"Fiat is hopeless"

[Text]

The situation with Fiat may be disappointing, but there's nothing we can do about it. We just need to learn to live with this. It's likely that persistent inflation will force people to invest in Bitcoin and Gold. They will avoid Fiat whenever possible. Gold has been surging lately, so I guess this is already happening behind the scenes.

At some point, I believe governments will reset the global economy, bringing us back to "ground zero". Inflation will ease, but it won't disappear. Without inflation, Fiat will simply be hoarded like a store of value. Just like it's the case with BTC and Gold these days. Inflation is more like a feature than a bug. Only if it stays low (controlled). If it rises excessively, that's when it becomes a real problem. We can never tell what will happen in the future. So here's hoping for the best.

Fiat isn’t inherently hopeless but it’s certainly flawed by design since it relies on trust in policymakers who don’t always act responsibly. Bitcoin offers a compelling alternative because it removes that trust element, monetary policy becomes math and code instead of politics but total replacement of fiat is unlikely at least in our lifetime. What’s more realistic is a gradual coexistence, Bitcoin and other decentralised assets becoming parallel stores of value while fiat remains the medium for daily transactions and taxation. I think the reset might not come from governments but from individuals choosing systems that better preserve their purchasing power. The shift is already happening quietly, one wallet, one transaction at a time.

[God Of Thunder]

Considering how Gold and Silver have risen in the last few months, it is understandable that more and more people are focusing on investing in these metals instead of keeping their money in cash. Fiat is fucking up us because of inflation, but we cannot deny that fiat plays an essential role in our lives. The banks are likely to decrease the interest rate further, and people will start opting for gold and silver as a means of saving money.

I have never seen my country's fiat become stronger. It's getting weaker and weaker, but salaries for those who work hard haven't increased. They can barely feed their family with the money they earn. Unfortunately, we will have to live with these things. People who are smart are going to be rich, while others will struggle.

[XOOMBOX]

Considering how Gold and Silver have risen in the last few months, it is understandable that more and more people are focusing on investing in these metals instead of keeping their money in cash. Fiat is fucking up us because of inflation, but we cannot deny that fiat plays an essential role in our lives. The banks are likely to decrease the interest rate further, and people will start opting for gold and silver as a means of saving money.

I have never seen my country's fiat become stronger. It's getting weaker and weaker, but salaries for those who work hard haven't increased. They can barely feed their family with the money they earn. Unfortunately, we will have to live with these things. People who are smart are going to be rich, while others will struggle.

You have really raised a very good point. Inflation is actually gradually reducing people's purchasing power because the value of fiat currency is decreasing every year but people's salaries are not increasing that much. People do not actually realize that if they hold cash, its value gradually decreases due to inflation. So in my opinion, gold and silver are now a relatively safe investment, and if someone wants, they can even invest in crypto currency if they understand the market well. But it is true that gold, silver or crypto currency were not originally created for people's daily transactions, it is only for savings. The main problem is not fiat, but the way the government has managed the currency, until this gap between the rich and the poor is fixed, and those who understand the system will be ahead.

[kasablings]

Fiat is indeed hopeless,it has it's hold every where in the world.and the government are big tools for it,fiat place a big role in the economy as large where most things are been regulated by fiat.for example in my country there was a time you are limited to take a certain amount of money to be withdraw from your account daily,which affected alot of business people till they started getting use to it.

[slapper]

The situation with Fiat may be disappointing, but there's nothing we can do about it. We just need to learn to live with this. It's likely that persistent inflation will force people to invest in Bitcoin and Gold. They will avoid Fiat whenever possible. Gold has been surging lately, so I guess this is already happening behind the scenes.

At some point, I believe governments will reset the global economy, bringing us back to "ground zero". Inflation will ease, but it won't disappear. Without inflation, Fiat will simply be hoarded like a store of value. Just like it's the case with BTC and Gold these days. Inflation is more like a feature than a bug. Only if it stays low (controlled). If it rises excessively, that's when it becomes a real problem. We can never tell what will happen in the future. So here's hoping for the best.

Fiat isn’t inherently hopeless but it’s certainly flawed by design since it relies on trust in policymakers who don’t always act responsibly. Bitcoin offers a compelling alternative because it removes that trust element, monetary policy becomes math and code instead of politics but total replacement of fiat is unlikely at least in our lifetime. What’s more realistic is a gradual coexistence, Bitcoin and other decentralised assets becoming parallel stores of value while fiat remains the medium for daily transactions and taxation. I think the reset might not come from governments but from individuals choosing systems that better preserve their purchasing power. The shift is already happening quietly, one wallet, one transaction at a time.

No one voted to leave barter systems or commodity money. Individuals simply began using what was more effective until organizations followed suit decades later.

We are conducting two experiments at the same time. Bitcoin is an experiment on whether money can be institutional-free. Fiat is an experiment on whether institutions can keep their support without financial discipline. The 2020s are essentially a live stress test of both models and neither is doing particularly well. Your prediction of coexistence is likely to underestimate the messiness of this. We are not moving toward organized parallel systems but rather towards fragmented monetary ecosystems in which various communities are optimized to different things. Some value sovereignty, others convenience, others yield. Can human beings psychologically cope with the reality of actual monetary choice centuries after monopolistic currency?

The greatest contribution of Bitcoin may not be to replace fiat but to put central banks back in the competition of credibility. Voice is suddenly important when there is an exit.

[Olatundespo]

Considering how Gold and Silver have risen in the last few months, it is understandable that more and more people are focusing on investing in these metals instead of keeping their money in cash. Fiat is fucking up us because of inflation, but we cannot deny that fiat plays an essential role in our lives. The banks are likely to decrease the interest rate further, and people will start opting for gold and silver as a means of saving money.

I have never seen my country's fiat become stronger. It's getting weaker and weaker, but salaries for those who work hard haven't increased. They can barely feed their family with the money they earn. Unfortunately, we will have to live with these things. People who are smart are going to be rich, while others will struggle.

Gold in particular has broken its previous price several times in the past few months and reached new highs. In this case the depreciation of fiat is increasing due to inflation. If you save money in the bank, the depreciation will be even greater because the banks deduct additional money from you. Even though my salary was increased by a certain amount every year within five years, there is no financial improvement due to inflation. There are many workers in my country who meet their personal expenses through job income, but in reality the improvement in the financial situation is very negligible. The salaries of hardworking people have increased but it has not reduced overall poverty.

You may not be able to afford to buy these metallic items at high prices for your financial security, so you should develop an alternative financial system. In this financial system the value of your accumulated assets will be increase in over time. I am talking about digital gold (Bitcoin).

[bettercrypto]

In these times, I don't think fiat is hopeless; Fiat still dominates compared to Bitcoin, that is the true state of things right now. Currently, Bitcoin is only well-established for long-term investment. And many whale investors are fascinated by Bitcoin's potential.

But the majority of communities worldwide are still fiat-dependent; they still prefer to hold physical money compared to digital currency. Also, not all merchants and business industries accept Bitcoin payment; the majority still use fiat as their main acceptance payment only a few accept Bitcoin.

[God Of Thunder]

You may not be able to afford to buy these metallic items at high prices for your financial security, so you should develop an alternative financial system. In this financial system the value of your accumulated assets will be increase in over time. I am talking about digital gold (Bitcoin).

I agree. The problem is that the cryptocurrency market is too volatile, and not everyone can handle the stress that it generates. For example, Bitcoin dropped from 120 K to 107K in one night, but gold didn't experience the same fluctuation, which is why traditional investors often choose Gold over digital currency. I personally prefer Bitcoin over Gold. I've already earned over 2 times my Bitcoin investment, while the Gold investors have seen a 2x return lately.

While I prefer investing in Bitcoin, I do not deny the possibilities of investing in Gold as well. I think most people own at least a small portion of Gold. My wife has some jewellery that we bought for the wedding and she still has it. She is pretty happy seeing the price increased.

[woez]

Back when Elon Musk started expressing his disappointment with Donald Trump's "One Big Beautiful Bill", he posted a message on X that "Fiat is hopeless". With inflation spiraling out of control, and excessive government spending, the tech mogul might be right. So if all Fiat currencies are "hopeless", does this mean Bitcoin will take over the world in the future? I know the odds are slim (governments want control/power), but abolishing central banks could be the first step towards making this a reality.

What's your opinion? Your input would be greatly appreciated.

I believe Elon is correct in his statement, given the current situation and conditions, especially since fiat currencies have a very clear weakness the fiat currency system is vulnerable to value erosion over time. Market conditions remain uncertain, so market participants will automatically invest their money in more attractive instruments. Despite fluctuations in various components, they will still choose those that provide a more optimal store of value and It's possible that more people will be attracted to BTC, but BTC isn't here to dominate everything, and they won't let that happen either, as central banks will remain vigilant and not turn a blind eye to allowing their assets to be completely destroyed or abandoned by their users.

[Oshio-man]

Sometimes people can come up with some little idea to say whatever they want to say to draw people attention in the social media, can they seat a day or week without them make use of fiat or save huge amount of funds in their account? there are some countries, you can't try it to approach their companions to purchase goods and services with cryptocurrency because is not allow but you can use fiat to get what you want from their companies, mean fiat is not hopeless.

[Leahized]

As long as central banks have complete control over monetary and financial policy, the public will never truly have financial freedom. With their authority and power, they will restrict any movement that could weaken the strength of their fiat currency, and that includes Bitcoin, which is the antithesis of fiat currency. Therefore, for those of us who understand this, we must stick even more firmly to Bitcoin and trust that only Bitcoin truly gives us complete control over the assets we own.

Yes you are absolutely right, if we deposit money through bank. Then complete control over bank officials. And we can't use our money as we wish. But Bitcoin is an exception. Bitcoin is a currency that only those who own it have control over. Another aspect is that in case of fiat currency it is not possible to use money properly. By doing this, the bank has to follow the rules. If there is no shortage or loss of money here. But in the case of bitcoin, apart from its freedom, the money offers a lot of security and offers more profits in the future.

[Joeboy]

Sometimes people can come up with some little idea to say whatever they want to say to draw people attention in the social media, can they seat a day or week without them make use of fiat or save huge amount of funds in their account? there are some countries, you can't try it to approach their companions to purchase goods and services with cryptocurrency because is not allow but you can use fiat to get what you want from their companies, mean fiat is not hopeless.

Well I wouldn't say that Elon's idea was little infact given the current situation, I wouldn't say that he is actually right you know. His words were Fiat is hopeless, but he never concluded that fiat useless.... Infact it's due to the usefulness of fiat that still make him to still be using it.......If we can retrace our steps back to 4-5 years ago we will see e that fiat has indeed lost value, its purchasing power has drastically reduced but that is not the case for an asset like Bitcoin.Even with this I sincerely doubt the possibilityy of Bitcoin replacing fiat this is coz Bitcoin is decentralized, not even the government has control over it, and the government wouldn't want to allow the dominance of something (Bitcoin) that they have no control over.

[Joeboy]

Sometimes people can come up with some little idea to say whatever they want to say to draw people attention in the social media, can they seat a day or week without them make use of fiat or save huge amount of funds in their account? there are some countries, you can't try it to approach their companions to purchase goods and services with cryptocurrency because is not allow but you can use fiat to get what you want from their companies, mean fiat is not hopeless.

Well I wouldn't say that Elon's idea was little infact given the current situation, I wouldn't say that he is actually right you know. His words were Fiat is hopeless, but he never concluded that fiat useless.... Infact it's due to the usefulness of fiat that still make him to still be using it.......If we can retrace our steps back to 4-5 years ago we will see e that fiat has indeed lost value, its purchasing power has drastically reduced but that is not the case for an asset like Bitcoin.Even with this I sincerely doubt the possibilityy of Bitcoin replacing fiat this is coz Bitcoin is decentralized, not even the government has control over it, and the government wouldn't want to allow the dominance of something (Bitcoin) that they have no control over.

[Abiky]

Considering how Gold and Silver have risen in the last few months, it is understandable that more and more people are focusing on investing in these metals instead of keeping their money in cash. Fiat is fucking up us because of inflation, but we cannot deny that fiat plays an essential role in our lives. The banks are likely to decrease the interest rate further, and people will start opting for gold and silver as a means of saving money.

I have never seen my country's fiat become stronger. It's getting weaker and weaker, but salaries for those who work hard haven't increased. They can barely feed their family with the money they earn. Unfortunately, we will have to live with these things. People who are smart are going to be rich, while others will struggle.

Gold and Silver are rising because people are worried about the current state of the economy. Especially the US economy, after the government shutdown. Trump's controversial trade policies, the FED raising rates, and the USD weakening itself, has led us to the point where we are right now. Elon Musk's predictions will become a self-fulfilling prophecy. Eventually, all Fiat currencies will lose value until they become utterly worthless.

Perhaps, the plan is to use Bitcoin as the official world currency? I know it sounds crazy, considering that Bitcoin is decentralized (which goes against governments' ideals). But when you see big institutional investment firms and even governments themselves adding BTC to their portfolios, you'll notice such plan is "brewing" behind the scenes. They will control the circulating supply, and will also control most of the network hashrate. At least, it won't be as bad as Fiat with inflation taking away our purchasing power. Since Bitcoin is deflationary, it will continue to go up for the foreseeable future. We'll see what happens.

[God Of Thunder]

Gold and Silver are rising because people are worried about the current state of the economy. Especially the US economy, after the government shutdown. Trump's controversial trade policies, the FED raising rates, and the USD weakening itself, has led us to the point where we are right now. Elon Musk's predictions will become a self-fulfilling prophecy. Eventually, all Fiat currencies will lose value until they become utterly worthless.

I agree!
All the fiat currencies around the world will lose value. It's happening already. Not a long time ago, I was exchanging my USDT to BDT for 77 Taka. Today's exchange rate is 125 BDT for 1 USD. There is only a four-year gap. Can you imagine what happened with the Fiat? My country's's currency has weakened against the US Dollar, and now I think what will happen when the USD weakens more and more against Metals like Gold and Silver.

Unfortunately, average people do not understand these things well. They love to keep their money on bank accounts and save it for the future. But they understand the fact that their money is losing value. These 10 years money double scheme from the banks are scams.

[shinratensei_]

Back when Elon Musk started expressing his disappointment with Donald Trump's "One Big Beautiful Bill", he posted a message on X that "Fiat is hopeless". With inflation spiraling out of control, and excessive government spending, the tech mogul might be right. So if all Fiat currencies are "hopeless", does this mean Bitcoin will take over the world in the future? I know the odds are slim (governments want control/power), but abolishing central banks could be the first step towards making this a reality.

My opinion is that fiat is hopeless in the sense that there will be neverending increase in M2 total supply that make other asset more valuable. Basically hyper inflation.
His statement is true because gold literally did 2x within short amount of time, never seen gold move that fast before and it could be indicator that people think fiat is losing its value.

[Iranus]

My opinion is that fiat is hopeless in the sense that there will be neverending increase in M2 total supply that make other asset more valuable. Basically hyper inflation.
His statement is true because gold literally did 2x within short amount of time, never seen gold move that fast before and it could be indicator that people think fiat is losing its value.

You have never seen this before because you have never experienced or taken the time to study the history of gold and the economy. During the 2005-2007 period before the great recession, the price of gold increased from $400 to $830 in just 3 years. That means the average increase in gold is 25%/year and not much lower than the current increase.

With gold prices soaring, it's not just a sign that people believe fiat currencies are losing value, but also a warning that something very bad is about to happen to the economy. I'm not sure if history is repeating itself, but with gold prices rising and geopolitical tensions rising, the Fed slow to cut rates. All of those are bad signs, we should be careful.

[nikola22]

Unfortunately, average people do not understand these things well. They love to keep their money on bank accounts and save it for the future. But they understand the fact that their money is losing value. These 10 years money double scheme from the banks are scams.

ordinary people see how fiat is devalued based on store prices. keeping money in banks now makes little sense because interest rates are low and don't cover real inflation. also there's a risk of bank collapse.

many large companies kept large sums in bank accounts and now realize that it's unprofitable. that's why we see the emergence of Bitcoin treasuries and rising prices of gold and other precious metals.

[Questat]

But in reality, when will be fiat finally becomes hopeless and useless? If we based on how people value fiat, it seems that its still the most in demand payment system people use even across border lines. So we can’t really agree the fiat now has turned into hopeless or let’s say useless. But maybe, that’s just on the eye of Elon Musk as he is on the process of eyeing something to replace fiat, just my personal view.

However, fiat will only be hopeless if it starts to perform poorly and does not meet anymore all our expectations. Well, compared to bitcoin, fiat performs poorer, but it’s undeniable that fiat(dollar) remains the leading top currency nationwide.

[Abu-Naim]

Back when Elon Musk started expressing his disappointment with Donald Trump's "One Big Beautiful Bill", he posted a message on X that "Fiat is hopeless". With inflation spiraling out of control, and excessive government spending, the tech mogul might be right. So if all Fiat currencies are "hopeless", does this mean Bitcoin will take over the world in the future? I know the odds are slim (governments want control/power), but abolishing central banks could be the first step towards making this a reality.

What's your opinion? Your input would be greatly appreciated.

Fiat is indeed hopeless because regardless of the country you are coming from or the currency you are using, the value is not anymore compare to its original value and it is all due to inflation, and government are incompetence, they are after what they will have in their accounts not what people will benefit from and they are also contributing to the inflation since they now print money in excess for their own needs, the money will always lose value.

Instead of holding fiat currency, use it to buy Bitcoin, the value will be there with profit and you will have financial freedom because the fiat currency will keep losing value while Bitcoin with limited supply will gain value because it will soon become global asset.