want and history has basically proven that.

We've talked about it here time and again. Fiat and Crypto have to co-exist. The initial plan of Satoshi when he invented Bitcoin was not to override fiat. The world have not gotten to the level of going totally digital in every part of the earth so that makes it quite impossible for fiat to be trash. And for those that believe crypto will be the world currency anytime soon, I think they're delusional. Try to see Bitcoin as another form of currency, only it's not controled or owned by any government or state. When you see Bitcoin as a currency then it'll be easier for you to see it co-exist with other currencies like the dollar, pounds, yen, franc etc all co-exist.

nowadays most people still rely on fiat currencies, and we cannot consider waste on fiat currencies even though some of us already store our assets in digital currencies, for now we have to rely on them until the government actually recognizes digital currencies legally and safely for use in everyday life, so fiat currencies are very useful for now until the future, especially the use of fiat currencies is already so popular among the public, and digital currencies have not been fully usable by ordinary people.

This is true since, if you come to think of it, few countries recognize cryptocurrencies' legality to be used as an official currency. So, majority would still recognize fiat money to be the only legal currency. So for most of the parts of the world, cash would never be trash, since it is the only way for you to spend money and/or store money in digital wallets for you to use it.

Exactly, people always think that cryptocurrencies are made for future to delete fiat currencies well in fact its just a another for of money but in a digital form where it make more easy for other people to do lot of transactions. Fiat will never be a trash, its still very important because not everyone accepts crypto. If you look around the world its still big portion of it dont know what cryptocurrencies are and how it work. For us crypto users its good for us since we have different choices we can use as a mode of payment.

In my opinion cash will continue to survive and will never crash under any circumstances, in fact we often hear that there are countries that have inflation up to hundreds of percent per year but these countries still maintain cash, this is because it is difficult to replace cash with any system, if we think cryptocurrencies can replace cash, there will be many new problems that will arise.

I still really love Bitcoin so I will still save Bitcoin instead of spending it to get other things. Because as long as I can keep Bitcoin and can get the things I need using fiat, I will never bother Bitcoin in my wallet and will continue to keep it for long-term investment because it is true that Bitcoin is more suitable for investment than for paying something even though it could be done by some business people.

And now I'm starting to see joy when I see an increase in the price of Bitcoin that has returned to the market, because it is a very good improvement and is also expected by some investors this year. So I won't be spending my Bitcoin on anything at this point other than just investing.

Don't be too confident about it saying that it will never crash. Wherein, there have been worries that have been sorted out on how it's possible to crash and fall.

Yeah, those countries that have hyperinflation still have some cash but their cash on that point is totally worthless. That's why they're looking for some other medium of exchange and payment and one of them is through US dollars. In Venezuela, where it's known to be one of those countries that are experiencing hyperinflation many transactions there are happening in the form of US dollars and digital. It's because by bringing even just $5 worth of cash through their v.bolivars, you need to bring a lot of it as in heavy forms and sacks of cash just to pay for the goods you're about to purchase.

It can be the best alternative for those countries that suffers hyperinflation but I don't see any problem on it but maybe, it's related to the government that will create that problem you're saying.

When it comes to stable coins, just remember what happened to UST back when Terra Luna has been attacked causing the project to be destroyed in just a matter of days. Just remember what happened to USDC days ago when it de-pegged from 1$ to as low as $0.87. We've also seen DAI got de-pegged as well. I guess this is enough proof to say that stable coins aren't really pegged to a dollar.

I don't know why investors are preferring holding stable coins than cash. Maybe the potential interest that they can get while holding it in some wallets or exchanges is the reason of it, but overall, I don't think that's a good thing to do.

I can't imagine our world without any cash. Yes digital cash is becoming more popular already and the number of people using it exploded especially during the pandemic where there is a time where establishments aren't accepting physical cash because it might be a potential carrier, but overall, cash is still needed, and it isn't trash at all.

It is difficult to definitively state that cash is the most important element, as different people and contexts may place varying levels of importance on different factors. However, cash is often considered a crucial element in many aspects of personal and business finances, for several reasons.


Firstly, cash provides liquidity, meaning it can be readily converted into other forms of value, such as goods, services, or other assets. This liquidity allows individuals and businesses to quickly respond to financial needs or opportunities, and helps ensure financial stability. You just need to earn money and that's it. I am fed up with people running our country and economy -we're not safe at all! Make sure you know how to make money online, a side hustle or a small business you have.

Secondly, cash can act as a measure of financial health and stability, as having adequate cash reserves can provide a sense of security and ability to weather unforeseen financial challenges.

Thirdly, cash can provide flexibility and freedom, allowing individuals and businesses to make decisions and take actions without being overly constrained by financial limitations

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Many people say that it is necessary to use bitcoin as a payment method because it is the best way for bitcoin to become popular. That is absolutely right, but honestly, I don't think anyone wants to spend their bitcoin because everyone knows that the value of bitcoin in the future is huge. Nobody doesn't want to be rich and have a lot of money, so I don't want to use or spend bitcoin to buy something either. I feel it's a waste, as we already have fiat to help us do it.

Say for example, you are transporting to the office and paying via cash, what happens if you don't have cash and you want to make a transfer or send crypto to the driver's account. It would only make someone arrive late and maybe not even go anywhere. What if the driver does not have a bank account or a crypto wallet?

Not many of our parents who make a living know the intricacies involved in online transactions especially when it comes to cryptocurrency. This is one good reason why cash will still be king. Cash will never go to waste unless governments decide to recognize cryptocurrencies as legal tender and also do their best to educate the general public about implementing a strict cashless policy.

The factor that makes cash always used is because it's easy, fast and of course legal, the state will fully guarantee cash so that no one will hesitate to use cash, it is natural that any idea to replace cash will never work because there is no better transaction system than cash.

I'm not against cash. Cash helps you keep your anonymity and privacy. That's why many countries are trying to get rid of cash ASAP.
Digital money is much much worse.
 
As to the savings and investments, it's much better to keep em in Bitcoin not stablecoins. Be your own bank!

If you watch any movie about gangsters, you will see that in 90 percent of the plots, wealth is represented by cash (for example, a diplomat stuffed with 100 dollar bills).  This is no coincidence. 

Cash is the best way to avoid control over your transactions. 

However, none of us plans to commit crimes?  Yes, absolutely right! 

However, at present, people are faced with a new threat - the governments of all countries want to totally control all monetary transactions.  At the same time, the civil law principle of the presumption of innocence is ignored.  This means that the rights and freedoms of people (in particular, the right to property) are under threat.  People are deprived of the right to freely dispose of their money. 

However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is of great value.

I agree with you; anyone who believes fiat is worthless hasn't lived in a nation where it is important. I recall how difficult it is for people in my country today to obtain cash so they can provide for their families and themselves. In one instance, a woman passed away while giving birth, and the hospital demanded payment in cash. Despite the husband was a very successful investor and wealthy man, he was helpless to save his wife life. I realized then that cryptocurrencies had no value in some places.
My point is that just because we are investors and have bitcoins does not mean that fiat is worthless, because there are countries that value fiat than bitcoin.

It all ends up that government doesn't want their authorities to be threatened. IMO, my statement may be worth a cent, but somehow the reality we saw today is closely similar to what I said about being threatened. We've already heard some reasons why government is wary and don't want to recognize bitcoin and other cryptocurrencies, and I'm pretty sure that it is already common for you guys to hear this "they want to monopolize everything" statement. While they wanted to seize bitcoin but couldn't, instead of taking over it, they'd just make use of their authority to prevent people using that. So where does it end? people will still follow the rules or else they will be punished.

Just like the situation of the OP, our country too doesn't have clear stand to what bitcoin and cryptocurrency is. In short, they are neutral, but they didn't forget to warn us about the risks, but still in the end on my personal experience, slowly bitcoin in our country became like any other foreign currencies that we need to be taxed upon since it is quite hard to withdraw bitcoin anywhere without revealing you are a user of such currency. In conclusion the importance of FIAT here in our country is the same level as bitcoin since both of them couldn't exist without the other same even if you will do the opposite as to buy bitcoin you will still need that fiat.

While it may be true that cash can offer some degree of privacy and control over transactions, it is important to remember that using cash is not without its drawbacks. First, cash is easy to lose or steal, and once it's lost, it's less likely to recover. In addition, the use of cash can make it difficult to track expenses and manage finances, because there are no records of transactions.

Also, while the government's desire to control monetary transactions may seem intrusive, it is important to consider the reasons behind such actions. For example, monitoring financial transactions can help prevent money laundering, tax evasion and other illegal activity.

and the ongoing phenomenon that cash is being used less and less in many parts of the world, as more and more transactions are done digitally. This trend is likely to continue as technology continues to evolve and more people become comfortable using electronic payment methods.

Some countries are not using bitcoin, because bitcoin is legal tender,is only few that now cryptocurrency, cash is the best way to avoid control over your transactions. Our country too doesn't have clear stand of what bitcoin and cryptocurrency is.And I don't know in the future, maybe my country will spend or use bitcoin or cryptocurrency like foreign currencies.That's why many countries are trying to get rid of cash ASAP. Cash will never go waste, unless the country make cryptocurrency legal tender.Bitcoin is not legal tender in the world,
However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is a great value.

Nothing is perfect, everything has its downside, you use bitcoin, a digital currency, it can still be attacked by viruses and hackers.

The world is moving towards digital, but the complete elimination of cash is not going to happen anytime soon, I think it will take quite some time to do this. But as of now, cash is still king because you can use it and be accepted anywhere, especially where the internet cannot reach you. Cash is still our savior in those cases.

You made an interesting point that fiat and crypto should co-exist which in my view is very practical approach. Fiat has been in use as method of payment since decades hence, it will take time before people start accepting new forms of payment.  Generally people refer fiat as "trash" in the context of its consistently decreasing value which reduces our purchasing power and it becomes difficult to afford basic needs of life.

Cash will be fully supported by the state, as long as the state is still in power it will take care of cash, this is because cash is a strength of the state, although sometimes the value of cash decreases but the government can make policies such as tightening circulating stock so that automatically deflation occurs so that the value of cash up again.

Yes, there's no doubt about it, today no one treats bitcoin like currency, on average bitcoiners instead make bitcoin a long-term investment asset instead of using it as currency like fiat which is used daily, that's a fact, me too so do the same thing.
Maybe because we are used to spending fiat money and we treat bitcoin as an investment asset which causes us not to want to transact using bitcoin, I think today it is still dominant to use fiat with all its bad things in terms of the system, but I do transactions because it is considered easier and maybe also out of habit.

The real power of cash is in psychologic effect of having it. Most attempts to somehow control crypto or at least determine the definition of cryptocurrencies in any country has psychological limit: most people in the world don't even know anything about cryptocurrencies, while those who have some BTC still use it only in a way to raise fiat. Also, there is a possibility to include elements of blockchain technologies in fiat bank systems in order to combine the psychological power of fiat and reliability of blockchain products.

It is true that in many parts of the world people hardly know anything about Bitcoin and its potential to become a leading method payment. However, as it happens with every new invention or technology that people take time to understand it and eventually accept it when they realize its worth, benefits, and its potential to transform their fortune, then obviously they will adopt it.

cash is legal and it is many used for transactions become the digital currency comes onboard. Till when the world countries would decided to do something about this, the use of cash would still continue to be in existence even though we still have options of making transfer to pay for goods and services especially when we have limited cash to pay out. Everything we are in is an era and when this era pass by another one would comes in when people would be able to make transaction legally and without stress with digital currencies.

Cash, in my opinion, is a very important element of ensuring the confidentiality of personal life. 

If you constantly pay for goods (works, services) using a bank card, then your bank, as well as other interested parties, will know absolutely everything about you.  They will know all your daily habits, routes of your movements, your friends and acquaintances, lifestyle and range of interests. 

At the same time, the right to privacy is a basic (natural) right of every person.  With cash, you can protect your right to privacy. 

You can also use an anonymous and private coin like Monero for settlements.  But cash is currently a much simpler and more familiar financial instrument to ensure the anonymity and confidentiality of transactions.

I agree with you that it is possible to change fortunes and achieve success with Bitcoin.  There are many people who do not want to see Bitcoin well, but when they slowly understand the interesting aspects of Bitcoin, they prefer Bitcoin for fortune development.  People can change themselves very easily because Bitcoin is a real payment.  This is what it stands for in terms of its use.  Bitcoin is at the top of the current technology

I have never heard anyone literarily referring to fiat as trash unless that person is living on another planet. I also witness the scarcity of cash but the main reason Nigerian government gave was to add value to the currency but making new currency and taking in the old to limit the number in circulation but didn't see their plan work till today.

I think the whole world is moving into the digital era. Despite the event you mentioned, we must look far as the world is changing fast and almost everything we buy and every service we use will be available through the internet, so using fiat currencies won't be suitable in these cases though. Indeed, a lot of countries have announced their plans to issue digital versions of their currency, and after that the usage of fiat currency should decrease until it disappears.



I don't agree with you regarding this point. Some stable coins have proved reserves, and they issue financial reports regularly. In addition, they are a necessary factor in this volatile market. For example, if you want to sell your Bitcoin but don't want to leave the market, stable coins will offer the solution and make you tons of deals with banks in case you want to buy again. Nonetheless, dealing with stable coins looks much better than putting money in banks and losing it all, as the stable coins give you the opportunity to sell them fast in case a drop in value happens, while banks will hold your money for unknown period.

what we need to know is that every cash is guaranteed and there is full recognition from the state or government so that it continues to be used and not jammed, if there is 100% inflation then the central bank will carry out an easy policy, this is of course different from a decentralized system which requires large capital to dominate the market.

Indeed, these two things are very different because they are formed from different ways. cash can only be used as a medium of exchange and its value is always fixed and protected by the state. But you will only feel one of the benefits if you continue to rely on cash at this time. While this decentralized system is a system that has strengths and advantages.

Decentralization is an effort made by the government in the context of handing over central government policies to local governments in order to regulate their respective regions. In short, decentralization is the granting of authority or responsibility from the central government to regional governments. So this is of course very different from the cash system which cannot be linked to decentralization at all because its function and use are different. Source: gramedia.com (https://www.gramedia.com/literasi/kelebihan-desentralisasi-bagi-perekonomian-indonesia/)

Not sure why do people come to such "cash isn't trash" conclusion, while I bet they are already using cash for making 99% of you daily transaction. Cash definitely has its uses, and both fiat and crypto can coexist together, without interfering or disrupting anything. Like you said, we all started with fiat when we bought our first crypto, and in some situations, cash is just more convenient right now than using crypto. Imagine waiting for more than 10minutes for a network confirmation only for a cup of coffee.
But I get why some people exaggerate and come to that conclusion. We can't ignore the disadvantages of fiat currency. Inflation is a huge issue, and it can really hurt people's savings over time. Plus, with physical cash, there's always the risk of it getting lost, stolen, or damaged.

Cash that gets full support from the state will not crash, in contrast to the decentralization system that depends on the strength of the market and stock, Cash uses the concept of centralization so that the central bank can control all things or steps needed so that cash can survive.

Cash can indeed survive with several factors and clear reasons, because Cash always has good control from the governments of their respective countries. But despite all that, one can't expect much of a return on cash unless it's just about its enduring value. And besides that, each system also has its own advantages and disadvantages so that this can also make each currency user have choices that suit their individual needs.

However, if governments create their own digital currency, the crypto environment may shift. For one thing, it might lower demand for stablecoins by allowing consumers to use government-backed digital money instead. It may also make it more difficult for cryptocurrencies to compete with government-backed digital currencies, which have more authority and stability. On the other side, it may raise awareness of digital currencies and make people more comfortable with the concept of utilizing them, which might be beneficial to crypto overall. And because it is digital, it has the potential to be utilized for configurable money and smart contract agreements.

You have given a very confused and muddled explanation. First that your country seems to have failed in the role out of a new version of the currency, or there are limited supplies of an existing currency? Then you refer to creating transactions through digital currency, presumably you mean things like bank transfers or credit card payments? Then you rail against stablecoins and it is hard to tell if you're supportive of any form of crypto whatsoever. It's really hard to decipher the message that you're trying to get across. If you cannot access physical cash then what good is it to you? In that circumstance cash is trash because the supply does not meet the simple needs of the demand.

Maybe delusional crypto users will tell you that fiat is overrated and should not be used anymore but as much as we all believe in what crypto can do we also can not deny that we would not be able to go through our whole life without using fiat in this world

unless your country has 100% adopted bitcoin (in which no one has done yet) then you have no choice but to use fiat and so for the mean time fiat is not trash

Stablecoins are hot garbage and there is not a single one which can be proved to be 100% backed by the tracked currency. Especially when they can just mint more of it when they want to. This is essentially the reason why the SEC forced Paxos to shut down its BUSD minting operation and why Binance had to kill it.

Compared to buying stablecoins, It is much better to go get the actual currencies themselves, of course for that you will need a bank account and then to do KYC on at least one OTC trading platform if you really have to do that. But there are still some cases where they are the only reasonable option to pay for stuff because the alternatives are $30 fee Ethereum and $80 fee Solana or similar (as you may have guess, no bitcoin support on these platforms.)

Currently, the use of fiat in life is only to buy goods and services that we need every day, because apart from that, there seems to be nothing that can be relied on through fiat. Well, because there are still things that everyone can rely on via fiat, I think even if we live in a country that has 100% adopted Bitcoin. The use of fiat will still exist and will even remain easier to spend than using Bitcoin to exchange for goods and services, because Bitcoin is much more difficult for everyone to get than fiat in everyday life, so Bitcoin will still not be easy to sacrifice

But on the one hand, I also agree that fiat is not rubbish because it can still be used by many people to finance our lives. However, what we need to know now is that fiat is no longer suitable for long-term storage, unless we collect it just to get something more valuable, or in other words, for investment capital in more valuable assets. Because fiat cannot maintain its value forever, especially in today's inflationary conditions, of course it will be very difficult for everyone to only rely on fiat without other investments.

Exactly! Fiat money is not intended for long term storage because as far as I know, there are times that they only give limited date and year for fiat to be used because it will no longer have a value. Better to save it in bank if you will use it for paying goods and services since majority of businesses and some services nowadays are accepting card payments and bank transfer.
it will be a waste if you just save your money onhand or via bank without making a profit, so my only advice is that if you save money, just overestimate the amount and never put 100% of the funds into savings only, we need to have at least a minimum value of investment, I know that not everyone has the ability to provide money for their investment because they only earn exact amount from their work, but if there is ever an excess or a sudden amount of money comes, let's set aside a money for our investment so that it can grow our money instead of keeping it in the bank for a long time without increasing the value.

Everyone needs cash,Cash in some countries is like a pass code,and almost every person in town needs to have Cash.Its an instrument for accesibility,safety,and during insecurities,people tend to hold more cash in other to prepare for what lies ahead of the future.Cash is seen and available to everybody,thats why its often referred to as public money.

However,cash plays a very significant role in today's economy just as bitcoin does.The truth is that fait and digital currency,bitcoin,will continue to exists and operate with respect to thier co-existence,and they're both useful currencies to speak of and utilize.Although,some countries prefer fait over bitcoin,and cash has it all like in popularity,dominamce,influence e.t.c. In essence,I totally agree with this topic that cash is not trash and cash does not crash.

To survive, of course we need money for daily life transactions, whether in cash or digital form. because with current technological developments, any transaction can sometimes be done via a digital wallet. but that's not a problem, because it really helps too, now imagine when there was no digital wallet where we would give money or receive money from people far away, it would be very complicated if we had to travel first. In fact, in my opinion, the future of each individual's country or society depends on money. If we have enough money, perhaps the future will be good as well as the country.

indeed cash is not rubbish, because we need cash in everyday life whether it is to provide a living for children or provide wages for other people, maybe it is still better if there is no digital wallet but there is cash, but if it is reversed maybe it is scary, when there is no cash but only digital wallets it seems like it will be difficult occasionally with transactions because not everyone has a digital wallet.

They just over reacting on what they can see on fake guru's saying cash is trash since maybe those people just trying to go after on their listeners. But if we came up on more realistic way we really need cash/fiat since we can't buy any goods or basic needs by using crypto since fiat is more used and been accepted anywhere. This people just overthinking to much that there's something can eliminate fiat at the moment. I believe that crypto is great but it cannot eliminate fiat/cash since for sure the authorities will not let it happen. Also we can't use bitcoin anywhere and we need cash to fulfill our needs that's why people need to do reality check if those people saying cash is trash is still relevant since if they say something more unrealistic then its good for people to stop listening on those crazy guys.

Maybe I think someone who says fiat is rubbish is an expression or term that is difficult for people like us to understand. What I understand is that the term waste is probably that fiat is no longer reinforced with gold and Also don't put it in bank savings for longer. In essence, the government also plays its role so that people's money is eroded by inflation. Fiat is just a belief made by a government.

True money is only (gold) which was created by the Almighty Creator, namely God. We can illustrate that if our money was split into 4 parts, would the money still sell or be worth buying and selling in supermarkets or supermarkets? The answer would definitely be no, right? We are back again with God's creation, namely gold. What if the same thing were made into 4 parts of gold, of course it could still be bought and sold, right?

The bankers of ancient times were much smarter in how they were able to conquer the world until now. By creating fiat and they are looting gold all over the world. Indeed, we have been used to making transactions with fiat for years, we cannot avoid this.

Fiat and krypto certainly have their own advantages and disadvantages, of course, the role and function of fiat currencies is quite meaningful and still rekevan until now, for example, if we want to trade in the crypto market, we must first deposit using fiat and then be able to buy the coins we want and then trade, besides that fiat is also the foundation of the global economy both and is generally used to buy daily necessities.

Indeed, Fiat is also recognized to be quite vulnerable to inflation, devaluation and dominant control from the government and in the case of frequent use fiat is highly prioritized as a means of payment and options and certainly not allowed because it is bound by law. I think so. however, with the development of the Transition to Digital which is growing rapidly, it is now appropriate to transform Blockchain financial technology, Where this innovation is enough to help us later and then the space for integration will definitely meet by itself.

Retail money is much needed for daily activities.  In many countries it is not possible to go a day without cash.  Every job requires cash.  But inflation has become so rampant in many countries that the value of their fiat money is only depreciating by the day.  That is, their cash value is only decreasing day by day.  In this case no one will go to reduce the value of cash in their hands.  So most people are interested in investing money in Bitcoin.  And trying to maintain the value of money.

If you put it like that, it seems like these two things need to be separated first so that everyone doesn't mix up money that will be used for two different things at one time. Because investments and cash used every day must be separated from each other so that everyone can still live their lives as usual. And at the same time, everyone can also invest in Bitcoin if they want to try to keep the value of their money or assets good in the long term.

Because the cash we use every day has to be in our own hands, whereas for the money that will be used for investments such as Bitcoin, we definitely don't need to hold it in our own hands because it is intended for investment by buying Bitcoin on the exchange which then we save it in our personal wallet, so no matter how small the money is now, everyone must be able to separate these two things well enough so that we can do two things at the same time at once.

Investing in bitcoin or any crypto currency right now is really good, I meam its obvious that bitcoin are setting more achivement resulting to crypro currency are being more notced and many investors are willing to invest in bitcoin and into different crypto currency, the only difference of bitcoin and cash is that, yes cash is being used in daily basis, unlike bitcoin you can't use it for everyday to buy things because not all are accepting and adopting bitcoin, What I'm trying to say is that many people are eager to bitcoin adoptationg in thr world but the truth is, ifs not that easy, there's a lot of things need to be fixed and to be sorted out, that's why cash are still needed right now because that is the main subject in exchanging or buying things, that's why I also believe that replacing cash is a very hard thing to do.

Of course Fiat is not trash.
Fiat is issued by the government and is considered a legal means of payment and is generally used by the wider community in their daily lives. Fiat money makes transactions much easier and more practical, everyone who has Fiat money can buy whatever they want with their money without having to adjust to the seller's wishes for certain goods as barter.

Each country certainly has its own fiat money in accordance with the policies issued by the government of that country, its value is also determined entirely by the government which acts as the manager and guarantor. Its function as a legal medium of exchange in a country makes crypto users willing to exchange their assets into fiat because it can make every transaction easier. As long as the government still places Cryptocurrency as a commodity asset, Fiat will remain the choice of all people in a country as exchange for transactions.

Keeping Bitcoin and cash separate? People, it's not simply budgeting. It requires rigorous discipline.  Understanding the fundamental distinction in value Bitcoin is a seismic upheaval, not a stock. It's a shot at a financial system that steals your wealth over time.
Cash is useful, but strategic thought is more important. Delaying spending and realizing Bitcoin's long game is important.  Requires a shift in thinking and belief in decentralization.
Such daily cash separation isn't basic money management. It's supporting a money definition revolution. Bitcoin is a proclamation of transparency, personal ownership, and opposition to central banking greed. Not everyone can do it. But those who understand? The potential is huge. This is smart and almost defiant.

How are you going to counteract the greed of central banks (governments in general) with bitcoin if all non-taxable ways to cash out this asset in the future will be cut off and you will have to share the profits with these greedy guys? Do you think that if you wait a long time, bitcoin will become an official means of payment, and then all BTC-whales will be able to legalize their accumulated bitcoins? The government also realizes (and is wary of) the enormous potential of bitcoin and therefore will never allow it.

Bitcoin is more of an investment asset and therefore, it is unwise to keep all your savings in this crypto asset, because without cash (or online banking) it’s trivial to not even buy a can of cola and a hot dog. Try doing it for bitcoin.

Thinking strategically about the future is important, but don't forget about ongoing day-to-day expenses, for which bitcoin is completely unsuited.

Fiat is a trash you are forced to use, otherwise you can't have access to most products and services in your local society. There isn't a choice in this case, but if there were, I wouldn't use fiat anymore, since Bitcoin seems much more convenient for me. Its value is constantly rising on long term, while fiat is leading purchasing power to very low levels along the years. Sometimes in a timeframe of few months we see huge losses in purchasing power when going to the supermarket. However, people didn't get conscious about how trash fiat is yet.

They use it without contesting or seeking for viable alternatives which can help them to make their money last for longer. Even the barter system looks a better alternative compared to the failed and scammy fiat one, which is profitable only for banks, big companies and members of the government.

I think changing of fortune is not possible but financial status can be change with the help of bitcoin investment. One cannot change his fortune but one can work hard to minimize the hardship and introduce the different ways of earning for himself.

Bitcoin will give you profit but if you possess abilities which is required for bitcoin investment. Bitcoin is beneficial technology but everyone cannot take profit from it so only expert, financially stable, individuals, having patience and knowledge about crypto industry can only take fruitful results from bitcoin investment.

The availability of cash isn't the reason why there is so much inflation around us, it's because the government fiscal policy and the central bank monetary policy agrees to print money without been backed by anything. You often hear that the government reserve is this amount and that amount but can you verify that claim? You can't and the only way to find out is after printing excess money without having much in their reserve and do you know where that short fall comes from, it's from their internally generated revenue.

They don't have much in their reserve and when emergency comes, instead of strategies and borrow, they sneak to print with anticipation to top up the reserve after a quarter of a year but when they fail to meet up the target, the excess money in circulation is more than what you can conver to the reserve and because of that inflation increases until it reach an equilibrium where the real value of the currency are and that's when they start giving hardship policy to strengthen their currency. Banks knows what they are doing, they just don't want to play by the rules and that's why many countries fail with inflation.

If someone wants to change their life for the better of course they have to work harder so that they can achieve the life they want and everyone has different ways of making money which of course they feel comfortable with the work they do and for some Of course, people who invest in Bitcoin must have a good understanding of the investment they are making in order to benefit from the investment they make and it is true that not everyone can benefit from Bitcoin investment because if they do not do it based on correct knowledge and understanding. regarding Bitcoin, of course they will experience losses from the investment they make.

fiat money is still valuable in a way that it is still our currency and it is the one being used for daily transactions and as a citizen there is nothing we can do to change that. If we refuse to use fiat money how could we function in our society?


Investing in bitcoin would not just keep or maintain the value of your money but would actually increase it more

Digital transactions are not a problem for those places and people who are capable of using it. Before digital currencies came, there are money remittance centres where one can send and receive money, though indeed there is still a hassle if you're far from them. Their fees are also a bit high.

A lot of us are thankful that these issues are now solved with the emergence of newer technologies. Money is useful but other qualities will still be needed to become more successful. Cash won't get extinct if some people or places are not ready for the change and it can take a very long time if possible. It's perfectly fine IMO as rushing can only lead to troubles.

Every country that demonetized its fiat is proven very wrong it could affect their economy negatively so whatever they say is just a lie or they are not aware of the long-term consequences. The small-scale businesses will take a hit and probably most of them will be closing down due to this move.

Yes that's right. Bitcoin and fiat money each have a different place in our finances, as they both have unique characteristics that we can distinguish from each other. So the two are interrelated, in fact the two things we need in everyday life cannot be separated. So we cannot consider fiat money as trash because we need fiat money for our daily needs in transactions.

It's just that Bitcoin investment offers a number of advantages that make BTC an attractive choice as a store of value in the current digital era, even though the price fluctuates greatly, Bitcoin is very attractive for the future compared to fiat. With advantages that exceed several of the main criteria of fiat money, Bitcoin has shown potential in the digital era as an innovative solution to the shortcomings of fiat money, and of course BTC has provided an alternative for us to store value according to our needs. this digital era. .

Don't ever think that cash is waste, because our wealth starts with cash, over time we invest in gold, metal and coins in BTC, cash is also a way of buying and selling basic commodities generally among the public, it's true that cash money will not increase, the price remains the same the price, but with cash we can invest in bitcoin, btc and we can buy gold, because the prices will all rise in the future, the difference between cash and bitcoin is the value, if bitcoin the value goes up and down, sometimes it goes up drastically Sometimes it also goes down, but if it's cash, the selling price will remain the same, it will never go up or down, if to make a profit, it's better if we save in Bitcoin BTC for a higher value.

We must not because of the introduction of a new digital currency trash away fiat, when we are yet to see the massive adoption for the use of bitcoin as a legal tender by most countries, the fact that we are allowed to use it does not give the support of the government on it acceptance for use or approval as a legal tender, even though they also realized it as a digital currency, but they still feels its unsafe to that extent because of how such can be used for scam or fraud, while bitcoin is not competing adoption with fiat, but only Exist as a financial alternative.

Yes, that's true, in my opinion digital transactions also really help most of our activities, especially now that many large companies and factories require their employees to have digital wallets or accounts to receive salaries for their work for a certain time. and not only that, now with technological developments we can order anything online, including our own basic needs and pay for it using digital transactions. and that definitely helps.

What you say is correct, even though technology is increasingly developing with digital transactions, cash will not become extinct because of course in my country there are still traditional markets that only use cash for transactions. and I don't think it's possible for cash to become extinct.

From an economic standpoint, I would say cash to me becomes trash when its exchange rate gets way higher on the market and incurs higher interest rates.
At that point, Bitcoin or alternative means of exchange like gold, can become more used while cash becomes for meager necessities that don't cost much.

Cash will also tend to become trash if cryptocurrency gets accepted and regulated and gets used more often, having become a part of society and trades. It may still exist but it might become of less benefits to those in more urban communities that has developed and operate mostly on cashless economy.

Nowadays, people are using online banking services instead of carrying paper money, as a result of which people can transfer their money easily and securely from one place to another. Earlier there was a time where there was a need to carry money and then accept a service but now there is no such hassle now you can complete any transaction through your bank account or online banking. Due to such modern features the people of my country have reduced the use of paper money a lot. In our country now major transactions are done through online banking and all the retail transactions are done through paper money. In terms of the way people are using online banking or digital money in our country, I think that the use of paper money in our country will decrease a lot within the next 10 years.

Not all country already introduced the use of digital payment or digital transactions, some of them still have the old transactions or even in the trade era without the use of cash or digital payment, most of people know cash transactions on a daily basis and if they get introduce the use of the online payment but the community doesn't support at all this feature or innovation might become trash instead of being more useful to the a community. It takes time before people adapt to these changes. Just like if you are privileged with the use of the new currency it is good for you to adopt and take advantage.

Right, I think we are really benefiting from online banking which has helped us in terms of making transactions easier and safer, not having to carry a bunch of banknotes like when you want to go shopping because now most people take advantage of this convenience where they go to the market with just a few banknotes in their wallet along with some identification cards while most of the money is kept in the account, And also lately there are quite a lot of sellers who accept online payment systems where you just transfer to their account address, and maybe the only problem is that you can only use digital money when you are in a place that is covered by the internet network, because if you are in a remote or rural area then it is usually likely that it is an area that is not fully covered by the internet and maybe you will not be able to take advantage of the convenience of digital money transactions, so we also have to look at the situation and conditions as well. Overall, yes it is likely that in the next few years the use of paper money will probably decrease.

With bond yields starting to creep again and inflation having a second wave here, it is clear that cash is going to be considered King again shortly.  If stocks start really correcting in a big way like in 2008 and bank interest rates near 6%, it will be very clear that cash is the place to have been.  I'm not sure if that's what we're going to see, but that's the direction we appear to be headed at the moment.  I'd say we've hit the point of taking a little off the table after this 15 year bull run and making sure that you're setup with cash in the event you suffer a job loss and serious drop in asset value.

That is why cash cannot be compared with other assets other than cash, because we will never find any advantages or similarities in cash when we compare it with other assets such as gold, Bitcoin and others. So cash will only be used for ordinary payments which are still often seen in traditional life so it is natural that some people consider it as waste.

And if the use of cash can be reduced in society with more other options being used by more people, I think cash could really become waste because very few will use it for anything. But because currently many people still use cash in life even though there are other options such as gold and Bitcoin, I will not immediately consider cash as waste because I can still use it to buy things that I need in my current life environment. However, I also wouldn't be surprised or deny this if it could actually happen to cash in the future.

Yes online banks are helping us to make transaction easily it even at that we still need cash because of local markets. There are some people that sell in those markets that don't take or accept transfer and the funniest part is that those women do not have bank accounts so they is no way they can accept transfer. And another instance is that those who hawked goods on the public places. So because of those people even we are in the new generation of technology we still need to move along with the along people so that the society will balance. If not the traditional Banks are not compare to the new online Banking system because the transactions of the traditional Banks are very chaotic in nature.

And also not availability of the Banknotes in the country is affecting many businesses because the country has not ready prepared for this cashless society. Cashless society is good if only the public is well informed and given some orientations and some teachings of how to use the system and not coming up suddenly to do it.

Cash is where you start believing in it. Inflation come along.

You don't believe in a carrot if it's certain.. Doubt.

No matter what we are investing our money in whether cryptocurrency or forex market, we all need fiat to keep running transactions..
Even though we are investing our money in cryptocurrency we still need to use cash to run our daily activities.
We can't do without cash because each country has their own fiat and that is what is needed to be spent if we want to live in such a place.
Even though we don't like using cash to pay for goods and services, we are still going to use fiat to run digital transfer to where we are making payments.

All the activities we do currently still require cash to be able to carry out transactions in everyday life, especially since the location where we live is still far from the development of the use of digital currency, of course we have to withdraw the assets we have so that we can use them. fiat money so that we can transact in the environment where we live, because some ordinary people of course they will prefer to transact using fiat money because they don't understand digital currency well, but for those who already understand digital currency, of course they will really like to use it because of the convenience offered by the digital currency system.

What do you think will really change after that? If a country reduce the cash by 70% and let the 30% available for rural areas since they likely don't have access to the internet and allow the rest to go digital, will there be difference between what cash is doing? I don't think so, inflation will remain the same because the supply of money will remain but this will allow the country to be able to track money easily and also block some.

The only benefit of going digital is that the central bank will not spend money on printing again but even if they stop funding printing of money, that money will go to improvement of digital payments and frequent update to make the cashless to be faster, clean and easy for everyone to use.

if you do research on google, i'm sure you will find one or two currencies that are completely useless ^{(have no value)}, this is all due to the incompetence of their government, even though managing a country's economy is not that difficult. cash is still the main means of human transactions today, especially for those who still live in poor or underdeveloped areas.  adding new money ^{(printing new money)} is not the right solution to increase people's purchasing power, in the future the government may switch to digital currency / fiat and will not focus too much on paper fiat.  fiat will not disappear from world circulation, in fact fiat will continue along with crypto until the end is difficult to predict.

The evolution of financial technology and that is the reality today. Well, regarding the potential for reduction, it is certain that it will occur because of the increasing trend of non-cash payments where indirectly the use of applications when viewed from the number of their use continues to increase, especially from various circles including traditional merchants. If I'm not mistaken, a mobile phone number can sometimes be an account number too.

It only takes a few days to learn and after that, if it is familiar, I think it will get used to itself, just like we are also in the process of depositing or doing WD.

This is really interesting, because when the state makes it possible and easy to track money because its use has been reduced, that's when there will be slight changes in each region that implements this. Because this can also be said to be a form of fighting the current inflation so that rural residents will also be more accustomed to it in the future.

Well, this could also be a very good option although I'm not sure central banks will stop printing money because they already support digital payments in any form. Because the banks also don't want to lose because of the presence of digitalization in society, the banks will definitely continue to do the old things that can make them profitable like before.

Indeed, in local or traditional markets it seems that there are no online payments, the majority of local or traditional markets definitely use cash as their transaction tool to buy and sell in that market. However, nowadays, with the development of sophistication, there are many things that can be done online, including shopping and buying the goods we want. Of course, they can't make all payment transactions online.

I agree with that, it might be difficult if there are no paper money in a country because even though online payments help us a lot, not all sellers provide online payments.

Only bitcoin purists would be so stupid as to say that Fiat is trash, cause a lot of us here still live by the fact that without fiat, bitcoin wouldn't even be a thing.

Imagine if you get rich off of bitcoin, but you couldn't cash it out, nor could you use it to buy off stuff, that would suck right? The fact alone that you're able to consider yourself a fucking millionaire but you couldn't even use it for shit is going to drive a lot of us in here crazy. Plus it's not like the outside market's bitcoin-based, so you still wouldn't really be able to use bitcoin to its full capacity even if it were to be allowed to be used for purchases and transactions.

Cash is not trash, the system that made it and manages it is, built on top of lies and the blood and sweat of the common man while they get rich off of someone labor, then they go on public telling people that they deserve what they got cause they worked hard for it even though a good chunk of these motherfucking billionaires are nothing but a nepo baby, or perhaps even worse, a labor abuser. Cash is not trash, it's the people who owns the most of it that make it a shitty asset to hold and use.

Yes, fiat money has played a good role into the life of many people to became a BTC hodlers today because they use fiat money to buy BTC from the exchange market, which is the best place anyone can buy BTC from and hodl them in their wallets.

I don't think those that made BTC legal tender in their various countries, will pass through what you pass through during the change of new currency in your country because they can use BTC to buy any goods and services and pay with their their BTC because their government made it legal tender.

 Cash is not trash like some of the country who don't make BTC legal tender, and they place a law against anyone using BTC to buy any goods in the country and if such person is caught in such country that BTC is not legal tender, it can be sentence to prison because the government value their currency than decentralized currency.

Fiat does have a much greater use in the journey of human life and even when we want to buy bitcoin we actually need fiat. Nobody says fiat is rubbish because it has so many uses in such a wide scope. The exception is if someone mines or works for a fee using bitcoin, so fiat is not really necessary, but if we talk in general, we can conclude that fiat is still a necessity for humans today.

I have often said in the past that bitcoin and fiat can live side by side and do not need to be competitors with each other. As long as government regulations make it clear that legal means of payment still use fiat, fiat will forever be a necessity for humans. The correlation of fiat as rubbish is not entirely true and we still need it today as a general transaction tool.

Cash is really convenient daily. Isn't the system behind it the true issue? How it's rigged against regular people like us?

Bitcoin isn't just money. A new perspective on money. No banks, middlemen, or governments lowering its value. Control your riches. Bitcoin can't buy a latte yet, at least not everywhere. That's beside the point. Long-term, the script could be turned

This is about establishing a better, fairer system, not destroying it. Like a seed, Bitcoin has the potential to grow big, but it needs time. Dismissing it because it's not perfect today misses the purpose. Let's imagine a world where your money is yours. Shouldn't we fight for that?

This is true, making use of fiat can not be eliminated permanently because of the daily transactions which involves cash (fiat), looking at the countries which Bitcoin is generally not accepted, it will be difficult for people to survive without sticking to fiat which is the majoj currency that is largely used for daily transactions, regardless of the recent development of cryptocurrency, most people still value their local currency because they have easy way of spending it than the way cryptocurrency can be spent or used for transactions by them.

People who use Bitcoin to pay for goods and services are people who's businesses are either connected to Bitcoin users or people who do some online business else it's still difficult to use Bitcoin where it is not acceptable.

that's true, I think even though technology is developing, it seems like cash will not become extinct, although maybe technology will get rid of cash payments, but if you look at each person's different abilities, it seems like cash will still be there because there are some areas that are far away. from the development of digital currency, such as traditional markets which are known as markets that do not use digital payments. And also, in my opinion, not everyone understands digital payments, even though they are simple and easy to understand.

In my opinion, this is just as easy, there is no difficulty in paying, it's just that digital money may not be possible when there is no internet connection if the payment involves an internet connection, because I think of course for digital transactions there must be an internet connection, whereas for I don't think cash payments exist.

This is part of everyone's efforts not to store paper like money for a long time so they are very willing to exchange that paper for Bitcoin which has become a long-term asset in many people's lives. So if you say fiat has played a good role in many people's lives, then we all have to mention Bitcoin as a super good role for everyone. Because it is able to provide more profits to people who hold it in the long term so it has beaten fiat for this although we also don't have to consider fiat as rubbish.

Even though things like this can be done in several countries because they have permission from their respective governments, for some people who already know the current limit of Bitcoin supply, it feels like they would just prefer to use fiat to get goods and services from on using Bitcoin to exchange it for goods and services. Because for me Bitcoin is much more valuable than any goods and services in the world so I am not surprised when there are countries that want to implement payments in the form of Bitcoin to exchange it for goods and services.

Carrying coins for legal tender will probably become disused in some countries.  The reasons being costs to transact and efficiency, coins have to be processed and moved physically where as any electronic payment is cheap and instant so the bias is quite heavy.  The biggest change will just be government led electronic and it might also improve security vs plain cash which can lead to some vulnerable people being targeted for that cash.


I heard a while back the total cost of making but also subsidies to produce the plain dollar note exceeds the value of the notes used.  Its a service to provide that cash that will probably be withdrawn at some point.   I heard of a country that just removed all cents or equal to that level of value from their system, the inflation over many years made that amount become pointless anyway and in accounting they can continue with it electronic only not physically processing tiny amounts.