Topic: Do you Still believe in Fiat? - page 22. (Read 75146 times)
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 .
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 .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.
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 .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.
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 .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?
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 .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 .
Fiat is very important everyday; if it was not made, did bitcoin will exist? Our local exchange added a new feature which is a virtual visa card and free to activate. So we can buy now the items in online merchants even they don't accept bitcoin as payment but with the help of visa, it converts the coins to fiat.
Is this a philosophic question, like 'Do you believe that the reality is real?' 
As mentioned before, fiat money is the blood of the today's world economy. Be it printed to death or not, it is used by all people without exception. Still, some day a solution to connect the fiat and crypto world will be released, and this will be the first step to the new economic system.
As mentioned before, fiat money is the blood of the today's world economy. Be it printed to death or not, it is used by all people without exception. Still, some day a solution to connect the fiat and crypto world will be released, and this will be the first step to the new economic system.You can already use bitcoins for your everyday purchases with a Bitcoin payment card. As far as I can see, this could potentially count as something connecting crypto and fiat financial worlds, though I don't think that it changed too much and whether it can be considered as the "first step to the new economic system". In fact, Bitcoin exchanges do that on a daily basis (i.e. connect fiat with crypto), and some of them have been operating for more than 5 years already (e.g. btc-e). Did it change much if anything at all?
Or do you mean something totally different or special?
Fiat is the main currency through which i can do all my daily work as still bitcoin is not in mainstream, and even bitcoin is valued through fiat currency only.
Is this a philosophic question, like 'Do you believe that the reality is real?' As mentioned before, fiat money is the blood of the today's world economy. Be it printed to death or not, it is used by all people without exception. Still, some day a solution to connect the fiat and crypto world will be released, and this will be the first step to the new economic system.
As mentioned before, fiat money is the blood of the today's world economy. Be it printed to death or not, it is used by all people without exception. Still, some day a solution to connect the fiat and crypto world will be released, and this will be the first step to the new economic system. You can't not believe in fiat, it is the basis of today's society!
Whether you feel that the system is flawed and bound to fail is another question.
If that were the question I would say that I think the governments of the world are doing a good job of propping up currencies that are being printed to death. I don't know if Crypto is the answer either, but maybe it is an answer along with commodity based/backed currencies.
Whether you feel that the system is flawed and bound to fail is another question.
If that were the question I would say that I think the governments of the world are doing a good job of propping up currencies that are being printed to death. I don't know if Crypto is the answer either, but maybe it is an answer along with commodity based/backed currencies.
That is correct. Fiat is traditional currency in the world at the present . We can not leave fiat for digital currency such as bitcoin or altcoins. People are using fiat everyday. If we want digital currency to be used as fiat, we must wait for long time to promote all people much more about digital currency. Once people know about digital currency , I believe that fiat will be gradually replace with digital currency
You can't not believe in fiat, it is the basis of today's society!
Whether you feel that the system is flawed and bound to fail is another question.
If that were the question I would say that I think the governments of the world are doing a good job of propping up currencies that are being printed to death. I don't know if Crypto is the answer either, but maybe it is an answer along with commodity based/backed currencies.
Whether you feel that the system is flawed and bound to fail is another question.
If that were the question I would say that I think the governments of the world are doing a good job of propping up currencies that are being printed to death. I don't know if Crypto is the answer either, but maybe it is an answer along with commodity based/backed currencies.
anyone with a clue would know that fiat is a scam. but until a viable alternative exists we are still stuck with fiat. if it would be bitcoin then thats good enough for me. if not then there must be some other coin to fill that need
if someone says fiat scam, I think he should not use or depend on the fiat fiat. fiat used centuries ago, and is used by all countries, there is no reason not to believe in fiat
Yes, using fiat is not really good for us, because the government can do endless printing of fiat, then the value is automaticaly decrease becouse of inflation. I prefer like to use bitcoin and gold as currency.
It's just how you adapt to the situation. If you just keep saving your fiat in your savings account for a long period of time without doing any effort to invest or hedge, then yes, you can bet on it that it will work against you in the long run. That's why it's important to invest at least 10% of your wealth. Only this way you can avoid seeing the value of your total wealth go down year on year (assuming you manage to profit). That's why I am glad to have Bitcoin that I am holding and using for trading purposes. This has helped me to increase the level of my wealth with at least 1000% since very early 2013. All thanks to Bitcoin.
anyone with a clue would know that fiat is a scam. but until a viable alternative exists we are still stuck with fiat. if it would be bitcoin then thats good enough for me. if not then there must be some other coin to fill that need
Yes, using fiat is not really good for us, because the government can do endless printing of fiat, then the value is automaticaly decrease becouse of inflation. I prefer like to use bitcoin and gold as currency. 
anyone with a clue would know that fiat is a scam. but until a viable alternative exists we are still stuck with fiat. if it would be bitcoin then thats good enough for me. if not then there must be some other coin to fill that need
I do not believe and will never believe in fiat ever again and I consider people who go from cryptocurrencies to fiat out of their minds.
No, they are not stupid. In fact, I consider them as wise. They are earning and really benefit from what cryptos could give them. Unlike others who are only earning a few and yet has the guts to keep it. But those who has large stash and sell it all and never came back are the stupid. Lets be practical, we can't live with crypto alone at this time. When everything else in the world can be paid with crypto then that's the only time that we could say what you are saying.
This two will help each other to give us a better future, it's the development because the world moves, so do we.
I do not believe and will never believe in fiat ever again and I consider people who go from cryptocurrencies to fiat out of their minds.
No, they are not stupid. In fact, I consider them as wise. They are earning and really benefit from what cryptos could give them. Unlike others who are only earning a few and yet has the guts to keep it. But those who has large stash and sell it all and never came back are the stupid. Lets be practical, we can't live with crypto alone at this time. When everything else in the world can be paid with crypto then that's the only time that we could say what you are saying.
Most people underestimate the complexity of a monetary system.
"Fiat" currencies are currencies that are not "backed" by a simple asset like gold. In this sense, even Bitcoin is a "fiat" currency. Now, I know, most of the members of this forum consider only state-issued currencies "fiat" currencies.
Such "state-fiat-currencies" are extremely complex systems, because money is a very complex system itself. But state-fiat-currencies are even more complex, because there are more actors to take into account (the Central Bank, external trade, capital flight, external speculators, etc.).
We, the Bitcoin users, can see that money is complex because of the simple fact that it's impossible to predict the Bitcoin price in a safe way. Why is this so? Because there is no universally accepted definition for "a bitcoin" aside from the mathematical one that it's equivalent to 100.000.000 satoshis. So it could be worth 1000 kg of, let's say, bread today and 500 kg tomorrow.
Well, with "state-fiat-currencies" it's the same. It's not guaranteed that you, today, will get the same amount of bread than tomorrow. But there is a complex system trying to guarantee that, taking into account not the price of a single (and simple) asset like gold but multiple indicators of the economy. It worked well for most of the time now.
I think "fiat" will continue working, in most of the cases. Bitcoin must gain traction on its own merit, not because of a "collapse" of the fiat system. It has multiple advantages for freedom-seeking people, so we can be bold about BTC's advantages without having to wait for a "fiat crash".
Disagree, Bitcoin and fiat are not backed by anything, but bitcoin is not fiat, bitcoin does not have value because the government says so, because the government decree bitcoin to have value, the idea behind bitcoin is the opposite, bitcoin is a currency not backed by precious metals and not backed by government decree. "Fiat" currencies are currencies that are not "backed" by a simple asset like gold. In this sense, even Bitcoin is a "fiat" currency. Now, I know, most of the members of this forum consider only state-issued currencies "fiat" currencies.
Such "state-fiat-currencies" are extremely complex systems, because money is a very complex system itself. But state-fiat-currencies are even more complex, because there are more actors to take into account (the Central Bank, external trade, capital flight, external speculators, etc.).
We, the Bitcoin users, can see that money is complex because of the simple fact that it's impossible to predict the Bitcoin price in a safe way. Why is this so? Because there is no universally accepted definition for "a bitcoin" aside from the mathematical one that it's equivalent to 100.000.000 satoshis. So it could be worth 1000 kg of, let's say, bread today and 500 kg tomorrow.
Well, with "state-fiat-currencies" it's the same. It's not guaranteed that you, today, will get the same amount of bread than tomorrow. But there is a complex system trying to guarantee that, taking into account not the price of a single (and simple) asset like gold but multiple indicators of the economy. It worked well for most of the time now.
I think "fiat" will continue working, in most of the cases. Bitcoin must gain traction on its own merit, not because of a "collapse" of the fiat system. It has multiple advantages for freedom-seeking people, so we can be bold about BTC's advantages without having to wait for a "fiat crash".
I'm used to bitcoin, and do not even think of throwing. I do not think that the prospects for real currency weak. Fiat will not fall ever.
It is not about fiat getting weaker, it is that bitcoin is finally getting some attention and some country with high inflation might be thinking of choosing it to replace their currency however that chance is very low atleast for now, in atleast ten more year more country will finally aware of its existence and people will start to consider it more
If they ever going to replace their fiat system, then it will be something that is being issued by the government itself, and not a decentralized incentive as Bitcoin.
It doesn't take much effort for governments to create their own digital currency where they remain the central authority of every aspect of their system/economy. That's the most likely scenario.
The first problem is to acquire enough bitcoin for everyone as the price is too expensive for them (on high inflation)
Second problem is decentralized currency that they can't control it, there will be unbalance spread among the citizens and lead to another crisis.
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