Topic: Why is Bitcoin still a slave of Fiat? - page 17. (Read 13984 times)
There are few things in which bitcoin can never replace fiat. Like paying loans and interests to the bank many basic things like buying stuff from grocerry, buying vegetable from the market and I don't see that these people would ever accept bitcoin as a mode of payment so bitcoin will always be slave to fiat.
Bitcoin is a slave of fiat and it will be the same in near future too till the people start using bitcoins and adopt it as a currency for making payments many countries don't know what bitcoin is all about and thats an issue with bitcoin bitcoin is not that popular in many countries as fiat is.
As Fiat is the traditional currency so people trust it more in comparison to bitcoin. There are many who haven't about the bitcoin yet so how can we expect that they start adopting bitcoin as a currency and people generally believe in paying cash rather then going for a virtual currency as a mode of payment.
Yup thats true if you look at the scenario in the developing countries no one is aware about the bitcoin and once they get into the bitcoins then the scene would not be the same as we are going through right now there are many people who still hesitate in using credit cards they prefer cash to pay.
As Fiat is the traditional currency so people trust it more in comparison to bitcoin. There are many who haven't about the bitcoin yet so how can we expect that they start adopting bitcoin as a currency and people generally believe in paying cash rather then going for a virtual currency as a mode of payment.
this whole slave to fiat though is a joke.
okay, lets just say we go with this route, what do we replace with fiat? people do not want to barter 24/7. also thats a ton of cash already in the system so how do you tell everyone without screwing everyone over.
okay, lets just say we go with this route, what do we replace with fiat? people do not want to barter 24/7. also thats a ton of cash already in the system so how do you tell everyone without screwing everyone over.
you don't need to barter if there was only bitcoin as a currency, you will learn slowly to give to bitcoin the correct value even without fiat in circulation, like it was for europeans when they started to learn how to spend euro
see it as this example of the euro, i think it is suited perfectly
Bitcoin is still the minority's game. It is not recognized by the masses yet! So it has to be attached to fiat money to gain value otherwise it is worthless.
I tend to disagree, value is standing still since most are holding the coin.
IF it drops it only means more people are will to let go of the coin, its a simple supply and demand.
this whole slave to fiat though is a joke.
okay, lets just say we go with this route, what do we replace with fiat? people do not want to barter 24/7. also thats a ton of cash already in the system so how do you tell everyone without screwing everyone over.
okay, lets just say we go with this route, what do we replace with fiat? people do not want to barter 24/7. also thats a ton of cash already in the system so how do you tell everyone without screwing everyone over.
The game changer will be being able to pay bills with BTC, once we get there then that would mean we aren't a fiat slave, until then we need fiat, ofc we also need jobs being paid in BTC directly.
we can do that already there are service that allow this, dunno about the regulation, but it is possible
here some
https://www.cashila.com/
https://www.bitbill.eu/
https://bitwa.la/
This seem still very primitive. Also I would like service provider companies like electricity etc, to accept directly BTC without no fiat conversion weird stuff happening in between. I want companies that exclusively only accept BTC, and I cant find none for basic services.
you are asking too much, we are still too far away for it to happen, and probably will never happen, every company need to make the user more confortable and put all the famous available payments in the world
what you are asking could become true only if fiat collapse...
Im still not sure about a dollar collapse. Yes every fiat currency is eventually replaced:either by another fiat currency or gold and silver. The economy will crash, as it does every business cycle, but the dollar may not collapse. Not without nuclear war, EMP, or Yellowstone blowing its top and bottom.
The dollar is in demand because it is simply the best looking horse in the glue factory.
The next collapse will be global. And yes, the dollar will go down with every other fiat currency.
And while it may be replaced with yet another (possibly global) fiat currency, what will those dollars be worth to those holding them.
Just because the global elite have their wealth in dollar denominated assets now means nothing. Those assets will just be denominated by some other standard of value.
Dollars and U.S. Government debt instruments are supposed to be backed by the full faith and credit of the United States. And just exactly WHAT will that be worth when the economy implodes?
Just because the global elite have their wealth in dollar denominated assets now means nothing. Those assets will just be denominated by some other standard of value.
Dollars and U.S. Government debt instruments are supposed to be backed by the full faith and credit of the United States. And just exactly WHAT will that be worth when the economy implodes?
Dollars and U.S. Government debt instruments are supposed to be backed by the full faith and credit of the United States. And just exactly WHAT will that be worth when the economy implodes?
Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
I guess it happens simply because of poor spreading of bitcoin throughout the world
The whole world is a slave to fiat, hopefully one day it changes and we can escape the clutches of the bankers control.
The game changer will be being able to pay bills with BTC, once we get there then that would mean we aren't a fiat slave, until then we need fiat, ofc we also need jobs being paid in BTC directly.
we can do that already there are service that allow this, dunno about the regulation, but it is possible
here some
https://www.cashila.com/
https://www.bitbill.eu/
https://bitwa.la/
This seem still very primitive. Also I would like service provider companies like electricity etc, to accept directly BTC without no fiat conversion weird stuff happening in between. I want companies that exclusively only accept BTC, and I cant find none for basic services.
you are asking too much, we are still too far away for it to happen, and probably will never happen, every company need to make the user more confortable and put all the famous available payments in the world
what you are asking could become true only if fiat collapse...
Im still not sure about a dollar collapse. Yes every fiat currency is eventually replaced:either by another fiat currency or gold and silver. The economy will crash, as it does every business cycle, but the dollar may not collapse. Not without nuclear war, EMP, or Yellowstone blowing its top and bottom.
The dollar is in demand because it is simply the best looking horse in the glue factory.
The next collapse will be global. And yes, the dollar will go down with every other fiat currency.
And while it may be replaced with yet another (possibly global) fiat currency, what will those dollars be worth to those holding them.
Many ppl think bitcoin is virtual internet worthless money! The POW is just wasting energy. So it will never compete with fiat in the future.
The game changer will be being able to pay bills with BTC, once we get there then that would mean we aren't a fiat slave, until then we need fiat, ofc we also need jobs being paid in BTC directly.
we can do that already there are service that allow this, dunno about the regulation, but it is possible
here some
https://www.cashila.com/
https://www.bitbill.eu/
https://bitwa.la/
This seem still very primitive. Also I would like service provider companies like electricity etc, to accept directly BTC without no fiat conversion weird stuff happening in between. I want companies that exclusively only accept BTC, and I cant find none for basic services.
you are asking too much, we are still too far away for it to happen, and probably will never happen, every company need to make the user more confortable and put all the famous available payments in the world
what you are asking could become true only if fiat collapse...
Im still not sure about a dollar collapse. Yes every fiat currency is eventually replaced:either by another fiat currency or gold and silver. The economy will crash, as it does every business cycle, but the dollar may not collapse. Not without nuclear war, EMP, or Yellowstone blowing its top and bottom.
Bitcoin is still the minority's game. It is not recognized by the masses yet! So it has to be attached to fiat money to gain value otherwise it is worthless.
The game changer will be being able to pay bills with BTC, once we get there then that would mean we aren't a fiat slave, until then we need fiat, ofc we also need jobs being paid in BTC directly.
we can do that already there are service that allow this, dunno about the regulation, but it is possible
here some
https://www.cashila.com/
https://www.bitbill.eu/
https://bitwa.la/
This seem still very primitive. Also I would like service provider companies like electricity etc, to accept directly BTC without no fiat conversion weird stuff happening in between. I want companies that exclusively only accept BTC, and I cant find none for basic services.
you are asking too much, we are still too far away for it to happen, and probably will never happen, every company need to make the user more confortable and put all the famous available payments in the world
what you are asking could become true only if fiat collapse...
The game changer will be being able to pay bills with BTC, once we get there then that would mean we aren't a fiat slave, until then we need fiat, ofc we also need jobs being paid in BTC directly.
we can do that already there are service that allow this, dunno about the regulation, but it is possible
here some
https://www.cashila.com/
https://www.bitbill.eu/
https://bitwa.la/
This seem still very primitive. Also I would like service provider companies like electricity etc, to accept directly BTC without no fiat conversion weird stuff happening in between. I want companies that exclusively only accept BTC, and I cant find none for basic services.
except the reason that it is not a traditional currency accepted by most of people, can the number of Bitcoin be one of the reasons?
The world wasn't built around fiat.
Money is literally the lifeblood of the human world, it's what makes everything you see around you possible. It really shouldn't be too hard to see the analogy between the human body and the human world as a whole. Blood needs to flow into every tiniest part of the body lest it withers and dies, the human body has been built around veins, arteries and capillaries.
Blood is what keeps the different parts of the body alive and functioning properly. Money is what keeps the different parts of the human world (man-made world) alive and functioning properly. Just imagine all the money of everyone in your city gone. While the subtleties of such a scenario are likely to elude even the brightest minds, it should conjure up enough logical connections for you to reconsider your assertion (highlighted above).
Bitcoin will be a slave to fiat as long as it is pegged to it. Can't see that changing anytime soon.
It's possible but very difficult. You could also live off begging or just bartering with people but it makes your life more difficult. I respect him for his determination and dedication to bitcoin, though.
Elwar (I think its the username) is making a great job at demonstrating you can already love off BTC only even if we are at still the primitive stages of cryptocurrency, guy is a legitimate pioneer with his crypto only lifestyle.
It's possible but very difficult. You could also live off begging or just bartering with people but it makes your life more difficult. I respect him for his determination and dedication to bitcoin, though.
It's very difficult because we still on the very early days, wit time it will be easier. What I don't see is how are we going to pay bills. We need service providers (water, warm, internet, phone) accepting BTC. In my country I think this circle isn't completed.
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