Topic: Do you Still believe in Fiat? - page 15. (Read 75146 times)
I hope there is big difference between fiat and bitcoin. Fiat is every green currency but it can be restricted to specific country, now at present we are living because of fiat currency, still many countries depend on paper money, Fiat cannot be replaced by bitcoin. Bitcoin is limited supply but it was distributed to many parts of the world, In order to buy we need to have fiat currency in banks or in hands.
Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.
The main problem in bitcoin is that even in the case if it's going to be accepted everywhere on the same level as fiat - it will be not enough bitcoins to everyone. Bitcoin is limited by number of 21 million and the humanity is close to 8 milliards. And we know how wealth is spreading over the world - some people have more then enough and some nothing at all. 
Fiat money is still inevitable in our everyday life. The thing is that Bitcoin will probably never achieve that level of acceptance that it could completely compete with fiat. And I don't think that the whole world would change the mindset just like that so for a long time the financial systems would be depending exclusively on fiat.
We don’t need bitcoin to replace fiat, we just need bitcoin to reach enough adoption to allow us to live out of it without converting it first to fiat, as long as bitcoin becomes a parallel system to fiat where you can buy almost anything with it, then I will be happy with bitcoin.
The problem is, it will not happen in the future, bitcoin will not be widely accepted without using fiat. If fiat will not exist, bitcoin will be useless because it is primarily relying on the fiat money. It is just a payment system that has no value if will not be supported by the users, hence, it is not as valuable as fiat and cannot replace fiat at all. 
It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
Before any change that occurs around the world, people always say this that it is not possible. How will people adapt to the changes ? It will be a failure? and things like that.
The fact is that World is changing towards digital and therefore there is a need for digital currency. Hence Bitcoin is there to fulfill this change and need.
The fact is that World is changing towards digital and therefore there is a need for digital currency. Hence Bitcoin is there to fulfill this change and need.
Though the world is moving really fast towards digital systems and for sure every country will have to adopt the digital monetary system as well but we cannot be sure if that gap will be filled with bitcoin, because they can also create their own coins within their control so why would they adopt a coin that cannot be under their control?
It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
I agree. Compared to digital currencies, fiat is not limited by technology. Its an exchanged method used by people fir the longest time now. And i think crypto is also based on fiat so if in case it happens that crypto would overtake fiat as the top currency, i think it's nit going to be this genereration or the next generation to see it. Fiat is strong right now and i don't see anything changing even with bitcoin's boom
Which basically means that it's the currency that has the most chance to become obsolete anytime soon. I can't even think of a cryptocurrency that would surpass bitcoins simply because it's still in its development phase. Fiat, on the other hand, has been there for hundreds of years. They just update the design of the paper so they can collect all the old dirty and crumpled ones.
Fiat might not be limited to technology but it would come to the time when internet is accessible wherever you are so the use of technology wouldn't be a problem at all when we're going to use bitcoins as currency.
Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?
You git that right. I can't really see an economy running on digital currency entirely. Too many things needed to be conaidered if a switch to digital would take place and i think we're not ready for that kind of drastic change
Before any change that occurs around the world, people always say this that it is not possible. How will people adapt to the changes ? It will be a failure? and things like that.
The fact is that World is changing towards digital and therefore there is a need for digital currency. Hence Bitcoin is there to fulfill this change and need.
Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?
You git that right. I can't really see an economy running on digital currency entirely. Too many things needed to be conaidered if a switch to digital would take place and i think we're not ready for that kind of drastic change
That's true, bitcoin or other digital development won't pave path for a successful economy and governance of a country without fiat. Digitalization gives advancement and growth but fiat still gets used at some corner of the world due to the convenience it has provided.
Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?
You git that right. I can't really see an economy running on digital currency entirely. Too many things needed to be conaidered if a switch to digital would take place and i think we're not ready for that kind of drastic change
It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
I agree. Compared to digital currencies, fiat is not limited by technology. Its an exchanged method used by people fir the longest time now. And i think crypto is also based on fiat so if in case it happens that crypto would overtake fiat as the top currency, i think it's nit going to be this genereration or the next generation to see it. Fiat is strong right now and i don't see anything changing even with bitcoin's boom
It depends on witch country you live, i'm sure that users from countries where you see big devaluation of your currency like Venezuela, don't believe on its fiat money as an store of value, but they use on daily business. In this case people could invest on bitcoin its savings (now some of them invest on stronger currencies like dollars).
No matter you live you should not believe fiat. Using it is adverse us, all fiat will be replaced by another currency wich more apropriate for us. It could be gold or bitcoin.even in my opinion bitcoin higher risk with fluctuating prices, also use bitcoin is still limited.
Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other.
Fiat will always be there, as long as it is being distributed by the government, then it will be there, unless the government decided to remove it in circulation and change it with something else.
How can we make real money if fiat will lost?
That's not a problem anymore, when fiat would really disappear, that means the government has come up with something to replace it.
You are right that fiat is the main currency and it will not be replaced but it is sure that the use of fiat will be replaced sooner. Just like nowadays more people use online banking and banking cards they will sooner start to use bitcoin when they know about the convenience of the usage of bitcoin.
It will only be a matter of time until all of those come true, the use of fiat money will be greatly reduced in the future however this is not gonna be possible for some country as access to this is actually quite limited and people actually needs to be much more educated to be able to use other form of payment instead of just fiat
Nowadays bitcoin become popular not because a good currency
But a lot of people love to treat bitcoin as a way to grow their money through storing value there
Quite unfortunate about that , and we are here wishing bitcoin replace fiat? No , better to believe in both .
Even bitcoin is getting more and more popular, fiat doesn't reduce. If BTC would still exist in the future, I know fiat money too. They are both working together to provide us a better economy, depending on each other. How can we make real money if fiat will lost?
You are right that fiat is the main currency and it will not be replaced but it is sure that the use of fiat will be replaced sooner. Just like nowadays more people use online banking and banking cards they will sooner start to use bitcoin when they know about the convenience of the usage of bitcoin.
It will only be a matter of time until all of those come true, the use of fiat money will be greatly reduced in the future however this is not gonna be possible for some country as access to this is actually quite limited and people actually needs to be much more educated to be able to use other form of payment instead of just fiat
Unfortunately, we have no choice but to obey the law the government set, whether we like it or not we have to follow and comply with it. Bitcoin is anonymous and the government does not condone anonymous transaction as it could be shady in their eyes. That is the reason why AMLA was created, that is to ensure that transactions are legitimate and illegal transactions shall not be tolerated.
No doubt about that... If we only have a choice, surely our faith in fiat will be gone... Even if we say that we want to use bitcoin everyday, as long as there is no place in our locality where we can use it as it is, it won't work... Probably the more shady, suspicious transactions, and flaws unsolved, the farther we are in becoming mainstream and that only benefits the fiat/government each time we earn bitcoin and convert it to local currency...
yes you are right, the government will never support cryptocurrency. It is contrary to the principles of openness. We have to believe in fiat currency.
Unfortunately, we have no choice but to obey the law the government set, whether we like it or not we have to follow and comply with it. Bitcoin is anonymous and the government does not condone anonymous transaction as it could be shady in their eyes. That is the reason why AMLA was created, that is to ensure that transactions are legitimate and illegal transactions shall not be tolerated.
No doubt about that... If we only have a choice, surely our faith in fiat will be gone... Even if we say that we want to use bitcoin everyday, as long as there is no place in our locality where we can use it as it is, it won't work... Probably the more shady, suspicious transactions, and flaws unsolved, the farther we are in becoming mainstream and that only benefits the fiat/government each time we earn bitcoin and convert it to local currency...
Unfortunately, we have no choice but to obey the law the government set, whether we like it or not we have to follow and comply with it. Bitcoin is anonymous and the government does not condone anonymous transaction as it could be shady in their eyes. That is the reason why AMLA was created, that is to ensure that transactions are legitimate and illegal transactions shall not be tolerated.
Crypto currencies is obvious future of fiat and paper money. Will it be just bitcoin or some crypto currencies in used of future is question now. But the replacement will happen not so soon, because of there is millions of people who have no computers and no internet and even not a smartphone.
You're right so there's no reason not to believe in fiat because we currently interchangeably use them with the cryptocurrencies and we need them both to balance out ways of life. It's still early days for cryptocurrencies to completely substitute fiat.
I think that crypto is an investment option and a way to make payments, but for a small minority of people.
For most people it will always bee to complicated or not safe enough.
Those people want a certain amount of scurity, and that is something a currency which is completely under the rules of the market can not provide.
It can be complicated but that killer app we are all waiting on will most likely take all the hard stuff away for those that just want to use it without the hassles.
I think some countries will even start to release their own cryptocurrencies as they progress into a cashless society, it has already been tried by one i know of and that was Iceland with Auroracoin: https://en.wikipedia.org/wiki/Auroracoin
https://medium.com/the-nordic-web/the-failed-crypto-currency-experiment-in-iceland-251e28df2c54
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