The middle ground for all skeptics and enthusiasts

[muratsink]

in life. we need an innovation. included in the transaction. 60% of the public has a large demand for crypto and BTC, and 40% are primitive people. fiat makes us saturated. fiat always get a bad influence from inflation and the global crisis. gold is increasing slowly. I think gold is not efficient as a transaction tool. but BTC and crypto have great hopes of taking control of it all in the future.

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[Nadziratel]

I saw a lot of skeptics of BTC and crypto in real life, and lots of enthusiasts who see crypto world through rose-coloured glasses. I must admit personally I am leaning towards skeptics, I surely believe that future economic relations will change thanks to what BTC already did, but all those who say again and again"BTC is future, fiat will die" just do not understand what they are talking about simply misunderstanding what experts want to say.

Here is an article, which I believe provide middle grounds for both sides and would be useful for everyone here, in case you missed.
https://www.nytimes.com/2019/04/23/technology/bitcoin-tulip-mania-internet.html

I never believed that claims which about FIAT will die soon. It will continue to be used for many years. But, it is highly possible to use cryptocurrencies mostly. Because globalization needs that.

[Cacingkemi]

BTC indeed the future but FIAT will not die that's what I believe it, naturally people are skeptics cause maybe they see prices is fluctuate. I read articles about BTC used by cyber crime and I apologize that the article is not useful for me crime can occur anywhere I think that fiat and  gold can also be associated with it.

[aliceHortrex]

I also think that Fiat will continue to work in ordinary society.  Yes, some majors will move over time to Bitcoin.  But the bulk will remain.

[PlasmaBit]

BTC indeed the future but FIAT will not die that's what I believe it, naturally people are skeptics cause maybe they see prices is fluctuate. I read articles about BTC used by cyber crime and I apologize that the article is not useful for me crime can occur anywhere I think that fiat and  gold can also be associated with it.

Yes, but transferring BTC is much simpler the moving around a pile of cash or bits of gold, don't even mentioning doing it internationally. It is not about what "could" be associated with it but "is" associated already. And we can not really move forward with the adoption of crypto while it is associated with out of sight money transfers and simply scam projects.

[squatter]

bail-ins and bail-outs or outright currency collapses

Well there have been more than a couple of those throughout history, but it seems that the greater public still isn't very conscious of the risks associated with putting all their eggs in the fiat basket. It would indeed be pretty huge for Bitcoin if they start to learn though.

People tend not to learn from history. If it didn't happen to them in their lifetime, they don't see it as a threat. Since the post-Bretton Woods (modern fiat) system came to be, we've only seen minor, localized currency failures.

After the stock market crashed in 1929 and subsequent bank failures, we saw a big inflow into gold. People started hoarding it because they distrusted financial institutions so much. They didn't have bitcoins back then, and we're already seeing the seeds of that distrust of banks today. Imagine what would happen if we started seeing crises in the major reserve currencies.

[DreamStage]

With more knowledge we are able to determine and free think on what goes ahead of our futures.
We understand more and more about the current situation thus make ourselves pleasent in observing those skeptics and enthusiasts.

[MakeMoneyBtc]

In my opinion:

Bitcoin -> Primarily -> Currency
           -> Secondarily - > Investment asset

I'm not sure if that's going to work, especially with this high volatility that bitcoin is showing. Some currencies like USG or GBP are also used as an investment asset by some people but if you check it their prices never fluctuate so much during a year as bitcoin price does. And I don't know if there is anything we can do to resolve this issue because most people involved in cryptocurrencies right now are aiming for profits not mass adoption.

[magneto]

I saw a lot of skeptics of BTC and crypto in real life, and lots of enthusiasts who see crypto world through rose-coloured glasses. I must admit personally I am leaning towards skeptics, I surely believe that future economic relations will change thanks to what BTC already did, but all those who say again and again"BTC is future, fiat will die" just do not understand what they are talking about simply misunderstanding what experts want to say.

Here is an article, which I believe provide middle grounds for both sides and would be useful for everyone here, in case you missed.
https://www.nytimes.com/2019/04/23/technology/bitcoin-tulip-mania-internet.html

It's sort of the old narrative of the gold bug versus people who blindly believe in fiat.

The situation is somewhat similar when it comes to bitcoin. There are certain people that are going to be permabulls no matter what happens, and I think that is completely irresponsible given their complete lack of acknowledgement for obvious market trends and cycles.

But then there are also people who discredit bitcoin based off solely a bear market, or a crash - which is sort of the opposite end of the spectrum here.

The important concept to understand is that price =/= value/utility of the bitcoin network. A crash in value of bitcoin due to swinging market sentiments doesn't mean that all of a sudden, the utility of bitcoin drops significantly.

[traderethereum]

I never think about people who are a skeptic with bitcoin because if they don't want to open mind for a new change, they will not take a benefit from that.
I don't think fiat will die but I hope that fiat and bitcoin can work together to fills our needs and can help us to make a better life.

[jseverson]

-snip-

After the stock market crashed in 1929 and subsequent bank failures, we saw a big inflow into gold. People started hoarding it because they distrusted financial institutions so much. They didn't have bitcoins back then, and we're already seeing the seeds of that distrust of banks today. Imagine what would happen if we started seeing crises in the major reserve currencies.

Lol yeah you'd think what's currently happening in Venezuela would spook a few people. I suppose it still boils down to risk management for most, but you can never be too safe. It's crazy how a big part of Bitcoin's success hinges on the failure of traditional finance though. I mean, I don't want that to happen, but I guess being resistant to that inevitability is the whole point.

[rysea2]

In my opinion:

Bitcoin -> Primarily -> Currency
           -> Secondarily - > Investment asset

Majority of the world have a reverse point of view here which is the main problem which needs to reversed through adoption rates going upwards with time thanks to technological developments(LN fully ready etc).

That's right, Bitcoin might only be for investment and I also don't expect that in the future fiat will die (or maybe it will never happen) because fiat is already known and will also be very difficult if there is no fiat between countries countries in the world because each currency will have a different value.

[Eildosa]

Before I was fully sure that the crypto will replace fiat money. But now I understand that this is unlikely to happen, because it is not feasible. I believe that digital money will be actively used together with fiat.

[Irvinn]

In this forum, I meet more thoughtless optimists who repeat words after others that Bitcoin and another cryptocurrency will be able to completely replace paper money, banks and other financial institutions without even understanding the essence of what was said. This will never happen because the cryptocurrency is simply not capable of it. Cryptocurrency, of course, will greatly change the financial relations in society, however, in my opinion, it will be mainly a means of payment for citizens and part of the trade market. What will happen to the cryptocurrency further is difficult to predict.