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Author Topic: Do you Still believe in Fiat?  (Read 74821 times)
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January 13, 2017, 03:11:38 AM
 #1001

Very interesting book about the United States Federal Reserve. 
I truly believe that everyone in the world should read this. It will change the way you think about banks and money.
https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/091298645X

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January 13, 2017, 03:22:44 AM
 #1002

Of course i still believe in fiat, because many people around the world also using fiat as the payment. I'm sure all people still believe in fiat. Actually i also believe in bitcoin, but still few people that know about bitcoin. Fiat will still used until the electric money come.


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January 13, 2017, 03:45:13 AM
 #1003

Of course i still believe in fiat, because many people around the world also using fiat as the payment. I'm sure all people still believe in fiat. Actually i also believe in bitcoin, but still few people that know about bitcoin. Fiat will still used until the electric money come.
We cannot deny the fact that although we are bitcoin lover but still we need fiat for our daily activities in life, in the future bitcoin will be more popular but the fiat system is still gonna work. It's just an online currency that we can use to transact but it still relies heavily on fiat.

 
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January 13, 2017, 04:45:42 AM
 #1004

Of course i still believe in fiat, because many people around the world also using fiat as the payment. I'm sure all people still believe in fiat. Actually i also believe in bitcoin, but still few people that know about bitcoin. Fiat will still used until the electric money come.
Yes, this is a fact that is undeniable, perhaps using bitcoin is no more than 3℅ of the world's population, so for current and 20 years from now is still impossible to eliminate fiat money. there are still many things to be improved if it is to eliminate fiat money, and it takes a long time.
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January 13, 2017, 04:57:55 AM
 #1005

Yes, ofcourse, all of us believe in fiat!!
Tell me, the Bitcoin enthusiasts become happy one day and sad other day. Why?
All because value of Bitcoin measures again fiat money only. I think bitcoin can never replace fiat money for "Measure of value" function.
However, it can be used as "medium of exchange" , "store of value" , "standard of deferred payment" but only adjacent to fiat money!!

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January 13, 2017, 06:23:40 AM
 #1006


It's just an online currency that we can use to transact but it still relies heavily on fiat.

Bitcoin is meant to be more than just that , atleast for  ow its exchange rate is based on fiat however in the future bitcoin could be getting its own value. More and more country is finally getting their hands on bitcoij so such thing is not really impossible as there are tons of opportunity for bitcoin to develop more especially when a country adopt bitcoin as their currency though i highly doubt that happen
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January 13, 2017, 06:44:44 AM
 #1007

I can believe in fiat at this time  but in the future I can not because we are using smart devices in the digital world and we can use payment tools online  such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .
as time goes by i believe the time for bitcoin will come soon.

not for now , too early to say have no believe in fiat since we have spend money for daily needs in cash , not digital currency. in the next 10-20 years it might can happened. even bitcoin can be an international currency.

Ver unlikely to happen that bitcoin will become an international currency, governments can
make digital currency that can rival bitcoin which is likely to happen if they implement a digital currency.
but still the mother of cryptocurrency , the mother of digital money is bitcoin isn't it?

if then every government around the world creates their own cryptocurrency they will still refer to bitcoin which in the end people will come to bitcoin as option, it is required a long long time to beat bitcoin as digital money.



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January 13, 2017, 07:15:39 AM
 #1008

The importance of fiat is evident from the very fact that the exchange rate of Bitcoin is given in fiat currencies such as the United States Dollar, Russian Ruble, the United Kingdom Pound, Chinese Yuan, and Euro. Why the exchange rates are not given in gold or platinum?

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January 13, 2017, 10:12:11 AM
 #1009

The importance of fiat is evident from the very fact that the exchange rate of Bitcoin is given in fiat currencies such as the United States Dollar, Russian Ruble, the United Kingdom Pound, Chinese Yuan, and Euro. Why the exchange rates are not given in gold or platinum?

Because gold and platinum isn't a currency. Well, if you'd prefer exchanging your bitcoins to that, then look for a website that sells gold. But in cryptocurrency, it would be mainly fiat and other cryptocoins.

Simply look at a physical money exchanger. Do they exchange your dollar into gold directly? No. Because it is not a currency. That information alone doesn't make fiat important, although it is.

Yes, this is a fact that is undeniable, perhaps using bitcoin is no more than 3℅ of the world's population, so for current and 20 years from now is still impossible to eliminate fiat money. there are still many things to be improved if it is to eliminate fiat money, and it takes a long time.

I think it's even just around 0.1% of the world's population or even much less than that. We're lucky to be the ones to have bitcoins but unfortunately that comes with a disadvantage: we will be the one that's going to wait the longest for bitcoin to completely replace fiat money.

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January 13, 2017, 12:58:28 PM
 #1010

The importance of fiat is evident from the very fact that the exchange rate of Bitcoin is given in fiat currencies such as the United States Dollar, Russian Ruble, the United Kingdom Pound, Chinese Yuan, and Euro. Why the exchange rates are not given in gold or platinum?

You got that right dude. Even with the rapid pace that digital currency is moving forward now, majority of the people still wpuld prefer fiat over digital transactions. Fiat still holds the world's markets and i also don't see this changing most likely during this generation. Crypto at the moment or for the next couple of years would act as support or alternative for the current reigning fiat currency

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January 13, 2017, 01:20:50 PM
 #1011

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.
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January 13, 2017, 08:18:52 PM
 #1012

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.

Yes, you are right, digital forms of money is very promising and convenient. But many people are conservative and used to use paper money. Similarly, they do not trust cryptocurrency. Therefore, Fiat will long live
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January 14, 2017, 01:32:25 AM
 #1013

I believe in fiat so much I use it every day!


Seriously though, we don't want Bitcoin to overtake fiat. If we do we'll see every major power in the world seeking to exert influence and control over it. It's best if bitcoin is broadly available and accepted and thriving a step outside the spotlight. That is what will keep it going and give it unlimited and unhampered success.
If that happen then other powers of the world will get in to avoid this other power to take an advantage over them even if they don't believe in bitcoin and don’t see its usefulness since they are not going to leave an opponent to get an advantage without any competition.
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January 14, 2017, 02:03:44 AM
 #1014

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.

Yes, you are right, digital forms of money is very promising and convenient. But many people are conservative and used to use paper money. Similarly, they do not trust cryptocurrency. Therefore, Fiat will long live
Even if how good bitcoin is but without the trust of the majority of people it will not be a mainstream currency, fiat will last forever as long as there is still order in this world. Bitcoin on the other hand is definitely very useful only for online transaction especially if you want to hide something or you want bypass a law.

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January 14, 2017, 06:29:55 AM
 #1015

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.

Yes, you are right, digital forms of money is very promising and convenient. But many people are conservative and used to use paper money. Similarly, they do not trust cryptocurrency. Therefore, Fiat will long live
Even if how good bitcoin is but without the trust of the majority of people it will not be a mainstream currency, fiat will last forever as long as there is still order in this world. Bitcoin on the other hand is definitely very useful only for online transaction especially if you want to hide something or you want bypass a law.
I agree with you,for some reasons why questioning if fiat still exists,of course it really exists,before we are on the knowledge on how make things easy for us,fiat evolves around the world,we cannot still predict in the long run how cryptocurrency works.For those who do not know then its the fiat use by means and mode of payment.

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January 14, 2017, 06:52:55 AM
 #1016

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.
So why some people choose bitcoin. You said that bitcoin is just an option to the current fiat system, so why they choose bitcoin? Not fiat. The answer is really simple, bitcoin can do what fiat can't. Bitcoin can be used for world wide transaction only in few minute, but fiat can't. Why they not use fiat directly? Because fiat didn't have many advantage. I think fiat is bad to be a currency, probably gold or bitcoin will replace it in the future.

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January 14, 2017, 07:20:27 AM
 #1017

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.
So why some people choose bitcoin. You said that bitcoin is just an option to the current fiat system, so why they choose bitcoin? Not fiat. The answer is really simple, bitcoin can do what fiat can't. Bitcoin can be used for world wide transaction only in few minute, but fiat can't. Why they not use fiat directly? Because fiat didn't have many advantage. I think fiat is bad to be a currency, probably gold or bitcoin will replace it in the future.

Gold or bitcoin will not replace fiat, and until whenever I think Fiat will continue to be used. Bitcoin would in the future be used as an alternative concurrently with fiat, so both will remain in use. Besides the main purpose of the creation of Bitcoin is not to replace fiat, but as an alternative mechanism of transaction value is cheap, fast and secure. Fiat is one of the identity of a country's economy so it's impossible to replace and removes fiat.
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January 14, 2017, 07:25:30 AM
 #1018

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.
So why some people choose bitcoin. You said that bitcoin is just an option to the current fiat system, so why they choose bitcoin? Not fiat. The answer is really simple, bitcoin can do what fiat can't. Bitcoin can be used for world wide transaction only in few minute, but fiat can't. Why they not use fiat directly? Because fiat didn't have many advantage. I think fiat is bad to be a currency, probably gold or bitcoin will replace it in the future.

Gold or bitcoin will not replace fiat, and until whenever I think Fiat will continue to be used. Bitcoin would in the future be used as an alternative concurrently with fiat, so both will remain in use. Besides the main purpose of the creation of Bitcoin is not to replace fiat, but as an alternative mechanism of transaction value is cheap, fast and secure. Fiat is one of the identity of a country's economy so it's impossible to replace and removes fiat.
Actually Fiat can do what Bitcoin can also do. Even the value of Bitcoin is based in Fiat from Dollar to Euro. Credit Card bills are paid in cash and what you use in Paypal is loaded by Fiat. People don't worry Fiat will stay longer than Bitcoin believe me as long as there is a government there will be Fiat currency.

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goldcoinminer
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January 14, 2017, 07:56:13 AM
 #1019

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.
So why some people choose bitcoin. You said that bitcoin is just an option to the current fiat system, so why they choose bitcoin? Not fiat. The answer is really simple, bitcoin can do what fiat can't. Bitcoin can be used for world wide transaction only in few minute, but fiat can't. Why they not use fiat directly? Because fiat didn't have many advantage. I think fiat is bad to be a currency, probably gold or bitcoin will replace it in the future.

Gold or bitcoin will not replace fiat, and until whenever I think Fiat will continue to be used. Bitcoin would in the future be used as an alternative concurrently with fiat, so both will remain in use. Besides the main purpose of the creation of Bitcoin is not to replace fiat, but as an alternative mechanism of transaction value is cheap, fast and secure. Fiat is one of the identity of a country's economy so it's impossible to replace and removes fiat.
Actually Fiat can do what Bitcoin can also do. Even the value of Bitcoin is based in Fiat from Dollar to Euro. Credit Card bills are paid in cash and what you use in Paypal is loaded by Fiat. People don't worry Fiat will stay longer than Bitcoin believe me as long as there is a government there will be Fiat currency.
And it's better to stay that way. Some people are thinking crazy things really, in the first place, it should not be ask if we believe in fiat or not because the answer is too obvious, we use fiat regularly.

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lordquanta
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January 14, 2017, 08:08:21 AM
 #1020

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.
So why some people choose bitcoin. You said that bitcoin is just an option to the current fiat system, so why they choose bitcoin? Not fiat. The answer is really simple, bitcoin can do what fiat can't. Bitcoin can be used for world wide transaction only in few minute, but fiat can't. Why they not use fiat directly? Because fiat didn't have many advantage. I think fiat is bad to be a currency, probably gold or bitcoin will replace it in the future.

Gold or bitcoin will not replace fiat, and until whenever I think Fiat will continue to be used. Bitcoin would in the future be used as an alternative concurrently with fiat, so both will remain in use. Besides the main purpose of the creation of Bitcoin is not to replace fiat, but as an alternative mechanism of transaction value is cheap, fast and secure. Fiat is one of the identity of a country's economy so it's impossible to replace and removes fiat.
Actually Fiat can do what Bitcoin can also do. Even the value of Bitcoin is based in Fiat from Dollar to Euro. Credit Card bills are paid in cash and what you use in Paypal is loaded by Fiat. People don't worry Fiat will stay longer than Bitcoin believe me as long as there is a government there will be Fiat currency.

Fiat currency will be there as long as Bankings and  is there. Big banks control economy to much greater extent. Paypal or credit card have their own pros and cons. Credit Cards and paypal are backed up by Banks which has helped gain them widespread popularity (for Cr cards  strong marketing has helped to gain acceptance).

i don't have to explain advantages of proven digital currency like bitcoin,  there are lot of things in bitcoin  which are beyond fiat currency. Like chinese govt devaluation affected overall wealth of chinese people. same wont happen with bitcoin as no govt can change it's value.

Bitcoin will not replace fiat at all at any give stage. However it has all ability to become strong global currency.
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