Topic: Do you Still believe in Fiat? - page 5. (Read 75164 times)

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?

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.

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.

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.

there's many way to fulfill your needs, as far as i know that people use what they need to use in order to fulfill their needs, it doesn't matter that they use money or gold, their main purpose is just one, to fulfill their needs

That's right fiat makes things easy and there are many places in my area where only fiat will take care of as they don't even accept credit cards so in that case only fiat will serve the purpose and even in future there will be many people who will prefer to use fiat as they don't want to complicate their spending by getting into something new.

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. 

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.

I think that the United States has a great monetary system.

Although almost half of all Americans don't have a retirement account, the system in place allows people to invest in their future and make money if they choose to do so.

After the Great Depression and 2008 we really got our shit together...

Technology plays a big factor in this world to make transactions faster and easier but I did not feel the demand of fiat has lessen and even for paper money. Apparently, people are still using paper money as it's the simplest form of fiat and they want a very easy transaction that does not need internet to transact, bitocoin relies on internet that's why it does not attract majority of adopters.

For missing certainly took a long time, but if it is definitely reduced. All countries advocated to reduce cash transactions, making fiat money looks not much circulated. Times changed, we never knew 10 years again, because the technology and information ran fast.

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.

I think that this is already too much to think about that a thief can steal a suitcase full of money. Already one such amounts is not in the store. If you go, it is only with a bank card, which is money. Almost Fiat also can be in digital form. But when there is a couple of kupyur in your pocket, it's not too bad. Different cases are in life.

But digital money is just fiat in digital form. All of the digits written on your debit card and all the money that you get from wire transfer, all of them can be converted to fiat in no time. It's just much easier to use fiat in digital form, thus, we do so. It's really risky to bring worth of 10k$ in the store since that'll require a briefcase and it'll get the attention of the thieves.

Despite the fact that we're using cash less than before and we're starting to move to a cashless society, people are still not using bitcoins because they were never introduced to it.

it's all just a matter of habit. we too often use fiat in our daily lives despite the fact the use of fiat is not good. Maybe we can use the fiat of necessity, we had no other choice but to use fiat. in antiquity, too, we are forced to barter because there is no currency. well, now we do not need to use fiat which the value is always reduced because of inflation, because now there is bitcoin.

if you think about it, fiat money is under extinction... we use "digital" money more and more. We pay for goods and food via credit / debit cards, we pay our bills via e-banking, we get paid via wire transfer, we barely get the chance to get our hands in real "physical" bills and coins.

Ofcourse, I still believe in fiat, it is used in our daily lives. Fiat is very important role in our life, without this how can we buy something to eat, buy something in our daily needs. Thus, we cannot taken it for granted because its a part in our life...

I any devaluation of the national currency is possible, and sometimes this is the case. Why us should not be focused on all currencies. We take the market leaders not only demand but. The dollar and the euro are very strong and durable. Dollar supported by not only the US but also international financial institutions.

I agree with you. No country in the world is not ready to abandon its national currency. It hence is the government will support Fiat.
I use it every day and Fiat can not do without it.

See, that's sort of the problem with fiat. Only the government owns it and they are the only one that gives value to it. When they decided to pull out fiat, all of the fiat money that's with you will become valueless. And by valueless I mean like zero value. No one will accept your fiat anymore. This rarely happens and I'm not sure if this has happened before. What you should look up to is when your fiat gets devaluated and even trillion worth of your local fiat is not worth anything anymore. That can happen.

When you're using bitcoins, you're free from that issue. Even if your local fiat gets valueless, it's alright since you can exchange your bitcoins to any other fiat currency.