Post
Topic
Board Economics
Re: Do you Still believe in Fiat?
by
deisik
on 24/02/2017, 10:14:25 UTC

Of course I believe in fiat. I use it daily and so does everybody else. However, I do not believe in the people/institutions that control fiat. It was a lot better when fiat was tied to gold reserves. Now we just create money out of thin air, which will have severe consequences in future.

There's no reason not to believe it's already part of our daily lives and without fiat we can't get the things that we need with our daily living. But the good thing here is that we also have another option and help from bitcoin so at the same time we have chance to use these two types of currency freely.
Fiat has been a big help in the society and in the economy, it makes the life easier in a way that is  has been our medium of exchange in many things.
So, let us know all forget that, we've been benefited its usage, and I don't think that no one is using fiat nowadays. Although, bitcoin is booming now still fiat exists in many ways.

The job of bitcoin is to make our life easier when it comes to transaction but without fiat bitcoin is not going to exist. It's all a credit to fiat and without fiat how can bitcoin work, so it's really a must that we need to believe in fiat since we are using it. Out of bitcoins pump still we don't have a choice but to keep on going with fiat

Right now Bitcoin wouldn't be very usable overall if all fiat money has disappeared this morning

But not because Bitcoin is somehow inferior to fiat (which is what you seem to implicitly assume) since it is not. There are some issues due to its limited supply but this is obviously not what you refer to here. Bitcoin is not currently usable primarily because it simply cannot be supported if its adoption is to increase to the size of fiat economy. Nevertheless, these are still technical issues which can be and should be fixed in the future, and not because Bitcoin is going to substitute fiat tomorrow but just to keep it up to date