Topic: The fiat-money bubble! - page 2. (Read 3502 times)

Hello everyone.

There is much discussion around the price of bitcoins. Some seem to believe it could fly to a million, while some believe its just a big speculation bubble ready to burst.

My personal theory is that cryptocurrency is not the bubble, but rather the needle that will burst the fiat money bubble. Trough history we have always had an easy way to attribute value to things without it. Those who believe that fiat money is the only true way often attribute their opinion to the fact that fiat money is substainsable because of its centralized nature and its history of being used as a represantation of value.

The fact that bitcoin was created in the aftermath of the 2008 financial crises clearly shows it's intent. I believe Satoshi saw how a centralized regulated market can't be substainable thanks to the egotistical and evil sides we humans all posses.

Decentralized currencies will IMO be the future. I can't peg bitcoin to a certain price it will reach in the future as i usually don't speculate that way, but rather i just develop a bias on a subject and try to indentify the crowds bias as this is what acctualy IS the trend.
The trend for decentralized currencies is bullish overall, with some currencies being more exciting then others. Invest in the cryptocurrency you believe in and do your homework, lets bring the fiat-money world down once and for all!!  

Please share your opinion on the subject, this is my first post and just wanted to share my thoughts, thank you =)

LazyTurtle

There is no such thing as life expectancy of fiat currencies. In the past there were many factors which contributed to shifting power to create reserve currency from country to country.
I am talking about politics, war, colonial conquers - standard history flow, where I nation suddenly claimed better position. We don't see anything like that happening right now with the USA.
True, the debt of USA is overwhelming but it is not critical yet. US industry, brands are still strong and can handle it.

If the life expectancy of fiat currencies in the past still translate to the dollar, then the dollars has its days numbered. The dollar is 97 years old, which is on the average of other fiat currencies of the past. Will it surpass 105 years? Right in 2025, the dollar will be 105 years old, so if that graph is correct, we should be seeing the fall of the dollar within the next decade, then I can see BTC skyrocketing to 6 to 7 figures a coin.

You actually believe in that what you just said over here?
I hope not, and you were just joking, because saying something like that is simply dumb.

Take a look at the current bitcoin market capitalization.
In that moment it is equal to 20,372,515,937 US dollars.
Now can you please tell me, how big might be the amount of bitcoins used by people who are doing gambling, or even those "kids" that you are saying about

Bitcoin wont fail with all that kids that gamble with it..

Fiat is the lever through which the government manages people. Therefore, this lever will always exist. And the government specifically makes conditions under which it is very difficult to obtain money. So that people do not think about the revolution, but think about work

The only problem with this view is that everything that is deemed 'money' is issued by the state.  And money that is issued by the state has the incentives built in to eventually self-destruct, since the elites get to receive unearned power and wealth by issuing too much of it

Things may change in the future

And they may change fast at that. The measures which would fix the scalability (as well as high fee) issues are already here, they just need to get implemented. Bitcoin is different from fiat, and it is a difference of kind, not of degree, and after these measures are taken, Bitcoin future adoption would only make it more fit and suitable for even wider adoption (since it is decentralized and supported by network itself). And this is where theory meets with practice, since money works better as money if it get more universal acceptance. In this sense, Bitcoin is absolute money since its adoption facilitates further adoption in a chain reaction manner making its transactions faster and cheaper

I agree "cryptocurrency is not the bubble, but rather the needle that will burst the fiat money bubble."
http://www.aljazeera.com/indepth/opinion/2012/05/20125309437931677.html
http://www.aljazeera.com/indepth/opinion/2012/04/20124395428374962.html
It's basically how I started learning about Bitcoin as well and a frame of view I have used.

The egotistical side is an interpretation but I lean towards the idea of debt and loans being the real fundamental issue that this resolves but greed is greed and it is a human attribute.

Where crypto is going and has gone since then to now I can really feel we are near mainstream usage and at the threshold I look forward to that trend continuing. Behead the fiat ^^. And Cheers

It should be pretty obvious by now that all these features don't suffice

For something to become money it should be used as money, i.e. to be accepted as a universal means of payment or account. Therefore, until Bitcoin starts being used as money (in any meaningful degree), it cannot be considered as money even if it has all the required qualities and prerequisites money should possess. So there is not a big difference between tulips and Bitcoin primarily because its monetary qualities have been mostly neglected so far

After all, what do you want to see as a replacement for fiat, do you have any suggestions? If you are wondering that bitcoin has any chance to overcome the fiat, then you are wrong. Blockchain network is not ready at all to maintain under such a massive traffic, and the another issue is that the fees currently are exceeding the reasonable amount of money spend for commison. You cannot buy some cheap things ( e.g matchsticks or cans with drinks ) because the price would increase dramatically, because of a insanely high fee payed on every transaction

Consider the fact that how many people who are using Fiat know and use bitcoins. So if all the people start using bitcoins too, we can see high demand of bitcoins and it will surely increase the price very high.

i think that is such a big big price to reach to that level but still i will like to say that still there is too much potential in the price of bitcoin, as we can see that the demand of bitcoin is continuously increasing which is making the price of bitcoin to increase more and more.

i think that is such a big big price to reach to that level but still i will like to say that still there is too much potential in the price of bitcoin, as we can see that the demand of bitcoin is continuously increasing which is making the price of bitcoin to increase more and more.

i think that is such a big big price to reach to that level but still i will like to say that still there is too much potential in the price of bitcoin, as we can see that the demand of bitcoin is continuously increasing which is making the price of bitcoin to increase more and more.