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Author Topic: Rookie thing.  (Read 724 times)
TheGreatPython
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May 22, 2020, 03:58:15 PM
 #61

Fiat value remains as it is because they are still commonly used on every countries all over the globe and it will not be disregarded to it's value. In my opinion, bitcoin perhaps will not replace fiat for now, but it will be an additional currency to us crypto enthusiast. I earned bitcoin or any crypto currencies online but i still convert it to our monetary bills so that i can use it for buy necessities because our country is still not fully adopting crypto transactions on all common stores and merchandises.
I am not even believing it when people say that cryptocurrency is going to be replacing fiat. If you check your environment, you will notice that it's not everybody that is techie, there are people who are not interested in all these and just prefer the normal cash that they are used to. It's just like you have said, there is no growth in adoption in most places, including where I live.

Especially when I go to the local market to buy foodstuffs, which is a very busy place, the sellers expect you to pay them with cash and nothing else; they won't accept any other form of payment from you, not even bank transfer, they just want their cash. I mean it would take more time for most people around the world to start accepting other payments except fiats and we do not have any option other than waiting for them to cope with latest technologies.
Reatim
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May 23, 2020, 06:21:14 AM
 #62

Fiat value remains as it is because they are still commonly used on every countries all over the globe and it will not be disregarded to it's value. In my opinion, bitcoin perhaps will not replace fiat for now, but it will be an additional currency to us crypto enthusiast. I earned bitcoin or any crypto currencies online but i still convert it to our monetary bills so that i can use it for buy necessities because our country is still not fully adopting crypto transactions on all common stores and merchandises.
Wrong!! because Fiat value degraded each time the economy of each country falls down and that happens to US now,because months ago the
 conversion of USD to our local currency is far higher comparing to what is the value these past weeks
and this means the value is lowering since they are into bad economic status now.

Look how much the conversion now from compared to last year when USD is Valuing higher than today?

actually this same reason that's why i am preventing to convert my crypto to fiat now
 (though i don't need the money for now)


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travwill
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May 23, 2020, 11:23:58 AM
 #63

You ask about things that are unknown. Now the value of things like a machine is measured in Fiat currencies, as is the value of cryptocurrencies.
If all fiat money is transferred to cryptocurrency, then people will evenly measure everything in the equivalent of $ because some kind of reference point is needed.

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