Re: Fiat Currency Always Fails

I think fiat money value differ in every state since economic stability and government protocol differs as well including cultural values which is also another factor that affects economy. In my country fiat money does not always fails but like cryptocurrency it does increases and sometimes decreases too. However, the flactuation rate is not as high as bitcoin.

It might slightly differ per country, but the general picture is still the same. It's nothing more than a system that's based on debt and continuous creation of more fiat that's overflowing the economy with long term consequences.

The fluctuations of fiat currencies might not be as severe when you compare them in a direct face to face manner, but if you look further, fiat currencies experience crazy volatility as well, but no one talks about it.

I remember when I was buying stuff from the US (not crypto related) €1 was worth almost $1.40 per conversion, where last year, when purchasing Bitcoin, €1 bought me significantly less than $1.10 worth for a short while.

If these aren't insane fluctuations, then I don't know what is. Bitcoin goes through insane fluctuations in a quick fashion, while fiat does it over longer periods of time, which means that fundamentally, there is no real difference.

These fluctuations of less than 30% over a time span of a few years are nothing when compared with Bitcoin volatility where you can see that much in a matter of days a few dozen times within a single year (not even speaking about other cryptocurrencies). Honestly, I can't even imagine how you can call such fluctuations insane. In my view, they are nothing out of the ordinary, while insane is on order of thousands %% like price first grows 10 times, then falls 3 times all within a few months.

It is in the interest of the establishment to manipulate all price levels to make it *appear* that their issued money has the most stable value. This has been going on for about 500 years and is nothing new. The gold and silver standards over the centuries were just very good versions of today's not-so-elegant manipulations.

What matters here is whether the economy grows over the long term. If it comes about through manipulation, then so be it. It looks like you fail to understand that the manipulators ("the elites") are in the same boat with the manipulated ones. They are also vitally interested in the growth of the economy at large. Or do you really think that kings and rulers lived better lives than most people today in the developed world?

Quote from: BobK71 on April 23, 2018, 08:40:52 PM

But don't be deceived. Hold on to your Bitcoin and gold despite all the ups and downs, and you'll be fine unless you're too old to see the long term.

Try telling that to people who bought at December highs. Personally, I would stick to gold since as I said, I'm pro-gold deep inside, long-term wise. For the record, I'm pro-Bitcoin too, but I would never trust my life and my wife on it. If you have some funds you want to multiply while your well-being in no way will be affected by losing this money, then Bitcoin as well as other cryptocurrencies may be a right choice after all, depending on your risk tolerance. But no matter how much you are willing to expose yourself to the risks associated with Bitcoin, it remains a highly risky asset.