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Author Topic: Do you Still believe in Fiat?  (Read 74818 times)
equator
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December 04, 2016, 09:41:36 AM
 #661

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

   Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
   With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

One more point is what and all you can do with fiat currency that you cannot do in bitcoin in current situation. Still their are so many country where Bitcoin is not recognized or cannot do anything with bitcoin in real life. Like in my country still cannot do anything with bitcoin as it is not accepted anywhere in out country the only option is to convert it to fiat currency and enjoy it. So for us Bitcoin is a investment like gold and silver for future benefit
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December 04, 2016, 09:43:28 AM
 #662

Fiat for me is a necessary evil, it's the biggest worldwide conspiracy where 95% of earth population beliefs in and are dedicated to.
But as it is now I will still have to use it, until I can trade some paper btc wallets for a bread.
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December 04, 2016, 10:01:30 AM
 #663

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

   Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
   With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

One more point is what and all you can do with fiat currency that you cannot do in bitcoin in current situation. Still their are so many country where Bitcoin is not recognized or cannot do anything with bitcoin in real life. Like in my country still cannot do anything with bitcoin as it is not accepted anywhere in out country the only option is to convert it to fiat currency and enjoy it. So for us Bitcoin is a investment like gold and silver for future benefit
You really forgot about the simplicity of using debit card then. it's actually really helpful in some countries like yours, you just don't need to wait some store until they accept bitcoin but you will use that debit card directly to buy on them and it's accepted everywhere as long the merchant accepting any kind of cards,it's that easy.

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December 04, 2016, 11:51:41 AM
 #664

the answer is obvious , if u never got into the

property cycle or dont have the uber high paying

job or welfare Queen status with Gov supplied housing

or lastly deal drugs,

u would hate Fiat to the  core!

the endless print cycle is a joke  Cheesy


Well, I never got into those things which I could feel or hate fiat to the core.
What I hate is banking system that take your money and pressing you with debt with high interest rates, so stay away from owe money.
Fiat is neutral thing, it works as you want and still an official medium of exchange that could last for a long time.

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December 04, 2016, 12:34:16 PM
 #665

Fiat exists since the first civilization as long as there are humans around that give you service and talk to and interact with there has to be real money, what is bitcoin but an alternative way to pay without having to give you personal data or compromise your bank account , think about it bitcoin is just a digital currency that is based on the internet if there is no internet there is no bitcoin , if there is no electricity bitcoin will die but fiat won't so fiat has been and will forever be there.

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December 04, 2016, 12:39:18 PM
 #666

They way central banks manipulate inflation of currency, it is not far fetch to think a lot of people will lose confidence on fiat currencies considering you lose a lot of value on your hard earned money everytime inflations kick-in, so I for one, would definitely look on alternative ways to store my wealth without losing any value and bitcoin is a very promising solution besides precious metals.
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December 04, 2016, 12:43:34 PM
 #667

the answer is obvious , if u never got into the

property cycle or dont have the uber high paying

job or welfare Queen status with Gov supplied housing

or lastly deal drugs,

u would hate Fiat to the  core!

the endless print cycle is a joke  Cheesy


Well, I never got into those things which I could feel or hate fiat to the core.
What I hate is banking system that take your money and pressing you with debt with high interest rates, so stay away from owe money.
Fiat is neutral thing, it works as you want and still an official medium of exchange that could last for a long time.
Where did you get the idea that banks give the highest interest, I think it's pretty normal to a business to charge you interest when you borrow money because that is there business, they want to be profitable but I can say they are giving the lowest interest compared to other lending institution.

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December 04, 2016, 12:44:00 PM
 #668

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.
To some extent, the government manages to maintain some stability, but this stability is temporary. With the passage of time the currency is being inflated with greater intensity, by intervention of the government, and contrary to the real need of individuas who use it. There comes a point where money is not able to meet their needs.
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December 04, 2016, 03:11:35 PM
 #669

Fiat exists since the first civilization as long as there are humans around that give you service and talk to and interact with there has to be real money, what is bitcoin but an alternative way to pay without having to give you personal data or compromise your bank account , think about it bitcoin is just a digital currency that is based on the internet if there is no internet there is no bitcoin , if there is no electricity bitcoin will die but fiat won't so fiat has been and will forever be there.

You seem to have ditched a lot of history and economics classes

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.
To some extent, the government manages to maintain some stability, but this stability is temporary. With the passage of time the currency is being inflated with greater intensity, by intervention of the government, and contrary to the real need of individuas who use it. There comes a point where money is not able to meet their needs.

When that point is ultimately reached, the government just changes one fiat currency with another, and the cycle continues as before. If inflation is gradual, they don't even need to do that. Replacing the bills with less number of zeroes will suffice in most such cases. For example, if Trump is going to heavily devalue the US dollar during his term, he may decide to replace old and devalued Benjamin Franklin 100 dollar bills with new and precious Donald Trump 1 dollar bills...

In fact, many governments have used this trick in the past
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December 04, 2016, 05:31:06 PM
 #670

Fiat exists since the first civilization as long as there are humans around that give you service and talk to and interact with there has to be real money, what is bitcoin but an alternative way to pay without having to give you personal data or compromise your bank account , think about it bitcoin is just a digital currency that is based on the internet if there is no internet there is no bitcoin , if there is no electricity bitcoin will die but fiat won't so fiat has been and will forever be there.

You seem to have ditched a lot of history and economics classes

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.
To some extent, the government manages to maintain some stability, but this stability is temporary. With the passage of time the currency is being inflated with greater intensity, by intervention of the government, and contrary to the real need of individuas who use it. There comes a point where money is not able to meet their needs.

When that point is ultimately reached, the government just changes one fiat currency with another, and the cycle continues as before. If inflation is gradual, they don't even need to do that. Replacing the bills with less number of zeroes will suffice in most such cases. For example, if Trump is going to heavily devalue the US dollar during his term, he may decide to replace old and devalued Benjamin Franklin 100 dollar bills with new and precious Donald Trump 1 dollar bills...

In fact, many governments have used this trick in the past

and the people will still believe in the value advertised by the government.  Reason is that, this government have all the authority.  They decide which one should be use, of course with all the connections and controls, they can easily implement this kind of stuff and people will just have to follow.  Well they are the one who give these people power to decide for the country anyway.  I bet every citizen will believe if someone pass this kind of bill and is approved .  After all citizen have to follow the set of rules implemented by its government.

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December 04, 2016, 09:49:15 PM
 #671

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

   Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
   With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

One more point is what and all you can do with fiat currency that you cannot do in bitcoin in current situation. Still their are so many country where Bitcoin is not recognized or cannot do anything with bitcoin in real life. Like in my country still cannot do anything with bitcoin as it is not accepted anywhere in out country the only option is to convert it to fiat currency and enjoy it. So for us Bitcoin is a investment like gold and silver for future benefit
but i think now the situation is changing day by day, now you can use bitcoin in local shops in most areas, as the local shopkeepers accept bitcoin for shopping, i still in your area you have no such facilities you should use it for online shopping, on other side it is still good that you can covert your bitcoin into fiat, you can use the profit of bitcoin in form of your fiat currency.
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December 05, 2016, 01:55:45 AM
 #672

I am not believe in fiat/paper money anymore becouse I know if we use fiat our economy can crash only in few day like what happen in asean at 1997.


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December 05, 2016, 03:02:01 AM
 #673

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

   Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
   With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

One more point is what and all you can do with fiat currency that you cannot do in bitcoin in current situation. Still their are so many country where Bitcoin is not recognized or cannot do anything with bitcoin in real life. Like in my country still cannot do anything with bitcoin as it is not accepted anywhere in out country the only option is to convert it to fiat currency and enjoy it. So for us Bitcoin is a investment like gold and silver for future benefit
but i think now the situation is changing day by day, now you can use bitcoin in local shops in most areas, as the local shopkeepers accept bitcoin for shopping, i still in your area you have no such facilities you should use it for online shopping, on other side it is still good that you can covert your bitcoin into fiat, you can use the profit of bitcoin in form of your fiat currency.
Currently that's what is happening, we earn bitcoins and convert it in fiat. The reason is we do not have the same experience of convenience in spending our bitcoin online since we are not living in the same countries.There are countries that accept bitcoin but they are mostly the rich country. As long as we can enjoy and there's no problem with converting into fiat, this two can work and progress together.

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December 05, 2016, 03:05:27 AM
 #674

I am not believe in fiat/paper money anymore becouse I know if we use fiat our economy can crash only in few day like what happen in asean at 1997.

So what are you using to buy your families grocery, for paying your utility bills and for paying everything you want to purchase. Don't tell me that you are using bitcoin for all of that because we know that there are still a lot of stores that are not yet accepting bitcoin. Because we don't have choice but to keep on believing and using fiat.

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December 05, 2016, 03:43:56 AM
 #675

 Fiat money is backed by the fact that the government accepts its legal payment. Because the government is willing to accept it in exchange for goods and services or tax payments, their currency gains intrinsic value. The value of fiat currency is similarly arbitrary, but as long as  the government can maintain its monetary system, that value will hold because that is the value the government is willing to honor. And yes i still believe in fiat money and also in bitcoin.
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December 05, 2016, 03:56:04 AM
 #676

If I don't believe in fiat, I have no better option. It is still the globally accepted form of currency, so  unless something comes out to replace, then I would just go with the flow. It might take a while for something like that to happen, or something earth-shaking to turn our backs from fiat, as we know it.


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December 05, 2016, 04:20:02 AM
 #677

If I don't believe in fiat, I have no better option. It is still the globally accepted form of currency, so  unless something comes out to replace, then I would just go with the flow. It might take a while for something like that to happen, or something earth-shaking to turn our backs from fiat, as we know it.
We have no option but to believe in fiat because we are using it, unless if we can try to prove that we are using bitcoin on our daily activities then maybe someone will believe. But for now, it's impossible to do it so we have to rely and believe in fiat.


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December 05, 2016, 11:01:01 AM
 #678

I am not believe in fiat/paper money anymore becouse I know if we use fiat our economy can crash only in few day like what happen in asean at 1997.

So what are you using to buy your families grocery, for paying your utility bills and for paying everything you want to purchase. Don't tell me that you are using bitcoin for all of that because we know that there are still a lot of stores that are not yet accepting bitcoin. Because we don't have choice but to keep on believing and using fiat.

You are uninformed at best and misinformed at worst

If you order one of the numerous Bitcoin payment cards, you can use it pretty much in the same way you use fiat money. That is, to buy your groceries, pay your utility bills or purchase anything you may ever want to purchase. So I have no other option but to tell you exactly that, namely, that you do have choice whether to keep on using fiat or switch bitcoins. Though it may just not make much sense to spend your precious bitcoins on everyday expenses, but this is another story
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December 05, 2016, 11:21:55 AM
 #679

I am not believe in fiat/paper money anymore becouse I know if we use fiat our economy can crash only in few day like what happen in asean at 1997.

So what are you using to buy your families grocery, for paying your utility bills and for paying everything you want to purchase. Don't tell me that you are using bitcoin for all of that because we know that there are still a lot of stores that are not yet accepting bitcoin. Because we don't have choice but to keep on believing and using fiat.

You are uninformed at best and misinformed at worst

If you order one of the numerous Bitcoin payment cards, you can use it pretty much in the same way you use fiat money. That is, to buy your groceries, pay your utility bills or purchase anything you may ever want to purchase. So I have no other option but to tell you exactly that, namely, that you do have choice whether to keep on using fiat or switch bitcoins. Though it may just not make much sense to spend your precious bitcoins on everyday expenses, but this is another story

Here I would still need to convert to fiat. Withdraw btc with debit card, go to bank deposit cash money and then I can pay rent, utilities and other certain things that are only payable trough bank transfer here these days.
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December 05, 2016, 03:14:10 PM
 #680

I am not believe in fiat/paper money anymore becouse I know if we use fiat our economy can crash only in few day like what happen in asean at 1997.

So what are you using to buy your families grocery, for paying your utility bills and for paying everything you want to purchase. Don't tell me that you are using bitcoin for all of that because we know that there are still a lot of stores that are not yet accepting bitcoin. Because we don't have choice but to keep on believing and using fiat.

You are uninformed at best and misinformed at worst

If you order one of the numerous Bitcoin payment cards, you can use it pretty much in the same way you use fiat money. That is, to buy your groceries, pay your utility bills or purchase anything you may ever want to purchase. So I have no other option but to tell you exactly that, namely, that you do have choice whether to keep on using fiat or switch bitcoins. Though it may just not make much sense to spend your precious bitcoins on everyday expenses, but this is another story

That stands true in first world countries but in most places in third world countries, it's quite hard to use your credit card/bitcoin card/ATM card to buy stuffs. Fiat is still the one that you should use (there's no other option). I'm talking about places that do not have malls. It's usually just places in the city and in malls that accepts payment directly from your card. I've also seen people (from movies) using their smartphone + some additional device to swipe your card. I've never seen anything like that in my place, honestly.

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