Do you Still believe in Fiat? - page 38.

BitFinnese

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Quote from: deisik on December 04, 2016, 11:11:35 AM

Quote from: Shenzou on December 04, 2016, 08:34:16 AM

Fiat exists since the first civilization as long as there are humans around that give you service and talk to and interact with there has to be real money, what is bitcoin but an alternative way to pay without having to give you personal data or compromise your bank account , think about it bitcoin is just a digital currency that is based on the internet if there is no internet there is no bitcoin , if there is no electricity bitcoin will die but fiat won't so fiat has been and will forever be there.

You seem to have ditched a lot of history and economics classes

Quote from: deadpoolx on December 04, 2016, 08:44:00 AM

Quote from: kryptqnick on November 26, 2016, 02:25:07 PM

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.

To some extent, the government manages to maintain some stability, but this stability is temporary. With the passage of time the currency is being inflated with greater intensity, by intervention of the government, and contrary to the real need of individuas who use it. There comes a point where money is not able to meet their needs.

When that point is ultimately reached, the government just changes one fiat currency with another, and the cycle continues as before. If inflation is gradual, they don't even need to do that. Replacing the bills with less number of zeroes will suffice in most such cases. For example, if Trump is going to heavily devalue the US dollar during his term, he may decide to replace old and devalued Benjamin Franklin 100 dollar bills with new and precious Donald Trump 1 dollar bills...

In fact, many governments have used this trick in the past

and the people will still believe in the value advertised by the government. Reason is that, this government have all the authority. They decide which one should be use, of course with all the connections and controls, they can easily implement this kind of stuff and people will just have to follow. Well they are the one who give these people power to decide for the country anyway. I bet every citizen will believe if someone pass this kind of bill and is approved . After all citizen have to follow the set of rules implemented by its government.

deisik

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Quote from: Shenzou on December 04, 2016, 08:34:16 AM

Fiat exists since the first civilization as long as there are humans around that give you service and talk to and interact with there has to be real money, what is bitcoin but an alternative way to pay without having to give you personal data or compromise your bank account , think about it bitcoin is just a digital currency that is based on the internet if there is no internet there is no bitcoin , if there is no electricity bitcoin will die but fiat won't so fiat has been and will forever be there.

You seem to have ditched a lot of history and economics classes

Quote from: deadpoolx on December 04, 2016, 08:44:00 AM

Quote from: kryptqnick on November 26, 2016, 02:25:07 PM

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.

To some extent, the government manages to maintain some stability, but this stability is temporary. With the passage of time the currency is being inflated with greater intensity, by intervention of the government, and contrary to the real need of individuas who use it. There comes a point where money is not able to meet their needs.

When that point is ultimately reached, the government just changes one fiat currency with another, and the cycle continues as before. If inflation is gradual, they don't even need to do that. Replacing the bills with less number of zeroes will suffice in most such cases. For example, if Trump is going to heavily devalue the US dollar during his term, he may decide to replace old and devalued Benjamin Franklin 100 dollar bills with new and precious Donald Trump 1 dollar bills...

In fact, many governments have used this trick in the past

deadpoolx

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Quote from: kryptqnick on November 26, 2016, 02:25:07 PM

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.

To some extent, the government manages to maintain some stability, but this stability is temporary. With the passage of time the currency is being inflated with greater intensity, by intervention of the government, and contrary to the real need of individuas who use it. There comes a point where money is not able to meet their needs.

Positid

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Quote from: Rahar02 on December 04, 2016, 07:51:41 AM

Quote from: Bitcoinpro on March 20, 2016, 05:44:23 PM

the answer is obvious , if u never got into the

property cycle or dont have the uber high paying

job or welfare Queen status with Gov supplied housing

or lastly deal drugs,

u would hate Fiat to the core!

the endless print cycle is a joke Cheesy

Well, I never got into those things which I could feel or hate fiat to the core.
What I hate is banking system that take your money and pressing you with debt with high interest rates, so stay away from owe money.
Fiat is neutral thing, it works as you want and still an official medium of exchange that could last for a long time.

Where did you get the idea that banks give the highest interest, I think it's pretty normal to a business to charge you interest when you borrow money because that is there business, they want to be profitable but I can say they are giving the lowest interest compared to other lending institution.

zero1ten

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They way central banks manipulate inflation of currency, it is not far fetch to think a lot of people will lose confidence on fiat currencies considering you lose a lot of value on your hard earned money everytime inflations kick-in, so I for one, would definitely look on alternative ways to store my wealth without losing any value and bitcoin is a very promising solution besides precious metals.

Shenzou

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Fiat exists since the first civilization as long as there are humans around that give you service and talk to and interact with there has to be real money, what is bitcoin but an alternative way to pay without having to give you personal data or compromise your bank account , think about it bitcoin is just a digital currency that is based on the internet if there is no internet there is no bitcoin , if there is no electricity bitcoin will die but fiat won't so fiat has been and will forever be there.

Rahar02

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Quote from: Bitcoinpro on March 20, 2016, 05:44:23 PM

the answer is obvious , if u never got into the

property cycle or dont have the uber high paying

job or welfare Queen status with Gov supplied housing

or lastly deal drugs,

u would hate Fiat to the core!

the endless print cycle is a joke Cheesy

Well, I never got into those things which I could feel or hate fiat to the core.
What I hate is banking system that take your money and pressing you with debt with high interest rates, so stay away from owe money.
Fiat is neutral thing, it works as you want and still an official medium of exchange that could last for a long time.

X-ray

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Quote from: equator on December 04, 2016, 05:41:36 AM

Quote from: TheUltraElite on December 04, 2016, 05:34:19 AM

Quote from: SvenBomvolen on December 04, 2016, 05:20:48 AM

Quote from: coin-investor on December 01, 2016, 11:54:52 AM

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

One more point is what and all you can do with fiat currency that you cannot do in bitcoin in current situation. Still their are so many country where Bitcoin is not recognized or cannot do anything with bitcoin in real life. Like in my country still cannot do anything with bitcoin as it is not accepted anywhere in out country the only option is to convert it to fiat currency and enjoy it. So for us Bitcoin is a investment like gold and silver for future benefit

You really forgot about the simplicity of using debit card then. it's actually really helpful in some countries like yours, you just don't need to wait some store until they accept bitcoin but you will use that debit card directly to buy on them and it's accepted everywhere as long the merchant accepting any kind of cards,it's that easy.

frankmb

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Fiat for me is a necessary evil, it's the biggest worldwide conspiracy where 95% of earth population beliefs in and are dedicated to.
But as it is now I will still have to use it, until I can trade some paper btc wallets for a bread.

equator

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Quote from: TheUltraElite on December 04, 2016, 05:34:19 AM

Quote from: SvenBomvolen on December 04, 2016, 05:20:48 AM

Quote from: coin-investor on December 01, 2016, 11:54:52 AM

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

One more point is what and all you can do with fiat currency that you cannot do in bitcoin in current situation. Still their are so many country where Bitcoin is not recognized or cannot do anything with bitcoin in real life. Like in my country still cannot do anything with bitcoin as it is not accepted anywhere in out country the only option is to convert it to fiat currency and enjoy it. So for us Bitcoin is a investment like gold and silver for future benefit

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: SvenBomvolen on December 04, 2016, 05:20:48 AM

Quote from: coin-investor on December 01, 2016, 11:54:52 AM

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Well fiat is definitely a part of our daily payments modes and its tough for bitcoin to take away that place. The fiat will remain even if bitcoin becomes very popular. Most of the people in the world are not ready to accept bitcoin in all their payment modes and hence fiat will remain and people will believe in it.

SvenBomvolen

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Quote from: coin-investor on December 01, 2016, 11:54:52 AM

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

Its much easier to like it when you have it. Its a privilege to spent money every day, many of us here forgot that feeling. We use fiat to buy food, drinks and other things we need, just fiat can be used for many other things also.
With a lot of money you are out, you can buy house and you can make your own electricity, water and just with a lot of money you can be independent.

Kewatia

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Quote from: boyptc on December 02, 2016, 03:13:00 AM

Quote from: coin-investor on December 01, 2016, 11:54:52 AM

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

And we don't have choice but to keep on using it because it is massively used world wide. Because even though we wanted to use bitcoin, we are just few in the world that are using it as of now. So, we just need to go with the flow but if a big and powerful country will be able to adopt bitcoins and totally dumps fiat, then small country will follow.

For the time being, we have to use fiat. But in the mean time, some shops also accept the bitcoin. We should also use that.

boyptc

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Quote from: coin-investor on December 01, 2016, 11:54:52 AM

Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

And we don't have choice but to keep on using it because it is massively used world wide. Because even though we wanted to use bitcoin, we are just few in the world that are using it as of now. So, we just need to go with the flow but if a big and powerful country will be able to adopt bitcoins and totally dumps fiat, then small country will follow.

coin-investor

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Like it or not we have to believe,it's part of our system,government imposed to it's citizen,you cannot boycott it,because you're using it daily and it's why you exist in your country,you can only get it out of your system if you are alone in a jungle.

Babayega31

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Quote from: kryptqnick on November 26, 2016, 02:25:07 PM

Why shouldn't I believe in Fiat? Governmental regulation guarantees stability in a way. I understand that Bitcoin is profitable and popular and yet we all mostly use fiat money, right? Because that's the money for which you can really buy something.

Yes i should believe in fiat, because its mostly used in our economic growing businesses in our country. Bitcoin is great actually in digital currency trading and good in profit gaining source but fiat is more popular and recognized in our country's government.

deisik

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Quote from: Japinat on November 26, 2016, 10:56:27 PM

Quote from: Junko on November 26, 2016, 08:05:05 PM

It's not a matter of believing in fiat. It's more about understanding how it works and how and why it can be manipulated.

Well, may I know how can a fiat be manipulated? Seems very new to me so please do enlighten me

There is nothing new under the moon

Manipulating a national currency ("fiat"), if we can call that so, is one of the primary aims that central banks are pursuing. It is properly called monetary policy and includes a lot of instruments, outright administrative and purely economic, that basically aim at regulating how much money is in the economy at any given moment and ultimately controlling inflation rates. The most used tools are changing reserve requirements, i.e. what part of their money banks should hold as reserves in the Central bank, and through interest rates, i.e. at which interest rate the banks can lend these reserves to other banks

Positid

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Quote from: daringdiscovered on November 27, 2016, 01:50:45 AM

I still believe in fiat because bitcoin is nothing if there is no fiat. But in terms of value i believe more in bitcoin. Through the years bitcoin's value is continuously rising. From its 200$ price when i started using it and now it is almost 800$. And it will rise even more in the future. Maybe next year it will hit 1000$ or more.

Well, its good to be optimistic, the price is great and it's progressive so it's good to consider investing now. The past is the best basis since on a yearly basis we see bitcoin is growing it's value. We just have to believe that people will accept bitcoin that it's a big help for them so they will not hesitate to adopt.

daringdiscovered

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I still believe in fiat because bitcoin is nothing if there is no fiat. But in terms of value i believe more in bitcoin. Through the years bitcoin's value is continuously rising. From its 200$ price when i started using it and now it is almost 800$. And it will rise even more in the future. Maybe next year it will hit 1000$ or more.

freedomgo

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Quote from: myparentsdisownedme on November 27, 2016, 12:16:41 AM

I feel like a noob since IDK what Fiat is

Can anyone give me some reading sources, im a big dummy

In the first place you shouldn't be here, you are insulting your self. It's online mate and every information is possible, you need to learn it as it just requires you some initiative to do.

The answer is research.

Topic: Do you Still believe in Fiat? - page 38. (Read 75146 times)