Topic: 99% of the people still think that fiat money are better than crypto - page 25. (Read 3282 times)
November 09, 2017, 10:46:50 AM
Bitcoin get Introduced in 2009. In the last 8 years i personally never felt the need of any cryptocurrency. Same is the case of my countrymen. We have fiat currencies, bank cheques,we use debit credit cards, we use Paytm. We do use digital wallets like Airtel Money, Citi Master Pass, Freecharge, ICICIpocket, Jiomoney, State bank buddy etc. So why to go for bitcoin currency. All these tools have legal status in my country. They are also backed by Government as well as by the central bank of our country. Bitcoins legal status is not fixed in many countries. Some countries which earlier allowed bitcoin are now banning its operations. So why to use such currency.
November 09, 2017, 10:10:29 AM
now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
Why did you think so? Fiat money is more convenient right now only because cryptocurrency isn't widely accepted yet in offline/conventional businesses. If crpyto is already widely accepted it is way more convenient to use crypto as payment rather than fiat. Besides, crypto is still unregulated and even banned as a payment system in some countries. Perhaps that reason contributes to how people think of crpyto.
For comparison, look at online businesses such as domain and hosting provider, gaming hub like Steam, and any other online businesses that you can think of. It is way more convenient to use Bitcoin and other crypto to pay for those services, especially if their service isn't a local one.
November 09, 2017, 10:07:46 AM
No it does not work like that when you say something is anonymous. The anonymous nature comes in when you are making transaction from peer to peer and the names and personal info of both the parties is not known to you. If your friend is going to spend the money in real world then people can see him, they can capture his face, they can know his name in next minute. With the bitcoin everything is relayed by the bitcoin address which is not linked to your name, identity and nothing. You can just send any kind of money through it. Thats what it is all about. Hope your doubt clears up here with the bitcoin anonymous nature.
November 09, 2017, 10:02:44 AM
Its definitely difficult to compare the two because bitcoin is ahead of its time, but probably it will soon have a part to play in the future when digital currencies will be adopted by big cooperations for everyday use and when the business environment will not be hostile towards this technology but maybe people meant to say fiat is the mostly used currency and not being better than cryptos.
November 09, 2017, 10:02:04 AM
I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money.
"
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money.
"Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
If we are talking about anonymity of crypto currency, it exists. It is not that all crypto currencies are anonymous but there are some which is truly anonymous. You can just search that anonymous crypto currencies online to know them. And in terms of "believing"? I still believe in fiat, but that doesn't mean that I don't trust cryptos, I just know that it will create it's own place in the future.
November 09, 2017, 09:46:58 AM
It didn't surprise me. We all know that in order to spend bitcoins, we need to exchange them for Fiat. It turns out that he supports bitcoin official currency. People who are not familiar with cryptocurrencies don't understand what the point is. It seems to me that only trade can show people that bitcoin is better than Fiat.
November 09, 2017, 09:41:03 AM
It is still more convenient to use digital coins for your transactions, the people who say just because crypto is money on the internet or uses internet to transact did not fully aware and understand the capability and anonymity of the transaction, the amount and the transfers is transparent but the owner is 99% anonymous, if they just hold their own dollar that is a guarantee anonymous, just by holding but the transaction and transfers are the common use of fiat or crypto.
November 09, 2017, 09:35:14 AM
That is not strange at all having in mind that 99% of people are still knowing only about the fiat money and never had any experiences with cryptocurrencies. Bitcoin and other cryptocurrencies are still very limited to a pretty small circle of users. And honestly cryptocurrencies still can't be used for everything that fiat currencies can and people are still receiving their paycheck in fiat so of course they think it's better.
November 09, 2017, 09:29:54 AM
So what's wrong in it. It is true, in all of the world if 99% people prefer to fiat then they do it right. Fiat is our first currency and crypto currency we are using it just for increasing our fiat money. I am also one of them who believe on fiat currency, because fiat is our own currency and crypto is just for our investment or trading and we could do it only on online world.
November 09, 2017, 09:21:00 AM
Fiat is better than Crypto, for which purpose? This question needs to be more specific.
Both fiat currency and cryptocurrencies have multiple utility. They have different uses like mode of payment, store of value, overseas remittance, pegging and much more. So simply saying fiat to be better than cryptos doesn't answer all the questions. For example, let's talk about store of value, suppose you put $1000 in the box and open box after a year. You will find your $1000 will have lesser purchasing power (real value) as it used to have a year ago. On the other hand if we put $1000 in any big cryptocurrency for a year, your sum will multiply many times.
Both fiat currency and cryptocurrencies have multiple utility. They have different uses like mode of payment, store of value, overseas remittance, pegging and much more. So simply saying fiat to be better than cryptos doesn't answer all the questions. For example, let's talk about store of value, suppose you put $1000 in the box and open box after a year. You will find your $1000 will have lesser purchasing power (real value) as it used to have a year ago. On the other hand if we put $1000 in any big cryptocurrency for a year, your sum will multiply many times.
November 09, 2017, 08:57:39 AM
I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money."
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money.
"Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
Well, even 1% of the people is more then enough and you will see that the number will go up significantly with time. This is depending the usage of cryptocurrencies. Maybe some countries will start to use them instead of their national fiat money, who knows.
November 09, 2017, 08:56:59 AM
Probably because those people have not tried to store bitcoin or have not had bitcoin ever. Although yes they do have a point about having money on your pocket as anonymous because who knows you have that amount in your pocket right? That's the same thing with Bitcoin and other cryptocurrencies too, anonymous in ways like if you are sending money to your loved ones to the other side of the world. You can send them using bitcoin anonymously unlike the old school way wherein one would go to a money changer to change the amount that was sent or the like.
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November 09, 2017, 08:54:35 AM
People who assume bitcoin is anonymous basically wrong at the first word. Bitcoin is pseudo-anonymous, and just will stay secret or unknown by public only if the identity of address holder didn't revealed nor published.
I probably have the same thought that carrying dollars in pocket is the most anonymous way, but it's just too traditional, with cryptocurrency that truly anonymous like monero you can send millions of dollars within few click but carrying million dollars in bag? not a good idea honestly
I probably have the same thought that carrying dollars in pocket is the most anonymous way, but it's just too traditional, with cryptocurrency that truly anonymous like monero you can send millions of dollars within few click but carrying million dollars in bag? not a good idea honestly
November 09, 2017, 08:50:03 AM
One thing you should understand from the word is it's only a joke to give opinions. That cryptocurrency is much better compared to other places, because if we can't understand everything well then as now (you're wrong). Maybe if you have a standard money or no money beyond you, then surely it can still be in anonymous. However, all the data can be obtained by each group for their interests, so that money is not the most secure place or anonymous. It's just a nonsense if anyone say that money is the most anonymous.
November 09, 2017, 08:49:34 AM
At the present time, fiat will be much better than crypto, but in the future, digital money will grow and monopolize the money market, Things like fiat. And then, the crypto would really be better than fiat many times
Totally agree with you. Crypto still in early stage, may take times to expose to global. Still more and more people aware about crypto nowdays. Maybe in 40-50 years in the future, fiat will be a history. 
November 09, 2017, 08:49:12 AM
not sure if it was approximately 99% of people but as far as i know, there are a bit plenty of them. the reason maybe is that they are scared to bitcoin's capability, issues, or just simply they do not know what is it, or maybe they knew but they just ignore it.
November 09, 2017, 08:48:59 AM
This is mainly to do with public ignorance at the moment. You can keep $200 in your pocket "anonymously", but what about $10,000? or $100,000? would you keep those in your pockets? no. You would then need a bank and you'll get a lot of questions asked by the government, tax authority, etc. You could easily hold that much money in cryptocurrency in your pocket (easiest way - a hardware wallet), and it will still be completely safe from getting your money stolen, etc. The only thing needed for wide adoption is for it to be accepted more by merchants and for its price to be less volatile.
November 09, 2017, 08:48:28 AM
He is right about cryptocurrencies being not totally anonymous though. But who cares if a lot of people still doesn't want to use bitcoin. You can't force everyone to just hop in in what they don't understand. Besides, bitcoin was not made to fully replace fiat currency, it is an alternative. I think fiat and crypto could and should coexist with each other. There are things that we need to let the government control.
November 09, 2017, 08:39:50 AM
At the present time, fiat will be much better than crypto, but in the future, digital money will grow and monopolize the money market, Things like fiat. And then, the crypto would really be better than fiat many times
November 09, 2017, 08:35:30 AM
I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money."
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
Not a surprising thing because most people do really think of this way which they do believe that fiat is always better on any other things that do exist which is normal for them to say even myself would really do say the same thing i i havent known about bitcoin. Just dont force them on what they do believe as long us bitcoin users do already know on making advantage when it comes on money handling and controling with your own hands without any 3rd party involve. If they would just knew it for sure they would changed their minds. "Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money.
"Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?
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