Scotland's 20 Pound Note and Its Implications for Fiat vs Bitcoin

Just saw something interesting online. Scotland released a limited edition £20 note with McTominay's famous overhead kick. While it’s cool for football fans, it makes me think about fiat money and Bitcoin. If a goal prompts more money printing, who knows what else they’re printing behind the scenes.

Totally agree. It shows why we can't trust the fiat system. Traditional finance is broken, and everyone knows it. They can manipulate it however they want, creating new cash without any real reason.

What are you talking about? It’s not like that. Money gets printed regularly as per a schedule. Sometimes they add special designs to celebrate events. Plus, old bills get replaced all the time, so it's normal.

Where’s the nonsense? You said money is printed regularly. Who decides that? Old bills get out of circulation, but how? Do they spoil? Are they burned? Sounds sketchy to me.

Old cash does get shredded or burned. But honestly, that’s not your concern as a citizen. The point is, old notes slowly fade out of circulation. They don’t just print endlessly and cause inflation. They replace old bills gradually.

But you said the goal was the reason for printing money. That's the nonsense. Money would have been printed anyway. Banks send damaged bills back to central banks for replacement, and citizens can exchange torn notes too.

You might be wrong about why Scotland printed those notes. Only a hundred were made for charity and to celebrate World Cup qualifications. But you’re right about Bitcoin being a solid value store, unlike fiat which can be printed based on emotions.

Not sure how true this is. OP didn’t even share an image as proof. I doubt governments want to promote Bitcoin; they’d be responsible for any issues. They don’t even support the kind of Bitcoin we care about because it goes against their control.

If you're referring to the McTominay note, it did happen, but I’m unsure if it’s actually in circulation. The goal isn’t that significant, and Scotland isn’t a major football nation, so I get the hype, but it’s not a Bitcoin connection.

That’s not really accurate. With institutional adoption, we see things like ‘paper bitcoin’ emerging. Wall Street can trade bitcoin without holding it, which might explain the disappointing price action lately. Still, it’s different from fiat money.

Fiat inflation isn’t a new story. This case is tiny compared to what happened during Covid-19. Governments printed tons of money, leading to serious inflation problems. If anyone doubts inflation issues, just look at the US dollar.

Bitcoin is different because no new coins can be created without mining, and there will only ever be 21 million. This whole situation surprised me, and I can only imagine the analysis for my country’s fiat currency.

Only 100 of these notes were printed, so that’s £2000. Sounds alarming, but governments can’t just print money on a whim. They need state rights, economic calculations to avoid inflation, and proper production tech. Secret printing would wreck an economy.