Topic: Are cryptocurrencies better than regular currency - page 17. (Read 19681 times)

Cryptos are in a world of its own with its obvious limitation which we already know and one is you must be internet compliant, we also understand the illiteracy level especially in developing countries.

Having said that few, regular money is not to be compared with cryptos. Regular money is easier to access by all levels.

We have to face some difficulties when we try to use crypto currencies instead of regular currency widely.We could find still more people being illiterate in most countries who are still unaware of digital transactions and they don't have a credit or debit card.The only thing they know is fiat currency.More over,internet has to be widely available to use crypto currencies.But the best feature about bitcoin is is decentralized nature due to which still governments struggle to gain control over it.People holding crypto currencies are their own banks and they are not in need of banks for transactions.

Well, the question is open-ended since he didn't specified the point of comparison between the two. For me, both are important for their respective purposes. Regular currency has been already a part of the culture of the people around the world for a long time. After the time of barter exchange, regular money was created to buy stuffs or pay for services. Regular money is also essential for people's daily lives especially in economic purposes. Regular money is handy and basic in terms of usability.

On the other hand, cryptocurrencies where created for the main purpose similar to regular money - buy stuffs and pay services. That's why it is called cryptoCURRENCY. However, cryptocurrencies can be used in a way that regular money can't be used. One of these is its use in crypto-trading. Unlike the stock market, crypto-market uses cryptocurrencies as assets for trading, buying, and selling. Regular money can't be used in trading unless you buy stocks. Another one is that cryptocurrency can actually be used as a way to save your money, or what we call SAVINGS ACCOUNT. Crypto-wallets are actually similar to bank/savings accounts where you deposit your money in a form of cryptocurrency like bitcoin. The bad thing about it, however, is that the amount of money you've deposited might decrease since cryptocurrency is a volatile asset that its value might rise up or fall down in just a blink of an eye.

I don’t think Bitcoin is the fastest way to pay online, Bitcoin is even the slowest as of recently, cause it will have to go through long processes like confirmation before it arrives. But with regular currencies mobile banking/online banking/credit card/debit card you can make transactions in a twinkle of an eye. So Bitcoin needs to improve.

Not exactly. Cryptocurrency is relatively unaccessible to those who don't have access to internet, which are in surprisingly many countries if you think about it. It also takes money to gain cryptocurrency unless you perform a service and accept crypto as payment -- possible, but still not widely accepted. I mean, how many stores do you see taking Bitcoin? They exist, but not many.

To some extent no because not all have access to crypto currencies and know how to use or even get them, what about those who can not use the internet or those who don't have access to the internet they will not be able to use cryptocurrencies but can use normal paper money.
Even most citizens of the undeveloped countries of the word don't know about bitcoin but use money in they daily life.

yes both have their own importance. I think we cannot ingore the inmportacne of anyone. In fact we we are using our fiat for anything in our life. we can buything from the makret using fiat, if we want to trade some thing from another country then we need to conver the local currenc in to that country currency. but bitcoin as it is a digital and decentrlze currency and we can use anywhere in the world witout changing it into anyother currency. But i think still it will take some years when all the poeple will know about bitcoina and will even start using it.

I think based on the current situation that the world now is not yet fully digitalized bitcoin as a cryptocurrency is not always available if you have no internet so real money is much advantage compared to electronic money because in real money we can use it anywhere.

Cryptocurrencies are better than regular currency for the most part. Unless you are reffering to some ICO related coin than it's not safe to use these for the long term.

If we make a comparison in between regular currencies and crypto currencies, then we’ll get to know this thing that both are having their own importance at their own place. If we are talking from earning more money and profit point of view, then it is crypto which better. On the other hand, if you are talking for buying different kind of things and stuff like that, then it is regular currency which is better.

In my views bitcoin is better than regular currency.  You can spend it in a fraction,  and it's prices are constantly increasing. And if we start using only one currency and that too in the form of bitcoins.
 If we use a single currency, this even thought make so many dreams unfold.  If there will a single currency there will be no banks for imposing restrictions on transaction taking place all over world.  There will be whole different world.  This advancement will turn the whole economy balance, there will be no forgery,  theft,  no fear.  Even crime rate will declined.  Nobody is dependent on banks for extracting their money.  There is a whole different world.  There will be peace and there will no fights among countries on money based issues.  Crypto currency will take over the money.  People will enjoy the benefits of crypto currency like bitcoins. A whole better world.  This is my point of view

Fiat is stable but it always going down, when you save one dollar after some years you still have one dollar but that dollar can buy a lot less than in the past so the cots of that stability is that fiat devalues every day, bitcoin is different, there are big movement on the short term and this scares people but if you store bitcoin after many years you will still have one bitcoin but the things you can buy with it went up instead of down and this shows which one is the superior currency.

The fact, FIAT still play an important role in our daily life, we can not using Bitcoin or any payment method to replace FIAT. Even Visa/Mastercard also a tool to help using FIAT easilier than paper money. It help FIAT can become digital currency instead of use normal paper as the past.

Yes it is better than regular currency in certain factors,  Like it could be successfully transact whenever there is internet connection, It is highly secured because the transactions are highly encrypted to make users remain anonymous and untraceable. It is also fast to transact wherever outside the country you are and effortless to do, Compared to regular money, you need to show up to successfully  process the transaction.

these created me comprehend we arent soo freedom as we believe we are, even bein at crypto globe, there are some hazards

That's right. Everyone wanting of having a huge profit in return and making cryptocurrencies as they preferred of having investment with. Because they know already of what happen in investing with local currency in the future compared to bitcoin.
The only thing that local currency can't be surpass by crypto is in being used locally. As only few establishment are accepting bitcoin as a mode of payment.

Bitcoin could be better in some aspects, as it would be used by most in having transactions online compared to fiat currency right now. But in locally made transactions, regular currency is being used as bitcoin or any digital currencies aren't accepted in many establishment. At this moment, they are both better and they are doing great as they are very useful in different areas of concentration.

point is valid accordingly as fiat has been there for almost a century ahead from bitcoin and its the main factors of transacting but given enough time chances
that adoption will also take place and crypto will be well recognize though it cant replace fiat but the chances that more people will also accept the change in
regards of payment use.

For the view point of investment, Cryptocurrencies have been quite fast to increase in value than regular currency. That is why if you want to earn big with a short period of time like days or even months, crypto is better on having very big profit. Really.

I would say both of them have their good and bad area ,so there might not be basis for comparison. Bitcoin is digital money and should have the paraphernalia of being digital, meaning you must be internet compliant to use it without which, you can't access it. Off line, no bitcoin use nor transfer plus the transaction few is higher than fiat in all ramifications.

For me ,apart from the high value of bitcoin (which I think is one major reason people are investing in it), fiat is comparably easier to handle. Maybe because it has been the tradition though