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Topic: Do you Still believe in Fiat? - page 4. (Read 75164 times)

full member
Activity: 238
Merit: 100
March 09, 2017, 09:55:06 PM
I believe in Fiat because it will always be protected by the government. Fiat is a way of controlling people, so it will never disappear

Yeah right, we have to admit that using bitcoin is still limited and has not been widely used for direct transactions. I hope many places approved bitcoin, so that it can reduce the fiat money.
hero member
Activity: 2954
Merit: 672
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March 09, 2017, 09:33:27 PM
I believe in Fiat because it will always be protected by the government. Fiat is a way of controlling people, so it will never disappear

Then what if the government starts to shift? what if government uses bitcoin to control people?


To be honest, I am still using fiat as there is no other way in where I live to survive using bitcoin alone. If there is a way to eat and pay  my taxes with bitcoin, I could try living 50/50 between bitcoin and fiat.

Without fiat, my everyday walk of life will be paralyzed.
I guess it's impossible to happen, the government will not shift to be bitcoin because they have fiat which they created and who would they control people when bitcoin is decentralized. They do not know who owns most of bitocin and even if they know that is unlikely to happen.
Government will protect what they created and this world will always be centralized under their control and governance.
sr. member
Activity: 266
Merit: 250
March 09, 2017, 08:59:52 PM
I believe in Fiat because it will always be protected by the government. Fiat is a way of controlling people, so it will never disappear

Then what if the government starts to shift? what if government uses bitcoin to control people?

To be honest, I am still using fiat as there is no other way in where I live to survive using bitcoin alone. If there is a way to eat and pay  my taxes with bitcoin, I could try living 50/50 between bitcoin and fiat.

Without fiat, my everyday walk of life will be paralyzed.
hero member
Activity: 826
Merit: 501
March 09, 2017, 02:15:16 PM
I believe in Fiat because it will always be protected by the government. Fiat is a way of controlling people, so it will never disappear
legendary
Activity: 1008
Merit: 1060
March 09, 2017, 07:32:06 AM
I have hated fiat once I understood the history and toxicity around the control and usage of it.  I believe in the power and growth/potential that Bitcoin exhibits. Once I learned the true nature of the banksters/fed/world banks I understood we needed a decentralized currency that wasn't bound by endless regulations and restrictions. #longlivethe BTC

When gold was removed from the scene, fiat has become virtual. All of the value of fiat is a mere illusion. It doesn't have a value at all. The price of fiat is depending on the economy of the country and how many fiat is in regulation. It's just the same thing as bitcoin, they are both not backed by anything that is actually valuable. The only difference is that fiat is regulated so much while you get freedom with bitcoins. And bitcoin is decentralized, the whole thing actually depends on the supply/demand law unlike fiat which is centralized. Whatever foolish decisions your government does, it will affect you as you're using their fiat.
legendary
Activity: 1124
Merit: 1000
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March 08, 2017, 03:43:38 PM
I have hated fiat once I understood the history and toxicity around the control and usage of it.  I believe in the power and growth/potential that Bitcoin exhibits. Once I learned the true nature of the banksters/fed/world banks I understood we needed a decentralized currency that wasn't bound by endless regulations and restrictions. #longlivethe BTC
Perhaps in the future it will be so. But for today we are completely dependent on Fiat. I'm worried about something else. How can states exist if their main source of income is removed. Taxes fill the budget, and the entire industry is already in personal ownership. How to deal with this?

This opinion that for today we are completely dependent on Fiat is true... I can't go to my local super market and buy things for my home paying with Bitcoins...
The same for other things we all need in daily basis, yes of course there is the option to take a card load with Btc and pay with this debit card buy the fees they do have keeps me away up to now ..

But the interesting part for the current situation is that i can take the plane and using local bitcoins get cash to another country right away Smiley it's just amazing!
sr. member
Activity: 284
Merit: 250
March 08, 2017, 02:35:56 PM
I still do believe in fiat thats being part of our daily life, daily needs. Its difficult to live without this as this is our form of currency to buy goods just to survive. Though bitcoin is currently being used as currency, I beleived it has a brighter future.

I agree with you. We still can not live without a mint currency. It is of great importance in our life. But we must also use bitcoin to make it even more popular
full member
Activity: 185
Merit: 100
March 08, 2017, 02:31:32 PM
I have hated fiat once I understood the history and toxicity around the control and usage of it.  I believe in the power and growth/potential that Bitcoin exhibits. Once I learned the true nature of the banksters/fed/world banks I understood we needed a decentralized currency that wasn't bound by endless regulations and restrictions. #longlivethe BTC
Perhaps in the future it will be so. But for today we are completely dependent on Fiat. I'm worried about something else. How can states exist if their main source of income is removed. Taxes fill the budget, and the entire industry is already in personal ownership. How to deal with this?
sr. member
Activity: 1148
Merit: 251
March 08, 2017, 11:36:50 AM
I still do believe in fiat thats being part of our daily life, daily needs. Its difficult to live without this as this is our form of currency to buy goods just to survive. Though bitcoin is currently being used as currency, I beleived it has a brighter future.
legendary
Activity: 1008
Merit: 1060
March 08, 2017, 08:25:54 AM
Fiat money is money that is guaranteed to the State, of course I never hesitate. the use of the bitcoin I think only as an alternative, fiat money is still the largest and can not replace by any included bitcoin.
Yeah that's true fiat is really old and it has been around for more than 500 years while bitcoin is just a 8 year old digital currency which currently has many flaws which can affect the use of it in daily life while fiat is instant as we don't need any sort of confirmation and it is widely accepted anywhere in the world.

Fiat is guaranteed by the State, yes, but at any given time, the State can turn their back to their people and say that they aren't backing the fiat anymore. That's why it's still risky to put all of your money in fiat even though it's very unlikely to happen. Fiat has been around for a really long time, it came around 700 BC (Source: History of Coins) which makes the concept of it very very old. Everything will eventually be replaced by something better and once everyone started using bitcoins, fiat will be replaced by bitcoins.
sr. member
Activity: 462
Merit: 250
March 07, 2017, 02:01:17 PM
Fiat money is money that is guaranteed to the State, of course I never hesitate. the use of the bitcoin I think only as an alternative, fiat money is still the largest and can not replace by any included bitcoin.
Yeah that's true fiat is really old and it has been around for more than 500 years while bitcoin is just a 8 year old digital currency which currently has many flaws which can affect the use of it in daily life while fiat is instant as we don't need any sort of confirmation and it is widely accepted anywhere in the world.
Fiat is still a very important part of our life and without it i think it is very difficult to lead a normal life as we still mostly depend on bitcoin for most of the activities and that is the reason that still bitcoin is one of the most important part of our life.
full member
Activity: 218
Merit: 100
March 07, 2017, 01:42:54 PM
I, just like everyone else in the free markets, will believe in the "utility" of fiat up until the point that it loses faith amongst the masses. This has happened every time in history, for every fiat experiment. There is no fiat currency that has latest forever.

I agree with you. There is nothing that will exist forever. I use fiat, but I have no faith in it. It's just a means to make payments. And bitcoin has great potential
legendary
Activity: 3514
Merit: 1280
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March 07, 2017, 11:32:37 AM
Definitely yes still believe in fiat this is our need in everyday we live in we need fiat to buy our needs.  And most important is fiat is needs everyone and fiat is so mean to everyone in this world for their expenses everyday. 

There's even no need for unbelieving fiat. Because we know that we need to keep on believing and it is a need for using for our daily lives. And though I'm trying to adopt and live myself with bitcoin on my daily live. Still there is a need for me to keep on believing and use fiat because there's no way to use it on my country for now.
Think of it this way, what will a country use if Fiat suddenly vanish? Of course it is hard to say but definitely there would be chaos as there will be no right trading system in which the value of an good is not equal to the value of what you want or try to exchange with it. With Fiat it helps satisfy the current fair market value of the good in which all will agree to it.

The most reasonable question is what impact if dollar suddenly disappeared because of war or political conditions can't be controlled.

The whole country will try to be center of world money if that happens. But if indeed the entire fiat suddenly gone, there will be absolute chaos and bitcoin will become completely worthless. I believe bitcoin can replace fiat if bitcoin have physical currencies, because not everyone has ability to access financial system through Internet

I think it will only rise in value

Fiat is a competitor to Bitcoin, but if a competitor disappears its place will soon get taken by other competitors. If fiat disappears (let's assume that), does it mean that all economic activity will freeze at the same very moment? There is no plausible reason to think like this. Money is only a tool for exchange, and anything which possesses certain qualities can be used as a money token. Today, it is primarily the capacity of transferring value over long distances (read around the world) in the shortest possible time. And Bitcoin looks pretty good in this department. There are issues but these are mostly technical ones and could be quickly fixed if such an urgent need arises
legendary
Activity: 1540
Merit: 1029
March 07, 2017, 09:14:29 AM
I, just like everyone else in the free markets, will believe in the "utility" of fiat up until the point that it loses faith amongst the masses. This has happened every time in history, for every fiat experiment. There is no fiat currency that has latest forever.
hero member
Activity: 812
Merit: 510
March 07, 2017, 08:49:49 AM
Fiat money is money that is guaranteed to the State, of course I never hesitate. the use of the bitcoin I think only as an alternative, fiat money is still the largest and can not replace by any included bitcoin.
Yeah that's true fiat is really old and it has been around for more than 500 years while bitcoin is just a 8 year old digital currency which currently has many flaws which can affect the use of it in daily life while fiat is instant as we don't need any sort of confirmation and it is widely accepted anywhere in the world.
hero member
Activity: 1246
Merit: 529
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March 07, 2017, 08:47:51 AM
I do not believe in the Fiat, but I can not live without it. All my mandatory payments are made in fiat currency. The Government has made me addicted to Fiat.

The government has not made you addicted to fiat, your needs made you addicted to fiat. To fulfill your needs and expenses you need a fiat so you should believe on fiat until the other currency is accepted in your country.

Exactly, because bitcoin is not accepted everywhere, but once it is accepted people will start using bitcoin for the daily lifestyle. In coming days definitely fiat currency will deviate with bitcoin.
yes that can only be the reason that people are still using bitcoin as it is not available everywhere. i think the use of bitcoin for those people who do not have good knowledge about computer and internet they also do not give preference to bitcoin .

Fiat has been used for the longest time that it's requirements are at the very minimal and almost all people can use and have access to it. I think that's the most challenging thing for bitcoin or for any digial currency at that. Availability is fiat's advantage and I think it would stay that way as long as a lot of people would have difficulty with online access.
legendary
Activity: 2954
Merit: 1153
March 06, 2017, 06:57:12 PM
I do not believe in the Fiat, but I can not live without it. All my mandatory payments are made in fiat currency. The Government has made me addicted to Fiat.

Lol, you are just having a contradicting ideas.  I bet you do believe in fiat but does not have faith in it.  It is the same as what I felt towards fiat currency.  I believe in it but do not have faith in a sense that it is merely controlled by the government and anytime they wanted to change it, they can change it.  The fate of it lies only to a few individual that think and plan on how they want it to be.  They can even nullify the value of currency we are holding in our banks and declare another notes or kind of money that will be use instead of the one we are holding.  This simply conclude that I do not have faith with the people/government that is manufacturing and controlling fiat currency though I believe that I need fiat currency to exist in this world.
hero member
Activity: 532
Merit: 500
March 06, 2017, 06:47:43 PM
I do not believe in the Fiat, but I can not live without it. All my mandatory payments are made in fiat currency. The Government has made me addicted to Fiat.

The government has not made you addicted to fiat, your needs made you addicted to fiat. To fulfill your needs and expenses you need a fiat so you should believe on fiat until the other currency is accepted in your country.

Exactly, because bitcoin is not accepted everywhere, but once it is accepted people will start using bitcoin for the daily lifestyle. In coming days definitely fiat currency will deviate with bitcoin.
yes that can only be the reason that people are still using bitcoin as it is not available everywhere. i think the use of bitcoin for those people who do not have good knowledge about computer and internet they also do not give preference to bitcoin .
legendary
Activity: 2492
Merit: 1001
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March 06, 2017, 01:00:47 PM
I do not believe in the Fiat, but I can not live without it. All my mandatory payments are made in fiat currency. The Government has made me addicted to Fiat.

The government has not made you addicted to fiat, your needs made you addicted to fiat. To fulfill your needs and expenses you need a fiat so you should believe on fiat until the other currency is accepted in your country.

Exactly, because bitcoin is not accepted everywhere, but once it is accepted people will start using bitcoin for the daily lifestyle. In coming days definitely fiat currency will deviate with bitcoin.
you are right. maybe this time, I still believe in fiat, because I use it every day. in my city, very rarely find bitcoin users, so it is still very difficult to use bitcoin. so, fiat be the best way to conduct transactions to date.
legendary
Activity: 868
Merit: 1006
March 06, 2017, 12:18:58 PM
We are currently in a moment that will be written in historical books and many people already collect data on that. The fiat is in many countries something you can't find as  you should. ( take example of many European countries that the maximum paper you can find is the 50 euro - very hard to see anymore the 100 or the 200 and the 500 we know they stopped from the market ).

Many banks now promote the application they made to send money to each other from the application using the email of the recipient or the telephone number. What i want say with this is that they already preparing the ground for electronic transactions. I do believe in the use of fiat money up to some levels, this is a very big conversation of course.. not without control because this can lead to other problems, but for example the 85 years old grandfather NEED use fiat and general the generation after 50 years old minimum as many of them never learned how to use electronic systems for payments. The Bitcoin is the future that we already live and as the time passes will be more and more part of our everyday life, the clever house, the clever office and general all the clever appliances and systems will be hand in hand with bitcoin and block chain.  The point is that we need everyone prepare the future and understand the present.. we need have fiat for many years more, but some years after yes this question will be like joke if you believe in Fiat.... BUT when this time comes maybe we have a different question, this can be: do you believe you feel more free with Bitcoin or in the past with Fiat?

Financial freedom will not exist in the future after they get rid of physical cash, which is the only way to have financial freedom nowadays. So in the future, you have to choose: You go with bitcoin, or you go with centralized digital government money (with no physical cash, so 100% gov controlled).
It is clear what the most freedom friendly choice is at that point.
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