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Author Topic: Fiat is a Digital currency without Value  (Read 949 times)
Alert31
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June 11, 2020, 11:54:29 PM
 #41

How it happened that fiat is a digital currency without value? How can people use it when it has no value? I think you didn't understand your post. First,Fiat is a currency created by the government to be use by the people as a medium of exchange and it was issued and accepted by the banks. Digital currency is not owned by the government and there is no single authority can control it. Also from the word digital,it was not visible and grasped. It always needs internet to make a transaction. But both of this currency has a value that people can be use anywhere ,anytime.

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June 12, 2020, 10:54:06 AM
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 #42

Fiat has value at same time frame or within short time frame with ignore-able depreciation. I cannot agree that fiat is not holding any value due to improper reserve practices by governments. Still, if your fiats are capable of buying something for you, how you can call it valueless. If you go for holding your fiats, it will start losing its buying power and to compensate it, banks provide you interests. This is why we need to assume governments never ask us to hold fiats at your wallet nor in your locker box.

Fiat is meant for spending. You get a salary at the end of month, and you need to make use of all your money which includes your saving and investments before your next salary. This is what governments want us to do with fiats. No government will ask you not to hold fiats; but we need to understand it as they are always intensively working hard to maximize all required infrastructure for us to spend money. Because, they know they will never stop printing money which means if we save fiats then we will lose it.

Simply, fist is for spending; if you spend it quicker, the lesser you will lose.

Not ready to agree with me?
Okay here you go, will governments want us to be a hard working citizen or as a settled rich man? They always want us to be working for building the nation's economy stronger. When you keep working? If you do not have anything on hand and highly depending on your salary. So, you need to get exhausted within every month so that you will remain as a hard working citizen until you retire.

If fiats are working like bitcoins, then my grand father might have inherited me billions and my entire family and future generations will never think about contributing in building economy of my country.

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June 20, 2020, 03:27:06 PM
 #43

Just because of having bitcoins, I do see people are blaming fiats but one day or other we are going to use bitcoins exact similar to fiats. It may take more time and I am not saying bitcoin's upper cap will be altered but there are possibilities for bitcoin to be used similar to fiats.

Why fiats are not having value? Because of government continuously prints it? If government not working on gold reserves and stop printing money what will happen? People will get all their basic needs and their country will become a super power? I could not get the meaning of arguments about fiat is not having value.

I guess OP must explain on what must need to be done so that fiats may get value. I guess theoretically there should be some suggestions but there should be lots of negative consequences.

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July 10, 2020, 05:35:24 PM
 #44

Just because of having bitcoins, I do see people are blaming fiats but one day or other we are going to use bitcoins exact similar to fiats. It may take more time and I am not saying bitcoin's upper cap will be altered but there are possibilities for bitcoin to be used similar to fiats.
Fiat and bank interest are failed products created by banks, which indeed cause the courage to take speculative actions that cause the economy to not stand on the real sector. Fiat money which actually has no intrinsic value but is used as assets and traded causes actions of intervention, manipulation, and exploitation of currencies for the benefit of groups. Very different from bitcoin whose system is decentralized and uses algorithms that are difficult to manipulate.

Quote
Why fiats are not having value? Because of government continuously prints it? If government not working on gold reserves and stop printing money what will happen? People will get all their basic needs and their country will become a super power? I could not get the meaning of arguments about fiat is not having value.
Because fiat has no intrinsic value, other than that we can return to the main function of money as a means of payment and greasing the economy, not assets to save or hoard. Increasing the amount of money is not followed by additional production of goods and services means economic congestion, other than that because the money is not circulating for the economy of the real sector but is only stored or stockpiled by a group of people, thus hampering economic turnover.

Quote
I guess OP must explain on what must need to be done so that fiats may get value. I guess theoretically there should be some suggestions but there should be lots of negative consequences.
Fiat printing must be guaranteed with gold or other precious metals.

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July 12, 2020, 12:27:38 PM
 #45

There's a value if people are using it. In the end people are the ones who give value, we create supply and demand. Now you can control the supply or the demand, depending on your position, and governments have a strong position! Depending on the country and how strong position it holds, it can manipulate with the prices on certain markets.

You need to know where cash is coming from, how it works, and when you get into current economy and how it works you see it's a crap, simply said! The power is in the hands of few, we can name some, but what's the point, it's a combination of private and government sectors. It sucks, but we are using fiat and government currencies and with that we support the system! Slowly, but steady crypto is giving all of us alternative. Now it's not the same for everyone, but I sense some changes because crypto offers a better solutions for the global problems, and people are seeing that when they get into crypto and for what crypto stands for.

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July 13, 2020, 08:01:48 AM
 #46

There's a value if people are using it. In the end people are the ones who give value, we create supply and demand. Now you can control the supply or the demand, depending on your position, and governments have a strong position! Depending on the country and how strong position it holds, it can manipulate with the prices on certain markets.

You need to know where cash is coming from, how it works, and when you get into current economy and how it works you see it's a crap, simply said! The power is in the hands of few, we can name some, but what's the point, it's a combination of private and government sectors. It sucks, but we are using fiat and government currencies and with that we support the system! Slowly, but steady crypto is giving all of us alternative. Now it's not the same for everyone, but I sense some changes because crypto offers a better solutions for the global problems, and people are seeing that when they get into crypto and for what crypto stands for.


I agree there is definitely value in FIAT because the government and ther citizens are using that money. The value might be fairly small if the country is running high inflation and internationally not really respected. For the most bigger countries there is actually value. You can always buy the Fiat currency and invest in that country - with some corporate bonds you should make 1-2% a year, or in your money market account you make a small return of less than 1% but you even have a return for just holding that currency.
As long as the country is producing something and have their people spending  that money for shopping and other things, there is a value in the currency. However that value could easily be manipulated by the government. Such a risk you don't have with crypto currencies.

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July 13, 2020, 11:55:06 AM
 #47

There's a value if people are using it. In the end people are the ones who give value, we create supply and demand. Now you can control the supply or the demand, depending on your position, and governments have a strong position! Depending on the country and how strong position it holds, it can manipulate with the prices on certain markets

Money as such has only transactional utility

All other value comes from the goods and services which can be bought with it. In simpler terms, it is not money that people value but the benefits they can acquire through it. If you couldn't buy anything with it, it would instantly lose all its value, specifically as a means of exchange or payment. If we are talking about fiat money, that would mark its demise. In case of hard currencies (e.g. gold), it would turn back into a commodity that propped up its value

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July 13, 2020, 02:23:33 PM
 #48

I think this post is misleading. I do believe in fiat currency and not really in crypto though cryptocurrency has also a good feature like anonymity and decentralization. However, having crypto still need to use the fiat currency to buy in and that fiat currency is from a centralized system. Before you can have a decentralized currency one may still going to undergone a lot of transaction fees or service fee from banks or whatsoever like remittances (some accepting payment for crypto).

Now, why I think this post is misleading. Well yes fiat currency has really no value just like what OP had stated. Its cheap materials could to make the fiat currency also is not the reason of its value. So how could a fiat currency getting its value? It is the economic state of every country on how much its worth. Of course USA had establish already where high rise building could be seen. This is one way how a country getting its value. It is the asset from structural to resources and income. The greater a country made an income the stronger its economy will be and so does its fiat currency like china.

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