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

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[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.