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Author Topic: Do you Still believe in Fiat?  (Read 74821 times)
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January 05, 2017, 07:53:41 AM
 #921

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
But using fiat is inflict financial loss. For the begining fiat is just representation of gold becouse bring gold everywhere is not practicaly. So the amount of fiat equal to amount of gold. But gorverntment printing fiat regardless the amount of the amount of gold. Inflation makes fiat value decrease. So as smart people we should not believe to fiat.
at the beginning fiat is not a representation of gold but it was made to replace the current method in the medieval age and it's often called barter, and now gold have nothing to do with the amount of paper money printed

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January 05, 2017, 08:11:30 AM
 #922

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
But using fiat is inflict financial loss. For the begining fiat is just representation of gold becouse bring gold everywhere is not practicaly. So the amount of fiat equal to amount of gold. But gorverntment printing fiat regardless the amount of the amount of gold. Inflation makes fiat value decrease. So as smart people we should not believe to fiat.
at the beginning fiat is not a representation of gold but it was made to replace the current method in the medieval age and it's often called barter, and now gold have nothing to do with the amount of paper money printed

Dude...what?  I just got back from the hospital as I had an aneurysm reading your post.

"at the beginning fiat is not a representation of gold but it was made to replace the current method in the medieval age"

http://i.imgur.com/h0LjtCP.gif

Trying to decipher that here, let me know if i'm following you:

1. fiat begins
2. made to replace current method
3. current method is actually medieval method
4. gold not linked to fiat

ok....so what's your point, considering none of those four points relate to each other (or 'believing in fiat')

Also, your reply to agamasrori is almost exactly what he wrote - not to mention the writing style/structure being nearly identical.  Are you guys from the same geographic location?  Honest question, when I read similar writing styles I often wonder if this is a specific 'dialect' of butchering English, or if everyone's just trying to type as fast as freaking possible.

I know I sound like a dick but please don't take offense.  I blame Dragon Naturally Speaking™
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January 05, 2017, 08:35:10 AM
 #923

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment

Most countries the situation is the same, only has got limited acceptance in few food stores and for some particular services. For this reason one cannot move on completely depending only on bitcoin and other cryptocurrencies. Fiat is much important, because bitcoin's capital is very low compared to fiat. To reach near to fiat needs more time than calculated.



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January 05, 2017, 09:18:34 AM
 #924

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment

Most countries the situation is the same, only has got limited acceptance in few food stores and for some particular services. For this reason one cannot move on completely depending only on bitcoin and other cryptocurrencies. Fiat is much important, because bitcoin's capital is very low compared to fiat. To reach near to fiat needs more time than calculated.

I believe in Fiat. because not all people in the world are can use or understand concept bitcoin.

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January 05, 2017, 02:21:42 PM
Last edit: January 05, 2017, 05:14:33 PM by deisik
 #925

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
But using fiat is inflict financial loss. For the begining fiat is just representation of gold becouse bring gold everywhere is not practicaly. So the amount of fiat equal to amount of gold. But gorverntment printing fiat regardless the amount of the amount of gold. Inflation makes fiat value decrease. So as smart people we should not believe to fiat.
Knowing that the fiat is not backed by gold anymore doesn't make us smart, it makes us informed. I didn't know about this before but I've read a couple of posts about it. If people are just as informed as we are, then they might ditch fiat and join the bitcoin club. Grin Fiat is becoming more and more like a "Score" in a game which literally has no value but lets you track what you've done so far. The only difference with the score in a game is that you can spend your fiat. Regardless, fiat is still valueless (since it's not backed by gold anymore), but people thinks that it has value and would do horrible things just to obtain more and more fiat.

To continue with your education

Fiat has value of its own, it is called transactional utility. Basically, it is the price you pay for or value you get from the usefulness of money over direct barter. For example, money allows you to postpone your purchases, i.e. works as a store of value. Governments think that you should pay them for this utility in the form of the so-called inflation tax, i.e. the rate of money depreciation in the case of the most stable currencies out there roughly equals the price of borrowing money for the same amount of time (I refer to central bank interest rates here). Bitcoin also has this value but since it is not widely used as a currency, most of its intrinsic value comes from it being a speculative asset, i.e. it allows you to earn through speculation



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January 05, 2017, 02:32:59 PM
 #926

fiat is good for everyday use so yes, in my opinion we will be using it till 2025 or ever 2030

then we will have digital currency similar to USDT = 1usd
so basically "fiat" but in your phone

 Fiat will not be out of the picture because everyone in the world use. but bitcoin will still exist in the future.

However I would like to point out that many people in the world are too poor to not get enough knowledge and they dont even know about bitcoin and prefer to use fiat for all their daily needs. So ironically bitcoin will go out of the picture Grin

Hence the more important thing is the acceptance of bitcoin which is growing at a slow but steady rate.

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January 05, 2017, 04:05:55 PM
 #927

I believe more in fiat because fiat is more stable than Bitoin. Bitcoin price keeps moving up and down and it may affect our pocket but fiat is stable in your pocket, the $100 will be $100 even when you are sleeping or it will be still $100 when you getup in he morning at the same time Bitcoin price may change at any time so if Bitcoin price grows than it is profitable for you otherwise you'll suffer loos. 

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January 05, 2017, 04:37:58 PM
 #928

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
We need fiat ofcourse to pay such that billing monthly i always trade / exchange my bitcoin into fiat currency but somehow i can also use bitcoin by paying electricity bills they are accepting bitcoin here in my country and thats good for us who using bitcoin anyway Smiley we are hoping that the virtual card will be physical soon.
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January 05, 2017, 10:48:35 PM
 #929

we have to, cryptos are still far far away from replace fiat on ordinary life, many years to come dominated for fiat currencies, besides cryptos are not so spread yet, there a lot of people that do not know about them

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January 05, 2017, 11:05:09 PM
 #930

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
For getting these thing with bitcoin you do not need people in your area to know about bitcoin but whenever you need these things to buy you can order them from online shops available everywhere on internet and with bitcoin you can get these products with a good discount.

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January 05, 2017, 11:47:55 PM
 #931

we have to, cryptos are still far far away from replace fiat on ordinary life, many years to come dominated for fiat currencies, besides cryptos are not so spread yet, there a lot of people that do not know about them

Yeah we don't need to sacrifice our usage and belief to fiat because for each of our countries still there are a lot of people who are still using and relying to fiat money and if we are not going to believe it anymore, we are going to have a  very hard time to convince and ask them to use bitcoin or else you can't have any of transaction if you don't have fiat.



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January 06, 2017, 12:24:33 AM
 #932

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
For getting these thing with bitcoin you do not need people in your area to know about bitcoin but whenever you need these things to buy you can order them from online shops available everywhere on internet and with bitcoin you can get these products with a good discount.
in online shops mainly clothes and food not accept bitcoin as payments because they tend to use fiat or maybe they have more confidence in fiat could also they don't know bitcoin. i always exchanging bitcoin into local currency in my country

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January 06, 2017, 12:27:17 AM
 #933

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
For getting these thing with bitcoin you do not need people in your area to know about bitcoin but whenever you need these things to buy you can order them from online shops available everywhere on internet and with bitcoin you can get these products with a good discount.
in online shops mainly clothes and food not accept bitcoin as payments because they tend to use fiat or maybe they have more confidence in fiat could also they don't know bitcoin. i always exchanging bitcoin into local currency in my country
well for sure they are not really well informed about btc transactions thats why they are not adopting it still but for sure if they learned about how to use the service little by little they will adopt and use it, i still believe with fiat because we can't removed the fact that fiat still represent the nations.

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January 06, 2017, 03:30:33 AM
 #934

i still believe fiat, I meet the daily needs such as electricity, water, food, clothing. using what if I don't believe in fiat? bitcoin? in my country bitcoin still not accepted as means of payment
For getting these thing with bitcoin you do not need people in your area to know about bitcoin but whenever you need these things to buy you can order them from online shops available everywhere on internet and with bitcoin you can get these products with a good discount.
in online shops mainly clothes and food not accept bitcoin as payments because they tend to use fiat or maybe they have more confidence in fiat could also they don't know bitcoin. i always exchanging bitcoin into local currency in my country
well for sure they are not really well informed about btc transactions thats why they are not adopting it still but for sure if they learned about how to use the service little by little they will adopt and use it, i still believe with fiat because we can't removed the fact that fiat still represent the nations.
We have a government and we are bound to follow the laws in our respective country, with bitcoin there's no boundaries as we can all transact wherever we live, but you are right, we cannot eliminate the fact that we need fiat.

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January 06, 2017, 04:02:39 AM
 #935

I don't believe in fiat anymore, simply because that there is a better awy of transacting, of storing value, sending money to your family and friends overseas without having to ever deal with long clearance times or anything physical.

That alternative is bitcoin, obviously. Just compare bitcoin to Western Union transfers and you'll see the huge advantages bitcoin has over WU or PP.

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January 06, 2017, 04:43:14 AM
 #936

I don't believe in fiat anymore, simply because that there is a better awy of transacting, of storing value, sending money to your family and friends overseas without having to ever deal with long clearance times or anything physical.

That alternative is bitcoin, obviously. Just compare bitcoin to Western Union transfers and you'll see the huge advantages bitcoin has over WU or PP.

If your purpose of using your fiat is just to send money then you should really have to believe in bitcoin. But not on all situation, fiat has many uses in real life. Besides, after sending your money to your family, they still have to convert it back to fiat, so they are still using and you too is using fiat.

Aside from that, we are part of the system, we are part of the government in where we live, and by that I could say that we have no choice but to believe in fiat.

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January 06, 2017, 04:49:07 AM
 #937

I just use my cash when I want ot buy some food stuff or paying house renting and some private expenses.
I always keep my money in bitcoin and use it for trading or investing. That is a good way to get more earning.

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January 06, 2017, 11:55:50 AM
 #938

I don't believe in fiat anymore, simply because that there is a better awy of transacting, of storing value, sending money to your family and friends overseas without having to ever deal with long clearance times or anything physical.

That alternative is bitcoin, obviously. Just compare bitcoin to Western Union transfers and you'll see the huge advantages bitcoin has over WU or PP.
I don't believe you. Maybe you don't believe in fiat as an investment but I'm sure you're still using fiat, thus, you still believe in fiat. No matter how much hate there should be towards fiat, we would still end up using it simply because it's one of the medium that we use in order to survive.

Bitcoin might be a really good investment given that the price has increased a lot in the previous weeks but that doesn't change the fact that in real life, we need fiat to buy stuffs since almost no one's accepting bitcoins.

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January 06, 2017, 12:04:18 PM
 #939

I just use my cash when I want ot buy some food stuff or paying house renting and some private expenses.
I always keep my money in bitcoin and use it for trading or investing. That is a good way to get more earning.


Still, it doesn't mean that you are losing your faith to fiat.... Or if you are really losing it, you have no choice... We have to accept the truth that we can't survive yet without using fiat since almost all that we need to live is payable with it... I would believe fully in bitcoin if all the things that I use, including the services are payable with it, that's the only time I would shift to bitcoin and leave fiat forever... Smiley

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January 06, 2017, 12:15:16 PM
 #940

I just use my cash when I want ot buy some food stuff or paying house renting and some private expenses.
I always keep my money in bitcoin and use it for trading or investing. That is a good way to get more earning.

And that means that you are still believing in fiat because the fact that your landlord will not allow you to pay him bitcoins, as he don't know what it is or it is a scam or some new meta. Even how hard you are going to explain to him that it is a real currency which can be used globally still, you don't have choice but to use fiat.

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