True, just from a pure production cost point of view, those 3600 coins mined daily cost much more than those 2.8 billion USD created by FED every day.
You dont understand.
Dollars are backed by government's bombs , drones , tanks etc.
Topic: Why do people trust fiat money? - page 4. (Read 7473 times)
True, just from a pure production cost point of view, those 3600 coins mined daily cost much more than those 2.8 billion USD created by FED every day.
You dont understand.
Dollars are backed by government's bombs , drones , tanks etc.
I have learned more about economics and world finance from reading things on this board than I ever did in my economics class. I come to realize that people put way too much trust in fiat and that it is heavily manipulated by a handful of banks and world leaders. It is amazing how much people just blindly trust that their dollars are "safe" and that they will hold their value indefinitely without any concern at all.
Granted, I do not have much "fiat" to worry about, compared to many people, but in a way that is empowering. Sometimes we can feel like we have so little in comparison. The reality is that those with "much" fiat may (in the long run) have less than those of us with a "little" bitcoin.
Of course, that waits to be seen. But it is fun to think about anyways.
Granted, I do not have much "fiat" to worry about, compared to many people, but in a way that is empowering. Sometimes we can feel like we have so little in comparison. The reality is that those with "much" fiat may (in the long run) have less than those of us with a "little" bitcoin.
Of course, that waits to be seen. But it is fun to think about anyways.True, just from a pure production cost point of view, those 3600 coins mined daily cost much more than those 2.8 billion USD created by FED every day. So if these two currencies are used widely, then through a side by side comparison, either each coin should worth at least 78K USD, or each new dollar only worth less than 0.0002 of a real dollar (In fact they heavily dilute the existing dollar's worth)
I have learned more about economics and world finance from reading things on this board than I ever did in my economics class. I come to realize that people put way too much trust in fiat and that it is heavily manipulated by a handful of banks and world leaders. It is amazing how much people just blindly trust that their dollars are "safe" and that they will hold their value indefinitely without any concern at all.
Granted, I do not have much "fiat" to worry about, compared to many people, but in a way that is empowering. Sometimes we can feel like we have so little in comparison. The reality is that those with "much" fiat may (in the long run) have less than those of us with a "little" bitcoin. Of course, that waits to be seen. But it is fun to think about anyways.
Granted, I do not have much "fiat" to worry about, compared to many people, but in a way that is empowering. Sometimes we can feel like we have so little in comparison. The reality is that those with "much" fiat may (in the long run) have less than those of us with a "little" bitcoin.
Of course, that waits to be seen. But it is fun to think about anyways. Most people know how fiat money works, but very few know how fiat money really works. That is why they trust it.
And this: a lot of bitcoiners *think* they know how fiat money works, except they don't. They're just a bunch of fucking loonies and conspiracy theorists who think they're on to something. Smarter people get their hands on a lot of fiat money, with which you can still buy bitcoin last time I checked. Works better than the other way around.
Can't argue with that. Reminds me of my wife.
Most people know how fiat money works, but very few know how fiat money really works. That is why they trust it.
And this: a lot of bitcoiners *think* they know how fiat money works, except they don't. They're just a bunch of fucking loonies and conspiracy theorists who think they're on to something. Smarter people get their hands on a lot of fiat money, with which you can still buy bitcoin last time I checked. Works better than the other way around.
Currently I trust that fiat money is good for a few weeks or months at least. Which is more than BTC now 
Most people know how fiat money works, but very few know how fiat money really works. That is why they trust it.
This comment gets right to the heart of the matter. Thumbs up!
Most people know how fiat money works, but very few know how fiat money really works. That is why they trust it.
It's sort of like when you were a kid, and you were afraid to look under the bed, because you thought there was a monster there. Only in fiat money's case, there IS a monstor...
This grown up only looked 3 years ago and found a mess under the bed and an infectious mould taking over the house.
Time for a spring cleaning.
It's sort of like when you were a kid, and you were afraid to look under the bed, because you thought there was a monster there. Only in fiat money's case, there IS a monstor...
It doesn't have value? Then send me all of yours, since it is clearly worthless.
Fiat money used to be backed by gold, but now it is backed by nothing, no one has noticed the difference, because they only care about making more money, they don't even care where are money coming from
Value is a consensus, if everyone believe that fiat money have value, it will have value. It is difficult to change majority of people's belief in one night, but sooner or later they will realize it. No one teach you in school where money is coming from, because this is the biggest scam ever
Most grownups know how fiat money works. The reason they are not constantly talking about its shortcomings? It's the same reason they're not constantly preaching the fictitiousness of Equestria, Santa, and Easter Bunny -- it's not really news, at least to the grownups.
Believe me, there is almost no such grownups. For 10 years, I asked the same question to many people aging from 20 to 90, only one old guy with an age of 85 knows part of the picture, but he said it is too late to change all that
It doesn't have value? Then send me all of yours, since it is clearly worthless.
Fiat money used to be backed by gold, but now it is backed by nothing, no one has noticed the difference, because they only care about making more money, they don't even care where are money coming from
Value is a consensus, if everyone believe that fiat money have value, it will have value. It is difficult to change majority of people's belief in one night, but sooner or later they will realize it. No one teach you in school where money is coming from, because this is the biggest scam ever
Most grownups know how fiat money works. The reason they are not constantly talking about its shortcomings? It's the same reason they're not constantly preaching the fictitiousness of Equestria, Santa, and Easter Bunny -- it's not really news, at least to the grownups.
It doesn't have value? Then send me all of yours, since it is clearly worthless.
Fiat money used to be backed by gold, but now it is backed by nothing, no one has noticed the difference, because they only care about making more money, they don't even care where are money coming from
Value is a consensus, if everyone believe that fiat money have value, it will have value. It is difficult to change majority of people's belief in one night, but sooner or later they will realize it. No one teach you in school where money is coming from, because this is the biggest scam ever
It doesn't have value? Then send me all of yours, since it is clearly worthless.
In time, and you will be billed for shipping.
Because, it loses value very slowly and predictably on its own and, as long as you keep it invested, supporting efforts to increase the efficiency of the economy, it earns value long-term.
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
Fiat money does not have any value, it is just a unit of counting, and was created out of nothing. But the reason it still hold some value is because that all the people's salary/income are all paid with fiat, which is borrowed from banks to its root
Employees earn fiat money through working, but for big employers, they borrow money from banks and give them out as salary (and earn them back through spending of employees)
The man who get rich with absolutely no effort are federal reserve bankers, they create and claim the ownership of every fiat money
Bitcoin will let people get rich with little effort, but there are two main differences: First, you have to accumulate enough coins, so you have to mine or exchange your work/valuable assets for bitcoin, you can not create it out of nothing like central bankers. Second, everyone can do the same, it is a fair play
Just like a pension fund, you first invest your labor/assets in bitcoin for some years, and then enjoy the return
It doesn't have value? Then send me all of yours, since it is clearly worthless.
Because, it loses value very slowly and predictably on its own and, as long as you keep it invested, supporting efforts to increase the efficiency of the economy, it earns value long-term.
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
Fiat money does not have any value, it is just a unit of counting, and was created out of nothing. But the reason it still hold some value is because that all the people's salary/income are all paid with fiat, which is borrowed from banks to its root
Employees earn fiat money through working, but for big employers, they borrow money from banks and give them out as salary (and earn them back through spending of employees)
The man who get rich with absolutely no effort are federal reserve bankers, they create and claim the ownership of every fiat money
Bitcoin will let people get rich with little effort, but there are two main differences: First, you have to accumulate enough coins, so you have to mine or exchange your work/valuable assets for bitcoin, you can not create it out of nothing like central bankers. Second, everyone can do the same, it is a fair play
Just like a pension fund, you first invest your labor/assets in bitcoin for some years, and then enjoy the return
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
There is no such thing as a free lunch. Those who invest in XBT are contributing they are ironing out the bumps in volatility and risk they are pioneers.
There is no guarantee you will get rich.
I'd say those who save in fiat are enabling bankers to get rich with absolutely no contribution to society.
Because, it loses value very slowly and predictably on its own and, as long as you keep it invested, supporting efforts to increase the efficiency of the economy, it earns value long-term.
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
However, if you want to get rich with absolutely no effort from you to contribute to other people's lives, then obviously Bitcoin is your thing.
Because I read a comment of an "informed person" that approximately said:
those Ponzi guys want to make free money! Now people can make FREE MONEY! FREE MONEY! I used to work for my money ._.
as long as random "informed" people will think so...
When they'll try to limit Bitcoins (in USA, with regulations) I assure you that for mass media we will be the bed guys.
those Ponzi guys want to make free money! Now people can make FREE MONEY! FREE MONEY! I used to work for my money ._.
as long as random "informed" people will think so...
When they'll try to limit Bitcoins (in USA, with regulations) I assure you that for mass media we will be the bed guys.
Why do Christians fear God?
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