Just a friendly reminder....

[coin-investor]

...that your everyday money is toy money printed by bankers, for bankers.

Your entire professional existence revolves around getting paid in a little green token that bankers can print for themselves freely.

We are finally realizing this because we do not have a good option back then, but now that we had cryptocurrency and decentralization, we have realized we are in bondage to this paper money and they control us because we have no better option, finally we are freed from this bondage.

[alyssa85]

So how can a cryptocurrency like bitcoin help in making economy and life of people better? Fiat, whatever the reasons, is still convenience to use these days and it is still the main chrrency that drives every nation's economy. Fiat and banks will continue to exist as long as the people need it will take time before cryptocurrency will eventually replace it.

It helps as a store of wealth, not as a currency. Say you had $50,000 in US dollar bills and $50,000 worth of bitcoin. Which would you spend first? the dollar bills of course. The bitcoin will be kept back for emergencies as it stores it's value better.

[yusupjatigumilar]

Yes, that is the case, money is printed continuously without any limit on the maximum amount of printing, it is different with bitcoin which already has rules from the start that the bitcoin is limited in number, from time to time the number of bitcoins decreases until there is no bitcoin that can be created. This of course will be very potential if we choose bitcoin for us to invest in the long term.

[deisik]

So how can a cryptocurrency like bitcoin help in making economy and life of people better? Fiat, whatever the reasons, is still convenience to use these days and it is still the main chrrency that drives every nation's economy. Fiat and banks will continue to exist as long as the people need it will take time before cryptocurrency will eventually replace it.

It helps as a store of wealth, not as a currency. Say you had $50,000 in US dollar bills and $50,000 worth of bitcoin. Which would you spend first? the dollar bills of course. The bitcoin will be kept back for emergencies as it stores it's value better

Well, that is in fact an open question

I don't argue that most of us (me included) would keep our precious coins to ourselves at all costs but that's not particularly because Bitcoin is a better store of value (if at all). I'm more inclined to think that our saving behavior is rather warranted by future profits that Bitcoin is capable of providing. In other words, we don't think of Bitcoin as money (which we should spend) but rather as a profit-generating asset. No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)

[NeuroticFish]

So how can a cryptocurrency like bitcoin help in making economy and life of people better? Fiat, whatever the reasons, is still convenience to use these days and it is still the main chrrency that drives every nation's economy. Fiat and banks will continue to exist as long as the people need it will take time before cryptocurrency will eventually replace it.

It helps as a store of wealth, not as a currency. Say you had $50,000 in US dollar bills and $50,000 worth of bitcoin. Which would you spend first? the dollar bills of course. The bitcoin will be kept back for emergencies as it stores it's value better

Well, that is in fact an open question

I don't argue that most of us (me included) would keep our precious coins to ourselves at all costs but that's not particularly because Bitcoin is a better store of value (if at all). I'm more inclined to think that our saving behavior is rather warranted by future profits that Bitcoin is capable of providing. In other words, we don't think of Bitcoin as money (which we should spend) but rather as a profit-generating asset. No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)

I beg to differ.
Bitcoin also helps the economy as a coin. You can earn it, you can spend it (yeah, usually have to convert it to fiat at exchanges first), you can transfer it easy, cheap and fast anywhere in the world.
If a business on the other half of the world needs liquidity, the easiest and fastest way to provide is through Bitcoin.

Yes, it's a store of value too, but "No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)" is a bit extreme. I usually advise for moderation. In holding and also in spending. I think that keeping your assets without spending, without enjoying your earnings, is rather insane. So I advocate something like hold some, spend some.

[deisik]

Yes, it's a store of value too, but "No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)" is a bit extreme. I usually advise for moderation. In holding and also in spending. I think that keeping your assets without spending, without enjoying your earnings, is rather insane. So I advocate something like hold some, spend some

It seems that you miss the context

It is not about holding versus spending bitcoins as such. The question is about choosing between what to spend if presented with a choice. Obviously, the total majority of people involved in crypto would choose to spend dollars (or whatever) instead of spending bitcoins if they have that option. This is a rational choice, that's basically why no one is going to part with their dear coins unless they have to. Other than that, you would indeed sell some of your assets, be it stocks, bonds, or coins (or even gold) in case you need cash, but that's not the point. Also, you spend profits obtained with your assets, not the assets themselves (read, you can enjoy your earnings fully)

[NeuroticFish]

It is not about holding versus spending bitcoins as such. The question is about choosing between what to spend if presented with a choice. Obviously, the total majority of people involved in crypto would choose to spend dollars (or whatever) instead of spending bitcoins if they have that option. This is a rational choice, that's basically why no one is going to part with their dear coins unless they have to. Other than that, you would indeed sell some of your assets, be it stocks, bonds, or coins (or even gold) in case you need cash, but that's not the point. Also, you spend profits obtained with your assets, not the assets themselves (read, you can enjoy your earnings fully)

This is something I agree with 100%. Paper money is.. paper (no matter what is printed on).

But I felt I had to come in because I've found the part "No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)" way too extreme.
Sorry if my explanation felt like out of context.

[deisik]

It is not about holding versus spending bitcoins as such. The question is about choosing between what to spend if presented with a choice. Obviously, the total majority of people involved in crypto would choose to spend dollars (or whatever) instead of spending bitcoins if they have that option. This is a rational choice, that's basically why no one is going to part with their dear coins unless they have to. Other than that, you would indeed sell some of your assets, be it stocks, bonds, or coins (or even gold) in case you need cash, but that's not the point. Also, you spend profits obtained with your assets, not the assets themselves (read, you can enjoy your earnings fully)

This is something I agree with 100%. Paper money is.. paper (no matter what is printed on).

But I felt I had to come in because I've found the part "No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)" way too extreme.
Sorry if my explanation felt like out of context

This part can be universally applied in any context

Think of these assets as your capital, i.e. something you earn money with. For example, if you are a carpenter, that will be your toolbox (e.g. a hammer or an axe). Obviously, they are the last thing you are going to sell, and selling them will be a downright irrational decision unless you have very good reasons to (e.g. in emergencies). The same is equally applicable to Bitcoin and other cryptoassets with which people are earning a living. And from this perspective and in this context specifically, selling them for the purpose of reckless spending would be a waste of capital and bordering right on the insane

[Thanasis]

Yes, that is the case, money is printed continuously without any limit on the maximum amount of printing, it is different with bitcoin which already has rules from the start that the bitcoin is limited in number, from time to time the number of bitcoins decreases until there is no bitcoin that can be created. This of course will be very potential if we choose bitcoin for us to invest in the long term.

Both have changes in their value but the difference is bitcoin increasing its value whether the price of fiat loses its value every year.Money has also limitations but no transparency on it so only limited people know on what basis money were printed by banks and it also supported by government.

[smyslov]

That is one of the reasons why people and organizations are so attracted to Bitcoin, they do now have to answers to the authority, and the limited supply make out of control of inflation, people want freedom and decentralization and they can only get it by supporting and holding Bitcoin.

[BitBustah]

If everyone joined together and just stopped using fiat their system would collapse.  The thing is that money doesn't even matter.  We still still have the same amount of natural resources.  A truly advanced civilization would reach a point where they don't even have money.

[D3m1r4wanti]

If everyone joined together and just stopped using fiat their system would collapse.  The thing is that money doesn't even matter.  We still still have the same amount of natural resources.  A truly advanced civilization would reach a point where they don't even have money.

then what kind of advanced civilization? Do you think that one day the FIAT currency will no longer be used? in my prediction it is very unlikely, even though civilization has really advanced.

[sopanbmp]

very unfair! they print the money with infinite and then they Loan it to society who need it. if people can't pay it back this list must be happen :
1. Broken Household as divorce etc.
2. the Depression of the debtor until he get crazy or even suicide
3. Became Homeless. this is almost all the debtor will experience.
these are only sort of Negatif list because of the FED system.

you all know The Devil is real! FED is suck! Blockchain will replace it soon!

[maydna]

If everyone joined together and just stopped using fiat their system would collapse.  The thing is that money doesn't even matter.  We still still have the same amount of natural resources.  A truly advanced civilization would reach a point where they don't even have money.

then what kind of advanced civilization? Do you think that one day the FIAT currency will no longer be used? in my prediction it is very unlikely, even though civilization has really advanced.

I think we will see the advanced of civilization soon and I think we already see it now. If you compare between with what happens in 100 years ago and now, you will see a big difference, and I would say that we are lived in the advanced of civilization which much new technology was invented.

I am not sure if the FIAT currency will not be used again in the future, but that could be possible if, in one country, they don't have a raw source to create the paper for print the fiat currency. You can imagine if our world will become like what we watch in the movie.