Topic: How Fiat Will Always Be The Norm - page 3. (Read 818 times)

It creates more control for the people of their money when they own and hold the keys of their cryptocurrency but this is something hardly done by anyone.

How Fiat Will Always Be The Norm

With all the ongoing growth with cryptocurrency has created many different avenues of direction in many ways. It does create more control for the people of their money but this is only successful when someone educates themselves on this system.

This will be for sure a spiral down to something really bad in the next while. What type of solutions are there to fix this problem?

fiat looks ordinary to those who don't care about the existence of crypto. they think crypto is the same as stocks, so it doesn't interfere with fiat. especially in areas where life is still primitive, which is still lagging behind in technology and only uses fiat as a transaction tool in their country of course fiat will run normally. For those of us who already know the benefits of crypto, of course, we no longer prioritize fiat. we only use fiat to buy goods or daily bills. the rest prefer to invest in crypto.

fiat looks ordinary to those who don't care about the existence of crypto. they think crypto is the same as stocks, so it doesn't interfere with fiat. especially in areas where life is still primitive, which is still lagging behind in technology and only uses fiat as a transaction tool in their country of course fiat will run normally. For those of us who already know the benefits of crypto, of course, we no longer prioritize fiat. we only use fiat to buy goods or daily bills. the rest prefer to invest in crypto.

With all the ongoing growth with cryptocurrency has created many different avenues of direction in many ways. It does create more control for the people of their money but this is only successful when someone educates themselves on this system.

However, the majority of the population are not willing to do this and still only see FIAT as the main money system.  If they hear about Bitcoin, is only seen as a store of value or a like a stock to get more fiat.

Cryptocurrencies are not accepted legally in most parts of the world.

Even if they get accepted worldwide, it will take decades for them to reach everyone and getting used to using them is a far cry.

Moreover, not all people will be able to trust cryptocurrencies. They will always prefer fiat over it.

How Fiat Will Always Be The Norm

How Fiat Will Always Be The Norm


With all the ongoing growth with cryptocurrency has created many different avenues of direction in many ways. It does create more control for the people of their money but this is only successful when someone educates themselves on this system.

However, the majority of the population are not willing to do this and still only see FIAT as the main money system.  If they hear about Bitcoin, is only seen as a store of value or a like a stock to get more fiat.

Also the media, corporations and governments are still successful in making everyone use FIAT regardless of the inflation that is happening. Come to think on it, people do not see that fiat is the cause of inflation at all.

More and more inflation is happening with more money being printed all the time. Yet people still demand more services from the government which creates more money to be printed and more inflation.

Yet people do not see this as a problem at all, since the demand for specific services keeps increasing.

Many people just do not understand that they are encouraging inflation. All these factors play in the role that fiat is here to stay. People just don’t see the problems of fiat nor able to see the benefits of crypto.

This will be for sure a spiral down to something really bad in the next while. What type of solutions are there to fix this problem?

There is no need for fiat to be gone though, I mean I get that crypto is a currency and people think that the end game is to have bitcoin as the number one currency everywhere and all the people of the world stop using fiat and start using bitcoin as a currency. But that is an unrealistic and actually not even needed level.

What we need to really achieve instead is to have bitcoin as an alternative to fiat of the world, whatever we are using in our nation if bitcoin is the alternative to it then it’s great. If you are in the USA then use dollars mainly but bitcoin should be second, if you are in Europe then euro and then bitcoin, in UK it's pounds then bitcoin so forth so forth. That would be the ideal and achievable place.

fiat looks ordinary to those who don't care about the existence of crypto. they think crypto is the same as stocks, so it doesn't interfere with fiat. especially in areas where life is still primitive, which is still lagging behind in technology and only uses fiat as a transaction tool in their country of course fiat will run normally. For those of us who already know the benefits of crypto, of course, we no longer prioritize fiat. we only use fiat to buy goods or daily bills. the rest prefer to invest in crypto.

The use of fiat cannot be replaced nor vanished by any means of financial system not even cryptocurrency because whether we like it or not any new development on financial system or maybe another new digital finance comes up at the end of the day if it would be adopted and accepted globally it would only be part of the financial system circulating around the global economy. The way of living of every person in the world is not the same and that only means there would be some or many people left behind and vanishing fiat will worst the situation of those people struggling in life.

Even if crypto is widely accepted in the world, fiat will still be the standard by which all are measured. Not only cryptocurrencies but gold or other precious metals will be exchanged without fiat. If Fiat was indeed superseded by some other method, I think Fiat would not have existed for centuries.