Fiat Currency Is Extremely Overrated.
So today I saw a news about the Central Bank in my country signing a budget for some amount of money in billions (over $5 million) for acquiring materials to be used to print a certain amount of Fiat. While this sounded like another innovative way for the leaders to loot funds, it infact showed why Fiat / paper currency is an archaic means of exchange and is higher overrated.
Reading on how an enormous amount of money is budgeted for printing more money just didn't make sense especially when I think about the fact that this newly printed money would also lose value over time when the money becomes too old or rough and have to be shredded by the Central Bank. Now that sounds like a total waste of money.
Taking my country as an example, the fiat printed 10 years ago don't have the same physical appearance as the newly printed ones and it's quite sad to see that there are no plans by the government to tackle this issue and adopt a cheaper, reliable and efficient means of exchange.
The emergence of cryptocurrencies have made me realise that we can actually have a world totally free from unnecessary budgets like spending money to buy materials to print money and having situations where the federal government print fiat without the knowledge of the people for their own corrupt practices.
Taking Bitcoin as an example, the 21million bitcoin created in 2009 are still the same bitcoin today and the value of every single unit of Bitcoin has increased massively over the years.
Every hand points in the direction of the government adopting cryptocurrencies and accepting the digital revolution but they seem hell bent on not wanting to have anything to do with cryptos and have made it a taboo for the masses.
Fiat is highly overrated and really no longer deserves the kind of attention it's given. It's about time we completely get rid of it and adopt cryptocurrencies.
Yeah, the current fiat system is struggling and perhaps dying.
I'm very thankful I got into crypto relatively early.
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The good thing is that fiat system was so helpful at a time but time has changed. Same way cowries and coins got outdated is the same way Fiat is dying slowly. Digital currencies are the future and I'm also glad I got in early.
Should I summarize this whole content for you?
Let me guess, this is Nigeria... Look how we livin' now!
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You're dancing right, the country is a shithole as it is. I really don't know how we can get out of this mess.
Nobody knows man!!! Nobody only God will help us out of it because from the way they are circulating the power, it just shows that we will be stagnant for a while. From one bad and old man to another bad and old man.
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The reason I got into crypto was to prevent my personal finances from being damaged by irresponsible governments. In Venezuela, the inflation was extremely high for many many years, and crypto would have saved a lot of people if it existed back then. Luckily it exists now so people from banana Republics have this option to protect themselves.
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It is very difficult for governments to adopt cryptocurrencies and even more so if it is a large country such as Mexico or Argentina.
another factor is that, as you say, politicians only want to steal and steal, since it is extremely absurd to put so much money for more money that has no value. so cryptocurrencies are a feasible solution to this problem.
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