Fiat Money Losing Worth, Bitcoin and Gold Getting Important - page 3.

Ucy

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Quote from: boltz on October 13, 2019, 10:35:34 AM

Still to early to speak about FIAT vs CRYPTOCURRENCIES but one thing is for sure, cryptos are getting more and more attention and fiat is not necessary loosing value and most likely the inflation is too big and it started to feel in every domain. Gold is fine, it will always be fine so I wouldn't worry a bit about gold as its place in economy cannot be damaged no matter what.

About recession , the global charts indicate we are at the start on a new one ...so we'll have to wait and see what will happen...

If a serious global collapse happens, things like gold, silver will likely lose value unless their prices are artificially controlled.
Imagine a global collapse in a very isolated area , go to that area and trying giving them some metals like gold or silver. If they like the gold/silver, they could price it way below the real international price. This things are not what they need in such situation. Guess what they will value and price very high? Things they desperately need to relieve themselves from their condition.

Gold will only do well if the collapse is isolated and if the community where a collapse happens have zero access to to the rest of the world.

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Quote from: Bustart on October 18, 2019, 07:04:16 AM

Quote from: iMark on October 18, 2019, 04:45:36 AM

Quote from: hello_good_sir on October 17, 2019, 10:56:17 PM

I wouldn't say it's 'losing value'. Inflation is a very normal thing to happen and just because it's occuring doesn't necessarily mean our dollar is worthless.

For example, some countries have the lowest inflation rates occuring right now and just because there are more bills in the economy, doesn't mean the economy is worth less or more.

I reckon we'll see cash being obsolete in a couple years and fiat and mobile payments quickly replace everything for several years.

I think OP is using the wrong words, not losing value or losing worth, because that is also experienced by every commodity or currency. Fiat losing of usage will be far more real. I myself the most anti person to save fiat for the long term, we know how prices of "goods" will getting more expensive in the future while fiat rates will always go down. while gold has a much more stable rate, and is safer as a long-term deposit, Also for bitcoin are getting more popular, in my opinion fiat will lose its usage over time.

Let's respect what the op said, it was just an opinion and that should be considered. Though bitcoin has more potentials to reach the best price, it doesn't mean we will neglect fiat currency's usability. Bitcoin indeed got so popular to people who has the mindset of cryptocurrency, but for those who don't have it I think it was tok hard and unbelievable for fiat to become obsolete.

What he said was true as the OP has used wrong word which does not makes any sense as gold and fiat will never lose it's value yes there are regions or a set of people who used to invest in gold in the past might have turned towards the crypto but that does not mean that the fiat or gold has lost it's value in front of crypto currency.

abhiseshakana

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Quote from: jamesndungu1 on October 17, 2019, 07:48:00 PM

The world is slowly becoming cashless, with a majority of the people out there paying for basic services or goods without fiat currency. Cash is becoming a thing of the past with people opting for the much easier option of electronic payment methods, which are much more faster and convenient. However, cash may not become obsolete because of some significant reasons, such as the fact that cash is still the primary medium of exchange among the financially disadvantaged as well as it being the best solution to identity theft. We cannot also ignore the fact that cash offers more privacy than electronic payment methods.

If banks provide digital banking methods, I think everyone will feel happy and safe. Until now, banks provide guarantees for customer refunds in the event of a loss caused by a bank SOP.

The fate of fiat money will end if money is not guaranteed or backed up with valuable commodities such as gold or silver. If printing money is only based on government law, the risk of inflation and the legitimacy of fiat money becomes unstable. If the political and economic stability of a country is disrupted it will affect the level of confidence in its currency as well. In addition, the cost of producing paper currency is especially cheap and the raw materials do not represent the face value of the printed currency.

Making money without converting gold is suicide. because sooner or later the economy will crumble, because the printing of money that will never stop triggering inflation, inflation will make the value of the currency plummet.

Bustart

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Quote from: iMark on October 18, 2019, 04:45:36 AM

Quote from: hello_good_sir on October 17, 2019, 10:56:17 PM

I wouldn't say it's 'losing value'. Inflation is a very normal thing to happen and just because it's occuring doesn't necessarily mean our dollar is worthless.

For example, some countries have the lowest inflation rates occuring right now and just because there are more bills in the economy, doesn't mean the economy is worth less or more.

I reckon we'll see cash being obsolete in a couple years and fiat and mobile payments quickly replace everything for several years.

I think OP is using the wrong words, not losing value or losing worth, because that is also experienced by every commodity or currency. Fiat losing of usage will be far more real. I myself the most anti person to save fiat for the long term, we know how prices of "goods" will getting more expensive in the future while fiat rates will always go down. while gold has a much more stable rate, and is safer as a long-term deposit, Also for bitcoin are getting more popular, in my opinion fiat will lose its usage over time.

Let's respect what the op said, it was just an opinion and that should be considered. Though bitcoin has more potentials to reach the best price, it doesn't mean we will neglect fiat currency's usability. Bitcoin indeed got so popular to people who has the mindset of cryptocurrency, but for those who don't have it I think it was tok hard and unbelievable for fiat to become obsolete.

iMark

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Quote from: hello_good_sir on October 17, 2019, 10:56:17 PM

I wouldn't say it's 'losing value'. Inflation is a very normal thing to happen and just because it's occuring doesn't necessarily mean our dollar is worthless.

For example, some countries have the lowest inflation rates occuring right now and just because there are more bills in the economy, doesn't mean the economy is worth less or more.

I reckon we'll see cash being obsolete in a couple years and fiat and mobile payments quickly replace everything for several years.

I think OP is using the wrong words, not losing value or losing worth, because that is also experienced by every commodity or currency. Fiat losing of usage will be far more real. I myself the most anti person to save fiat for the long term, we know how prices of "goods" will getting more expensive in the future while fiat rates will always go down. while gold has a much more stable rate, and is safer as a long-term deposit, Also for bitcoin are getting more popular, in my opinion fiat will lose its usage over time.

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The world market is suffering big crash, which means there is not much of spending ability with the common people. The circulation is getting slowed down causing accumulation. This is where the inflation happens, for this some countries have taken initiative to supply money to the low bottom through different schemes to enrich the circulation.

Apart from this countries have stopped printing of the high denomination currencies to limit the accumulation done. Through these process the fiat money inflation gets controlled to a very small margin. This is why the people's eye were towards gold, bitcoin and other valuables that is valued high and has the increased probability for growth through its limited supply.

hello_good_sir

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I wouldn't say it's 'losing value'. Inflation is a very normal thing to happen and just because it's occuring doesn't necessarily mean our dollar is worthless.

For example, some countries have the lowest inflation rates occuring right now and just because there are more bills in the economy, doesn't mean the economy is worth less or more.

I reckon we'll see cash being obsolete in a couple years and fiat and mobile payments quickly replace everything for several years.

jamesndungu1

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The world is slowly becoming cashless, with a majority of the people out there paying for basic services or goods without fiat currency. Cash is becoming a thing of the past with people opting for the much easier option of electronic payment methods, which are much more faster and convenient. However, cash may not become obsolete because of some significant reasons, such as the fact that cash is still the primary medium of exchange among the financially disadvantaged as well as it being the best solution to identity theft. We cannot also ignore the fact that cash offers more privacy than electronic payment methods.

Karmakid

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Quote from: Mumbeeptind1963 on October 16, 2019, 10:03:44 PM

Quote from: Genemind on October 16, 2019, 11:40:06 AM

As for me, fiat isn't losing its value despite the increase of people who are using digital currency. Cryptocurrency still has to go through before it surpasses fiat. In our country, people who are using our local wallet still convert their crypto into fiat to spend it with their necessities so I guess we're still far from replacing fiat. Both bitcoin and gold still rely on fiat at some point.

Bitcoin and gold are both and investment in which grows year by year. But as for fiat is still be there, we exchange gold and bitcoin into cash, we are not yet using bitcoin directly to purchase ang thing that we want but also there are some stores who accepts it but they are few. Maybe in fiat it decreases its value but it is not losing it worth.

Bitcoin is not like the fiat currencies so I don't think that we will use bitcoin more often to purchase anything that we want in the stores. Just like you said, it is just an investment and the investments are meant to be hold and kept long term because they are just a way for us to stored our money and keep them intact against the inflation rate.

ReiMomo

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Absolutely! Since bitcoin and gold prices are now so big and being valuable in the market. I think that's the reason why it is now more popular all over the world and fiat currency are starting to lost it's worth due to bitcoin and gold and I think in a long run bitcoin and gold might replace fiat and become the most in-demand on the market soon.

But I guess it will take a longer time that will happen. As of now, not all countries that have an internet that can use bitcoin. Let's just accept what we are now and let the time will tell what will happen in the future.

JRoa

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The bankers are printing money and that's why there ate inflation that is happening where the fiat money are losing its value. The bitcoin and gold has limited supply and both of bitcoin and gold are experiencing deflation where their value are increasingly over time.

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Quote from: senne on October 13, 2019, 09:32:47 AM

If you see, we might be heading towards a global recession. Trade war has lead to economic slow down in many countries. If that's the case people are likely to shift towards a safe investment asset which won't be much affected by the slowdown in economy. Gold has always been a safest option in such situations.

Due to sudden changes bitcoin and cryptocurrencies hasn't yet been a sufficient a so-called safe investment like gold. Nevertheless, cryptocurrency got to be an option for an abrupt growth of investment. Lowkey investor are all looking for an opportunity of bull-run before investing.

Besides fiat money is the place for commoner's investment although it has small interest but it has a minimum balance requirement for everyone to get the interest. Slowly, if bitcoin or the whole cryptocurrency market got intact it would definitely be for everyone's investment.

Mumbeeptind1963

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Quote from: Genemind on October 16, 2019, 11:40:06 AM

As for me, fiat isn't losing its value despite the increase of people who are using digital currency. Cryptocurrency still has to go through before it surpasses fiat. In our country, people who are using our local wallet still convert their crypto into fiat to spend it with their necessities so I guess we're still far from replacing fiat. Both bitcoin and gold still rely on fiat at some point.

Bitcoin and gold are both and investment in which grows year by year. But as for fiat is still be there, we exchange gold and bitcoin into cash, we are not yet using bitcoin directly to purchase ang thing that we want but also there are some stores who accepts it but they are few. Maybe in fiat it decreases its value but it is not losing it worth.

Theb

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I have a strong feeling that the Bitcoin and Gold part is only added by the author of the article itself and it's not one of the main points being talked about Gruebel. If you look at the news it's all about the low interests rates and inflation and there are no particulars about any kind of solution whatsoever. So this just means that this is another one of those crypto news article sites trying to create a story of their own and fail to deliver any kind of connection, the point being that the article itself only added "Bitcoin and Gold" as the last sentence of the article without really adding any kind of reason why it will be a solution for any kind of problem in the economy.

desticy

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Fiat money secured by gold, as a rule. Gold is one of the oldest assets on the planet; it has its own physical referent.
In fact, when we exchange Fiat for anything, we exchange gold. Bitcoin does not have a physical referent in the real world.
Its value is determined by people's belief that Bitcoin can be exchanged for goods and services, including fiat or gold.
But if this faith disappears, there is a risk that the price of bitcoin will sink very sharply.

Apaxy

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Quote from: mersal on October 16, 2019, 12:26:48 PM

Quote from: Genemind on October 16, 2019, 11:40:06 AM

As for me, fiat isn't losing its value despite the increase of people who are using digital currency. Cryptocurrency still has to go through before it surpasses fiat. In our country, people who are using our local wallet still convert their crypto into fiat to spend it with their necessities so I guess we're still far from replacing fiat. Both bitcoin and gold still rely on fiat at some point.

Fiat is losing its purchase value,the things we bought with one dollar few years back need 5 dollars for the same things but its unlike in cryptos the value just keep increasing and the gold is just maintaining its value for very long time.

The fact is that today mankind is not yet ready to get rid of fiat currencies. I believe that a rather long time will pass before the world will massively use cryptocurrency as a means of payment. But I would not talk about the purchasing power of fiat funds, since the same situation with cryptocurrency. If at the end of 2017 for one Bitcoin I could afford to buy a car, at the end of 2018 for the same Bitcoin I could only carry out maintenance of the same car.

mersal

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Quote from: Genemind on October 16, 2019, 11:40:06 AM

As for me, fiat isn't losing its value despite the increase of people who are using digital currency. Cryptocurrency still has to go through before it surpasses fiat. In our country, people who are using our local wallet still convert their crypto into fiat to spend it with their necessities so I guess we're still far from replacing fiat. Both bitcoin and gold still rely on fiat at some point.

Fiat is losing its purchase value,the things we bought with one dollar few years back need 5 dollars for the same things but its unlike in cryptos the value just keep increasing and the gold is just maintaining its value for very long time.

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Quote from: meliodas on October 16, 2019, 08:35:43 AM

Quote from: GreenStox on October 16, 2019, 07:52:58 AM

At the moment fiat currency has decreased, it is likely that many people have started using digital cryptocurrency to make payments simpler and faster. Hopefully there is no economic crisis due to the weakening of Fiat.

The fiat money are decreasing its value not because there is a lot of people that using digital cryptocurrency to make payments. The fiat currency is decreasing its value because of the inflation and it is unstoppable. The best thing that can do to deal with the inflation is to invest into something that is higher than the inflation rate so we can maintain the value of our money.

Inflation is something that is unstoppable so we can do nothing about it but to divert and focus our mind into something that will be more profitable like investing into gold or bitcoin. While fiat currency may lessen its worth value because of the continuous inflation that particularly affects our goods and services, but gold and bitcoin will continue to be more expensive and with higher appraisal in the following years to come which will create more attachment between people and bitcoin.

Genemind

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As for me, fiat isn't losing its value despite the increase of people who are using digital currency. Cryptocurrency still has to go through before it surpasses fiat. In our country, people who are using our local wallet still convert their crypto into fiat to spend it with their necessities so I guess we're still far from replacing fiat. Both bitcoin and gold still rely on fiat at some point.

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Quote from: elda34b on October 16, 2019, 06:59:49 AM

Quote from: yulionoo on October 16, 2019, 12:37:41 AM

the fall of the stock market will make investors look for alternative investments, namely gold and bitcoin. bitcoin and gold are good choices for investing because they are good storage devices. I am optimistic that the price of gold and bitcoin in the future will be even higher.

IIRC there is a study that said most people still believe that Bitcoin is a speculative asset. This means, if economics crumbles, then they won't store their wealth in Bitcoin. Gold is still the choice for a store of value, and the next one is land.

This might change with time but I don't think it can change that easily.

It's because it's so volatile. People want to put their money into something that will hold it's value, and all those who bought near the $20,000 top got very badly burned.

Topic: Fiat Money Losing Worth, Bitcoin and Gold Getting Important - page 3. (Read 2490 times)