Do you Still believe in Fiat? - page 54.

co5hike

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Quote from: asdalani on August 10, 2016, 12:26:16 PM

Quote from: fkvidar on August 10, 2016, 04:04:42 AM

I think the older generation who don't have any relation with internet world will continue their journey with fiat, as they hesitate even in using internet so I think using biticoin is an big deal for them.

That could be right. The younger generation who can use the smart phone will be ones to use bitcoin in the future.

I think we should teach our parents and people around us about bitcoin and people who believes in technology will surely start using it, but that doesn't mean fiat will disappear in future.

asdalani

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Quote from: fkvidar on August 10, 2016, 04:04:42 AM

I think the older generation who don't have any relation with internet world will continue their journey with fiat, as they hesitate even in using internet so I think using biticoin is an big deal for them.

That could be right. The younger generation who can use the smart phone will be ones to use bitcoin in the future.

fkvidar

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Quote from: relq on August 10, 2016, 03:36:35 AM

Quote from: goldcoinminer on August 10, 2016, 03:30:51 AM

Quote from: tygeade on August 10, 2016, 03:14:38 AM

Quote from: TGD on August 10, 2016, 02:27:10 AM

Quote from: blackmachinegun on August 10, 2016, 12:32:37 AM

Quote from: mark coins on August 09, 2016, 10:54:41 AM

Quote from: CoinFoxs on August 09, 2016, 10:27:42 AM

Yup i am still believe in Fiat, not only me so many people believe in Fiat. Now the question raise why ? The reason is so simple bitcoin is not used offline in many countries, it only use for online shopping directly. So people should believe on fiat because they use fiat in their daily life and buy things that they need in their life.

And at a moment if we have to spend bitcoins directly then we need to convert it to fiat first, so basically we can say that bitcoins is dependent on fiat.

yeah true even though we are using bitcoin and get bitcoin. but still we have to convert it to a fiat to do the spending
because for the moment inevitably we still have to depend on fiat currency because we are the major currency is fiat

Yes that's why we want bitcoin to have more use in the future so we will not depend in fiat, if we can already use it in her own value buying things or widraw your money easly without exchange it that's better and I hope it will happen soon.

I think it will take long time for that to happen, its not easy for bitcoin to get accepted everywhere at physical place and even merchants should be aware that they can accept payments in bitcoins too.

It's true, when the government will feel that bitcoin is a threat to them then they will not simple support it. Bitcoin is for freedom and we are free to transact online without personal information being divulge and the government does not want that.

If many people using bitcoin in one country, i'm sure the government will accept bitcoin and support bitcoin. and i think bitcoin is not a threat into fiat and many people still believe in fiat, even bitcoin come.

I think the older generation who don't have any relation with internet world will continue their journey with fiat, as they hesitate even in using internet so I think using biticoin is an big deal for them.

deisik

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Quote from: mindrust on August 10, 2016, 03:54:28 AM

Quote from: deisik on August 10, 2016, 03:45:32 AM

Quote from: mindrust on August 10, 2016, 03:40:56 AM

I somehow feel more powerful when i hold my dollar bills in my hand. I don't feel a shit when i see numbers on my screen no matter how big they are. Give me a bag of 1$ bills and i will feel like i own the America :d

This is evidently a delusion of being rich, lol

No no. Not just that. When i see numbers on my screen it is like, "alright i got 500k in somewhere in the bank that's nice" but i can't see my bills whenever i want to. They usually don't let you take that amount out of the bank right away but some other day.

On the other hand, if store them in my private safe, i can look at them and jerk off at any time.

To each his own...

mindrust

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Quote from: deisik on August 10, 2016, 03:45:32 AM

Quote from: mindrust on August 10, 2016, 03:40:56 AM

I somehow feel more powerful when i hold my dollar bills in my hand. I don't feel a shit when i see numbers on my screen no matter how big they are. Give me a bag of 1$ bills and i will feel like i own the America :d

This is evidently a delusion of being rich, lol

No no. Not just that. When i see numbers on my screen it is like, "alright i got 500k in somewhere in the bank that's nice" but i can't see my bills whenever i want to. They usually don't let you take that amount out of the bank right away but some other day.

On the other hand, if store them in my private safe, i can look at them and jerk off at any time.

deisik

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English ⬄ Russian Translation Services

Quote from: mindrust on August 10, 2016, 03:40:56 AM

I somehow feel more powerful when i hold my dollar bills in my hand. I don't feel a shit when i see numbers on my screen no matter how big they are. Give me a bag of 1$ bills and i will feel like i own the America :d

This is evidently a delusion of being rich, lol

mindrust

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I somehow feel more powerful when i hold my dollar bills in my hand. I don't feel a shit when i see numbers on my screen no matter how big they are. Give me a bag of 1$ bills and i will feel like i own the America :d

Fiat is not as practical as credit cards or bitcoin when you make payments but if you hide them somewhere, it is you the one who owns the money. Not btc devs, not mastercard ceo's, but you.

relq

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Quote from: goldcoinminer on August 10, 2016, 03:30:51 AM

Quote from: tygeade on August 10, 2016, 03:14:38 AM

Quote from: TGD on August 10, 2016, 02:27:10 AM

Quote from: blackmachinegun on August 10, 2016, 12:32:37 AM

Quote from: mark coins on August 09, 2016, 10:54:41 AM

Quote from: CoinFoxs on August 09, 2016, 10:27:42 AM

Yup i am still believe in Fiat, not only me so many people believe in Fiat. Now the question raise why ? The reason is so simple bitcoin is not used offline in many countries, it only use for online shopping directly. So people should believe on fiat because they use fiat in their daily life and buy things that they need in their life.

And at a moment if we have to spend bitcoins directly then we need to convert it to fiat first, so basically we can say that bitcoins is dependent on fiat.

yeah true even though we are using bitcoin and get bitcoin. but still we have to convert it to a fiat to do the spending
because for the moment inevitably we still have to depend on fiat currency because we are the major currency is fiat

Yes that's why we want bitcoin to have more use in the future so we will not depend in fiat, if we can already use it in her own value buying things or widraw your money easly without exchange it that's better and I hope it will happen soon.

I think it will take long time for that to happen, its not easy for bitcoin to get accepted everywhere at physical place and even merchants should be aware that they can accept payments in bitcoins too.

It's true, when the government will feel that bitcoin is a threat to them then they will not simple support it. Bitcoin is for freedom and we are free to transact online without personal information being divulge and the government does not want that.

If many people using bitcoin in one country, i'm sure the government will accept bitcoin and support bitcoin. and i think bitcoin is not a threat into fiat and many people still believe in fiat, even bitcoin come.

deisik

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Quote from: Daneric on August 10, 2016, 03:08:51 AM

Fiat money is backed by the fact that the government accepts it as legal payment. Because the government is willing to accept it in exchange for goods and services or tax payments, their currency gains intrinsic value.The value of a fiat currency is similarly arbitrary, but as long as the government can maintain its monetary system, that value will hold because that's the value the government is willing to honor. Because of the government is such a large part of the economy, the currency retains its value even in private exchanges as it is something that everyone can use when interacting with the government

It is not only that. Government also pays in its currency to civil servants and state employees as well as their contractors (public sector), which further spend their salaries on the goods and services produced by businesses and private enterprises (private sector). The latter pay wages to their employees and the cycle closes...

This is how a fiat currency is bootstrapped when it is first introduced

goldcoinminer

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Quote from: tygeade on August 10, 2016, 03:14:38 AM

Quote from: TGD on August 10, 2016, 02:27:10 AM

Quote from: blackmachinegun on August 10, 2016, 12:32:37 AM

Quote from: mark coins on August 09, 2016, 10:54:41 AM

Quote from: CoinFoxs on August 09, 2016, 10:27:42 AM

Yup i am still believe in Fiat, not only me so many people believe in Fiat. Now the question raise why ? The reason is so simple bitcoin is not used offline in many countries, it only use for online shopping directly. So people should believe on fiat because they use fiat in their daily life and buy things that they need in their life.

And at a moment if we have to spend bitcoins directly then we need to convert it to fiat first, so basically we can say that bitcoins is dependent on fiat.

yeah true even though we are using bitcoin and get bitcoin. but still we have to convert it to a fiat to do the spending
because for the moment inevitably we still have to depend on fiat currency because we are the major currency is fiat

Yes that's why we want bitcoin to have more use in the future so we will not depend in fiat, if we can already use it in her own value buying things or widraw your money easly without exchange it that's better and I hope it will happen soon.

I think it will take long time for that to happen, its not easy for bitcoin to get accepted everywhere at physical place and even merchants should be aware that they can accept payments in bitcoins too.

It's true, when the government will feel that bitcoin is a threat to them then they will not simple support it. Bitcoin is for freedom and we are free to transact online without personal information being divulge and the government does not want that.

resilientknight

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Just like they say, you should never trust politicians.

tygeade

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Quote from: TGD on August 10, 2016, 02:27:10 AM

Quote from: blackmachinegun on August 10, 2016, 12:32:37 AM

Quote from: mark coins on August 09, 2016, 10:54:41 AM

Quote from: CoinFoxs on August 09, 2016, 10:27:42 AM

Yup i am still believe in Fiat, not only me so many people believe in Fiat. Now the question raise why ? The reason is so simple bitcoin is not used offline in many countries, it only use for online shopping directly. So people should believe on fiat because they use fiat in their daily life and buy things that they need in their life.

And at a moment if we have to spend bitcoins directly then we need to convert it to fiat first, so basically we can say that bitcoins is dependent on fiat.

yeah true even though we are using bitcoin and get bitcoin. but still we have to convert it to a fiat to do the spending
because for the moment inevitably we still have to depend on fiat currency because we are the major currency is fiat

Yes that's why we want bitcoin to have more use in the future so we will not depend in fiat, if we can already use it in her own value buying things or widraw your money easly without exchange it that's better and I hope it will happen soon.

I think it will take long time for that to happen, its not easy for bitcoin to get accepted everywhere at physical place and even merchants should be aware that they can accept payments in bitcoins too.

Daneric

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Activity: 224

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Fiat money is backed by the fact that the government accepts it as legal payment. Because the government is willing to accept it in exchange for goods and services or tax payments, their currency gains intrinsic value.The value of a fiat currency is similarly arbitrary, but as long as the government can maintain its monetary system, that value will hold because that's the value the government is willing to honor. Because of the government is such a large part of the economy, the currency retains its value even in private exchanges as it is something that everyone can use when interacting with the government.

Noojna

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This is the thing, for either Fiat or crypto to thrive, people have to believe in it, and it has to run in a sustainable environment.

Right now Bitcoin has flaws which make it unsustainable; fiat has government control issues.

TGD

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Wen Rolex?

Quote from: blackmachinegun on August 10, 2016, 12:32:37 AM

Quote from: mark coins on August 09, 2016, 10:54:41 AM

Quote from: CoinFoxs on August 09, 2016, 10:27:42 AM

Yup i am still believe in Fiat, not only me so many people believe in Fiat. Now the question raise why ? The reason is so simple bitcoin is not used offline in many countries, it only use for online shopping directly. So people should believe on fiat because they use fiat in their daily life and buy things that they need in their life.

And at a moment if we have to spend bitcoins directly then we need to convert it to fiat first, so basically we can say that bitcoins is dependent on fiat.

yeah true even though we are using bitcoin and get bitcoin. but still we have to convert it to a fiat to do the spending
because for the moment inevitably we still have to depend on fiat currency because we are the major currency is fiat

Yes that's why we want bitcoin to have more use in the future so we will not depend in fiat, if we can already use it in her own value buying things or widraw your money easly without exchange it that's better and I hope it will happen soon.

Doms

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Fiat is, and will still remain relevant for the foreseeable future. I don't see bitcoin replacing fiat anytime soon. With all the flaws that fiat possesses, we are still very much invested in it. It would be hard to imagine a world where fiat in not in existence. Bitcoin simply won't get the job done, definitely not right now, because the world is not yet ready to accept it on a massive scale.

blackmachinegun

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Quote from: mark coins on August 09, 2016, 10:54:41 AM

Quote from: CoinFoxs on August 09, 2016, 10:27:42 AM

Yup i am still believe in Fiat, not only me so many people believe in Fiat. Now the question raise why ? The reason is so simple bitcoin is not used offline in many countries, it only use for online shopping directly. So people should believe on fiat because they use fiat in their daily life and buy things that they need in their life.

And at a moment if we have to spend bitcoins directly then we need to convert it to fiat first, so basically we can say that bitcoins is dependent on fiat.

yeah true even though we are using bitcoin and get bitcoin. but still we have to convert it to a fiat to do the spending
because for the moment inevitably we still have to depend on fiat currency because we are the major currency is fiat

Matt Guy

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Regarding fiat, inflation is a big problem, but we have no other alternative in most situations.

Soulver

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Quote from: goinmerry on August 09, 2016, 07:47:53 PM

Quote from: Doamader on August 09, 2016, 06:55:13 PM

I had saw a video complaining about the current system of fiat, that its printed to cover and to pay for wars, hidden the big problem around fiat, thats bad management, and no transparency. Bitcoin would be amazing to any country has we will see where the money is being invested, something we dont know is the numbers and costs of each transaction.

Bitcoin can also pay for war. That will just be the same as fiat. It will always depend on its user on how he will use it. If the government wants to cover up the war expenses through bitcoin they can do that also.

I agree, as i saw news lately that some countries which are running in low economy period started actually to adopt bitcoin as a cryptocurrency over fiat since the government is no longer able to pay employee's salary with fiat due to lack of economy. So that includes the army salary too.

goinmerry

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Quote from: Doamader on August 09, 2016, 06:55:13 PM

I had saw a video complaining about the current system of fiat, that its printed to cover and to pay for wars, hidden the big problem around fiat, thats bad management, and no transparency. Bitcoin would be amazing to any country has we will see where the money is being invested, something we dont know is the numbers and costs of each transaction.

Bitcoin can also pay for war. That will just be the same as fiat. It will always depend on its user on how he will use it. If the government wants to cover up the war expenses through bitcoin they can do that also.

Topic: Do you Still believe in Fiat? - page 54. (Read 75164 times)