The Great View of History

[kaya11]

Why do so many people think that crypto will replace FIAT in the future even when its adoption rates are so low at the moment? This will never happen since FIAT will always be the primary money source despite its disadvantages which you mentioned.

Bitcoin was always meant to serve as an alternate payment method and nothing else in this case.

He was talking about the adoption on the future, later on it will just happen and that's the fact that we can't deny. If we see the current state of crpyto currencies it is developing and more people are adopting the technology. If you believe that all of this is a bubble and and meant to pop, then you are wrong. Think wisely, if those people who controls the world had an intention of stopping this technology then they could have done so with how much wealth and power they got right now, but still it remains and continues to grow, truly it is out of their reach.

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[Indamuck]

A certain system looks good on paper until you throw humans into the mix.  And to make matters worse the humans in power tend to be the most corrupt and ruthless.  Greed and power lust makes any type of system corrupted from its original plan.

[Febo]

I have been mixing political and financial history, yes.  The reason is that, at the most fundamental level, these are closely related and linked.  I will try to give more details in future.

China is a communist country. But they left socialism 40 years ago. Right now China is on many levels way more capitalistic liberal then Trumps America.  On the other part you have democratic Venezuela that is socialist.  So Communism is not Socialism and Democracy is not Capitalism. It can be in anyway as you can see with China and Venezuela.

[Best Dreams]

Why do so many people think that crypto will replace FIAT in the future even when its adoption rates are so low at the moment? This will never happen since FIAT will always be the primary money source despite its disadvantages which you mentioned.

Bitcoin was always meant to serve as an alternate payment method and nothing else in this case.

He was talking about the adoption on the future, later on it will just happen and that's the fact that we can't deny. If we see the current state of crpyto currencies it is developing and more people are adopting the technology. If you believe that all of this is a bubble and and meant to pop, then you are wrong. Think wisely, if those people who controls the world had an intention of stopping this technology then they could have done so with how much wealth and power they got right now, but still it remains and continues to grow, truly it is out of their reach.

It is state of crypto currency and we can see since long history we are making gradual progress in price, it is really an era of technologies and people are accepting it happily because crypto currency has good ability, according to the history of the crypto of currency it always grows with the passage of time.

[sheenshane]

Do not ever get me wrong and this is only a personal opinion. Is sound money objectively superior to fiat money? Yes or no?

For me, as of now, the cryptocurrency could be considered as a potential superior of fiat money. However, we will not be able to tell if it would really become a superior currency in the future since it was not yet adopted by everyone and would dramatically change in the future as well. What I am thinking about is that if the elite was able to control the currency then there's a big chance that they will also centralize the cryptocurrency ending up as the cryptocurrency becoming a central currency that is traded digitally.

[Adriano2010]

I also don't think bitcoin will replace fiat or banks, i think from now more time both will work togheter and who want can have both, because both have their role on an economy.

[leonair]

you can make something out of gold and silver than Fiat money that's only a paper but time has been changed and oligarchs made this paper moneys valuable over time and claiming that it's backed by gold or some other valuable tangible things. It's true that history will keep repeat itself with only a bit of innovation and change of terminology.

 

[BobK71]

I have been mixing political and financial history, yes.  The reason is that, at the most fundamental level, these are closely related and linked.  I will try to give more details in future.

China is a communist country. But they left socialism 40 years ago. Right now China is on many levels way more capitalistic liberal then Trumps America.  On the other part you have democratic Venezuela that is socialist.  So Communism is not Socialism and Democracy is not Capitalism. It can be in anyway as you can see with China and Venezuela.

Sure, but I was only looking at the big countries and blocs.  China is a big part of the triumph of 'capitalism' over socialism.

[alyssa85]

Why do so many people think that crypto will replace FIAT in the future even when its adoption rates are so low at the moment? This will never happen since FIAT will always be the primary money source despite its disadvantages which you mentioned.

Bitcoin was always meant to serve as an alternate payment method and nothing else in this case.

Bitcoin's adoption rates are low - but that is down to slow confirmations, a mempool backlog, rising fees when the mempool gets backed up.

Doesn't mean some other coin won't get traction. One is bound to make a breakthrough if there is a crisis and enough people start using it.

[BobK71]

Do not ever get me wrong and this is only a personal opinion. Is sound money objectively superior to fiat money? Yes or no?

For me, as of now, the cryptocurrency could be considered as a potential superior of fiat money. However, we will not be able to tell if it would really become a superior currency in the future since it was not yet adopted by everyone and would dramatically change in the future as well. What I am thinking about is that if the elite was able to control the currency then there's a big chance that they will also centralize the cryptocurrency ending up as the cryptocurrency becoming a central currency that is traded digitally.

In my opinion, yes, within the scope of the original post.

BTW, sound money can mean gold or Bitcoin, or any state-issued money based on them -- I didn't use it to mean only gold and silver based systems.