Cash is not trash

[wmaurik]

But bitcoin is often used for investment rather than payment because its value fluctuates and the price is unpredictable, let's say that you have bought some btc at a price of $ 25k in February and now the price is falling at $ 20k, so you definitely won't convert it to fiat or buy any item with btc because the price is now reduced, unless you are not an investor who only buys items using btc any time. But fiat users will not be replaced or lost even if there are many digital payments or using crypto payments.

I still really love Bitcoin so I will still save Bitcoin instead of spending it to get other things. Because as long as I can keep Bitcoin and can get the things I need using fiat, I will never bother Bitcoin in my wallet and will continue to keep it for long-term investment because it is true that Bitcoin is more suitable for investment than for paying something even though it could be done by some business people.

And now I'm starting to see joy when I see an increase in the price of Bitcoin that has returned to the market, because it is a very good improvement and is also expected by some investors this year. So I won't be spending my Bitcoin on anything at this point other than just investing.

[blockman]

In my opinion cash will continue to survive and will never crash under any circumstances

Don't be too confident about it saying that it will never crash. Wherein, there have been worries that have been sorted out on how it's possible to crash and fall.

in fact we often hear that there are countries that have inflation up to hundreds of percent per year but these countries still maintain cash, this is because it is difficult to replace cash with any system,

Yeah, those countries that have hyperinflation still have some cash but their cash on that point is totally worthless. That's why they're looking for some other medium of exchange and payment and one of them is through US dollars. In Venezuela, where it's known to be one of those countries that are experiencing hyperinflation many transactions there are happening in the form of US dollars and digital. It's because by bringing even just $5 worth of cash through their v.bolivars, you need to bring a lot of it as in heavy forms and sacks of cash just to pay for the goods you're about to purchase.

if we think cryptocurrencies can replace cash, there will be many new problems that will arise.

It can be the best alternative for those countries that suffers hyperinflation but I don't see any problem on it but maybe, it's related to the government that will create that problem you're saying.

[LogitechMouse]

~
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.

When it comes to stable coins, just remember what happened to UST back when Terra Luna has been attacked causing the project to be destroyed in just a matter of days. Just remember what happened to USDC days ago when it de-pegged from 1$ to as low as $0.87. We've also seen DAI got de-pegged as well. I guess this is enough proof to say that stable coins aren't really pegged to a dollar.

I don't know why investors are preferring holding stable coins than cash. Maybe the potential interest that they can get while holding it in some wallets or exchanges is the reason of it, but overall, I don't think that's a good thing to do.

I can't imagine our world without any cash. Yes digital cash is becoming more popular already and the number of people using it exploded especially during the pandemic where there is a time where establishments aren't accepting physical cash because it might be a potential carrier, but overall, cash is still needed, and it isn't trash at all.

[soap94]

It is difficult to definitively state that cash is the most important element, as different people and contexts may place varying levels of importance on different factors. However, cash is often considered a crucial element in many aspects of personal and business finances, for several reasons.


Firstly, cash provides liquidity, meaning it can be readily converted into other forms of value, such as goods, services, or other assets. This liquidity allows individuals and businesses to quickly respond to financial needs or opportunities, and helps ensure financial stability. You just need to earn money and that's it. I am fed up with people running our country and economy -we're not safe at all! Make sure you know how to make money online, a side hustle or a small business you have.

Secondly, cash can act as a measure of financial health and stability, as having adequate cash reserves can provide a sense of security and ability to weather unforeseen financial challenges.

Thirdly, cash can provide flexibility and freedom, allowing individuals and businesses to make decisions and take actions without being overly constrained by financial limitations

I would personally recommend to pay extra attention to https://richads.com/blog/domain-redirect-traffic/ as one of the methods which can help you to earn money online.

[Marvell1]

But bitcoin is often used for investment rather than payment because its value fluctuates and the price is unpredictable, let's say that you have bought some btc at a price of $ 25k in February and now the price is falling at $ 20k, so you definitely won't convert it to fiat or buy any item with btc because the price is now reduced, unless you are not an investor who only buys items using btc any time. But fiat users will not be replaced or lost even if there are many digital payments or using crypto payments.

I still really love Bitcoin so I will still save Bitcoin instead of spending it to get other things. Because as long as I can keep Bitcoin and can get the things I need using fiat, I will never bother Bitcoin in my wallet and will continue to keep it for long-term investment because it is true that Bitcoin is more suitable for investment than for paying something even though it could be done by some business people.

And now I'm starting to see joy when I see an increase in the price of Bitcoin that has returned to the market, because it is a very good improvement and is also expected by some investors this year. So I won't be spending my Bitcoin on anything at this point other than just investing.

Many people say that it is necessary to use bitcoin as a payment method because it is the best way for bitcoin to become popular. That is absolutely right, but honestly, I don't think anyone wants to spend their bitcoin because everyone knows that the value of bitcoin in the future is huge. Nobody doesn't want to be rich and have a lot of money, so I don't want to use or spend bitcoin to buy something either. I feel it's a waste, as we already have fiat to help us do it.

[errorcode99]

In my country presently, we know how important cash has become, the government decide to renew our Fiat currency and it's not in circulation yet, for some reasons, some people believe that it was intentional because they don't want some bad actors to use Fiat to rig the ongoing election in the country.

But since all this mess have started, many people are suffering, and I as a person have no hold the new fiat Note because I can't get a hold of one yet, and just because many stores prefer Cash than digital transfer, this have make me see how important Fiat currency can be.

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.

I believe that all stable coins are easier to trample on by the government, more than other crypto projects in this space, Fiat has it's usefulness, let's stop deceiving ourselves, the first time I ever purchased Bitcoin I use Fiat and I believe this is the same as everybody on here, unless you mine your own Bitcoin or get paid in Bitcoin working online.

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.

Say for example, you are transporting to the office and paying via cash, what happens if you don't have cash and you want to make a transfer or send crypto to the driver's account. It would only make someone arrive late and maybe not even go anywhere. What if the driver does not have a bank account or a crypto wallet?

Not many of our parents who make a living know the intricacies involved in online transactions especially when it comes to cryptocurrency. This is one good reason why cash will still be king. Cash will never go to waste unless governments decide to recognize cryptocurrencies as legal tender and also do their best to educate the general public about implementing a strict cashless policy.

[Paul Pogba]

The factor that makes cash always used is because it's easy, fast and of course legal, the state will fully guarantee cash so that no one will hesitate to use cash, it is natural that any idea to replace cash will never work because there is no better transaction system than cash.

[serveria.com]

In my country presently, we know how important cash has become, the government decide to renew our Fiat currency and it's not in circulation yet, for some reasons, some people believe that it was intentional because they don't want some bad actors to use Fiat to rig the ongoing election in the country.

But since all this mess have started, many people are suffering, and I as a person have no hold the new fiat Note because I can't get a hold of one yet, and just because many stores prefer Cash than digital transfer, this have make me see how important Fiat currency can be.

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.

I believe that all stable coins are easier to trample on by the government, more than other crypto projects in this space, Fiat has it's usefulness, let's stop deceiving ourselves, the first time I ever purchased Bitcoin I use Fiat and I believe this is the same as everybody on here, unless you mine your own Bitcoin or get paid in Bitcoin working online.

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'm not against cash. Cash helps you keep your anonymity and privacy. That's why many countries are trying to get rid of cash ASAP.
Digital money is much much worse.
 
As to the savings and investments, it's much better to keep em in Bitcoin not stablecoins. Be your own bank!

[Smartprofit]

If you watch any movie about gangsters, you will see that in 90 percent of the plots, wealth is represented by cash (for example, a diplomat stuffed with 100 dollar bills).  This is no coincidence. 

Cash is the best way to avoid control over your transactions. 

However, none of us plans to commit crimes?  Yes, absolutely right! 

However, at present, people are faced with a new threat - the governments of all countries want to totally control all monetary transactions.  At the same time, the civil law principle of the presumption of innocence is ignored.  This means that the rights and freedoms of people (in particular, the right to property) are under threat.  People are deprived of the right to freely dispose of their money. 

However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is of great value.

[HajiBagi]

I agree with you; anyone who believes fiat is worthless hasn't lived in a nation where it is important. I recall how difficult it is for people in my country today to obtain cash so they can provide for their families and themselves. In one instance, a woman passed away while giving birth, and the hospital demanded payment in cash. Despite the husband was a very successful investor and wealthy man, he was helpless to save his wife life. I realized then that cryptocurrencies had no value in some places.
My point is that just because we are investors and have bitcoins does not mean that fiat is worthless, because there are countries that value fiat than bitcoin.

[karmamiu]

If you watch any movie about gangsters, you will see that in 90 percent of the plots, wealth is represented by cash (for example, a diplomat stuffed with 100 dollar bills).  This is no coincidence. 

Cash is the best way to avoid control over your transactions. 

However, none of us plans to commit crimes?  Yes, absolutely right! 

However, at present, people are faced with a new threat - the governments of all countries want to totally control all monetary transactions.  At the same time, the civil law principle of the presumption of innocence is ignored.  This means that the rights and freedoms of people (in particular, the right to property) are under threat.  People are deprived of the right to freely dispose of their money. 

However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is of great value.

It all ends up that government doesn't want their authorities to be threatened. IMO, my statement may be worth a cent, but somehow the reality we saw today is closely similar to what I said about being threatened. We've already heard some reasons why government is wary and don't want to recognize bitcoin and other cryptocurrencies, and I'm pretty sure that it is already common for you guys to hear this "they want to monopolize everything" statement. While they wanted to seize bitcoin but couldn't, instead of taking over it, they'd just make use of their authority to prevent people using that. So where does it end? people will still follow the rules or else they will be punished.

Just like the situation of the OP, our country too doesn't have clear stand to what bitcoin and cryptocurrency is. In short, they are neutral, but they didn't forget to warn us about the risks, but still in the end on my personal experience, slowly bitcoin in our country became like any other foreign currencies that we need to be taxed upon since it is quite hard to withdraw bitcoin anywhere without revealing you are a user of such currency. In conclusion the importance of FIAT here in our country is the same level as bitcoin since both of them couldn't exist without the other same even if you will do the opposite as to buy bitcoin you will still need that fiat.

[siniminomorocomunisakito]

If you watch any movie about gangsters, you will see that in 90 percent of the plots, wealth is represented by cash (for example, a diplomat stuffed with 100 dollar bills).  This is no coincidence. 

Cash is the best way to avoid control over your transactions. 

However, none of us plans to commit crimes?  Yes, absolutely right! 

However, at present, people are faced with a new threat - the governments of all countries want to totally control all monetary transactions.  At the same time, the civil law principle of the presumption of innocence is ignored.  This means that the rights and freedoms of people (in particular, the right to property) are under threat.  People are deprived of the right to freely dispose of their money. 

However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is of great value.

While it may be true that cash can offer some degree of privacy and control over transactions, it is important to remember that using cash is not without its drawbacks. First, cash is easy to lose or steal, and once it's lost, it's less likely to recover. In addition, the use of cash can make it difficult to track expenses and manage finances, because there are no records of transactions.

Also, while the government's desire to control monetary transactions may seem intrusive, it is important to consider the reasons behind such actions. For example, monitoring financial transactions can help prevent money laundering, tax evasion and other illegal activity.

and the ongoing phenomenon that cash is being used less and less in many parts of the world, as more and more transactions are done digitally. This trend is likely to continue as technology continues to evolve and more people become comfortable using electronic payment methods.

[DiMarxist]

Some countries are not using bitcoin, because bitcoin is legal tender,is only few that now cryptocurrency, cash is the best way to avoid control over your transactions. Our country too doesn't have clear stand of what bitcoin and cryptocurrency is.And I don't know in the future, maybe my country will spend or use bitcoin or cryptocurrency like foreign currencies.That's why many countries are trying to get rid of cash ASAP. Cash will never go waste, unless the country make cryptocurrency legal tender.Bitcoin is not legal tender in the world,
However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is a great value.

[Tony116]

If you watch any movie about gangsters, you will see that in 90 percent of the plots, wealth is represented by cash (for example, a diplomat stuffed with 100 dollar bills).  This is no coincidence. 

Cash is the best way to avoid control over your transactions. 

However, none of us plans to commit crimes?  Yes, absolutely right! 

However, at present, people are faced with a new threat - the governments of all countries want to totally control all monetary transactions.  At the same time, the civil law principle of the presumption of innocence is ignored.  This means that the rights and freedoms of people (in particular, the right to property) are under threat.  People are deprived of the right to freely dispose of their money. 

However, the use of cash can restore this right to people.  Therefore, in the modern world, cash is of great value.

While it may be true that cash can offer some degree of privacy and control over transactions, it is important to remember that using cash is not without its drawbacks. First, cash is easy to lose or steal, and once it's lost, it's less likely to recover. In addition, the use of cash can make it difficult to track expenses and manage finances, because there are no records of transactions.

Also, while the government's desire to control monetary transactions may seem intrusive, it is important to consider the reasons behind such actions. For example, monitoring financial transactions can help prevent money laundering, tax evasion and other illegal activity.

and the ongoing phenomenon that cash is being used less and less in many parts of the world, as more and more transactions are done digitally. This trend is likely to continue as technology continues to evolve and more people become comfortable using electronic payment methods.

Nothing is perfect, everything has its downside, you use bitcoin, a digital currency, it can still be attacked by viruses and hackers.

The world is moving towards digital, but the complete elimination of cash is not going to happen anytime soon, I think it will take quite some time to do this. But as of now, cash is still king because you can use it and be accepted anywhere, especially where the internet cannot reach you. Cash is still our savior in those cases.

[Sayeds56]

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.

You made an interesting point that fiat and crypto should co-exist which in my view is very practical approach. Fiat has been in use as method of payment since decades hence, it will take time before people start accepting new forms of payment.  Generally people refer fiat as "trash" in the context of its consistently decreasing value which reduces our purchasing power and it becomes difficult to afford basic needs of life.

[Mario Yamasaki]

Cash will be fully supported by the state, as long as the state is still in power it will take care of cash, this is because cash is a strength of the state, although sometimes the value of cash decreases but the government can make policies such as tightening circulating stock so that automatically deflation occurs so that the value of cash up again.

[Fesatmas]

And now I'm starting to see joy when I see an increase in the price of Bitcoin that has returned to the market, because it is a very good improvement and is also expected by some investors this year. So I won't be spending my Bitcoin on anything at this point other than just investing.

Many people say that it is necessary to use bitcoin as a payment method because it is the best way for bitcoin to become popular. That is absolutely right, but honestly, I don't think anyone wants to spend their bitcoin because everyone knows that the value of bitcoin in the future is huge. Nobody doesn't want to be rich and have a lot of money, so I don't want to use or spend bitcoin to buy something either. I feel it's a waste, as we already have fiat to help us do it.

Yes, there's no doubt about it, today no one treats bitcoin like currency, on average bitcoiners instead make bitcoin a long-term investment asset instead of using it as currency like fiat which is used daily, that's a fact, me too so do the same thing.
Maybe because we are used to spending fiat money and we treat bitcoin as an investment asset which causes us not to want to transact using bitcoin, I think today it is still dominant to use fiat with all its bad things in terms of the system, but I do transactions because it is considered easier and maybe also out of habit.

[BVeyron]

Cash will be fully supported by the state, as long as the state is still in power it will take care of cash, this is because cash is a strength of the state, although sometimes the value of cash decreases but the government can make policies such as tightening circulating stock so that automatically deflation occurs so that the value of cash up again.

The real power of cash is in psychologic effect of having it. Most attempts to somehow control crypto or at least determine the definition of cryptocurrencies in any country has psychological limit: most people in the world don't even know anything about cryptocurrencies, while those who have some BTC still use it only in a way to raise fiat. Also, there is a possibility to include elements of blockchain technologies in fiat bank systems in order to combine the psychological power of fiat and reliability of blockchain products.

[Sayeds56]

Cash will be fully supported by the state, as long as the state is still in power it will take care of cash, this is because cash is a strength of the state, although sometimes the value of cash decreases but the government can make policies such as tightening circulating stock so that automatically deflation occurs so that the value of cash up again.

The real power of cash is in psychologic effect of having it. Most attempts to somehow control crypto or at least determine the definition of cryptocurrencies in any country has psychological limit: most people in the world don't even know anything about cryptocurrencies, while those who have some BTC still use it only in a way to raise fiat. Also, there is a possibility to include elements of blockchain technologies in fiat bank systems in order to combine the psychological power of fiat and reliability of blockchain products.

It is true that in many parts of the world people hardly know anything about Bitcoin and its potential to become a leading method payment. However, as it happens with every new invention or technology that people take time to understand it and eventually accept it when they realize its worth, benefits, and its potential to transform their fortune, then obviously they will adopt it.

[Bushdark]

The factor that makes cash always used is because it's easy, fast and of course legal, the state will fully guarantee cash so that no one will hesitate to use cash, it is natural that any idea to replace cash will never work because there is no better transaction system than cash.

cash is legal and it is many used for transactions become the digital currency comes onboard. Till when the world countries would decided to do something about this, the use of cash would still continue to be in existence even though we still have options of making transfer to pay for goods and services especially when we have limited cash to pay out. Everything we are in is an era and when this era pass by another one would comes in when people would be able to make transaction legally and without stress with digital currencies.