Since many people try to convince us that Bitcoin is a bubble and how we will lose our money eventually, I wonder if money is not a bubble actually. There exist economies in which money has a positive value in spite its market fundamental is zero. That means fiat money has zero value. Fiat money is a social contrivance. We take money from other people because we know other people will take it from us. In theory and practice the fiat money is a bubble.
Yes i agree with you because fiat money don't have any tangible value and are not backed by any physical store of value like gold thesedays which makes its value less but they are legal system supported by governmemts and without them there is no value of goods and services in global market.The worle operates only on the base of fiat money so its quite controversial.
At present, doubtlessly, fiat has its own place and it is playing the role of medium of exchange. Governments are still using it but this wont remain the case forever. If not earlier, then later all the countries will be releasing their own digital coins and accept the existing coins too. Bitcoin is already legal in few countries now. With time, systems get revolutionized and now it is the money system that needs to be changed.