Topic: Bitcoin Vs Cash which is more secure - page 3. (Read 523 times)

The term secure holds different meaning with fiat and with cryptocurrency. Based on the fact, fiat is secure in one way and cryptocurrency in the other way.

For users who wants the cash to be under their control, bitcoin is the best choice against fiat. For users who doesn't care of someone having control over our funds this isn't an issue.

Bitcoin is secure as it can't be faked whereas fiat can be faked and unlimited which makes it worse.

This is totally true or fact which they do really represent out pro's and con's when it comes to payment structure or utility overall.There are indeed people who do really value anonymity and there are ones
who doesn't really care since fiat and other typical digital transactions could really do the job, which it isnt really that already necessary for them on using up other payment methods.
There are people who do also making some switch up in between and just like you said where it would be totally depending on what you do need on particular situations
or transactions.You are the ones who would be finding out on which one is better and which one is not.

Fiat is fine for me as local transactions but when it comes to paying online I can not go for credit or debit cards. Shopping sites or other websites can read all my data. It doesn't make sense to me.
It is a relief that nowadays some of the big companies or shopping sites are accepting bitcoin and other coins as payments.

The conclusion is actually more complex than that. Each payment method has its pros and cons, and different users have different requirements. For some privacy is critical, for others its not a concern. A drug dealer has different concerns than someone who buys groceries in the nearest supermarket. Or things like being able to make transactions across borders are only a benefit if you plan to make such transactions.

Payment cards and cash still represent nearly all financial transactions because they suit the needs of people.

Sorry but how is cash transactions anonymous? Except if the cash you are referring to here is not the physical cash we spend, that is otherwise known as fiat,  then I would like to know the type of cash you are referring to as anonymous, because to me, cash transactions are nothing near to being anonymous.
Cash and credit/debit card transactions are the most centralized form of transactions, anything centralized is not anonymous...
This is my opinion though.


Fiat, otherwise known as cash can be sent to people or some one afar of, through western union, money gram and the likes, the down side is that, it is highly centralized, takes days if not weeks and months before the receiving party gets the package, and it also cost alot in fees as well.

Yeah, I agree with you on this one, bitcoin is a decentralized currency and payment system, highly efficient and absolutely secure and boarderless

Cash has counterparty risk, while Bitcoin doesnt. It cant really compete with Bitcoin in long term security, because theres no security mechanism to prevent cash from getting inflated, getting replaced by new currencies or being taken out of circulation by policies for example. This is the bigger flaw of cash in terms of security, which basically makes it an insecure store of value.

Cash payment is done offline, when spending with paper money no real identity is needed. A buyer can spend their currencies without the bank coming into the picture, no name required because the receiver doesn't need the name of the buyer for transaction to be completed. Bitcoin does hide identity but it is not completely anonymous. Despite Bitcoin not requiring identity to own some coin and spend them the public ledger reveals every transaction on different bitcoin block explorer and as such merge transactions of a particular wallet together and can lead to one's identity been revealed if caution isn't taken.

Where the limitation of cash payment come in is where it involves distant transaction, one that cut across distant boarders and bulky transactions that will seems risky to move with cash. Credit cards over the years substituted for this but we sold out our identity in exchange to execute our transactions using cards that got our full information tied to.

Bitcoin on the other hand doesn't work in an offline manner. But the advantage it has is no central server is required but a peer-to-peer network keep the ledger trusted and immutable which is the only way to provide a data that cannot be tempered on nor nullified since every transaction that goes into every block is confirmed by participating nodes.

Why will Bitcoin remain most preferred over every other traditional payment option including cash is thus:

CREDITCARD	CASH	BITCOIN
Not anonymous	Anonymous	Pseudonymous
Distance transaction	Local transaction	Boarderless transaction
Central Sever	No server needed	A p2p server needed
Smart Spending	Risky Spending	Smarter Spending
Funds hardly noticeable	Bulky Sums obvious	Not Noticeable since it has no physical form
Can be Compromised	No compromise	Fully trusted

Cash transaction would have been a perfect option for 100% anonymous transaction but it cannot be sent to some one who is afar off. Bitcoin stands out as the perfect option not as an anonymous tool but as a private coin with no central server.