Topic: The old fiat days are behind us! - page 3. (Read 399 times)

Are you saying GOLD is obsolete? That women no longer want gold? I think you should go to India, and/or China, where most of the world he that have gold is king.

Only in the USA, or the west are people so poor and dumbed down, that they think that paper-money is wealth, or intangible numbers on a computer screen.

Like you said 'transportation' changes, but GOLD is not transportation, it is a store of value.

BITCOIN is not a store of value, in the future, now that CHINA owns BITCOIN, they'll do as they wish, and nobody is going to stay on the train.

FIAT is not new, 2,000 years ago the Chinese dabbled in paper-money and quit, they went back  to gold. In the 1600's the west discovered paper money, and everywhere it was used, the country's were bankrupted, the USA has been bankrupted 3 times since 1776, but they don't teach you this in school.

Yes, today the US-DOLLAR is shit, but gold is not shit. GOLD has never been shit in all human history.

BITCOIN and all crypto are shit, because they are backed by bullshit liars.

The USA-FIAT system the US-DOLLAR is backed by MURDER, refuse to sell Cocaine in dollars, they took out the kingpin, refuse to use US-dollars in Libya, they took out an elected leader, in Iraq Saddam wanted also to sell his oil in Euro's, he was murdered, and his country destroyed. Refuse to sell Opium in US dollars, they destroyed Afghanistan. CIA destroyed IRAN some 50+ years ago over this same topic, they had the gull to not want to sell their oil, for worthless toilet paper ( USD ).

Yes, the USD is shit, because it is backed by assholes and killers, but what is BITCOIN backed by? Criminals, scammers, liars, and fools. This is why USD will continue to beat BITCOIN, because to date nobody in the BITCOIN community has made a 'call to arms'.

For some 100,000 years the "Golden Rule" of the earth has been, "He that have the Gold makes the Rules"; This is why China&Russia  own most of the Gold, and why the USA has gone full-retard.

I kinda doubt that fiat money will be totally replaced like with your examples. Fiat and bitcoin can coexist, and it will completely be depending on the person what currency he/she prefers to transact with, and which asset(including other assets outside fiat/crypto) he/she prefers to hold his/her wealth in.

I think it's a bad analogy since fiat has never made gold and silver obsolete. Maybe less used as a currency, but definitely not obsolete. I believe fiat will not be obsolete either, it's just going to turn into a digital version of it instead. Digital fiat will be a thing and will be more used than crypto imo. That's how I see it.

Until you can pay your Federal taxes in Bitcoin, fiat can not be behind us.

Bitcoin is impressive technology and I love seeing people use it, but we are very very very far away from it being able to function as a currency in a global capacity, let alone a complete replacement for fiat.

When someone says, "but the performance of gold as an asset lasts 5,000 years"

You might be able to point out: "And then the arrival of the railroad, together with the horseless carriage, rendered the animals as transport obsolete."

Basically, computers, the web, mobile phones, and the internet are all expanded, improved versions of existing technologies. upgrading technology and techniques, actively doing something completely different for thousands of years. So, the future of currency (which is crypto) is here!