Is bitcoin actually protecting fiat money? - page 3.

gwdf1

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Will not work like that, bitcoin is a crypto where we invest money and hold there to make a profit and wait until we get it, and is possible in future that crypto replace fiat money but will take time and need also governments to accept it.

I do not see here any sense: how can Bitcoin protect fiat? Bitcoin is virtual money, and it does not relate to traditional currencies. probably, those, who work with crypto, use fiat not so often and save it?

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Quote from: Allura74 on June 19, 2019, 11:35:55 PM

Quote from: princeyeboah on June 19, 2019, 09:04:42 PM

Bitcoin was created to harness financial transactions and payment systems within companies, among individuals, firms, businesses etc under well decentralized platform. Fiat and Bitcoin share common features when it comes to payment of goods and services.

The popularity of bitcoin signifies that fiat and crypto are still related to each other, many people around the world involve in bitcoin transaction with mostly one common goal and that is to gain fiat money through bitcoin and there are some rumors that crypto currency will dominate in the near future and it is possible because the world are escalating its technology year by year.

It is true that one of the main motivations to invest in bitcoin is to gain more fiat but that is because the fiat system is still dominant, if this begins to change then we will being to see people that will care only about their bitcoin holdings, in a way this is already happening since there are many whales which have as their only purpose to get more bitcoin, after all what it is the point of selling your bitcoin now for a price close to 10k if bitcoin will be worth many times that in a few years?

slashz9

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well my opini fiat and crypto is not kill each other, its can be side by side, so i think even if crypto will famous in the future or will more demand on it. fiat still be there and not gone.
because many people still using fiat for small transaction, even we know the weakness is inflation, but doesn't mean fiat will not interested anymore than crypto.
crypto will not ruin fiat, it will be another way to avoid inflation.

TIDOVEE

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bitcoin may subconsciously have a protective function for fiat, but both have complementing characters and are walking hand in hand. bitcoin have a tendency of acceptance than fiat in the nearest future. and may be preferred to fiat by many. the presence of bitcoin alternates fiat and this is a protective function.

Allura74

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Quote from: princeyeboah on June 19, 2019, 09:04:42 PM

Bitcoin was created to harness financial transactions and payment systems within companies, among individuals, firms, businesses etc under well decentralized platform. Fiat and Bitcoin share common features when it comes to payment of goods and services.

The popularity of bitcoin signifies that fiat and crypto are still related to each other, many people around the world involve in bitcoin transaction with mostly one common goal and that is to gain fiat money through bitcoin and there are some rumors that crypto currency will dominate in the near future and it is possible because the world are escalating its technology year by year.

princeyeboah

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Bitcoin was created to harness financial transactions and payment systems within companies, among individuals, firms, businesses etc under well decentralized platform. Fiat and Bitcoin share common features when it comes to payment of goods and services.

oktana

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it makes sense if it is considered as an alternative maneuver to prevent inflation, especially seeing the potential of technology that will indeed move in that direction. Many short-term fuds have actually been made possible as martyrs of strategies to prepare everything, we can see how they only delay and even ban things that are only temporary cumulative, but there is always another intention behind that.

Leh-Meh

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Quote from: Jacques_Bittard on March 21, 2018, 03:43:43 AM

The biggest threat to fiat money is inflation. Inflation can be cured by injecting wealth into the economy and by that rising enough belief to keep the system afloat. This can be done for instance by occupying foreign countries and by that opening up new markets to the companies that are essential to the economy. Or this can be done by loose regulations with the derivatives markets, that will create wealth out of thin air and high hopes.

only laws of demand and supply apply to world economy. More demand than supply, prices goes up. More supply than demand, price falls.

redsun114

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You are not creating a new wealth out of nothing, people actually spend money on bitcoin and unless you actually cash out you are holding nothing you can use. So if the economy is going to go higher thanks to bitcoin going up that means you need to spend that bitcoin to grow the economy and we do not have that type of major purchases with bitcoin just yet.

You can buy bitcoin which would require you to spend your own hard earn cash but you can also profit from it, however that profit didn't came out of thin air since someone else requires to buy that from you and that means you are just exchanging money from person A to person B.

Crypto is the least of fiats supporters between, crypto came out to stop the banks and governments doing exactly what you think crypto helps meanwhile still helping out the people.

guoyu78

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Quote from: kaya11 on June 13, 2019, 09:34:51 PM

So they could be reversible, that si why we need to by more cryptos, because it is supported by the government. If they are backing each other then the more reason to engage on crypto, then how come people still sometimes believe it is still a bubble in fact the bigger industries and companies are behind it all.

Not many people believes that Bitcoin growth of value is a bubble, people you see saying it genuinely are few why other are just simply saying what they have no idea of, they don’t even know what bubble is and they simply just say it to make a trend or belong to a trend.

Any financial economist or an analyst will really attest to it that Bitcoin growth is simply because we have some major companies who have seen the need for it and are using it for their businesses from time to time, though that does mean we don’t have people who are using the market to play games but 75% are genuine increase from large firms.

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Quote from: Vaskiy on June 18, 2019, 10:38:58 AM

Bitcoin and fiat are interconnected at some point. This is where bitcoin also get used same as fiat though it varies with lot of features that are unique with fiat. For this reason we can't say bitcoin is protecting fiat and vice versa. The volatility with the cryptocurrency market will continue forever unlike the market trend, which is a good under my view.

Yes it is only a small part of the equation in terms of use or transaction, but cryptocurrency has a far better advantage in terms of usage and transactions, therefore I feel that in this case there is no connection with any protection between the two, because the different functions make fiat and bitcoin is opposite each other.

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Quote from: imstillthebest on June 18, 2019, 10:21:25 AM

Quote from: indrakusumaindra on June 18, 2019, 09:51:29 AM

No i dont think bitcoin is protecting fiat money.

when you use bitcoin you are helping to preserve fiat money ,so bitcoin is actually protecting the fiat .

Quote from: SvonioneFromMangoCoinz on June 18, 2019, 06:06:29 AM

Yes, it is currently protecting investors' money, not protecting the value of fiat money.

bitcoin doesnt protect the investors money but there is actually a chance that an investors money could decline becuase bitcoin is not stable . only stable coins like usdt/tether can protect the money of the investors from decreasing . there is no make sense at all to protect the value of fiat money because its not volatile just like crypto .

It is not even the duty of bitcoin to protect fiat, we invest to increase our money and this is being done very well by bitcoin. when we have money it will not beneficial for our future but investing our money in bitcoin is really profitable, we can use bitcoin as fiat but we cannot use fiat as bitcoin, that’s why I think bitcoin is gradually taking place as money in our life.

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Quote from: Indrawan77 on June 14, 2019, 12:17:37 AM

Keeping inflation in a certain rate is a difficult job with the global crisis and other scenario inflation can't be avoid, crypto was created as the currency it never intended for control inflation or help the country's economic, it could help an individual to preserve wealth but not for country

It will help individual indeed, there's nothing crypto can do with the economic problem as it's been created to be one of the form of currency
and every currency can't avoid any government crisis so not even crypto can help anything aside from individual benefits.

Vaskiy

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Bitcoin and fiat are interconnected at some point. This is where bitcoin also get used same as fiat though it varies with lot of features that are unique with fiat. For this reason we can't say bitcoin is protecting fiat and vice versa. The volatility with the cryptocurrency market will continue forever unlike the market trend, which is a good under my view.

imstillthebest

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Quote from: indrakusumaindra on June 18, 2019, 09:51:29 AM

No i dont think bitcoin is protecting fiat money.

when you use bitcoin you are helping to preserve fiat money ,so bitcoin is actually protecting the fiat .

Quote from: SvonioneFromMangoCoinz on June 18, 2019, 06:06:29 AM

Yes, it is currently protecting investors' money, not protecting the value of fiat money.

bitcoin doesnt protect the investors money but there is actually a chance that an investors money could decline becuase bitcoin is not stable . only stable coins like usdt/tether can protect the money of the investors from decreasing . there is no make sense at all to protect the value of fiat money because its not volatile just like crypto .

indrakusumaindra

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Quote from: Jacques_Bittard on March 21, 2018, 03:43:43 AM

The biggest threat to fiat money is inflation. Inflation can be cured by injecting wealth into the economy and by that rising enough belief to keep the system afloat. This can be done for instance by occupying foreign countries and by that opening up new markets to the companies that are essential to the economy. Or this can be done by loose regulations with the derivatives markets, that will create wealth out of thin air and high hopes.

Can it be that pumping of the crypto markets is just another financial shenanigan created to keep the old system afloat?
They are creating new wealth out of nothing with cryptos, just like with derivatives. The made up wealth that is created, is actually backing the value of fiat. This would make sense why regulators seem so blind on goxdollars and tether.

No i dont think bitcoin is protecting fiat money. I do consider bitcoin as an investments and also as the way to earn money via trading. But i do agree that by investing in bitcoin it could help you to avoid fluctuation cause i believe bitcoin investments is a good choices and we are still in early stages which is full of surprises of development of blockchain technology.

SvonioneFromMangoCoinz

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Yes, it is currently protecting investors' money, not protecting the value of fiat money. Those who are smart will know how to use their money to buy BTC or ETH and altcoins with burning function to fight inflation.
Bitcoin is currently considered a great solution for the economic downturn. So Nakatomo Satoshi's wish was successful and we will see the price of BTC increase in the coming years. when everyone recognizes the value and potential of cryptocurrency and especially BTC.

Indrawan77

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Keeping inflation in a certain rate is a difficult job with the global crisis and other scenario inflation can't be avoid, crypto was created as the currency it never intended for control inflation or help the country's economic, it could help an individual to preserve wealth but not for country

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So they could be reversible, that si why we need to by more cryptos, because it is supported by the government. If they are backing each other then the more reason to engage on crypto, then how come people still sometimes believe it is still a bubble in fact the bigger industries and companies are behind it all.

awik p

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Quote from: Capt00 on June 13, 2019, 06:42:02 PM

Quote from: Ranly123 on June 13, 2019, 06:17:56 PM

Quote from: Jacques_Bittard on March 21, 2018, 03:43:43 AM

The biggest threat to fiat money is inflation. Inflation can be cured by injecting wealth into the economy and by that rising enough belief to keep the system afloat. This can be done for instance by occupying foreign countries and by that opening up new markets to the companies that are essential to the economy. Or this can be done by loose regulations with the derivatives markets, that will create wealth out of thin air and high hopes.

Can it be that pumping of the crypto markets is just another financial shenanigan created to keep the old system afloat?
They are creating new wealth out of nothing with cryptos, just like with derivatives. The made up wealth that is created, is actually backing the value of fiat. This would make sense why regulators seem so blind on goxdollars and tether.

I think it's not only Bitcoin but all the coins in crypto market. Though it's too complicated to explain it all, but as we can see crypto has been made as option to earn and help minimize the momentum of inflation is ones country.

Using bitcoin is have a big advantage compared to fiat money. As we look at first, they are just the same knowing the fact that it is considered as a currency also but somehow, people using it as an investment to generate more gains rather than of using it to pay bills or in buying some stuff. By taking this advantage, a lot of individuals jumping on it while leaving fiat money behind.

I think the advantage of using bitcoin as a currency for now is not yet visible. nowadays people tend to use it as an asset, because of its fluctuating nature. plus many people believe that bitcoin will be accepted in all countries later

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