I think most people still trust the USD more than Bitcoin - page 3.

Sithara007

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Quote from: Refrumatrix on December 15, 2021, 03:47:19 AM

Not everyone trust USD over bitcoin, I'm from Africa and I prefer crypto over my country FIAT currency because while keeping money in the bank the value always goes down and I don't like that, I prefer keeping my money in bitcoin or Ethereum instead

OP says "most" and I think that he's right about it. Those who prefer crypto over the US Dollar are mostly in their 20s and 30s. In my country, I haven't found much support among the older generation for cryptocurrency. And worse still, a lot of people in these age groups associate cryptocurrency with criminal activity such as contraband trading and ransomware. The hostile stance from the government is not making things any easier either. I don't think that the situation is any better in Africa.

Fatunad

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Quote from: ?? on ??

Those people who doesn't know this technology will surely prefer USD. United States is really the golden standard for countries which is why USD is much renowned. I believe when adoption is fully developed, BTC could replace it and even global acceptance would succeed.

Even people do knows about crypto they would still end on trusting fiat in the end of the day except into those people who are really seeing the beauty of crypto
in terms of decentralization and new payment system. Doesnt matter on which one we do trust up.It is just on how to see on which one
would really giving out that benefits into you doesnt matter whether as a whole or as an individual.

V-t.Ester

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People live and use dollars everyday in shops because dollar is a national currency in many countries. That is why it seems they trust the USD more. However a lot of them invest in BTC, hodl and secretly expect that once BTC will reach 1 million USD (or something) and then they’ll become very rich and happy. To put it simply, they just don’t want to spend their BTC as it can jump “to the moon” every moment.

Refrumatrix

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Not everyone trust USD over bitcoin, I'm from Africa and I prefer crypto over my country FIAT currency because while keeping money in the bank the value always goes down and I don't like that, I prefer keeping my money in bitcoin or Ethereum instead

molsewid

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Quote from: dunfida on December 14, 2021, 04:42:18 PM

We are actually heading there and lets not rush up because things wont supposed to work and to be that way on what we do have in mind and also

we've been trusting fiat ever since we do gain awareness of this world or on the time we are already earning it and we do have
that primary motive on earning fiat as much as we can.

Even dealing with crypto would still really have that main aim in mind.

I agree with it that we are heading there, we are heading into a time where people will going to trust bitcoin or cryptocurrency. So far even a small step at a time we now hear some news that a certain country legalize the use of bitcoin like El Salvador, somehow there are some countries that don't ban cryptocurrency, and people can still continue to use it, earn from it but they still needed to transfer or sell it in P2P to get a fiat value. It is undeniable that most people trust fiat because we've been dealing with fiat for so long, some other people can't ride on the trend while the government didn't implement it that's why legal adoption of crypto in each country would be a breakthrough for crypto platform once happen. On top of it, we don't need to rush things like this to happen because I believe that time will come most people will finally trust bitcoin as we did.

Connor Britton

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This is normal. After all, the US dollar has controlled the world for too long, and perhaps it has become a habit. So, the habit is terrible, and now Bitcoin is gradually being known to everyone, this habit is gradually being broken.

dunfida

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Quote from: bitzizzix on December 12, 2021, 10:05:56 PM

Quote from: xSkylarx on December 12, 2021, 09:46:55 PM

Quote from: Tumanggor on December 12, 2021, 05:42:32 PM

bitcoin is still too early to be trusted by many people, just look at how people around us still depend on fiat and dollars to transact

maybe in the next few years when the adoption of crypto is visible, the people's trust in fiat and the dollar will disappear instantly

Agree to this same as my self since USD is really established few centuries back and that is really the main currency . I think nothing wrong with it. Bitcoin is just an innovation, while others making it as an investment which the main purpose of bitcoin when it was created is mainly as a payment method with less fees. Now people in USD they really think USD is a payment method while others is making trading out of it to make money.

It is still a very long process to get everyone to believe in bitcoin although I don't think it will eliminate USD or fiat completely, they have been around for a long time compared to bitcoin which is over 10 years old.
and the growth of bitcoin continues to increase and its users are always increasing and all of that is a process because gradually they realize the usefulness of bitcoin is very good and will also benefit them, because bitcoin grows and stands alone and only those who are aware and interested in getting involved.

We are actually heading there and lets not rush up because things wont supposed to work and to be that way on what we do have in mind and also

we've been trusting fiat ever since we do gain awareness of this world or on the time we are already earning it and we do have
that primary motive on earning fiat as much as we can.

Even dealing with crypto would still really have that main aim in mind.

DrBeer

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Quote from: nullama on December 08, 2021, 08:11:19 PM

Every time there's a problem with the debt-ceiling in the US since 2011 there has been talks about the possibility of minting a one trillion-dollar platinum coin out of thin air.

Although the current US Treasury Secretary is opposed to this idea, there are people out there that are pushing to make this happen.

On the other hand, most people think that Bitcoin reaching one million dollars is ludicrous.

Combining these two ideas, I get the impression that most people still believe more in the USD than Bitcoin.

Although things might change in the future when Bitcoin reaches $100k at some point. That will probably be an important mental milestone for the average person.

In fact, the trillion dollar coin idea is quite realistic, and most importantly, it could be the solution! For the United States, domestic debt is a "sacred cow" that, on the one hand, can be manipulated, and on the other, its solution is so simple that it is hard to believe it. And the most interesting thing is that there will be no consequences for the economy! The printed matter of the Federal Reserve System is sold around the world in huge volumes and everyone is happy to receive it again and again

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Quote from: michellee on December 12, 2021, 05:56:50 AM

It is because they can see USD form than bitcoin form and they already used USD a long time ago. They still prefer USD to bitcoin in their daily because besides that, they get an easiness using USD because USD is accepted in all countries while they can not use bitcoin in all countries.

But some people realize that bitcoin can be used for transactions and also as an investment so they prefer to use both USD for their daily life and bitcoin for their investment. Those people will have a chance to change their life because they can prepare their life for the future.

In simple terms it is like that, USD is still one of the benchmarks for most people because as you said, USD is one of the global currencies that can be used anywhere and anytime, so they always rely on it.
In contrast to bitcoin, which is only in the scope of crypto, as well as several countries that have adopted and legalized payments via bitcoin.
but zones like this if possible should be left as soon as possible if you really want to be in crypto. because indirectly if you still rely on USD you will only panic when the btc correction occurs like it is now

Kimonoe

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Quote from: bitzizzix on December 12, 2021, 10:05:56 PM

Quote from: xSkylarx on December 12, 2021, 09:46:55 PM

Quote from: Tumanggor on December 12, 2021, 05:42:32 PM

bitcoin is still too early to be trusted by many people, just look at how people around us still depend on fiat and dollars to transact

maybe in the next few years when the adoption of crypto is visible, the people's trust in fiat and the dollar will disappear instantly

Agree to this same as my self since USD is really established few centuries back and that is really the main currency . I think nothing wrong with it. Bitcoin is just an innovation, while others making it as an investment which the main purpose of bitcoin when it was created is mainly as a payment method with less fees. Now people in USD they really think USD is a payment method while others is making trading out of it to make money.

It is still a very long process to get everyone to believe in bitcoin although I don't think it will eliminate USD or fiat completely, they have been around for a long time compared to bitcoin which is over 10 years old.
and the growth of bitcoin continues to increase and its users are always increasing and all of that is a process because gradually they realize the usefulness of bitcoin is very good and will also benefit them, because bitcoin grows and stands alone and only those who are aware and interested in getting involved.

bitcoin users in the world today are only a small part of the existing population, while usd has been recognized worldwide as the world's standard currency, therefore it is not surprising that more people trust usd than bitcoin, especially today there are still many countries that have not legalized bitcoin, and this became a limiting factor in its development

laredo7mm

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People trust USD more because they saw and listen more often than bitcoin. There is a massive ad running for promoting fiat. Also, the most powerful country is behind all this and nobody can not deny their dominance over the world economy.

Very few people know what bitcoin is and how it works. That is the reason we saw correction when we saw fud about bitcoin. People used to believe what they saw in the newspaper. They don't use their time to do some actual research to find out the truth.

Also, USD is acceptable everywhere but BTC is still not very common to trade in the open market. Though the situation is changing slowly.

Victorik

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True, and you wouldn't blame them for that. It takes someone with a lion heart to trust Bitcoin more than the USD considering the volatility of Bitcoin. However, Bitcoin is for the future.

bitzizzix

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Quote from: xSkylarx on December 12, 2021, 09:46:55 PM

Quote from: Tumanggor on December 12, 2021, 05:42:32 PM

bitcoin is still too early to be trusted by many people, just look at how people around us still depend on fiat and dollars to transact

maybe in the next few years when the adoption of crypto is visible, the people's trust in fiat and the dollar will disappear instantly

Agree to this same as my self since USD is really established few centuries back and that is really the main currency . I think nothing wrong with it. Bitcoin is just an innovation, while others making it as an investment which the main purpose of bitcoin when it was created is mainly as a payment method with less fees. Now people in USD they really think USD is a payment method while others is making trading out of it to make money.

It is still a very long process to get everyone to believe in bitcoin although I don't think it will eliminate USD or fiat completely, they have been around for a long time compared to bitcoin which is over 10 years old.
and the growth of bitcoin continues to increase and its users are always increasing and all of that is a process because gradually they realize the usefulness of bitcoin is very good and will also benefit them, because bitcoin grows and stands alone and only those who are aware and interested in getting involved.

xSkylarx

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Quote from: Tumanggor on December 12, 2021, 05:42:32 PM

bitcoin is still too early to be trusted by many people, just look at how people around us still depend on fiat and dollars to transact

maybe in the next few years when the adoption of crypto is visible, the people's trust in fiat and the dollar will disappear instantly

Agree to this same as my self since USD is really established few centuries back and that is really the main currency . I think nothing wrong with it. Bitcoin is just an innovation, while others making it as an investment which the main purpose of bitcoin when it was created is mainly as a payment method with less fees. Now people in USD they really think USD is a payment method while others is making trading out of it to make money.

nullama

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Quote from: dezoel on December 12, 2021, 04:35:35 PM

What USD provides that Bitcoin doesn't is the security. Surely we know that there are scams going on in fiat world as well and there has been for many many decades before bitcoin was even a thing, but at least you have the government and laws and law officers and lawyers all on your side at the same time when you get scammed in fiat world, doesn't mean you will definitely see your money back, but at least there is a chance. On the other hand we have bitcoin where once your money is gone then it is gone.

I remember the day my friend lost 3k dollars of his own money in a scam, the idiot gave it away to someone else trusting that person and that person blocked him right away. Obviously my friend is an idiot for doing something like that, even a child wouldn't do that, so I can't be mad at the scammer for scamming someone so gullible to fall for something so easy, but in the end my friend had no options available. If that was in fiat, at least he would sue that person and even if he doesn't get his money back, he would be able to move that person over to the criminal justice system.

Stolen Bitcoin is basically similar to stolen cash.

Police does recover it in a similar way:

UK Police Recover $22M in Stolen Crypto From Scammers

Police in China Recover $460,000 in Stolen Bitcoin

Stolen bitcoin is hard to get back, but the FBI says it just did it

Tumanggor

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1xBit.. recovered their reputation

bitcoin is still too early to be trusted by many people, just look at how people around us still depend on fiat and dollars to transact

maybe in the next few years when the adoption of crypto is visible, the people's trust in fiat and the dollar will disappear instantly

TheNineClub

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Well, consider that most of the people do not invest into bitcoin, notbdo they subscribe to the idea of crypto. So this is a matter of educating the gen pop about what BTC really is. Then, and only then will we have a change of oppinion regarding trust. But that's a slow process.

dezoel

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What USD provides that Bitcoin doesn't is the security. Surely we know that there are scams going on in fiat world as well and there has been for many many decades before bitcoin was even a thing, but at least you have the government and laws and law officers and lawyers all on your side at the same time when you get scammed in fiat world, doesn't mean you will definitely see your money back, but at least there is a chance. On the other hand we have bitcoin where once your money is gone then it is gone.

I remember the day my friend lost 3k dollars of his own money in a scam, the idiot gave it away to someone else trusting that person and that person blocked him right away. Obviously my friend is an idiot for doing something like that, even a child wouldn't do that, so I can't be mad at the scammer for scamming someone so gullible to fall for something so easy, but in the end my friend had no options available. If that was in fiat, at least he would sue that person and even if he doesn't get his money back, he would be able to move that person over to the criminal justice system.

Chato1977

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Quote from: nullama on December 08, 2021, 08:11:19 PM

Every time there's a problem with the debt-ceiling in the US since 2011 there has been talks about the possibility of minting a one trillion-dollar platinum coin out of thin air.

Although the current US Treasury Secretary is opposed to this idea, there are people out there that are pushing to make this happen.

On the other hand, most people think that Bitcoin reaching one million dollars is ludicrous.

Combining these two ideas, I get the impression that most people still believe more in the USD than Bitcoin.

Although things might change in the future when Bitcoin reaches $100k at some point. That will probably be an important mental milestone for the average person.

LOL , USD can be frozen instantly so why will people trust this over bitcoin ? only noob and those does not know the deepest idea of Holding their funds in crypto.
and besides Bitcoin cannot be manipulated by the government when USD can be done.
it is only your belief that brings you that and also those who knows nothing about bitcoin but for us who has been in this market for long? we knows what will favor us.

michellee

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It is because they can see USD form than bitcoin form and they already used USD a long time ago. They still prefer USD to bitcoin in their daily because besides that, they get an easiness using USD because USD is accepted in all countries while they can not use bitcoin in all countries.

But some people realize that bitcoin can be used for transactions and also as an investment so they prefer to use both USD for their daily life and bitcoin for their investment. Those people will have a chance to change their life because they can prepare their life for the future.

Topic: I think most people still trust the USD more than Bitcoin - page 3. (Read 690 times)