Instead of Fiat Currency Let’s Say Government Currency or Bank Currency

[Bitcoin Betting Guide]

If we stopped calling dollars, yen, euros, et cetera fiat currency and started calling them government currency or bank currency people would more easily see the problems with these currencies and the advantages of the bitcoin solution.

* People Don’t Know What Fiat Currency is
* Bitcoin Could be Described as a Fiat Currency
* People Dislike the Government and Banks

Full explanation and funny money pics in link

http://bitcoin-betting-guide.com/james-cannings-blog/instead-of-fiat-currency-lets-say-government-currency-or-bank-currency/

Am I right? Which one do you think is better, government currency or bank currency?

[BowieMan]

interesting. it might be a worthy distinction to make; non-bitcoiners never seem to know what i am talking about...

[Yakamoto]

I support this idea, but on the forum I think it's safe to use fiat. Most people around here will get it, and those who don't can go look it up (If they even bother to).

But for explaining it to everyday people, I think bank/government currency would be a much better way of describing it to them. I didn't learn what fiat was until about 1/2 a year ago, and I'm one of the most financially-inclined people among my colleagues.

But I think that "government currency" would be better among the two, since even then not a lot of people know that currencies are issued by banks. They just assume American Dollar = American Government.

We really need to educate the masses better...

[franky1]

my way of remembering fiat is this unofficial acronym

Federally
Insured/invented
And
Taxed

im sure there are many slang versions out there.

personally when talking to people though. i use the words forex currencies (limited to the legal tenders of the planet)
or the word legal tender, bank notes. it all depends who i am talking to.

so tailor each query you get with people to something they will understand, dont use the same sales pitch and exact wording with everyone you come into contact with, speak at their level.

[Ektra]

Yeah, I use terms like 'central bank currency' IRL. Agree that fiat isn't a very well known term in everyday use, and talking in terms people can relate to makes it harder to dismiss you as some gobbledegook speaking radical.. Once they understand a bit about how the banking system works, then I start to talk in terms of fiat. You have to lead people through the thought process or they get overloaded with unfamiliar stuff and shy away.

[beatljuice]

I like using the term fiat. Because people don't know what it means I get an opportunity to explain it. It makes them think about it instead just automatically converting and thinking "those things in my pocket I use every day. Real money."

[picolo]

I like the idea

People are waking up to the idea that the State doesn't want to protect and help the people but to control them

[HarmonLi]

i'm not sure i see the importance of the distinction here. 

[franky1]

I like the idea

People are waking up to the idea that the State doesn't want to protect and help the people but to control them

just try not to go too far down the rabbit hole of true law (common law: theft, injury, murder) is being slowly wiped out by corporations (legal acts/legislation: corporate protections, taxes) and try not to go even further that governments are corporations.

so take it easy and spoon feed people slowly.. or they will think that your the crackpot. i stay99% away from the detailed stuff, although id love to come to a point that the nanny corporations 'acts' are repealed or simply ignored because they are no longer applicable

and now my 2 year reputation is tarnished by sounding like a wacko lol (see my point)

[Neg]

Why don't we call fiat money Fake Money and bitcoin Real Money? I like that better  .

[sidgrip]

Why don't we call fiat money Fake Money and bitcoin Real Money? I like that better  .

Because both are "Fake Money".

 

[franky1]

Why don't we call fiat money Fake Money and bitcoin Real Money? I like that better  .

Fake
Inflated
Antiquated
Taxed

[Malin Keshar]

Never heard about the term fiat before entering the bitcoin world. I use only here because everyone use, but not outside.

And bitcoin can not be some kind of fiat, because fiat money, according to wikipedia, derives its value from gov regulation or law.

[juju]

Funny
Ink
Ancient
Tree Pulp

This is kinda fun

[pening]

This would be a very good idea.  Especially to recognise Bitocin is in fact fiat itself.  Most wont like that, but its true, in that its not commodity based currency and its value is backed by regulation, albeit the protocol rather than government mandate.  Its a constant source of amusement that people rile against fiat when they are being pro bitcoin, apparently not realising the meaning of fiat.

By calling out "gov currency" its clearer to people what you mean and the separation from Bitcoin is technically more correct.