Topic: The bad things will make people hate fiat currency no trust in goverments (Read 288 times)

It is hardly worth agreeing that people, for some reason, hate fiat, that is, the national money of a particular state. In any case, I have not yet seen anyone who would refuse to receive cash or non-cash money from the state. Money is the equivalent of the material wealth of the state, which is in circulation and can be a commodity. What's the point of hating this equivalent of value? In any case, money is not to blame; the government is to blame, because it cannot or does not want to economically correctly organize the effective work of the country’s economic potential.

Even if the citizens hate fiat because it is controlled by the government, they still can't do anything but use the fiat currency that their country has. Because if they don't use it, they won't be able to get the things they want to get for sure, or they will live in a province where the area is not civilized.

That's why most people in every country don't hate fiat; maybe there's only a little hate there, and if there is any hate for fiat currency in their country, it can be said that either they don't know the value of fiat or they're just stupid men.

Fiat currency that is backed by government authority and legal tender laws continues to serve as a fundamental medium of exchange and store of value in economies around the world. Cryptocurrencies may offer certain advantages such as decentralization, security, and potentially greater efficiency in transactions, but fiat currency still plays a significant role in everyday transactions and economic systems.

The widespread acceptance of fiat by merchants, businesses, and individuals, coupled with its stability and government backing, contributes to its continued relevance. There are limitations and challenges associated with fiat currency, including issues such as inflation, government mismanagement, and lack of transparency in monetary policy. These challenges have led some individuals to explore alternative forms of currency, including cryptocurrencies, as a hedge against economic instability and government intervention. It's unlikely that fiat will be replaced overnight eventhough cryptocurrencies offer potential solutions to some of the shortcomings of fiat currency.

Not just 50% but a way larger percentage of cryptocurrency users use fiat, I would say almost every single cryptocurrency user still uses fiat currencies for their daily expenses because cryptocurrencies are not accepted everywhere, even in countries such as El Salvador where Bitcoin is a legal tender, most merchants still accept fiat currency from their customers. So no matter how much we hate it, we are compelled to use fiat currencies until the time when the whole world accepts cryptocurrencies.

So it isn't about what we want because if you ask a cryptocurrency user, they would say that they want to use only cryptocurrencies because they allow transparency and decentralization, but since we don't have that freedom as of now, we are not able to only use cryptocurrencies.

Boss your points are clear, no matter how inflationary fiat can be it still have it's purpose and it was meant to work with crypto, for now we should know that is not every firm that accept bitcoin as a means of their payment, so in this situation what happens, sure fiat plays a role here, there are people that doesn't believe in bitcoin despite the publicity, these set of persons still prefer fiat because they are conversant with it.

I will also say that due to the high inflation in many African countries, citizens has resorted to buying dollar and hodling because of it's potential fast increase and profit, though it is not a good idea to buy and hold another nations currency because of the threat to such country economic activities but that's business and in the recent days, dollar has been profitable to most Africans that are into the business in terms of fast profit, I will tell op for free that no matter what we do in regards to bitcoin, no countries will allow the total dominance of bitcoin in their country because they see it as a threat to their traditional banking system since it is a decentralized asset.

Despite all the challenges that we get,fait still has a role to play in government and nothing can change that.Even if most of us prefer crypto to fait,50% of crypto users make use of fait.
 As a matter of fact,the government is in charge,and fait stands a chance to remain in circulation.Its obvious fait is worthless,we really don't have to abandon fait in just one second,the government has failed many times and fait has been a bone in the neck to us.Let's watch how the government will remedy the problem with fait.

It is no longer possible to restore the situation with Russian oil and gas supplies to Europe, just as it is impossible to restore the tens of thousands of lives that Russia killed after a large-scale attack on Ukraine in February 2022. How impossible it is to bring back the same appearance of residential buildings, schools, hospitals, cultural and historical heritage destroyed by Russia, which were previously in Ukraine.

But most importantly, European countries no longer want to be subjected to periodic blackmail by the Kremlin in order to receive cheap oil and gas from Russia. Putin’s Russia very much hoped that Europe would not prevent it from seizing Ukraine, also counting on the fact that they simply would not have time to react properly due to the fact that the Kremlin would appoint a new government loyal to it on the quickly captured territory of Ukraine, which would assure Europe that Everything is fine in Ukraine and they don’t need to interfere. But all the Kremlin’s calculations were thwarted by the Ukrainian people and their armed forces, who put up heroic resistance to the many times superior forces of the Russian occupiers.

Europe has already understood this and, despite certain difficulties that have arisen, they do not intend to return to the previous situation. And due to the fact that they have taken a course towards abandoning traditional fossil fuels and replacing them with alternative energy sources, this will become more and more impossible every year.

Even if we say we prefer crypto over fiat, no one will listen to us, especially the government, because they hold the power. They are in a position of authority, so they are the ones to be followed in the decisions within their jurisdiction. We may lose trust in fiat due to our situations, but we cannot deny that it is still the dominant form of financial exchange globally. Cryptocurrencies are gaining traction, and we know that there are many opposing views, especially from some governments and institutions, because it is still relatively new and unproven for them. Instead of focusing on the negative, let's be hopeful and proactive, like learning to manage finances wisely and investing strategically to help ourselves weather economic storms and even thrive during difficult times.

Alot of people don't hate fiat currency, it's only the few of us that understand how worthless fiats currency are that hate fiats, give a random person you see on the road an option for them to choose between fiats and cryptocurrency and they'll choose fiats because that's what they know. Fiat is still king and people still trust in the government that's why they're still standing tall and operating. Your Bitcoin or other cryptocurrency that you own still has to be converted into flats of your country before you can use them so throwing away fiats out of the window isn't an option yet.

Inflation is making fiats worthless and the government is making matters worst but just because we see the fiats we have as worthless doesn't mean others see it the same way. People are still killing themselves working tirelessly to get those fiats because they need them to live. No matter what the governments does, people will still trust in the fiats and that's the reason they're still a medium of exchanges up to this day that they're basically worthless than they were in the past years.

The best thing to do is to invest fiats in assets like Bitcoin and other valuable assets that can add value or retain the value of your fiats because keeping (saving fiats) aren't worth it anymore since fiats can be printed without limit making them not to have much significant as there's more supply coming into circulation regularly.

I don't want to talk too much about the corrupt power exercised by the government through any party because the conditions that occur actually make people apathetic towards it. Political power has a good impact on a country and if it is able to run a good system then the country will also be good. But unfortunately the power that exists today is actually used by a handful of people who are involved in politics to destroy the truth for the sake of their group's interests. This problem is increasingly spreading to many sectors so that people increasingly distrust the government system and the greed shown by them causes the emergence of many problems that cannot be resolved.

Banks lose trust in the eyes of the public and money increasingly loses value over time, the problem becomes more complete where people begin to have difficulty finding work to make money. Bitcoin offers a different solution, apart from hierarchical freedom and bitcoin can also be run individually without the need for other parties. This freedom makes people open to getting involved in bitcoin because there is hope that bitcoin can provide the best solution to the old system with its advantages.

Of course at when there is crisis of war that is not manageable for the government to handle and stabilize peace and fairness, the outcome of the crisis lingers to the points that it is not only affected amongst the vulnerables, the poor but also as the rich where lives and properties are not regarded valuable because the government fails to maintain orderliness probably a certain faction is benefited on the caused of the war.

This does not only affected lives and properties but also affected in other nature of human races.
Crisis war paves ways for dubious and  the rebellionists to surfer and strike strive to embesslement of public utilities and revenues by attracting  economical crisis by triggering and extending the unpleasant nature of the society by personal crisis, technological crisis, organisational crisis and the workplace crisis which distabilizes the normalities or standard nature of the economic being.
At a point of such chains that is to profer increase and stabilization in the economy, it is then affected at the fiat because whereas the economy has crumbled, so the fiat is also crumbled.

Bitcoin has really been of measurable means to beat the nature of a society (countries) economy crisis which may either cause inflation or deflation to the economic system.

Bitcoin that one reliable currency that stil maintains ones assets and yet keep your funds personal save that not even the government or nature of the economic system that is affected of it.

Other nature of conventional assets and business can gone down at the cause of crisis so also limitations and conditionality of the fiat can be mandated or introduced by the government or some individuals but the decentralization and the Blockchains of Bitcoin would always keep you safe on a Bitcoin investments.

This is a Major issues while some government is yet to consider Bitcoin acceptable to their government or individual systems because they can't get reach to it nor have the ability to audacity of the Bitcoin because it is a decentralized and a digital currency.

people may hate cash, but it is still a means of transferring wealth and it is guaranteed by a central body, which is the central banks. Therefore, it is difficult to cash. The era of paper money has ended, but it is beginning to have forms of cash instead of the dollar, the euro, and it has become part of the wealth of some in the country. In the form of gold, stocks, debt instruments and Bitcoin, many people are thinking of solutions to reduce cash, especially in investments.

Central banks must balance economic stability and inflation management, especially during downturns. While uncomfortable, rate hikes are typically considered as necessary evils to control inflation. As you say, rising mortgage rates and stretched personal finances can be a real problem for average people. Bitcoin and other cryptocurrencies provide an alternative. Their independence from a central bank makes them less sensitive to policy-induced swings

Regarding the broader socio-economic situation you mentioned - Europe's energy crisis, the Gaza-Israel conflict, and anti-fiat currency sentiment - A tinderbox of concerns that affect each other. People want stability, yet traditional financial institutions are failing. Bitcoin and stablecoins give users financial control. They represent a financial system where individuals have greater say, not just transactional instruments.


Property prices change, and investments don't always pay off. In such cases, diversification into cryptocurrency may help mitigate market instability. Bitcoin's decentralization and global acceptability make it a viable option when traditional systems are stressed

We've been hearing about Bitcoin is a bubble and that won't never stop because it's always been the case that those that can't accept the fact that Bitcoin is widely accepted today and there's still a huge potential to grow, will say the same thing over and over again.

While that percentage of the world's acceptance of Bitcoin is still low, we can see that if people think that it's quite expensive for now. How it is going to be when that percentage of adoption becomes more and increases?

Let's just take one step at a time and let the government do their own thing because no matter what they do, they're only bound to adopt as well.

Are you sure the majority hates fiat? Or the fact that those who come out see the problem of fiat restrictions, express dissatisfaction with them, and also do not change the difference because it will still continue and operate in the way it currently governs. I strongly support crypto, but that doesn't mean I deny the fact that solutions are still not fully applicable in the current world, and fiat is still the main tool to connect us together. Rather, one should not use the negative of one thing in conjunction with the positive of another, even if the problems in current society are not too harsh, people will still have to do other research together to bring specific solutions to life.

The current chaos cannot be entirely blamed on the financial and economic system, it includes many problems that have been around for too long, either benefit or hatred. And it's not really clear that the move to fiat is the target here, I think the reason some people hate fiat is that they don't get the benefits from it, and those who do get the benefits or feel that material things are not too heavy feel comfortable in the face of current instability.

Good data and facts but also a complex dynamic because BTC price changes are very volatile causing this to happen like a bubble and if it is difficult to get the currency out, then the fiat currency on the service becomes less valuable, and the price of bitcoin will be higher and another factor is due to currency uncertainty fiat money.

The war in Russia is now complicated and it will be difficult to stop now. Europe might not also reconsider building back its reliance on Russia for oil and gas because they have built connections with other oil-producing nations. However, stopping the war in Ukraine will lead to a reduction in the prices of agricultural products which will be a good relief for most nations, especially poor countries.

I know most Muslims in Europe are pro-Palestine but I have never seen any news report where they are supporting Russia. Maybe dropping a link to your claims will be useful.

It is estimated that only about 4.2% of the world's population of 7.95 billion owns cryptocurrencies. This means that people still prefer fiat and a loyal to centralised platforms. Maybe the reason might be because of poverty, ignorance, and unfavorable government policies.

Talking about the old and new systems it's affected by age and modernization. Democracy has been around for years and has not evolved, like the days of plutocracy, tyranny etc. With the effect of socio-economy in the life of the society or a nation. Politicians use it as a means of melting the hearts of citizens to vote for them and put them into power. Then these political parties fight against themselves using rivalry to sugarcoat the reason for the disputes occurring in the country or nation. Since their goal is to commit atrocities on citizens, no political party will be happy or stay silent when a ruling party is oppressing and killing the economy of their country. It shouldn't be envy, but they're insatiable. When an opposing political party clashes with the ruling party, the economy of the nation suffers deeply. The people frown at the ruling party, relaying different allegations on them, blaming the problem in the country on the ruling party, and even vow not to vote them in on the next election. The evil plots of the opposing party on the ruling party work, and during the next election they'll use the economic meltdown, war, unemployment, and inflation, to assassinate the reputation of the ruling political party, such that the masses will vote them into the next administration.

When the changes from one political party to another occur, the system of government changes too, just like the Americans have Democrats and republican parties with two different objectives. One cares for the livelihood of citizens while the other is more concerned about free-market capitalism, low taxes, etc. You'd notice that when the democrats are in power, the problem they promised to solve for the citizens of America can be altered by the Republicans, to curtail all their promises, which put them into power. On the other hand, the system of government changes according to the individual objective of the political party in the nation. Hence, the atmosphere of the world is controlled by the different political parties ruling a country. And most often, the opposing sides work strides ahead to cause chaos in the nation, so they can be elected in the next election. Aside from the fact people don't get to experience the achievements of the promises and objectives of the current government, if the nation's economy is balanced and the opposing party allows for peace, the citizens can easily get fed off one objective and go for another. Still giving the next political party a chance to rule again in the country. But, like I said, greediness has eaten deep into the political powers, they can't survive 8 years of no political power.

Before this happened there were many people on this earth who hated the government and lost trust in fiat currency, so the reason why this could happen is probably there were many problems that they couldn't solve which made people lose trust in them. The central bank's decision cannot be separated from the agreement between the government and its parties and this is a tiered work system that requires each other. The economic crisis and chaotic economic problems have not fully provided an opportunity for people to abandon fiat because after all society still needs the old system at this time.

Politics and power play a role in providing solutions and absolutely this should be handled properly by them. There are many problems on this earth that cannot be resolved and in the end we must move individually to secure a better life. The old system and the new system raise different problems and we should be able to adapt them so that we can face normal life like many people.

You could probably do better next time in organizing your thoughts and sentences.

Anyway-- and this is just an observation-- most people only hate that prices are rising fast. They get angry at the fact. They rant about how their money has lost so much value in so quick a time. They normally direct their anger at the government. Sometimes, they also direct the same at the capitalists. But seldom do I hear angry remarks particularly directed at fiat money itself.

News about hyperinflation are highlighting more the government's failure to maintain a good economy. I haven't heard of similar news questioning the fundamental structure of the fiat system which paved the way for these problems. The fiat system necessitates these problems. For as long as money is tied to the government, abuses and problems continue to exist.

It's a global issue that everyone has to deal what's with the crisis that we're suffering right now. There goes the wars that affects a lot of commodities that we need and that sums up to the result of high prices of oil.

And when oil prices goes up, then everything is going to be a domino effect which we don't like to happen. It's being harder this time compared to the old days.

But are we going to stop with that? No. We have to keep on living and moving on because we're still alive and that's why with the next years to come, there could be some more interesting retrieval and redeem that shall come.

Delete.

OP: There is no source that supports your thoughts, or rain of rebellion; the individual vision should not always be to generalize, you speak in a plural sense of a diversity of topics that are forged in the attempt to speak in the first person, but you are being a spokesperson for many situations.

Working people in any country blame their bad situation primarily on government management and then intrinsically on their ability to pay, which is obviously affected to a lesser or greater degree depending on the country of origin, but which is currently a "pandemic" ( inflation) in the working class, but even this important group in the economic strength of any country does not take the idea of cryptocurrencies as a solution.

On the other hand, their thoughts in reference to the wealth of that privileged part, the rich!, they have no problems with their purchasing power or "hated" the Fiat currency, because unlike the worker who receives and saves in Fiat, the millionaires!, They use it as a reference and their assets, although measured in Fiat currency, the majority of their wealth is not in Fiat currency.

The other things you mention are already a bit of that rambling that I mentioned in my first paragraph.

Yes, you are right about that, There is no Financial freedom by using centralized coins like USDT or even other stablecoins.
A stablecoin is a type of cryptocurrency created to offer price stability reserved based on Fiat Currencies.
But it's centralized and not really decentralized like Bitcoin.

Seeing many Altcoins that use POS such as ETH which moved to POS to become semi-decentralized.
Unlike Bitcoin, which still uses POW and it is completely Decentralized.

It's a political deadlock and EU cannot openly buy cheap oil from Russia due to Ukraine war and though they are getting the same oil at a slightly higher price via India, India is purchasing oil from Russia at subsidized price and selling it to EU and other nations with a profit.

Rich and wealthy are the government and they won't lose, you will not see rich and wealthier losing their wealth due to inflation or some hike, infact they become more richer because they run the show .



How did you even arrive at this conclusion that Muslims are supporting Russia? When Russia has destroyed muslim nation Syria by siding with dictator and changed the tide? On the other hand Muslims from Syria and Chechnya are fighting alongside Ukraine to avenge the Russian involvement in their internal affairs and installing a puppet in Chechnya and crushing the revolt in Syria?


Don't consider USDT as a crypto currency as there has been so many conflicting news about them and Tether can fall anytime as they are yet to prove that they hold the reserve equals to the supply and they are publishing their own audit report to fool people wherein it should be done through a 3rd party. Only Bitcoin is safe.

There has never been any indication of Muslims supporting Russia or even liking Russia for that matter. So you need to provide better reasons for your claims here.

You won't get any kind of freedom by using centralized coins such as USDT and majority of altcoins. Only bitcoin is the viable option.

There is an economic crisis but it is nowhere near the levels that would lead people to abandon the centralized monetary system and move to cryptocurrencies. Something like 2008 crisis has to happen first. Besides, cryptocurrencies have their own issues too.
We have centralized altcoins that are worse than centralized fiat.
We have loads of shitcoins that are useless.
We have bitcoin that is too volatile for people to do a full migration from fiat to bitcoin now.

Fiat has given the government so much power over its citizens, that they manipulate the hard work of people with inflation, which can be as another form of paying taxes. Because it doesn't add in any way to the economy of the nation. That's why the government is against bitcoin and tries its best to control the whole bitcoin transactions. Do you wonder why people still respect the government, despite the troubles it inflicts on the world, using fiat? Purchasing weapons, building bioweapons, and destroying life and cities, to curtail their freedom and to prove superiority to an opposing side. Not every human can hate or distrust the government. They get paid and managed by the government. Moving away from the authorities and commands of the government seems like the end of the world to many citizens. The government control soldiers, banks, schools, and even religious organization to convince citizens to think that their brain is deeply rooted in capitalism. Cryptocurrency is more attributed to libertarians who wish to escape from the super-powerful control the government uses fiat in controlling the world.

The journey will only get difficult if the rich begin to lose their wealth, as they'll have a high rate of unemployment. Which still serves as a tool for the government to manipulate the mental health of citizens. Channeling their thoughts in the direction of taking loans and depending on government grants for survival. One funny thing, once people depend on those grants, they won't be forthcoming, endangering the lives of people. Then the working class serves as collateral damage for the damages the government is causing using inflation. After saving up a huge amount of money for years, you won't be able to purchase your dream house or car because the price just went high, and the value of the saved money reduced drastically, with no interest. Don't know much about the improvement of the compound interest in banks, yet it doesn't help the working class, due to the theft the government is achieving in the name of inflation. We all accept whatever they say because the brain is almost configured from scratch to obey the authorities.

Hence, if the whole world goes to become libertarian, the government won't have much say in society. However, the only tool for achieving such a goal, bitcoin, has been fought tooth and nail by the government. Although not completely, just a few crypto services accept the KYC terms of the government, and the emplacement of taxes on bitcoin transactions in some countries. It's quite impossible to regulate bitcoin, yet the government is not stopping in its fight to bring bad publicity to bitcoin and ban the currency. I suspect their moves of adopting the technology, as a ploy of understanding or working to figure out a method of destabilizing the technology to their favor. However, their plans won't work, Satoshi thought it all through before releasing bitcoin. They would fear that bitcoin users won't fall for their wickedness and the manipulations they impose on the world using fiat inflation. Aside from the economic aspect in terms of money. The world still suffers for the pains war brings to us, whether as a libertarian or a capitalist.

All the bad news and central bank decision to hit people with rate hikes in their hardest time.
Like you can't make mortgage payments so high If people have hard times.
If you want to earn learn how to take little bit bit by bit and let the skin will grow back.
And other things since even the western people who use to support Western so called freedom and capitalism now maybe not.
The bad economic times now can change even the minds of gaza Israel and in Europe the riots are only starting becouse all the bad things Will mix up.

For Europe is only solution. Stop war build back the gas pipelines and cheap oil from russia and food to people.
On going gaza Israel situation is not good either.

Problem is not that only poor people suffering now the problem is that rich and wealthy ones start losing their wealth and that's when goverments have problem

Also the big population of muslems in eu they will try to force everybody to support russia becouse they will bring out to daylight all the Western problems

And a lot people hate now Fiat currency the fiat has become obsolote and many people will openly welcome crypto and USDT to get freedom on their Hands.
I choose crypto Also becouse i have more cryptocurrency then fiat currey...If i would have more Fiat currency i would choose Fiat so i go with crypto.
Banks specially in Europe not safe long time Ago their online Banks often lagg not working and many problems but bitcoin and stablecoins always works and people Understood this now.
Fiat currency can not survive If fiat don't serve people.
I have friend who build houses now he try to sell but prices low... So lost money by investing and not small money and he have to pay to builders.

So central Banks on europe should Hand out asap some funds If they want people to support fiat currency becouse now Even the rich people start losing