We cannot throw away Fiat money now that we found Bitcoin, we all invested the Fiat money into acquiring or Investing in Bitcoin hence it has shown it still have its usefulness however, Bitcoin is definitely a better option when it comes to long term hodl. Holding your fiat in the bank wouldn't give you what you would get from HODLing Bitcoin in your wallet over a long time and for now, we cannot spend Bitcoin everywhere like we can do fiat. I would say both have their good.
That seems going to be a problem and that is why we consider Bitcoin as an investment, not fiat that we can use to buy stuff. As the situation remains like this no question that people will choose fiat over Bitcoin as clear to see that the main reason for acquiring Bitcoin is to make a profit, nothing else. Even some merchants and business owners are not supporting Bitcoin to become a currency as they consider the risk of its volatility if that happens which might give them losses. And even seeing for another decade, this will never be changed. 
Topic: Bitcoin Is A Better Option Than Fiat Money? - page 5. (Read 1040 times)
Hey, I'm as deep into and enamoured with Bitcoin as the next guy on this forum, and I can certainly agree it is a better option than fiat money, or gold, depending on the solution it provides or proposes. Retaining value, transporting value, especially, as these are cases actually happening now with a lot of people dealing with hyperinflation or dollarisation issues.
But for regular Joe, even here where I live where digital money is more popular than physical cash, Bitcoin is still impractical for every day use.
Sure, I still order food once every week or two, and I mindfully use Bitcoin -- but only because the food app allows for it via Bitpay. I've even ordered travel tickets already more and more with Bitcoin, but Covid gave me quite a bit of refunding headaches there. For example, a credit card payment would have been overturned easily with a call to the bank, no questions asked, had the issuer not honoured refunds quickly. I can tell you it was a horrible process dealing with Bitcoin-paid tickets. I got the refund back in fiat, btw, and no Bitcoin merchant I know of (using a 3rd party processor) would ever refund in Bitcoin itself.
I love Bitcoin but I'm not prepared to spew the untrue mantras.
But for regular Joe, even here where I live where digital money is more popular than physical cash, Bitcoin is still impractical for every day use.
Sure, I still order food once every week or two, and I mindfully use Bitcoin -- but only because the food app allows for it via Bitpay. I've even ordered travel tickets already more and more with Bitcoin, but Covid gave me quite a bit of refunding headaches there. For example, a credit card payment would have been overturned easily with a call to the bank, no questions asked, had the issuer not honoured refunds quickly. I can tell you it was a horrible process dealing with Bitcoin-paid tickets. I got the refund back in fiat, btw, and no Bitcoin merchant I know of (using a 3rd party processor) would ever refund in Bitcoin itself.
I love Bitcoin but I'm not prepared to spew the untrue mantras.
We cannot throw away Fiat money now that we found Bitcoin, we all invested the Fiat money into acquiring or Investing in Bitcoin hence it has shown it still have its usefulness however, Bitcoin is definitely a better option when it comes to long term hodl. Holding your fiat in the bank wouldn't give you what you would get from HODLing Bitcoin in your wallet over a long time and for now, we cannot spend Bitcoin everywhere like we can do fiat. I would say both have their good.
Bitcoin is always a better option because to be honest there's no rewards when it comes holding fiats and even you make investment you cannot get good return from it., unlike bitcoin wherein despite of being so volatile you can assure that at the end of the day you can make massive profits in it especially if you hold it for long term as it keeps improving and getting matured because of adoption..
Cannot say that btc is always a better option because to me bitcoin still has some flaws as when compared to other fiat options like some of them are stable and no risk that they can lose their value but btc does although btc has an advantage compared to them when it comes to investments because btc can regain what he lost.It is true that you wont gain anything when you just hold your fiats but you can make something if you use your fiats in different types of investment including investing in cryptos. Btc is volatile so no there is no guarantee that you can earn a profit overnight but the chance is high to earn a profit if you hodl your btc for long term.
Bitcoin is not perfect, it still has some flaws. So Bitcoin is not always better than fiat, so I don't agree with Bitcoin replacing fiat. Since both fiat
and Bitcoin we really need both, it would be ideal if Bitcoin and fiat co-exist, so that Bitcoin and fiat complement each other. If we save money
to shop for daily necessities in the form of Bitcoin, it will make us lose, because the price of Bitcoin is volatile, so it's not every day the price of
Bitcoin goes up. Sometimes the price of Bitcoin goes down and if we sell it for our daily needs we will lose. Bitcoins are great for long-term
investments, and for grocery shopping it's better to store them in fiat. So we use Bitcoin only as needed, because we have to know when to use
Bitcoin and when to use fiat.
Bitcoin is always a better option because to be honest there's no rewards when it comes holding fiats and even you make investment you cannot get good return from it., unlike bitcoin wherein despite of being so volatile you can assure that at the end of the day you can make massive profits in it especially if you hold it for long term as it keeps improving and getting matured because of adoption..
Cannot say that btc is always a better option because to me bitcoin still has some flaws as when compared to other fiat options like some of them are stable and no risk that they can lose their value but btc does although btc has an advantage compared to them when it comes to investments because btc can regain what he lost.It is true that you wont gain anything when you just hold your fiats but you can make something if you use your fiats in different types of investment including investing in cryptos. Btc is volatile so no there is no guarantee that you can earn a profit overnight but the chance is high to earn a profit if you hodl your btc for long term.
Bitcoin is always a better option because to be honest there's no rewards when it comes holding fiats and even you make investment you cannot get good return from it., unlike bitcoin wherein despite of being so volatile you can assure that at the end of the day you can make massive profits in it especially if you hold it for long term as it keeps improving and getting matured because of adoption..
Well there are different perspective in the word HOLDING.There are others that wanted their funds to be On hold so they have funds to withdraw everytime they needed , (Without any less, i mean completely) that is why they tend to Hold fiat.
There are people that wanted to Hold their funds to Make a profit and that is why they are putting this in crypto specially in Bitcoin, but the problem is when time of emergency withdrawal. because they can lose the amount when dumping happens .
Bitcoin is always a better option because to be honest there's no rewards when it comes holding fiats and even you make investment you cannot get good return from it., unlike bitcoin wherein despite of being so volatile you can assure that at the end of the day you can make massive profits in it especially if you hold it for long term as it keeps improving and getting matured because of adoption..
Yes, that's right, bitcoin always rises in price in the long run, but you need to choose the time to buy it, because if you buy when bitcoin is at its ATH, then you will have to wait for profit much longer than if you bought it at the time of the market subsidence. Buy low - sell high, a simple tip that can help you become wealthy faster.
Will governments and important people reach this conclusion this year?
For this year, maybe not, especially the government which in many cases is the biggest opponent of bitcoin because of its freedom so maybe the government will lose its power over the people's economy. Maybe one day if the government has found a way to still be able to benefit from the presence of bitcoin from a power point of view they will think the same thing as above.
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:
So as you can see, Ricardo Salinas Pliego has come to the conclusion that bitcoin is a better alternative to fiat money.
Will governments and important people reach this conclusion this year? (I think these events could cause BTC to cross the 36,000 channel)
Source: https://www.btimesonline.com/articles/153553/20220204/ricardo-salinas-pliego-mexican-billionaire-bitcoin-fiat.htm
I like this person's thinking, big respect to him...Quote
"Government intervention has always been a factor in setting the gold standard," Salinas explained. "And fiat enables infinite financing."
So as you can see, Ricardo Salinas Pliego has come to the conclusion that bitcoin is a better alternative to fiat money.
Will governments and important people reach this conclusion this year? (I think these events could cause BTC to cross the 36,000 channel)
Source: https://www.btimesonline.com/articles/153553/20220204/ricardo-salinas-pliego-mexican-billionaire-bitcoin-fiat.htm
the controversial line I like about him is when he says "fiat is the biggest scam". it is not easy for a businessman who still relies on a state regulation to say that but he dares to firmly say it, he must be ready with the possible sanctions that will be imposed on him, trully brave man.
I would say bitcoin is better in some many ways compare to fiat currency. We can use bitcoin as a form of money,purchase goods and services, remittances, basically the same way we use fiat currencies today. And also we can use it as a storage of wealth and investment.
Unlike fiat money, we can only used it to pay our daily needs, bills and taxes. Bitcoin is harder to lose than fiat money because it is digital.
Unlike fiat money, we can only used it to pay our daily needs, bills and taxes. Bitcoin is harder to lose than fiat money because it is digital.
it is good for investing but not for transacting, because the price is not fixed so we as owners can feel a loss if bitcoin is in a period of correction,
and I'm not sure all countries accept the existence of bitcoin cs, into their government, because fiat is easy to regulate even though it always results in inflation
and I'm not sure all countries accept the existence of bitcoin cs, into their government, because fiat is easy to regulate even though it always results in inflation
it won't be easy bitcoin Replacing Fiat Money.
Fiat money is a legal tender and will always exist and cannot be replaced. Fiat money is easy to regulate and has become a basic thing in the country even though inflation often occurs.
all countries do not agree with bitcoin only a few countries agree with bitcoin even though a small part is only for investment assets not for legal payments. Bitcoin in my opinion is vulnerable to money laundering and corruption because it is not easy to trace. and this is a fatal thing in the state that must be avoided.
Personally, I think bitcoin is better than fiat currency for investing not for transactions, because there are certain countries that don't accept exchanges that do bitcoin, like in my country bitcoin can't buy anything, in contrast to El Salvador, which has..legalized bitcoin, and already accepted bitcoin as a legal currency..
I think I agree with this because some countries will not accept bitcoin as a payment system as they already trust their fiat but can accept bitcoin as an investment instrument. That will help people buy bitcoin, keep it in their wallets, and only sell when they need money. I think it will be better for bitcoin in the country, and I think that will not break some country regulations that there is no other payment system than their fiat. We can not even force the government to accept bitcoin as a payment system, especially if they do not have a plan to add bitcoin shortly. Maybe they will change their minds and accept bitcoin in the future. it is good for investing but not for transacting, because the price is not fixed so we as owners can feel a loss if bitcoin is in a period of correction,
and I'm not sure all countries accept the existence of bitcoin cs, into their government, because fiat is easy to regulate even though it always results in inflation
I do agree with you on that and not only during market correction but because of that volatility when you spend Bitcoin on depreciating assets, it seems like you have waisted that amount of Bitcoin cos I remember a post some week ago about some investors buying an iPhone with Bitcoin and even when most think it was good news that Bitcoin was been accepted in many retail shops now but most believed that asset has a depreciating value compared to Bitcoin so, Fiat is still good in terms of daily transactions while I do appreciate my Bitcoin more as an Investment. and I'm not sure all countries accept the existence of bitcoin cs, into their government, because fiat is easy to regulate even though it always results in inflation
I wouldnt compare fiat money and bitcoin, because both of them are useful in some different ways. Both are essential need to survive during this days..
Bitcoin can be used as an alternative payment (remittance), storage of wealth and gonna also use for investment and trading. While fiat is used to purchased our daily needs or used for day to day transactions, paying bills and etc.
Bitcoin can be used as an alternative payment (remittance), storage of wealth and gonna also use for investment and trading. While fiat is used to purchased our daily needs or used for day to day transactions, paying bills and etc.
In fiat the countries have their own coin which is needed for their transactions and economy still it has an impact if the price or the value of it might go down sees that the government must need to take an action on it. Also the reason too why the government would like to use fiat than cryptocurrency of course they don't have any control over it its decentralized the reason why they need to make a way to be centralised at the same time adopt the innovation. In my country, they created an exchange also a centralized wallet to manage the transaction of each user.
I think both Bitcoin and fiat have their advantages and I'm not sure if the government will accept Bitcoin or other crypto better than fiat. We know that Fiat becomes the main currency of a country and it will be difficult to shift it. Although Bitcoin is increasingly known by the public but not everyone can accept it compared to Fiat. Personally, I prefer Bitcoin but I can't leave fiat either. I mean both can be used together and Bitcoin will be better for investment not for transactions even though Bitcoin is supported by advanced technology but still it can't displace Fiat in a country.
We can't say this same sentiment for other people. Because the population of crypto users is still very small as compared to global population. In my opinion, a lot of regular individuals still prefer fiat because they are more knowledgeable about it. With crypto, you can't expect everyone that they know how to transact with crypto. For most people, I think, they are still more comfortable dealing with fiat. Crypto has their pros and cons, so for crypto users already, we can always take this opportunity as an advantage to enrich ourselves in this industry.
I think both Bitcoin and fiat have their advantages and I'm not sure if the government will accept Bitcoin or other crypto better than fiat. We know that Fiat becomes the main currency of a country and it will be difficult to shift it. Although Bitcoin is increasingly known by the public but not everyone can accept it compared to Fiat. Personally, I prefer Bitcoin but I can't leave fiat either. I mean both can be used together and Bitcoin will be better for investment not for transactions even though Bitcoin is supported by advanced technology but still it can't displace Fiat in a country.
We can't say this same sentiment for other people. Because the population of crypto users is still very small as compared to global population. In my opinion, a lot of regular individuals still prefer fiat because they are more knowledgeable about it. With crypto, you can't expect everyone that they know how to transact with crypto. For most people, I think, they are still more comfortable dealing with fiat. Crypto has their pros and cons, so for crypto users already, we can always take this opportunity as an advantage to enrich ourselves in this industry.
I think both Bitcoin and fiat have their advantages and I'm not sure if the government will accept Bitcoin or other crypto better than fiat. We know that Fiat becomes the main currency of a country and it will be difficult to shift it. Although Bitcoin is increasingly known by the public but not everyone can accept it compared to Fiat. Personally, I prefer Bitcoin but I can't leave fiat either. I mean both can be used together and Bitcoin will be better for investment not for transactions even though Bitcoin is supported by advanced technology but still it can't displace Fiat in a country.
Even though bitcoin isn't widely accepted in most countries and by most sellers, it is still a much superior alternative when compared to fiat.
The fact bitcoin fights back inflation efficiently is already a good reason to consider bitcoin a viable currency for every aspects of daily life or long term goals.
Unfortunatelly most people can't see how they can be benefited by adopting bitcoin, so they don't create demand for it on the market, what doesn't incentivize sellers to also accept btc as payment method on their shops.
And then we have this situation related by many, which doesn't allow them to use bitcoin as currency on their countries.
The fact bitcoin fights back inflation efficiently is already a good reason to consider bitcoin a viable currency for every aspects of daily life or long term goals.
Unfortunatelly most people can't see how they can be benefited by adopting bitcoin, so they don't create demand for it on the market, what doesn't incentivize sellers to also accept btc as payment method on their shops.
And then we have this situation related by many, which doesn't allow them to use bitcoin as currency on their countries.
I'm not going to say it was a better option over fiat as even we go in different places, fiat money is highly acceptable than the use of Bitcoin. Maybe this happen many years from now if major countries and establishments are accepting Bitcoin, not today.
In fact, here in my place, I'd never enjoyed using it, I still converting it to fiat money. Just for now, Bitcoin for me is totally considered as an investment, not a currency to buy things. I'm just looking forward to being accepted in our country like fiat, I'm not hopeless anyway as seeing the adoption is growing.
In fact, here in my place, I'd never enjoyed using it, I still converting it to fiat money. Just for now, Bitcoin for me is totally considered as an investment, not a currency to buy things. I'm just looking forward to being accepted in our country like fiat, I'm not hopeless anyway as seeing the adoption is growing.
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