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Author Topic: Do you Still believe in Fiat?  (Read 74821 times)
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January 14, 2017, 08:49:35 AM
 #1021

Governments and central banks are too powerful in the present day economic climate, so believe in it or not, I have to keep using fiat for my day to day living, having said that I do believe in diversifying in other currencies such as Bitcoin and precious metals, if one has spare money to buy.

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January 14, 2017, 09:38:19 AM
 #1022

Governments and central banks are too powerful in the present day economic climate, so believe in it or not, I have to keep using fiat for my day to day living, having said that I do believe in diversifying in other currencies such as Bitcoin and precious metals, if one has spare money to buy.


The use of fiat is unavoidable, we live in the world with government, so we have no choice but to use it whether we like it or not. The use of bitcoin doesn't mean would lessen the use of fiat too.

We maybe using bitcoin, but since most of the commodity in real life is not payable with bitcoin, we still need to cash it out to fiat and use it. With that said, I could say, I don't see any problem in using fiat.

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January 14, 2017, 09:59:07 AM
 #1023

We should have in mind, that banking systems also evolve to make payments more convenient. Today, using fast money transfer when shopping online is more comfortable than any method of BTC payment. Moreover people have feeling, that it's completely secure as provided by their bank. I can see no reasons for BTC to replace fiat money.
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January 14, 2017, 10:07:45 AM
 #1024

Governments and central banks are too powerful in the present day economic climate, so believe in it or not, I have to keep using fiat for my day to day living, having said that I do believe in diversifying in other currencies such as Bitcoin and precious metals, if one has spare money to buy.


The use of fiat is unavoidable, we live in the world with government, so we have no choice but to use it whether we like it or not. The use of bitcoin doesn't mean would lessen the use of fiat too.

We maybe using bitcoin, but since most of the commodity in real life is not payable with bitcoin, we still need to cash it out to fiat and use it. With that said, I could say, I don't see any problem in using fiat.
This is true and this is the main reason why we are still using fiat since we are on a government which is being decentralized so it means we really need fiat in order to live and most people do really believe on fiat no matter what even how bitcoin would progress in the future even we do have cashless society but still fiat would still exit on matter what.

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January 14, 2017, 01:30:28 PM
 #1025

We should have in mind, that banking systems also evolve to make payments more convenient. Today, using fast money transfer when shopping online is more comfortable than any method of BTC payment. Moreover people have feeling, that it's completely secure as provided by their bank. I can see no reasons for BTC to replace fiat money.
I think that is not the banking system which make fastest payment but it is the debit cards which do that convenience in shopping but the problem is that it often have high fees when deposit through bank to these cards which is not a problem in bitcoin payment. In the modern era people often prefer to bitcoin payment because they do not want to pay high fees to banks especially the product providers which have their reserves in the banks.

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January 14, 2017, 04:45:58 PM
 #1026

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.

Thats is exactly what I am also preaching that the way people are seeing bitcoin as a substitute but thats not it. It cannot and will never because to make that happen, government will have to be involved which means another cost on the part of government. The cost of research, cost of awareness, cost of security infrastructures, cost of establishing regulatory institution among other cost and government will have to be sure of the revenue to come from embarking on such enterprise among other things which I am not sure governments are ready for... It will only serve as a complimentary currency and I still believe in FIAT...
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January 14, 2017, 08:00:09 PM
 #1027

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 am sure that the government will never allow to Fiat disappeared. After all, then just die state. Therefore, Fiat needed. And we need to learn how to use these two systems simultaneously
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January 15, 2017, 12:36:53 AM
 #1028

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
Yes, and we have to use fiat in any way. And it doesn't mean we really trust it as the value constantly decline due to inflation.

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January 15, 2017, 08:51:32 AM
 #1029

Yes, and we have to use fiat in any way. And it doesn't mean we really trust it as the value constantly decline due to inflation.

Probably, it is not always about trust, maybe a person does not trust fiat at all, what can he do? Does he have any options? Ofcourse not. Because fiat is the only way to live right now, we have bitcoins but we do not have places to spend them, of course we believe bitcoin more than fiat but we are compel to spend fiat because bitcoin is not accepted anywhere.
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January 15, 2017, 09:13:05 AM
 #1030

Yes, and we have to use fiat in any way. And it doesn't mean we really trust it as the value constantly decline due to inflation.

Probably, it is not always about trust, maybe a person does not trust fiat at all, what can he do? Does he have any options? Ofcourse not. Because fiat is the only way to live right now, we have bitcoins but we do not have places to spend them, of course we believe bitcoin more than fiat but we are compel to spend fiat because bitcoin is not accepted anywhere.

On the other hand what if the person does not accept bitcoin or find it trustworthy? Most people in our country are below the poverty line and are fighting for money - they want cash and physical cash let alone digital currency, they dont even use internet properly.

Again the elite class people here do use bitcoin for trading purpose. But there cannot be any compromise. I dont see any difference between the current economy or the bitcoin economy in such countries. Fiat will prevail even if bitcoin become popular here.

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January 15, 2017, 10:45:41 AM
 #1031

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
True bitcoin can't replace anything on this earth people also saying that bitcoin can replace dollars while bitcoin is depending on dollars many people using fiat currency to exchange into bitcoin this is the only way to use so they can have bitcoin and also it is easy way out to exchange bitcoin into fiat currency easy to do transaction without document needed.



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1Referee
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January 15, 2017, 11:05:25 AM
 #1032

True bitcoin can't replace anything on this earth people also saying that bitcoin can replace dollars while bitcoin is depending on dollars many people using fiat currency to exchange into bitcoin this is the only way to use so they can have bitcoin and also it is easy way out to exchange bitcoin into fiat currency easy to do transaction without document needed.

People only say that Bitcoin will replace banks and fiat because they then think the value of their coins will go up significantly, and thus the 0.1-0.2BTC that they own will make them "rich". Beside the fact that it's impossible, they don't realize what it will mean for them (in the negative meaning of the word) if something happens to threat fiat and banks. It's pure greed that makes them overlook any sort of risk that comes towards them in whatever situation. And if things don't play out as they were hoping for, instead of blaming themselves, they blame Bitcoin...

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January 15, 2017, 02:08:16 PM
 #1033

True bitcoin can't replace anything on this earth people also saying that bitcoin can replace dollars while bitcoin is depending on dollars many people using fiat currency to exchange into bitcoin this is the only way to use so they can have bitcoin and also it is easy way out to exchange bitcoin into fiat currency easy to do transaction without document needed.

People only say that Bitcoin will replace banks and fiat because they then think the value of their coins will go up significantly, and thus the 0.1-0.2BTC that they own will make them "rich". Beside the fact that it's impossible, they don't realize what it will mean for them (in the negative meaning of the word) if something happens to threat fiat and banks. It's pure greed that makes them overlook any sort of risk that comes towards them in whatever situation. And if things don't play out as they were hoping for, instead of blaming themselves, they blame Bitcoin...

That is deep and yet true. What else can they blame. They wont do it to themselves, they would try to put the blame on something else to avoid a bad record. This strong industries cannot be put down just like that. There are connections with the government that makes them strong.

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January 15, 2017, 02:36:53 PM
 #1034

Well for my opinion I still believe in Fiat I mean we have a proof that it works in our daily lives in every transaction that we made day by day,
And I think that cryptography currency can't replace it just because it is so popular this day's.
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January 15, 2017, 02:43:58 PM
 #1035

Well for my opinion I still believe in Fiat I mean we have a proof that it works in our daily lives in every transaction that we made day by day,
And I think that cryptography currency can't replace it just because it is so popular this day's.

Well I don't think we need proof of fiat's importance anymore as the global economy would pretty much crash if fiat lost it's value. It's very evident that the current system would still be the main currency we'll be using for the next decade or so as I think most of the economic projects laid out during our time would be fiat based. I don't think it's just about popularity but by necessity, I think we should all still believe in fiat

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January 15, 2017, 07:21:46 PM
 #1036

Well for my opinion I still believe in Fiat I mean we have a proof that it works in our daily lives in every transaction that we made day by day,
And I think that cryptography currency can't replace it just because it is so popular this day's.

Well I don't think we need proof of fiat's importance anymore as the global economy would pretty much crash if fiat lost it's value. It's very evident that the current system would still be the main currency we'll be using for the next decade or so as I think most of the economic projects laid out during our time would be fiat based. I don't think it's just about popularity but by necessity, I think we should all still believe in fiat

I fully agree with your opinion. Bitcoin is only an alternative currency, which has many advantages. But the government maintains Fiat. And so it will be a long time. At Fiat built the economy of each country
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January 16, 2017, 03:18:11 PM
 #1037

the main reason why we are still using fiat since we are on a government which is being decentralized so it means we really need fiat in order to live and most people do really believe on fiat no matter what even how bitcoin would progress in the future even we do have cashless society but still fiat would still exit on matter what.
It does not matter if we the users of bitcoin believe in fiat or not, out there in the real word bitcoin is still not a thing, most people don’t know what bitcoin is, the people use fiat in everyday life and so we do because we have to in order to live and buy our groceries from the supermarket or to eat at the restaurant or to get coffee.


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January 16, 2017, 03:32:36 PM
 #1038

Well for my opinion I still believe in Fiat I mean we have a proof that it works in our daily lives in every transaction that we made day by day,
And I think that cryptography currency can't replace it just because it is so popular this day's.
the important thing is we are still dependent on fiat, even if you're a bitcoin users even today you still rely on fiat and is valuable wherever fiat. so I strongly believe in fiat

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January 16, 2017, 04:47:31 PM
 #1039

Well for my opinion I still believe in Fiat I mean we have a proof that it works in our daily lives in every transaction that we made day by day,
And I think that cryptography currency can't replace it just because it is so popular this day's.
the important thing is we are still dependent on fiat, even if you're a bitcoin users even today you still rely on fiat and is valuable wherever fiat. so I strongly believe in fiat

I also believe in fiat currency. It is used in everyday life and it is difficult to live without it. Bitcoin it still can not replace. He did not so much trust in people, and it does not approve of the government
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January 16, 2017, 05:04:04 PM
 #1040

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.
Fiat is not going to last forever there were lots of instances were there was money backed by the government and where there was money the people themselves created, the idea of a currency not backed by a government is nothing new at all.
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