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Topic: Do you Still believe in Fiat? - page 31. (Read 75164 times)

hero member
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December 20, 2016, 03:19:11 PM
Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.
You are right but these are the chances that with the advancement of bitcoin it is sure that some resources will be developed so that people will not need internet for processing their bitcoin transactions and will use their bitcoins in the same method just like we use our bank ATM cards.
hero member
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December 20, 2016, 12:46:11 PM
Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.

Exactly, no matter how fiat is and how it works, no matter if it has taxes and other things that might bother some of us, though it may have many problems but it is always usable no matter where we go we can use fiat, but not bitcoins, so we can't help but believe in fiat.
It's not a matter of if it can be use offline or online. Fiat money being dominant has its reason, one major reason is a country's government. A government can dictate what is legal or illegal, some countries are even banning the use/owning Bitcoin. That is how the government works it can make there fiat money more important with their new laws. Fiat is something that everybody needs because it is what a country's most liquid asset.
legendary
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December 20, 2016, 11:56:57 AM
Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.

Exactly, no matter how fiat is and how it works, no matter if it has taxes and other things that might bother some of us, though it may have many problems but it is always usable no matter where we go we can use fiat, but not bitcoins, so we can't help but believe in fiat.

Fiat is accepted and widely used in every part of a country. Least known currency in my country is probably bitcoin.

As long as poverty and illiteracy remain in the country fiat will exist since the bitcoin users are requiring a proper device and proper internet connectivity which is lacking in many parts of the world along with knowledge about the security of the system - it is still not trusted by several people and looked upon as a ponzi scheme.

So bitcoin will be existing but fiat will also rule the world.

Well if you look at bitcoin economic system at this point, it resembles big ponzi scheme.  But before going berserk, let us define what ponzi scheme is.
Code:
Pon·zi scheme
ˈpänzē ˌskēm/
noun
a form of fraud in which belief in the success of a nonexistent enterprise is fostered
 by the payment of quick returns to the first investors from money invested by later investors.

Doesn't the definition resemble what is happening in bitcoin atm?  You can omit the fraud or nonexistent enterprise in that definition but it is true that  profit from bitcoin came from the money of the the later investors.
legendary
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So anyway, I applied as a merit source :)
December 20, 2016, 10:46:27 AM
Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.

Exactly, no matter how fiat is and how it works, no matter if it has taxes and other things that might bother some of us, though it may have many problems but it is always usable no matter where we go we can use fiat, but not bitcoins, so we can't help but believe in fiat.

Fiat is accepted and widely used in every part of a country. Least known currency in my country is probably bitcoin.

As long as poverty and illiteracy remain in the country fiat will exist since the bitcoin users are requiring a proper device and proper internet connectivity which is lacking in many parts of the world along with knowledge about the security of the system - it is still not trusted by several people and looked upon as a ponzi scheme.

So bitcoin will be existing but fiat will also rule the world.
sr. member
Activity: 672
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December 20, 2016, 10:29:52 AM
Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.

Exactly, no matter how fiat is and how it works, no matter if it has taxes and other things that might bother some of us, though it may have many problems but it is always usable no matter where we go we can use fiat, but not bitcoins, so we can't help but believe in fiat.
hero member
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December 20, 2016, 09:57:50 AM
Why you not believe in fiat ? I think everyone believe in fiat as believe in bitcoin. It's same imo, currency for paying or buying something. And bitcoins for online things.
Ofcourse , You Said true . As we are in Bitcoin work because we want earn Money in form of Bitcoin and then for our daily need we will convert Bitcoin into fiat without thinking anything , because before Bitcoin fiat is a main thing for which are making hardwork in the Bitcoin job .
hero member
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December 20, 2016, 09:46:27 AM
I will dare to guess most of the citizens in the world don't know how money really works, a lot of them will not understand it even if we explain it to them and some will refuse to understand it out of fear or something else, we are a minority those who have a lack of understanding of the world economy outnumber us.
legendary
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December 20, 2016, 09:35:02 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.
sr. member
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December 20, 2016, 02:09:34 AM
Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.
hero member
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December 19, 2016, 09:48:29 PM
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 .
sr. member
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December 19, 2016, 07:37:49 PM
It is hard to trust fiat, because their value is in some ways just an empty phrase in the decency of even the simplest metal coin that has its real cost and that has a gold reserve of the country.


Just because of that, that is making you think that fiat is hard to trust? I still believe in fiat, because we need it unless the government will replace it by another currency then I won't believe with it anymore. Just abide the law of the government and you'll be fine, whether it is with fiat or else you'll be fine for violating their very own rules.

i think i still believe fiat for now, because bitcoin is not yet accepting by my government and we know there are only few country that accepting bitcoin, maybe in future if my government accepted bitcoin and allow for using bitcoin as payment as fiat, then i will use both as my payment.

There might be countries who are accepting bitcoins already but still they are completely relying with their fiat currency. For they know that there is no total control if they will going to let bitcoin to have full control in their financial system. And for the people who are already used with fiat, they will have hard time if they will sudden shift into bitcoins.

I agree people that are used to fiat will have a hard time adopting something that is new for them.  They will always go back to the things they are comfortable using.  They don't want to move out of their comfort zone.
As for the government, they would gladly accept anything that will boost the country economy but they are limited to the laws and regulation of the state.  Aside from  that they always wanted to be in control.  If they feel that their control is somehow challenged, they will make sure that this thing will never be adopted by the government.
hero member
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December 19, 2016, 08:11:27 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,.
hero member
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December 19, 2016, 07:43:27 AM
It is hard to trust fiat, because their value is in some ways just an empty phrase in the decency of even the simplest metal coin that has its real cost and that has a gold reserve of the country.


Just because of that, that is making you think that fiat is hard to trust? I still believe in fiat, because we need it unless the government will replace it by another currency then I won't believe with it anymore. Just abide the law of the government and you'll be fine, whether it is with fiat or else you'll be fine for violating their very own rules.

i think i still believe fiat for now, because bitcoin is not yet accepting by my government and we know there are only few country that accepting bitcoin, maybe in future if my government accepted bitcoin and allow for using bitcoin as payment as fiat, then i will use both as my payment.
legendary
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December 19, 2016, 05:55:59 AM
It is hard to trust fiat, because their value is in some ways just an empty phrase in the decency of even the simplest metal coin that has its real cost and that has a gold reserve of the country.

Just because of that, that is making you think that fiat is hard to trust? I still believe in fiat, because we need it unless the government will replace it by another currency then I won't believe with it anymore. Just abide the law of the government and you'll be fine, whether it is with fiat or else you'll be fine for violating their very own rules.

If the government had stolen money from you a few times in the past through confiscatory monetary reforms as well as abrupt currency devaluations and continues to gradually devalue its currency, it is really hard to trust this currency (and the government) as well as remain a law-abiding citizen at that. Really, why should I give a fuck about the government if it chose to openly despise me through their actions and evidently cares more for their own well-being?

But you may of course continue to abide by the "law of the government"



Some can learn only the hard way, some can't learn at all

legendary
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December 18, 2016, 06:08:52 PM
It is hard to trust fiat, because their value is in some ways just an empty phrase in the decency of even the simplest metal coin that has its real cost and that has a gold reserve of the country.
As they say in the history of network experts fiatnyh money - to put it mildly, the history of failures. In fact, any attempt to force the state of the decree imposing the value of money, since the era of the Romans ended in devaluation and, ultimately, the collapse of not only the currency but the whole economic system.

Couldn't happen fast enough now, as far as I'm concerned. 
full member
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December 18, 2016, 05:50:11 PM
It is hard to trust fiat, because their value is in some ways just an empty phrase in the decency of even the simplest metal coin that has its real cost and that has a gold reserve of the country.
As they say in the history of network experts fiatnyh money - to put it mildly, the history of failures. In fact, any attempt to force the state of the decree imposing the value of money, since the era of the Romans ended in devaluation and, ultimately, the collapse of not only the currency but the whole economic system.
full member
Activity: 179
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December 18, 2016, 05:35:11 PM
It is hard to trust fiat, because their value is in some ways just an empty phrase in the decency of even the simplest metal coin that has its real cost and that has a gold reserve of the country.
hero member
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December 18, 2016, 05:17:33 PM
I still believe in fiat of course because I use it in daily transactions such as buying and selling goods or products. Fiat is the primary currency now and then. It will not be replaced by other projects because it is easy to use. Even there will be new payment methods now and in the future, fiat would still exist.
In fact fiat is still the need of the day, as the basic infrastructure of bitcoin are not available everywhere, and most of the people still do not know about bitcoin therefore they are using fiat primary and those people who know about bitcoin they are admitting the importance of bitcoin, they use bitcoin for most of their online activities as bitcoin is more convenient than fiat for online related things.
yes that is the main reason that we are believing on fiat, as the facilities of bitcoin are not yet available everywhere, therefore most of the people consider bitcoin their side business and continue using fiat as their main currency.

You need to use "fiat money" because they have a legal status, and all shop in a country must accept it.
So you cannot believe in fiat because one day they can disappear (more or less) but actually is the only solution available for payment.
to me the main reason is that bitcoin is still not available everywhere, and most of the people do not know about bitcoin, hope that in future bitcoin will be sue as fiat currency, and all the people of the world will have equal opportunities of using it.
I think they will not be same as fiat currency because bitcoin will always digital currency that i think it is good only for alternative payment method.. the good thing using bitcoin as alternative there is no hassle to use than the other payment methods.. the other good benefits are the price is not stable and the price is keep increasing.. we should believe on fiat even it is involve in taxes because it is our main currency or local currency..
sr. member
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December 18, 2016, 05:16:49 PM
If the answer is essentially the question raised, it is possible to answer unequivocally, that fiat money will be appreciated only if they produced a rich country, that their authority ensures their value. It goes without saying.
hero member
Activity: 560
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December 18, 2016, 04:13:58 PM
Yes i still believe it. Fiat is real, and fiat can do more than bitcoin so there is no reason to leave it.

Fiat is as unreal as you can get. It is printed with nothing backing it so in short it is useless paper you have been made to believe is real. Bravo.


Of course i still believe in fiat because without  fiat we could not use the cash in of our online wallet and its very important in terms of cash in hand transaction like buying goods requiring fiat currency. Not most of products or goods is adopting crypti currency thats why we need fiat in order for purchasing using cash like fiat.
For now, fiat is very dominant compared to any other asset and most if not all of the population in this world are using fiat even the whales in bitcoin. We cannot deny the fact that fiat is part of our life and we needed it on our daily transaction, to spend for our daily needs, leisure and any other activities.
Yeah, it's possible to realize that most people do not see fiat currency problems, and prefer to use that instead of other currencies. I think that before Bitcoin becomes mainstream, there will be a lot of resistance from people, especially skeptics and people who do not know the basics behind this technology.
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