Crypto vs Fiat - page 6. | Bitcointalksearch.org

AndySt

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Quote from: AmoreJaz on June 05, 2021, 07:27:39 PM

Quote from: ethereumhunter on June 04, 2021, 07:25:46 AM

I do not need to compare crypto and fiat because crypto and fiat have different purposes. For me, crypto is a new investment and could be used to pay for something in the store. Fiat is a currency that I still used daily, and fiat can not be my investment. Gold will be like crypto and it can be an investment, but the gold price will not move too volatile. We all use crypto and fiat both in our lives, and until crypto can be used to pay or buy something in real life, we can use crypto for the investment.

people will always compare crypto and fiat, but let's admit the fact that most of us are still relying on fiat and that will not change anytime soon. up until now, only small population are into crypto, though adoption is increasing day by day. for those crypto users, just be grateful that you are oriented in this technology, and that you may find benefits to your advantage. but don't expect that everyone you know of will be in favour of using crypto or investing in crypto.
the volatility is the reason why many of us like bitcoin or other alts to be included in our investments, however, because of such feature, we can also lose big time if we are not careful with the market.

You correctly said about a small part of the population that uses cryptocurrency. Exactly the same can be said about the same small part of the population that will compare the fiat currency and cryptocurrency. This is a fairly popular topic, but only in strictly defined circles, and the ordinary population does not have such a comparison problem. People in any case, even in the near future, even in the distant future, will still rely on fiat currencies simply due to the fact that the states will prescribe to do this and put the main emphasis on it, even in the field of economic management, even in the field of public administration. Here, the sphere of investment or use as a speculative asset is a completely different story, here the state and citizens have a very good platform for cooperation.

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Quote from: ethereumhunter on June 04, 2021, 07:25:46 AM

I do not need to compare crypto and fiat because crypto and fiat have different purposes. For me, crypto is a new investment and could be used to pay for something in the store. Fiat is a currency that I still used daily, and fiat can not be my investment. Gold will be like crypto and it can be an investment, but the gold price will not move too volatile. We all use crypto and fiat both in our lives, and until crypto can be used to pay or buy something in real life, we can use crypto for the investment.

people will always compare crypto and fiat, but let's admit the fact that most of us are still relying on fiat and that will not change anytime soon. up until now, only small population are into crypto, though adoption is increasing day by day. for those crypto users, just be grateful that you are oriented in this technology, and that you may find benefits to your advantage. but don't expect that everyone you know of will be in favour of using crypto or investing in crypto.
the volatility is the reason why many of us like bitcoin or other alts to be included in our investments, however, because of such feature, we can also lose big time if we are not careful with the market.

verita1

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I live in a country with inflation, all my income is obtained in bitcoin and cryptocurrencies. I prefer to only make use of them to spend on my daily needs, while my savings in crypto are destined for a long time. This is my life in crypto, I love this life and it is the one I want my family to take as an example.
I think that Bitcoin and cryptocurrencies are here to stay that there will be no one who can take it out of our lives.
The best of Bitcoin is yet to come.

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Quote from: affandi on June 04, 2021, 12:34:33 PM

Quote from: ?? on ??

Both cryptocurrency and fiat currency are important, they have both purposes and uses in this world. We should not be bias in cryptocurrency just because we are here in this forum because we all know that fiat currency is still really important now adays, there are still so many things that cryptocurrency cannot buy and fiat currency only can be, cryptocurrency is good as an asset and good for holding in a long term and that is its main purpose for me.

it's true that both are equally important, because fiat is a legal means of payment in every country while crypto is still categorized as a commodity asset, even I hold 50% fiat and 50% more assets, especially in crypto and gold.

if we can share it like you, then later financial freedom can be achieved. By placing their respective functions, cryptocurrencies are assets that are not affected by inflation, even tend to increase in value

affandi

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Both cryptocurrency and fiat currency are important, they have both purposes and uses in this world. We should not be bias in cryptocurrency just because we are here in this forum because we all know that fiat currency is still really important now adays, there are still so many things that cryptocurrency cannot buy and fiat currency only can be, cryptocurrency is good as an asset and good for holding in a long term and that is its main purpose for me.

it's true that both are equally important, because fiat is a legal means of payment in every country while crypto is still categorized as a commodity asset, even I hold 50% fiat and 50% more assets, especially in crypto and gold.

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I do not need to compare crypto and fiat because crypto and fiat have different purposes. For me, crypto is a new investment and could be used to pay for something in the store. Fiat is a currency that I still used daily, and fiat can not be my investment. Gold will be like crypto and it can be an investment, but the gold price will not move too volatile. We all use crypto and fiat both in our lives, and until crypto can be used to pay or buy something in real life, we can use crypto for the investment.

Leviathan.007

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Comparing between cryptocurrencies and fiat is maybe not a good idea because these are two different thing with two different features and ways. I would say crypto is not an actual currency but it's an asset. As you mentioned, things like inflation rate can make the fiat money worthless time after time, here is why people use crypto and gold to save themselves from losing money. even during the short bearish period the investors of bitcoin are still taking profits and this will show how fiat is losing it value against crypto.

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Nowadays many people know cryptocurrencies and want to invest in them, if we have unused money to save it is good to invest in crypto, but if the money to fulfill daily life is used for cryptocurrency investment then it will be very risky, because considering highly volatile cryptocurrency investment

You might want to take a little bit of caution with this advice of putting the spare money in investment, don't put everything in an investment, especially with a volatile one like bitcoin. Take it easy in investing because there is a lot of unforeseen events that may need a lot of money and you put it all in investment which is going to leave you with no choice but to get it out prematurely. For me, crypto is a really good investment and fiat is a useful tool that I can use to buy services and products.

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Welp, that was awkward. lol. Bitcoin or any alternative coin in this industry aren't the only ones a person can invest on. Clearly, you are way too focused on bitcoin right now that you forgot about this. Also, you were giving a sense of ignoring others and focusing on bitcoin. Just think about it, who in their right mind would even invest a hundred percent on bitcoin alone? There obviously are a lot of okay to great investments in and outside of this industry that are also great for the purpose of storing value. Or maybe you just mean that letting your money stay idle without gaining anything is wrong? If that's the case then, well I strongly agree with you.

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Quote from: Pokapoka124 on May 28, 2021, 05:10:47 AM

If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank.
#Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.

The worst thing is that governments try to justify this by saying that even if the crash in their currency is massive over a long period of time the economy has roughly grown just as much which means that people are roughly earning as many inflated dollars as the people were earning dollars backed by gold but this is a false premise, the economy would have grown anyway as we would had all of those technological advances and they are trying to mix those two concepts to confuse people and make it seem as if they have been doing a good job when that is not the case.

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Quote from: Pokapoka124 on May 28, 2021, 05:10:47 AM

If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank.
#Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.

What you wrote is simply a way of saying Gold is a good store of value and so we should accumulate as much gold as possible. While I understand your point, your objects of comparison are absolutely wrong.
While you want us to buy crypto instead of fiat, you compared fiat with gold.

Anyways, crypto is better than fiat not only in the fact that it's a good store of value, the other benefits of bitcoin over fiat such as anonymity and low transaction fees are more than enough to use bitcoin over fiat

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Quote from: dmamigo on June 03, 2021, 04:30:58 AM

In my opinion, comparing crypto with fiat is useless because both of them have to survive together with their uniqueness. Both of them are reliant on each other as the government will never choose crypto over fiat. They can co-exist but they can never replace one another.
Cryptocurrencies and fiat both have disadvantages as well like valuation, fees, inflation, etc. Hence, they will be dependent on each other somehow or the other.
For example, we still have to purchase cryptocurrencies using fiats and we still spend our earnings from crypto in the form of fiat after exchanging it most of the time.
Regarding Gold, it will always hold a separate position in investors' minds because it is completely different and not any form of currency.

Apart from comparing the two which are "less" relevant, I think there are still some sides that make people compare the two. besides that, both can also play the same role in the current financial system, where crypto is better than fiat and the banking system is not good for the community, imo

dmamigo

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In my opinion, comparing crypto with fiat is useless because both of them have to survive together with their uniqueness. Both of them are reliant on each other as the government will never choose crypto over fiat. They can co-exist but they can never replace one another.
Cryptocurrencies and fiat both have disadvantages as well like valuation, fees, inflation, etc. Hence, they will be dependent on each other somehow or the other.
For example, we still have to purchase cryptocurrencies using fiats and we still spend our earnings from crypto in the form of fiat after exchanging it most of the time.
Regarding Gold, it will always hold a separate position in investors' minds because it is completely different and not any form of currency.

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Quote from: Pokapoka124 on May 28, 2021, 05:10:47 AM

If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank.
#Bitcoin is down 4% today. But next few months BTC could pump 400%. Pump or dump, storing your money in crypto beats saving up in the bank.

Surely, gold's value increases as time passes by. It is one of the nicest investment assets if you'll look it up on the Internet. However, also put into consideration the hyperinflation that happens as the world moves forward. It also plays a role in why certain assets have a price value higher than it was declared years ago.

Crypto is a good investment, no doubt. But also put in mind that it is a speculative asset. Nothing is ever certain so I never recommend putting all your eggs in one basket. You have to diversify your funds because it's so risky to store them in one place. If a bad thing happens at that specific platform that you have invested all your wealth, you'll end up having nothing in a snap.

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Quote from: DarkIT on June 02, 2021, 07:11:37 PM

We are doing the trade to earn more from the fiat money.Because,we just keep the money.It won't increase to any value.And cryptocurrency are the good platform to get good profit in a short period.So invest your money in reputed coin like bitcoin,ethereum. Deciding is important one in cryptocurrency ,when to buy and at what price.

for now in the end it must be realized with fiat, because only fiat is flexible to buy various goods we need. By utilizing the function of cryptocurrency for trading and investment, profits from these activities can be exchanged in fiat currency and entered into bank accounts that have been legalized by the government.

DarkIT

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We are doing the trade to earn more from the fiat money.Because,we just keep the money.It won't increase to any value.And cryptocurrency are the good platform to get good profit in a short period.So invest your money in reputed coin like bitcoin,ethereum. Deciding is important one in cryptocurrency ,when to buy and at what price.

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If you look at how the value of fiat changed over time, you would see that it started by it being a replacemnt for gold to make transactions much more easier so it got its value from that and worked for a while until governemnt just decided that thye can just print more and decied the value as they whish just because they can and have the power to, and that where bitcoin and other crypto came here to change, they are currencies that get their value from the poeple they use it and its value will only increase over time.

sapnu

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Times has changed for people when it comes to money. Before the existence of crypto, everyone used to put all of their savings or investments in the bank but now that bitcoin and other crypto appeared, there are more people who are choosing to invest on it rather than in banks. The volatility in bitcoin is much higher regardless if it is upwards or downwards while in banks, your money is just slowly growing but it is assured that the price is going upwards. You should rather be on investment that goes high once or go down for s bit but as its value plummets you will gain most of the benefit and that is on crypto.

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Although some think that cryptocurrencies will eventually replace fiat currencies the two offer different advantages. A common criticism of fiat money is its sensitivity to inflation local governments can increase the supply of money at will reducing its value over time in the worst case scenario economic instability can lead to hyper inflation which rapidly reduces the value and perceptibility of the fiat currency bitcoin the most popular cryptocurrency in the world has a fixed supply of 21 million worth of coins. Due to the limited supply, many people prefer to hold bitcoin without using it as a medium of exchange.

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Quote from: charlesmichel1 on May 29, 2021, 10:04:19 AM

Amazingly. Hyperinflation will make the US dollar useless one day.

Its happening in some countries already and it can also happen to a rich country if they failed to control the economic crisis. We have to understand the value of our fiat money today will always worth less in the future because of inflation, and the purpose of investments like in cryptocurrency is to beat those inflation. We have to know what’s best for out money and don’t just settle on fiat money, look for ways to make it more valuable.

Topic: Crypto vs Fiat - page 6. (Read 1217 times)