Absolutely nothing backs Fiat paper its completely worthless

[Bitcoinpro]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

[1714927408]

1714927408

[SFR10]

I agree with you. The only think that backs fiat is only people's belief that it has a value that could be used into exchanging it for something else (that was the plan when it was invented) but it's backbone is an empty space that never have been filled and BTCitcoin taking over all the monetary exchanges would certainly damage fiat as a whole.

[Lituation]

Government power backed fiat money but that won't be here forever. We'll go to the way of one nation world, called new world order. 20-50 years later there will be no government than one nation. It's not hard to say they use a digital currency for controlling people.

[franky1]

its not backed by anything solid.. but it is backed by legislation..

EG the minimum wage laws make it so that a bank note is the equivelent to atmost X.X hours
for instance in california a $10 bank note has the belief that its back atmost 1 hour of sweat labour ($10 minimum wage)

yes i know people get paid more than $10 an hour.. hense why i said atmost..

also
tax that requires to be paid only in fiat is another reason that fiat holds value as it forces people to handle dollar. rather than choose a better currency to use.

inshort:
fiat is backed by legislation and the weak belief that it has value of sweat labour. but is not backed by anything of real value/substance.. which some say that paper bank notes are backed only by other pieces of paper (laws)

[mirana12345]

Fear and blind trust that sheeps have for fiat is what's backing it.

1% of people are holding majority of value, they dont want anything to change, but it's the 99% of the rest that should do something. But why isn't anything happening ?
You could compare it to slave owner with a gun and 6 bullets, holding countless people as slaves - Fear is whats holding those people down. Noone wants to be one of the 6 people
that will fall down in order for the rest of people to live free.

Bitcoin gave people the chance to be a part of monetary revolution, where you cant print money by your wish and desire, where noone can take your funds away from you,
where you are financially free.

You have to be blind and deaf to think that this kind of revolution will pass without a struggle. Those in power will go far and beyond to stop or control this.
Russia and China are class 1 examples of modern human slavery, no wonder the battlefield is taking place there first off.

The main fact to remember is that they can not shut down bitcoin network. All they can do is intimidate and restrict it's use. So in the coming years look not so much on
the fiat-bitcoin conversion value. Be brave enough to value your coins in relation to the overall bitcoin supply , because it's all that matters the most.

Bitcoin investments based solely the idea of cashing in on it later on are little man's thoughts and dreams. Be brave enough to not fall to that kind.
Network needs more merchants willing to be a part of bitcoin, and needs you as user; as a part in the future of free monetary system, where no third party or agency can claim on what's yours and yours alone.
We're growing stronger with each passing year, and don't let petty things convince you otherwise, we will be victorious !


This is the truth, this is not manipulation. This is a clear sign we're on the right path.
https://blockchain.info/charts/n-transactions?showDataPoints=true&timespan=all&show_header=true&daysAverageString=7&scale=0&address=




The waters are stirred, and the fear in our adversaries is growing. Be proud that you're a part of the bitcoin network.

[bargainbin]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

Fiat is backed by jackbooted government thugs.
Bitcoin is backed by ...nothing. Please understand what the word "fiat" means, and why BTC is simply another form of fiat.

[Amph]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

Fiat is backed by jackbooted government thugs.
Bitcoin is backed by ...nothing. Please understand what the word "fiat" means, and why BTC is simply another form of fiat.

bitcoin is backed by its own usage and by the electricity used to mine, it's backed by its own technology

far better than being backed by a printer that print with the sole purpose to increase inflation and make everybody poor, minus government...

[rajat08]

BTC or fiat will not overpower each other, I think there will be balance between these two. If BTC overpower then there would be some sudden economy change, which will be very big for countries.

[mirana12345]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

Fiat is backed by jackbooted government thugs.
Bitcoin is backed by ...nothing. Please understand what the word "fiat" means, and why BTC is simply another form of fiat.

bitcoin is backed by its own usage and by the electricity used to mine, it's backed by its own technology

far better than being backed by a printed that print with the sole purpose to increase inflation and make everybody poor, minus government...

Bitcoin can transact value from one point to another better than any fiat ever created. The biggest problem bitcoin has is that people are mostly too dumb to see it
and the fact that it shows how actually worthless and dumb current system is.

As you say it - infinite inflation, rigged money making machine that works in favor only of it's owner.
I just can't believe people are still dumb enough to place trust in it.

[bargainbin]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

Fiat is backed by jackbooted government thugs.
Bitcoin is backed by ...nothing. Please understand what the word "fiat" means, and why BTC is simply another form of fiat.

bitcoin is backed by its own usage and by the electricity used to mine, it's backed by its own technology

far better than being backed by a printer that print with the sole purpose to increase inflation and make everybody poor, minus government...

Bitcoin is backed by burnt (spent, turned into heat) electricity? That makes as little sense as fiat being backed by the billions of dead souls in cemeteries. Nonsense.
"Backed by its own technology" makes equally little sense, what does that even mean? Do you understand what "backed" means, when talking about money?

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

[QuestionAuthority]

Two things back the US dollar.

Military might



And insane patriotism

[Amph]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

Fiat is backed by jackbooted government thugs.
Bitcoin is backed by ...nothing. Please understand what the word "fiat" means, and why BTC is simply another form of fiat.

bitcoin is backed by its own usage and by the electricity used to mine, it's backed by its own technology

far better than being backed by a printer that print with the sole purpose to increase inflation and make everybody poor, minus government...

Bitcoin is backed by burnt (spent, turned into heat) electricity? That makes as little sense as fiat being backed by the billions of dead souls in cemeteries. Nonsense.
"Backed by its own technology" makes equally little sense, what does that even mean? Do you understand what "backed" means, when talking about money?

it make perfect sense instead, the electricity will force a minimum value because the halving otherwise will kill the miners, so there is an incentive to have a greater value in the future, for every new halving

by its own tech i mean that with the blockchain you can actually expand your business by build something on top of it, which will increase the awareness of bitcoin thus making it more valuable

but apparently you can not think outside of your fiat world contorlled by a greedy governmetn and a printer

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

how a string has less value than a toilet paper, only because a certain centralized autorithy said so? don't make me laugh

[mirana12345]

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

Bitcoin does transact value, it can also be used to store value,  as well as many other things.
Saying anything but is nothing other than ignorance, or intentional lying. So what is it in your case ?

[bargainbin]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

Fiat is backed by jackbooted government thugs.
Bitcoin is backed by ...nothing. Please understand what the word "fiat" means, and why BTC is simply another form of fiat.

bitcoin is backed by its own usage and by the electricity used to mine, it's backed by its own technology

far better than being backed by a printer that print with the sole purpose to increase inflation and make everybody poor, minus government...

Bitcoin is backed by burnt (spent, turned into heat) electricity? That makes as little sense as fiat being backed by the billions of dead souls in cemeteries. Nonsense.
"Backed by its own technology" makes equally little sense, what does that even mean? Do you understand what "backed" means, when talking about money?

it make perfect sense instead, the electricity will force a minimum value because the halving otherwise will kill the miners, so there is an incentive to have a greater value in the future, for every new halving

by its own tech i mean that with the blockchain you can actually expand your business by build something on top of it, which will increase the awareness of bitcoin thus making it more valuable

but apparently you can not think outside of your fiat world contorlled by a greedy governmetn and a printer

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

how a string has less value than a toilet paper, only because a certain centralized autorithy said so? don't make me laugh

You clearly don't understand what "backed" means, let me educate you:
[Backed currency is a form of money] whose value has a direct correspondence with the value of a commodity (such as gold), whether or not it is redeemable in that commodity on demand.
Read more: http://www.businessdictionary.com/definition/backed-currency.html#ixzz3y5QIDCcv

Now stop rehashing infantile pap like "toilet paper" & "you can not think outside of your fiat world contorlled [sic] by a greedy governmetn [sic] and a printer," and try to *understand* the shit you rage against.
Otherwise, you come off as you do now -- ignorant & illiterate.

[bargainbin]

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

Bitcoin does transact value, it can also be used to store value,  as well as many other things.
Saying anything but is nothing other than ignorance, or intentional lying. So what is it in your case ?

A binary string can also be used to store and transmit value.
Banks do it all the time, that's how fiat money moves around. Surprised?

I can also send my PIN code to my GF as an ASCII string, and she can take money out of a cash machine.
This doesn't mean that ASCII strings send value -- merely send information. Parties on both ends need to agree on what that info means.

Do you understand better now?

[MicroGuy]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

I agree that cryptocurrencies will eventually replace Ponzi fiat, but there is something backing fiat; the world's militaries.

[SuperCoinGuy]

Does the US government even have enough gold reserve to back the value of the currency? If the worldwide Bitcoin community back the crypto its price should shoot to the Moon in 1 day 

[Snorek]

when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner

I agree that cryptocurrencies will eventually replace Ponzi fiat, but there is something backing fiat; the world's militaries.

That is true, cryptocurrencies will eventually replace standard FIAT. But it won't be bitcoin, litecoin or any other sovereign and decentralized digital currency.
As long as we have strong authority of government they won't allow something they don't control to be main payment method. It will be either their own issued crypto or no crypto at all.

[franky1]

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

digital strings...

so wire transfers are different how??
wire transfers are digital strings too.. so i guess fiat is "anything but value"

[bargainbin]

@mirana12345
>Bitcoin can transact value from one point to another better than any fiat ever created.
No. Bitcoin can not "transact value from one point to another."  It can send digital strings, which are anything but value.

digital strings...

so wire transfers are different how??
wire transfers are digital strings too.. so i guess fiat is "anything but value"

Do you like to read? Here:

...
A binary string can also be used to store and transmit value.
Banks do it all the time, that's how fiat money moves around. Surprised?

I can also send my PIN code to my GF as an ASCII string, and she can take money out of a cash machine.
This doesn't mean that ASCII strings send value -- merely send information. Parties on both ends need to agree on what that info means.

Do you understand better now?