Post
Topic
Board Economics
Re: Paper Bitcoin eth, ltc and others
by
BitHodler
on 02/10/2019, 08:43:17 UTC
Quote
Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.
So nothing wrong with cash cash is not a devil!


Is this supposed to be a Bible reference?
He nails it though. I wouldn't see fiat being a problem at all if the monetary system wasn't as toxic due to rogue governments. In other words, the tool isn't the problem, just the one issuing it irresponsibly.

Fiat is the most convenient and efficient form of money. Bitcoin and other crypto currencies are nothing but a wet dream of people to replace fiat in the future. Right now they are horrible forms of money, and that is almost every aspect.

Another thing is that people don't want to spend something that appreciates in value, which applies to Bitcoin and gold. Fiat on the other hand is something we are incentivized to spend due to inflation.