When you read deeper, maybe this is no longer a matter of choice. Because what you're looking for is safe, inheritable hedge storage. As we now know, third parties can be regulated in various forms or methods. For example storing the phrase seed in the SDB including fiat account wills at once. So I would choose both to balance ownership while maintaining fiat or Bitcoin value.
That’s a way lot safer. We can never guarantee that bitcoin will always be secure and stable, so we need fiat too so we can balance whatever wealth we opt to gain. For me, that’s more practical way of thinking than to stick with bitcoin because of its current high value. We don’t need to replace fiat for bitcoin, we need them both for better security and stability of our ownership particularly in our finances. 
Topic: Given an option between Bitcoin and Fiat which do you prefer? - page 2. (Read 573 times)
I think it's impossible to completely abandon fiat money now. You can make everyday purchases with it and not worry that somewhere your money will not be accepted for payment.
Bitcoin is needed for investing and saving money. I can't just spend bitcoin on some trinket, because I hodl it in the long term. I know I won't be selling it anytime soon.
Obviously, it's now more convenient to use both Bitcoin and fiat money.
Bitcoin is needed for investing and saving money. I can't just spend bitcoin on some trinket, because I hodl it in the long term. I know I won't be selling it anytime soon.
Obviously, it's now more convenient to use both Bitcoin and fiat money.
Both options are good.For me Bitcoin is another asset for savings and also a chance to increase capital,but there is also a chance that I can lose in price and have to wait for the price to return to its previous value, yes, this is a risk, but I'm ready for it.Bitcoin has both pluses and minuses as an investment a big minus for me is that I will not be able to quickly convert it into the national currency it will take several days.for me, this is the most fallback option that takes time to convert.
There are pros and cons to both, but most people will choose both because, first, you can't still purchase almost everything using bitcoin, and it is also banned in other countries, while fiat has been widely used ever since and is really established, although, as you know, there are still loopholes in it. So I would be choosing both of them because I use bitcoin as an investment and fiat for spending to meet my needs.
When it comes to fiat, you don't have the option to keep your cash yourself in an online wallet, rather you need a 3rd party platform like a bank or any online payment service to keep your money. Where in bitcoins, you don't need to have those things rather just one unique bitcoin wallet can suffice for you and you don't need to worry about your fund getting stuck in the bank when they want to hold it, in bitcoin personal wallet, there's nothing like that rather you have all the means to control your funds whenever you like and also you can take it all at once without any problem at all.
if it talks about being safer to store then Bitcoin is indeed safer. because As long as we keep it in the wallet with the restorer phrase in our hands and no one knows but ourselves. and means we are in full control of our bitcoin assets.different from money that we can only keep in physical form or if we save it in a bank, we have actually handed over control to the bank. even if at any time suddenly the bank goes bankrupt there is not much we can do.
but because currently bitcoin has not become a legal tender in almost all countries except in El Salvador. then we also have to realize that we must always exchange our bitcoins to fiat first to make payments. so Fiat is still the most important thing today.
I will choose both for now because I can support myself and my family with fiat, while with bitcoin, I can have additional investments in crypto.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.
Choosing both of them is not bad, it is a good idea because both of them are still very much useful and recognized but one recognized than the other and they are still of good value. The fiat as you have said I locally acceptable by any given government based on their fiat arrangements and value while the bitcoin on the other side is a digital currency which is globally recognized but many are still yet to adopt it which is where the barrier lies. Most firms and organizations are yet to look into it as a legal tender because of its volatility. However, many see it as a store of value irrespective of the fact that it is volatile. If one can just invest in the bitcoin for a long time and do away with the thoughts of it, I think it would be okay while being engaged in other activities.
I will choose both for now because I can support myself and my family with fiat, while with bitcoin, I can have additional investments in crypto.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.
True. Most of us can't use Bitcoin directly anyway in our countries I think. It's possible to buy something only maybe, but not food or clothes. Even if you get only Bitcoin you need to withdraw it to use.
I don't think both are not important as far as I am concerned. Literally, I can say we have the best Investment asset alive now i.e. BTCitcoin, and if you are talking investment you are definitely looking at returns which to most Bitcoin investors is the amount in Fiat currency they can get to spend on personal needs and that is just about a lot of countries where you cannot spend Bitcoin directly on daily needs.
As you can see that both are important even if it was just in this term.
As you can see that both are important even if it was just in this term.
I will choose both for now because I can support myself and my family with fiat, while with bitcoin, I can have additional investments in crypto.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.
Looking at the two options, none of them are irrelevant. Both currencies are more valuable as they are of economic importance in the society. If it is to choose, i would prefer to choose both of them reason being that; fiat is the general local currency known and accepted by the government and the people, it is used in the day to day activities and most popular as it is the first to be confirmed as a legal tender. The fiat has been in existence since ages before the inception of the bitcoin while the bitcoin is a modern day digital technology designed to function as a digital currency globally. The bitcoin is yet to be adopted globally but to some extent, it has been recognized and the people are aware of the benefits involved. Bitcoin can better serve as a store of value.
As bitcoin is, it has the tendencies to appreciate high in price compared to fiat which is stable, bitcoin has no third party custody unless you have it stored in exchange if not you are solely incharge of it which means you have your private keys and phrase under your custody compared to the fiat which is been held by banks and other financial institutions.
As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?
You opinions and thoughts are welcomed, let us discuss.
As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?
You opinions and thoughts are welcomed, let us discuss.
between Bitcoin and Fiat each has its own charm, reasons to be liked, and of course has its own advantages and disadvantages. i think being able to have both is a good thing for all of us.
In my opinion, Bitcoin does have good potential, but Bitcoin is very risky because it is fluctuating and unpredictable and currently not everyone knows and can use it because it has not been fully accepted in every country.
while Fiat has been used by everyone around the world and for all of us Fiat is like the main need to buy whatever we need everyday.
I don't know, it's too early to judge, no one can predict when and whether Bitcoin will eventually be accepted as legal tender worldwide.
Let us accept the fact that right now, most governments won't accept btc as legal tender as they have their own fiat.
They may create their own CBDC to cope up with the digitalization of currency.
They may create their own CBDC to cope up with the digitalization of currency.
They don't even have to accept as legal tender. That's enough for us if they stop putting unnecessary restrictions to use Bitcoin as money. In my country I can trade Bitcoin legally but can't use it to buy any goods. So I have to sell my coins to get national currency and spend it. How silly it sounds, right? For that reason I always have to allocate some fiat money to regular expenses.
There is no need to even make comparisons on the investment side. While one side is constantly losing its value, the other side is gaining in value in time.
I'm responding through the caution or subject of the thread, base my personal research on the bitcoin and fiat currency, its very obvious when you emphasis on the aspect preferable currency many people will prefer fiat currency than bitcoin because its very obvious that fiat currency is a traditional currency in which many people has been acclimatised with, and before they can leave fiat and trust fully on the bitcoin it will take years, this illustration is been portray by me based on the existence of fiat currency has been in worldwide for years and the bond people have with fiat is like 85% than the of bitcoin. The people who value bitcoin mostly is the youths because bitcoin is called for easy transactions across the nation.
When it comes to fiat, you don't have the option to keep your cash yourself in an online wallet, rather you need a 3rd party platform like a bank or any online payment service to keep your money. Where in bitcoins, you don't need to have those things rather just one unique bitcoin wallet can suffice for you and you don't need to worry about your fund getting stuck in the bank when they want to hold it, in bitcoin personal wallet, there's nothing like that rather you have all the means to control your funds whenever you like and also you can take it all at once without any problem at all.
As we all know, bitcoin has been trending for a long time now and has been recognized by nation's and individuals globally. Irrespective of the fact that bitcoin is a digital currency, it is highly volatile and risky and if you must invest in it, you must use your spare cash or funds which you can be able or afford to loose. Many people use bitcoin as store of value ie they use it to store their assets and wealth after converting from Fiat to bitcoin. It is otherwise a savings account to many as they see it so. With bitcoin your privacy is guaranteed compared to the Fiat which you must pass through processes before having access to it.
Fiat is stable enough to sustain it's monetary value but can not guarantee a stable economy as it was designed for. Fiat exchange value varies between nation's as it is measurable in the economical value each nation has and is contributing to the global market GDP but as a national tender it is, it is still of value because that is the only means by which one can exchange for goods and services compared to bitcoin depending on the country in which you are if they truly recognizes bitcoin as a legal render.
As bitcoin is, it has the tendencies to appreciate high in price compared to fiat which is stable, bitcoin has no third party custody unless you have it stored in exchange if not you are solely incharge of it which means you have your private keys and phrase under your custody compared to the fiat which is been held by banks and other financial institutions.
As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?
You opinions and thoughts are welcomed, let us discuss.
Fiat is stable enough to sustain it's monetary value but can not guarantee a stable economy as it was designed for. Fiat exchange value varies between nation's as it is measurable in the economical value each nation has and is contributing to the global market GDP but as a national tender it is, it is still of value because that is the only means by which one can exchange for goods and services compared to bitcoin depending on the country in which you are if they truly recognizes bitcoin as a legal render.
As bitcoin is, it has the tendencies to appreciate high in price compared to fiat which is stable, bitcoin has no third party custody unless you have it stored in exchange if not you are solely incharge of it which means you have your private keys and phrase under your custody compared to the fiat which is been held by banks and other financial institutions.
As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?
You opinions and thoughts are welcomed, let us discuss.
Certainly I prefer Bitcoin. Bitcoin is the new FIAT, money v2.0 or whatever else you can call it. It's just superior to FIAT in every possible way, starting from finite supply and being a deflationary asset to being unconfiscatable and better for anonymity and privacy. How can you even compare it to some sorry FIAT?
We cannot compare the two of them since they are both different when it comes to people's perspective.
Fiat is the money that we are using for our expenses while crypto is being used or seen as an asset or investment.
Others do consider crypto as money and use it to pay whatever they want but that doesn't apply to everyone of us.
Even if crypto could be used or accept as a payment method not everyone would use it as a payment option.
Fiat is the money that we are using for our expenses while crypto is being used or seen as an asset or investment.
Others do consider crypto as money and use it to pay whatever they want but that doesn't apply to everyone of us.
Even if crypto could be used or accept as a payment method not everyone would use it as a payment option.
I hold the two for different reasons and purposes. I use bitcoin for investment purposes not for making any daily transaction related. But for fiat, I hold that for my daily transaction which is for my basic need. I will love to hold the two even if bitcoin is accepted as a legal tender in my country.
Let us accept the fact that right now, most governments won't accept btc as legal tender as they have their own fiat.
They may create their own CBDC to cope up with the digitalization of currency.
I can say, I am just grateful to know the bitcoin world but the truth is we still need fiat in our everyday living.
The volatility factor is one of the features of btc, which is good for investment, whereas, fiat is still the mainstream currency to do all our daily transactions.
BTC is unlikely to become legal tender around the world as governments in many developed countries are now creating their own CBDCs. They’ll promote their CBDCs and hold back mass adoption of BTC.
But that doesn’t mean that people and companies themselves won’t want to accept and pay for many goods and services with BTC. Only in most cases it’ll be done through conversion to fiat (or CBDC), as before.
But that doesn’t mean that people and companies themselves won’t want to accept and pay for many goods and services with BTC. Only in most cases it’ll be done through conversion to fiat (or CBDC), as before.
I guess I’m greedy and would very much prefer to have both, thank you . But if I had a gun to my head and being forced to choose one, I think I might just go for the option which I could easily use to purchase whatever I would want aka Fiat currency.
Unfortunately, bitcoin is not accepted or used worldwide and as much as I would have loved bitcoin as a mode of payment, I would go for something I could use anywhere anytime.
Besides today, there are only a handful of vendors that would accept bitcoin as payment for services rendered as majority would accept fiat and so one would eventually have to exchange your bitcoin to fiat in order to make purchases.
While bitcoin is attractive enough to acquire and hold cause of its many advantages and potentials, I think it’s safer to go with what is globally accepted and used. Thankfully, there is no gun to my head and I don’t have to choose between the both of them.
. But if I had a gun to my head and being forced to choose one, I think I might just go for the option which I could easily use to purchase whatever I would want aka Fiat currency. Unfortunately, bitcoin is not accepted or used worldwide and as much as I would have loved bitcoin as a mode of payment, I would go for something I could use anywhere anytime.
Besides today, there are only a handful of vendors that would accept bitcoin as payment for services rendered as majority would accept fiat and so one would eventually have to exchange your bitcoin to fiat in order to make purchases.
While bitcoin is attractive enough to acquire and hold cause of its many advantages and potentials, I think it’s safer to go with what is globally accepted and used. Thankfully, there is no gun to my head and I don’t have to choose between the both of them.
I hold the two for different reasons and purposes. I use bitcoin for investment purposes not for making any daily transaction related. But for fiat, I hold that for my daily transaction which is for my basic need. I will love to hold the two even if bitcoin is accepted as a legal tender in my country.
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