Cash is not trash

[Kakmakr]

No, I agree....

Fiat (cash) has many uses, for example :

1. Rolling up a banknote to snort Cocaine.
2. Stuffing a stripper's panties with $1 bills.
3. Buying drugs from the drug dealer on every street corner.
4. Paying bribes to government employees and making it almost anonymous.
5. Burning it when hyper inflation creates 1 Trillion dollar notes. (Zimbabwe)
6. Using it for toilet paper, when I run out.
7. Growing bacteria and experimenting with all the filth that it spreads. (Take a swap and grow some cultures and see what is on there)

These are just some of the interesting things that people can still do with cash, but I can add a lot of worst things if I really wanted to extend that list.  

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[Uruhara]

Fiat money is currently still the most dominant type of payment. So there's no reason to say Fiat is trash.

we will probably still use it in this century and even longer. even when the CBDC is published in every country around the world evenly it will not make the old fiat eliminated. especially if there are still many older people who are unfamiliar with digital technology. then fiat is the only type of payment they will use.

And when talking about stable coins, of course it is not safe to use and store for a long time. because stable coins do have quite a high risk.

And when CBDC has been issued in every country, we don't know what the government will do with stable coins.

[Cantsay]

The current situation in my country has made me realize how useful cash is. Imagine been without cash in a country that doesn't have so many people who understands how to use digital means to pay and also accept payments it'll make you rethink all the trash you have been saying concerning fiat, for now I think we need fiat as much as we need crypto in my country but as the adoption increases then we can tilt to the use of crypto as a payment method fully.

[imamusma]

The current situation in my country has made me realize how useful cash is. Imagine been without cash in a country that doesn't have so many people who understands how to use digital means to pay and also accept payments it'll make you rethink all the trash you have been saying concerning fiat, for now I think we need fiat as much as we need crypto in my country but as the adoption increases then we can tilt to the use of crypto as a payment method fully.

Without fiat, exchange transactions with the barter system can be expected, even today it still occurs frequently in traditional markets.
Do you think it's primitive? Of course it's rather primitive in modern times like this where trade already uses monetary media, we can even expected that some people no longer use physical fiat for their daily needs.

Cash is not trash in my country, even cash is king for daily trade transactions in traditional markets and even in modern markets. It has survived many years and may not be replaced in the long term given the ever-high demand and interest of users.

[bettercrypto]

I don't think I've ever read or heard on youtube that the Fiat is no longer important or that it's going to crash. is there
All countries know that in this era Fiat is important because it is often needed in people's lives.

        And Fiat cannot lose in these opportunities. And one more stablecoins are also okay as long as they are not under a centralized exchange because for me stablecoins under DEX platforms are more stable, this is just my opinion.

[slapper]

Isn't it hilarious how certain people disparage fiat currency while simultaneously believing stable coins to be the future? Stablecoins is shit. They can be easily manipulated by anyone, and they have no underlying value. And of course, fiat currency isn't all bad! It's actually quite useful. We can not live our day without fiat

Nevertheless, let's not forget that investing in bitcoin is clearly the smartest move. It's not just an inflation hedge; it's practically a religion. The more patience you have with it, the more grandiose the rewards. So, my two cents: keep a little fiat handy for small purchases, and pour the rest into bitcoin. You won't regret it, my friend.

[S A KHAIR]

No, I agree....

Fiat (cash) has many uses, for example :

1. Rolling up a banknote to snort Cocaine.
2. Stuffing a stripper's panties with $1 bills.
3. Buying drugs from the drug dealer on every street corner.
4. Paying bribes to government employees and making it almost anonymous.
5. Burning it when hyper inflation creates 1 Trillion dollar notes. (Zimbabwe)
6. Using it for toilet paper, when I run out.
7. Growing bacteria and experimenting with all the filth that it spreads. (Take a swap and grow some cultures and see what is on there)

These are just some of the interesting things that people can still do with cash, but I can add a lot of worst things if I really wanted to extend that list.  

What you said is not wrong, and there is one thing you did not mention. Your family and you are using fiat money every day, and without fiat your grandparents and parents wouldn't be able to support you today. I think you wouldn't be born if your family didn't use fiat, and fiat can do so much more. So, fiat is not trash, those who are using it every day but slandering it, they are trash.

[pixie85]

Some people will say that Fiat is trash and they keep all their money in stable coins, the truth of this is you are doing things wrong, the stable coins in crypto space are backed by nothing, they can vanish into thin air if the government doesn't want stable coins to exists.

IMO people who choose stable coins over cash are idiots. Stable coins are issued by a company, so you're adding another layer on top of government. You're making everything more difficult for yourself and taking more risk in the process.

Cash - you depend on the government and on your own ability to keep your money safe.
Money in the bank is one layer on top of it because instead of trusting the government and yourself you also have to trust the bank.
A stable coin sis the same but even worse because you're trusting a much smaller entity than the bank to keep your money safe. If the company like Luna goes bust so does your token and you have nothing.

The best out of all of it is bitcoin because you're subtracting all those secondary layers. All that's left is your ability to keep it safe.

I believe that all stable coins are easier to trample on by the government, more than other crypto projects in this space

That's correct. It's almost impossible to stop bitcoin, but it's very easy to stop a regulated exchange or a stable coin.

[Qiubell5]

Do not trash Fiat yourself when it's actually needy, crypto and Fiat must co-exists until the government decide to go digital with Fiat themselves, and Fiat is not trash.

Then who said fiat trash.
Fiat money is legal in every country, even crazy people don't want to say and throw away fiat, what's more for sane people, crypto is currently still being exchanged for fiat, not all shopping facilities and places in every country carry out transactions with digital currency, fiat is the main basis as a sale/purchase transaction of goods, crypto is only a means of digital currency to be traded on the internet, there is no crypto internet access there is nothing to do, fiat remains, if the internet in this world perishes, fiat will still be used.

We all know fiat is a source of needs and the economy of people around the world, the economy develops thanks to the exchange of fiat with goods, not with crypto, so whatever happens fiat remains as usual.

Of course fiat money is not trash. Fiat money is still very much needed even though sometimes there are many users of digital money. But fiat money still comes first. Had there been no fiat money, it would somehow be the exchange of goods or the current economy.

[SUPERSAIAN]

Cash is very important in daily life. Considering that prices are constantly rising, you need constant cash flow and you have to constantly spend. It might be a good strategy to make sacrifices, raise money, buy limited assets and wait patiently for this process. It seems that the inflation of the cash can no longer be stopped, the arrow has come out of the bow and it's been too long, the target is near.

[michellee]

I still use my Fiat as usual and don't think of it as trash. Even though I still use Fiat to buy crypto as my investment, I have no plans to leave Fiat. After all, we are in our country that uses Fiat in public places and we shop using Fiat even if there are options to use credit or debit cards or other digital transactions. And even though there will be inflation in many countries, people may still use Fiat unless all countries agree to use bitcoin as an alternative when the transaction can not use Fiat. That will change everything related to payments.

[skarais]

Cypto is new type of currency which in its journey has been adopted as legal tender in several countries.
After all, not all crypto are adopted as means of payment because most of their types have no real use cases. Of course, in this case bitcoin is a type of currency that is being discussed and adopted as means of payment, but in many cases this adoption is still contrary to regulations from jurisdictions between one country and another.

Fiat has been around longer than crypto, there's no denying that it has more use cases although some things are no better than bitcoin. Fiat is a centralized currency system, whereas bitcoin is a decentralized currency but both have real use cases. While I still need fiat to buy bitcoin or crypto, and I also sell bitcoin or other crypto to fiat and use fiat for everyday financial transactions.

[Aanuoluwatofunmi]

Cash is not a trash but not controlling the spending of it is a trash, there have been possible occassions whereby the cash in circulation is too much which gives everyone the easy accessibility to using it for many social devalues like trampling under feet while spraying during ceremonies, using bulky cash in paying for kidnapping ransom and many other forms of taking bribery, the government have discover these abd has taken steps to shut down the means through all of them were been perpetrated by reducing the cash and encouraging a cashless policy by the people, starting it may be rough because majority of the people aren't used to it, but with time, its going to be get used to.

[The Sceptical Chymist]

I would recommend anybody to invest their money instead, stocks and cryptos are two good alternatives.

That would be solid advice if (and only if) you're not going to need that money in a week or even a few months.  If you invest in stocks in my country and make capital gains, you pay a higher tax if you held the stock for less than a year--and that's on top of the risk of losing money because of the inherent risk of the stock market or crypto or whatever you choose to invest in.

What I'm saying is that keeping cash in a savings account that pays a lower interest rate than inflation makes sense as an emergency fund or just to keep money you know you're going to need.

And oh, if I had a nickel for every time I've heard "fiat is worthless" coming from the keyboards of gold/silver bulls or here on this forum, I'd be a wealthy man.  It isn't truly worthless until you're in a hyperinflation scenario.

[darewaller]

Holding cash has its own benefits. First of all, cash is a position. It provides you an opportunity to buy cheap assets and there are always cheap assets around. On addition, crypto isn't as adopted as we would like to believe. The world still runs on FIAT and even though it is centralized, it is way faster and easier to spend. Most people will just prefer to swipe their credit card instead of dealing with crypto. This might change in the future but it is the way it is for now.

Position? Hmm, not sure what does it means but I agree that holding cash is ensuring the convenient. It was like we are saving so that we can have something to use for laters. One good use would be for investing. Lots of assets are expensive but good thing cryptos are invented because cryptos are divisible which means we can be able to invest on them even at tiny amounts.

Cryptos are not a new thing anymore and the adaption for them is actually wide as one can imagine but the majority of the countries are of course still using a fiat as their main currency. Both fiats and cryptos has their own advantage. For those who know how to use both fiat and crypto they can say that cryptos are also fast and easy to use.

[ginsan]

Many of them have harsh arguments for fiat money and they oppose future inflation but it's not going to be one way if fiat is absolutely rubbish to own. Some countries still haven't legalized crypto as a legal means of buying things in real life but the government hasn't banned crypto to be owned by their people like what happened in my country.

So, in this case, a crypto player will definitely have stable coins in their portfolio, so it's not wrong to make a big decision when the market is falling, and it doesn't mean they have lost trust in fiat funds.

[serjent05]

Do not trash Fiat yourself when it's actually needy, crypto and Fiat must co-exists until the government decide to go digital with Fiat themselves, and Fiat is not trash.

I agree that Fiat is important.  I believe it offers more value than the majority of cryptocurrencies that were created just to collect money from investors.  If cash is trash then why people asked money instead of cryptocurrency.

I also one of those who agree that Casn and Bitcoin should co-exist.  Since Bitcoin isn't yet adopted some  then people can just enjoy the benefits of holding cash.

[bittick]

I always considers that each has their own advantage like how fiat is very convenient in being used for real life and the fact that its volatility isn't that significant compared with cryptocurrency in general could also means it could save your wealth from fluctuation, the fact that usdt and the likes are having market capitalization is because regardless it's form that is digitalized form of fiat, many considers converting their money to fiat still effective in saving their wealth from the volatility.

[STT]

Cash is not trash if you have taxes to pay, if you have immediate use of that cash in the financial year then retaining cash to pay fully all bills is very reasonable attitude.   Its a slight gamble to expect income to provide the bills payment going forward, sometimes income from various sources may falter so in that sense cash retention can be vital.

I know Kakmakr meant 2. and 3. as a joke but actual cash economy in drugs legal and illegal and various other immediate services is a large part of economic turnover for the most common elements in the economy.   If it matters to a million or more people then it matters, beer and coke matter and the price being affordable is a good measure of economic outlook.
    Someone on the same basis proposed the Big Mac price index to measure inflation across the world in the most simple immediate way, how people eat or are able to eat conveniently in a very easily comparable priced way.   Is Big Mac a proper meal is not the important thing, its the regular common instance of a transaction which cash is describing within the economy.


I fully agree people should not hold all value in one asset type.  Own some of each, own a store of food even that keeps over time and is a kind of usable commodity.   Dont try to speculate too much on one thing as any commodity or asset can reset in its price and supply can vary by harvest for food or other dynamics in an economy.
   We can probably all agree having all cash is a mistake and will make a person poorer, governments dilute value heavily due to too much debt and very few countries protect their people from inflation with any great success.

[el kaka22]

I would say that cash is irrelevant these days. Look at the world and how the money exchanges hands, I bet that even crypto is bigger than cash at this moment, because not many people really use cash, and that's the issue. Sure we use fiat, but fiat and cash are not the same things, you could bank wire transfer some fiat, or spend your credit card to buy something which is quite common these days, but you can't really make any type of cash interaction that easily, it has to be face to face.

This is why I believe that cash is already trash, it was trash even if crypto didn't existed, it just doesn't make sense to me at all to use it at this day and age.