Do you ever wonders why we are using this paper as money?

[Findingnemo]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

[lelylely]

That's because paper currency are believed to have value and are also legitimate by the government, so paper currency can be used to buy all your needs. Not because of the paper, but because of the approval from the government and also a belief that it has value.

[bitChipper]

I have found that most people are uninformed about how fiat money really works, it's astonishing how many people still believe that fiat money is backed by gold.

I am from the USA and I have found that there is a strong (albeit delusional) belief in the dollar, especially from the baby boomer generation who has experienced mostly economic prosperity throughout their entire lives. Nothing against them or anything..I am not a millennial so don't hate me!

In my opinion once someone understands how crypto-currencies are digitally scarce it changes their entire outlook on all money and the light bulb goes off in their head.

[charlotte04]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

Simple, it was ever brought by our ancestors to believe that it has value to it and then they decided to use it for their currency to use and they all agree with it.

[yitzjoe]

I just smile when some people boast of paper where they are easily damaged, torn, and for sure they are easily faked. whereas crypto will never be faked and won't break, that's all

[yfan2010]

There are many shortcomings of paper money and many stories of conspiracy from paper money, but clearly money and currencies are very different, I also don't understand whether crypto is including money or currency.

[dothebeats]

Well for one, we are bound to a certain country that issued a certain currency that is widely used by people. Also, we receive several services and privileges from the said government, too, and by that means they can issue money out of paper and a few metals and tell us that it's worth something since we benefit from it. Because we are bound by laws to use and treat the paper with a certain value, we cannot break it as long as we're under a certain country. The thing is, people unconsciously agree that something is worth something if a person with authority or greater knowledge says so. Accept it or not, we are being controlled by our own governments just by using their issued currency and making us believe that it is really worth something.

[MichaelOwen]

When I was young, I often asked myself why people use paper money, things we hold are nothing more than ordinary paper. And bitcoin, though they have no value in artifacts, they also have a lot of value

[Findingnemo]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

Simple, it was ever brought by our ancestors to believe that it has value to it and then they decided to use it for their currency to use and they all agree with it.

But before the currency was backed by gold or something valueable but now it is made up of nothing,just those governments were printing more money every year based on their need which is the reason why we are in inflation now.

The thing is, people unconsciously agree that something is worth something if a person with authority or greater knowledge says so. Accept it or not, we are being controlled by our own governments just by using their issued currency and making us believe that it is really worth something.

Which literally means we are just slaves to our governments of they say some paper has value we need to follow them.Then why not we agree bitcoin too have value.This the thing what people need to know.

[cryptocrusher]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

Paper currency was not originally meaningless, gold used to be the currency and then people realised instead of transacting with gold they could just have paper slips which were redeemable at a bank for gold, that's where paper money was born from. Now the value is attributed based on the belief of banks and the government to maintain that value and honour it. If the people lose that belief we see hyper inflation like we've seen in Argentina, Venezuela etc.

[Reinz12]

That's because paper currency are believed to have value and are also legitimate by the government, so paper currency can be used to buy all your needs. Not because of the paper, but because of the approval from the government and also a belief that it has value.

I agree. A paper will not be valuable if guaranteed by the government as a legitimate currency paper that is permitted to circulate, and to make it authenticated that the paper is guaranteed by the government, they provide special signs that cannot be or are difficult to fake

[Rustamm]

I have found that most people are uninformed about how fiat money really works, it's astonishing how many people still believe that fiat money is backed by gold.

I am from the USA and I have found that there is a strong (albeit delusional) belief in the dollar, especially from the baby boomer generation who has experienced mostly economic prosperity throughout their entire lives. Nothing against them or anything..I am not a millennial so don't hate me!

In my opinion once someone understands how crypto-currencies are digitally scarce it changes their entire outlook on all money and the light bulb goes off in their head.

This dollar in us is so special that it is not supported by gold and has no other property equivalent of value. In general, the economies of all normal states are built on the principle that paper money at face value is issued for the sum of gross national product, that is, the value of all material values ​​in the state and its gold and foreign exchange reserves. Over the year, the state has the right to print as much money as GDP has increased, that is, gross national product.
Cryptocurrency can not work on this principle, so it can never replace the national money of the states.

[hero1111]

Yes I wonder it and I thought about it a lot and it was just paper and People excepted it for a precious commodity and use it for to buy something and I think it is not the modern way to use paper money in this century cryptocurrency can be modern money for this century.

[Koadharber]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

Then what would you gonna like to propose? on what we would use up? Those papers or coins is already being used up since the beginning of time after on using up those bartered items.It seems you do really need to read up more about Fiat money history. We might oppose on the other means but i dont see any options that we would use up and easily replace fiat currency.

[InterPlanetaryGallery]

Re: Do you ever wonders why we are using this paper as money?

not until we play the mining game with Bitcoin and Ethereum

[the13thsymphony]

Fiat money like coins or paper money is a symbolism that represents the status or a person and their country in my opinion. Also it dies have the same way of getting its value just like gold, silver, diamonds and even cryptocurrency and that is by us the people or market putting value in it.

[1Referee]

Which literally means we are just slaves to our governments of they say some paper has value we need to follow them.Then why not we agree bitcoin too have value.This the thing what people need to know.

Like it or not, fiat has value as long as we accept it as form of payment, regardless of how much of a slave we are to our governments.

I accept it as form of payment, and so do billions of others. Do you think even 1% of the billions of people using fiat think of it as if they are using a currency that's forced upon them by their government? They use it because it's convenient, enjoys near 100% acceptance, allows them to enjoy buyers protection, etc.

Most people here gladly accept Bitcoin if you want to buy stuff from them, which means that Bitcoin enjoys just as much value as fiat, and maybe even more in some fields.

[Allura74]

Fiat money like coins or paper money is a symbolism that represents the status or a person and their country in my opinion. Also it dies have the same way of getting its value just like gold, silver, diamonds and even cryptocurrency and that is by us the people or market putting value in it.

Yes, a paper money that every country has its own is the traditional monetary system and it has a market value among the all fiat currency on the entire world, and on this digital world the people sees that electronics money is a convinient way of making payments so it was accepted by many and crypto currency will digitalized all the fiat and traditional way that we have now for the new generations.

[tenakha]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

Very simple, because our government decided to do this. We are not on our own and we are subject to our authority(i have never wanted to be on our own). We have to follow the rules that they create, if not, humanity cannot live much. And the method of payment was accepted paper money. If you transfer this to people, everyone creates a distinctive type of money.

[timerland]

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

I actually just watched a few videos where some people labelled bitcoin as ponzis.

Honestly, I think that they're confusing a ponzi scheme and a bubble. Bitcoin's prices were sky high last year and obviously retrospectively was in a bubble, but this doesn't mean that bitcoin is a ponzi scheme simply because of that.

I don't know why certain individuals would rather believe in something centralized that can be completely manipulated and destroyed by the government or the central bank (just look at Venezuela as an example), rather than a currency that is decentralized and with a limited supply in bitcoin. Makes no sense to me.