Fiat = real money, Bitcoin = crap According to Kevin O'Leary

[pixie85]

Is he some kind of an oracle or a wise man? He's just a businessman and not a very smart one. How many times did he say a project presented in the shark tank was bad and was wrong? Isn't it possible than a man who made so many mistakes isn't making one now?

He's going to be one of many who miss out on bitcoin. His loss.

[Kiefner]

Fiat money is real only in the sense that you can touch it. In other respects, bitcoin wins on many points. People who do not like bitcoin will always be and do not need to pay attention to them. The time will come and they will change their position.

[stfN2128]

Fiat money is real only in the sense that you can touch it. In other respects, bitcoin wins on many points. People who do not like bitcoin will always be and do not need to pay attention to them. The time will come and they will change their position.

true, for now you can touch your fiat money. we are getting prepared more and more to abolish cash. in the european countries lately the 500€ note was abolished because of preventing terrorism financing and money laundering... yeah for sure.

[7788bitcoin]

According to Kevin O'Leary
This man is delusional.

He is a television personality as well and he likes to be in the news.

One reason I like bitcoin more than fiat is because of distribution. (all though fair distribution though time/duration will replace bitcoin mark my words or will be traded into bitcoin)

I am not sure whether you can call it a fair distribution if you are late into the bitcoin market, the earlier miners had the advantage when no one knew about it which is not a fair distribution as per logic but then even the earlier ones took it as a fun time pass powering a network and earlier miners accumulated a huge stack of coins just by mining with their laptop, So evenly distribution is a debatable topic  .

Another reason I like bitcoin is because you can`t just create it, it is like gold you need to mine it. (you know gold that thing that used to back our money)
What are your thoughts? Is fiat money more real than bitcoin?

This is the best feature of bitcoin as there is a limited number of coins and no one can duplicate it or get them from thin air like the fiat currencies do, gold standard is not practiced anywhere in the world right now and it is just a promise and you have valuation holding your fiat currency by the government.

Bitcoin is more real than fiat money simply because if you hold bitcoin and you own it if you are holding the private key, but fiat currency cannot be said like that, if your government says that the fiat currency you are holding is worthless and you have to exchange that with a new design currency then your old promise is breached, so you know how long these promises can go  .

[Leonardo7]

Everyone is entitled to their opinion, that certainly is not a guarantee that their opinion is true, time will have to prove them wrong by undeniable evidence. A few years from now, Kevin O'Leary will change his stands about bitcoin.

[Slow death]

What are your thoughts? Is fiat money more real than bitcoin?

this is a subject that has been discussed for a long time and it is a waste of time to discuss this. see, bitcoin is used to buy things, and this is already very good and in the future many countries will accept bitcoin as a means of payment, Fiat is also used as a means of payments... I do not see reason to make comparisons.

PS: this guy " Kevin O'Leary " is a person who seems to be jealous of bitcoin, months ago he said this:

Bitcoin Is Garbage, a Useless Currency

but he is wrong. there are thousands of people around the world who use bitcoin

[Koobtcgal]

Both of them are real as we all know in the real world and crypto world. In the real world, fiat is real and gold or crypto is our way to store the real money into something that can be changed back to the physical cash we hold in our daily lives. There is no need to find some discrepancies between these currencies. Let;'s use them the way they are.

[Indrawan77]

For me bitcoin is money because I can spend it to buy something, and bitcoin is better than fiat, bitcoin is not affected by the inflation and can't be control, for now maybe the spending is a bit difficult but when the legality and the mass adoption is implemented, I think people will prefer bitcoin

[jak3]

its true the faint is backed by fake money, most people are aware that banks created fake volume in the real world and printed these paper notes. and it is also true that bitcoin has fixed number of total bitcoins in the network that can be mined and it is a digital product so maybe today it is impossible to modify or break but in future it will become weak. so both systems have pros and cons but cryptocurrencies are much more suitable for current economical balance.

[DreamStage]

First of all your distribution is called decentralized which means that is not controlled by a single identity or person but everyone that possesses such are the owners.
Second is that mining is in fact creating it. An algorithm capable of mining is actually creating a bitcoin (satoshi) etc.

Anyway you are talking about a guy that has no sort of knowledge concerning the capabilities of bitcoin.
If suddently some of his favourite shop decides to just use Bitcoin as a payment method he is basically fucked because he thinks it's garbage....

So no, fiat is not more than Bitcoin. Bitcoin is just a way for you to use your fiat as a virtual good.

[Herbet Fry]

A hurdle I have sometime found in both online and offline discussions, is that people think bitcoin isn't "real" because you can't see it or hold it like you can with cash. The old meme of bitcoin being "magic internet money" still very much holds true in some people's mind.

Regarding O'Leary, he heads a variety of fiat based companies bearing his name, including mutual funds, investment funds, venture capitalists, stocks, shares, ETFs, etc. As always, people heavily dependent on the fiat banking and investment structure for their own wealth will oppose anything which seeks to challenge that structure.

But crypto is magic internet money.   I print it out on my magic internet printer. Once my POS tokens break even its all profits baby!! I wanna go out?? Ohhh spend todays stake??? Need to pay netflix?? Use the stake.
Then paying for it with crypto as well. You can't see the internet but we know it's there. Everything is virtual. I can't remember the last time I bought a physical game it was so long ago. You just pay and download now.