This is like 'Anonymint' all over again.
It is Anonymint.
Topic: Bitcoin defeating fiat is very unlikely - page 2. (Read 3609 times)
It is Anonymint.
not many people actually think that bitcoin will defeat FIAT.
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
There we go. I agree with his opinion.FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
This is like 'Anonymint' all over again.
It is Anonymint.
The fiat system will die by itself sooner or later (depends only on the ratio of idiots in our society). It's fundamentally flawed and kept running purely by violence = unsustainable.
not many people actually think that bitcoin will defeat FIAT.
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
The next megacrash will settle it; 2008 Episode 2; playing in the real world near you very soon
No fool. The dollar will become stronger because it is the most liquid and the rest of the world is short dollars given massive borrowings in dollars due to QE.
your the fool..
you do realise america is in debt.. you do realise america owes this debt to china right., (look into the bonds!!! china owns USA) and with china joining brics. it will be the brics that becomes dominent, not dollar..
the amount of brics based banks vs the amount of amero based banks is easy enough to see..
come on even if we look at the population numbers
amero: 0.481billion (canada 0.035bill, america 0.322bill, mexico 0.124bill)
brics: 3.058 billion (brazil 0.202bill, russia 0.142bill, india 1.267bill, china 1.394bill, s'africa 0.053bill)
think of the land mass and property ownership. brics wins again
think about the import vs export trades. brics wins again
america wont stand a chance. and bitcoin will have opportunities once people start seeing the shift in power and growth of the brics and the weakening of the dollar.
Bitcoin will very likely become synonymous with being a criminal.
that WAS the mindset of 2009-2012.. not 2014+OP you seem to be worried about bitcoin/anonimity/government tooooooo much..
watch the first 15 minutes of this video
http://bravenewcoin.com/news/andreas-antonopoulos-at-bitcoinsouth-money-as-a-content-type/
and allow andreas to explain to you why worrying about government rules or attempts to control are futile. and the multiple ways to hide where the funds came from in the world and went to in the world.
no law can stop bitcoin, it can only scare people (well sheeple that dont quite get bitcoin, and fear governments)
not many people actually think that bitcoin will defeat FIAT.
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
The next megacrash will settle it; 2008 Episode 2; playing in the real world near you very soon
No fool. The dollar will become stronger because it is the most liquid and the rest of the world is short dollars given massive borrowings in dollars due to QE.
not many people actually think that bitcoin will defeat FIAT.
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
The next megacrash will settle it; 2008 Episode 2; playing in the real world near you very soon
They don't overlap
Fiat money is forced into circulation by pumping to the bank system and loan out to government to drive various projects, then handed out as state employee's salary. The purpose of fiat money is to spend it as quick as possible since they drop in value over time
Bitcoin is entering circulation by volunteer, typically after a long time of saving and appreciation, and start to trickle in to the economy at a small percentage per year, and once it reaches the merchant/buyer, it will most likely be stored again for another several years. The purpose of bitcoin is to spend as slow as possible since they increase in value over time
Fiat money is forced into circulation by pumping to the bank system and loan out to government to drive various projects, then handed out as state employee's salary. The purpose of fiat money is to spend it as quick as possible since they drop in value over time
Bitcoin is entering circulation by volunteer, typically after a long time of saving and appreciation, and start to trickle in to the economy at a small percentage per year, and once it reaches the merchant/buyer, it will most likely be stored again for another several years. The purpose of bitcoin is to spend as slow as possible since they increase in value over time
Defeating fiat is like a whack-a-mole game. Fiat has lost many times in various countries over centuries, but it's still here. When fiat finally caves under the burden of its own issues, overdebtedness of the economy, etc., there will be a reset to another form of fiat, crypto currencies can gain a bigger market share as people lose confidence in fiat, but defeating it completely is unlikely, even if Bitcoin didn't have the flaws it has, it's still unlikely.
The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
Fiat hasn't existed for thousands of years.
The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
Thanks for writing what I would have. Correct.
Also gold when it was a legal tender coin currency was always a fiat, because of Gresham's Law and the power inherent with seigniorage.
A strong counter point is that Bitcoin can be sometimes anonymous for the diligent (i.e. not practical for most people, mostly for criminals), while some governments may view Bitcoin as less of a threat than a more overtly anonymous cryptocurrency.
Unlike using cash, employing anonymity in Bitcoin will very likely become synonymous with being a criminal.
The government could likely remove that impractical, rogue anonymity option in the future by regulating the miners and forcing them to only include transactions that come from an online wallet provider which does KYC. They would be wise not to do this until the masses have become accustomed to thinking of Bitcoin as something in their Paypal or Coinbase account, and those who use non-KYC wallets will have likely become the much smaller minority.
Government can co-exist with anonymity because people willingly give their consent to reveal and participate in an ordered society rather than complete chaos. The distinction is the people are in control and accede their consent. If you take away this balance-of-power (remove all escape routes, black markets, and frontiers), what you end up with is totalitarianism and megadeath (every single damn time, there is nothing ambiguous or dubious).
I believe that black swan is the fact that the economy is shifting from brick & mortar to virtual work and services. Into the dark we go, so that We The People grant our consent to be governed.
Unlike using cash, employing anonymity in Bitcoin will very likely become synonymous with being a criminal.
The government could likely remove that impractical, rogue anonymity option in the future by regulating the miners and forcing them to only include transactions that come from an online wallet provider which does KYC. They would be wise not to do this until the masses have become accustomed to thinking of Bitcoin as something in their Paypal or Coinbase account, and those who use non-KYC wallets will have likely become the much smaller minority.
Government can co-exist with anonymity because people willingly give their consent to reveal and participate in an ordered society rather than complete chaos. The distinction is the people are in control and accede their consent. If you take away this balance-of-power (remove all escape routes, black markets, and frontiers), what you end up with is totalitarianism and megadeath (every single damn time, there is nothing ambiguous or dubious).
I believe that black swan is the fact that the economy is shifting from brick & mortar to virtual work and services. Into the dark we go, so that We The People grant our consent to be governed.
not many people actually think that bitcoin will defeat FIAT.
FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
There we go. I agree with his opinion.FIAT is nearly dead all by itself, leaving people to voluntarily move over to bitcoin. without bitcoin even having to try defeating fiat
This is like 'Anonymint' all over again.
I agree. I can't see btc completely replacing fiat. Not that anyone serious thought so anyway.
Bitcoin will defeat fiat in all the areas fiat can't compete. Given its simplicity, there are lots of these.
That's more realistic. legendary
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The OP's argument is that regulation will kill Bitcoin.
I disagree for three reasons.
1. In the long run, regulation is irrelevant.
Which sounds like a better idea? Money issued and controlled by
central authorities, or money issued by an open source protocol,
and controlled by everyone?
I know which one I prefer. Good ideas eventually prevail,
and a protocol cannot be stopped.
2. There's two sides to the regulation patchwork effect.
Sure, there is some dissonance, but there is also competition,
and local and national governments not wanting to lose out.
3. The regulatory response to Bitcoin has generally been
amazingly positive so far, so even in the short term,
I don't see it slowing down Bitcoin much, if at all.
And some regulation may even be positive.
I disagree for three reasons.
1. In the long run, regulation is irrelevant.
Which sounds like a better idea? Money issued and controlled by
central authorities, or money issued by an open source protocol,
and controlled by everyone?
I know which one I prefer. Good ideas eventually prevail,
and a protocol cannot be stopped.
2. There's two sides to the regulation patchwork effect.
Sure, there is some dissonance, but there is also competition,
and local and national governments not wanting to lose out.
3. The regulatory response to Bitcoin has generally been
amazingly positive so far, so even in the short term,
I don't see it slowing down Bitcoin much, if at all.
And some regulation may even be positive.
Bitcoin will defeat fiat in all the areas fiat can't compete. Given its simplicity, there are lots of these.
Give it a bit of time, the Btc market cap will gain it's trust.
With Fiat, i can use its paper to wipe my ass
With bitcoin, i can pay OP to lick the shit of my ass.
Who wins? you decide.
With bitcoin, i can pay OP to lick the shit of my ass.
Who wins? you decide.
Fiat will win.
Bitcoin has millions.
Fiat has trillions and can print faster than 25 every 10 minutes.
And you can't wallpaper your house with bitcoins.
Fiat wins.
Bitcoin has millions.
Fiat has trillions and can print faster than 25 every 10 minutes.
And you can't wallpaper your house with bitcoins.
Fiat wins.
Defeating fiat is like a whack-a-mole game. Fiat has lost many times in various countries over centuries, but it's still here. When fiat finally caves under the burden of its own issues, overdebtedness of the economy, etc., there will be a reset to another form of fiat, crypto currencies can gain a bigger market share as people lose confidence in fiat, but defeating it completely is unlikely, even if Bitcoin didn't have the flaws it has, it's still unlikely.
The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
Fiat hasn't existed for thousands of years.
The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
Fiat is not very much adopted every where, its convenient, for everyone which is why maybe it will never be replaced.
But for bitcoin to be successful, it doesn't have to replace FIAT.
Defeating fiat is like a whack-a-mole game. Fiat has lost many times in various countries over centuries, but it's still here. When fiat finally caves under the burden of its own issues, overdebtedness of the economy, etc., there will be a reset to another form of fiat, crypto currencies can gain a bigger market share as people lose confidence in fiat, but defeating it completely is unlikely, even if Bitcoin didn't have the flaws it has, it's still unlikely.
The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
Fiat hasn't existed for thousands of years.
The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
I personally don't think that bitcoin will defeat FIAT . at least not for the next couple of years.
It's all about what it came "first" . just an example "Bitcoin" is the first cryptoo currency => the most used. and not the other Altcoins it's the same on this case for Fiat money , Fiat money exist for thousands of years.
It's all about what it came "first" . just an example "Bitcoin" is the first cryptoo currency => the most used. and not the other Altcoins it's the same on this case for Fiat money , Fiat money exist for thousands of years.
Fiat hasn't existed for thousands of years. Your confusing fiat with money. Money has been around for a long time, almost always in the form of Gold. Currency backed by Gold isn't fiat. Plus history shows true fiats have a shelf life. Can fiats exist in a continous boom and bust cycle? Sure. But with Digital currencies on the horizon it's a bit like choosing to heat your house with oil lamps than electricity.
Fact is Fiat has a long history of dying after a certain amount of years. Next fact Bitcoin will never disappear. For that reason alone gives Bitcoin a big and long future to succeed. Take over maybe not but be a serious digital form of wealth, definetly. You can't kill Bitcoin you can kill fiat or more accurately fiat eventually kills itself.
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