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Topic: Do you Still believe in Fiat? - page 41. (Read 75164 times)

legendary
Activity: 3514
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November 23, 2016, 07:02:05 AM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.

Whaever happens, as long as the money is unchanged, and the cycle of money continues, we have no choice but to use it and believe in it. We can't say that we are not believing in fiat when in fact we are using  it and we are part of the system (government). In short whatever the government give us, we should accept it, or go and try barter, if you could find one that wants to exchange their goods to yours, or worst, die in hunger.  Cheesy

Using doesn't mean believing

How many people are earnestly believing in HYIPs or ICOs? I don't think many, but people are still pouring their hard earned money into them. How come? Just because they want to get profits even if they are fully aware of the risks associated with such "investments". I guess with fiat it is basically along the same lines. You have to use fiat to buy food and pay taxes. Ironically, you may use it to earn even more of it, but this doesn't necessarily mean that you should believe in it
legendary
Activity: 2170
Merit: 1427
November 23, 2016, 06:56:45 AM
Whaever happens, as long as the money is unchanged, and the cycle of money continues, we have no choice but to use it and believe in it. We can't say that we are not believing in fiat when in fact we are using  it and we are part of the system (government).

I use fiat money on a daily basis like all other people here do, but that doesn't mean I believe in it. Tell me, how can I believe in something that is only losing value as years go by? Impossible. That's why I don't understand how the average joe can keep saving their entire life, without investing any of it. Especially nowadays where the interest rates are nothing more than peanuts. Normal interest rates on savings accounts are lower than 0.4% per year, while your wealth is being taxed with around 1% per year. That's a straight loss that we are talking about.

In short whatever the government give us, we should accept it, or go and try barter, if you could find one that wants to exchange their goods to yours, or worst, die in hunger.  Cheesy

It's true that fiat has a very important position in our lives, but with alternatives such as Bitcoin we can now choose to have a good portion of our wealth outside a system where you are only being a slave of banks and governments, and also constantly see your wealth value decrease. That's why I am incredibly happy that I am able to make use of Bitcoin. Otherwise I would probably continue to be a slave of the system....
hero member
Activity: 826
Merit: 502
November 23, 2016, 06:29:43 AM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
of course it will be difficult for us if we do not use fiat and just rely only use bitcoin, even I think with maybe you would not be able to eat when you're just relying using bitcoin,
bitcoin will never replace fiat
How it would be difficult when you will be able to buy your food for bitcoins.

This is going to happen regardless of in which part of this world you will be living, I mean to say bitcoin is going to be mainstream of payments system around the world.

Everything will be available for bitcoin payments. Do you think still need fiats when you are able to buy everything with the bitcoins?
I think only bitcoin users would benefit from that. Non-bitcoin users AKA people that cannot embrace change for their own reasons would still be using fiat. Even us, bitcoin users, would be needing fiat to have transactions with non-bitcoin users. So yes, we would still need fiat even when we can buy everything using bitcoins because there would still people that would pay you in fiat instead of bitcoins.

Bitcoin being implemented all around the world might be something that you can look up to but not something that you can surely notice by yourself. It would take decades for that to happen and you might already be dead at that time.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
November 23, 2016, 04:35:26 AM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
of course it will be difficult for us if we do not use fiat and just rely only use bitcoin, even I think with maybe you would not be able to eat when you're just relying using bitcoin,
bitcoin will never replace fiat
How it would be difficult when you will be able to buy your food for bitcoins.

This is going to happen regardless of in which part of this world you will be living, I mean to say bitcoin is going to be mainstream of payments system around the world.

Everything will be available for bitcoin payments. Do you think still need fiats when you are able to buy everything with the bitcoins?

if this is really happen then many people will not believe in fiat again and they will moving from fiat into bitcoin and they will use bitcoin as their payment and buying something with bitcoins. maybe in this situation, the fiat will be an antique collection and it will have a high price for collected because fiat has its own history in many people from all country.
sr. member
Activity: 285
Merit: 250
November 23, 2016, 02:23:56 AM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
of course it will be difficult for us if we do not use fiat and just rely only use bitcoin, even I think with maybe you would not be able to eat when you're just relying using bitcoin,
bitcoin will never replace fiat

Yes, Bitcoin has taken its place. It will not displace Fiat. It will always be an alternative currency
hero member
Activity: 1148
Merit: 528
November 23, 2016, 01:57:01 AM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
of course it will be difficult for us if we do not use fiat and just rely only use bitcoin, even I think with maybe you would not be able to eat when you're just relying using bitcoin,
bitcoin will never replace fiat
How it would be difficult when you will be able to buy your food for bitcoins.

This is going to happen regardless of in which part of this world you will be living, I mean to say bitcoin is going to be mainstream of payments system around the world.

Everything will be available for bitcoin payments. Do you think still need fiats when you are able to buy everything with the bitcoins?
hero member
Activity: 3136
Merit: 591
Leading Crypto Sports Betting & Casino Platform
November 22, 2016, 11:12:42 PM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
of course it will be difficult for us if we do not use fiat and just rely only use bitcoin, even I think with maybe you would not be able to eat when you're just relying using bitcoin,
bitcoin will never replace fiat

In our modern days, fiat are still needed and even though we know how to use bitcoin and we know what is the true worth of bitcoin. Still there are people who still needs to know more about it, because they are the ones that will have hard time in adopting bitcoins and for sure instead of completely shifting into bitcoins, they will just simply use fiat. That's why majority of the people still refers to fiat and so do I.
hero member
Activity: 504
Merit: 500
November 22, 2016, 11:09:56 PM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
of course it will be difficult for us if we do not use fiat and just rely only use bitcoin, even I think with maybe you would not be able to eat when you're just relying using bitcoin,
bitcoin will never replace fiat
hero member
Activity: 798
Merit: 500
★YoBit.Net★ 350+ Coins Exchange & Dice
November 22, 2016, 10:59:06 PM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.

Whaever happens, as long as the money is unchanged, and the cycle of money continues, we have no choice but to use it and believe in it. We can't say that we are not believing in fiat when in fact we are using  it and we are part of the system (government). In short whatever the government give us, we should accept it, or go and try barter, if you could find one that wants to exchange their goods to yours, or worst, die in hunger.  Cheesy
hero member
Activity: 714
Merit: 500
November 22, 2016, 10:17:21 PM
As flawed as our current system is, the dependency of most everyone on fiat cannot be denied. It's hard to imagine living a day without using fiat for our daily transactions. Bitcoin, or any other crypto currency for that matter, cannot simply replace it right now. If another financial crisis happens, let us see what bitcoin's role will be and how it is going to affect its price.
hero member
Activity: 672
Merit: 500
November 22, 2016, 09:55:32 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

Use fiat is obviously make us suffer financial lost. More longer we hold it the value will more decrease. Its better if we use money that the value is never decrease like bitcoin or gold or silver. There is a prediction that all people of the world will leave paper money becouse it is worthless, it doesnt have intrinsict value, its just a paper. Governvent is give it the vaue. If Governvent  loss the power I think paper money will loss the value too.
hero member
Activity: 3150
Merit: 636
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November 20, 2016, 11:29:53 AM
Crypto will definitely replace fiat 20 -30 years from now. I am not saying this because I want to make profit, I've been observing the trends.

It is for sure that monetary system in future will be replaced by the digital system as we can see these days technology is getting developed every year so that is for sure, we it is not assured that bitcoin will be that digital system, it can be any other system generated by the government, or maybe bitcoin, but it is unpredictable.

That is very possible to happen and as the technology is getting faster each day. New inventions are always being built everyday.

The demand of people for transactions will become higher and we will expect more for the innovation of it and it can be cashless society.

Only the implementation will be needed for it and that is not yet happening so I will still believe in fiat for it is legit, accepted and most preferred by the people.
hero member
Activity: 714
Merit: 531
November 20, 2016, 08:33:57 AM
Crypto will definitely replace fiat 20 -30 years from now. I am not saying this because I want to make profit, I've been observing the trends.

very imposible is crypto coin can replace real money fiat money(USD)
fiat money is accepted in the wold , crypcto coin only accepted in online system, cryptco coin only digital curency not real curency
very dificult crypto coin to use real life without exchange to fiat money
We all have freedom to predict we do not know what will happen in the future but one thing i know that fiat will exist even bitcoin would be more popular because bitcoin is decentralized currency which is only used in online transaction
hero member
Activity: 644
Merit: 500
November 20, 2016, 08:07:33 AM
Crypto will definitely replace fiat 20 -30 years from now. I am not saying this because I want to make profit, I've been observing the trends.

very imposible is crypto coin can replace real money fiat money(USD)
fiat money is accepted in the wold , crypcto coin only accepted in online system, cryptco coin only digital curency not real curency
very dificult crypto coin to use real life without exchange to fiat money
hero member
Activity: 756
Merit: 500
November 20, 2016, 05:20:31 AM
Crypto will definitely replace fiat 20 -30 years from now. I am not saying this because I want to make profit, I've been observing the trends.

It is for sure that monetary system in future will be replaced by the digital system as we can see these days technology is getting developed every year so that is for sure, we it is not assured that bitcoin will be that digital system, it can be any other system generated by the government, or maybe bitcoin, but it is unpredictable.
member
Activity: 168
Merit: 11
Back from the Dead!
November 20, 2016, 05:08:12 AM
In India, Fiat is getting much much more unpredictable compared to bitcoins. So, I think bitcoins would be a smart choice, but the problem is that none of the places here in India accept bitcoin, so I really have to go with Fiat. But, actually, to answer the question by OP, no, I dont trust fiat much anymore cause fiat is getting faked more and more faster. I think bitcoin is much more secure with all those protocols and 2FA.

The condition is very poor in India as far as bitcoin is concerned. We are living on fiat literally since ages. Maximum people here are below poverty line and not much of the entire cross-section of people do know about internet let alone bitcoin. I have heard some states accepting bitcoin along with some e-commerce sites and online stores. But does not help since we need to buy our daily necessities with bitcoin which is far from the reality.

Yes, I think a state or two have started, but it isnt close to real monetization with bitcoin yet. That would take a long time to educate all the Indians about something such as a decentralized crypt-currency like bitcoin. Now the situation in India is pretty volatile, all these banning of Fiat notes and all, and already fakes for the new fiat note have come up.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
November 20, 2016, 04:53:28 AM
In India, Fiat is getting much much more unpredictable compared to bitcoins. So, I think bitcoins would be a smart choice, but the problem is that none of the places here in India accept bitcoin, so I really have to go with Fiat. But, actually, to answer the question by OP, no, I dont trust fiat much anymore cause fiat is getting faked more and more faster. I think bitcoin is much more secure with all those protocols and 2FA.

The condition is very poor in India as far as bitcoin is concerned. We are living on fiat literally since ages. Maximum people here are below poverty line and not much of the entire cross-section of people do know about internet let alone bitcoin. I have heard some states accepting bitcoin along with some e-commerce sites and online stores. But does not help since we need to buy our daily necessities with bitcoin which is far from the reality.
member
Activity: 168
Merit: 11
Back from the Dead!
November 20, 2016, 04:19:31 AM
In India, Fiat is getting much much more unpredictable compared to bitcoins. So, I think bitcoins would be a smart choice, but the problem is that none of the places here in India accept bitcoin, so I really have to go with Fiat. But, actually, to answer the question by OP, no, I dont trust fiat much anymore cause fiat is getting faked more and more faster. I think bitcoin is much more secure with all those protocols and 2FA.
legendary
Activity: 2968
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November 20, 2016, 04:15:04 AM
As a matter of ideal, I doubt very many people "believe" in fiat but as a matter of practical principle we all need money to survive. Hell we even need fiat to get involved in crypto.

So like it or not, believer or unbeliever, we all hold on to fiat because it lets us live.

Besides, how many of us would truly choose to abandon fiat and descend into financial anarchy as a revolution before establishing whatever new order we think is fit?

Only the desperate would and we are too far removed from desperation as we are discussing this on forum haha.
sr. member
Activity: 323
Merit: 250
November 20, 2016, 03:56:16 AM
For developed countries not many people believe, but it is not the poor countries ... fiat will always be alive because poor countries who are not accustomed to using digital money for payment.
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