Fiat and Bitcoin - The Two Brothers - page 2.

Fundamentals Of

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Quote from: KingsDen on June 02, 2021, 09:06:42 AM

Please I need some help. Did I get any of the above concepts wrongly.

Yes. Many of them are probably wrong including the ones below.

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While the former is seeking local recognition and dominance, maybe known small in the international market, the later is seeking international recognition, irrespective that is young.

Fiat is not seeking local recognition and dominance because it is the one and only legal tender and therefore fully recognized and dominant locally.

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The former is tested and trusted while the later is tested but not widely trusted.

Fiat is not trusted but, yes, sufficiently tested. The result of the tests, however, is that it cannot be trusted. On the contrary, Bitcoin is not yet tested but more or less trusted.

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While the former growth is slow and steady, the later is rapid in growth and can aswell reverse its growth rapidly.

Fiat is not growing. It is declining in worth. That's its design.

isaac_clarke22

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Quote from: KingsDen on June 02, 2021, 09:06:42 AM

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While the later is better for exchange, the former is better for investment.
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Bitcoin at this point is "okay" with both.
I can pay bills and buy merchandise with the use of third-party apps.

I can hold as well for long-term investment.
I think it should be "While the former is widely used for payment, the latter can be used both for payment and investment"

KingsDen

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Goodnight, o_e_l_e_o 🌹

Fiat and Bitcoin are brothers but the differences are;
while the former is the elder, the later is younger.
While the former is seeking local recognition and dominance, maybe known small in the international market, the later is seeking international recognition, irrespective that is young.
The former is tested and trusted while the later is tested but not widely trusted.
While the former growth is slow and steady, the later is rapid in growth and can aswell reverse its growth rapidly.
While the later is better for exchange, the former is better for investment.
While the former is a local man that can exist without his brother, the later is an international man that cannot exist without his brother.
While the former can be manipulated by the authorities that created it, the later is also manipulated, but not necessarily by the creators only.
While the former uses ledger to keep records of financial transactions, the later uses blockchain technology.
While the former's future is determined, the later future is not determined but seems very bright.

Please I need some help. Did I get any of the above concepts wrongly.

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