Post
Topic
Board Bitcoin Discussion
Re: Bitcoin vs Fiat
by
awosesun
on 01/09/2018, 12:36:11 UTC
Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Fiat still far ahead of bitcoin in many ways. Its crystal clear that bitcoin is still behind. If you say many country are in huge debt today, i won't disagree over that but they are in debt not because of fiat but a bad governance like the case of Venezuela. If Venezuela adopted bitcoin today, it won't take them out of recession or make them rich.