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

[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.