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Author Topic: Do you Still believe in Fiat?  (Read 74821 times)
btcdiggingmaster
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February 21, 2017, 06:28:00 AM
 #1201

Right we are in completely different situation after bitcoin enters into my life. But still i believe in fiat currency it is the major currency which will ruin their corresponding countries. Fiat currency is the main currency which is used to buy other currency at specified prices given to other currencies. So all other currencies depend on fiat currency only.


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February 21, 2017, 06:39:57 AM
 #1202

Firstly, fiat is the one that sustain our daily need for example buying things that we need our necessities, tho you can purchase some items using bitcoin but then you cannot deny the fact that before using money you collected you have to convert it into fiat and fully consume these.
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February 21, 2017, 06:43:57 AM
 #1203

Firstly, fiat is the one that sustain our daily need for example buying things that we need our necessities, tho you can purchase some items using bitcoin but then you cannot deny the fact that before using money you collected you have to convert it into fiat and fully consume these.


You have a point there. For now, lets believe in fiat as we still don't have a choice. But when bitcoin is already  been used by majority and foods and all our necessity can be paid with bitcoin, then that's the time that we should shift fully to bitcoin. We can't survive yet with using bitcoin alone. We still need fiat, not only this year but on years to come or until we can't buy foods with bitcoin in our locality.  Smiley

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February 21, 2017, 12:17:39 PM
 #1204

Right we are in completely different situation after bitcoin enters into my life. But still i believe in fiat currency it is the major currency which will ruin their corresponding countries. Fiat currency is the main currency which is used to buy other currency at specified prices given to other currencies. So all other currencies depend on fiat currency only.

I don't even have a time to doubt fiat because there's no way that we are going to have time for not believing it.

We can't buy everything if we are not going to believe in fiat. And everything on this world are still depending on fiat.

It's the worlds preferred medium of currency.

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February 21, 2017, 12:23:01 PM
 #1205

Right we are in completely different situation after bitcoin enters into my life. But still i believe in fiat currency it is the major currency which will ruin their corresponding countries. Fiat currency is the main currency which is used to buy other currency at specified prices given to other currencies. So all other currencies depend on fiat currency only.

I don't even have a time to doubt fiat because there's no way that we are going to have time for not believing it.

We can't buy everything if we are not going to believe in fiat. And everything on this world are still depending on fiat.

It's the worlds preferred medium of currency.
Even if fiat has its own set of flaws, there's no denying the fact that it is going to be around for still a long time. The governments would not want it any other way because with fiat, they are in command. The cryptocurrencies might make a good niche, much like credit cards, but that would not be enough to replace fiat altogether.


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February 21, 2017, 01:10:26 PM
 #1206

Right we are in completely different situation after bitcoin enters into my life. But still i believe in fiat currency it is the major currency which will ruin their corresponding countries. Fiat currency is the main currency which is used to buy other currency at specified prices given to other currencies. So all other currencies depend on fiat currency only.

I don't even have a time to doubt fiat because there's no way that we are going to have time for not believing it.

We can't buy everything if we are not going to believe in fiat. And everything on this world are still depending on fiat.

It's the worlds preferred medium of currency.
Even if fiat has its own set of flaws, there's no denying the fact that it is going to be around for still a long time. The governments would not want it any other way because with fiat, they are in command. The cryptocurrencies might make a good niche, much like credit cards, but that would not be enough to replace fiat altogether.

I agree that would not be enough to replace fiat and government knows fiat will still be a strong foundation of currency type because of its stable price movement. Most importantly fiat currency is really needed in order for us to appreciate the use of it for digital currency which is bitcoin. Fiat is used for cashing out to cash form of digit currency to touchable money in hand.


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February 21, 2017, 01:23:03 PM
 #1207

...
I agree with you, Fiat will still dominate this world because of the fact that they are controlled by the government. Also the government can shutdown easily Bitcoin, one good example is eliminating all Bitcoin Wallets rendering your Bitcoin useless which is one good possibility. Bitcoin will never take over the place of Fiat as simply Fiat is a more accessible currency to all people.

But with bitcoin popularity increase day by day , it means that bitcoin getting notice more and more and it's impact on fiat existency
I think it's not impossible for bitcoin to replace fiat on the future, only matter of time

Maybe you are right. Japan for instance is ready to accept Bitcoin as a legal payment method. I hope that other countries will do the same. There is a big chance that Bitcoin will replace Fiat
Japanese currency is not as valuable, as opposed to the dollar, but I very much doubt that the Japanese will make it change its national money. After all, their economy is quite significant

The relative values are not very important

What is really important here (in respect to the question whether Bitcoin can substitute some fiat currency) is the rate with which a certain currency depreciates (or appreciates, for that matter), i.e. inflation rate. The Japanese currency, the Yen, is known for its overall deflationary behavior. In such circumstances, it is unlikely that Bitcoin (or any other currency) is ever going to substitute it. On the other hand, we have already witnessed events when hyperinflated currencies got totally abandoned at first by the population and then by the government itself in favor of a foreign currency (e.g. the Zimbabwean dollar was ditched completely and substituted with the American dollar)



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February 21, 2017, 09:53:14 PM
 #1208

...
I agree with you, Fiat will still dominate this world because of the fact that they are controlled by the government. Also the government can shutdown easily Bitcoin, one good example is eliminating all Bitcoin Wallets rendering your Bitcoin useless which is one good possibility. Bitcoin will never take over the place of Fiat as simply Fiat is a more accessible currency to all people.

But with bitcoin popularity increase day by day , it means that bitcoin getting notice more and more and it's impact on fiat existency
I think it's not impossible for bitcoin to replace fiat on the future, only matter of time
I'm not sure. Fiat will exist both in physical and digital format, and bitcoin will stand by and spinning only in its plane. Today, bitcoin and Fiat are not competitors, because each in its own sphere.
but i think it is the need of the time and it must be present in both form i think every government will thinking about starting their on digital currency and specially such countries who are not ready to accept bitcoin as legal currency.

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February 22, 2017, 02:33:18 AM
 #1209

Right we are in completely different situation after bitcoin enters into my life. But still i believe in fiat currency it is the major currency which will ruin their corresponding countries. Fiat currency is the main currency which is used to buy other currency at specified prices given to other currencies. So all other currencies depend on fiat currency only.

I don't even have a time to doubt fiat because there's no way that we are going to have time for not believing it.

We can't buy everything if we are not going to believe in fiat. And everything on this world are still depending on fiat.

It's the worlds preferred medium of currency.
Even if fiat has its own set of flaws, there's no denying the fact that it is going to be around for still a long time. The governments would not want it any other way because with fiat, they are in command. The cryptocurrencies might make a good niche, much like credit cards, but that would not be enough to replace fiat altogether.

I agree that would not be enough to replace fiat and government knows fiat will still be a strong foundation of currency type because of its stable price movement. Most importantly fiat currency is really needed in order for us to appreciate the use of it for digital currency which is bitcoin. Fiat is used for cashing out to cash form of digit currency to touchable money in hand.

That's the stand of fiat, its backed up by the government / world government. And still many people are not willing to change usage of fiat into crypto.

Though they wanted to use digital currency but that will still be dependent on fiat because that will still rely on governments back.

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February 22, 2017, 01:14:08 PM
 #1210

I dont see the currencie to be the problem but for sure the politicians has the mains resposability because people are starting to get bored with the place they live, too many corruption, the money that should be invested to all people get a better life is being stoled, soo this is something no one will agree never. Bitcoin transparency, since we can know all transactions one single adress has made would be the best model to follow by the countries, soo we all will know how much they are investing into education as well others things requires for the country and their people.
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February 22, 2017, 02:18:18 PM
 #1211

Im still believing in fiat since i always converted my bitcoin into it theres no debit bitcoin card yet available here in my country but once it has maybe i will use it, fiat is one i trust my bitcoin where i can use it to use in my daily expenses. Not only expenses but other needs like paying bills and other payable taxes.

Same here, i still believe in fiat because of the usage of it and merchants that accept it anywhere  I wanted to buy something.  Aside from that it is backed by the government, regulated by the government and is used as means of payment for all stuff, service, goods etc.
Believing in fiat will never change to me, i always use this to easily exchange bitcoin into real money and can be use easily to buy my favorite foods and also to help to my fenancial problem like tuition fee. My goverment already accepted bitcoin but will see and lookforward for the next update.



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February 22, 2017, 02:57:01 PM
 #1212

Well for me it doesn't matter if it is Fiat or crypto currency,
If they decided to use it in an illegal business they could as long as it have a value and other would accept it as payment.


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█ ▌CRUX COIN
[THE HEART OF CRYPTOCURRENCIES]

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DISCORD
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WITH 3 IMPLEMENTED PROJECTS
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February 22, 2017, 03:20:30 PM
 #1213

I also very much encouraged by the fact that more and more stores have begun to accept Bitcoin. But to live a very hard without fiat currency. It should be for everyone. In the next few years the situation will not change significantly.


well you are right it is very difficult if you live without fiat because by the end of the day our bitcoin we are exchanging it to our own fiat because there are still no stores that accepts bitcoin in our country weell I think next few years bitcoin is getting famous and lot of users and also there are lot of shops that accepts bitcoin and fiat stays fiat
True its really hard when we don't use fiat on our daily living i can't even live without using fiat i don't think fiat will be denominant after 10-20 years fiat will be one will use to exchange our bitcoin i don't think that some of stores will begun accpeting bitcoin less of companies don't want bitcoin to be connected to them.

big companies are afraid to communicate with Bitcoin due to the fact that the situation is not clear to him. I mean legislation. Therefore, Fiat will still be used


their main reason is because their employees are not asking for it! I mean if you go ask your boss to pay you with bitcoin and then a couple of more of you colleagues do the same he is going to do it eventually and the only other issue is going to be taxes that I doubt it can be any trouble more than filling a new form!
Nope they don't trust bitcoin it just because of unstable price but if bitcoin has an stable price they will trying to impose bitcoin to there employee or company like paypal will partner with bitcoin paypal is one of the biggest company that people use to pay online. Nah if amazon continue accepting bitcoin then probably lots of company will see an good opportunity using it.
What makes you think that those companies will actually seeing the opportunity from bitcoin if amazon implement it as a payment method? those companies really never make a direct deal with the amazon company and it's not going affecting those unless they're affiliating,it's just another BS
Our bitcoin wallet that based on philippines can shop to amazon and their are upgrading their business now so it will be more smoth than other website, im sure that bitcoin will be implemented to use us payment method. Im waiting for the next update that bitcoin can be use to shop from super market.

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February 22, 2017, 03:35:48 PM
 #1214

Our bitcoin wallet that based on philippines can shop to amazon and their are upgrading their business now so it will be more smoth than other website, im sure that bitcoin will be implemented to use us payment method. Im waiting for the next update that bitcoin can be use to shop from super market.

There's nothing special about that at all since any bitcoin wallet can be used to buy from Amazon using purse.io. I think one of the ways bitcoins can be used to shop in a super market is when there's a bitcoin card or something similar. Although I don't see it coming in the near future because every super market would have to adopt to that new technology and update their machine so they can accept bitcoin cards.
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February 22, 2017, 05:48:22 PM
 #1215

Our bitcoin wallet that based on philippines can shop to amazon and their are upgrading their business now so it will be more smoth than other website, im sure that bitcoin will be implemented to use us payment method. Im waiting for the next update that bitcoin can be use to shop from super market.

There's nothing special about that at all since any bitcoin wallet can be used to buy from Amazon using purse.io. I think one of the ways bitcoins can be used to shop in a super market is when there's a bitcoin card or something similar. Although I don't see it coming in the near future because every super market would have to adopt to that new technology and update their machine so they can accept bitcoin cards.
I Think not only amazon that we can use from philippines.. wallet. they are already added a vcc which is working to any website that accepting vcc or prepay reloadable vcc.. that you can buy in amazon ebay or any shop online that accepting credit card or vcc..

.WHERE DOES BITCOIN PRICE GO
bitcoin
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Alfa123
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February 22, 2017, 07:45:33 PM
 #1216

Bitcoin now for me - it's just an object of investment. I can not in their daily lives do without dollars. Therefore, at this stage, I still believe in Fiat
gandame
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February 22, 2017, 09:21:18 PM
 #1217

Well for me it doesn't matter if it is Fiat or crypto currency,
If they decided to use it in an illegal business they could as long as it have a value and other would accept it as payment.

Okay I respect every opinion here, and all I can say I always believe in fiat because its been traditional and used worldwide. It can be exchanged through bitcoin which is really important to bitcoin being fiat currency from digital to cash form of money. We can appreciate the importance of bitcoin because of fiat currency thats why people are always converting their btc to cash money, and made btc as source of financial investments.


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DRaGoN RaNTaRo
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February 22, 2017, 09:49:46 PM
 #1218

I dont see the currencie to be the problem but for sure the politicians has the mains resposability because people are starting to get bored with the place they live, too many corruption, the money that should be invested to all people get a better life is being stoled, soo this is something no one will agree never. Bitcoin transparency, since we can know all transactions one single adress has made would be the best model to follow by the countries, soo we all will know how much they are investing into education as well others things requires for the country and their people.
Corruption is a major concern for almost all countries and people do not mind  spending money if you goals can be achieved .You need fiat as well as digital assets to store your coins without any hurdle and yes i do believe in fiat for sometime now.
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February 22, 2017, 11:27:42 PM
 #1219

It would be really dumb to still believe in it, to be honest for fiat there is no way back, it is already messed up and no one can fix it, the inflation is going to just become bigger and bigger, thus bitcoin will have a decent chance to replace it.
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February 23, 2017, 03:11:56 AM
 #1220

It would be really dumb to still believe in it, to be honest for fiat there is no way back, it is already messed up and no one can fix it, the inflation is going to just become bigger and bigger, thus bitcoin will have a decent chance to replace it.
Yes, it is because the fiat system is no longer as it should. supposed to print fiat need to pay attention to the amount of gold, so that fiat was not printed by the government's decision.


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