If Bitcoin is a get rich quick scheme, then fiat is a get poor slow scheme - page 7.

Diirtmaan

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Quote from: Yourhomeboy on December 06, 2019, 06:11:18 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.

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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.

TIDOVEE

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The relationship between bitcoin and Fiat is so defined that it cannot be argued soon. Well, anyone that calls it a "get quick scheme" has an idea, because it actually has a character of making one rich. But it should not be mistaken for ponzi scheme. Because Ponzi schemes is a scam. Mind you this had not make Fiat a get poor slow scheme. Fiat is just on it's own has a simple medium of exchange.

gentlemand

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Quote from: davis196 on December 06, 2019, 07:27:11 AM

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?

It floats off elsewhere? There's a big old world out there with a few billion more people many of whom have little interest in what Europe or America think. And people in those countries will continue P2P.

mitchr4

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The tweet has nothing to do with Fiat. I think Op is misinterpreting that, it should be Bitcoin a slow scheme not to be poor.

davis196

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Quote from: Yourhomeboy on December 06, 2019, 07:14:26 AM

Quote from: Kupid002 on December 06, 2019, 07:09:13 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.

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?

DabsPoorVersion

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Quote from: mk4 on December 06, 2019, 07:14:53 AM

The tweet by Jameson Lopp that OP is referring to: https://twitter.com/lopp/status/1171847107243859968?lang=en

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.

Quote from: Kupid002 on December 06, 2019, 07:09:13 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.

If the winning cryptocurrency would be a cryptocurrency that the government can control, then what's the point of replacing the current fiat system in the first place? One of the main reasons bitcoin exists(along with most cryptocurrencies) is to have a currency that not a single central entity can control it.

It is like we're just moving forward towards the trend of technology. If the government will have its own crypto to be used by every individual, it has no difference between fiat currency. Centralization will only lead the point of having decentralization to waste if we still get to used the same process as we have on fiat.

Shenzou

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The problem with the current system is that you are forced to go with what it tells you to do, government will never accept bitcoin or any other cryptoucrrency because they have no control over it, they are unable to monitor the flow of the transactions like from who are coming from and to who are going to because it is decentrelized, sure the fiat system might at some point fall but it would be replaced by another system maybe a crypto that is made by government that they control, and the people would have to use it even if they don't want to because you need to to be able to survive in a society controlled by the system.

gentlemand

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Quote from: Kupid002 on December 06, 2019, 07:09:13 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.

Governmentcoin will be fully digitised fiat. There won't be any difference in its fundamental nature, only its implementation. Their absolute control over it, and you, will make it more worthless with greater rapidity and make a stronger than ever case for Bitcoin.

mk4

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The tweet by Jameson Lopp that OP is referring to: https://twitter.com/lopp/status/1171847107243859968?lang=en

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.

Quote from: Kupid002 on December 06, 2019, 07:09:13 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.

If the winning cryptocurrency would be a cryptocurrency that the government can control, then what's the point of replacing the current fiat system in the first place? One of the main reasons bitcoin exists(along with most cryptocurrencies) is to have a currency that not a single central entity can control it.

Yourhomeboy

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Quote from: Kupid002 on December 06, 2019, 07:09:13 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.

Sure the government cannot control Cryptocurrency but the Government is likely to Crash too

Kupid002

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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.

Yourhomeboy

member

Activity: 174

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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

Topic: If Bitcoin is a get rich quick scheme, then fiat is a get poor slow scheme - page 7. (Read 1518 times)