Topic: Bitcoin Is A Better Option Than Fiat Money? - page 3. (Read 1040 times)
Cyptocurrency (Bitcoin, Eth etc.) is better than Fiat in many areas (decentralize, immutability, Scalability etc.). But the greatest challenge of Blockchain Technology is Volatility. Buying BTC at #60,000 today waking up tomorrow to see it at $45,000 coupled with some scam projects that are now common in the space. The above are nightmare to the industry.
No doubt, Bitcoin gives you benefit if you hold it. I am saying in sense that if you buy one bitcoin at a price of 40000$ and after two months its price pumps and reach upto 50,000$. It means you have 10,000$ profit. But you can also got loss. It means if you buy it at a price of 40,000$ and after holding of two months it price dumps and reach upto 30,000$. It means your investment is -10,000$. It better to hold in this condition then to book loss. Its all upto to you.
But in fiat your investment becomes stable. It always becomes stable until you change it on another currency.
But in fiat your investment becomes stable. It always becomes stable until you change it on another currency.
i agree with you bitcoin is better if stored because every year bitcoin continues to grow rapidly and we will get big profits and if we save it compared to paper money if we save it in the bank we will not get big profits like btc that's my opinion but if I use it for everyday use I choose paper money because in my country btc is not legal yet and can't use btc for payments.
Bitcoin is now increasingly popular and even all people are familiar with bitcoin, maybe in certain countries they have provided a special store that accepts bitcoin as a transaction, but I agree more with your opinion, bitcoin is better used as an asset and as an investment, because the price of bitcoin is definitely an increase every year, in my country the government has not legalized bitcoin as a legal tender,
I agree with what the OP said above, and I've been thinking that way ever since I understand Bitcoin. But what we understand is contrary to what the government wants, they want restrictions on what we do with regard to the economy of an area, this is actually colonialism, but this is also one of the government's protections against us as the most basic economic driving asset. So in my opinion, Bitcoin does beat Fiat by a landslide, but the government won't let it kill us and them because of its infinity.
i agree with you bitcoin is better if stored because every year bitcoin continues to grow rapidly
Wrong. bitcoin never increase in value every year instead mostly happens every 4 years and that is when Halving of Miner happens.Quote
and we will get big profits and if we save it compared to paper money if we save it in the bank we will not get big profits like btc
While i respect your position in that Big profit thing , but this will only happen if your fund invested are the amount that you can afford to wait for long time.Quote
that's my opinion but if I use it for everyday use I choose paper money because in my country btc is not legal yet and can't use btc for payments.
That is the sad thing , hope it will be legalize in future. 
bitcoin has many advantages
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
Not as soon as you think. Don't get me wrong I am all for Bitcoin as well, but fiat currency cannot be phased out. No matter how high the inflation rate are because there are still those who choose to use fiat currency as a means to access everything. Currently, we do not want to pay for a cup of coffee or a quick fastfood launch break using Bitcoin, because of the transaction fees and some people is too afraid that they might going to regret spending Btc at this current timeline.
I definitely would agree that Bitcoin and fiat currency could both co-exist for the longest period if time.
bitcoin has many advantages
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
Not as soon as you think. Don't get me wrong I am all for Bitcoin as well, but fiat currency cannot be phased out. No matter how high the inflation rate are because there are still those who choose to use fiat currency as a means to access everything. Currently, we do not want to pay for a cup of coffee or a quick fastfood launch break using Bitcoin, because of the transaction fees and some people is too afraid that they might going to regret spending Btc at this current timeline.
I definitely would agree that Bitcoin and fiat currency could both co-exist for the longest period if time.
In terms of investment, I'm choosing bitcoin, but for the regular transaction, we cannot deny that fiat is more widely accepted compared to bitcoin, so we cannot just ditch fiat for bitcoin because it will not happen. The majority are still using fiat, and I don't see any possibility that bitcoin will surpass the popularity of fiat in the future unless we will shift into a decentralized world or government.
People are paying widely in fiat for their local purchases but many people like others to accept bitcoin for their purchases but they cannot because the retailers are not aware from this much and they do not accept right now. For international purchases crypto is used by people on all those platforms where it is accepted and people are happy with it. 
In terms of investment, I'm choosing bitcoin, but for the regular transaction, we cannot deny that fiat is more widely accepted compared to bitcoin, so we cannot just ditch fiat for bitcoin because it will not happen. The majority are still using fiat, and I don't see any possibility that bitcoin will surpass the popularity of fiat in the future unless we will shift into a decentralized world or government.
bitcoin has many advantages
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
I dont consider this advantages for the fiat money. Fiat money is controlled by the governments and they can print as money currecny as they want. They do provide the security and take responisbily of the currecny, but they never promise you for inflation free economy. Bitcoin is volatile and have some little issues but these can be easily resolved once it is adopted by everyone. Government dont reconzinge bitcoins but who cares. They always want to make us slaves by controlling us and not providing the public with finicial freedom.
For me yes it is better when you are just going to keep it,
But in terms of payment I still think that Fiat is still better than Bitcoin,
Most of us see Bitcoin as an investment tool not as a payment option.
But in terms of payment I still think that Fiat is still better than Bitcoin,
Most of us see Bitcoin as an investment tool not as a payment option.
That's why I said it's not really correct to compare bitcoin to fiat money. The original idea was for people to use bitcoin instead of fiat money. But now things have changed and bitcoin has become a kind of digital gold after funds and big players entered the market. But bitcoin can save your money from inflation.
Indeed, we know that currently there is news of several countries using bitcoin as a legal transaction tool. but I believe, fiat turnover is still very important in the country. we have not been able to escape from this ancient technology.
That's why I said it's not really correct to compare bitcoin to fiat money. The original idea was for people to use bitcoin instead of fiat money. But now things have changed and bitcoin has become a kind of digital gold after funds and big players entered the market. But bitcoin can save your money from inflation.
I don't think we can give an absolute answer to that question. Both crypto currencies and fiat money offer advantages that we as consumers and investors should take into consideration. It also depends on our general financial situation if crypto currencies or fiat money are better. For example, the average person receives his monthly salary in fiat money. The loan for his car or house is usually also in fiat, same goes for paying taxes and other bills. In such a case I would argue that fiat money is the better option for him. He can invest some of his money into cryptos but since his obligations are mostly in fiat he should stay like that. However, if most of our income comes from crypto currencies than it's a much better option for us. If income and expenses are in different currencies, we face the risk of getting hurt during bear markets. As long as inflation is so high, the risk is small and crypto seems like the better option. But who knows what crisis we will face in 2022.
I agree with your arguments. It is impossible to directly say which is better, fiat or cryptocurrency. These are completely different financial assets, and each of them performs its useful role for society. At the same time, they cannot replace each other either.Nor can it be argued that the national currency of states is an unsuccessful attempt at the existence of means of payment. With the correct and skillful work of the Central Bank and government agencies, cash and non-cash currency is an effective means of managing the economy and increasing the well-being of people.
I don't think we can give an absolute answer to that question. Both crypto currencies and fiat money offer advantages that we as consumers and investors should take into consideration. It also depends on our general financial situation if crypto currencies or fiat money are better. For example, the average person receives his monthly salary in fiat money. The loan for his car or house is usually also in fiat, same goes for paying taxes and other bills. In such a case I would argue that fiat money is the better option for him. He can invest some of his money into cryptos but since his obligations are mostly in fiat he should stay like that. However, if most of our income comes from crypto currencies than it's a much better option for us. If income and expenses are in different currencies, we face the risk of getting hurt during bear markets. As long as inflation is so high, the risk is small and crypto seems like the better option. But who knows what crisis we will face in 2022.
With the existence of bitcoin it has proven to the monetary system that infinite finance is a failure model. We people have been used to it, and it has provided users with the best service features.
The infinite printing of currency with gold backing makes the centralised system trustworthy against the technology backed cryptocurrency. Cryptocurrency and fiat have got advantages over the other, but with time the adoption only will give the answer whether bitcoin is a better option or the fiat will fulfill people with the features of cryptocurrency.
The infinite printing of currency with gold backing makes the centralised system trustworthy against the technology backed cryptocurrency. Cryptocurrency and fiat have got advantages over the other, but with time the adoption only will give the answer whether bitcoin is a better option or the fiat will fulfill people with the features of cryptocurrency.
bitcoin has many advantages
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
Many seemed to compare these two since both can be associated and used as payment for services. There is this comparison which is also similar to gold, where people would debate on which is better. The difference is, BTC is relatively easier to earn compared to owning gold.
Personally, fiat will always be the better option compared to BTC. Like what you have mentioned, the recognition and utilization of BTC is yet to be globally accepted, given that most countries still prohibit the transaction of such due to the risks involved on their part (e.g. anonymity on transactions, etc.).
Since fiat can easily be regulated and controlled by the government institutions, BTC on the other hand, cannot be regulated without losing its function and essence.
bitcoin has many advantages
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
bitcoin has many advantages
fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it. fiat has many advantages
That's why I don't see any reason to make comparisons.
for example:
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank
You need to understand what purpose you are using bitcoin for and in what qualities you are comparing it to fiat money. It seems to me that bitcoin is now hard to be classified as a means of payment, it is more suitable as a means of accumulation. As long as almost everything in the world is counted in fiat money (dollars, euros), bitcoin is not going to be a convenient means of payment.
^That is what they are thinking now for those who have been adopting BTC, it is all about storing value just to make a profit and not just a mode of payment, probably there are some using this as a mode of payment but the majority are using this because of accumulation and while making profit through hoarding it and waiting for a good value comes. But I don't think BTC is a good option than fiat because for me they have pros and cons of each other that we should consider before deciding its functionalities. Both are useful for me.Jump to: