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Topic
Board Beginners & Help
Re: if fiat money is bad, we could escape them easily even before bitcoin
by
mechanikalk
on 28/04/2013, 02:43:58 UTC

Bitcoin is invented to replace fiat money, but if people don't trust fiat money, they don't have to wait for the invention of bitcoin to start replacing it. Thus:

Not true: The popularity of bitcoin is because: People distrust fit money always, now they finally have a tool to fight fiat money.

Perhaps true: The popularity of bitcoin is because: people speculate without knowing fiat money is a bad thing. Some others think they are fighting fiat money and sing praise of them.

I don't think that people have previously had a choice when it has come to money.  The best options were gold and silver but you could not actually trade it in daily life. For example see http://www.duffminster.com/times/node/255">this article about the liberty dollar which the US attorney made the following comment "Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism," U.S. Attorney Anne Tompkins said in a statement.  Therefore, we have not previously had the tools because the government knows that with its current degree of inefficiency and socialistic policies very few of the tax paying public would pay taxes if it could be avoided without punishment.  The only reason Bitcoin or any of the cryptos have lasted this long is the government hasn't found a way to stop it.