Topic: If Bitcoin is a get rich quick scheme, then fiat is a get poor slow scheme - page 6. (Read 1518 times)
December 06, 2019, 10:50:49 PM
bitcoin has opened up jobs for many people all over the world and has also created some new wealthy people. but I think even though bitcoin has provided many benefits for us holders. the government will not be able to directly replace their fiat currencies with bitcoin. because many things need to be prepared to replace fiat currency with bitcoin. and also our people are used to using fiat money so I think it's quite difficult for them to switch to using bitcoin. bitcoin is a fast way to get more fiat money. but in payment we will still rely on fiat money.
December 06, 2019, 09:24:24 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
Right now fiat can be use by anyone whether you are poor, illiterate or pwd but if the time will come that crypto can serve this kind of service also then there is a possibility that crypto can replace fiat someday because everything will always depend to adoption and whether it can be use by anyone. Share your thoughts
I cannot say that fiat is a type of scheme to make us poor or even Bitcoin is not a scheme to easily get rich. All will always depend on how you are going to adapt and make a living for it, without work you will not earn anything even the hackers need a lot of hard work to bypass their target.
December 06, 2019, 09:05:40 PM
Bitcoin isn't a quick rich scheme. In my experience it is a quick rich scheme for very few users who are lucky to earn big out of the investment in a very short. Looking upon the profit earned by that few we can't believe this to be a quick rich scheme. Such a misunderstanding is the reason for people to fall on traps. Whether it is cryptocurrency or fiat when used with perfect plans and good learning about the market it'll be profiting someday.
The people who do arrive just before a bubble are almost always too dazzled to see it for what it is so don't ride it up and bugger off like the real pros. Then they have to sit there waiting for years. I'd say it's like a torture chamber with the prospect of escape just beyond one's grasp.
December 06, 2019, 06:26:38 PM
I'm not really sure what you mean by the government and the people "crashing", but I disagree with your other statements. Fiat is still a better currency to use for businesses simply because of the stable value of the USD(compared to BTC at least), and because fiat is still far easier to use than cryptocurrencies in general.
Also, as a long term bitcoin bull, you don't really expect the current fiat system to be replaced by bitcoin "soon". It will definitely take a while. Bitcoin isn't even ready yet to use for-payments.
That's true, even though Bitcoin provides an opportunity to get a bigger profit than fiat, it really depends on each strategy. Fiat, although not as fast as bitcoin in providing benefits, has many advantages as well and is more effective in certain matters and easier to use by the general public. So, I prefer to use it in a balanced manner, taking advantage of each, complementing each other. Also, as a long term bitcoin bull, you don't really expect the current fiat system to be replaced by bitcoin "soon". It will definitely take a while. Bitcoin isn't even ready yet to use for-payments.
December 06, 2019, 06:22:32 PM
~snip~
Everything is that Bitcoin represents a technology, apart from it is a deflationary economy, while the FIAT currency is a currency that is controlled, comes from an economy that has mostly its common denominator debt and tends to have inflation, is controlled by governments and Banks.
In the not too distant future there will be a migration to digital, and the US is considering the digital dollar, China is preparing everything for its launch of its own cryptocurrency, in addition Germany is joining the same trend.
But both economies can coexist, there is no problem, the only thing is that they always attack bitcoin and cryptocurrencies for the fact that they are not controlled, now they are taking some measures such as the KYC to decrease their privacy, and in some countries they placed taxes for crypto and it is not that Bitcon is a scheme for the rich, but that it is much more accessible than it is with the traditional economy managed by third parties.
December 06, 2019, 05:56:16 PM
Well, there might be another currency apart from the Bitcoin that will be universally accepted. Nowadays, Central Banks are looking into the blockchain deeply and planning to issue their own token. Who knows what the future will hold but we are just speculating. I will be glad though if it will be Bitcoin
December 06, 2019, 05:42:09 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
I think bitcoin cannot replace fiat money as a currency use, in a lot of countries they are using fiat money but have a different value just like a pesos or a dollar,Share your thoughts
in my opinion bitcoin cannot be the only currency in all over the world because different country has different standard other things might be cost or expensive in other country but not in other countries, maybe bitcoin is going to reply the fiat money but I don't think that fiat money is going to disappear if the bitcoin become a top currency I think fiat money is still in use.
fiat will still exist, but it will become a more modern digital entity, and bitcoin will run on both more complex functions, but will still refer to the fiat value equation, because it is not possible to form stable prices on btc without active legal policies.
December 06, 2019, 05:25:35 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
I think bitcoin cannot replace fiat money as a currency use, in a lot of countries they are using fiat money but have a different value just like a pesos or a dollar,Share your thoughts
in my opinion bitcoin cannot be the only currency in all over the world because different country has different standard other things might be cost or expensive in other country but not in other countries, maybe bitcoin is going to reply the fiat money but I don't think that fiat money is going to disappear if the bitcoin become a top currency I think fiat money is still in use.
December 06, 2019, 03:16:16 PM
Bitcoin is doing these big ups and down because we are still in its early days. That big roller coaster made lots of people rich beyond imagination and made lots of people poor (for now) sadly.
The FED, ECB, BoJ, BoE they all print money in exchange for what? Debt. I would say nothing but it is worse than nothing. In other words, they are printing debt, not money.
Money should be sound. Money should be limited supply. Bitcoin is the perfect money.
The FED, ECB, BoJ, BoE they all print money in exchange for what? Debt. I would say nothing but it is worse than nothing. In other words, they are printing debt, not money.
Money should be sound. Money should be limited supply. Bitcoin is the perfect money.
December 06, 2019, 03:10:39 PM
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.
Sure the government cannot control Cryptocurrency but the Government is likely to Crash too Really?So you are saying that no government can't control crypto mining and trading?
What if USA and EU ban crypto mining and trading?What happens then?
Bitcoin isn't a quick rich scheme. In my experience it is a quick rich scheme for very few users who are lucky to earn big out of the investment in a very short. Looking upon the profit earned by that few we can't believe this to be a quick rich scheme. Such a misunderstanding is the reason for people to fall on traps. Whether it is cryptocurrency or fiat when used with perfect plans and good learning about the market it'll be profiting someday.
Well, if we interpret the name of the thread loosely, it's correct. Fiat is a 'get poor slow scheme', because of inflation that inevitably makes the value of fiat decrease (what's also called 'the hidden tax'). Bitcoin, on the other hand, is not susceptible to inflation and growing in value with time due to limited supply. So it is a 'get rich' scheme, kind of, and if you compare it with getting rich while investing in things like stock, it offers profits faster. December 06, 2019, 10:41:22 AM
You should also consider possible problems in the future if bitcoin replaces crypto immediately,
I'm sure this will create havoc especially for people who are unfamiliar with bitcoin and other altcoins. It has to be well thought out and I don't think it's time for bitcoin to replace fiat currency.
I'm sure this will create havoc especially for people who are unfamiliar with bitcoin and other altcoins. It has to be well thought out and I don't think it's time for bitcoin to replace fiat currency.
December 06, 2019, 10:19:58 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.
I think it must be BTC, the main crypto!!!
December 06, 2019, 10:18:02 AM
If BTCtc was a get rich quick scheme then i should be rich by now 
and stop being a hunter, have enough money to travel the world however it is not or at least not for me yet, or maybe if i had taken advantage of 2017 the way some people did, i would be rich by now, 
so even if BTCtc was a get rich quick scheme back in 2017 things have change now, patience plays a big role now.
and stop being a hunter, have enough money to travel the world however it is not or at least not for me yet, or maybe if i had taken advantage of 2017 the way some people did, i would be rich by now, so even if BTCtc was a get rich quick scheme back in 2017 things have change now, patience plays a big role now.
December 06, 2019, 09:41:41 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.
December 06, 2019, 09:31:26 AM
There is a lot of online revenue due to bitcoin but that doesn't mean bitcoin will replace the fiat currency,
There is a lot to do in order for bitcoin to replace fiat, such as awareness, adoption, accepting and of course its own internet and mobile phones.
And I think it is hard to accomplish.
There is a lot to do in order for bitcoin to replace fiat, such as awareness, adoption, accepting and of course its own internet and mobile phones.
And I think it is hard to accomplish.
December 06, 2019, 09:22:56 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
Share your thoughts
Good point there. But there are also many other metrics and value that are independent and the value are generally compared among a wide range of such metrics. For example the price of Gold or the oil. The price of gold compared to fiat is relatively stable than crypto. Crypto is even much volatile on comparing other unrelated pairs as copper/oil is more Stabler than bitcoin/oil or copper/bitcoin. There's no much use of insulting fiat.
December 06, 2019, 09:15:47 AM
Bitcoin isn't a quick rich scheme. In my experience it is a quick rich scheme for very few users who are lucky to earn big out of the investment in a very short. Looking upon the profit earned by that few we can't believe this to be a quick rich scheme. Such a misunderstanding is the reason for people to fall on traps. Whether it is cryptocurrency or fiat when used with perfect plans and good learning about the market it'll be profiting someday.
December 06, 2019, 08:56:12 AM
Government is the real problem why its harder to make it happen . They do not want a money that they cant control and if they see it as a threat they can easily ban it in thier country so no one would buy and stored that currency.
That's what the government is for, they have the authority to do that if they see a threat. But there are some countries also have other views as an advantage so in fact, it is only a matter of time how the government can get positive education about Bitcoin in order to develop Bitcoin in their government. 
December 06, 2019, 08:09:02 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
Share your thoughts
The main problem of replacing fiat with Bitcoin is the resistance of the government. Just understand that Bitcoin does not give power since it can not be controlled like fiat. That's why it's so hard to switch to digital money.
December 06, 2019, 07:50:22 AM
The gov't won't crash but its economic and currency can crash through crisis and hyper inflation. You can see an example with Venezuela, the country is on hyper inflation and fiat there is mostly nothing. With the interview that I've watched about the situation of citizens there, your one month salary is enough for only one-snack meal.
Fiat will be replaced soon by bitcoin.
Before, I think it's a yes but as time passes by, governments are starting to go full crypto now so how it can replace fiat if the gov't itself will use that idea to digitalized local currencies that we use? Jump to: