Do you Still believe in Fiat? - page 21.

achow102

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Quote from: Rinder on January 13, 2017, 09:20:50 AM

How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.

Yes, you are right, digital forms of money is very promising and convenient. But many people are conservative and used to use paper money. Similarly, they do not trust cryptocurrency. Therefore, Fiat will long live

Rinder

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How many times people need to read that bitcoin wont be replacing anything, neither currencie neither some companies that offers money services like paypal and Wester Union. Bitcoin its just an option to the current fiat system. Fiat is the main way that transactions are made nowadays, even being digital, its used anywhere and accepted anywhere, but people are learning faster about technology, and we must advance to the futurem, that should become digital.

gabmen

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Quote from: Sithara007 on January 13, 2017, 03:15:39 AM

The importance of fiat is evident from the very fact that the exchange rate of Bitcoin is given in fiat currencies such as the United States Dollar, Russian Ruble, the United Kingdom Pound, Chinese Yuan, and Euro. Why the exchange rates are not given in gold or platinum?

You got that right dude. Even with the rapid pace that digital currency is moving forward now, majority of the people still wpuld prefer fiat over digital transactions. Fiat still holds the world's markets and i also don't see this changing most likely during this generation. Crypto at the moment or for the next couple of years would act as support or alternative for the current reigning fiat currency

Xenophoto

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Quote from: Sithara007 on January 13, 2017, 03:15:39 AM

The importance of fiat is evident from the very fact that the exchange rate of Bitcoin is given in fiat currencies such as the United States Dollar, Russian Ruble, the United Kingdom Pound, Chinese Yuan, and Euro. Why the exchange rates are not given in gold or platinum?

Because gold and platinum isn't a currency. Well, if you'd prefer exchanging your bitcoins to that, then look for a website that sells gold. But in cryptocurrency, it would be mainly fiat and other cryptocoins.

Simply look at a physical money exchanger. Do they exchange your dollar into gold directly? No. Because it is not a currency. That information alone doesn't make fiat important, although it is.

Quote from: Mbah Slamet on January 13, 2017, 12:45:42 AM

Yes, this is a fact that is undeniable, perhaps using bitcoin is no more than 3℅ of the world's population, so for current and 20 years from now is still impossible to eliminate fiat money. there are still many things to be improved if it is to eliminate fiat money, and it takes a long time.

I think it's even just around 0.1% of the world's population or even much less than that. We're lucky to be the ones to have bitcoins but unfortunately that comes with a disadvantage: we will be the one that's going to wait the longest for bitcoin to completely replace fiat money.

Sithara007

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The importance of fiat is evident from the very fact that the exchange rate of Bitcoin is given in fiat currencies such as the United States Dollar, Russian Ruble, the United Kingdom Pound, Chinese Yuan, and Euro. Why the exchange rates are not given in gold or platinum?

EdenHazard

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Quote from: acroman08 on January 12, 2017, 09:36:43 PM

Quote from: EdenHazard on January 12, 2017, 06:50:21 PM

Quote from: Rachelin on January 11, 2017, 04:58:19 AM

I can believe in fiat at this time but in the future I can not because we are using smart devices in the digital world and we can use payment tools online such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .

as time goes by i believe the time for bitcoin will come soon.

not for now , too early to say have no believe in fiat since we have spend money for daily needs in cash , not digital currency. in the next 10-20 years it might can happened. even bitcoin can be an international currency.

Ver unlikely to happen that bitcoin will become an international currency, governments can
make digital currency that can rival bitcoin which is likely to happen if they implement a digital currency.

but still the mother of cryptocurrency , the mother of digital money is bitcoin isn't it?

if then every government around the world creates their own cryptocurrency they will still refer to bitcoin which in the end people will come to bitcoin as option, it is required a long long time to beat bitcoin as digital money.

erwin45hacked

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Quote from: Hatuferu on January 12, 2017, 11:45:13 PM

It's just an online currency that we can use to transact but it still relies heavily on fiat.

Bitcoin is meant to be more than just that , atleast for ow its exchange rate is based on fiat however in the future bitcoin could be getting its own value. More and more country is finally getting their hands on bitcoij so such thing is not really impossible as there are tons of opportunity for bitcoin to develop more especially when a country adopt bitcoin as their currency though i highly doubt that happen

webtricks

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Yes, ofcourse, all of us believe in fiat!!
Tell me, the Bitcoin enthusiasts become happy one day and sad other day. Why?
All because value of Bitcoin measures again fiat money only. I think bitcoin can never replace fiat money for "Measure of value" function.
However, it can be used as "medium of exchange" , "store of value" , "standard of deferred payment" but only adjacent to fiat money!!

Mbah Slamet

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Quote from: jualidbitmixer on January 12, 2017, 11:22:44 PM

Of course i still believe in fiat, because many people around the world also using fiat as the payment. I'm sure all people still believe in fiat. Actually i also believe in bitcoin, but still few people that know about bitcoin. Fiat will still used until the electric money come.

Yes, this is a fact that is undeniable, perhaps using bitcoin is no more than 3℅ of the world's population, so for current and 20 years from now is still impossible to eliminate fiat money. there are still many things to be improved if it is to eliminate fiat money, and it takes a long time.

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Quote from: jualidbitmixer on January 12, 2017, 11:22:44 PM

Of course i still believe in fiat, because many people around the world also using fiat as the payment. I'm sure all people still believe in fiat. Actually i also believe in bitcoin, but still few people that know about bitcoin. Fiat will still used until the electric money come.

We cannot deny the fact that although we are bitcoin lover but still we need fiat for our daily activities in life, in the future bitcoin will be more popular but the fiat system is still gonna work. It's just an online currency that we can use to transact but it still relies heavily on fiat.

jualidbitmixer

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Of course i still believe in fiat, because many people around the world also using fiat as the payment. I'm sure all people still believe in fiat. Actually i also believe in bitcoin, but still few people that know about bitcoin. Fiat will still used until the electric money come.

Shiroslullaby

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Very interesting book about the United States Federal Reserve.
I truly believe that everyone in the world should read this. It will change the way you think about banks and money.
https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/091298645X

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Quote from: HabBear on January 12, 2017, 07:37:58 PM

I believe in fiat so much I use it every day!

Seriously though, we don't want Bitcoin to overtake fiat. If we do we'll see every major power in the world seeking to exert influence and control over it. It's best if bitcoin is broadly available and accepted and thriving a step outside the spotlight. That is what will keep it going and give it unlimited and unhampered success.

You also use computers every day, but do you believe computers will continue to remain unchanged in the next 20 years?
Fiat may be something that has been there for the years, but times change. In a couple years people will completely switch to electronic banking and paying with cards, their phones, watches and so on. Next those who will want more control over their money will start using electronic currency and as demand will rise more businesses will start to accept crypto. It's progress.

CryptoUser25

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Quote from: Rachelin on January 11, 2017, 04:58:19 AM

I can believe in fiat at this time but in the future I can not because we are using smart devices in the digital world and we can use payment tools online such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .

Partly you are right but I think there always will be existing countries were digital payments are simply not possible, I must say that I still believe in Fiat if I think about such situations.

TokenGuy

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Quote from: vantyzz on January 11, 2017, 05:27:16 AM

Quote from: Rachelin on January 11, 2017, 04:58:19 AM

I can believe in fiat at this time but in the future I can not because we are using smart devices in the digital world and we can use payment tools online such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .

yes you are right, the whole world is moving towards digital technology. But Fiat is a moral people need. for many people it is very important to have in your pocket paper money

Indeed it stays needed no matter what so I think on that way its not something that is gonna be disappearing, I also think that a lot of people stay believing in it and I also do because it stays a good pay method no matter what.

acroman08

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Quote from: EdenHazard on January 12, 2017, 06:50:21 PM

Quote from: Rachelin on January 11, 2017, 04:58:19 AM

I can believe in fiat at this time but in the future I can not because we are using smart devices in the digital world and we can use payment tools online such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .

as time goes by i believe the time for bitcoin will come soon.

not for now , too early to say have no believe in fiat since we have spend money for daily needs in cash , not digital currency. in the next 10-20 years it might can happened. even bitcoin can be an international currency.

Ver unlikely to happen that bitcoin will become an international currency, governments can
make digital currency that can rival bitcoin which is likely to happen if they implement a digital currency.

HabBear

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I believe in fiat so much I use it every day!

Seriously though, we don't want Bitcoin to overtake fiat. If we do we'll see every major power in the world seeking to exert influence and control over it. It's best if bitcoin is broadly available and accepted and thriving a step outside the spotlight. That is what will keep it going and give it unlimited and unhampered success.

EdenHazard

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Quote from: Rachelin on January 11, 2017, 04:58:19 AM

I can believe in fiat at this time but in the future I can not because we are using smart devices in the digital world and we can use payment tools online such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .

as time goes by i believe the time for bitcoin will come soon.

not for now , too early to say have no believe in fiat since we have spend money for daily needs in cash , not digital currency. in the next 10-20 years it might can happened. even bitcoin can be an international currency.

wxa7115

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Quote from: tech_solutions on January 11, 2017, 04:41:29 AM

Quote from: danherbias07 on January 11, 2017, 04:31:42 AM

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Quote from: molsewid on December 19, 2016, 09:11:27 AM

ofcourse yes we still using it on our everyday life when we buy foods, drinks, gas, payrent and even buy things we're using fiat system. fiat system is still alive even bitcoin is being popular this day. bitcoin is created for backup purposes in near future. but still our government will never let fiat system to disappear because thats the only thing for balance circulation of the economy,.

Yeah satisfied with you . Because Bitcoin is not much famous and we need to go through fiat to complete our daily needs , So fiat is a important part of our life whether we have any believe in fiat or not .

Yes you are right however fiat will remain a major currencies although in the future there will be the famous digital currency but we can not as easy as it switches from fiat, honestly the possibility was very small because the government will never let it happen.

Fiat is we all we need to convert or exchange our bitcoin im not that kind of rich man where i always stocked or hold my bitcoin to my bitcoin wallet i never doubt bitcoin but since fiat currency is there to help us with the exchange currency why we don't believed on fiat right? It will never goverment happen im assure with that.

Whatever our reason we are still stock with the reality that our bitcoins will be useless without fiat. Look at the value of bitcoin now, what we are seeing is the value in fiat so if there's no fiat how are we gonna determine bitcoin. Everything we do in terms of transaction, we need to finally convert it to fiat to make use of it in the real world.

Which fiat do you refer to exactly?

There are many fiats out there. Whatever, if fiat disappears one day, would Bitcoin be useless and worthless? I'm more inclined to think that it will only gain in value and application since it will be used directly as intended, i.e. as a currency, instead of fiat now gone. Gold is also priced in fiat but does it mean that without fiat it will be worthless? In fact, everything that you can sell and buy is priced in fiat and so what?

Good point. Well history didnt tell that there have been fiat since the world was created. We are getting higher when it comes to technology but some countries are sti crawling to that part. I dont think we will still see if bitcoin will be used as a regular currency. But it would be fun if ever it is done with my lifetime.

Never bitcoin will become main stream currency for any country as the bitcoin circulation is very less comparing to the population of the world, Think if the fiat currency is vanished and Bitcoin is used then how are you going to use bitcoin valued in goods, then it will become like 100 satosi for 1 chocolate and 1000 satoshi for vegetables, This way only the bitcoin can be used if at all it comes to main stream currency.

So? That only means bitcoin will become very valuable if adopted by the general public, that is why we are holding our bitcoin in the first place to benefit from the rise in price when bitcoin is adopted by a large number of the people of the world.

vantyzz

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Quote from: Rachelin on January 11, 2017, 04:58:19 AM

I can believe in fiat at this time but in the future I can not because we are using smart devices in the digital world and we can use payment tools online such as bitcoin, altcoins for it. I feel easier ans faster than fiat. it does not need much private information or verification on payment and It's easy to transfer money to another one .

yes you are right, the whole world is moving towards digital technology. But Fiat is a moral people need. for many people it is very important to have in your pocket paper money

Topic: Do you Still believe in Fiat? - page 21. (Read 75146 times)