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

[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 I predict by then the crypto algorithm would have been replaced by a quantum one, but other than that, it will probably be used.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.