Do not be this type of Bitcoiner

[princehandsome]

Bitcoin is just a digital currency that can be accessed through the internet and indeed Bitcoin will still be a Bitcoin.  fiat will still keep be fiat because Bitcoin and fiat are different, maybe I think people will forget themselves when they have a lot of Bitcoin and forget about fiat, but fiat will always be there and Bitcoin is not necessarily will always there.

[buahkudu]

may be able to make a lot of money to invest in it or our little allowance so we can no longer invest in it with very little capital.

[franky1]

too many people think a dollar is just a dollar. and anyone that has a billion dollars. is holding the same dollar as someone that just went to the bank ATM and got bank notes out.

when they realise that the petrodollar. and the SDR dollar is not the same as a fiat ATM dollar. they will be shocked.

an bank note $10 will always only be $10. and over the years it buys less loaves of bread.
a SDR/petrodollar moves with other countries currencies. and compared to other countries doesnt lose as much bread loaf value as a bank note does.

to simplfy it down to common folk. a bank note $10 will always be a $10 in your pocket.
but the digital bank account dollar might be $10.10 next year at 1% interest/inflation

that said. many people buy assets that today are worth $X but in future. could be worth $XXXX while still only buying the same amount of bread as previous years.

what i find estounding is why we even measure bitcoin against the dollar. and then other countries have to measure their native fiat against the dollar and then measure to bitcoin.

imagine if bitcoin was invents a decade earlier. and was measured against the Zimbabwe dollar as the primary.. think about that

[franky1]

to those thinking the dollar cant/wont collapse. again look to zimbabwe

to those thinking "america too big to fail" fail to realise that america is too big. even when the words "americas too big" passes their lips
just look at the pensions vs populations.

the baby boomers that have been paying in pensions are about to get to retirement age and instead of seeding/inputting funds. they are going to be leaching/taking out.

the rest of the population. (less populace per age bracket) will be at a deficit. because 60 years ago it was only calculated that people live for 10 years after retirement. but now people are living 20-50 years after retirement
so all them people on 'guaranteed income' pensions will be eating well passed what they input and chewing on the inputs of others.
most will just take it out as lump sums which still extend beyond how much they put in.

so expect the next banking crash to not be about housing subprimes. but the pensions deficit. and dont expect people to just pass away quietly of 'old age' due to poverty. expect lots of human rights and civil court drama adding more funds to be taken out the banks holdings

[Wind_FURY]

Then do you agree with Francis Pouliot that "Bitcoin is the only viable alternative" to the fiat money system, and that holding it is a bet on its collapse?

[azalea69]

Bitcoin is indeed a viable alternative for bitcoin holders, but for those who don't know bitcoin, they will answer gold is a viable alternative. So this depends on each individual, for those of us who know with bitcoin, they will run with the right bitcoin for alternative investments.

[kelz1]

You don't know his background. If you live in venezuela and have to travel hundreds of miles to get into colombia just to buy some rice, then you would be saying the same thing and focusing in bitcoin while the financial system collapses

[skish85]

Many crypto-enthusiasts are very fanatical. Thinking is absolutely irrational. Regarding the future of the financial system is currently difficult to say. The only thing I can say is that cryptocurrencies will develop.

[beami]

Bitcoin does have value and will grow with it, eventually, it will become an alternative tool for investment. It's a good opportunity to be in it and manage it well so you don't regret it. Don't make market welds that are collapsing all of this requires a process for proper development.

[Red-Apple]

there is so much fight on bitcoin and lots of blood being shed just because people want to buy more of it while they are still young and bitcoin price is still low so that they can enjoy the millions of dollars profit in the long run when every average Joe in the street finds out about bitcoin and wants in but too late. right now they can FUD and manipulate the price to crash so they can buy more but in some years in the future they won't.

[munareal]

I believe the financial economy is big enough for cryptocurrencies and fiat currency. The user can use both currencies to suit his need. Fiat currency will not die because of the cryptocurrencies as the mainstream society are yet to adapt its use

[ShadowBits]

Haha.

https://twitter.com/francispouliot_/status/1049313082344988673?s=21

"Buying Bitcoin is about exiting fiat. It's a bet on the future collapse of fiat money financial system. Bitcoin is the only viable alternative. It's vastly superior as censorship-resistant medium of exchage, store of value, network effect, unit of account than all competitors."

He is taking it to the extreme. Why does Bitcoin need to be a "bet" on the future collapse if the established financial system? Does he want it to collapse? Does he believe that it will not encourage instability, disorder, and chaos? What about the other 99.9% of the population who are not Bitcoiners?

He only uses it the way he knows how to. Everybody does it too because they see a lot of prospect on how to use Bitcoin and other crypto for now.

[erickbarkley29]

hmmm, it is too much. i don't know he is really sure about that but we should be careful

[Scharfenberger]

The guy is madly in love with Bitcoin, like Gollum with his ring   or he has came to us from a rather distant future and is right.

[cetald]

I used to think that in the event of a financial crisis, bitcoin will go up. But lately there has been a trend that bitcoin is following the stock market. Therefore, one can hardly hope that the bitcoiners will benefit from the financial crisis.

[Mhd-Bobbi]

Haha.

https://twitter.com/francispouliot_/status/1049313082344988673?s=21

"Buying Bitcoin is about exiting fiat. It's a bet on the future collapse of fiat money financial system. Bitcoin is the only viable alternative. It's vastly superior as censorship-resistant medium of exchage, store of value, network effect, unit of account than all competitors."

He is taking it to the extreme. Why does Bitcoin need to be a "bet" on the future collapse if the established financial system? Does he want it to collapse? Does he believe that it will not encourage instability, disorder, and chaos? What about the other 99.9% of the population who are not Bitcoiners?

I think they risked Bitcoin with Topics.
1. If the price of bitcoin decreases, the opponent will lose.
2. If the bitcoin price rises, the opponent will win.
They don't want bitcoin to collapse, but they only make bets using topics with bitcoin betting themes, I think they seem to play games.
Nobody wants Bitcoin to collapse, all still looking for income using different topics and various ways to continue to generate bitcoin.
Maybe that's my thinking.

[Eko prasetyo]

I think bitcoin will achieve many things in the future, but I don't think it can completely replace Fiat's money.
Maybe this will happen, but not immediately. Everyone must know bitcoin and recognize the nature of the cryptocurency itself. In essence all must also know about the problem of crypto instability. All require a long process.

[zolfa]

I thought he was obsessed with betting, so he didn't think that BTC's journey was still long, he was too greedy and selfish.

I think, his choice is very bad and will only affect the market to fall deeper.

[Emilyp]

It's one of the things I'm still surprised many bitcoiners don't understand, you don't cripple fiat and expect bitcoin to rise as replacement. It's not just possible, think about the world population, then how much bitcoin is out there and how many people can actually get their hands on it?

[Indrawan77]

Bitcoin supposed to be an alternative currency, bitcoin introduce a new payment system that makes the transaction become easier, its not supposed to make a threat to the fiat, and bitcoin is not meant to be a store of value, many people now become frustrated because they consider bitcoin as store of value and now the price keep on falling, bitcoin and fiat suppose to be working together to makes our lives become better