Fiat will be replaced with another currency, though no one knows whether it's gonna be with Bitcoin or other altcoins. I don't think any government will allow the citizens to do Bitcoin uncontrollably, or any other generated Cryptocurrency, every government has a tendency to dominate and control every currency and every person. Each government has a central bank. Therefore, Bitcoin and Cryptocurrency will always be in the mainstream without being accepted by themselves. So I don't think that very soon Bitcoin or any cryptocurrency will replace traditional usd. This could be likely in the distant future, though, and hopefully it will happen.
Topic: If Bitcoin is a get rich quick scheme, then fiat is a get poor slow scheme (Read 1518 times)
January 16, 2020, 05:04:18 PM
February 03, 2020, 10:28:31 AM
I am not sure whether we can compare the two, because Bitcoin is an asset mostly used for investment nowadays and fiat currency is mostly used as a medium of payment. The purpose of fiat currency is different from that of Bitcoin. So it won't be proper to say that anyone investing in fiat currency will be getting negative returns (just because we are not supposed to "invest" in fiat currency). Now please don't misunderstand me. I am not a fan of fiat currency and for the last 8 years, I have remained as a loyal user of Bitcoin. But I need to clarify certain things, so that the new users won't get confused.
February 03, 2020, 09:18:23 AM
It depends on the individual if he can acquire the possibility on getting rich through Bitcoin or through Fiat because there are different cases that even a single person just sticks into Fiat all throughout his life, he still manages to get rich all by himself. On the other hand, cryptocurrency such as Bitcoin provides us a great opportunity and possibilities of earning large income through working into various ways possible that is also dependent into your preference. Even if cryptocurrency provides us such opportunity, the effort we exert on dping work related to earning crypto will say what can truly happen to our journey on crypto industry. Still working hard is the best way to get rich and there is no such shortcut on doing such thing but exerting hard work on every single thing you do whether it is on Fiat or cryptocurrency. Having a wise choice and also good decision making matters if you will going to be rich or another way around because even if you have greater possibility to get rich with cryptocurrency but you have poor intelligence on decision making you might still end up being poor.
January 16, 2020, 12:02:39 PM
Government backed fiat will crash and government will still be standing? I really doubt both these will happen at same time.
If there is no fiat then there will be no government operating in the country, since the financial control is one of the strong pillar on which any governments stand. Bitcoin has its own value and use cases but that doesn’t mean we should start saying that it’s going to replace fiat.
Bitcoin can not replace fiat in any way because cashless economy can not be possible. Bitcoin stands on its own without the government’s support. That is true that bitcoin will hold a strong position in our lives in future but it will use in parallel to the fiat. It can in no way fully replace fiat. If there is no fiat then there will be no government operating in the country, since the financial control is one of the strong pillar on which any governments stand. Bitcoin has its own value and use cases but that doesn’t mean we should start saying that it’s going to replace fiat.
January 16, 2020, 04:57:35 AM
Government backed fiat will crash and government will still be standing? I really doubt both these will happen at same time.
If there is no fiat then there will be no government operating in the country, since the financial control is one of the strong pillar on which any governments stand. Bitcoin has its own value and use cases but that doesn’t mean we should start saying that it’s going to replace fiat.
If there is no fiat then there will be no government operating in the country, since the financial control is one of the strong pillar on which any governments stand. Bitcoin has its own value and use cases but that doesn’t mean we should start saying that it’s going to replace fiat.
January 16, 2020, 12:33:31 AM
I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.
Share your thoughts
A lot of people speculating that cryptocurrencies will eventually replace Fiat but I think not because first of all government who is the one handled the monetary system. It will be hard for government to monitor this kind of currency so there's a high for them to not accept this technology or simply ban this on their country. Probably, they will use it as an alternative monetary system for the country. Share your thoughts
January 15, 2020, 11:58:44 PM
in the digital age like today, many people speculate the same thing as you. but it seems that most of every government wants everything to be centralized, so they can control. whereas we all know that bitcoin is decentralized, so it seems that it will be difficult to replace fiat. at present, in my country, bitcoin is only used as an alternative currency and as an investment.
January 15, 2020, 10:03:03 PM
I like Bitcoin and cryptocurrency, but judging from how things are going right now I would say that decentralizedcryptocurrency is not going to replace fiat.
You should take China as an example, they are creating their own cryptocurrency but they never said that they are going to stop their citizens from making use of their fiat (Chinese Yuan), rather their cryptocurrency will be another option for those who doesn’t want to make use of the regular currency and it will also be a faster means of transaction and the way I see it, it will be issued by the banks and people will be able to exchange it for fiat if they wish to. So fiat will still be there and governments will create centralized cryptocurrencies that they can regulate.
You should take China as an example, they are creating their own cryptocurrency but they never said that they are going to stop their citizens from making use of their fiat (Chinese Yuan), rather their cryptocurrency will be another option for those who doesn’t want to make use of the regular currency and it will also be a faster means of transaction and the way I see it, it will be issued by the banks and people will be able to exchange it for fiat if they wish to. So fiat will still be there and governments will create centralized cryptocurrencies that they can regulate.
January 15, 2020, 12:04:24 AM
I wonder why the subject is directly saying using fiats is an indication of a negative future, but in fact, the systems we've developed in fiats is the foundation why we have the best currencies of today which is the cryptocurrency. Being rich will not be determine on what currency we have, nor the economy we belonging into, it will be based on how aware we are to our condition, and how we keep on working hard to escape poverty. As a bonus, if we try to have our knowledge deeper, it will help us to grow faster and eventually become rich.
Fiat currencies are not the foundation of cryptocurrencies, there is a reason why bitcoin is often thought to be some form digital gold, bitcoin has almost all the characteristics of gold but with the advantage that it is very easy to store compared to gold.But if at some point in time governments begin to develop their own cryptocurrencies you are going to see the difference, they are going to create a centralized cryptocurrency that is going to be nowhere near what bitcoin is about and it will not offer the freedom that bitcoin offers.
January 12, 2020, 03:45:31 PM
I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.
Share your thoughts
Share your thoughts
People don't like to pay taxes, many local currencies always devalue, bitcoin have high tendencies to increase in value over time. So, because of these, people are now preferring to buy and do bitcoin transaction business over fiats.
With that said above, people like to convert fiats to bitcoin and it is very possible that this make bitcoin more wanted than fiats in the future. But, there are barriers that will make this not to happen. Governments are the barriers, that is why they are banning and placing strict regulations against bitcoin.
Although, with strict regulations, bitcoin value is still increase but this has delayed bitcoin to be the world currency.
January 12, 2020, 03:32:11 PM
Bitcoin domination is very falza. Even if the bitcoin price goes up, altcoin prices are adversely affected. Why should people invest in altcoins? For subcoins, the bitcoin price needs to remain constant. In 2020, there could be such an improvement.
January 10, 2020, 02:35:46 AM
I wonder why the subject is directly saying using fiats is an indication of a negative future, but in fact, the systems we've developed in fiats is the foundation why we have the best currencies of today which is the cryptocurrency. Being rich will not be determine on what currency we have, nor the economy we belonging into, it will be based on how aware we are to our condition, and how we keep on working hard to escape poverty. As a bonus, if we try to have our knowledge deeper, it will help us to grow faster and eventually become rich.
I agree no matter what we use even if it's Fiat or crypto it all depends on us.There are successful person in both currency because of their skill and how they manage their profit.
If we couldn't manage our money well no matter how much we have it will always run out .
January 10, 2020, 02:29:22 AM
I wonder why the subject is directly saying using fiats is an indication of a negative future, but in fact, the systems we've developed in fiats is the foundation why we have the best currencies of today which is the cryptocurrency. Being rich will not be determine on what currency we have, nor the economy we belonging into, it will be based on how aware we are to our condition, and how we keep on working hard to escape poverty. As a bonus, if we try to have our knowledge deeper, it will help us to grow faster and eventually become rich.
January 10, 2020, 12:14:48 AM
Neither of these two it's true. You will not get rich with Bitcoin over night and fiat money will not make you poor if you don't make foolish things.
You probably don't know how to handle not Bitcoin nor fiat money so such claims don't reflect reality. But since almost children are also posting here on forum I would say this might be the case here so I will say such attitude is result of lack of life experience.
While it is true you will need to make lots of mistakes to lose your wealth, there is almost no financial education being given at school or at home and many people make those mistakes.You probably don't know how to handle not Bitcoin nor fiat money so such claims don't reflect reality. But since almost children are also posting here on forum I would say this might be the case here so I will say such attitude is result of lack of life experience.
They take loans they cannot afford to pay, they take loans for stuff they do not even need, they choose a career path without any future and with a very low pay, they do not invest for their future, they save in fiat which is losing value every single day, I could continue but you get the point.
January 06, 2020, 05:53:01 AM
Fiat will be replaced by crypto currency but i dont think it will be bitcoin. Government want to control everything and even fiat money , bitcoin cant control by the governement so they will create thier own and will use blockchain technology to make a new way of payment before fiat currency fall.
The government rejecting bitcoin to be the one who beat fiat currencies and totally replacing it is reasonable but the possibility that the government will change and will see what benefit bitcoin gives us compared to fiat and any other payment method in the world now is really big. There is still a lot of time for the government to consider it so I really hope that if fiat will be gone I hope that it will be cryptocurrency who will replace it. January 06, 2020, 05:47:05 AM
I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.
Share your thoughts
The crypto industry has really helped several people online to get employment including myself as a bounty manager and also a community manager with several projects. i would encourage every one in this industry to get a skill in order to get employed by any blockchain startup because we are likely going to earn more than they do not forgetting the upward trend volatility of bitcoin which increases our salaries beyond the normal. Investing in fiat has never and will never be my choice lol. Share your thoughts
January 06, 2020, 05:18:11 AM
Fiat will be replaced soon by bitcoin.
Share your thoughts
Share your thoughts
Not so soon my friend. Fiat currency cannot be easily be replaced with btc as you can see not of all of the nations have fully accepted cryptocurrency as an option of payment. I dont even see that happening while we're still existing in this world. Both could co exist but replacing fiat is almost impossible. Lets be real.
The cryptocurrency cannot replace the fiat because there is a law that a country must have its currency that will use to support and also use for trading into the different currency. Cryptocurrency is just an alternative digital currency that only a few countries accept the adaptation of it. If we are focusing on the futuristic world, we are going towards into cryptocurrency but the government still not ready for this because of the security for each transaction, unlike the fiat they don't need to monitor what transaction they are doing because it is a physical money.
January 06, 2020, 04:52:47 AM
Fiat will someday be replaced by Cryptocurrency by the way Cryptocurrency is getting more attention from the mainstream with an intention to develop their own stable coins. Nevertheless I can't tell exactly which coin will be the reserve currency of the world, I am optimistic this should be the bitcoin.
January 06, 2020, 03:55:55 AM
First time I have read this thread and it gave me a really good laugh. 
Specially the title.
There is a way to make money out of fiat, of course we should have known that if we took a desk job or day job.
Although, I may say that is not just the reason into why bitcoin is toppling the fiat currencies.
But first let us get real.
How are you buying your necessities? Ain't it still fiat by now. We all want to support bitcoin but let us not be exaggerated here.
Fiat is still one of the main reason into why you are living. It might have given you a job to create money but still you are converting it to your own country currency to say that you made money out of bitcoin.
We should not let go the fiat. It is not necessary need to remove fiat because we are now in the transition of paper to digital currency. We need it as of now since our living depends on fiat. We can't buy anything yet without our own currency. Bitcoin is just a tool to cut the boundaries between countries. Bitcoin is a new type of currency. A peer to peer network that creates not just transactions bit opportunity to all. Specially the title.There is a way to make money out of fiat, of course we should have known that if we took a desk job or day job.
Although, I may say that is not just the reason into why bitcoin is toppling the fiat currencies.
But first let us get real.
How are you buying your necessities? Ain't it still fiat by now. We all want to support bitcoin but let us not be exaggerated here.
Fiat is still one of the main reason into why you are living. It might have given you a job to create money but still you are converting it to your own country currency to say that you made money out of bitcoin.
January 06, 2020, 03:44:32 AM
It is totally a different manner if we see it in a holistic point of view. Most people see bitcoin and cryptocurrency as an investment platform not the usual fiat where our money's value is fixed at the rate provided and determined by the economy we have. In some sense people see the value of stable coins but it is in fact a widely accepted facts that bitcoi and cryptocurrency is a quick eich sceheme mainly because we can't deny its volatility.
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