Fiat, CBDCs, all of these are enemies, your only friend is Crypto!

[Ozero]

The money of states cannot be bad, and even more so, they should not be called enemies of ordinary people. Money is just a financial instrument in the hands of people for the exchange of goods. On the whole, they play a very positive role, there is no doubt about that. With the advent of blockchain technology, CBDCs are a more advanced system of cashless payments that are beginning to be implemented by states. All these types, including cryptocurrency, should work for the benefit of a person, complement each other, and not conflict with each other. All of them have their advantages and disadvantages, people themselves should choose what to use, based on convenience and the specific situation.

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[SirLancelot]

I wouldn't consider fiat to be bad, but well the way the government manages inflation inevitably makes it look bad to us anw.

But still fiat has it's own advantages (but disadvantages may overwhelm those depending on gow you look at things), so I reckon CBDCs are the same. Being centralized has its own advantages (mostly qol stuff imo), but still, inflation would still fuck us up, but hey, if you know how to manage your finance I think you can minimize the damage it could cause.

How could you not consider it bad. I mean there are so many reasons why fiat is a bad thing to hold. If you have debt that you invested into some profitable thing, that is even better.

It is so bad that I rather have fiat debt and crypto profit, that way I know that I could pay my fiat debt eventually due to inflation and how life will become more expensive and the debt will look smaller whereas I could be forcing myself on paying that a lot easier and that would allow me to make a good return. This is just an example, doesn't mean that you should do this, it just means that you should not be considering fiat as a good thing to hold at all, that is the worst.

[jrrsparkles]

A fun fact even the inflation rate of Fiat currency helped bitcoin to grow in terms of fiat but the sad thing is we still calculate the value of BTC in fiat like 1 BTC= $x. Anything that appreciate over time is good for us but how many people can differentiate investments and liabilities even in this 2022?

[davis196]

Have you ever thought that the Bitcoin value goes up because the fiat value goes down.
In that case,fiat is Bitcoin's best friend. The Bitcoin value won't go up,if the fiat value doesn't decrease.
Who would even buy Bitcoins,if the fiat money preserved and increased their value?
With an "enemy" like fiat,we don't need friends.
CBDC will be the same as fiat,the technology behind CBDCs doesn't matter.They will be as a centralized and as inflationary as fiat paper money.This means that another fake enemy(actual friend) for Bitcoin would join the party.
Unfortunately,the Bitcoin price is too volatile,which scares many people away from BTC and stops the mass adoption of BTC.

[Gyfts]

I wouldn't call CBCD enemies though, perhaps government just wanted to offer alternatives that all.

But definitely, for us who are in crypto, then there's no way that we are going to shift to CBCD. Maybe in needed basis though, for example if your government requires you to transaction thru their agencies with CBCD as a payment method. I think this is the only way that I see CBCD might be of good use.

The government isn't looking to offer an alternative, they want to streamline fiscal control into a simple action of typing in numbers onto a keypad to alter the digital token supply of an entire economy. Fiat currencies lend themselves to overt governmental control but the distribution has a physical component. Most banking is online but there will still always be cash, and the government doesn't have any control over cash P2P transactions. The fact that CBDC's are being presented as even being remotely similar to crypto demonstrates their successful propaganda campaign. They aren't similar and I can guarantee you the long term goal will be to phase out fiat currencies for CBDC's and then use CBDC to replace crypto.

[cabron]

To determine the price of BTC, we need fiat which will also be replaced by the CBDC. I experience first hand how difficult it is to have no access to fiat, its not good.

Fiat digital currencies will still exist whether you see it as enemy. The government needs fiat currency. If they need go back to the gold back currency, they will do it just to have a control over the currency for  the country. There may be countries that will embrace BTC  but there are also countries that will hold on to fiat for they need it otherwise chaos will be there.

[macson]

snip

Media and the government tell you that it's a scam, a pyramid, terrorists and drug dealers favourite money, but no! This is a great escape. Just look at these two charts that clearly show the history of both currencies, the first one declines and the second one rises and after all of this, the government tells you that it's not safe and is dangerous!

We should learn from our mistakes!

the media is a tool of government to lead opinion so it's only natural that they all say bitcoin is a tool for criminals such as terrorists, drug traffickers and arms dealers.  in fact, Bitcoin is a way out for many people to be free from the restraints of the government and also banks that have been locking up human financial freedom.  lucky us who know and believe in Bitcoin early.

[southerngentuk]

I am quite passionate about this market but also have to look back at our current economy when other things are not the only problem but how to operate and manage high-ranking government apparatuses. interacted with each other. Perhaps crypto is gradually proving its superiority, so institutions that want to control it will always find all kinds of reasons to oppose the development of this field. I know many people are thinking the same thing as me when it comes to a financial space that is transparent and not governed by any one party. Perhaps one day we will look at money issues one by one. A simpler path is always preferable.

[Reid]

I don't consider them enemies as they had their usage. Cash is still a good use for privacy. You pay in cash then there's nothing link to you unless you provide the information yourself before you pay it with paper.
Bitcoin is still on the view as an asset. How could you even use it now without merchants accepting it for fear of volatility.
Both have usage for now and nothing should be erased. We are not in the era of Bitcoin as the main currency of all just yet. CBDC is a no for me, same with credit cards or whatever they offer in banks with your name on it.

[South Park]

I wouldn't consider fiat to be bad, but well the way the government manages inflation inevitably makes it look bad to us anw.

But still fiat has it's own advantages (but disadvantages may overwhelm those depending on gow you look at things), so I reckon CBDCs are the same. Being centralized has its own advantages (mostly qol stuff imo), but still, inflation would still fuck us up, but hey, if you know how to manage your finance I think you can minimize the damage it could cause.

How could you not consider it bad. I mean there are so many reasons why fiat is a bad thing to hold. If you have debt that you invested into some profitable thing, that is even better.

It is so bad that I rather have fiat debt and crypto profit, that way I know that I could pay my fiat debt eventually due to inflation and how life will become more expensive and the debt will look smaller whereas I could be forcing myself on paying that a lot easier and that would allow me to make a good return. This is just an example, doesn't mean that you should do this, it just means that you should not be considering fiat as a good thing to hold at all, that is the worst.

That is pretty much the formula used by the rich, they have debts in fiat but then they buy assets which makes them money which can then be used to eventually pay their debts, so while it is necessary to have some savings in fiat in the case of an emergency the size of those savings needs to be limited and once they reach a certain size then it is time to think about in which asset we would like to invest them, with bitcoin being one of the best options we have available at the time.

[hyudien]

I am definitely agreeing with this for sure. I have been in crypto only because I hate fiat, everyone keeps talking about how crypto could become better and how if we could just adjust crypto the more like fiat, and so forth, regulations, legal tender, laws, many other things but for me none of that matters.

I was in love with bitcoin the moment I saw it, a truly decentralized digital money that can't be controlled by the government, the "price" could be controlled, but the coin itself can't be touched. That's all I care about and that's all I want to know. There is no CBDC, no fiat, no other thing that would make me want to use over crypto.

Are you currently using fiat in your daily life transactions?

What's the point of hating fiat, when you get to know crypto then it's as easy as if the role of fiat has disappeared?

I don't deny the extraordinary role of bitcoin, but fiat can't be simply hated, if you yourself are still using it to pay for housing, food, drinks and gasoline for transportation.

You say you fall in love with Bitcoin, while the rules of the country where you live do not legalize Bitcoin. Are you going to switch places because there are only fiat options for transactions?

We just need to be smart in implementing it all and be in a safe position to be wiser in controlling the financial portion.

[Agbe]

I totally agree with you. Fiat and CBDC are all enemies to crypto currencies, they are to destroy crypto Currencies and take over the E-Currencies system or space. They are not for the good of crypto currency but for the goods of crypto currencies. Crypto is to help the youths financially stable while the fiat is for the benefit for the elites. Crypto Currency reduce or close the gap between the wealth or rich and the poor Masses. The poor citizens are using Crypto Currencies to provide for their daily bread. The Governments had used many ways to destroy crypto by calling the currency Scam, and fake but when they discovered that the currency is gaining ground more than the fiat currencies, they started banning it. But it is too late to ban crypto in any country.

[cheezcarls]

I am kinda in the “middle” when it comes to CBDCs. Although that it is a welcoming development, but CBDCs are centralized which means that the banks are still having the custody and control of these. But with crypto, as long we store them in non-custodial wallets, we are in full control and custody and no bank or government can do anything about it.

[Jawhead999]

Charts is a fact and can't be manipulated, but you can't predict the future by looking at the past chart/history. Keep in mind I'm also a Bitcoin enthusiast, but I wouldn't disagree if someone say Bitcoin is speculative or high risk asset since it's really have high volatility. There's no guarantee the price will keep increase, it will depends on the people who want to use it. Fiat is stable even it keep losing it's value due to money printer, at least the price doesn't change 10% in a day. It's centralized and not save haven, but all merchants accept fiat, in the end you still need fiat.

[Lucius]

Recently CBDCs is becoming a popular subject of discussion. Long story short, they are designed to be similar to cryptocurrencies but still with a lot of differences. They are totally centralized ad misleading to people.
As it's claimed, CBDCs are designed for safety and stability unlike bitcoin and other cryptocurrencies that are volatile and speculative.
But you know what?

The digital currencies of central banks are not cryptocurrencies at all, but only a digitized fiat that is being created to adapt finances to the digital age in which we live. Anyone who even thinks of putting Bitcoin in the same basket with any CBDC has no idea what they are talking about, least of all if they use terms like stability and security.

Media and the government tell you that it's a scam, a pyramid, terrorists and drug dealers favourite money, but no! This is a great escape. Just look at these two charts that clearly show the history of both currencies, the first one declines and the second one rises and after all of this, the government tells you that it's not safe and is dangerous!

We should learn from our mistakes!

All the mainstream media is under the control of the same people who control the politicians, and all of them together defend their value systems, so I don’t even expect them to say positive things about Bitcoin. Although Bitcoin has indeed shown through its short history that it can be a good insurance against inflation and can be extremely profitable, the government's position is mostly to warn potential investors that not all cryptocurrencies are equal and that there are many scams in the crypto world.

We should always keep in mind that investing in Bitcoin has possible benefits, but also risks that (let's be honest) most people today are not able to deal with. If we extend this story to altcoins, then it becomes a real nightmare for investors, but also for government services that people complain about after losing their money. Lest anyone misunderstand me, I am no fan of governments and what they do, but if we put ourselves in their position then it is quite logical that they cannot be pro-Bitcoin, it is the complete opposite of what they represent.

[Jody.Drummer]

Charts is a fact and can't be manipulated, but you can't predict the future by looking at the past chart/history. Keep in mind I'm also a Bitcoin enthusiast, but I wouldn't disagree if someone say Bitcoin is speculative or high risk asset since it's really have high volatility. There's no guarantee the price will keep increase, it will depends on the people who want to use it. Fiat is stable even it keep losing it's value due to money printer, at least the price doesn't change 10% in a day. It's centralized and not save haven, but all merchants accept fiat, in the end you still need fiat.

The problem is that nowadays there are so many naive people who say that they hate fiat but on the other hand still use it in their daily life. I mean when we say hate indirectly we don't use it but a lot of people say hate and don't support it but on the other hand they are still consumptive users of fiat which makes this funny.
We know that Bitcoin is something that is very good to be an investment, especially if you look at the movement, volatility and capitalization they offer but on the other hand this does not mean we can replace Fiat there.
We live where we are still locked up with it, hate fiat just because we feel disadvantaged but on the other hand still use it for everyday life, it becomes a naive person

[carlfebz2]

Charts is a fact and can't be manipulated, but you can't predict the future by looking at the past chart/history. Keep in mind I'm also a Bitcoin enthusiast, but I wouldn't disagree if someone say Bitcoin is speculative or high risk asset since it's really have high volatility. There's no guarantee the price will keep increase, it will depends on the people who want to use it. Fiat is stable even it keep losing it's value due to money printer, at least the price doesn't change 10% in a day. It's centralized and not save haven, but all merchants accept fiat, in the end you still need fiat.

The problem is that nowadays there are so many naive people who say that they hate fiat but on the other hand still use it in their daily life. I mean when we say hate indirectly we don't use it but a lot of people say hate and don't support it but on the other hand they are still consumptive users of fiat which makes this funny.
We know that Bitcoin is something that is very good to be an investment, especially if you look at the movement, volatility and capitalization they offer but on the other hand this does not mean we can replace Fiat there.
We live where we are still locked up with it, hate fiat just because we feel disadvantaged but on the other hand still use it for everyday life, it becomes a naive person

Hate on the sense that they could do something or anything because they are fully dependent on it since from the start and its true that people would neither be doing or hating something but still engaging or making

use of it because not all would really be having a good impression on how this current fiat or monetary system do works.Its better not to stress out yourself because even how Crypto would soar out but still
fiat would remain no matter how we do hate it and crypto would really be just remaining as an option or would be just an another choice.

[doomloop]

The problem is that nowadays there are so many naive people who say that they hate fiat but on the other hand still use it in their daily life. I mean when we say hate indirectly we don't use it but a lot of people say hate and don't support it but on the other hand they are still consumptive users of fiat which makes this funny.
We know that Bitcoin is something that is very good to be an investment, especially if you look at the movement, volatility and capitalization they offer but on the other hand this does not mean we can replace Fiat there.
We live where we are still locked up with it, hate fiat just because we feel disadvantaged but on the other hand still use it for everyday life, it becomes a naive person

I think they are only going with the flow. They can see that most people will say something bad about fiat, so they will do the same only to be on trend. I know this because im also doing it but that was before. I feel guilty inside so I stop it. There is no need to be afraid or ashamed of if you are still using fiat until now.

What can you do, you can't use cryptos directly. Fiat is still useful because on most countries they don't made cryptos as a legal tender yet, except only to the country of El Salvador. For now, crypto or bitcoin cant replace fiat, for the same reason like I said above but we don't know in the future, what if all countries convert like El Salvador?

[MinMan]

All the mainstream media is under the control of the same people who control the politicians, and all of them together defend their value systems, so I don’t even expect them to say positive things about Bitcoin. Although Bitcoin has indeed shown through its short history that it can be a good insurance against inflation and can be extremely profitable, the government's position is mostly to warn potential investors that not all cryptocurrencies are equal and that there are many scams in the crypto world.

Media has been gone for a long time, it has been gone decades ago but we just didn't realize it. With the increasing social media usage, we got to see both sides of a story and see what people really think. That way we managed to actually bring in some more idea on what we should think about.

Before that, we had tv channels most of which were owned by either same person or similar people with same interests, which resulted with the news being told in one way or another, it is either part A or party B and nothing more to it. With twitter and isntagram and facebook and so forth, we started to realize that maybe there could be other realities out there. Which helps crypto against CBDC for sure.

[naira]

Too apathetic to consider Fiat an enemy. Does this come from a wise mouth? Isn't the price of cryptocurrency eventually disbursed into fiat and you can pay the rent?
But I agree if what you mean is referring to privacy then you might say the enemy in terms of freedom. CBDC is just an uptake from conventional fiat turning to technology. Where the goal remains the same to keep control of incoming financial flows from cryptocurrencies to fiat. The government just doesn't want to lose control of your money holdings, so the CBDC was born as a fiat counterweight.