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Topic: Are you waiting for the collapse of the fiat system to trigger BTC adoption? (Read 1913 times)

hero member
Activity: 1372
Merit: 783
better everyday ♥
Are you waiting for the collapse of the fiat system to trigger BTC adoption?

No, I'm waiting for Christmas.   Cheesy  Seriously, I love Christmas time and holiday season.   Cool

In all honesty, we are only 6 years in this technology, and word of mouth and that viral "network effect" has yet to happen.  We all just have exercise patience and contribute where we can in the meantime.

legendary
Activity: 812
Merit: 1000
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?



I was actually just waiting for adoption on the side and in countries where govs aren't as strong as USA,UK,China etc.  If fiat systems collapse in one of the major countries it seems hard for me to believe govs will lose all their power overnight, maybe they would? If they dont this means some other BS new fiat system launched the next day.
legendary
Activity: 1400
Merit: 1001
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?


Let's be realistic FIAT system won't collapse, ever. As long as people are maintaining a civilisation there will be FIAT as its backbone. So I am just waiting for bitcoin wider acceptance and when I will be able to buy everything you can find online for bitcoin - then wait will be over for me.
legendary
Activity: 2632
Merit: 1023
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?



The fiat system is never going to collapse. It is backed fully by the most power military forces on earth. The printing presses will never run out of ink.

Bitcoin will almost surely remain a tiny sliver of the global economy. It has no central power to promote, protect, and advance its cause. I think the more likely scenario is that fiat will take on more of Bitcoin's digital characteristics over time and perhaps also grow in transparency.

I think it does have some strong central gov powers driving it. Every suboptimal fiat decsion govs make can now to be some extent arbitraged into BTC value
legendary
Activity: 2632
Merit: 1023
Bitcoin adoption I feel will have a few different drivers, and it will come I feel much like computers then smart phones, and the net itself it was an evolution and suddenly its ubiquitous.

What will be needed on the way is

Killer app
Killer hardware provably safe platform to use btc (eg cant be injected with software or hardware errors at fab level)
some evolution in BTC tech, to scale or make tx faster, eg, side chains or whatever
a few large countries defaulting on debt
hyperinflation is a few other countries



I feel that all of these are inevitable within a 10 year horizon
legendary
Activity: 2660
Merit: 1074
collapse of fiat system would hurt BTC too.


You know, people will get scared to invest in risk things and won't spend on superfluous like Cell Phones or High Speed internet
legendary
Activity: 1050
Merit: 1000
Bitcoin is better than ordinary fiat system it's more secure and fast than others 90's transactions method, i am not waiting for the collapse of that oldies fiat system, as Bitcoin getting more big merchant and adoption around the world so i am happy with that and getting more Bitcoin and happily using at many places for online shopping.
legendary
Activity: 3066
Merit: 1047
Your country may be your worst enemy
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?

I'm not waiting for anything. I'll just use BTC more and more when more places will accept it. It will be gradual.
legendary
Activity: 1512
Merit: 1000
Yep, if you think about it this is a non-issue. As soon as fiat collapses all the private security contractors will begin accepting bitcoin as payment. They fight for nothing but money so what else will they do when everybody starts shoveling their fiat into the fireplace to warm their houses? Once the mercenaries realize bitcoin is the only dependable currency the first thing they will do is take over the electricity and communications infrastructures to secure their source of income which will immediately become bitcoin. At that point those who were sensible enough to set aside at least a little bitcoin just in case this scenario unfolds will be the only ones able to guarantee their security when pandemonium breaks out. Everyone else will be at the mercy of the bitcoin holders. This is why it's important that the bitcoin community works diligently to expand the bitcoin community to include as many people as possible, before all this blows up. That is, of course, IF it all blows up. For all I know the fiat system will find a way to perpetuate itself for further centuries. But I'm holding on to at least a little crypto just in case.

Probably traditional stuff like gold, silver, gems would be more popular between those mercs. BTW the fiat system not going to blow up very soon. A gradual degradation is a much more likely scenario.
legendary
Activity: 1106
Merit: 1000
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?



If the fiat system collapses, so will all our utilities.  Bitcoin is useless with electricity and the internet.   Undecided


Someone has been watching too many Mad Max movies. So when the Argentinian currency for example collapsed did the whole world lose electricity?

Yep, if you think about it this is a non-issue. As soon as fiat collapses all the private security contractors will begin accepting bitcoin as payment. They fight for nothing but money so what else will they do when everybody starts shoveling their fiat into the fireplace to warm their houses? Once the mercenaries realize bitcoin is the only dependable currency the first thing they will do is take over the electricity and communications infrastructures to secure their source of income which will immediately become bitcoin. At that point those who were sensible enough to set aside at least a little bitcoin just in case this scenario unfolds will be the only ones able to guarantee their security when pandemonium breaks out. Everyone else will be at the mercy of the bitcoin holders. This is why it's important that the bitcoin community works diligently to expand the bitcoin community to include as many people as possible, before all this blows up. That is, of course, IF it all blows up. For all I know the fiat system will find a way to perpetuate itself for further centuries. But I'm holding on to at least a little crypto just in case.


Even if Bitcoin isn't massively used during a fiat collapse then it still will serve the same purpose Gold has. ie preservation of wealth.....and likely increase it a lot.

The truth is gold and Bitcoin doesn't always have that much use during a collapse, people just want food etc. it what it does is when assets have crashed to the floor you can come in and buy them for peanuts. This is the whole purpose of owning Gold etc, to get to the other side of the disaster intact.

if I was American I would want in order.
1. Log cabin, stocked with canned food.
2. Reliable water source.
3. Electrical generator/solar.
4. Gold/Bitcoin.

Where you put a gun into that order is up to personal choice.
sr. member
Activity: 252
Merit: 250
in my case no i only use 10% of wages into bitcoin the rest as im in europe its euros i dont think to use a bitcoin in 100% budget its sae its very voltable the price and the bank gives a difrent securety and nsurances to the fiat too.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
I'm not waiting for anything. I'm converting and spending. The dollar is in the past.
legendary
Activity: 888
Merit: 1000
Monero - secure, private and untraceable currency.
At this price, nothing will help Bitcoin but the collapse of fiat... Which will happen in one point of time. Sooner or later.
hero member
Activity: 686
Merit: 500

Too many Armageddon believers. Fiat won't collapse. Worst case scenario it will simply become obsolete and used only to pay taxes and speeding tickets.
legendary
Activity: 1106
Merit: 1000
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?



If the fiat system collapses, so will all our utilities.  Bitcoin is useless with electricity and the internet.   Undecided


Someone has been watching too many Mad Max movies. So when the Argentinian currency for example collapsed did the whole world lose electricity?
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
What are you waiting for?
I'm not waiting for anything, I'm using bitcoin just as I would use any other useful tool.
full member
Activity: 140
Merit: 100
The collapse of the fiat system is not likely to come. Bitcoin will rmain a niche use entity for a long time, until there is some necessity that it fufills.
legendary
Activity: 1512
Merit: 1000
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?

I'm definitely not waiting for the collapse of the fiat system. In that case the most popular currencies would be gold, silver, baked beans, bread, corned beef, ammunition, amoxicillin, diesel, petrol, cigarettes, coal, fellatio but surely not bitcoin.

"waiting for bitcoin to gradually become popular alongside fiat" sounds better for me.

I'm also waiting for the block halving and the second coming of Satoshi Smiley.
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?



The fiat system is never going to collapse. It is backed fully by the most power military forces on earth. The printing presses will never run out of ink.

Bitcoin will almost surely remain a tiny sliver of the global economy. It has no central power to promote, protect, and advance its cause. I think the more likely scenario is that fiat will take on more of Bitcoin's digital characteristics over time and perhaps also grow in transparency.
legendary
Activity: 3556
Merit: 9709
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Or are you waiting for bitcoin to gradually become popular alongside fiat?

What are you waiting for?



The latter.
I hope that as time goes on bitcoin will gain mainstream adoption & be used by the masses.
We should be able to put Western Union out of business pretty easily maybe PayPal too.
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