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Author Topic: 99% of the people still think that fiat money are better than crypto  (Read 2943 times)
davis196
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November 09, 2017, 12:36:26 PM
 #1

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

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November 09, 2017, 01:01:29 PM
 #2

I was talking with a friend of mine about cryptocurrencies and he said: "Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

As far as I am concerned, what we have right now is the freedom of choice as there is a new form of money we can use for many intent and purposes...meaning we are not anymore limited with the fiat money. Personally speaking, I have no problem with the fiat money and there is no need to say that it would soon die because there will always be many people who can not use new technology and we have to respect them for their choice. Can you just imagine a woman who is already 85 and you insist that she should be using the crypto form of money instead of the paper bills she might have in her purse? That would tantamount to be an insult.

There is no need to choose one over the other because both have advantages and disadvantages and that is a big reality we have to accept in life: there is no perfect invention ever and all are subject to change that is why we always say that there is always some room for improvement. We have to remember that there is no law or any moral code for that matter dictating that we should be prioritizing the digital form of money over its printed counterpart. In other words, we can have both and I think this is quite true with all people here in the Bitcoin community. We have Bitcoin and we also have the traditional paper money. No need to dismiss one in favor of the other one.
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November 09, 2017, 01:09:50 PM
 #3

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

Which is somehow true, you can't teach the value of bitcoin to other people just let them learn about it by their own.
Your friend is right and besides how will he say that bitcoin has a value if it doesn't have that much of a use now a days.
Once the time comes that bitcoin is widely use then it will be more convenient to use it than fiat currency.

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November 09, 2017, 01:15:44 PM
 #4

Because Bitcoin is not enough used for the daily needs. You can't go to the supermarket and to pay with Bitcoin for example. You can't say to the cashier "Wait I am waiting for 6 confirmations"  Cheesy

But let's imagine Bitcoin is accepted everywhere to pay everything as we can do with fiat, the thing is different.
People can save money with the operating costs (banks fees, etc) and the merchants too can save money on the sales. Money saved that could lead to decrease the prices.
Or another advantage can be that Bitcoin doesn't have a limit for spending like we have with a Visa/Mastercard with their weekly/monthly limits.

It's the reason that we need to see Bitcoin adopted massively to get the most of it. The price can be $100k if no one uses it and it can't be traded then it's useless

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November 09, 2017, 01:25:05 PM
 #5

Even the money in your pockets come from the banks cause you withdraw them from the ATM's or they're paid to you by selling something or your monthly wages / salary. All of these can be traced back to you and none of this is anonymous. The reserve banks know how much money you have withdrawn from your bank accounts, how much salary has been credited to your account and they even would like to know if you've paid your taxes. Hence, what I'm attempting to portray by saying all of this is that anonymity depends on not tying your identitiy with the money that you receive. I believe with cryptocurrencies like monero privacy in transactions have been taken to new heights and probably we could see something similar in Bitcoin soon (for example the dandelion privacy project which attempts to conceal the IP address of the node and transaction).

Where I live my bank already knows how much fiat is in our of my bank and where I'm transacting it even if I pay in cash. If needed they can easily trace this information from the retailer from where I've made my purchase.
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November 09, 2017, 01:30:39 PM
 #6

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
I think the reason why some people think that fiat money is better than digital money or cryptocurrency, is that because they dont have any knowledge about cryptocurrency. They dont know its usage and capabilities thats why its easy for them to say that fiat money is better than digital money, which is not true. Cryptocurrency is better than fiat money in many ways. They just need to learn and understand its usage and capabilties.

 
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November 09, 2017, 01:34:39 PM
 #7

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

LoL, your friend is a right brain user Grin, he's right about bitcoin isn't anonymous, as it's pseudonymous. Fiat currency is the most anonymous as long as it doesn't going through banks system. Cheesy
Most people (99%) still using fiat currency, only few place where we can spend bitcoin directly to the market.
and bitcoin just 9 years old. Give it another 10 years and we will see what happen in monetary system.
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November 09, 2017, 01:35:30 PM
 #8

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
Not a surprising thing because most people do really think of this way which they do believe that fiat is always better on any other things that do exist which is normal for them to say even myself would really do say the same thing i i havent known about bitcoin. Just dont force them on what they do believe as long us bitcoin users do already know on making advantage when it comes on money handling and controling with your own hands without any 3rd party involve. If they would just knew it for sure they would changed their minds.


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November 09, 2017, 01:39:50 PM
 #9

At the present time, fiat will be much better than crypto, but in the future, digital money will grow and monopolize the money market, Things like fiat. And then, the crypto would really be better than fiat many times


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November 09, 2017, 01:48:28 PM
 #10

He is right about cryptocurrencies being not totally anonymous though. But who cares if a lot of people still doesn't want to use bitcoin. You can't force everyone to just hop in in what they don't understand. Besides, bitcoin was not made to fully replace fiat currency, it is an alternative. I think fiat and crypto could and should coexist with each other. There are things that we need to let the government control.
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November 09, 2017, 01:48:59 PM
 #11

This is mainly to do with public ignorance at the moment. You can keep $200 in your pocket "anonymously", but what about $10,000? or $100,000? would you keep those in your pockets? no. You would then need a bank and you'll get a lot of questions asked by the government, tax authority, etc. You could easily hold that much money in cryptocurrency in your pocket (easiest way - a hardware wallet), and it will still be completely safe from getting your money stolen, etc. The only thing needed for wide adoption is for it to be accepted more by merchants and for its price to be less volatile.
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November 09, 2017, 01:49:12 PM
 #12

not sure if it was approximately 99% of people but as far as i know, there are a bit plenty of them. the reason maybe is that they are scared to bitcoin's capability, issues, or just simply they do not know what is it, or maybe they knew but they just ignore it.

  
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November 09, 2017, 01:49:34 PM
 #13

At the present time, fiat will be much better than crypto, but in the future, digital money will grow and monopolize the money market, Things like fiat. And then, the crypto would really be better than fiat many times
Totally agree with you. Crypto still in early stage, may take times to expose to global. Still more and more people aware about crypto nowdays. Maybe in 40-50 years in the future, fiat will be a history.

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November 09, 2017, 01:50:03 PM
 #14

One thing you should understand from the word is it's only a joke to give opinions. That cryptocurrency is much better compared to other places, because if we can't understand everything well then as now (you're wrong). Maybe if you have a standard money or no money beyond you, then surely it can still be in anonymous. However, all the data can be obtained by each group for their interests, so that money is not the most secure place or anonymous. It's just a nonsense if anyone say that money is the most anonymous.

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November 09, 2017, 01:54:35 PM
 #15

People who assume bitcoin is anonymous basically wrong at the first word. Bitcoin is pseudo-anonymous, and just will stay secret or unknown by public only if the identity of address holder didn't revealed nor published.
I probably have the same thought that carrying dollars in pocket is the most anonymous way, but it's just too traditional, with cryptocurrency that truly anonymous like monero you can send millions of dollars within few click but carrying million dollars in bag? not a good idea honestly


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okissabam
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November 09, 2017, 01:56:59 PM
 #16

Probably because those people have not tried to store bitcoin or have not had bitcoin ever. Although yes they do have a point about having money on your pocket as anonymous because who knows you have that amount in your pocket right? That's the same thing with Bitcoin and other cryptocurrencies too, anonymous in ways like if you are sending money to your loved ones to the other side of the world. You can send them using bitcoin anonymously unlike the old school way wherein one would go to a money changer to change the amount that was sent or the like.

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swaptaker
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November 09, 2017, 01:57:39 PM
 #17

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. Grin"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

Well, even 1% of the people is more then enough and you will see that the number will go up significantly with time. This is depending the usage of cryptocurrencies. Maybe some countries will start to use them instead of their national fiat money, who knows.
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November 09, 2017, 02:21:00 PM
 #18

Fiat is better than Crypto, for which purpose? This question needs to be more specific.
Both fiat currency and cryptocurrencies have multiple utility. They have different uses like mode of payment, store of value, overseas remittance, pegging and much more. So simply saying fiat to be better than cryptos doesn't answer all the questions. For example, let's talk about store of value, suppose you put $1000 in the box and open box after a year. You will find your $1000 will have lesser purchasing power (real value) as it used to have a year ago. On the other hand if we put $1000 in any big cryptocurrency for a year, your sum will multiply many times.

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noormcs5
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November 09, 2017, 02:29:54 PM
 #19

So what's wrong in it. It is true, in all of the world if 99% people prefer to fiat then they do it right. Fiat is our first currency and crypto currency we are using it just for increasing our fiat money. I am also one of them who believe on fiat currency, because fiat is our own currency and crypto is just for our investment or trading and we could do it only on online world.   

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bitbunnny
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November 09, 2017, 02:35:14 PM
 #20

That is not strange at all having in mind that 99% of people are still knowing only about the fiat money and never had any experiences with cryptocurrencies. Bitcoin and other cryptocurrencies are still very limited to a pretty small circle of users. And honestly cryptocurrencies still can't be used for everything that fiat currencies can and people are still receiving their paycheck in fiat so of course they think it's better.

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