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

[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.

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[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 .