I found this quality topic on twitter and it all caught my attention. I have seen that fiat is the currency of the Government and Bitcoin is the currency of the people, Can the Government Crash? if so the people cannot Crash neither, because so many people are not making good business from the fiat than in bitcoin, which have provided so much job opportunities for users who are online. Fiat will be replaced soon by bitcoin.
Share your thoughts
Fiat in the best case scenario is a get poor slowly scheme but if the government makes many mistakes then it can quickly become a get poor quick scheme, we have seen this in many countries in the past and we will continue to see this in the future.
However I do not see fiat being replaced by bitcoin since that will require that governments all over the world admit they are not capable of creating a stable currency and they will never admit that especially with the huge power fiat currencies give to them.
Well if the government makes many mistakes, they have all the means to cover up for it and keep the current system running. Being rich or being poor doesn't depend on the system or the currency. It's the individual that would tell whether they'll be successful or not. Most rich people today came to where they are through hard work. Bitcoin promises a shortcut but you'd likely end up on the losing end if you look at it that way.