Bitcoin Is A Better Option Than Fiat Money?

isaac_clarke22

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Quote from: Sebas.tian on March 13, 2022, 11:42:40 PM

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El Salvador was one of the highlight news about this though I know it was long time ago already. From the current war happening right now, I doubt that any countries are going to think about it for now. Donations to Ukraine could lead other people to use Bitcoin to donate as well, but that's it.
The adoption for buying physical goods using Bitcoin is quite slow here in my country though.

CryptSafe

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Bitcoin can be likened to digital gold which however is a store of value. Bitcoin can serve you better if you understand the principles on which it operates compared to fiat. Fiat is controlled by government which however tells you that you have no 100% control over your assets. In the other hand, exchange too act under government regulations so therefore, anything can happen at anytime but you holding your assets in your own custodial wallet gives you a clean and unhindered 100% access to your assets.

TheGreatPython

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Quote from: kotajikikox on March 14, 2022, 12:28:34 AM

Quote from: virasog on March 13, 2022, 11:20:04 PM

We have seen in the recent war situation that Russian Ruble has gone done considerably and we never know how much more downside can we see in this currency. People are selling this currency and buying bitcoin which shows that bitcoin is the best investment. Bitcoin will not lose its value in situations like war etc because it is not a specific region currency but a global blockchain currency.

But is there any source mate ? a clear source that Russians are Buying Bitcoin and Rubbles are being taken away or thrown ? i am not sure if there are even shared here but this was just speculative , look at the market then when was that comes ?
because up to now market is still dumping and the price of Bitcoin does not even climbed 45k again, is this the truth about the dumping of Rubbles?
maybe it is the other way around that is happening?
but of course Bitcoin is still going to increase in the coming days,weeks,months,years .

The number of wallets with at least 1k bitcoins in it skyrocketed the day sanctions were put. This made people think that it must be Russian oligarchs that did it. I mean it is not a bad idea, it actually has a logic behind it, can't be just coincidence.

I am not saying that all of them were Russian oligarchs, but they obviously saw bitcoin as a way of avoiding that even before the war started because they know Putin and what he can cause them. So that is why when the wallet numbers went up that much, everyone assumed it was Russians. Which caused this speculation that Russians are using crypto to avoid sanctions. Not 100% legit info we have, but logical arguments that makes sense.

bhooscream

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Quote from: CDC AP on March 11, 2022, 11:03:58 AM

but.the problem is bitcoin is still banned in many countries, even in the country I live in, we can't use bitcoin as a medium of exchange, in the country I live all shopping must use fiat, we can't go anywhere without holding fiat money...

What do you mean by using BTC as the medium of exchange? Using it as a payment tool?
Even if you cannot use BTC as a payment tool, you are free to invest in Bitcoin, right? If your main purpose is for investment, it shouldn't be a serious problem. You can sell your BTC or convert it to fiats whenever you want to pay for goods or services. Don't make it too be very complicated! As long as BTC isn't fully banned in your country, don't think too much that it is a big problem.

kotajikikox

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Quote from: virasog on March 13, 2022, 11:20:04 PM

Quote from: Ngewex Yuk on March 01, 2022, 01:07:22 AM

I think so, bitcoin is better than fiat money because with bitcoin we don't depend on anyone including the central bank and the most important thing is the presence of bitcoin can reduce inflation because the value of bitcoin will continue to rise, this is what makes me not hesitate to invest and hold for long term my bitcoin.

We have seen in the recent war situation that Russian Ruble has gone done considerably and we never know how much more downside can we see in this currency. People are selling this currency and buying bitcoin which shows that bitcoin is the best investment. Bitcoin will not lose its value in situations like war etc because it is not a specific region currency but a global blockchain currency.

But is there any source mate ? a clear source that Russians are Buying Bitcoin and Rubbles are being taken away or thrown ? i am not sure if there are even shared here but this was just speculative , look at the market then when was that comes ?
because up to now market is still dumping and the price of Bitcoin does not even climbed 45k again, is this the truth about the dumping of Rubbles?
maybe it is the other way around that is happening?
but of course Bitcoin is still going to increase in the coming days,weeks,months,years .

Sebas.tian

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Quote

I dare not say bitcoin is better than fiat currency, it is true that bitcoin is not controlled by any party and cannot be controlled by the government even state banks cannot regulate bitcoin, we are also free to invest wherever we want with bitcoin, but.the problem is bitcoin is still banned in many countries, even in the country I live in, we can't use bitcoin as a medium of exchange, in the country I live all shopping must use fiat, we can't go anywhere without holding fiat money...

I believe with time those countries that banned bitcoin because is a decentralized currency that is not control by the government or manage by the government officials will soon unbanned bitcoin because of the good news they are hearing about bitcoin from other countries that adopted it into their country. Some countries are about to legalized bitcoin for their citizens to start having knowledge about bitcoin and start earning something good from bitcoin investment in the country.
The moment those countries that banned bitcoin later accept it, it will be a great joy into the Life of those citizens that want to purchase their goods and services and pay with bitcoin without involve fiat money.

virasog

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Quote from: Ngewex Yuk on March 01, 2022, 01:07:22 AM

I think so, bitcoin is better than fiat money because with bitcoin we don't depend on anyone including the central bank and the most important thing is the presence of bitcoin can reduce inflation because the value of bitcoin will continue to rise, this is what makes me not hesitate to invest and hold for long term my bitcoin.

We have seen in the recent war situation that Russian Ruble has gone done considerably and we never know how much more downside can we see in this currency. People are selling this currency and buying bitcoin which shows that bitcoin is the best investment. Bitcoin will not lose its value in situations like war etc because it is not a specific region currency but a global blockchain currency.

btc78

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Quote from: Hiveonm on March 01, 2022, 10:59:13 PM

Of course, the recent war time is enough to show that Bitcoin is the most secure asset, and it is in line with the ideal of human development. Bitcoin is irreplaceable and irresistible.

This assurance is what most wanted to hear and have but the problem is that most of the people knows nothing about this till now .
that bitcoin can lead them to most probably better use of their funds instead of Having Money in pocket or in banks.
so in time realization will come and that is when the world will finally accept that fact that bitcoin is needed for the world to progress.

Stalker22

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For me, a great advantage of bitcoin over cash is that you do not have to carry it with you at all. You can send and receive money from anywhere in the world with an internet connection. You can have a nice balance in your bitcoin wallet, but you do not have to carry it with you. A hardware wallet or a piece of paper is all you need to write down the private key of your wallet. Furthermore, with bitcoin you do not need any centralized control or third-party involvement in the payment process, which is a major advantage that no fiat currency has, which makes bitcoins a better alternative to traditional currencies.

Maidak

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Quote from: Daryl_Dixon on February 04, 2022, 01:22:50 AM

As most of you know in this forum, bitcoin has more advantages over fiat money. fiat money is under the control of governments. With fiat money, we do not have 100% control over our assets. But Bitcoin is not like that and we can freely trade it anywhere in the world without the control of third parties. However, Mexico's third wealthiest man ^{(Ricardo Salinas Pliego)} agrees with us and said in a recent interview:

Overall, Bitcoin is definitely better than Fiat Money. But not each other's substitute but complement each other.

The advantage of Bitcoin is that it does not carry any risk of embezzlement by 3rd parties. And it's a very fast medium of exchange. Charge-back is not possible without Fiat Money on the other hand, so Fiat Money is more important in banking transactions. I think Fiat and Bitcoin both are functional at the same time, it is not possible to take over one another.

Myleschetty

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it is not something new that Bitcoin is a better option than fiat currency and even the government understands this but they don't like no censorship and decentralization of Bitcoin. Besides, if someone like Kiyosaki and the institutional investor sees Bitcoin as the next bigger what proof do we need to show again.

Altryist

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Quote from: TimeTeller on February 28, 2022, 04:57:57 PM

There's no doubt that when it comes to that aspect, bitcoin has edge over fiat.
We can be our own bank as we have the full control of our funds.
However, many people still prefer to trust their funds to the banks because they want this institution to secure their assets and be responsible about it.
They have others taking the responsibility of securing their assets to safety. And a lot of people don't know yet how to manage crypto.
Also, other financial transactions like housing mortgage requires to have an account from the bank. Which is why in some cases, having bank account is necessary.
Moreover, the volatility factor is one major factor why people are hesitant especially those who are not really knowledgeable with crypto market.

Most people do not understand either banks or cryptocurrencies, but at the same time they want security for themselves and their finances. There are cases when even experienced people lose money due to various circumstances, so there will always be risks, you just need to decide for yourself whether you are ready to be responsible for managing your capital. At the moment, bitcoin is better than fiat, but you need to spread the risks and never put all your eggs in one basket.

CDC AP

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I dare not say bitcoin is better than fiat currency, it is true that bitcoin is not controlled by any party and cannot be controlled by the government even state banks cannot regulate bitcoin, we are also free to invest wherever we want with bitcoin, but.the problem is bitcoin is still banned in many countries, even in the country I live in, we can't use bitcoin as a medium of exchange, in the country I live all shopping must use fiat, we can't go anywhere without holding fiat money...

ChiBitCTy

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I mean yes and no when it comes to this. Bitcoin certainly has aspects to it like decentralization ,limited supply, borderless, works 24/7 etc. I’m not sure that bitcoin could ever necessarily overtake any counted fiat currency system anytime soon or ever. Bitcoin is just too slow right now. Now we’re seeing the US gov is wanting to creat their own coin. Crazy times.

bussybuddy

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At present, we have equipped ourselves with the knowledge to know what is right. So, IMO it will be impossible to judge one as better than the other completely, and there will always be a different view of them. It's not exactly good for me, but it's generating a satisfying income for me, so I care about it. It doesn't make any difference, as they are all representations of a tool of exchange in life. Just keep it simple about its existence, and don't force it to be like this.

Hiveonm

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Of course, the recent war time is enough to show that Bitcoin is the most secure asset, and it is in line with the ideal of human development. Bitcoin is irreplaceable and irresistible.

livingfree

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Quote from: dunfida on February 28, 2022, 06:59:28 PM

Quote from: livingfree on February 28, 2022, 06:01:36 AM

Quote from: LUCKMCFLY on February 28, 2022, 01:08:31 AM

I think that both, both BTC and FIAT money are necessary in our daily lives, in very particular cases such as those of countries in crisis with high inflation rates, BTC becomes one of the best options to jump those financial limitations and get out of the internal system and having a better particular economy, however due to the nature of BTC of having a net deflationary economy it has a very clear advantage over the traditional economy, I think that is the greatest advantage that BTC has and that makes it unique over Fiat.

We can see the situation that you're explaining.

Especially in times that there's a war or economic sanction or the status of a country isn't good, bitcoin is a key getaway and helpful in those bad times.

Whether it will be a personal struggle or an economic struggle. Bitcoin surely is helping everyone who holds it.

We are actually seeing its relevance on times like this specially now on a war.We've seen on how it do really acts as a medium which could really make things easily accessible which is the true beauty of it.

Not to be able to replace on Fiat money overall usage or application but there are some limitations and now we do have options we could take and choose up according on various situations or conditions.

Yes.

Let's just settle that replacement of fiat.

The time has come that the world is seeing how good and helpful bitcoin is. Look at the banks, the central banks that have been controlling the flow of money and withdrawals.

While bitcoin, it's been there for them anytime they wish to receive or send money.

Pejoh Asu

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I think the very fast development of bitcoin makes many countries worried, but we have to admit that bitcoin is getting better and the support of a very large community makes bitcoin's position even stronger, even for transactions between nations, the presence of bitcoin is the best solution than fiat which of course can only be used for 1 country.

Ngewex Yuk

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I think so, bitcoin is better than fiat money because with bitcoin we don't depend on anyone including the central bank and the most important thing is the presence of bitcoin can reduce inflation because the value of bitcoin will continue to rise, this is what makes me not hesitate to invest and hold for long term my bitcoin.

andriarto

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Quote from: dunfida on February 28, 2022, 06:59:28 PM

Quote from: livingfree on February 28, 2022, 06:01:36 AM

Quote from: LUCKMCFLY on February 28, 2022, 01:08:31 AM

I think that both, both BTC and FIAT money are necessary in our daily lives, in very particular cases such as those of countries in crisis with high inflation rates, BTC becomes one of the best options to jump those financial limitations and get out of the internal system and having a better particular economy, however due to the nature of BTC of having a net deflationary economy it has a very clear advantage over the traditional economy, I think that is the greatest advantage that BTC has and that makes it unique over Fiat.

We can see the situation that you're explaining.

Especially in times that there's a war or economic sanction or the status of a country isn't good, bitcoin is a key getaway and helpful in those bad times.

Whether it will be a personal struggle or an economic struggle. Bitcoin surely is helping everyone who holds it.

We are actually seeing its relevance on times like this specially now on a war.We've seen on how it do really acts as a medium which could really make things easily accessible which is the true beauty of it.

Not to be able to replace on Fiat money overall usage or application but there are some limitations and now we do have options we could take and choose up according on various situations or conditions.

Although bitcoin has its advantages, it certainly has its drawbacks as well. until now the government still considers that fiat is the most relevant to use. indeed because we are struggling in the crypto world, of course we want bitcoin to be usable immediately, but the government is certainly looking at it from many directions to legalize it, hopefully with this conflict paving the way for bitcoin to be adopted

Topic: Bitcoin Is A Better Option Than Fiat Money? (Read 1040 times)