Topic: Why are people so enslaved of fiat money? (Read 137 times)
I think paper money time is comming to an end. It's hard to track people when they use cash.
The point if you give them any value or not. Fiat money was agreed to be accepted as an exchange value. Sooner or later cryptocurrencies can replace them.
Fiat money contains in itself the value which you think the goods u are a desire to have had.
Before fiat money, it was a bit different. The point in the exchange. The exchange has a value.
Before fiat money, it was a bit different. The point in the exchange. The exchange has a value.
There just never was anything better until now! People have also gotten forced into debt 
Because it's easier for them to understand fiat money
It is without a doubt that we are still at the moment dependent on fiat currency, however what is given emphasis is the FACT that fiat currency can no longer represent Stored Value. Think about all those money inside the bank that generates inferior interest compared to inflation.
The glaring truth is that fiat money is controlled by the government or who knows who?
In cryptocurrency the profound idea that it is decentralize has also given back the power to the masses by affecting the price/value of any given cryptocurrency via what is now known as Adoption Rate.
The glaring truth is that fiat money is controlled by the government or who knows who?
In cryptocurrency the profound idea that it is decentralize has also given back the power to the masses by affecting the price/value of any given cryptocurrency via what is now known as Adoption Rate.
Fiat currency not even currency it is debt instrument and not only don't have value it has debt in it, have negative value, anyone holding it is in debt, BTC frees the people from debt associate with the fiat currency, therefore there is intrinsic value of it, it is a honest money accounting instrument
Not sure I understand the question really. The answer is obvious, people need it to survive, even in countries where inflation has devalued the currency to the point of oblivion. It is far too early to be touting cryptocurrencies as the solution, that is (10/50/100?) years away before they will (maybe?) have made an impact on a global level. We are still in the embryonic stage, and till a majority of the world's population can use it for their day to day living, we will be using fiat currencies. Point in case, I had never even heard of the phrase 'fiat currency' until I started getting involved in cryptocurrency, it was cold hard cash.
I don't think I'll see a world with no fiat currencies in my lifetime, although at the increasing pace technology progresses, I could be wrong. Who knows, in 20 years, another idea could come along, where currency is decided based on a person's weight/height, and they get allocated a certain amount for food per week, enough to survive. Houses could all be allocated exactly according to how many people live there, so there would be no housing shortages. There are any number of ways the world could move, even in my restricted imagination, just think where the geniuses could take us.
Edit.
Hahaha, I just read the last bit of your post, didn't realise the whole thing was an advert for another cryptocurrency. Ah well, my point still stands.
I don't think I'll see a world with no fiat currencies in my lifetime, although at the increasing pace technology progresses, I could be wrong. Who knows, in 20 years, another idea could come along, where currency is decided based on a person's weight/height, and they get allocated a certain amount for food per week, enough to survive. Houses could all be allocated exactly according to how many people live there, so there would be no housing shortages. There are any number of ways the world could move, even in my restricted imagination, just think where the geniuses could take us.
Edit.
Hahaha, I just read the last bit of your post, didn't realise the whole thing was an advert for another cryptocurrency. Ah well, my point still stands.
hahaha Thank you for responding and observing
You might also want to know the universal basic income by elon musk, he stated that when AI take over all the people's task a universal basic income might come to existence.
Also try to watch the movie "Ready Player One".
Not sure I understand the question really. The answer is obvious, people need it to survive, even in countries where inflation has devalued the currency to the point of oblivion. It is far too early to be touting cryptocurrencies as the solution, that is (10/50/100?) years away before they will (maybe?) have made an impact on a global level. We are still in the embryonic stage, and till a majority of the world's population can use it for their day to day living, we will be using fiat currencies. Point in case, I had never even heard of the phrase 'fiat currency' until I started getting involved in cryptocurrency, it was cold hard cash.
I don't think I'll see a world with no fiat currencies in my lifetime, although at the increasing pace technology progresses, I could be wrong. Who knows, in 20 years, another idea could come along, where currency is decided based on a person's weight/height, and they get allocated a certain amount for food per week, enough to survive. Houses could all be allocated exactly according to how many people live there, so there would be no housing shortages. There are any number of ways the world could move, even in my restricted imagination, just think where the geniuses could take us.
Edit.
Hahaha, I just read the last bit of your post, didn't realise the whole thing was an advert for another cryptocurrency. Ah well, my point still stands.
I don't think I'll see a world with no fiat currencies in my lifetime, although at the increasing pace technology progresses, I could be wrong. Who knows, in 20 years, another idea could come along, where currency is decided based on a person's weight/height, and they get allocated a certain amount for food per week, enough to survive. Houses could all be allocated exactly according to how many people live there, so there would be no housing shortages. There are any number of ways the world could move, even in my restricted imagination, just think where the geniuses could take us.
Edit.
Hahaha, I just read the last bit of your post, didn't realise the whole thing was an advert for another cryptocurrency. Ah well, my point still stands.
Lots of people can invest in using crypto Currency, why do you think crypto suddenly got big in the news. Everyone is a member.
because they are embedded in their hearts and souls, that money is everything that will give them everything they want. even they are willing to defend the wrong group and blame the right group for money. because humans are competing to find. wealth, position and woman. except those who remember the hereafter .
All these papers are just an illusion, a void. You have to be able to look through them and see this beautiful world.
What do you mean with TRUE VALUE? Are you referring to intrinsic value? Does bitcoin have any true value?
Fiat money have one thing, trust. People trust the government until they don't.
With that said I think that the discussion of true value and/or intrinsic value is the wrong way to look at it. We could learn a thing or two from the Austrians and look at value as subjective and consider free money.
Fiat money have one thing, trust. People trust the government until they don't.
With that said I think that the discussion of true value and/or intrinsic value is the wrong way to look at it. We could learn a thing or two from the Austrians and look at value as subjective and consider free money.
I dont know if there will be other alternative to sustain life aside from fiat. Maybe cryptocurrency but with out fiat from whom we derive or base the value of crypto, crypto would have been no value. This is not actually enslaving onself for fiat, it is enslaving onself to survive. This is how i call it.
With fiat money, you can buy every things. With crypto currency, rarely things you can buy
If you just open your eyes bro you'll see that paper money will soon end
With fiat money, you can buy every things. With crypto currency, rarely things you can buy
Why are people so enslaved of fiat money?
The only one true answer is that it can be made use to BUY wants and needs.
Is there TRUE VALUE in fiat money?
The only value of money is that it was given institutional representation as a medium of exchange by the government. Without this, fiat money has no TRUE VALUE.
Does it retain its appointed value?
Over the course of the century fiat Money displayed a very weak formula, it is based on DEBT, and INFLATION affects its purchasing power.
Is it a good asset to hold?
Stored value in fiat money is a bad financial strategy, fiat money loses its purchasing power year after year due to inflation.
To wit:
1. Economic crash U.S. 2008- also referred to as the downfall of wall-street.
2. ZIMBABWE
3. Venezuela- 13,000% inflation rate, bigger than the great depression of the U.S.
4. India
And too many more to mention.
What is fiat money’s biggest FLAW?
It is controlled by a central government and if it implements any wrong decision, strategy, forecast, and fiscal policies it contribute to its fast DECLINING VALUE.
How can this be solved?
DECENTRALIZATION, giving back the power to influence the value of something to the holders, users, the masses, the PEOPLE.
How can this be possible?
Using a superior technology called the BLOCKCHAIN where accounting ledger is distributed, where SMART CONTRACTS are enforce, it is FREE FROM ANY HUMAN INTERVENTION, hence IMMUTABLE and impervious from error. This is the nature of a TRUE CRYPTOCURRENCY.
What is the appreciating forecast of CRYPTOCURRENCY?
According to ICOSTAT 40 of the cryptocurrency that went ICO had a whooping 6700% appreciation.
To put this in perspective that means it will take one person to trade in the stock market 957 years to equal this kind of return!
BUT CAN I USE CRYPTOCURRENCY TO BUY ANYTHING?
Introducing CYBMALL where your cryptocurrency is its MEDIUM OF EXCHANGE to buy anything, anytime, anywhere!
#Glodcoin|#Cybmall
The only one true answer is that it can be made use to BUY wants and needs.
Is there TRUE VALUE in fiat money?
The only value of money is that it was given institutional representation as a medium of exchange by the government. Without this, fiat money has no TRUE VALUE.
Does it retain its appointed value?
Over the course of the century fiat Money displayed a very weak formula, it is based on DEBT, and INFLATION affects its purchasing power.
Is it a good asset to hold?
Stored value in fiat money is a bad financial strategy, fiat money loses its purchasing power year after year due to inflation.
To wit:
1. Economic crash U.S. 2008- also referred to as the downfall of wall-street.
2. ZIMBABWE
3. Venezuela- 13,000% inflation rate, bigger than the great depression of the U.S.
4. India
And too many more to mention.
What is fiat money’s biggest FLAW?
It is controlled by a central government and if it implements any wrong decision, strategy, forecast, and fiscal policies it contribute to its fast DECLINING VALUE.
How can this be solved?
DECENTRALIZATION, giving back the power to influence the value of something to the holders, users, the masses, the PEOPLE.
How can this be possible?
Using a superior technology called the BLOCKCHAIN where accounting ledger is distributed, where SMART CONTRACTS are enforce, it is FREE FROM ANY HUMAN INTERVENTION, hence IMMUTABLE and impervious from error. This is the nature of a TRUE CRYPTOCURRENCY.
What is the appreciating forecast of CRYPTOCURRENCY?
According to ICOSTAT 40 of the cryptocurrency that went ICO had a whooping 6700% appreciation.
To put this in perspective that means it will take one person to trade in the stock market 957 years to equal this kind of return!
BUT CAN I USE CRYPTOCURRENCY TO BUY ANYTHING?
Introducing CYBMALL where your cryptocurrency is its MEDIUM OF EXCHANGE to buy anything, anytime, anywhere!
#Glodcoin|#Cybmall
| GLODCOIN | ▐ ▌ ▐ ▌ ▐ ▌ |
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