If Bitcoin is a get rich quick scheme, then fiat is a get poor slow scheme

[Yourhomeboy]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

[1714974501]

1714974501

[Kupid002]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

[Yourhomeboy]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

Sure the government cannot control Cryptocurrency but the Government is likely to Crash too

[mk4]

The tweet by Jameson Lopp that OP is referring to: https://twitter.com/lopp/status/1171847107243859968?lang=en

I'm not really sure what you mean by the government and the people "crashing", but I disagree with your other statements. Fiat is still a better currency to use for businesses simply because of the stable value of the USD(compared to BTC at least), and because fiat is still far easier to use than cryptocurrencies in general.

Also, as a long term bitcoin bull, you don't really expect the current fiat system to be replaced by bitcoin "soon". It will definitely take a while. Bitcoin isn't even ready yet to use for-payments.

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

If the winning cryptocurrency would be a cryptocurrency that the government can control, then what's the point of replacing the current fiat system in the first place? One of the main reasons bitcoin exists(along with most cryptocurrencies) is to have a currency that not a single central entity can control it.

[gentlemand]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

Governmentcoin will be fully digitised fiat. There won't be any difference in its fundamental nature, only its implementation. Their absolute control over it, and you, will make it more worthless with greater rapidity and make a stronger than ever case for Bitcoin.

[Shenzou]

The problem with the current system is that you are forced to go with what it tells you to do, government will never accept bitcoin or any other cryptoucrrency because they have no control over it, they are unable to monitor the flow of the transactions like from who are coming from and to who are going to because it is decentrelized, sure the fiat system might at some point fall but it would be replaced by another system maybe a crypto that is made by government that they control, and the people would have to use it even if they don't want to because you need to to be able to survive in a society controlled by the system.

[DabsPoorVersion]

The tweet by Jameson Lopp that OP is referring to: https://twitter.com/lopp/status/1171847107243859968?lang=en

I'm not really sure what you mean by the government and the people "crashing", but I disagree with your other statements. Fiat is still a better currency to use for businesses simply because of the stable value of the USD(compared to BTC at least), and because fiat is still far easier to use than cryptocurrencies in general.

Also, as a long term bitcoin bull, you don't really expect the current fiat system to be replaced by bitcoin "soon". It will definitely take a while. Bitcoin isn't even ready yet to use for-payments.

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

If the winning cryptocurrency would be a cryptocurrency that the government can control, then what's the point of replacing the current fiat system in the first place? One of the main reasons bitcoin exists(along with most cryptocurrencies) is to have a currency that not a single central entity can control it.

It is like we're just moving forward towards the trend of technology. If the government will have its own crypto to be used by every individual, it has no difference between fiat currency. Centralization will only lead the point of having decentralization to waste if we still get to used the same process as we have on fiat.

[davis196]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

Sure the government cannot control Cryptocurrency but the Government is likely to Crash too

Really?So you are saying that no government can't control crypto mining and trading?
What if USA and EU ban crypto mining and trading?What happens then?

[mitchr4]

The tweet has nothing to do with Fiat. I think Op is misinterpreting that, it should be Bitcoin a slow scheme not to be poor.

[gentlemand]

Really?So you are saying that no government can't control crypto mining and trading?
What if USA and EU ban crypto mining and trading?What happens then?

It floats off elsewhere? There's a big old world out there with a few billion more people many of whom have little interest in what Europe or America think. And people in those countries will continue P2P.

[TIDOVEE]

The relationship between bitcoin and Fiat is so defined that it cannot be argued soon. Well, anyone that calls it a "get quick scheme" has an idea, because it actually has a character of making one rich. But it should not be mistaken for ponzi scheme. Because Ponzi schemes is a scam. Mind you this had not make Fiat a get poor slow scheme. Fiat is just on it's own has a simple medium of exchange.

[Diirtmaan]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

The main problem of replacing fiat with Bitcoin is the resistance of the government. Just understand that Bitcoin does not give power since it can not be controlled like fiat. That's why it's so hard to switch to digital money.

[sunsilk]

The gov't won't crash but its economic and currency can crash through crisis and hyper inflation. You can see an example with Venezuela, the country is on hyper inflation and fiat there is mostly nothing. With the interview that I've watched about the situation of citizens there, your one month salary is enough for only one-snack meal.

Fiat will be replaced soon by bitcoin.

Before, I think it's a yes but as time passes by, governments are starting to go full crypto now so how it can replace fiat if the gov't itself will use that idea to digitalized local currencies that we use?

[Kupid002]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

The main problem of replacing fiat with Bitcoin is the resistance of the government. Just understand that Bitcoin does not give power since it can not be controlled like fiat. That's why it's so hard to switch to digital money.

Government is the real problem why its harder to make it happen . They do not want a money that they cant control and if they see it as a threat they can easily ban it in thier country so no one would buy and stored that currency.

[mitchr4]

Government is the real problem why its harder to make it happen . They do not want a money that they cant control and if they see it as a threat they can easily ban it in thier country so no one would buy and stored that currency.

That's what the government is for, they have the authority to do that if they see a threat. But there are some countries also have other views as an advantage so in fact, it is only a matter of time how the government can get positive education about Bitcoin in order to develop Bitcoin in their government.

[Duzter]

Bitcoin isn't a quick rich scheme. In my experience it is a quick rich scheme for very few users who are lucky to earn big out of the investment in a very short. Looking upon the profit earned by that few we can't believe this to be a quick rich scheme. Such a misunderstanding is the reason for people to fall on traps. Whether it is cryptocurrency or fiat when used with perfect plans and good learning about the market it'll be profiting someday.

[Tipstar]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Good point there. But there are also many other metrics and value that are independent and the value are generally compared among a wide range of such metrics. For example the price of Gold or the oil. The price of gold compared to fiat is relatively stable than crypto. Crypto is even much volatile on comparing other unrelated pairs as copper/oil is more Stabler than bitcoin/oil or copper/bitcoin. There's no much use of insulting fiat.

[Fappanu]

There is a lot of online revenue due to bitcoin but that doesn't mean bitcoin will replace the fiat currency,

There is a lot to do in order for bitcoin to replace fiat, such as awareness, adoption, accepting and of course its own internet and mobile phones.

And I think it is hard to accomplish.

[Fatunad]

Fiat will be replaced soon by bitcoin.

Share your thoughts

Not so soon my friend. Fiat currency cannot be easily be replaced with btc as you can see not of all of the nations have fully accepted cryptocurrency as an option of payment. I dont even see that happening while we're still existing in this world. Both could co exist but replacing fiat is almost impossible. Lets be real.

[Mulann2]

If BTCtc was a get rich quick scheme then i should be rich by now and stop being a hunter, have enough money to travel the world however it is not or at least not for me yet, or maybe if i had taken advantage of 2017 the way some people did, i would be rich by now,
so even if BTCtc was a get rich quick scheme back in 2017 things have change now, patience plays a big role now.

[kryptoklerk]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

I think it must be BTC, the main crypto!!!

[Gotumoot]

You should also consider possible problems in the future if bitcoin replaces crypto immediately,

I'm sure this will create havoc especially for people who are unfamiliar with bitcoin and other altcoins. It has to be well thought out and I don't think it's time for bitcoin to replace fiat currency.

[kryptqnick]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

Sure the government cannot control Cryptocurrency but the Government is likely to Crash too

Really?So you are saying that no government can't control crypto mining and trading?
What if USA and EU ban crypto mining and trading?What happens then?

Best case scenario: people protest and the ban is lifted soon. Worst case scenario: the amount of miners decreases, the difficulty rate drops and those who are still in the game keep mining as if nothing happened.

Bitcoin isn't a quick rich scheme. In my experience it is a quick rich scheme for very few users who are lucky to earn big out of the investment in a very short. Looking upon the profit earned by that few we can't believe this to be a quick rich scheme. Such a misunderstanding is the reason for people to fall on traps. Whether it is cryptocurrency or fiat when used with perfect plans and good learning about the market it'll be profiting someday.

Well, if we interpret the name of the thread loosely, it's correct. Fiat is a 'get poor slow scheme', because of inflation that inevitably makes the value of fiat decrease (what's also called 'the hidden tax'). Bitcoin, on the other hand, is not susceptible to inflation and growing in value with time due to limited supply. So it is a 'get rich' scheme, kind of, and if you compare it with getting rich while investing in things like stock, it offers profits faster.

[mindrust]

Bitcoin is doing these big ups and down because we are still in its early days. That big roller coaster made lots of people rich beyond imagination and made lots of people poor (for now) sadly.

The FED, ECB, BoJ, BoE they all print money in exchange for what? Debt. I would say nothing but it is worse than nothing. In other words, they are printing debt, not money.

Money should be sound. Money should be limited supply. Bitcoin is the perfect money.

[Asuspawer09]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

I think bitcoin cannot replace fiat money as a currency use, in a lot of countries they are using fiat money but have a different value just like a pesos or a dollar,
in my opinion bitcoin cannot be the only currency in all over the world because different country has different standard other things might be cost or expensive in other country but not in other countries, maybe bitcoin is going to reply the fiat money but I don't think that fiat money is going to disappear if the bitcoin become a top currency I think fiat money is still in use.

[TRONTON]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

I think bitcoin cannot replace fiat money as a currency use, in a lot of countries they are using fiat money but have a different value just like a pesos or a dollar,
in my opinion bitcoin cannot be the only currency in all over the world because different country has different standard other things might be cost or expensive in other country but not in other countries, maybe bitcoin is going to reply the fiat money but I don't think that fiat money is going to disappear if the bitcoin become a top currency I think fiat money is still in use.

we have long been trapped in the understanding of the world economic caste, and it all started from the age of industrialization. If it's too complicated with that, we can take the equality of value held by gold as a comparison.

fiat will still exist, but it will become a more modern digital entity, and bitcoin will run on both more complex functions, but will still refer to the fiat value equation, because it is not possible to form stable prices on btc without active legal policies.

[Zemomtum]

Well, there might be another currency apart from the Bitcoin that will be universally accepted. Nowadays, Central Banks are looking into the blockchain deeply and planning to issue their own token. Who knows what the future will hold but we are just speculating. I will be glad though if it will be Bitcoin

[LUCKMCFLY]

~snip~

Everything is that Bitcoin represents a technology, apart from it is a deflationary economy, while the FIAT currency is a currency that is controlled, comes from an economy that has mostly its common denominator debt and tends to have inflation, is controlled by governments and Banks.

In the not too distant future there will be a migration to digital, and the US is considering the digital dollar, China is preparing everything for its launch of its own cryptocurrency, in addition Germany is joining the same trend.

But both economies can coexist, there is no problem, the only thing is that they always attack bitcoin and cryptocurrencies for the fact that they are not controlled, now they are taking some measures such as the KYC to decrease their privacy, and in some countries they placed taxes for crypto and it is not that Bitcon is a scheme for the rich, but that it is much more accessible than it is with the traditional economy managed by third parties.

[xiboothrezi]

I'm not really sure what you mean by the government and the people "crashing", but I disagree with your other statements. Fiat is still a better currency to use for businesses simply because of the stable value of the USD(compared to BTC at least), and because fiat is still far easier to use than cryptocurrencies in general.

Also, as a long term bitcoin bull, you don't really expect the current fiat system to be replaced by bitcoin "soon". It will definitely take a while. Bitcoin isn't even ready yet to use for-payments.

That's true, even though Bitcoin provides an opportunity to get a bigger profit than fiat, it really depends on each strategy. Fiat, although not as fast as bitcoin in providing benefits, has many advantages as well and is more effective in certain matters and easier to use by the general public. So, I prefer to use it in a balanced manner, taking advantage of each, complementing each other.

[gentlemand]

Bitcoin isn't a quick rich scheme. In my experience it is a quick rich scheme for very few users who are lucky to earn big out of the investment in a very short. Looking upon the profit earned by that few we can't believe this to be a quick rich scheme. Such a misunderstanding is the reason for people to fall on traps. Whether it is cryptocurrency or fiat when used with perfect plans and good learning about the market it'll be profiting someday.

The people who do arrive just before a bubble are almost always too dazzled to see it for what it is so don't ride it up and bugger off like the real pros. Then they have to sit there waiting for years. I'd say it's like a torture chamber with the prospect of escape just beyond one's grasp.

[BlackFor3st]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Right now fiat can be use by anyone whether you are poor, illiterate or pwd but if the time will come that crypto can serve this kind of service also then there is a possibility that crypto can replace fiat someday because everything will always depend to adoption and whether it can be use by anyone.

I cannot say that fiat is a type of scheme to make us poor or even Bitcoin is not a scheme to easily get rich. All will always depend on how you are going to adapt and make a living for it, without work you will not earn anything even the hackers need a lot of hard work to bypass their target.

[barabarian1]

bitcoin has opened up jobs for many people all over the world and has also created some new wealthy people. but I think even though bitcoin has provided many benefits for us holders. the government will not be able to directly replace their fiat currencies with bitcoin. because many things need to be prepared to replace fiat currency with bitcoin. and also our people are used to using fiat money so I think it's quite difficult for them to switch to using bitcoin. bitcoin is a fast way to get more fiat money. but in payment we will still rely on fiat money.

[Youghoor]

There are no specific ways or information with regard to the ways and methods cryptocurrencies are likely to used to replace the use of fiat currency. Each day and day out, people develop new crypto coins with no specific responsibilities for that particular coins and what exact problem the coin is gonna solve in entire financial ecosystem. This strongly shows that the entire  cryptocurrency space  do not have any specific goal towards improving the financial ecosystem.  

If Bitcoin is a get rich quick scheme, then fiat is a get poor slow scheme

why should you make this assumption in the first place? The only different between Bitcoin and fiat is the system used in their mode of transactions. Apart from this, there are no significant differences between Bitcoin and Fiat.  People don't really understand the brain behind the creation of Bitcoin and cryptocurrency in general. Once there is lack of understanding, people will also create this kinda post on this forum.

[maydna]

When people know that they can search for the opportunity through the internet and they did find that job and make money. They would not do business in real-life if they discovered that they could make a lot of money from the internet. But they will still use fiat to buy something or to fill their daily needs until bitcoin or whatever it called can get approved by the government. But so far, bitcoin is not yet reaching all people in the world, and people still like to use fiat, so perhaps, we will not see bitcoin will be the next currency soon.

[jsizar]

There are almost no pure "get rich scheme" in the world. Crypto can be a get poor fast scheme too

[Cacingkemi]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

the government will not fully control cryptocurrency, but both in the future will co-exist, in other words, most governments in the future will be able to accept digital currencies to be used as alternatives for various transactions without having to eliminate the fiat function itself

[nydiacaskey01]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

How can cryptocurrency replace fiat if cryptocurrency is not fully controlled by the Government? I don’t think there will be a Government that will allow their current currency to be totally replaced by cryptocurrency.

Sure the government cannot control Cryptocurrency but the Government is likely to Crash too

Can you elaborate more on how the Government can crash? Maybe it depends on the power of their currency, if its US, they have a strong currency unlike other currency.

[Getmon]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

How can cryptocurrency replace fiat if cryptocurrency is not fully controlled by the Government? I don’t think there will be a Government that will allow their current currency to be totally replaced by cryptocurrency.

The government's fiat could be totally replaced by cryptocurrency only if the cryptocurrency replacing it is of their own making and full control. Other than that, any other cryptocurrency will remain an alternative currency which will be allowed to be of use by the citizens depending on the decision of the powerful government.

Sure the government cannot control Cryptocurrency but the Government is likely to Crash too

Can you elaborate more on how the Government can crash? Maybe it depends on the power of their currency, if its US, they have a strong currency unlike other currency.

Some governments are crashing. The middle east, Latin America, and the African continent have examples. But there will always be another government that replaces the one which crashed.

[CryptoBry]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

Yes, this is quite a possibility. We see right now that some governments are already planning to launch their own versions of a cryptocurrency although there are now some precedents like the failing Petro of Venezuela, yet we have not seen a big country taking cryptocurrency with full force, maybe what China is cooking can be the litmus test on the probability and viability of a state-sponsored and run cryptocurrency. Once China can be successful with its cryptocurrency we might be seeing other big governments like Russia, EU and even the USA taking notice. However, I also don't think that Bitcoin will die because of this as the opposite can even be happening.

[makishart]

the government will not fully control cryptocurrency, but both in the future will co-exist, in other words, most governments in the future will be able to accept digital currencies to be used as alternatives for various transactions without having to eliminate the fiat function itself

I doubt it because government will feel threatened considering allowing two currency to coexist and one which is not in control and decentralized could potentially hurt their economy. the uncontrollable currency is a huge disadvantage for the government considering that they need control over everything to let things run as they were planned and crypto will become a hindrance.

[Murat]

Fiat will be replaced by another currency, not sure that is Bitcoin or Cryptocurrency, I think no government will allow Bitcoin or any other created Cryptocurrency by the people which is uncontrollable, every government have a tendency to dominate and control over any currency, Every government has an agency which is Central Bank, So without approving by themselves, Bitcoin and Cryptocurrency will be in the mainstream ever, So I don't think that Bitcoin or any cryptocurrency will not replace of the Conventional Fiat very soon.

[Polar91]

I doubt it because government will feel threatened considering allowing two currency to coexist and one which is not in control and decentralized could potentially hurt their economy. the uncontrollable currency is a huge disadvantage for the government considering that they need control over everything to let things run as they were planned and crypto will become a hindrance.

But it could be possible to use both fiats and cryptocurrency hand in hand, there's no pure reason why we need to transition and to convert fiats to cryptocurrency completely, as long as we all find benefits to what currency we want, it is already a good thing for us. The advantage is, we have our freedom to choose between decentralized and centralized. Both offers an effective way to transact with people, both with practical purpose and both are needed to make our economy better.

[sovie]

Fiat will be replaced by another currency, not sure that is Bitcoin or Cryptocurrency, I think no government will allow Bitcoin or any other created Cryptocurrency by the people which is uncontrollable, every government have a tendency to dominate and control over any currency, Every government has an agency which is Central Bank, So without approving by themselves, Bitcoin and Cryptocurrency will be in the mainstream ever, So I don't think that Bitcoin or any cryptocurrency will not replace of the Conventional Fiat very soon.

Surrendering to bitcoin will be the last thing any government will do. Crypto is no doubt a great innovation but it doesn't mean we should start saying that fiat is totally bad and will be replaced by bitcoin. Fiat is the one we have been using all our lives and I don't think there is any danger to fiat that is backed by governments.

[darkangel11]

Fiat is making you poor but most people have to live with it and struggle all their lives. Earning in fiat is like trying to fill a transport truck with sand, but without any tools just your hands. You work and the truck gets filled bit by bit but very slowly and you lose some of the sand on your way to the truck. So you earn money and are able to buy things with it but in the process you lose a lot on inflation and taxation.

[beej]

I think both can exist quite well, debating on which is better and which is gonna replace
each other is somewhat straining. I think the best thing we have today is the options on
having both fiat and cryptocurrency. I mean it's so clear fiat is the majority party but that
doesn't mean bitcoin and other altcoins out there are bound to be left behind. They have
potential for growth, development and innovation.

[Artemis3]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

You can no longer "get rich quick" with bitcoin, but you can get poor very quickly with fiat now, either by action, or inaction. The government doesn't need to crash to crash its coin, all they need to do is the wrong move.

And, governments can in fact fall, and countries can get into wars, etc. None of it affects Bitcoin, but can easily kill a fiat.

I wish Bitcoin replaced fiat soon, but it won't be this quickly. The richer nations have little incentive since their fiats lose very little value yearly, and the poor nations don't have the money to buy.

When your country is good, you don't see the point. But when your country's economy collapses, it is too late since your money has already become worthless, and you might stop loss at best. See Argentina, if they had moved into Bitcoin last year, today they wouldn't be fighting for scraps. Of course, they can stop loss before it gets worse, and it WILL get worse. Never let the State intervene the economy...

[coolcoinz]

This is an interesting point because holding fiat is really going to lead to poverty due to inflation. The value of US dollar over the course of the 20th century shows the depreciation pretty well. Before WWII workers used to earn just a few dollars a day. Now You're being paid $100 a day. This means that what our grandparents were paying $10 for we now have to pay $100. Using fiat as a store of value makes no sense and is practised only by uneducated people.

[alyssa85]

Fiat will be replaced by another currency, not sure that is Bitcoin or Cryptocurrency, I think no government will allow Bitcoin or any other created Cryptocurrency by the people which is uncontrollable, every government have a tendency to dominate and control over any currency, Every government has an agency which is Central Bank, So without approving by themselves, Bitcoin and Cryptocurrency will be in the mainstream ever, So I don't think that Bitcoin or any cryptocurrency will not replace of the Conventional Fiat very soon.

Fiat won't be replaced

The fact of the matter is that the average joe trusts fiat and all the institutions around it more than bitcoin. Because bitcoin is still immature and the eco-system around it is not yet robust. Think how often you hear of an exchange being hacked and people losing their money. And then think of when you last heard this happen to a bank. Till bitcoin solves the vulnerability of the interfaces like exchanges, there will be no adoption.

[OrangeII]

well, as far as I know, the government is difficult to destroy bitcoin because bitcoin has a decentralized system. besides that, regarding poor and rich, it all depends on how the person uses it. as far as I know, many rich people use fiat and cryptocurrency, especially bitcoin. however, the statement is very difficult to accept, because we know that some people get rich because of fiat.
it's just that, many cons versions regarding the support and rejection of bitcoin as an investment tool, and transaction tool.

[bitcoindusts]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Honestly I do not get the argument, it seems senseless.  Bitcoin is never been a rich quick scheme, its those scam company that promote it that way and at the same time fiat currency maybe depreciating its value due to inflation but I don't think it is a get poor slow scheme because if you are working you have a continues flow of fiat currency to your stash and wages adjust accordingly.

[znation]

It is difficult to predict when the government's fiat money will collapse and Bitcoin will replace it, when the government that controls Bitcoin can go the other way otherwise Bitcoin will still be rejected by the government. The future is something that people don't know about and change but everyone wants bitcoin to be the future of fiat replacement.

[Eugenar]

It is difficult to predict when the government's fiat money will collapse and Bitcoin will replace it, when the government that controls Bitcoin can go the other way otherwise Bitcoin will still be rejected by the government. The future is something that people don't know about and change but everyone wants bitcoin to be the future of fiat replacement.

There's no other way around government could accept the fact that cryptocurrency have the potential to make their system lose trust from the people. They will surely make a way to stop it for the sake of prevention and to be able still have the control of the people's taxes.

Regarding the topic "get poor slow scheme", I bet the op means the opposite about the get rich quick scheme but there's no proof about getting poor using fiats. Our financial status depends on our financial literacy, if we are spending way too many and our funds are getting insufficient, it is somehow our selves to be blame with this. We can be rich no matter if we utilize fiats or crypto.

[coin-investor]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Very interesting title, honestly it's true, I'm one of its examples, I have a hard time getting out of the 8 to 5 work scheme and it's a rat race making a living out of fiat, I only got out of it, when I got involved in Cryptocurrency, and it only took me 3 years investing in Cryptocurrency to realize my dream where I am trying in fiat for the last twenty years.

[jessyj48]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

I don't think it will be bitcoin either because it will be impossible to control since it's decentralized, government will be able to control coins that are centralized only e.g XRP

[MuffinMaster]

Fiat is making you poor but most people have to live with it and struggle all their lives. Earning in fiat is like trying to fill a transport truck with sand, but without any tools just your hands. You work and the truck gets filled bit by bit but very slowly and you lose some of the sand on your way to the truck. So you earn money and are able to buy things with it but in the process you lose a lot on inflation and taxation.

Today crypto is available to very few people and that too in very few countries. While almost everyone in this world is linked with fiat for his living and this is going on for centuries. I would say both crypto and fiat have there own advantages and disadvantages. We are not in a position to completely rule out the usage of fiat.

[KnightElite]

Fiat will be replaced by another currency, not sure that is Bitcoin or Cryptocurrency, I think no government will allow Bitcoin or any other created Cryptocurrency by the people which is uncontrollable, every government have a tendency to dominate and control over any currency, Every government has an agency which is Central Bank, So without approving by themselves, Bitcoin and Cryptocurrency will be in the mainstream ever, So I don't think that Bitcoin or any cryptocurrency will not replace of the Conventional Fiat very soon.

Fiat won't be replaced

The fact of the matter is that the average joe trusts fiat and all the institutions around it more than bitcoin. Because bitcoin is still immature and the eco-system around it is not yet robust. Think how often you hear of an exchange being hacked and people losing their money. And then think of when you last heard this happen to a bank. Till bitcoin solves the vulnerability of the interfaces like exchanges, there will be no adoption.

Bankers for sure will not let it happen. Fiat money will stay in our world forever and the cryptocurrencies cannot take its current place. But the mass adoption will occur. The mass adoption that I am talking is not about replacing the fiat money, it is the usage of both fiat money and cryptocurrencies. Merchants and business will accept the 2 both cryptocurrencies and fiat money as a mode of payment soon.

[bounceback]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

So far I have not thought that in the future paper currencies will fall even though bitcoin will be the main means of payment for the public, and now if we look at some governments have planned to make their own coins like the government in China but I think they did not do it to avoid fall of paper currency but only to facilitate the public when making transactions.

[airdnasxela]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

The government will just end up adopting cryptocurrency in the future but instead of adopting existing decentralized crypto like bitcoin who is really dominating the crypto market, they'll just create their own. That's a very obvious move by the government. They won't allow decentralized to dominate on their country so they will just make their own cryptocurrency where they can still control it

[darkangel11]

Fiat is making you poor but most people have to live with it and struggle all their lives. Earning in fiat is like trying to fill a transport truck with sand, but without any tools just your hands. You work and the truck gets filled bit by bit but very slowly and you lose some of the sand on your way to the truck. So you earn money and are able to buy things with it but in the process you lose a lot on inflation and taxation.

Today crypto is available to very few people and that too in very few countries. While almost everyone in this world is linked with fiat for his living and this is going on for centuries. I would say both crypto and fiat have there own advantages and disadvantages. We are not in a position to completely rule out the usage of fiat.

I'm not saying that we should stop using fiat or that it's bad at everything. It's bad as a store of value. You simply cannot hold fiat and should not hold fiat.
To give you an example, in the 70s you could buy a brand new sports car for 5k USD. Try to buy any new car for 5000 today, good luck with that. A cheap micro town car will cost you 8k. A cheap sports car at least 15k.

[Broly46]

bitcoin grow into hundreds billions in ten years. I’m watching the fiat money loosing 90% of its value in the course of ten years too. Is the fiat getting poor slow? I think the people who work for the minimum wages are in the worst position to get poor, they’re working for lesser life support unit at the same efforts that many farmers did, albeit they may have plenty of cash on hand but which can only be traded for smaller big Mac now.

[heidikim]

Bitcoin has been on this market for 10 years. Bitcoin proved itself. I think he'il keep improving. We are now in an irreversible way for Bitcoin. Bitcoin use is increasing day by day. People will want to have more bitcoins.

[Artemis3]

Fiat will be replaced by another currency, not sure that is Bitcoin or Cryptocurrency, I think no government will allow Bitcoin or any other created Cryptocurrency by the people which is uncontrollable, every government have a tendency to dominate and control over any currency, Every government has an agency which is Central Bank, So without approving by themselves, Bitcoin and Cryptocurrency will be in the mainstream ever, So I don't think that Bitcoin or any cryptocurrency will not replace of the Conventional Fiat very soon.

Fiat won't be replaced

The fact of the matter is that the average joe trusts fiat and all the institutions around it more than bitcoin. Because bitcoin is still immature and the eco-system around it is not yet robust. Think how often you hear of an exchange being hacked and people losing their money. And then think of when you last heard this happen to a bank. Till bitcoin solves the vulnerability of the interfaces like exchanges, there will be no adoption.

Bitcoin cannot "solve exchanges", exchanges are beyond Bitcoin. It is not Bitcoin's business what people are willing to exchange it with.

If you earn Bitcoin, and spend Bitcoin, you are not using exchanges. That is what Bitcoin covers, its own network and only that.

As for fiat being replaced, give it a century or so. I predict by then the crypto algorithm would have been replaced by a quantum one, but other than that, it will probably be used.

Governments can do whatever, that won't stop Bitcoin. My government forbade forex for nearly two decades, before finally giving up. A Central Bank is useless in a post Chicago, Austrian economy where banks don't do fractional reserve anymore. Deflationary money doesn't need banks in the first place. Bitcoin doesn't lose its value over time like fiat does, therefore you don't need a bank to gain interest (which is always lower than inflation anyway).

There is also the generational transition, the older people opposed to Bitcoin will go, and the younger ones more willing to accept it, replace them in seats of power. The genie is outside of the bottle the mere Bitcoin idea and its working implementation serve to prove it.

Yes, time is in favor of Bitcoin. Out with the past, in with the future. Its already accepted worldwide today, underground in some places, openly in others. It can only improve from now. Thankfully the opposition is authoritarian and few, and old, they cannot escape time.

[suvo05]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Fiat is backed up by commodity money, it's neither just a paper nor have it's own physical value. It is the legal tender backed up by GOV itself. Where bitcoin is totally virtual, it does not have any physical relation with anything. But for the last decade bitcoin has a significant effect on global economy and will continue to become a stronger part of it. That does not mean bitcoin is going to replace the fiat better they both coexist.

[Bitcoinislife09]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

I think fiat money is surely established today and i don't think it is going to be replaced by bitcoin even bitcoin was a completely revolutionary fiat money is already completely adopted and already use by a lot of years and it is regulated by the government in a lot of countries, unlike bitcoin which doesn't have a regulation and completely have a confusing history. It could be a great alternative currency but I don't think it could replace fiat at this point.

[Mike Mayor]

Lol. Whenever I hear people calling financial investments and things calling them scams I always laugh. When people say bitcoin is a ponzi I just can't even....
When I think of what things cost 5 years ago compared to now it makes me cringe. in 2009 I was about to get a KYC meal for R27 this price rose up and up all the time R30 R33 then it made massive jumps and right now in 2019 that same meal costs R65+- so that means in 10 years my buying power here halved. If I look at the price of food the same has happened. Perishables become more and more while electronics and stuff stay the same.
Cars and repairs and housing the same thing.

If I think about it... I think since 2009 the buying power has gone down by at least 25%-30% for none perishables and for perishable items its halved.

So fiat is an investment that weakens by 5%-10% each year. People have f it when bitcoin drops in price but fiat does all the time.

Now if you in debt with the bank that is even worse. That means 11%-20% interest a year +5%-10% that is 16%-30% total lose in fiat. How do people not lose their house??

[SummerBliss]

Poor money management by central banks and government is not a new thing. Every year, there are few countries struggling with hyperinflation.
Hyperinflation or Fiat losing its value is the result of bad monetary policies mainly governed by central banks. On the other side, bitcoin which has limited supply has inbuilt deflationary property.
But a small amount of inflation in Fiat is essential for the businesses and economy to work. Inflation has its own advantages. But controlled level are desired. You definitely can't run an economy on deflationary and decentralized currency like Bitcoin.

[the rise]

Sovereignty in a centralized economic system is a form of trust of its citizens to adhere to a shared system that can be carried out on an ongoing basis, although there is a dirty intrigue in it in general fiat is still more stable in a sustainable economic wheel. The main concern in bitcoin is that due to fluctuations and manipulation of uses that move too freely, this will cause an increase in negative alignments which can have an impact on macroeconomic devastation.

[qiman]

My wife she gets her salary in Bitcoin, so yes, she is one of the new generation of people who cannot get a job earning Fiat but is working and receiving Bitcoin. I believe also Bitcoin will replace mainstream FIAT because traditional jobs are dying out because of automation and other calamities, but internet and blockchain jobs now are coming and people are working now in this niche, instead of being unemployed. I am sure and more confident in Bitcoin than I am of FIAT now, because it is true, inflation has made many people poor over the last fifty years in the West especially and a whole middle class has been wiped out and is living in poverty now. This is a stark reality.

[romero121]

My wife she gets her salary in Bitcoin, so yes, she is one of the new generation of people who cannot get a job earning Fiat but is working and receiving Bitcoin. I believe also Bitcoin will replace mainstream FIAT because traditional jobs are dying out because of automation and other calamities, but internet and blockchain jobs now are coming and people are working now in this niche, instead of being unemployed. I am sure and more confident in Bitcoin than I am of FIAT now, because it is true, inflation has made many people poor over the last fifty years in the West especially and a whole middle class has been wiped out and is living in poverty now. This is a stark reality.

That's really good to hear that your wife receives in terms of bitcoin. In my country we haven't got much of stores accepting bitcoin, maybe in the coming days we might experience this. Right now bitcoin is used for transaction, when end user agrees to accept bitcoin. In few countries people have been moving their earnings into bitcoin to overcome the inflation that is happening due to the improper economic structure.

[yulionoo]

in my opinion in the future there is indeed a possibility that fiat will be replaced by cryptocurrency. but i think it's not bitcoin. bitcoin has high volatility which is quite difficult to use as a means of payment. and decentralized bitcoin is difficult for the government to control. so I think in 10 years or 20 years when our society is ready to use crypto then I think the government will make crypto itself. so that by making its own crypto the government can still control its value.

[Pinkris128]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Bitcoin is a scheme that can make you rich, but it doesn't mean that fiat will make you poor. The reason why bitcoin can make a person rich because it is good for a long-term investment, unlike fiat it is not an investment it is only a material that we used for us to buy our family goods and pay all of our bills and also taxes.

[fullhdpixel]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Bitcoin has really helped a lot of people . I can remember that I had no good job and I’ve been going from one job to another, and all these jobs were not paying me enough to take care of myself not to talk of my family. Then I switched to Bitcoin and also started working online and from there I got a job and was getting paid through Bitcoin. And apart from that I also did signature campaigns with the free time I got because the Bitcoin job was remote. I also invest in Bitcoin and I’m learning to trade as well.

There are lots of opportunities here and it’s really changing the world.

[Blackdeath]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Fiat will not make you poor because it is just a paper money or physical money that qe used in exchange for goods. It is the main reason why we work hard on our jobs just to earn fiat. I also think that bitcoin could replace fiat currency in the future because it is better than fiat as currency.

[Zionatin]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

I think you are only half right. I believe the government will use its own crypto and possibly make other places pay using it or try to. They will need to offer people investive over using government crypto rather then crypto from large corporations. There is going to be a conflict between the government and large corporations and the crypto might be split between them. I know I do not want to use a government controlled crypto I would rather be in the wild west with a crypto that has no promises and anything can happen.

[Oilacris]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

I think you are only half right. I believe the government will use its own crypto and possibly make other places pay using it or try to. They will need to offer people investive over using government crypto rather then crypto from large corporations. There is going to be a conflict between the government and large corporations and the crypto might be split between them. I know I do not want to use a government controlled crypto I would rather be in the wild west with a crypto that has no promises and anything can happen.

I wont consider it as a crypto but rather an e-fiat. They would definitely make their own and wont tend on completely adopting Bitcoin yet they know that it isnt controllable thats why they do really have that common
negative impression or views.

These two things wont really be possibly collaborated thats why it isnt surprising that they would make their own instead.Bitcoin get rich quick scheme? I dont think so.

[gabbie2010]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

When you asked investors who bought Bitcoin at ATM in 2017 they would tell you touching stories some would say Bitcoin is a scam others would say it is a Ponzi scheme some believed Bitcoin is not get rich scheme however replacing Fiat with Bitcoin is not feasible due to government not to able to control it and the instability in it price would work against that particular monetary policies.

[the rise]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

When you asked investors who bought Bitcoin at ATM in 2017 they would tell you touching stories some would say Bitcoin is a scam others would say it is a Ponzi scheme some believed Bitcoin is not get rich scheme however replacing Fiat with Bitcoin is not feasible due to government not to able to control it and the instability in it price would work against that particular monetary policies.

2017 and before were very worried about hacking, ransomware and unclear attitudes from the government towards bitcoin. The situation is no better than now which is only connected with falling prices and ico scams. At present the global government has not been able to take any steps against bitcoin, but they are increasing their attitude as mediators by creating legally stable coin.

[Genemind]

we all have our own opinion as well as the person who tweeted that. As for me, Bitcoin isn't a shortcut to success because just like fiat, we also have to work hard for it. Bitcoin could be our supporting currency but it couldn't replace fiat for many reasons. However, Bitcoin offers a lot of opportunity for most users especially when it comes to investment which we have to be grateful for.

[nydiacaskey01]

Bitcoin has been on this market for 10 years. Bitcoin proved itself. I think he'il keep improving. We are now in an irreversible way for Bitcoin. Bitcoin use is increasing day by day. People will want to have more bitcoins.

Purpose for it to be used is increasing, but people are not using it but instead, people are just holding it and waiting for Bitcoin to reach another all time high. There was a recent report that a huge amount of Bitcoin that is being held by people hasn't move for the past two years. They are waiting for the big one, but this in mind, this means its not a get rich quick because you waited for quite some time before you can declare that you get profits.

[btc_angela]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Government crash? Do you think that the people behind will just allow bitcoin to take over the finances of a country? So the answer is no, bitcoin can't replace fiat. And bitcoin goal is not to replace the old and traditional fiat system, but rather offer an alternative. As far as job opportunities, bitcoin and fiat can be used side by side, no need to compare or even thinks that the other system will replace the other one. They can even co-exist without any issues, so it's going to be a win-win situation for us.

[DreamStage]

Fiat has to be used for your daily life payments, for daily life buying, taxing and so much things involved.
For sure it is way harder for you to profit from an investment or positive income rather than bitcoin or any other cryptocurrency where you have your money stagnated for some specific time.

During that time, bitcoin grows or drops but you have your money HODLing somewhere on the network, meaning it's not getting touched.
Therefore you get your gains from other people's investments (from price fluctuation and trading) just like a pronzi scheme where you get your gains from other people's investments.

On the other hand Fiat is constantly being used for your life shops.
So yeah that's basically why fiat is a get poor slow scheme

[karanggatak]

I think bitcoin will never replace fiat money. although bitcoin has been proven to provide great benefits but it will not make the government legalize and support bitcoin. because bitcoin is decentralized and the government doesn't like something that can't be controlled. and in my opinion if in the future the government wants to replace fiat money with crypto then surely they will make their own crypto which they can control.

[KnightElite]

Fiat has to be used for your daily life payments, for daily life buying, taxing and so much things involved.
For sure it is way harder for you to profit from an investment or positive income rather than bitcoin or any other cryptocurrency where you have your money stagnated for some specific time.

During that time, bitcoin grows or drops but you have your money HODLing somewhere on the network, meaning it's not getting touched.
Therefore you get your gains from other people's investments (from price fluctuation and trading) just like a pronzi scheme where you get your gains from other people's investments.

On the other hand Fiat is constantly being used for your life shops.
So yeah that's basically why fiat is a get poor slow scheme

Saving fiat money cannot make you rich because the inflation will beat you. There is a saying that savers are losers and it is definitely true. If just invested the fiat money that we have in bitcoin before, it will generate big amount of profit to us. Those people who chose to make invested in bitcoin than to save their fiat money back then, did a great job and they are now enjoying their lives because of the profit that they got.

[Sadlife]

There are tons of opportunity in bitcoin you can earn from it, make it a source of living and invest in it for your future, because it is not monetized by any government and it is not centralized by any banks. In other words you can freely use your money if you're a bitcoin user. Unlike fiat governments and banks will tax you and even lower your money's value by printing more paper money

[BartS]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Fiat in the best case scenario is a get poor slowly scheme but if the government makes many mistakes then it can quickly become a get poor quick scheme, we have seen this in many countries in the past and we will continue to see this in the future.

However I do not see fiat being replaced by bitcoin since that will require that governments all over the world admit they are not capable of creating a stable currency and they will never admit that especially with the huge power fiat currencies give to them.

[Yordenis91]

Maybe, i should make an investigación.

[gabmen]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Fiat in the best case scenario is a get poor slowly scheme but if the government makes many mistakes then it can quickly become a get poor quick scheme, we have seen this in many countries in the past and we will continue to see this in the future.

However I do not see fiat being replaced by bitcoin since that will require that governments all over the world admit they are not capable of creating a stable currency and they will never admit that especially with the huge power fiat currencies give to them.

Well if the government makes many mistakes, they have all the means to cover up for it and keep the current system running. Being rich or being poor doesn't depend on the system or the currency. It's the individual that would tell whether they'll be successful or not. Most rich people today came to where they are through hard work. Bitcoin promises a shortcut but you'd likely end up on the losing end if you look at it that way.

[julius caesar]

Bitcoin cannot be the main money of every country because it is dependent on the internet. We do not have internet always on our side that is why we will be needing fiat money still. Plus the fact that its price is dependent on the consumer of it. Having a volatile is kinda hard to penetrate by the government. So we really need fiat money still.

[k@suy]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

Fiat in the best case scenario is a get poor slowly scheme but if the government makes many mistakes then it can quickly become a get poor quick scheme, we have seen this in many countries in the past and we will continue to see this in the future.

However I do not see fiat being replaced by bitcoin since that will require that governments all over the world admit they are not capable of creating a stable currency and they will never admit that especially with the huge power fiat currencies give to them.

Well if the government makes many mistakes, they have all the means to cover up for it and keep the current system running. Being rich or being poor doesn't depend on the system or the currency. It's the individual that would tell whether they'll be successful or not. Most rich people today came to where they are through hard work. Bitcoin promises a shortcut but you'd likely end up on the losing end if you look at it that way.

Yes I am agree with you. The fate of every person depends only on him or her. If he or she really wanted get rich he or she will have to work hard in order to be successful in life because even if you are a trader, you will not be successful someday if you are lazy co'z we all know that here in trading we can easily be rich in just a short limit of time if and only if we work hard and strive for succes.

[arimamib]

Bitcoin cannot be the main money of every country because it is dependent on the internet. We do not have internet always on our side that is why we will be needing fiat money still. Plus the fact that its price is dependent on the consumer of it. Having a volatile is kinda hard to penetrate by the government. So we really need fiat money still.

so far fiat is still widely used but if the development of technology is increasingly widespread then I think payment technology like bitcoin can be a reference. so for the time being I don't think bitcoin is used too much, but in the future there might be hope

[Asmonist]

Its quite possible to happen soon but I think fiat cannot be stopped abruptly. There are many factors to consider as well especially in regulating bitcoin by government. As they speculate thr government may create their own crypto coin. But I believe they cannot replace bitcoin. It has been the beginning of all cryptoworld. We cannot disregard bitcoin all the way.

[Reid]

First time I have read this thread and it gave me a really good laugh.   Specially the title.

There is a way to make money out of fiat, of course we should have known that if we took a desk job or day job.
Although, I may say that is not just the reason into why bitcoin is toppling the fiat currencies.

But first let us get real.
How are you buying your necessities? Ain't it still fiat by now. We all want to support bitcoin but let us not be exaggerated here.
Fiat is still one of the main reason into why you are living. It might have given you a job to create money but still you are converting it to your own country currency to say that you made money out of bitcoin.

[Butwhytho]

The tweet has nothing to do with Fiat. I think Op is misinterpreting that, it should be Bitcoin a slow scheme not to be poor.

Exactly! I remember the hype and reposts when someone wrote: "Bitcoin is not a get rich quick scheme but don't get poor slow one".

[Shasha80]

Comparing fiat with bitcoin will never run out. In my opinion a discussion that never ends, in the future it is probable that cryptocurrency
will replace fiat. But it's definitely not bitcoin that will be a substitute for fiat, but rather crypto which will be made by each country.
Because the government requires centralized cryptocurrency, which has a price stable and also can be controlled. Different from bitcoin
that cannot be controlled and the price is volatility. And I disagree with the title on top of bitcoin is a get rich quick scheme, the reality of
getting rich with bitcoin cannot be fast and instant. Instead it has to go through a long process and requires hard work.

[putukin]

Comparing fiat with bitcoin will never run out. In my opinion a discussion that never ends, in the future it is probable that cryptocurrency
will replace fiat. But it's definitely not bitcoin that will be a substitute for fiat, but rather crypto which will be made by each country.
Because the government requires centralized cryptocurrency, which has a price stable and also can be controlled. Different from bitcoin
that cannot be controlled and the price is volatility. And I disagree with the title on top of bitcoin is a get rich quick scheme, the reality of
getting rich with bitcoin cannot be fast and instant. Instead it has to go through a long process and requires hard work.

I am always amused that every country wants its own national cryptocurrency. However, what profit does this have for people? If Bitcoin consists of the idea of anonymity, decentralization and protection from third parties, then the national cryptocurrency does not. What a sense? This is an endless war of people and government

[bitzizzix]

There will be no end to comparing bitcoin with fiat and both are very useful for everyone, but fiat is superior because fiat existed before bitcoin existed and became a legitimate payment for buying and selling and needed by everyone to survive because everyone needs fiat.
bitcoin so far has not been as perfect as money and can only be used as an asset or investment that can change their lives for the better or get rich, and become an alternative payment to replace fiat and is limited because not all stores or transactions of any type use bitcoin, but there is no who knows in the future and in my opinion both will benefit everyone and complement each other.

[zviadits]

I think bitcoin will never replace fiat money. although bitcoin has been proven to provide great benefits but it will not make the government legalize and support bitcoin. because bitcoin is decentralized and the government doesn't like something that can't be controlled. and in my opinion if in the future the government wants to replace fiat money with crypto then surely they will make their own crypto which they can control.

Bitcoin cannot be controlled, this is the main reason that no government will accept it instead of fiat money

[Murat]

I don't believe that at all Bitcoin is a quick scheme in order to get rich and Fiat is a poor slow scheme, tell me how many rich people in this current world are using Bitcoin? I think you could find a very small amount of people who are gaining through Bitcoin and cryptocurrency forum, on the other hand, A lot of examples you will get that most of the rich people have gained their wealth by fiat, So method doesn't matter at all, I think if you have a specific and precise idea then you could gain whatever you will follow.

[djsugar]

Inflation is necessary for the economy to work. Fiat which has inbuilt inflation is not bad. But hyperinflation in bad when it gets out of hands. If you look at Bitcoin which has inbuilt deflationary property because of fixed supply, it fails as currency. People tend to save it instead of actually spending it.
So yeah, when it comes to saving. Saving money in Fiat will definitely make you poor. Instead invest it somewhere and let your money grow.

[BeManga]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

i will agree that fiat is get to poor slow scheme if you compare the money you have 10 years ago you will know how the price of money drop
the price of goods rise and the value of money drops if you will save some cash today after 10 years it will not be worth the same.

[thirdlight]

That's not true, you could quickly get rich on Bitcoin around the second half of 2017 - early 2018, but now very often you can lose money in Bitcoin rather than earn it.

[thesmallgod]

I think you are still living in stone age. Nobody is making huge money in crypto again. In fact many business that use bitcoin as payment processors are now dropping the support for crypto due to huge debt. Gone are the day when it is very profitable to trade bitcoin. Now you trade and make small money, the next day you just discover that the price fall had reduce your profit.

[BartS]

I don't believe that at all Bitcoin is a quick scheme in order to get rich and Fiat is a poor slow scheme, tell me how many rich people in this current world are using Bitcoin? I think you could find a very small amount of people who are gaining through Bitcoin and cryptocurrency forum, on the other hand, A lot of examples you will get that most of the rich people have gained their wealth by fiat, So method doesn't matter at all, I think if you have a specific and precise idea then you could gain whatever you will follow.

But that is only the case because the fiat system has been available during the last century and it is still the dominant system in place, but give it enough time and we will begin to see more success stories when it comes to bitcoin.

Also you seem to think that the wealth you have depends on the money you have and that is not exactly true, the money you have is a reflection of your wealth, it is a reflection of all the goods and services you can buy and if at some point bitcoin became the dominant form of money then we will use bitcoin to measure wealth, but nothing will change as those that were wealthy in the fiat system will be wealthy in the bitcoin system as well.

[Getmon]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

Governmentcoin will be fully digitised fiat. There won't be any difference in its fundamental nature, only its implementation. Their absolute control over it, and you, will make it more worthless with greater rapidity and make a stronger than ever case for Bitcoin.

This.
Government will do what it takes to level their local currency the same as BTC. They're gonna innovate on how money flows inside their country. Besides we already have credit cards/debit cards that is somehow a bit similar to what BTC can do except that it is fully regulated by banks as well as the government through fees/taxes.

Even this early, governments are already starting to come up with a basic plan as to their own issuance of a government or fiat-backed cryptocurrency. This may actually hit a wider and faster adoption compared to Bitcoin because it is coupled with a legal order to everyone under their jurisdiction but this will not replace Bitcoin. They are both crypto but everybody knows which one is bogus and which one is real.

[Latviand]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

i will agree that fiat is get to poor slow scheme if you compare the money you have 10 years ago you will know how the price of money drop
the price of goods rise and the value of money drops if you will save some cash today after 10 years it will not be worth the same.

Maybe you have a point but let's not blame all to the use of fiat money the poor and rich or the status of a person will depends on the person itself its the matter how they will handle their life, if from the start they study hard and finish school then they will have a wonderful living and if they can manage how to use fiat money then they will succeed, yes cryptocurrency is a lot faster to earn and more easier and convenient but let's think of this, the investment we use in crypto is from the fiat, right? So I guess they come hand in hand. In short, in my point is the status of a person will depend on how they will perform in their life.

[Colt81]

A lot of people have been pushing and telling everybody that cryptocurrency could replace fiat currency in the near future, but i think it would be impossible because fiat currency is supported and controlled by the government, cryptocurrency is not because it is decentralized that no one can control it even the government.
Also, fiat currency does not make people poor because of it's stable value, we only use fiat in exchange for goods. It doesn't makes us rich because it is not an investment like bitcoin.

[shoreno]

both fiat and bitcoin are currency for the people but its just fiat came from government while bitcoin only created by some individuals that might not related to government  .

 fiat already provided benfits before and that benefits are more than bitcoin because it existed long time ago while bitcoin was only 10 year old  but people thinks that btc is much more better than fiat but they already forgot what the fiat did to them when btc has not been around yet  .

[Mulann2]

If you have a good source of income in fiat you wouldn't describe it that way and you may probably not know anything about crypto, only those who are looking to earn extra income are the majority in crypto, so don't be too quick to condemn fiat because it is still the most use currency out there.

[Bim abk]

A lot of people have been pushing and telling everybody that cryptocurrency could replace fiat currency in the near future, but i think it would be impossible because fiat currency is supported and controlled by the government, cryptocurrency is not because it is decentralized that no one can control it even the government.
Also, fiat currency does not make people poor because of it's stable value, we only use fiat in exchange for goods. It doesn't makes us rich because it is not an investment like bitcoin.

bitcoin will indeed be difficult to accept in all countries because there will definitely be a government that will ban it, because of the bitcoin nature that is difficult to control and also difficult to do tax collection, the government will be difficult to give access to the use of bitcoin in that country. So far Fiat is still a necessity for transactions in many countries.

[mk4]

That's not true, you could quickly get rich on Bitcoin around the second half of 2017 - early 2018, but now very often you can lose money in Bitcoin rather than earn it.

Sure, but I technically could get rich by gambling money on a casino too. In your example, you need to buy and sell the bitcoin at the right time frames, which I really doubt most people can do. Timing the markets is mostly a gamble.

[bitbunnny]

Neither of these two it's true. You will not get rich with Bitcoin over night and fiat money will not make you poor if you don't make foolish things.
You probably don't know how to handle not Bitcoin nor fiat money so such claims don't reflect reality. But since almost children are also posting here on forum I would say this might be the case here so I will say such attitude is result of lack of life experience.

[Polar91]

It is totally a different manner if we see it in a holistic point of view. Most people see bitcoin and cryptocurrency as an investment platform not the usual fiat where our money's value is fixed at the rate provided and determined by the economy we have. In some sense people see the value of stable coins but it is in fact a widely accepted facts that bitcoi  and cryptocurrency is a quick eich sceheme mainly because we can't deny its volatility.

[bettercrypto]

First time I have read this thread and it gave me a really good laugh.   Specially the title.

There is a way to make money out of fiat, of course we should have known that if we took a desk job or day job.
Although, I may say that is not just the reason into why bitcoin is toppling the fiat currencies.

But first let us get real.
How are you buying your necessities? Ain't it still fiat by now. We all want to support bitcoin but let us not be exaggerated here.
Fiat is still one of the main reason into why you are living. It might have given you a job to create money but still you are converting it to your own country currency to say that you made money out of bitcoin.

We should not let go the fiat. It is not necessary need to remove fiat because we are now in the transition of paper to digital currency. We need it as of now since our living depends on fiat. We can't buy anything yet without our own currency. Bitcoin is just a tool to cut the boundaries between countries. Bitcoin is a new type of currency. A peer to peer network that creates not just transactions bit opportunity to all.

[betty11]

Fiat will someday be replaced by Cryptocurrency by the way Cryptocurrency is getting more attention from the mainstream with an intention to develop their own stable coins. Nevertheless I can't tell exactly which coin will be the reserve currency of the world, I am optimistic this should be the bitcoin.

[Assface16678]

Fiat will be replaced soon by bitcoin.

Share your thoughts

Not so soon my friend. Fiat currency cannot be easily be replaced with btc as you can see not of all of the nations have fully accepted cryptocurrency as an option of payment. I dont even see that happening while we're still existing in this world. Both could co exist but replacing fiat is almost impossible. Lets be real.

The cryptocurrency cannot replace the fiat because there is a law that a country must have its currency that will use to support and also use for trading into the different currency. Cryptocurrency is just an alternative digital currency that only a few countries accept the adaptation of it. If we are focusing on the futuristic world, we are going towards into cryptocurrency but the government still not ready for this because of the security for each transaction, unlike the fiat they don't need to monitor what transaction they are doing because it is a physical money.

[minersday]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

The crypto industry has really helped several people online to get employment including myself as a bounty manager and also a community manager with several projects. i would encourage every one in this industry to get a skill in order to get employed by any blockchain startup because we are likely going to earn more than they do not forgetting the upward trend volatility of bitcoin which increases our salaries beyond the normal. Investing in fiat has never and will never be my choice lol.

[Astvile]

Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so  they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.

The government rejecting bitcoin to be the one who beat fiat currencies and totally replacing it is reasonable but the possibility that the government will change and will see what benefit bitcoin gives us compared to fiat and any other payment method in the world now is really big. There is still a lot of time for the government to consider it so I really hope that if fiat will be gone I hope that it will be cryptocurrency who will replace it.

[BartS]

Neither of these two it's true. You will not get rich with Bitcoin over night and fiat money will not make you poor if you don't make foolish things.
You probably don't know how to handle not Bitcoin nor fiat money so such claims don't reflect reality. But since almost children are also posting here on forum I would say this might be the case here so I will say such attitude is result of lack of life experience.

While it is true you will need to make lots of mistakes to lose your wealth, there is almost no financial education being given at school or at home and many people make those mistakes.

They take loans they cannot afford to pay, they take loans for stuff they do not even need, they choose a career path without any future and with a very low pay, they do not invest for their future, they save in fiat which is losing value every single day, I could continue but you get the point.

[Wintersoldier]

I wonder why the subject is directly saying using fiats is an indication of a negative future, but in fact, the systems we've developed in fiats is the foundation why we have the best currencies of today which is the cryptocurrency. Being rich will not be determine on what currency we have, nor the economy we belonging into, it will be based on how aware we are to our condition, and how we keep on working hard to escape poverty. As a bonus, if we try to have our knowledge deeper, it will help us to grow faster and eventually become rich.

[bhabygrim]

I wonder why the subject is directly saying using fiats is an indication of a negative future, but in fact, the systems we've developed in fiats is the foundation why we have the best currencies of today which is the cryptocurrency. Being rich will not be determine on what currency we have, nor the economy we belonging into, it will be based on how aware we are to our condition, and how we keep on working hard to escape poverty. As a bonus, if we try to have our knowledge deeper, it will help us to grow faster and eventually become rich.

I agree no matter what we use even if it's Fiat or crypto it all depends on us.
There are successful person in both currency because of their skill and how they manage their profit.
If we couldn't manage our money well no matter how much we have it will always run out .

[henrybek3]

Bitcoin domination is very falza. Even if the bitcoin price goes up, altcoin prices are adversely affected. Why should people invest in altcoins? For subcoins, the bitcoin price needs to remain constant. In 2020, there could be such an improvement.

[Bitcoincc]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

People don't like to pay taxes, many local currencies always devalue, bitcoin have high tendencies to increase in value over time. So, because of these, people are now preferring to buy and do bitcoin transaction business over fiats.

With that said above, people like to convert fiats to bitcoin and it is very possible that this make bitcoin more wanted than fiats in the future. But, there are barriers that will make this not to happen. Governments are the barriers, that is why they are banning and placing strict regulations against bitcoin.

Although, with strict regulations, bitcoin value is still increase but this has delayed bitcoin to be the world currency.

[BartS]

I wonder why the subject is directly saying using fiats is an indication of a negative future, but in fact, the systems we've developed in fiats is the foundation why we have the best currencies of today which is the cryptocurrency. Being rich will not be determine on what currency we have, nor the economy we belonging into, it will be based on how aware we are to our condition, and how we keep on working hard to escape poverty. As a bonus, if we try to have our knowledge deeper, it will help us to grow faster and eventually become rich.

Fiat currencies are not the foundation of cryptocurrencies, there is a reason why bitcoin is often thought to be some form digital gold, bitcoin has almost all the characteristics of gold but with the advantage that it is very easy to store compared to gold.

But if at some point in time governments begin to develop their own cryptocurrencies you are going to see the difference, they are going to create a centralized cryptocurrency that is going to be nowhere near what bitcoin is about and it will not offer the freedom that bitcoin offers.

[sana54210]

I like Bitcoin and cryptocurrency, but judging from how things are going right now I would say that decentralizedcryptocurrency is not going to replace fiat.

You should take China as an example, they are creating their own cryptocurrency but they never said that they are going to stop their citizens from making use of their fiat (Chinese Yuan), rather their cryptocurrency will be another option for those who doesn’t want to make use of the regular currency and it will also be a faster means of transaction and the way I see it, it will be issued by the banks and people will be able to exchange it for fiat if they wish to. So fiat will still be there and governments will create centralized cryptocurrencies that they can regulate.

[affandi]

in the digital age like today, many people speculate the same thing as you. but it seems that most of every government wants everything to be centralized, so they can control. whereas we all know that bitcoin is decentralized, so it seems that it will be difficult to replace fiat. at present, in my country, bitcoin is only used as an alternative currency and as an investment.

[Meowth05]

I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.

Share your thoughts

A lot of people speculating that cryptocurrencies will eventually replace Fiat but I think not because first of all government who is the one handled the monetary system. It will be hard for government to monitor this kind of currency so there's a high for them to not accept this technology or simply ban this on their country. Probably, they will use it as an alternative monetary system for the country.

[msarro]

Government backed fiat will crash and government will still be standing? I really doubt both these will happen at same time.
If there is no fiat then there will be no government operating in the country, since the financial control is one of the strong pillar on which any governments stand. Bitcoin has its own value and use cases but that doesn’t mean we should start saying that it’s going to replace fiat.

[supercanada1]

Government backed fiat will crash and government will still be standing? I really doubt both these will happen at same time.
If there is no fiat then there will be no government operating in the country, since the financial control is one of the strong pillar on which any governments stand. Bitcoin has its own value and use cases but that doesn’t mean we should start saying that it’s going to replace fiat.

Bitcoin can not replace fiat in any way because cashless economy can not be possible. Bitcoin stands on its own without the government’s support. That is true that bitcoin will hold a strong position in our lives in future but it will use in parallel to the fiat. It can in no way fully replace fiat.

[Ashong Salonga]

It depends on the individual if he can acquire the possibility on getting rich through Bitcoin or through Fiat because there are different cases that even a single person just sticks into Fiat all throughout his life, he still manages to get rich all by himself. On the other hand, cryptocurrency such as Bitcoin provides us a great opportunity and possibilities of earning large income through working into various ways possible that is also dependent into your preference. Even if cryptocurrency provides us such opportunity, the effort we exert on dping work related to earning crypto will say what can truly happen to our journey on crypto industry. Still working hard is the best way to get rich and there is no such shortcut on doing such thing but exerting hard work on every single thing you do whether it is on Fiat or cryptocurrency. Having a wise choice and also good decision making matters if you will going to be rich or another way around because even if you have greater possibility to get rich with cryptocurrency but you have poor intelligence on decision making you might still end up being poor.

[bryant.coleman]

I am not sure whether we can compare the two, because Bitcoin is an asset mostly used for investment nowadays and fiat currency is mostly used as a medium of payment. The purpose of fiat currency is different from that of Bitcoin. So it won't be proper to say that anyone investing in fiat currency will be getting negative returns (just because we are not supposed to "invest" in fiat currency). Now please don't misunderstand me. I am not a fan of fiat currency and for the last 8 years, I have remained as a loyal user of Bitcoin. But I need to clarify certain things, so that the new users won't get confused.