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Author Topic: Do you Still believe in Fiat?  (Read 74821 times)
diegz
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January 25, 2017, 10:22:23 AM
 #1121

Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other.

Fiat will always be there, as long as it is being distributed by the government, then it will be there, unless the government decided to remove it in circulation and change it with something else.

How can we make real money if fiat will lost?

That's not a problem anymore, when fiat would really disappear, that means the government has come up with something to replace it.

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January 25, 2017, 10:41:59 AM
 #1122

It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.
Fiat is the main money and fiat could not be replaced by any currency. you should still believe in fiat because you will rely and use the fiat to make transactions in your country.
even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
That's right. Fiat should be believed. Who knows how many years bitcoin will have place to be? What if in the case of huge price it's going to be banned by governments? And it's even impossible to all people move on just crypto currencies using. Many people still living in villages where there is no even a computer!

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January 25, 2017, 11:23:05 AM
 #1123

It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.
Fiat is the main money and fiat could not be replaced by any currency. you should still believe in fiat because you will rely and use the fiat to make transactions in your country.
even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
That's right. Fiat should be believed. Who knows how many years bitcoin will have place to be? What if in the case of huge price it's going to be banned by governments? And it's even impossible to all people move on just crypto currencies using. Many people still living in villages where there is no even a computer!


I agree. Compared to digital currencies, fiat is not limited by technology. Its an exchanged method used by people fir the longest time now. And i think crypto is also based on fiat so if in case it happens that crypto would overtake fiat as the top currency, i think it's nit going to be this genereration or the next generation to see it. Fiat is strong right now and i don't see anything changing even with bitcoin's boom
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January 25, 2017, 02:47:25 PM
 #1124

Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?

You git that right. I can't really see an economy running on digital currency entirely. Too many things needed to be conaidered if a switch to digital would take place and i think we're not ready for that kind of drastic change

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January 25, 2017, 02:58:36 PM
 #1125

Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?

You git that right. I can't really see an economy running on digital currency entirely. Too many things needed to be conaidered if a switch to digital would take place and i think we're not ready for that kind of drastic change

That's true, bitcoin or other digital development won't pave path for a successful economy and governance of a country without fiat. Digitalization gives advancement and growth but fiat still gets used at some corner of the world due to the convenience it has provided.

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January 25, 2017, 03:02:12 PM
 #1126

Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?

You git that right. I can't really see an economy running on digital currency entirely. Too many things needed to be conaidered if a switch to digital would take place and i think we're not ready for that kind of drastic change

Before any change that occurs around the world, people always say this that it is not possible. How will people adapt to the changes ? It will be a failure? and things like that.
The fact is that World is changing towards digital and therefore there is a need for digital currency. Hence Bitcoin is there to fulfill this change and need.
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January 25, 2017, 04:09:22 PM
 #1127

It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.
Fiat is the main money and fiat could not be replaced by any currency. you should still believe in fiat because you will rely and use the fiat to make transactions in your country.
even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
That's right. Fiat should be believed. Who knows how many years bitcoin will have place to be? What if in the case of huge price it's going to be banned by governments? And it's even impossible to all people move on just crypto currencies using. Many people still living in villages where there is no even a computer!


I agree. Compared to digital currencies, fiat is not limited by technology. Its an exchanged method used by people fir the longest time now. And i think crypto is also based on fiat so if in case it happens that crypto would overtake fiat as the top currency, i think it's nit going to be this genereration or the next generation to see it. Fiat is strong right now and i don't see anything changing even with bitcoin's boom

Which basically means that it's the currency that has the most chance to become obsolete anytime soon. I can't even think of a cryptocurrency that would surpass bitcoins simply because it's still in its development phase. Fiat, on the other hand, has been there for hundreds of years. They just update the design of the paper so they can collect all the old dirty and crumpled ones.

Fiat might not be limited to technology but it would come to the time when internet is accessible wherever you are so the use of technology wouldn't be a problem at all when we're going to use bitcoins as currency.

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January 25, 2017, 04:15:49 PM
 #1128

Before any change that occurs around the world, people always say this that it is not possible. How will people adapt to the changes ? It will be a failure? and things like that.
The fact is that World is changing towards digital and therefore there is a need for digital currency. Hence Bitcoin is there to fulfill this change and need.

Though the world is moving really fast towards digital systems and for sure every country will have to adopt the digital monetary system as well but we cannot be sure if that gap will be filled with bitcoin, because they can also create their own coins within their control so why would they adopt a coin that cannot be under their control?
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January 26, 2017, 09:58:24 PM
 #1129

It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.
Fiat is the main money and fiat could not be replaced by any currency. you should still believe in fiat because you will rely and use the fiat to make transactions in your country.
even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
You are right that fiat is the main currency and it will not be replaced but it is sure that the use of fiat will be replaced sooner. Just like nowadays more people use online banking and banking cards they will sooner start to use bitcoin when they know about the convenience of the usage of bitcoin.
i think it is not possible to replace fiat in near future. most of the people even those people who know about bitcoin are mostly depend on fiat for every thing, they are using bitcoin as option, because we cannot use bitcoin for buying every thing. i think it will still take a lot of time to use bitcoin for buying everything.
We don’t need bitcoin to replace fiat, we just need bitcoin to reach enough adoption to allow us to live out of it without converting it first to fiat, as long as bitcoin becomes a parallel system to fiat where you can buy almost anything with it, then I will be happy with bitcoin.



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January 27, 2017, 12:34:59 PM
 #1130

We don’t need bitcoin to replace fiat, we just need bitcoin to reach enough adoption to allow us to live out of it without converting it first to fiat, as long as bitcoin becomes a parallel system to fiat where you can buy almost anything with it, then I will be happy with bitcoin.
The problem is, it will not happen in the future, bitcoin will not be widely accepted without using fiat. If fiat will not exist, bitcoin will be useless because it is primarily relying on the fiat money. It is just a payment system that has no value if will not be supported by the users, hence, it is not as valuable as fiat and cannot replace fiat at all.

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January 27, 2017, 02:51:52 PM
 #1131

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.

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January 28, 2017, 11:49:46 AM
 #1132

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.
The main problem in bitcoin is that even in the case if it's going to be accepted everywhere on the same level as fiat - it will be not enough bitcoins to everyone. Bitcoin is limited by number of 21 million and the humanity is close to 8 milliards. And we know how wealth is spreading over the world - some people have more then enough and some nothing at all.

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January 28, 2017, 12:07:22 PM
 #1133

I hope there is big difference between fiat and bitcoin. Fiat is every green currency but it can be restricted to specific country, now at present we are living because of fiat currency, still many countries depend on paper money, Fiat cannot be replaced by bitcoin. Bitcoin is limited supply but it was distributed to many parts of the world, In order to buy we need to have fiat currency in banks or in hands.

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January 28, 2017, 12:13:16 PM
 #1134

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.

However, if it adopted or made centralize money by your government you have to go as it is right! I think bitcoin will be centralized money in near future and then automatically we should go for it.
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January 28, 2017, 01:53:49 PM
 #1135

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.

However, if it adopted or made centralize money by your government you have to go as it is right! I think bitcoin will be centralized money in near future and then automatically we should go for it.
Still fiat holds strongly in today's economy by means of everything that relies on it,fiat would still be widely use for those who are not still know yet the use of cryptocurrency.Even some places are still exchange their bitcoins to fiat in order to have money,and mostly establishments are accepting fiat instead of bitcoin.The widely use of fiat mostly simplifies that not everyone still have the knowledge to use the modern use of digital money.

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January 28, 2017, 05:25:15 PM
 #1136

Unfortunately, we have no choice but to obey the law the government set, whether we like it or not we have to follow and comply with it. Bitcoin is anonymous and the government does not condone anonymous transaction as it could be shady in their eyes. That is the reason why AMLA was created, that is to ensure that transactions are legitimate and illegal transactions shall not be tolerated.

No doubt about that... If we only have a choice, surely our faith in fiat will be gone... Even if we say that we want to use bitcoin everyday, as long as there is no place in our locality where we can use it as it is, it won't work... Probably the more shady, suspicious transactions, and flaws unsolved, the farther we are in becoming mainstream and that only benefits the fiat/government each time we earn bitcoin and convert it to local currency...  Smiley

yes you are right, the government will never support cryptocurrency. It is contrary to the principles of openness. We have to believe in fiat currency.

several country, goverment is supported and regulated to bitcoin
because bitcoin can income capital money goverment
example japan is ready regulate bitcoin, and every transaction in exchanger can charge to TAX

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transabox
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January 28, 2017, 07:40:57 PM
 #1137

Unfortunately, we have no choice but to obey the law the government set, whether we like it or not we have to follow and comply with it. Bitcoin is anonymous and the government does not condone anonymous transaction as it could be shady in their eyes. That is the reason why AMLA was created, that is to ensure that transactions are legitimate and illegal transactions shall not be tolerated.

No doubt about that... If we only have a choice, surely our faith in fiat will be gone... Even if we say that we want to use bitcoin everyday, as long as there is no place in our locality where we can use it as it is, it won't work... Probably the more shady, suspicious transactions, and flaws unsolved, the farther we are in becoming mainstream and that only benefits the fiat/government each time we earn bitcoin and convert it to local currency...  Smiley

yes you are right, the government will never support cryptocurrency. It is contrary to the principles of openness. We have to believe in fiat currency.

several country, goverment is supported and regulated to bitcoin
because bitcoin can income capital money goverment
example japan is ready regulate bitcoin, and every transaction in exchanger can charge to TAX

In fact, this is a very bad trend. The Chinese Government has also begun to take measures to reduce the use of Bitcoin. They want the people are more used fiat currency and did not use Bitcoin
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January 28, 2017, 10:27:47 PM
 #1138

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.

However, if it adopted or made centralize money by your government you have to go as it is right! I think bitcoin will be centralized money in near future and then automatically we should go for it.
Still fiat holds strongly in today's economy by means of everything that relies on it,fiat would still be widely use for those who are not still know yet the use of cryptocurrency.Even some places are still exchange their bitcoins to fiat in order to have money,and mostly establishments are accepting fiat instead of bitcoin.The widely use of fiat mostly simplifies that not everyone still have the knowledge to use the modern use of digital money.

Yes and we cannot expect people from poor countries who are uneducated would have even heard about bitcoins or will start using bitcoins in future they will continue with fiat as they get paid in fiat and even they are not eligible for credit or debit cards and in that case fiat is the only option left for them.


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January 28, 2017, 10:46:31 PM
 #1139

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.

However, if it adopted or made centralize money by your government you have to go as it is right! I think bitcoin will be centralized money in near future and then automatically we should go for it.
Still fiat holds strongly in today's economy by means of everything that relies on it,fiat would still be widely use for those who are not still know yet the use of cryptocurrency.Even some places are still exchange their bitcoins to fiat in order to have money,and mostly establishments are accepting fiat instead of bitcoin.The widely use of fiat mostly simplifies that not everyone still have the knowledge to use the modern use of digital money.

Yes and we cannot expect people from poor countries who are uneducated would have even heard about bitcoins or will start using bitcoins in future they will continue with fiat as they get paid in fiat and even they are not eligible for credit or debit cards and in that case fiat is the only option left for them.

People coming from poor countries will rather prefer to avoid using Bitcoin as the fees are becoming too much of an obstacle for them. Including like $0.20-$0.30 as minimum fee is a costly amount for their standards. Especially when you consider that the amounts these people work with are only worth a few bucks in most cases. Pools will most likely ignore these transactions for quite some time where it will result in their precious money being stuck waiting for confirmations. It will only work against them instead of for them.
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January 28, 2017, 11:05:27 PM
 #1140

Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.

However, if it adopted or made centralize money by your government you have to go as it is right! I think bitcoin will be centralized money in near future and then automatically we should go for it.
Still fiat holds strongly in today's economy by means of everything that relies on it,fiat would still be widely use for those who are not still know yet the use of cryptocurrency.Even some places are still exchange their bitcoins to fiat in order to have money,and mostly establishments are accepting fiat instead of bitcoin.The widely use of fiat mostly simplifies that not everyone still have the knowledge to use the modern use of digital money.

Yes and we cannot expect people from poor countries who are uneducated would have even heard about bitcoins or will start using bitcoins in future they will continue with fiat as they get paid in fiat and even they are not eligible for credit or debit cards and in that case fiat is the only option left for them.
I think there are some few there are knows about bitcoin since bitcoin is well known and think even in youtube you can see bitcoin.. like here in my country i have class mate and i said do you know bitcoin and answer that they know but he is beginner and start learn how  bitcoin works.. that i think we are in nearly future that more people will know in every each country..

"If money was being invented now, it wouldn't be designed to look like cash or credit cards. It would look more like Bitcoin." Happy New year...
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