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Author Topic: Do you Still believe in Fiat?  (Read 74821 times)
deisik
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December 05, 2016, 04:28:11 PM
Last edit: December 05, 2016, 08:51:50 PM by deisik
 #681

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.

But what difference does it make?

In such places any payment card will be utterly useless, not just a Bitcoin one, so the point is moot on the whole. On the other hand, though, even in such godforsaken corners of the world you can still use physical bitcoins (here I refer, for example, to OpenDime devices), at least, as long as you can check the wallet balance somehow (or you just happen to trust the guy who pays you with them and vice versa)



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December 05, 2016, 07:26:38 PM
 #682

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.
You reflect the common scenario of most of the people here. I love bitcoins but still I believe in fiats and use them for my life just due to the reason of not having enough option to spend bitcoins in my country. I like switch over to bitcoins and to leave off fiats completely. Maybe it come possible in near future.
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December 05, 2016, 08:44:19 PM
 #683

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

The problem here is on the merchant that will accept bitcoin.  Not all places have a bitcoin ready store nor  can accept a bitcoin payment cards.  This is the argument of what you quoted. And in fact have a valid point,.  Maybe in your place, malls and groceries are ready to accept such cards you are saying but i doubt all are accepting that kind of payment.  In third world country, there are seldom. almost non-visible, stores that accept Bitcoin or Bitcoin payment cards so people who have bitcoins and want to spend it to some groceries convert their BTC first to fiat money then spend it.
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December 05, 2016, 09:28:15 PM
 #684

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

The problem here is on the merchant that will accept bitcoin.  Not all places have a bitcoin ready store nor  can accept a bitcoin payment cards.  This is the argument of what you quoted. And in fact have a valid point,.  Maybe in your place, malls and groceries are ready to accept such cards you are saying but i doubt all are accepting that kind of payment.  In third world country, there are seldom. almost non-visible, stores that accept Bitcoin or Bitcoin payment cards so people who have bitcoins and want to spend it to some groceries convert their BTC first to fiat money then spend it.

Yes, that is exactly what happens. We need fiat every day, impossible to live only using Bitcoins.

At this moment, Bitcoin is most used as an investment way. People use their local currecy to buy BTCs, so they hold it for some time, make profit and exchange BTCs into fiat again. Things only will change when stores start accepting Bitcoins and (or) people start receiving their salaries in Bitcoins.

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December 05, 2016, 09:58:26 PM
 #685

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.
You reflect the common scenario of most of the people here. I love bitcoins but still I believe in fiats and use them for my life just due to the reason of not having enough option to spend bitcoins in my country. I like switch over to bitcoins and to leave off fiats completely. Maybe it come possible in near future.
every person is claiming that they have believe on fiat as fiat is workable from centuries and are supported by governments but I think bitcoin is going to be more stronger in terms of believe because every one is attracted to bitcoin and everyone is searching for ways to use only bitcoin in their lives.
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December 05, 2016, 11:33:54 PM
 #686

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

The problem here is on the merchant that will accept bitcoin.  Not all places have a bitcoin ready store nor  can accept a bitcoin payment cards.  This is the argument of what you quoted. And in fact have a valid point,.  Maybe in your place, malls and groceries are ready to accept such cards you are saying but i doubt all are accepting that kind of payment.  In third world country, there are seldom. almost non-visible, stores that accept Bitcoin or Bitcoin payment cards so people who have bitcoins and want to spend it to some groceries convert their BTC first to fiat money then spend it.

Yes, that is exactly what happens. We need fiat every day, impossible to live only using Bitcoins.

At this moment, Bitcoin is most used as an investment way. People use their local currecy to buy BTCs, so they hold it for some time, make profit and exchange BTCs into fiat again. Things only will change when stores start accepting Bitcoins and (or) people start receiving their salaries in Bitcoins.
as bitcoin is created as currency to be use in all over the world having same value, but still the facilities of bitcoin are still not available in all over the world as in most of the areas bitcoin is not accepted as currency,  but now people are getting awareness about bitcoin and the users of bitcoin are continuously increasing, hope a time will come when all the people of the world will be using bitcoin as currency.
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December 06, 2016, 01:40:28 PM
 #687

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.
You reflect the common scenario of most of the people here. I love bitcoins but still I believe in fiats and use them for my life just due to the reason of not having enough option to spend bitcoins in my country. I like switch over to bitcoins and to leave off fiats completely. Maybe it come possible in near future.
Most people are trusting bitcoin and they loving bitcoin because they getting bitcoin into it and then converting into fiat money. Why you people are contra? If you don't have enough option to spend your bitcoin then hold it save it for your future maybe bitcoin will become more famous in your country and it will be useful that your expectation.

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December 06, 2016, 03:39:51 PM
 #688

At my present situation and time I have no reason not to not believe in fiat,alwaus run in my mind how to get money in my pocket for our daily expenses and everywhere I go in what ever I do I always need fiat to accomlish what I need to do for my family,sure bitcoin did help me but I am not in a situation where I cannot exist without fiat.


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December 06, 2016, 03:50:20 PM
 #689

At my present situation and time I have no reason not to not believe in fiat,alwaus run in my mind how to get money in my pocket for our daily expenses and everywhere I go in what ever I do I always need fiat to accomlish what I need to do for my family,sure bitcoin did help me but I am not in a situation where I cannot exist without fiat.

Exactly, we are not yet in the place where we could not believe fiat and use just something else like bitcoin, because we can't help but use fiat everywhere we go for doing anything, we can't pay for anything with bitcoins nor with any other crypto currency so the only option we have right now is fiat.
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December 06, 2016, 04:09:11 PM
 #690

At my present situation and time I have no reason not to not believe in fiat,alwaus run in my mind how to get money in my pocket for our daily expenses and everywhere I go in what ever I do I always need fiat to accomlish what I need to do for my family,sure bitcoin did help me but I am not in a situation where I cannot exist without fiat.

same here bro, I also have no reason to not believe in fiat because we still need it everywhere for some expenses especially for transportation, and for buying foods and beverages and everything we in our daily life or even vices Grin as bitcoin is still not yet able to use because it is also not yet accepted by most establishments .

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December 06, 2016, 05:50:25 PM
 #691

Why would you hate fiat?In fact, bitcoin has no value withouth fiat. One question is, would you prefer to recieve bitcoin eventhough bitcoin has no prize or value in fiat? I think you did not understand it well. Fiat is highly important because in the first place we use fiat since our childhood.  Our gandparents use it in order for us to live. New technologies emerges but still, fiat is the most or common way to buy something eventhough you are the richiest man or people in thr planet.

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deisik
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December 06, 2016, 08:28:48 PM
Last edit: December 07, 2016, 10:40:32 AM by deisik
 #692

Why would you hate fiat?In fact, bitcoin has no value withouth fiat. One question is, would you prefer to recieve bitcoin eventhough bitcoin has no prize or value in fiat? I think you did not understand it well. Fiat is highly important because in the first place we use fiat since our childhood.  Our gandparents use it in order for us to live. New technologies emerges but still, fiat is the most or common way to buy something eventhough you are the richiest man or people in thr planet.

What makes you think that Bitcoin has no value without fiat?

And which fiat exactly? There are around 200 countries on the planet, and almost all of them have some kind of fiat currency. Would Bitcoin have no value if there were no more dollars around? If so, what about the Chinese exchanges where Bitcoin is traded in huge amounts exclusively for the Chinese Yuan? Should we say then that the latter has no value without the US dollar either? If we can't say that, how can we at the same time claim that Bitcoin depends on whatever fiat?



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coolcoinz
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December 06, 2016, 09:14:23 PM
 #693

Why would you hate fiat?In fact, bitcoin has no value withouth fiat. One question is, would you prefer to recieve bitcoin eventhough bitcoin has no prize or value in fiat? I think you did not understand it well. Fiat is highly important because in the first place we use fiat since our childhood.  Our gandparents use it in order for us to live. New technologies emerges but still, fiat is the most or common way to buy something eventhough you are the richiest man or people in thr planet.

What makes you think that Bitcoin has no value without fiat?

And which fiat exactly? There are around 200 countries on the planet, and almost all of them have some kind of fiat currency. Would Bitcoin have no value if there were no more dollars around? If so, what about the Chinese exchanges where Bitcoin is traded  in huge amounts exclusively for the Chinese Yuan? Should we say then that the latter has no value without the US dollar either? If we can't say that, how can we at the same time claim that Bitcoin depends on whatever fiat?

You're right. The deaths of one or a number of fiat currencies would only boost the value of Bitcoin. Fiat economy is all connected and when a reserve currency loses value it crashes the other markets. Bitcoin is independent and turmoils in fiat markets only affect it short-term.

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December 06, 2016, 09:29:58 PM
 #694

Well considering the situation, i do believe in fiat even though there are lots of negative things that is said in here.  The fact that we are using it and have value to buy goods in the store, only means fiat exist and still existing .  It has value and has a power to buy anything that have price in it.  I don't know what is the others people reason to not believe in Fiat.



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cakravothy
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December 06, 2016, 10:40:56 PM
 #695

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.

why you not belive about fiat money
until now never replace position fiat money
so if you want buy something in supermaket in your country, what do you use to buy ? without fiat money, if use credit card , you can't use credit card if you buy in traditional market

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December 06, 2016, 11:12:40 PM
 #696

I still believe in the fiat of course, the bitcoin will never replace this in my eyes due to the fact Fiat is way too big
TravisNeko
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December 07, 2016, 03:02:58 AM
 #697

Yes I still believe in the fiat and the fact is also that the bitcoin has to use it so its pretty logical, even the bitcoin itself should trust it because its important for its future!
Bitcoin0916
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December 07, 2016, 03:40:16 AM
 #698

Yes I still believe in the fiat and the fact is also that the bitcoin has to use it so its pretty logical, even the bitcoin itself should trust it because its important for its future!
Yes I am also same, fiat will indeed always used and there may be omitted, on the one factor the fiat could protect the national economy of a country because without the government control could make the economy is broken and eliminate the trust of the citizens for the government.
StarofBTC
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December 07, 2016, 08:39:43 PM
 #699

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.
You reflect the common scenario of most of the people here. I love bitcoins but still I believe in fiats and use them for my life just due to the reason of not having enough option to spend bitcoins in my country. I like switch over to bitcoins and to leave off fiats completely. Maybe it come possible in near future.
Exactly and we sometimes use fiat not because we love to use it and pay useless taxes rather we use it because its easy to spend and legal to store in banks. I mean if there were banks that accept bitcoins then why the hell would anyone pay useless taxes at all ?

But since there are no such banks and not many shops that accept bitcoins ( no shop accept btc where I live ) so we have tom rely on fiat until a new revoultion takes btc to each and every store.

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December 07, 2016, 11:17:41 PM
 #700

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.

For as long as the popularity of Bitcoin is not that know to many people, so fiat currency is still very much in use because that is what you or we use in purchase of our day to day needs and also use in paying utility bills because most people believe in physical cash and as you know Bitcoin is digital currency for this reason i still believe in fiat and what ever you ear from bitcoin must be converted real currency.
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