No need to mention that, we know how big USD is compared to bitcoin.
USD is globally accepted while Bitcoin is not due to some restrictions, in fact, bitcoin is not considered as the main currency but only an alternative currency when it was created and we should be happy it was able to perform according to its purpose.
Even if bitcoin's adoption will increase more in the future, it will never surpass the power of USD.
Topic: I think most people still trust the USD more than Bitcoin - page 5. (Read 654 times)
https://www.cnbc.com/2021/12/10/consumer-price-index-november-2021.html
Maybe they don't trust USD so much anymore? USD inflation rate reaches 40 year high at 6.8 percent. This is even worse than it's been during the housing market crisis where the global economy almost tanked. At some point, the consequence of injecting trillions into an economy outweighs the benefit, and more people recognize that their purchasing power is decreasing every day.
The idea that government induced policies can essentially siphon money out of your holdings through reckless policy is why USD, and every other currency, is a sinking ship. This sort of inflation is not sustainable.
Maybe they don't trust USD so much anymore? USD inflation rate reaches 40 year high at 6.8 percent. This is even worse than it's been during the housing market crisis where the global economy almost tanked. At some point, the consequence of injecting trillions into an economy outweighs the benefit, and more people recognize that their purchasing power is decreasing every day.
The idea that government induced policies can essentially siphon money out of your holdings through reckless policy is why USD, and every other currency, is a sinking ship. This sort of inflation is not sustainable.
Of course people trust more in usd than bitcoin, it has an expensive advertising campaign behind it 
like all other fiat does.
like all other fiat does. It is better to say that people believe in the government and politicians who will always advocate fiat. It is completely illogical that at this point most people start believing in Bitcoin, which despite 12 years of its existence is still something that people do not trust too much. However, the average US resident has a far better chance of finding out about BTC and being informed about it through the mainstream media than the average European. I watched CNBC a bit recently, and the price of BTC appears every few minutes in their infographics side by side with gold, silver, and best stocks, which certainly sends a very strong message to anyone watching such a program.
Here where I live people have very little or no knowledge of BTC, and the mainstream media mostly portrays it as something bad - while the central bank and related financial agencies have a very negative attitude towards cryptocurrencies in general. In this case, the average person cannot develop a positive attitude towards something that is constantly criticized.
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.
You can't change everyone's mind in a short time when everyone in the world since they were still in school was taught to only believe in the fiat currency of the country. bitcoin is still very early, let us slowly see millions of people change their minds and believe in bitcoin, all we can do now is believe and keep working hard to convince people around us that bitcoin is much better than fiat. 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.
How do you know this for sure though? Is there a study or a survey conducted in this case that supports what you're claiming? Because in my opinion it's mostly opinionated and you're not looking at it in a wider perspective and you're just forcing or focusing on what you see because for me it's different, people have a varying opinions on this one.
there are many reason why most people believe in usd than bitcoin. they still need for life, simple is no one know about bitcoin in that area, or they see bitcoin as investment. they think, usd be the main strong handle for future.
in a fact, people obtain crypto and they sell if the price is good, they need money for their life and lust.
in a fact, people obtain crypto and they sell if the price is good, they need money for their life and lust.
For now though... I mean how long will that continue? Sure people who are 50+ years old will trust USD more than Bitcoin they have seen it all their life. However, bitcoin has been around for 10+ years now, so there are some kids who were born after bitcoin was created and they are actually starting to earn some money. Sure most 11-12 years olds do not make profit, considering bitcoin was "created" in 2008 but started in 2009, we could say maybe as high as 13-14 years right now, and most of them do not really make money right now but I am talking about like lemonade stand type of situation and they are learning about money these days.
There are MANY that are in early 20's and been living through this and seen that fiat world is treating them horribly so they are switching to bitcoin. Unless a better alternative to crypto comes up, I feel like this result will change in 20-30 years, we may start to have more people trusting bitcoin more than they trust USD.
There are MANY that are in early 20's and been living through this and seen that fiat world is treating them horribly so they are switching to bitcoin. Unless a better alternative to crypto comes up, I feel like this result will change in 20-30 years, we may start to have more people trusting bitcoin more than they trust USD.
Let me ask you this question.... What would you trust more? ...A new technology that has only been around for a couple of years and one that are highly experimental .... or a Global reserve currency that has been around for 229 years?
You cannot compare a reserve currency that has been manipulated by the US Government for most of it's existence and then use Bitcoin that are not being artificially pumped and protected by any government to be a fair comparison!
You cannot compare a reserve currency that has been manipulated by the US Government for most of it's existence and then use Bitcoin that are not being artificially pumped and protected by any government to be a fair comparison!
Of course, USD is the world's strongest currency and has always been the standard price for products and services globally, USD gets a full guarantee from the US government, so as long as we keep USD, the US government will guarantee that USD can be received. another factor is because the value is stable so that people are not afraid to save in large amounts, this is different from bitcoin whose value fluctuates because it is a decentralized concept.
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.
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.
Because USD is still a native payment for most people, not only USD other native currency according to their countries is still preferable rather than trying bitcoin as their payment. Maybe because Bitcoin volatile is so high so many people afraid to use it as their currency and use it as an investment instead. It takes time to people recognize the true power of Bitcoin
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.
It’s not really that people don’t like bitcoin, the volatility is a problem for most of them. I’m saying this based on my own personal observation, although this might differ for others depending on the location/country they are living at; majority of the lower and middle class are afraid to invest in bitcoin, because of how the price fluctuates too much. But, that doesn’t mean that they don’t like it or that they prefer the fiat over bitcoin.Although the current US Treasury Secretary is opposed to this idea, there are people out there that are pushing to make this happen.
When I talk with some people and ask them why they don’t want to invest and hold bitcoin, that’s the reply they always give me, that they are afraid of the volatility of bitcoin, but they do like it, just that they are not sure about it. So they like it, but they just don’t know whether to of for it or not.
this is actually a normal thing for now because most people still believe in everything that is issued by the government compared to something whose regulations are still questionable.
bitcoin still has not gained full trust among the government and this is a stumbling block for people it is very difficult to trust bitcoin compared to USD.
Trust would really vary but no doubt that people would still be ending up on accumulating fiat rather than with crypto because they do know those legal issues or adoption situation which couldnt really be still on full scale due to regulation which it isnt surprising that government cant really just accept it easily.bitcoin still has not gained full trust among the government and this is a stumbling block for people it is very difficult to trust bitcoin compared to USD.
Lets the people decide on which one they would be stepping into and also we could freely engage with crypto even we are trusting fiat and thats
the beauty on having multiple options.
I think mot only USD but also other fiats for every country.
The use of fiat has been since long time ago and been used for every single transaction in the country or over broad.
We cannot replace fiat with Bitcoin. Moreover it is about society in which it is different each country. We can see many countries still ban crypto if used as currency, but fiat is always used for a currency and also payment transaction. Fiat is created by the government of the countries and commonly under the world bank. That is why Fiat has the biggest trust and also part in this life.
The use of fiat has been since long time ago and been used for every single transaction in the country or over broad.
We cannot replace fiat with Bitcoin. Moreover it is about society in which it is different each country. We can see many countries still ban crypto if used as currency, but fiat is always used for a currency and also payment transaction. Fiat is created by the government of the countries and commonly under the world bank. That is why Fiat has the biggest trust and also part in this life.
What you describe is true, it is impossible for fiat to be replaced by Bitcoin. Moreover, most countries in the world prohibit using Bitcoin as
a means of payment. That is the reason why many people still trust fiat more than Bitcoin. Then USD has been recognized for a long time
as a means of payment for international transactions, no wonder many people prefer to use USD over Bitcoin when buying goods from abroad.
So somehow Bitcoin is indeed more effective as a digital asset for now, and we as Bitcoin supporters should be grateful for that.
Combining these two ideas, I get the impression that most people still believe more in the USD than Bitcoin.
Obviously it should be the old generation guys who don't want bitcoin to grow either because they plenty USD already in the banks or they are scared of bitcoin volatility blowing anywhere interms of direction or fear of bubble. The old generation is not just the old age level but some young people who don't believe in bitcoin are also classed among the old generation. Bitcoin ethusiast are sure bitcoin is the new way of thinking, they believe in it and are investing.
Normal to see this as the current trend doesn't sink in to the minds of the adults that's why majority of them still prefer usd over fiat since people always believe on what they see and touch rather than the digits we see online so its not surprising to see many people skeptical about it since bitcoin still not supported by government that's why many think about shady about it.
I think mot only USD but also other fiats for every country.
The use of fiat has been since long time ago and been used for every single transaction in the country or over broad.
We cannot replace fiat with Bitcoin. Moreover it is about society in which it is different each country. We can see many countries still ban crypto if used as currency, but fiat is always used for a currency and also payment transaction. Fiat is created by the government of the countries and commonly under the world bank. That is why Fiat has the biggest trust and also part in this life.
The use of fiat has been since long time ago and been used for every single transaction in the country or over broad.
We cannot replace fiat with Bitcoin. Moreover it is about society in which it is different each country. We can see many countries still ban crypto if used as currency, but fiat is always used for a currency and also payment transaction. Fiat is created by the government of the countries and commonly under the world bank. That is why Fiat has the biggest trust and also part in this life.
Combining these two ideas, I get the impression that most people still believe more in the USD than Bitcoin.
The main question here is where do you get the idea that Bitcoin is being more trusted by people compared to Bitcoin? We crypto user is a just a small percentage to the total population of the world. USD is being used since the introduction of fiat currency so its obvious that the majority of people will trust no matter how shady its printing process because its working as currency.
More massive price increase on Bitcoin means more criticism and doubt from Bitcoin critics. I preferred for Bitcoin price to become stable in the future rather than having an astronomical growth with a very volatile market due to fear.
I will say to some percentage people do because they believe they have access to USD than bitcoin that they hardly know anything about but with the increase in technology more people are gaming into Bitcoin than you think
Combining these two ideas, I get the impression that most people still believe more in the USD than Bitcoin.
Obviously it should be the old generation guys who don't want bitcoin to grow either because they plenty USD already in the banks or they are scared of bitcoin volatility blowing anywhere interms of direction or fear of bubble. The old generation is not just the old age level but some young people who don't believe in bitcoin are also classed among the old generation. Bitcoin ethusiast are sure bitcoin is the new way of thinking, they believe in it and are investing.
What's USD?
It's not an investment, it even if considered an investment would still does not give good returns at all (compared to Bitcoins and other cryptocurrencies). There are things like Pandemic which would still affect the whole government/ the whole market. On the other hand they are liable to : control and corruption as well.
People don't have trust on USD but on the country USA at the end of the day, they don't have any idea about *debt*, the *money printing* which does mean that the country might fall soon. With the people *leaving their jobs* the economic stability might be problematic.
Therefore I do think that people need to *evaluate* their decisions and think about their statement again and make a wise decision.
It's not an investment, it even if considered an investment would still does not give good returns at all (compared to Bitcoins and other cryptocurrencies). There are things like Pandemic which would still affect the whole government/ the whole market. On the other hand they are liable to : control and corruption as well.
People don't have trust on USD but on the country USA at the end of the day, they don't have any idea about *debt*, the *money printing* which does mean that the country might fall soon. With the people *leaving their jobs* the economic stability might be problematic.
Therefore I do think that people need to *evaluate* their decisions and think about their statement again and make a wise decision.
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 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.
....
If $1 trillion dollars worth of platinum, could be molded into a coin. A cube. Or another geometric shape. It would only be useful so much as it could be divided into individual sums to pay liabilities and cover debt.
If the united states owed the EU $200 billion, japan $100 billion and china $700 billion. A trillion dollar chunk of platinum could not easily be divided into $200, $100 and $700 billion dollar chunks. It would be useful as collateral and backing with the understanding that it could be chopped up and divided in an emergency. Beyond that its utility would be restricted, in ways which a $1 million dollar bitcoin would not.
With the US economy being roughly $20 trillion in GDP. A $1 trillion chunk of platinum would cover roughly 5% of GDP. Far shy of covering the national debt. Much less swiftly growing costs of social programs, which grow at a significantly greater pace than tax revenues.
Roughly 5% of GDP without factoring in the cost of purchasing platinum or extracting it from the earth. Which would have overhead costs of labor, equipment and surveys.
$1 million dollar bitcoin is much more exciting and useful than a big slab of platinum IMO.
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