Paper Money - The Greatest Scam

[Pattart]

For many years, we are using fiat money and if we keep it in the bank for long term, the value always decreasing and purchasing power always drop because inflation. I dont know its called scam or not but i dont think its good for us.

Yeah that's what concerns us. if you hold fiat or paper money. of course the value of your money will continue to decrease every year. the prices of basic foods and current needs are more expensive than a few years ago if you use fiat. that's the fact..

[Gagah119]

Yes, I agree if paper money is the result of deceiving people in the world, because they make paper money from the air without being supported by gold, please do your own research, you will be surprised.

[reality18]

I do not associate paper money to scam but it is subjected to all forms of negativities. Paper money is subjected to counterfeit printing but cryptocurrencies cannot be counterfeited due to the smart contract. Paper money is not durable and may eventually tear apart due to prolong handling. Governments spend billions of money printing new set of currencies but cryptocurrency is forever.

[Tienquyendahn]

I cannot agree more. While the number of bitcoin is limited, there is no limited to cash. The gorvement can print as much as money as they can when they need. It is known.

[.gustafson]

I completely agree. The more I realize where the money comes from, the more I realize that something is wrong with this world. If this continues, sooner or later something destructive economy will occur, the scale of which is difficult to imagine

[tinkerr99]

Yes, very sad system. Everyone wants to make money on this and the commission exists. As for Bitcoin, nobody canceled the commission there. But still bitcoin is less control, it is a good resource for traders. But until the rate stabilizes, it is unlikely that everyone will figure it out as the official currency. 

[BLAST2MARS]

But if you are rich, you will never say that. The truth is we don't like things when it is not on our advantage. If fiat is a scam all along then we will never reach many decades using it. All I can say that the fiat system is an unfair tool for mankind.

[ToyotaFortuner]

paper monay have a lot of price manipulation and it is possible that with this price game many realize it and have begun to dislike the use of banknotes, many people want to use digtial currency because they have an opinion that using digital currencies can make transactions safer and faster.

[usorin]

I would say that paper currency is the greatest scam ever to enslave mankind.

Bankers charge interest for a thing which has been created out of thin air.

The paper currency gradually decreases in its value due to inflation over time.

So naturally people tend to move towards cryptos which are free from inflation and the bankers and big economists once again want to pull back people to the traditional enslaving system.

Now the choice is yours.

Enslavery or Financial Freedom?

Think Wise and Twice.

Paper money is the same with cryptocurrency, at the beginning somebody had to believe that a piece of paper has a certain value and it offers the possibility to buy assets and regarding the taxes and fees taken by the bank, house are considered to be payments for specific services.

[munify]

I don't think hard paper currency is a scam, because with paper currency I can make ends meet. For you paper currency is a scam, meaning you don't use paper currency?

[romero121]

Earlier when paper currency came into usage people might have got the same thinking as that people have over bitcoin at present. Till the paper money into usage exchange of commodities were used by the people. It was created for certain purpose, but when years passed people started using it against the purpose of creation. Now bitcoin has come into existence to fulfill the flaws in paper money. Let's wait and see what happens.

[setialovers]

For many years, we are using fiat money and if we keep it in the bank for long term, the value always decreasing and purchasing power always drop because inflation. I dont know its called scam or not but i dont think its good for us.

I often wonder why we use paper money? even though this is just paper that give a rate? whereas the value will continue to inflate over time? I'm starting to think that we might be tricked by the financial system right now, thats why I don't keep paper money, I save gold

I think people using paper money or fiat because government trust. Its true that paper money always decrease the value and gold is good alternative investment because gold known as safe haven investment

[tetyulfania]

How ever paper money is really big scammer in the world, how come last ten year we can buy every thing at my country with one hundred thousand money but right now have less price, better if one day you have much money save it at gold or other investment kind and never save at paper money.

[wahyu wida]

How ever paper money is really big scammer in the world, how come last ten year we can buy every thing at my country with one hundred thousand money but right now have less price, better if one day you have much money save it at gold or other investment kind and never save at paper money.

every year inflation always increases, which makes the value of the currency shrink if used to buy the same item. but somehow the paper currency is legalized by the government and we must comply with it to transact

[ufaiz50]

I would say that paper currency is the greatest scam ever to enslave mankind.

Bankers charge interest for a thing which has been created out of thin air.

The paper currency gradually decreases in its value due to inflation over time.

So naturally people tend to move towards cryptos which are free from inflation and the bankers and big economists once again want to pull back people to the traditional enslaving system.

Now the choice is yours.

Enslavery or Financial Freedom?

Think Wise and Twice.

OK, I understand inflation in paper-money might charge most people, that is indeed the risk and I think as long as you are smart in managing your finances, the risk is not valid, I have a friend who can relied on managing finances so as not to lose value when inflation. There is no inflation in crypto, but how about the high crypto fluctuation in your opinion? both have risks or what you say are scam, but we can overcome them if we can manage the ecomony finances.

[munareal]

The fiat currency has its uses and still do. Money evolution went through many stages and today we are at where the cryptocurrency is used. I see that both cryptocurrency and fiat currency existing side by side.

[canadian33]

In any case, at the moment there are no conditions for using a cryptocurrency. In real life, there are people who have not even heard about it or hardly know what it is. No shops accept Bitcoin. There are only a few shops on the Internet and that's it. If the state meets cryptocurrency, I will be one of the first to start using it as the main currency.

[daarul50]

In crypto, there is no inflation but only fluctuations. I am confused when you say that paper currency is a very big fraud. I think that depends on each of us, if we are good at managing our finances, the impact of inflation will not be so severe on our finances as well as the crypto fluctuations.

[deisik]

I would say that paper currency is the greatest scam ever to enslave mankind.

Bankers charge interest for a thing which has been created out of thin air.

The paper currency gradually decreases in its value due to inflation over time

So far Bitcoin doesn't even cut it as a genuine currency (in terms of adoption and use)

In this way the whole comparison of fiat with crypto doesn't make a lot of sense as you can meaningfully compare only things which share the same or similar metrics or characteristics. So how are going to compare Bitcoin with, say, the US dollar? If you take the USDX index change as a metric to compare against Bitcoin's price, then the result will be devastating for Bitcoin over the timespan of a year to date. Okay, you can claim that we should take a longer timeframe and in that case Bitcoin would be superior to the dollar. But what does it tell us from a practical point of view?

[STT]

every year inflation always increases, which makes the value of the currency shrink if used to buy the same item. but somehow the paper currency is legalized by the government and we must comply with it to transact

It used to be part of the bill of rights by populations vs their governments would be that the currency would not be issued without proportion to worth.   Then the idea of increasing currency in line with GDP appeared and exact connection to a fixed worth like gold was not needed.    However inflation is measured by government itself and is adjusted for their ideas on technology advancement meaning higher prices are justified in their view and discounted not shown in inflation figures.

There is no inflation in crypto

I think there is for many blockchains that have no fixed monetary base.    For Bitcoin it will have a fixed cap and eventually miners fees will have no block reward in there, so theres the idea of no inflation but until blockchain is zero its not unreasonable to talk about low inflation occurring in BTC circulated - ie. a higher yearly monetary base of BTC is available