Topic: ~85% of money doesn't exist (Read 527 times)

bitcoin is not gambling

we’re not playing with chances in bitcoin, in gambling there is no way you can outsmart the game it’s all based in luck if you believe in it but investing in bitcoin requires an extensive knowledge about economics and psychological behavior of people to make smart decisions in the market

storing your money in banks will not help your money grow but if you store your money in bitcoin its value will increase as time pass by

Whether money is physical or digital doesn't make a difference in its fundamental nature. Both can be used to buy goods and services, and both can be controlled by governments or other organizations.

However, I think centralization is a major issue. When money is concentrated in the hands of a few people or organizations, power is also concentrated. This can lead to inflation, economic instability, and even political oppression.

That's why, when Bitcoin was created, those who understood its advantages would recognize the importance of its existence. Bitcoin can be a valuable tool for protecting financial freedom and resisting government control.

Let's make this clear, "bitcoin changes millions of people's life", I mean both takers and losers. When we think in depth of what's happening in the market, if you profit then someone just lost their money and goes to you.
I didn't want to disagree, but that how banks work but there's a loophole into it if you just embrace the banking method, but that's only if you're a millionaire or billionaire then you just gotta go with banking to make easy peasy money. I guess this isn't a talk about banking and crypto anymore, it's how you survive your life with what you have in your hands.

I doubt that bitcoin is safe, it never is, I can agree that bitcoin is secure because of its security and technology but saving your money for bitcoin is plain gambling.

Yes ,you are right . Banks are making people stupid. So, I trust on Bitcoin because this changes millions of people's life. Banks take money from public and they invest in multiple assets and then they pay interest to people and after one years they cut a high amount from deposit money. And banks can show bankruptcy when many people wants to withdraw their money. People should think before depositing their money in banks. In my opinion, a step to deposit money in bank is bad set because that is digital time. Everyone can invest in Bitcoin that is safe and he will earn multiple times and he will become multi millionaire . No one will made someone multi millionaire except Bitcoin.

Fractional reserve banking's the reason why the value of fiat is just getting lower and lower because they are allowing this more and more, I don't know why banks keep getting away with that scheme, I guess that's a sign that they have to go and establish a new financial institution and why I don't trust banks and most of the money that I have there is around 20% for expenses that are mostly wants. Those banking people don't suffer from what they do with all this stuff, it's the hardworking people that shoulder the problem.

In fact, we never see the amount of our own money stored in savings, let alone see the physical amount of money stored in bank depositories. When people come to the bitcoin industry it is clear that bitcoin has no physical properties and is impossible to manipulate but it is quite different when it comes to paper currency. Currently they are also developing a CBDC and if they think paper money is a far superior product, why is there a need for a CBDC? The reason for the revolution and wanting to adapt to technology is that the form of paper currency does not have a superior system and is still vulnerable to being abandoned by its user base.

This concern began to emerge after crypto was generally introduced and they tried to adapt to this so that humans would not leave it behind. Even though currently money is still a necessity for people to spend anything, try to think about why they are trying to develop a CBDC. If the history of currency before the existence of paper money can sink then there is nothing impossible that paper currency will also follow suit.

You are right this is still fiat and can still be mined indefinitely but if they make the chain public I think we can see right how much they minted the money and with public accounting data maybe we can see what the purpose of minting too.

But I have doubt that CBDC is going to be transparent to public

Same in the case in our country due to the dollars rate our country rate is going down and down which is quite dangerous for our country. Even our most of the work is in $ but still the country I live didn't have the $ currency it has another currency but I'm also using it after withdrawing the money from different exchanges in which I have and sell them through p2p. Bitcoin would not be accepted by many countries in which my country would be present for the 1st. Although many people from the country have work there and they strongly support the opening of bitcoin in our country but still they were stopped from doing this.

What I have noticed for a few years is the desire of many countries and international entities to get rid of the dominance of the dollar, whose harms have become far greater than its benefits, but without having a clear vision of what the alternative might be, especially since all fiat currencies suffer from problems at different levels that prevent them from compensating the dollar or dispense with part of its services as an international currency. Even Bitcoin itself cannot easily perform this role, as well as being completely rejected due to its decentralized characteristics.

The implementation is going to be interesting. In The Netherlands, we have the "OV chipkaart" for 14 years now. It's kinda like a digital wallet, but only for public transportation. There's a central database, but each chipkaart works stand-alone, I think it works without continuous internet connection. It could also be bought anonymously, so one of the first thing people did, was hack it: add balance without paying for it
That could of course be prevented by connecting to a server for each transaction, but that reduces the use case. Luckily (lol), ECB has only been working on this for many years, and plans to keep researching this for many more years to come.

I can't imagine a central bank and government implementing this in any other way. By the time they're done, the topic title can be changed to "100% of money doesn't exist".

This is what all observers are looking forward to happening, although it may not seem to me like a new version of money without problems. CBDC will either be an encrypted version of the local currency, which will always be in relation to the dollar (and thus an infinite number of them can be produced), or new currencies that I do not know how it is technically possible to use in harmony with each other in international exchanges. Unless the world intends to replace the dollar (as a global currency) with a global CBDC as well.

My opinion is simple: I don't know. It's unlikely for the dollar to last forever as a reserve currency, and I don't think it's likely for governments to accept anything (gold or Bitcoin) that they can't control.
CBDCs are just the next step in total control.

They are taking everything away from us, but they tell us that it is the advancement of technology, they are helping and bringing us more convenience, convenience and eliminating the frills and cumbersome.

Bitcoin is also virtual money that cannot be touched or held with hands, but it really exists, and we can control and store it. No one can take our bitcoins if we don't reveal our seed phrase. Unlike the numbers on the bank account provided to us, they can freeze it, or delete it from our account at any time.

Don't know whether to agree or not because the actual function of currency is used to make purchases not stored in the bank. Money will circulate from the government to the community and from the community back to the bank, this is a simple formula that often occurs and is practiced. However, there are conditions where paper currency is starting to lose the trust of the public because its value cannot be maintained in the long term, so savings methods are now outdated.

I think it can't be that simple because if it is done like this there will be no balance between the money in circulation so there will be an imbalance in the government's financial system. The impact of inflation on monetarization will be much worse because money is recorded by the government in large quantities but its physical form is never balanced. Correct me if I'm wrong, but in the case of a state, the government cannot print unlimited amounts of money because it will cause instability in the country.

I would like to know your opinion regarding the dominance of the value of the dollar in the currency market despite the presence of uncontrolled currencies such as Bitcoin. Will global policies succeed in ensuring a smooth transfer of the dollar under American hegemony over the world? Considering that the dollar is a currency, I cannot abandon the roles that I play, as well as it being only an exchange currency.
The crisis into which the global financial exchange system has entered resembles a vicious circle. It is not easy to stop any part from working without the entire system collapsing.

Corporate interests in controlling money are so slippery, what if the supply of money really exists in the middle of society without the demand for activities involving money, how bad it is from the impact caused. Not yet, but if a country's CBDC starts issuing financial intuitions, that's a positive result of going one step further by reducing the raw material for special paper money and waste of damaged money, in fact the government in a country has a legal umbrella and a ministry that oversees the printing of physical or non-physical money, I think there are countries that have implemented compliance for the country.
 If there are banks that print money from a previous time, let's say a service franchise from lending and borrowing, atm rental services or money storage maintenance, this digital transaction is very broad with overall data that banks store for security and convenience.
The benefits of digital money are many in the benefits of people at this time and there is support for local financial applications in each region, but I have not yet found the supply limit in the monthly or annual period, because money is only an agreement of the state bank and the government and money is a medium of exchange not a unit of asset unit. natural if it can be lower and deeper and tens of percent every year, the numbers on physical money are only manipulation not the contents that are worth the exchange rate, that's what makes money feel small.

Making such forum thread means that you probably don't know how fractional reserve banking works.
In fractional reserve banking most of the money exist in the balance sheets of the banks.
It's perfectly normal to have 1.5 trillion euro in physical banknotes and coins and 10 trillion euro in total money supply(this is just a theoretical example). That doesn't mean that those money doesn't exist. There's no way 100% of the money(paper cash and coins) to exist in a physical form. I agree that increasing the money supply only brings higher inflation. Maybe the CBDCs(money that will have date of expiry) will help in increasing the money supply(in the short term) without causing high inflation.

The more I think about this, the crazier the whole concept of "money" is. We went from gold to paper certificates, after which people found out they could no longer exchange their paper certificates to get back their gold. Then we went from paper certificates to a number on a screen, and now people can't even exchange that number on the screen back to the paper certificate! And with all this, people have totally forgotten it used to be gold instead of a number on a screen.

Long story short: this is why I'm in Bitcoin.

What has been happening in Lebanon during recent two years is somewhat funny. The crisis began when the dollar exchange rate on the black market rose by a large percentage compared to the price in banks. This forced all people to request dollar withdrawals from banks. Since the banks, of course, did not have enough dollars, they resorted to the government, which decided that no citizen could withdraw more than $200 or perhaps less (I no longer remember). What did some people do? He bought a toy gun, stormed the bank, and asked to withdraw its entire balance. Imagine that someone commits a robbery to steal his money. Lol

This is the exact reason what convinced me to get into Bitcoin and crypto a decade ago I remember the video shared by my friend to make me understand why Bitcoin came into existence and how our bank balances are nothing but a digital representation and if everyone wants to withdraw money then they will not have it at a go. Sadistic leaders and corrupt bankers are the one who are controlling our finance, increasing our hardship but still have no shame in passing judgement and negative opinion on Bitcoin.

Appearing this kinda post which most of us will not even be aware as people usually thinks FIAT is the safest savings but this post will clear their misconception.