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Author Topic: [FACTS] Altcoins can never replace FIAT !  (Read 1939 times)
Spoetnik
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October 19, 2016, 08:46:26 AM
Last edit: October 19, 2016, 11:20:02 AM by Spoetnik
 #1

I will start off with one of many reasons why (i have posted since 2013)

The biggest problem i see with a digital currency is.. that it's digital  Cheesy

The fact is if we see a huge part of the world in a black-out with no electricity..
then we will see crypto coins as neutered and useless.


This is in fact a very real possibility certainty.
I have seen countless scientists many from NASA say for 20 years this WILL happen and it's a matter of when not if.
So what are you going to do then ?

Since day one when i got into this stuff i have warned users abut this.
I have warned them that something should have been done to account for this risk.
Not sure what you CAN do though.

There is many reasons why crypto-coins can not replace FIAT.
I will post another reason or two later Wink

FUD first & ask questions later™
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October 19, 2016, 10:22:12 AM
 #2

97% of all fiat is digital, most of the infrastructure for fiat requires electricity, so fiat has the same problem....therefore its not really an independent problem for crypto

If it does happen, I vote we all go back to bartering and use goats as our currency of choice!

Case closed :p

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Spoetnik
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October 19, 2016, 11:36:37 AM
 #3

FIAT is not going to suffer the same problem.
Its not digital.. i can pull out some cash from my wallet RIGHT NOW and show it to you.
I am willing to bet in an extended Black-Out FIAT will still be used heavily.
It will not vanish for bartering or metals..
Why ?
Because it will have faith.. people will have faith when the power is turned back on bank records etc will get updated.
Same with Crypto coins except the point.. why i posted !
Is that crypto-coins will be unable to function if too much of the power grid is knocked out.
hence why you said you would use Bartering Wink
in other words you agree i am right.

I think it's sad that all of crypto has ignored this glaring problem since day 1.
And it will eventually come back to bite you all in the ass hard.

Don't forget there is lots of users around crypto making predictions that crypto will replace FIAT.
Which is not a rare thing.. lots of stary eyed little dreamers think that.

I also remind them that the poor can't use crypto coins..
Super large areas of the world can't or won't use Computers for one thing.
Hell i have a room-mate who still no matter how many times is shown how to use a computer still can't figure it out.
And yet you delusional naive little experts proclaim all cocky like that FIAT will be abolished and digital currency will replace it.
NONSENSE ..silly bullshit !

Sorry but hate to burst your bubble but there is too much of a NEED for FIAT.
You delusional little Millennial kids need to strap on the reality-cap tight and get a grip !

POWER OUTAGES ?
I had a planned power outage about 2 weeks ago at home..
I used my cell-phone and some speakers to play music with it.
But that battery will not last forever !

If there is an extended power outage for all of North America (or most of it)
There will be a massive problem including thousands if not millions of deaths.
Either from heat or cold.. i know because it did already happen.
Google search New York power outages and the associated deaths because of it.. same as in Canada after winter storms knocked out power for long periods.
And the longer it is the worse it will be.
The govt / police / hospitals etc will be over run and Marshall law will go into effect and there will be huge amounts of crime and mass looting and house / business raids.

REALITY ..the clock is ticking and no one in crypto is prepared.
And if you want to make an ALTCOIN then i suggest fixing that obvious problem Bitcoin suffers.
If you can't fix this problem then come to terms with the fact that crypto-coins are DOOMED !
Broken by design.. reliant on power that can not be guaranteed.

FUD first & ask questions later™
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October 19, 2016, 12:24:24 PM
 #4

FIAT is not going to suffer the same problem.
Its not digital.. i can pull out some cash from my wallet RIGHT NOW and show it to you.


He just said that only 97% of fiat is in digital and not the total amount. So it means that your cash in the wallet is belongs to 3% that is not included there. Because even the world bank where the majority of the fiat is stored. They have  it on digital storage because physical money is hard to stored and transfer to other account.


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October 19, 2016, 12:32:39 PM
 #5

97% of all fiat is digital, most of the infrastructure for fiat requires electricity, so fiat has the same problem....therefore its not really an independent problem for crypto

If it does happen, I vote we all go back to bartering and use goats as our currency of choice!

Case closed :p

True, everything is digital nowadays so fiat and cryptos will share the same fate in case of power disruption.
But sorry I don't accept goats, only cows  Cheesy
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October 19, 2016, 01:01:18 PM
 #6

97% of all fiat is digital, most of the infrastructure for fiat requires electricity, so fiat has the same problem....therefore its not really an independent problem for crypto

If it does happen, I vote we all go back to bartering and use goats as our currency of choice!

Case closed :p

^This.

If this does happen for any prolonged span of time, 97% of population will die out simply because food will stop growing on the shelves. Goats will be of great value, I assume.

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October 19, 2016, 01:21:43 PM
 #7

The biggest problem i see with a digital currency is.. that it's digital  Cheesy

The fact is if we see a huge part of the world in a black-out with no electricity..
then we will see crypto coins as neutered and useless.


This is in fact a very real possibility certainty.
I have seen countless scientists many from NASA say for 20 years this WILL happen and it's a matter of when not if.
So what are you going to do then ?

Well, in this case northern countries like Sweden will be in deep x.
I've read many times that some of them (or was it only one?) tries to give up paper money and make everything go with Card or phone payment.
So if banks try to create this trend for FIAT, I don't see a big problem in the fact that crypto currencies are digital.

And yes, in the case of prolonged power outage goats, sheep and chicken will worth a fortune Smiley

A question that I want to ask since I've read the topic is... why only altcoins cannot replace FIAT? Is Bitcoin less... digital? Smiley


PS. I agree that crypto currencies cannot replace FIAT now, there are better reasons than electricity.

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October 19, 2016, 01:52:30 PM
 #8

Can imagine what will be going on in the mind of people when paper currency was designed to replace gold, I am not 100% sure digital currency will replace fiat but when change come you won't even know how people will accept and adopt it.
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October 19, 2016, 01:54:04 PM
 #9

Half the world can't get computers or phones or even a bank account.
So no.. FIAT is not going anywhere.

And none of you responded to my point that FIAT would still be used in an outage because of faith.
The same exact faith that has kept it going all this time so far.

A bit hard to keep a pile of goats in your pocket.
But i would expect if it carried on for a LONG time metals to rise up and be the new currency. AKA: Gold / Silver.

Crypt Coins will never replace FIAT.. even if you all out there keep saying it.
And once we start talking about it all you do is move the goal posts.
When you said it would "replace" it.

You need to be realistic and look far beyond your own 'Like' clicking Facebook world kids.

FUD first & ask questions later™
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October 20, 2016, 04:44:44 AM
 #10

Can imagine what will be going on in the mind of people when paper currency was designed to replace gold, I am not 100% sure digital currency will replace fiat but when change come you won't even know how people will accept and adopt it.

Actually in the beginning paper currency was not pushed as replacing gold, it was pushed as a note that entitled you to a exchange for Gold if so asked.
Which is why this used to be printed on Money.
United States of America
Fifty Dollars in GoldCoin
Payable to the Bearer on Demand




Paper was lighter to carry than gold, and the banks would swap with you before the asshats changed it.
https://www.frbservices.org/help/coin_and_currency.html#a2
Quote
Federal Reserve notes are not redeemable in gold, silver, or any other commodity. Federal Reserve notes have not been redeemable in gold since January 30, 1934, when the Congress amended Section 16 of the Federal Reserve Act to read: "The said [Federal Reserve] notes shall be obligations of the United State. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve Bank." Federal Reserve notes have not been redeemable in silver since the 1960s.

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October 20, 2016, 04:55:58 AM
 #11

97% of all fiat is digital, most of the infrastructure for fiat requires electricity, so fiat has the same problem....therefore its not really an independent problem for crypto

If it does happen, I vote we all go back to bartering and use goats as our currency of choice!

Case closed :p

@spot ... you are not listening ... your argument is lost already.

@kiklo ... spot on ... 'the bankers' offered convince of paper vs. physical and solved the 'network' problem by balancing the difference between themselves ... few of them knew it was just a con to convert 100% to paper ... that hustle is BUST!

Now the 3rd world can handle cell phone tech ... or at least ATM + 'password' ... so yes some kind of poker chip that can't be counterfiated with a high degree of confidence will still pass as money ... but the value it holds will be dependent on the local bank that promises to redeem it for UNO or BTC or LTC or whatever.


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kiklo
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October 20, 2016, 05:05:13 AM
 #12

What you mention about the dangers of EMP are true, however an EMP of that magnitude would kill everyone with a pacemaker and anyone with medical needs that depend on the current system. One good book on the subject is called One Second After by William R. Forstchen and it will scare the hell out of most people. http://www.onesecondafter.com

Cash becomes useless within days of the EMP, and Barter takes over.
Food , Cigarettes, Gasoline, Pre 1982 cars that still run, ammo , and what little medicine can survive without refrigeration.

Their is no faith in a Government Note, when for all practical purposes their is no government.
So Physical Cash will hold no special favor over a digital version.

Draw some Fiat out of a bank last week , and the bank was advertising Apple Pay.  Tongue
There will be a move from physical cash to some form of digital cash stored on or managed by people's cellphone, the dark powers are dead set on making this change within a decade or so. Whether the Govs create their own or force the populace to use a chosen crypto thru subtle influence or harsh penalties, only time will tell, but it is inevitable.

One of my friends was doing some work in Haiti (one of the poorest countries), what amazed him was seeing a guy riding a donkey with no shoes but he was talking on his Cellphone.   Wink
Small solar panels can easily keep cellphones charged in the poorest of countries.
  
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October 20, 2016, 05:21:30 AM
 #13

litecoin and ethreum can exchange to fiat money without bitcoin
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October 20, 2016, 06:22:38 AM
Last edit: October 20, 2016, 06:37:57 AM by kiklo
 #14

97% of all fiat is digital, most of the infrastructure for fiat requires electricity, so fiat has the same problem....therefore its not really an independent problem for crypto

If it does happen, I vote we all go back to bartering and use goats as our currency of choice!

Case closed :p

LOL,
Since you mentioned Goats, here is some info  Wink

1 Goat = ~$300 US Dollars on this site
http://www.prairiefruits.com/goats-for-sale

Goat Milk can be drank by people allergic to cow's milk
Nutrition wise it is better than cows milk.
Goat Milk can be used to make some of the world's best cheeses, also used in making excellent soaps

Goats can eat from areas where farming is impractical and thrive.
Goat is the most widely consumed red meat in the world.
http://modernfarmer.com/2013/09/goat-left-behind/

Goat sexually mature: From 4 to 6 months.
In season (when female goats are fertile): Between September and March; fertility lasts up to three days. If the female goat is not mated, she will come into season every 21 days. Once mated, goats can stay in milk for two to three years.

Gestation (length of pregnancy) of a female goat : 150 days
Normal Number of goat offspring at 1 birthing is 1 to 3
(Have personally seen one have 4 kids at 1 birthing)

Average Goat Life Span is usually ~ 11 – 12 years


 Cool

FYI:
Personal favorite breed of Goat is a kiko


Recent popular one in the US is a Boer


Boers do great in dry climates, but full blooded ones will get sick on you quick in environments with a lot of rain.
So get one that is mixed with kiko or spanish or anything else so it has a stronger Constitution if you are not in a dry climate like Africa or Texas.
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October 20, 2016, 08:22:34 AM
 #15

this is the obvious facts that are too obvious that nobody ever talks about!

not even bitcoin can replace fiat but not because of the reasons you are talking about here! world black out and NSA crap are all doomsday theories suitable for people living in their basements with tinfoin-hats Cheesy

the reason is because people first of all would not give up their tradition fiat for anything else this easily.
and secondly government would never give up control over money to a decentralized money they can not control!

EMPTY
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October 20, 2016, 08:41:56 AM
 #16

97% of all fiat is digital, most of the infrastructure for fiat requires electricity, so fiat has the same problem....therefore its not really an independent problem for crypto

If it does happen, I vote we all go back to bartering and use goats as our currency of choice!

Case closed :p

LOL,
Since you mentioned Goats, here is some info  Wink

1 Goat = ~$300 US Dollars on this site
http://www.prairiefruits.com/goats-for-sale

Goat Milk can be drank by people allergic to cow's milk
Nutrition wise it is better than cows milk.
Goat Milk can be used to make some of the world's best cheeses, also used in making excellent soaps

Goats can eat from areas where farming is impractical and thrive.
Goat is the most widely consumed red meat in the world.
http://modernfarmer.com/2013/09/goat-left-behind/

Goat sexually mature: From 4 to 6 months.
In season (when female goats are fertile): Between September and March; fertility lasts up to three days. If the female goat is not mated, she will come into season every 21 days. Once mated, goats can stay in milk for two to three years.

Gestation (length of pregnancy) of a female goat : 150 days
Normal Number of goat offspring at 1 birthing is 1 to 3
(Have personally seen one have 4 kids at 1 birthing)

Average Goat Life Span is usually ~ 11 – 12 years


 Cool

FYI:
Personal favorite breed of Goat is a kiko


Recent popular one in the US is a Boer


Boers do great in dry climates, but full blooded ones will get sick on you quick in environments with a lot of rain.
So get one that is mixed with kiko or spanish or anything else so it has a stronger Constitution if you are not in a dry climate like Africa or Texas.

hahah this guy will be the King of a goat bartering economy!

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October 20, 2016, 09:07:25 AM
 #17

I have too many replies LOL

@kiklo
I lived renting a house on a farm for years and had Goats in my yard so i know about them myself.
They use to harrass the shit out of me when i came home with groceries !
I once flipped out and raged like a maniac because i had like 5 or 6 groceries bags full trying to open my gate to get into the yard the were penned up in around my house and they were jumping up on me & shit like crazy causing me to drop food + a 4 liter jug of milk on the ground which they swiftly started licking off the ground.
I was pissed ! i started yelling at them to fuck off.. and they did.

Goats ?
I have Goat Simulator for Android & PC.. i am all about the power, majesty and mystical prestige of Goatdom !
I got a tattoo of the infamous Goatse.jpeg on my back.. Wink

ProGoatTip:
Google image search Goats on Motorcycles.. i do regularly  Cheesy

But yeah i recall hearing about the Gold / FIAT redeeming thing in the old days.
And if we are talking about power being out it would depend on HOW LONG.
If grids were being fixed and it took a few months there would still be faith in a FIAT currency.
Not saying bartering would not happen though.

Oh and i have seen scientists state many times flares / CME's can do more damage than you all realize and do .. the medical records are recorded.. so there is not little conspiracy about it.
People with heart conditions such as myself die on a regular basis from CME's
I seen this posted a million times SpaceWeather.com but read this for another source..
Solar Storm Disaster Preparedness Plan1 - Impact
http://www.breadandbutterscience.com/SSDPP.pdf ...Seems to mirror what i said huh ?
Guess what ? I never read it.. it's just that a lot of people are saying what i said.
And guess what i said earlier ?
Scroll up.. NASA scientists are saying it and for 20 years yet once again we hear tinfoil babble.
So what the US govt and NASA are telling the public crazy conspiracies ?
Or common sense because it HAS already happened in human lifetimes ? ..more than once.
So yeah it keeps happening and NASA warns you and we have proof but yup..... conspiracy  Roll Eyes
Morons cry TinFoil hat..

There is plenty of reasons for this topic.
None are debunked.
FIAT cash paper & coin money will not be replaced by a crypto currency.. that is just stupid.

And sorry but 3rd world countries having cell phones ? Uhhhmm no that is dumb.
They don't.
You millennial brats are stupid.
I shouldn't have to prove it if you check yourself.
Such as i recently seen a study where a huge portion of people in USA & CAN do not have a bank account.
So how are we using digital transfers then ?

I just finished saying i have a room-mate who does not even know how to turn on a computer.
Let alone a cell phone etc and you think this guy is even going to grasp what Bitcoin is and trust it and switch to it over his pocket full of money ?
Not fucking happening.
Tribes in Papua New Guinea ? oh yeah yeah they have lots of power outlets in their grass huts.

The reality is FIAT is NEEDED and if it is needed it will not be "replaced" as you all love to claim over & over.

People in Crypto have been claiming Bitcoin or an Altcoin will eventually REPLACE FIAT.
I have heard it lots all over and i still think it's bullshit.
Further more designing them to be 100% reliant on an always on Internet requiring electricity is 101% retarded.
The greatest point of failure and weak point.. ignored.
It's true and i do not recall ever hearing 1 other person on earth ever mention it.
I started bringing this up on Cryptsy chat in mid-2013.. and yeah i heard the obligatory tinfoil hat remarks..
Problem is.. i will not get to say i told you so Sad
You can't get to Bitcointalk if the power is cut in the USA or the Internet is taken down etc.

I love when idiots say "impossible" on the Internet..
I have been hearing that like a broken record and i ALWAYS prove them wrong.
Then i laugh in their face.  Cheesy

FUD first & ask questions later™
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October 20, 2016, 09:35:29 AM
Last edit: October 20, 2016, 10:04:34 AM by kiklo
 #18

Plan has been in the works since 1988 with a scheduled date of 2018 for mass implementation
https://socioecohistory.wordpress.com/2014/07/26/flashback-1988-get-ready-for-a-world-currency-by-2018%E2%80%B3-the-economist-magazine/

Negative Interest rates and some Business refusing to accept cash is all part of the hammer to force people into crypto.
http://bucks.blogs.nytimes.com/2010/06/08/sorry-no-cash-please/?_r=0
https://www.bostonglobe.com/business/2016/08/03/paying-cash-some-stores-say-thanks-greenbacks-credit-only/a4EvjwgTpI7r4lD3xVOENO/story.html
http://www.abovetopsecret.com/forum/thread1033497/pg1   (AT&T DONT EXCEPT CASH?)

As far as the very few in the future that don't have the funds or the intellectual capacity,
they will be subjected to 3rd party services to transfer money or using Gift cards to hold their funds.
Smarter people will use Gift Cards linked thru their phone like GYFT .
https://www.gyft.com or https://www.egifter.com or https://www.cardfy.com and purchase the desired Gift Card with the BTC .

Mentally Challenged people like your friend will have the credit card style gift cards with a bar code.
https://usa.visa.com/pay-with-visa/cards/prepaid-cards/payroll-card.html
http://abcnews.go.com/Business/wal-mart-employees-debit-cards-paychecks/story?id=8494124

** The only thing that has to happen , is the Banks add a Deposit FEE for CASH of a few % ,
Business will be forced to go cashless to save profit margin, and they will force the public to go cashless, it is that simple.  Tongue


 Cool  

FYI:
http://mashable.com/2013/04/05/mobile-solar-power/#QEDSf_ejmkq8


Quote
6. WakaWaka Power Compact Solar Charger

After a day in the sun, the WakaWaka compact charger can fully charge your phone.
And there's a perk -- for every charger you purchase, WakaWaka gives one to those in need (and it manufactures parts in Haiti,
which is still reeling from natural disasters).

Price: $79

Image courtesy of WakaWaka


SANALIU
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October 20, 2016, 10:08:34 AM
 #19

is true altcoin can never replace and take over fiat money
bitcoin is too never replace and take over position fiat money
bitcoin and altcoin only use in online digital curency
fiat money can use in real life
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October 20, 2016, 10:11:24 AM
 #20

I don't think most of you grasp how technically inept a huge amount of the population is.
vs.. cash in your pocket.

Even myself i prefer to have cash in hand.
All my life if i get a check i cash it and take the money.. i do not like or trust banks.
Which is not too unusual..

Then factor in the mystery if people even hear about various tech things like services or BTC etc.
They scare people.. for good reason (ever seen a hack news story ?

I was arguing about something dumb with my inept room-mate idiot..
I had to remind him.. hey guy.. know what ?
I can Google search ANYTHING and get the truth in a heart beat.
He was like ohhh uhhh yeah i forgot he said.
He just does not grasp that there is a wealth of factual information out there at the click of a button.
Because ? He does not even vaguely grasp the tech.. the Internet etc.
It's all just mysterious bloops and bleeps as he holds the computer mouse upside down.
He's hitting the scroll wheel sayin' did i do one ? Did i internet now ?

And NO you can't tell people these things because it goes in one ear and out the other..
I tried to show the guy how to click a button and he still does not get it after being shown for years.

A HUGE part of the population NEEDS the simplicity of FIAT.
The tangible quality of cash in hand can not be substituted with something digital.
Supplemented ? Absolutely ! ..no argument there.

A world currency ?
Sorry but that is just not going to happen.
I was the one who posted here first the UK dropped out of the EU..
In other words you will not get your ducks in line !

You think North Korea is going to drop their FIAT for BTC ? or a world currency ?
You all need to be realistic about the needs / desires of various parts of the planet.

Don't forget how many of you have claimed a digital currency will REPLACE FIAT money.
That is the topic and i brought it up because i have heard it a LOT for years !
Do you people ACTUALLY believe this realistically ?

PS:
GOATS !!!111ONE

FUD first & ask questions later™
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