Murat
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October 14, 2019, 10:31:29 AM |
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When fiat money will face crisis then you have to also consider that the monetary system is not going well, There are a lot of reasons to make changed fiat money value such as Inflation, Increasing Import than Export, political unrest, Central bank has no control over money market, Share market Collapse and so on. So it's a usual scenario of the monetary system, we should not think that when people will lose the credibility to the conventional money then they will come to this cryptocurrency platform, it's a totally wrong conception. Until cryptocurrency is acceptable and well regulation basis, a large number of people will remain behind this platform, but it's true that Bitcoin and cryptocurrency is getting a place in comparison to previous year.
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NathanJB
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October 14, 2019, 12:43:16 PM |
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I would like to argue that it is indeed a possibility, but how are we to convince them that Bitcoin is better when the price of Bitcoin can also dive without any sort of warning or sign? And in addition to that, the price could only recover until two years later. Bitcoin is good in the longer term but for some people having their treasure lost 50% of its value is not good at all. Fiat is subject to inflation but it is somehow stable. Inflation is not like the dump of Bitcoin's price that would possibly reach as high as 50% in just a single day.
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bitbunnny
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October 14, 2019, 01:17:35 PM |
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It's just an phase in fiat currencies cycle but on long term they will not lose so much value that cryptocurrencies would become more important for people. We all love cryptocurrencies and respect their advantages but let's be realistic and admit that they will not replace fiat and they will not become more important than fiat currencies, that is the reality.
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Colt81
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October 14, 2019, 03:57:40 PM |
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I think it is impossible for fiat currency to lose it's worth or value because there are more people who uses fiat currency than people who uses bitcoin and gold. Even bitcoin and gold are valuable there are still a less chance for both of it to replace fiat currency because the government are the one's who maintains it's value.
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carter34
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October 14, 2019, 04:20:53 PM |
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Op you could be right that inflation is eating up goods and services but I don't think that is it making fiat lose its worth. Inflation can be controlled by the amount of fiat thrown or withdrawn from the system. I think that what is making fiat lose value is corruption. Corruption is one huge factor that makes society, fiat and the economic mechanism collapse because people pay leap services to what actions they are suppose to do, carry out.
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Bezobraznike
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October 14, 2019, 04:28:47 PM |
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Op you could be right that inflation is eating up goods and services but I don't think that is it making fiat lose its worth. Inflation can be controlled by the amount of fiat thrown or withdrawn from the system. I think that what is making fiat lose value is corruption. Corruption is one huge factor that makes society, fiat and the economic mechanism collapse because people pay leap services to what actions they are suppose to do, carry out.
Due inflation fiat lose it`s worth. What you could buy before with 1 dolllar now it cost couple dollars. Its like that everywhere, just take a look on prices 20 years ago and now, you can do it in any currency and you will have the similar results, in the end currencies are loosing value over the time.
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panganib999
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October 14, 2019, 04:54:29 PM |
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There are a lot of reasons to believe that the value of our fiat money is losing its real value. We have inflation eating into the worth of goods and services that our money can buy and although this can be controlled to a certain degree this can never be stopped nor eliminated from any economic system. Another major problem is the tendency of many central banks to just print more paper money (termed as quantitative easing which is nice to ears) and circulate them to the economy. Coupled with a high degree of economic and political uncertainties as well as lack of trust for the government, we can in an era uncharted and which repercussions can be felt in the coming years. In a recent interview with the Swiss newspaper NZZ a, Sonntag, Mr. Gruebel explained that negative interest rates are having an adverse effect on fiat currencies. “Negative interest rates are crazy,” he said, adding “That means money is not worth anything anymore.” Gruebel stated that as long as interest rates remain in place, the financial industry as a whole will continue to shrink. Last month, the European Central Bank (ECB) decided to cut interest rates to -0.5% and Marilyn Watson, global fundamental bond product strategy team head at Black Rock, explained that there is potential for interest rates to go more negative, especially in Europe and in Japan. Countries such as Venezuela or Argentina are registering very high inflation rates. While Venezuela is currently in a hyperinflationary spiral, Argentina could shortly follow Venezuela’s steps. Populist governments are printing money trying to convince their populations that owning more coloured papers would make them wealthier. This is where gold and Bitcoin (BTC) could eventually become important for society. Source. As the fiat money is losing its value, more and more people will realize that it is time to get into the Bitcoin bandwagon as a way to partially protect their wealth and investments. That time is coming soon. We who are the pioneers in cryptocurrency have many things to thank for that we are involved at the right time. Fiat only has value because the government said so and the investors agreed for it to have any value. Now that bitcoin and gold is emerging and has true value, people tend to patronize it more not only because of it's value but also because of the volatility and as for bitcoin, it's freedom from the grasp of the government that might control it just like what they are doing to traditional money. People are starting to see more potential and opportunity to make a profit out of gold and bitcoin making them leave fiat behind.
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Mometaskers
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October 14, 2019, 06:24:30 PM |
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Wouldn't get my hopes too high too soon. Yes it is depreciating but governments have plenty of tools at their disposal (including the army) to keep it afloat.
In the long run though, cryptos would find more and more usage. Just yesterday I was in a thread about UN accepting crypto donations. It's getting more and more adoption as months go by.
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Leyss
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October 15, 2019, 06:05:25 AM |
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As a rule, governments of various states put in their budgets several percent of inflation and it is believed that inflation within three percent even has a positive effect on the state economy. Of course, if governments do not organize the state’s economic activity well and spend more than they have state-wide profits, then inflation will increase uncontrollably. This is one of the main reasons for the rise in the price of gold, which does not know inflationary processes. However, I still do not see any global danger to the existence of fiat.
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kapalmabur
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October 15, 2019, 06:12:56 AM |
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As a rule, governments of various states put in their budgets several percent of inflation and it is believed that inflation within three percent even has a positive effect on the state economy. Of course, if governments do not organize the state’s economic activity well and spend more than they have state-wide profits, then inflation will increase uncontrollably. This is one of the main reasons for the rise in the price of gold, which does not know inflationary processes. However, I still do not see any global danger to the existence of fiat.
The government also now limits crypto currencies, whereas crypto currencies such as Bitcoin can help fiat money to always have value, fiat money will not lose its value I'm sure of that. who knows what the government is thinking now?, unlike Japan they use bitcoin and are friends with fiat money
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DaveWave
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October 15, 2019, 06:20:17 AM |
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Scarce resources will serve as good investments to counter inflation. Bitcoin, gold, real estate, silver and some selected altcoins. These are proven over time to have increase so much in value while fiats are becoming more and more worthless. Even stocks cannot be relied too.
In a gold vs bitcoin scenario the former is more stable on price movement but there are too many supplies coming as deposits are still widespread. Bitcoin is very limited in supply which makes it a better pick.
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supercanada1
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October 15, 2019, 06:51:22 PM |
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I think because at this time in the future there have been signs of using digital currencies so that bitcoin and other cryptocurrency are increasing because there will be many requests that will use digital currencies that will make transactions that prove to be more efficient and easier when you want to use them.
People are gradually relying too much on technology like they are wearing smart watches, living in smart houses, want to create smart cities etc. so the concept of blockchain technology or bitcoin is very intriguing for them. It would be so easy for them to handle all their transactions without heavy fees. Elite class will be soon seen dealing in bitcoin.
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1Referee
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October 15, 2019, 10:01:37 PM |
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Even stocks cannot be relied too.
US stocks are going through the biggest bull run mankind has ever witnessed. No other asset but Bitcoin has performed better than stocks in the last decade. If you held any traditional safe haven asset to counter inflation instead of US stocks or Bitcoin, you have done a very poor job. In a gold vs bitcoin scenario the former is more stable on price movement but there are too many supplies coming as deposits are still widespread. Bitcoin is very limited in supply which makes it a better pick.
A lot of Gold supply has been taken out of circulation this year because ETF's need to stock up on physical Gold to maintain their 1:1 backing. The demand for Gold ETF's has gone through the roof and there doesn't seem to be an end in sight. I'm pretty sure that as we speak, more Gold is being bought up than there is fresh Gold being mined. In other words, there is a shortage of physical Gold.
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exstasie
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October 15, 2019, 10:20:58 PM |
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Countries such as Venezuela or Argentina are registering very high inflation rates. While Venezuela is currently in a hyperinflationary spiral, Argentina could shortly follow Venezuela’s steps. Populist governments are printing money trying to convince their populations that owning more coloured papers would make them wealthier.
As the fiat money is losing its value, more and more people will realize that it is time to get into the Bitcoin bandwagon as a way to partially protect their wealth and investments. These are a couple isolated cases. This logic doesn't work in places where the fiat money is relatively stable, i.e. most of the world. If inflation is eating away savings at 2% year over year like in the US, people barely notice it, especially if wages are rising to compensate. This is also why Venezuelans are much more interested in USD than volatile assets like BTC. They want stability.
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Dhoe
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October 15, 2019, 11:22:55 PM |
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I see lately many people are starting to buy gold to protect their assets, they no longer want to save their fiat money in the bank, because they don't know about Bitcoin then they save it in gold. We still need to give people knowledge about Bitcoin so they can save their assets in Bitcoin.
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Periodik
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October 16, 2019, 02:11:48 AM |
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Fiat money losing its value is even wrong because fiat does not have any value at all in the first place. I am speaking of actual value. The fiat money that we are using is but a piece of paper or a piece of metal that is not valuable at all. It is only the governments and their gods which are the banks that create value for it, they themselves adjust the value, lowers the value, and so on. This is just all but a game by these people. Gold has real value by way of its natural limit and the preciousness of it that is assigned by the entire humanity. Bitcoin is on that path.
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strunberg
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October 16, 2019, 02:26:51 AM |
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Inflation be main reason why much people start switching their assets into bitcoin,gold or maybe property.saving in the bank only give small return,meanwhile year by year commodity price rise gradually.investing be good ways to keep our money value and even add it.gold and property be good portofolio before bitcoin occur in the world.bitcoin could alternative portofolio that will give bigger return.
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btc_angela
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October 16, 2019, 03:48:23 AM |
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If you see, we might be heading towards a global recession.
That's what people keep saying around here, and it's probably because its been a while since we've had one. That doesn't mean one is coming. You're right, just because we haven't had one in a long time, that doesn't mean we will have one coming soon. However, the recent trade wars between US and China along with other negative global economic news seem like big indicators that allude to it. I do seriously hope that a recession doesn't occur again because many people will suffer and i look forward to cryptocurrencies becoming the light and solution against such economic crises. But at least people should prepare for it as this might be one of the worst recessions ever. Did we see the forthcoming recessions in 2008? Lehman Brother's collapse was one of the catalyst that time, but we didn't see it coming and the next coming years proved how big it was. So I guess its time, to learn from it, and hedge our wealth, if we have to crypto specially bitcoin.
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Ridwan Fauzi
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October 16, 2019, 03:51:15 AM |
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I don't even thinking fiat money will be lose its worth and even I'm not agree if that fiat money lose its worth/value just because many people tend to use cryptocurrency in their daily lives. As you mas know, we can use cryptocurrency just throught money fiat because I'll bet just a few people out there who use/sold their assets to be use cryptocurrency, their intentions just use them as an investment place.
Other than that since cryptocurrency is decentralized system then we can't use them in our daily lives. We still have government which fully have regulation and also they have a right to make a decision between ban and accept. I just guessing you have such this think just because there is some information who stated some problem who comes to economic state, war trade and other problem which can make the fiat money goes deacreasing and however I still have a thinking that is far if we connected into cryptocurrency.
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nasipadang
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October 16, 2019, 04:25:47 AM |
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You're right inflation makes gold and crypto brighter, but for cryptocurrency fluctuations it becomes a problem later and not much different from FIAT inflation. Talking about inflation makes FIAT useless, if inflation is not controlled with interest rates, the FIAT value is low. And printing uncontrolled money with the country's low economic situation, the currency of Zimbabwe for example. I lack of some informations about the economy in other countries and the existence of inflation, some opinions are due to natural resources and unlimited desire.
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