Cash is not trash

[Smartprofit]

Cash, in my opinion, is a very important element of ensuring the confidentiality of personal life. 

If you constantly pay for goods (works, services) using a bank card, then your bank, as well as other interested parties, will know absolutely everything about you.  They will know all your daily habits, routes of your movements, your friends and acquaintances, lifestyle and range of interests. 

At the same time, the right to privacy is a basic (natural) right of every person.  With cash, you can protect your right to privacy. 

You can also use an anonymous and private coin like Monero for settlements.  But cash is currently a much simpler and more familiar financial instrument to ensure the anonymity and confidentiality of transactions.

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[CPNpr]

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.

I agree with you that it is possible to change fortunes and achieve success with Bitcoin.  There are many people who do not want to see Bitcoin well, but when they slowly understand the interesting aspects of Bitcoin, they prefer Bitcoin for fortune development.  People can change themselves very easily because Bitcoin is a real payment.  This is what it stands for in terms of its use.  Bitcoin is at the top of the current technology

[hannahB4]

I have never heard anyone literarily referring to fiat as trash unless that person is living on another planet. I also witness the scarcity of cash but the main reason Nigerian government gave was to add value to the currency but making new currency and taking in the old to limit the number in circulation but didn't see their plan work till today.

[samcoin]

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.
 

I think the whole world is moving into the digital era. Despite the event you mentioned, we must look far as the world is changing fast and almost everything we buy and every service we use will be available through the internet, so using fiat currencies won't be suitable in these cases though. Indeed, a lot of countries have announced their plans to issue digital versions of their currency, and after that the usage of fiat currency should decrease until it disappears.

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.

I don't agree with you regarding this point. Some stable coins have proved reserves, and they issue financial reports regularly. In addition, they are a necessary factor in this volatile market. For example, if you want to sell your Bitcoin but don't want to leave the market, stable coins will offer the solution and make you tons of deals with banks in case you want to buy again. Nonetheless, dealing with stable coins looks much better than putting money in banks and losing it all, as the stable coins give you the opportunity to sell them fast in case a drop in value happens, while banks will hold your money for unknown period.

[kak uli]

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.

what we need to know is that every cash is guaranteed and there is full recognition from the state or government so that it continues to be used and not jammed, if there is 100% inflation then the central bank will carry out an easy policy, this is of course different from a decentralized system which requires large capital to dominate the market.

[fadhilz123]

what we need to know is that every cash is guaranteed and there is full recognition from the state or government so that it continues to be used and not jammed, if there is 100% inflation then the central bank will carry out an easy policy, this is of course different from a decentralized system which requires large capital to dominate the market.

Indeed, these two things are very different because they are formed from different ways. cash can only be used as a medium of exchange and its value is always fixed and protected by the state. But you will only feel one of the benefits if you continue to rely on cash at this time. While this decentralized system is a system that has strengths and advantages.

Decentralization is an effort made by the government in the context of handing over central government policies to local governments in order to regulate their respective regions. In short, decentralization is the granting of authority or responsibility from the central government to regional governments. So this is of course very different from the cash system which cannot be linked to decentralization at all because its function and use are different. Source: gramedia.com

[adzino]

Not sure why do people come to such "cash isn't trash" conclusion, while I bet they are already using cash for making 99% of you daily transaction. Cash definitely has its uses, and both fiat and crypto can coexist together, without interfering or disrupting anything. Like you said, we all started with fiat when we bought our first crypto, and in some situations, cash is just more convenient right now than using crypto. Imagine waiting for more than 10minutes for a network confirmation only for a cup of coffee.
But I get why some people exaggerate and come to that conclusion. We can't ignore the disadvantages of fiat currency. Inflation is a huge issue, and it can really hurt people's savings over time. Plus, with physical cash, there's always the risk of it getting lost, stolen, or damaged.

[Wong Gendheng]

Cash that gets full support from the state will not crash, in contrast to the decentralization system that depends on the strength of the market and stock, Cash uses the concept of centralization so that the central bank can control all things or steps needed so that cash can survive.

[wmaurik]

Cash that gets full support from the state will not crash, in contrast to the decentralization system that depends on the strength of the market and stock, Cash uses the concept of centralization so that the central bank can control all things or steps needed so that cash can survive.

Cash can indeed survive with several factors and clear reasons, because Cash always has good control from the governments of their respective countries. But despite all that, one can't expect much of a return on cash unless it's just about its enduring value. And besides that, each system also has its own advantages and disadvantages so that this can also make each currency user have choices that suit their individual needs.

[Gormicsta]

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.

However, if governments create their own digital currency, the crypto environment may shift. For one thing, it might lower demand for stablecoins by allowing consumers to use government-backed digital money instead. It may also make it more difficult for cryptocurrencies to compete with government-backed digital currencies, which have more authority and stability. On the other side, it may raise awareness of digital currencies and make people more comfortable with the concept of utilizing them, which might be beneficial to crypto overall. And because it is digital, it has the potential to be utilized for configurable money and smart contract agreements.

[Fortify]

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.

You have given a very confused and muddled explanation. First that your country seems to have failed in the role out of a new version of the currency, or there are limited supplies of an existing currency? Then you refer to creating transactions through digital currency, presumably you mean things like bank transfers or credit card payments? Then you rail against stablecoins and it is hard to tell if you're supportive of any form of crypto whatsoever. It's really hard to decipher the message that you're trying to get across. If you cannot access physical cash then what good is it to you? In that circumstance cash is trash because the supply does not meet the simple needs of the demand.

[btc78]

I have never heard anyone literarily referring to fiat as trash unless that person is living on another planet.

Maybe delusional crypto users will tell you that fiat is overrated and should not be used anymore but as much as we all believe in what crypto can do we also can not deny that we would not be able to go through our whole life without using fiat in this world

unless your country has 100% adopted bitcoin (in which no one has done yet) then you have no choice but to use fiat and so for the mean time fiat is not trash

[NotATether]

Hi @YoSHIE , many new crypto fan boys believed that stable coins are better than Fiat money, I have read this many times online and people in my country that are new to crypto also believe the same.

Stablecoins are hot garbage and there is not a single one which can be proved to be 100% backed by the tracked currency. Especially when they can just mint more of it when they want to. This is essentially the reason why the SEC forced Paxos to shut down its BUSD minting operation and why Binance had to kill it.

Compared to buying stablecoins, It is much better to go get the actual currencies themselves, of course for that you will need a bank account and then to do KYC on at least one OTC trading platform if you really have to do that. But there are still some cases where they are the only reasonable option to pay for stuff because the alternatives are $30 fee Ethereum and $80 fee Solana or similar (as you may have guess, no bitcoin support on these platforms.)

[fadhilz123]

Maybe delusional crypto users will tell you that fiat is overrated and should not be used anymore but as much as we all believe in what crypto can do we also can not deny that we would not be able to go through our whole life without using fiat in this world

unless your country has 100% adopted bitcoin (in which no one has done yet) then you have no choice but to use fiat and so for the mean time fiat is not trash

Currently, the use of fiat in life is only to buy goods and services that we need every day, because apart from that, there seems to be nothing that can be relied on through fiat. Well, because there are still things that everyone can rely on via fiat, I think even if we live in a country that has 100% adopted Bitcoin. The use of fiat will still exist and will even remain easier to spend than using Bitcoin to exchange for goods and services, because Bitcoin is much more difficult for everyone to get than fiat in everyday life, so Bitcoin will still not be easy to sacrifice

But on the one hand, I also agree that fiat is not rubbish because it can still be used by many people to finance our lives. However, what we need to know now is that fiat is no longer suitable for long-term storage, unless we collect it just to get something more valuable, or in other words, for investment capital in more valuable assets. Because fiat cannot maintain its value forever, especially in today's inflationary conditions, of course it will be very difficult for everyone to only rely on fiat without other investments.

[angrybirdy]

Maybe delusional crypto users will tell you that fiat is overrated and should not be used anymore but as much as we all believe in what crypto can do we also can not deny that we would not be able to go through our whole life without using fiat in this world

unless your country has 100% adopted bitcoin (in which no one has done yet) then you have no choice but to use fiat and so for the mean time fiat is not trash

Currently, the use of fiat in life is only to buy goods and services that we need every day, because apart from that, there seems to be nothing that can be relied on through fiat. Well, because there are still things that everyone can rely on via fiat, I think even if we live in a country that has 100% adopted Bitcoin. The use of fiat will still exist and will even remain easier to spend than using Bitcoin to exchange for goods and services, because Bitcoin is much more difficult for everyone to get than fiat in everyday life, so Bitcoin will still not be easy to sacrifice

But on the one hand, I also agree that fiat is not rubbish because it can still be used by many people to finance our lives. However, what we need to know now is that fiat is no longer suitable for long-term storage, unless we collect it just to get something more valuable, or in other words, for investment capital in more valuable assets. Because fiat cannot maintain its value forever, especially in today's inflationary conditions, of course it will be very difficult for everyone to only rely on fiat without other investments.

Exactly! Fiat money is not intended for long term storage because as far as I know, there are times that they only give limited date and year for fiat to be used because it will no longer have a value. Better to save it in bank if you will use it for paying goods and services since majority of businesses and some services nowadays are accepting card payments and bank transfer.
it will be a waste if you just save your money onhand or via bank without making a profit, so my only advice is that if you save money, just overestimate the amount and never put 100% of the funds into savings only, we need to have at least a minimum value of investment, I know that not everyone has the ability to provide money for their investment because they only earn exact amount from their work, but if there is ever an excess or a sudden amount of money comes, let's set aside a money for our investment so that it can grow our money instead of keeping it in the bank for a long time without increasing the value.

[harapan]

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

The economy of some developing countries is cash driven. Their financial transaction is mostly through fiat because online transactions are either low or non-existing. In such countries, you need cash to buy almost everything so keeping your money in cryptocurrencies might do more harm than good. Bitcoin can be used as a hedge against inflation or an investment tool but in these countries fiat is king. Government policies also affect the use of cryptocurrencies. Crypto-friendly governments will also promote the use of cryptocurrencies. And from some indications, the Nigerian government is not friendly.

Everyone needs cash,Cash in some countries is like a pass code,and almost every person in town needs to have Cash.Its an instrument for accesibility,safety,and during insecurities,people tend to hold more cash in other to prepare for what lies ahead of the future.Cash is seen and available to everybody,thats why its often referred to as public money.

However,cash plays a very significant role in today's economy just as bitcoin does.The truth is that fait and digital currency,bitcoin,will continue to exists and operate with respect to thier co-existence,and they're both useful currencies to speak of and utilize.Although,some countries prefer fait over bitcoin,and cash has it all like in popularity,dominamce,influence e.t.c. In essence,I totally agree with this topic that cash is not trash and cash does not crash.

[junder]

Everyone needs cash,Cash in some countries is like a pass code,and almost every person in town needs to have Cash.Its an instrument for accesibility,safety,and during insecurities,people tend to hold more cash in other to prepare for what lies ahead of the future.Cash is seen and available to everybody,thats why its often referred to as public money.

However,cash plays a very significant role in today's economy just as bitcoin does.The truth is that fait and digital currency,bitcoin,will continue to exists and operate with respect to thier co-existence,and they're both useful currencies to speak of and utilize.Although,some countries prefer fait over bitcoin,and cash has it all like in popularity,dominamce,influence e.t.c. In essence,I totally agree with this topic that cash is not trash and cash does not crash.

To survive, of course we need money for daily life transactions, whether in cash or digital form. because with current technological developments, any transaction can sometimes be done via a digital wallet. but that's not a problem, because it really helps too, now imagine when there was no digital wallet where we would give money or receive money from people far away, it would be very complicated if we had to travel first. In fact, in my opinion, the future of each individual's country or society depends on money. If we have enough money, perhaps the future will be good as well as the country.

indeed cash is not rubbish, because we need cash in everyday life whether it is to provide a living for children or provide wages for other people, maybe it is still better if there is no digital wallet but there is cash, but if it is reversed maybe it is scary, when there is no cash but only digital wallets it seems like it will be difficult occasionally with transactions because not everyone has a digital wallet.

[arwin100]

I have never heard anyone literarily referring to fiat as trash unless that person is living on another planet.

Maybe delusional crypto users will tell you that fiat is overrated and should not be used anymore but as much as we all believe in what crypto can do we also can not deny that we would not be able to go through our whole life without using fiat in this world

unless your country has 100% adopted bitcoin (in which no one has done yet) then you have no choice but to use fiat and so for the mean time fiat is not trash

They just over reacting on what they can see on fake guru's saying cash is trash since maybe those people just trying to go after on their listeners. But if we came up on more realistic way we really need cash/fiat since we can't buy any goods or basic needs by using crypto since fiat is more used and been accepted anywhere. This people just overthinking to much that there's something can eliminate fiat at the moment. I believe that crypto is great but it cannot eliminate fiat/cash since for sure the authorities will not let it happen. Also we can't use bitcoin anywhere and we need cash to fulfill our needs that's why people need to do reality check if those people saying cash is trash is still relevant since if they say something more unrealistic then its good for people to stop listening on those crazy guys.

[Gaza13]

I have never heard anyone literarily referring to fiat as trash unless that person is living on another planet. I also witness the scarcity of cash but the main reason Nigerian government gave was to add value to the currency but making new currency and taking in the old to limit the number in circulation but didn't see their plan work till today.

Maybe I think someone who says fiat is rubbish is an expression or term that is difficult for people like us to understand. What I understand is that the term waste is probably that fiat is no longer reinforced with gold and Also don't put it in bank savings for longer. In essence, the government also plays its role so that people's money is eroded by inflation. Fiat is just a belief made by a government.

True money is only (gold) which was created by the Almighty Creator, namely God. We can illustrate that if our money was split into 4 parts, would the money still sell or be worth buying and selling in supermarkets or supermarkets? The answer would definitely be no, right? We are back again with God's creation, namely gold. What if the same thing were made into 4 parts of gold, of course it could still be bought and sold, right?

The bankers of ancient times were much smarter in how they were able to conquer the world until now. By creating fiat and they are looting gold all over the world. Indeed, we have been used to making transactions with fiat for years, we cannot avoid this.

[YUriy1991]

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.

Fiat and krypto certainly have their own advantages and disadvantages, of course, the role and function of fiat currencies is quite meaningful and still rekevan until now, for example, if we want to trade in the crypto market, we must first deposit using fiat and then be able to buy the coins we want and then trade, besides that fiat is also the foundation of the global economy both and is generally used to buy daily necessities.

Indeed, Fiat is also recognized to be quite vulnerable to inflation, devaluation and dominant control from the government and in the case of frequent use fiat is highly prioritized as a means of payment and options and certainly not allowed because it is bound by law. I think so. however, with the development of the Transition to Digital which is growing rapidly, it is now appropriate to transform Blockchain financial technology, Where this innovation is enough to help us later and then the space for integration will definitely meet by itself.