Is Bitcoin better than Fiat? - page 11.

elisabetheva

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Quote from: Abiky on May 14, 2021, 09:09:41 PM

That's certainly true, mate. The limited adoption of Bitcoin is what makes Fiat a better option for buying goods and services. Most merchants and businesses still trust Fiat because it's stable and backed by reputable entities (in this case, the government and the central bank). Bitcoin, on the other hand, is the contrary of Fiat as its unstable and backed by nothing other than mathematics and cryptography.

In some sense, Bitcoin is better than Fiat because you're free to do whatever you want with your money without fear of censorship from a third party. No one can freeze your Bitcoin or deny you access to it, thanks to the decentralization of the core Blockchain protocol. I'd bet if Bitcoin would've been a stable cryptocurrency, it would've been widely accepted by mainstream merchants, businesses, and companies alike. At least, the number of people adopting Bitcoin is growing. Whichever form of money is best for daily payments, that's up to you to decide. It seems to me that both Bitcoin and Fiat will co-exist alongside each other for years to come. Just my thoughts Grin

what you are saying is the fact that it is true, especially in many countries, especially developing countries, that fiat is still the main transaction tool and not all of them understand the digital transactions that may have to be done. Moreover, local markets (non-modern) still use fiat and cannot accept anything other than fiat itself.
even if it is forced, it still needs to be improved, which may not be as fast as predicted.

actually bitcoin and fiat let only stick to their respective uses because they are still needed by different people. let bitcoin run and support every where fiat can't do or vice versa where bitcoin can't work there fiat. complement each other for more advanced improvements.

Abiky

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Quote from: TimeTeller on May 09, 2021, 06:52:28 PM

With bitcoin, you still need to convert it to your fiat before you can really use it.
Why? Because only few merchants or shops are accepting bitcoin as payment.
So same with the dollar, you still need to convert your dollar to the local fiat before you can use it.
As not all merchants are accepting dollar directly, same with bitcoin.
They have their own pros and cons. But right now, most of our transactions are in fiat.

That's certainly true, mate. The limited adoption of Bitcoin is what makes Fiat a better option for buying goods and services. Most merchants and businesses still trust Fiat because it's stable and backed by reputable entities (in this case, the government and the central bank). Bitcoin, on the other hand, is the contrary of Fiat as its unstable and backed by nothing other than mathematics and cryptography.

In some sense, Bitcoin is better than Fiat because you're free to do whatever you want with your money without fear of censorship from a third party. No one can freeze your Bitcoin or deny you access to it, thanks to the decentralization of the core Blockchain protocol. I'd bet if Bitcoin would've been a stable cryptocurrency, it would've been widely accepted by mainstream merchants, businesses, and companies alike. At least, the number of people adopting Bitcoin is growing. Whichever form of money is best for daily payments, that's up to you to decide. It seems to me that both Bitcoin and Fiat will co-exist alongside each other for years to come. Just my thoughts Grin

anti-dot

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Quote from: ?? on ??

fiat currency and bitcoin are just as good in my opinion, and it also depends on the place,
if used for investment, of course bitcoin is superior to other investments such as gold or buying currency
If bitcoin is used as a transaction tool in everyday life, I don't think it is suitable because there are still many people who are unfamiliar with technology, but if it is used as an alternative to fiat money I think it is suitable

Fiat currency is no investment at all unless you trade different fiat currencies against each other or sell it short. It is a store of value (or at least supposed to be as there is inflation) while Bitcoin these days is not that close to being a store of value in its narrowest sense. It might become one soon, but it's volatility speaks against it for now.

iTradeChips

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If you are going to ask me, then I might be biased a bit in my answer, but opinions are welcome in this forum and a friendly, open discussion is always a good sign of civility in an otherwise semi-trollish atmosphere of the internet. Investment-wise, Bitcoin is much better than fiat as this is practically a tool and an instrument in making profit and being able to make your money bigger. Fiat, on the other hand, is the handyman tool in purchasing in the real world, as for me fiat is much better tool for payment than bitcoins. I would rather pay fiat for the meantime for good and services than bitcoin. You paid 10,000 bitcoins before for a pizza which became millions then I think that is too much, but alas we don't know what the future will bring.

elisabetheva

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Quote from: uneng on May 09, 2021, 07:49:00 PM

Quote from: dunfida on May 09, 2021, 06:58:56 PM

Quote from: TimeTeller on May 09, 2021, 06:52:28 PM

Quote from: Luqman on May 09, 2021, 06:17:58 PM

Quote from: ampu on May 09, 2021, 04:31:33 AM

I think Bitcoin is better than FIAT because of its decentralization and deflation over time.
Bitcoin is applicable worldwide and its valuation looks more objective. FIAT cannot be applied worldwide ---.

Personally, I am not sure if decentralization is better than centralization. Each has the advantage and weakness. So, it is difficult to determine which one is better. Who said Fiat cannot be applicable worldwide? If it is the dollar, it can be applied worldwide as it is a global currency. But if you want to pay for something in a country, you probably need to convert it to another currency. I think this situation isn't very different than Bitcoin.

With bitcoin, you still need to convert it to your fiat before you can really use it.
Why? Because only few merchants or shops are accepting bitcoin as payment.
So same with the dollar, you still need to convert your dollar to the local fiat before you can use it.
As not all merchants are accepting dollar directly, same with bitcoin.
They have their own pros and cons. But right now, most of our transactions are in fiat.

They should really think off these factors before making out some comparison or making some similarities where both things does have its pro's and con's.

Its true that we arent still on that global adoption where bitcoin can be used on day to day basis just like on what we are doing with fiat.

Even though there are instances where USD should still need to be converted when you do jump into other particular countries.

For now we can't live without fiat for the reasons presented above, but someday, once bitcoin becomes widely accepted as currency I think fiat's advantages will vanish and if not replaced by bitcoin, fiat will most probably be replaced by stable coins in terms of popularity and usage. Fiat is only better than bitcoin nowadays in some aspects because of its unanimous acceptance, what means bitcoin and fiat aren't fighting equally.
Once it happens, bitcoin will win for sure.

With the ever-growing progress, it must be admitted that the use of fiat money will decrease, because digital money will be the most appropriate means of making transactions faster and more measurable. especially with the covid-19 pandemic where it is alleged that paper money is one of the transmitters of transmission, so digital money is highly recommended.

but in many countries they still cannot accept bitcoin due to several constraints and rules that cannot be made. because indeed the regulations regarding bitcoin must be clear so that there is no overlap. so that fiat is still used as a legal means of exchange.

still need more time to be accepted by bitcoin worldwide because existing policies are still inadequate. many countries are afraid that bitcoin is used as a means of laundering money from corruption and drug trafficking.

let it be time that will tell but it's actually good for bitcoin and fiat to stand alone and provide support to each other where places that cannot play an active role are where they come in and become replacements.

uneng

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Quote from: dunfida on May 09, 2021, 06:58:56 PM

Quote from: TimeTeller on May 09, 2021, 06:52:28 PM

Quote from: Luqman on May 09, 2021, 06:17:58 PM

Quote from: ampu on May 09, 2021, 04:31:33 AM

I think Bitcoin is better than FIAT because of its decentralization and deflation over time.
Bitcoin is applicable worldwide and its valuation looks more objective. FIAT cannot be applied worldwide ---.

Personally, I am not sure if decentralization is better than centralization. Each has the advantage and weakness. So, it is difficult to determine which one is better. Who said Fiat cannot be applicable worldwide? If it is the dollar, it can be applied worldwide as it is a global currency. But if you want to pay for something in a country, you probably need to convert it to another currency. I think this situation isn't very different than Bitcoin.

With bitcoin, you still need to convert it to your fiat before you can really use it.
Why? Because only few merchants or shops are accepting bitcoin as payment.
So same with the dollar, you still need to convert your dollar to the local fiat before you can use it.
As not all merchants are accepting dollar directly, same with bitcoin.
They have their own pros and cons. But right now, most of our transactions are in fiat.

They should really think off these factors before making out some comparison or making some similarities where both things does have its pro's and con's.

Its true that we arent still on that global adoption where bitcoin can be used on day to day basis just like on what we are doing with fiat.

Even though there are instances where USD should still need to be converted when you do jump into other particular countries.

For now we can't live without fiat for the reasons presented above, but someday, once bitcoin becomes widely accepted as currency I think fiat's advantages will vanish and if not replaced by bitcoin, fiat will most probably be replaced by stable coins in terms of popularity and usage. Fiat is only better than bitcoin nowadays in some aspects because of its unanimous acceptance, what means bitcoin and fiat aren't fighting equally.
Once it happens, bitcoin will win for sure.

dunfida

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Quote from: TimeTeller on May 09, 2021, 06:52:28 PM

Quote from: Luqman on May 09, 2021, 06:17:58 PM

Quote from: ampu on May 09, 2021, 04:31:33 AM

I think Bitcoin is better than FIAT because of its decentralization and deflation over time.
Bitcoin is applicable worldwide and its valuation looks more objective. FIAT cannot be applied worldwide ---.

Personally, I am not sure if decentralization is better than centralization. Each has the advantage and weakness. So, it is difficult to determine which one is better. Who said Fiat cannot be applicable worldwide? If it is the dollar, it can be applied worldwide as it is a global currency. But if you want to pay for something in a country, you probably need to convert it to another currency. I think this situation isn't very different than Bitcoin.

With bitcoin, you still need to convert it to your fiat before you can really use it.
Why? Because only few merchants or shops are accepting bitcoin as payment.
So same with the dollar, you still need to convert your dollar to the local fiat before you can use it.
As not all merchants are accepting dollar directly, same with bitcoin.
They have their own pros and cons. But right now, most of our transactions are in fiat.

They should really think off these factors before making out some comparison or making some similarities where both things does have its pro's and con's.

Its true that we arent still on that global adoption where bitcoin can be used on day to day basis just like on what we are doing with fiat.

Even though there are instances where USD should still need to be converted when you do jump into other particular countries.

TimeTeller

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Quote from: Luqman on May 09, 2021, 06:17:58 PM

Quote from: ampu on May 09, 2021, 04:31:33 AM

I think Bitcoin is better than FIAT because of its decentralization and deflation over time.
Bitcoin is applicable worldwide and its valuation looks more objective. FIAT cannot be applied worldwide ---.

Personally, I am not sure if decentralization is better than centralization. Each has the advantage and weakness. So, it is difficult to determine which one is better. Who said Fiat cannot be applicable worldwide? If it is the dollar, it can be applied worldwide as it is a global currency. But if you want to pay for something in a country, you probably need to convert it to another currency. I think this situation isn't very different than Bitcoin.

With bitcoin, you still need to convert it to your fiat before you can really use it.
Why? Because only few merchants or shops are accepting bitcoin as payment.
So same with the dollar, you still need to convert your dollar to the local fiat before you can use it.
As not all merchants are accepting dollar directly, same with bitcoin.
They have their own pros and cons. But right now, most of our transactions are in fiat.

Luqman

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Quote from: ampu on May 09, 2021, 04:31:33 AM

I think Bitcoin is better than FIAT because of its decentralization and deflation over time.
Bitcoin is applicable worldwide and its valuation looks more objective. FIAT cannot be applied worldwide ---.

Personally, I am not sure if decentralization is better than centralization. Each has the advantage and weakness. So, it is difficult to determine which one is better. Who said Fiat cannot be applicable worldwide? If it is the dollar, it can be applied worldwide as it is a global currency. But if you want to pay for something in a country, you probably need to convert it to another currency. I think this situation isn't very different than Bitcoin.

scarface97

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I think bitcoin is better than all of them. but we should evaluate it from the following point of view, what is the most used thing in the world? what people care and what they use. Currently, bitcoin is not a payment and currency that is actively used by people. Therefore, as bitcoin increases its dominance in the world, fiat will lose its importance anyway.

Norkys.2020

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I do not understand the comparison very well, if FIAT falls worldwide, if there is a strong fall that the dollar and the euro go to the ground, with what currency will the bitcoin be equated? I think that fiat money must exist to give value to BTC, since many do not handle crypto or know how to obtain it.

GideonGono

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There are instance that Bitcoin is better than Fiat or vice versa.
Crypto or online payment is better now compared to Fiat to stay safe from transmitting corona virus.
Fiat is better when the transaction would cost too much on online payment.
They both have their pros and cons so we should stop on comparing them to each other.

Iceblast

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Quote from: Kayum10029 on May 05, 2021, 10:29:09 AM

I think in coronavirus pandemic situations, bitcoin and others virtual cryptocurrency better than Fiat because hard paper money a source of coronavirus. So Many countries people already avaid in market by paper money.

besides the source of the virus during the corona pandemic, fiat money also cannot make assets increase. different from bitcoin we can trade and increase profit without us having to hold directly. So this is one of the advantages of bitcoin over fiat during the Covid 19 pandemic

capcaypro

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Quote from: Imran232 on March 19, 2021, 01:51:48 PM

Bitcoin already proved that it is better than fiat. Though i also think it is too early to say anything about it. But i think we can say it because we already see the power of bitcoin. It is better than fial, savings, stock market, gold or real state too. A place which is a combined of everything then why it can't be better than fiat. I also agreed with your point too. But why government can't agreed? Its answer is also same because it is a thought which is a out of everyones thought. Then what we Should do? Nothing just party with our profit from bitcoin.

depending on how we use it, because all have their functions and between both of them (bitcoin and fiat) all have functions and tasks that are actually the same but different.
we cannot use bitcoin in transactions of buying and selling goods for example. because as far as I know so far only a few goods and products can be bought by bitcoin and of course fiat is more useful in this regard.
but when things that can not be done by fiat such as in trading of course we want to be free to do whatever we want without any rules or intervention from third parties of course fiat here has problems there because fiat is still regulated and whatever users do this third party will know, unlike bitcoin which has no restrictions and rules from others. we are free to determine the target we want as we wish and others cannot participate in it.
depending on how we function and mengguanakan his own there are some advantages and disadvantages of each

skpanchal

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When it comes to transferring money, you may notice that Bitcoin works way better than fiat currencies. When there is an increase in bitcoin's exchange value, you can expect an increase in its transfer amount. But one thing is for sure; it will remain less expensive than fiat currencies.

gesdan

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bitcoin are great, but we know in the real world, we need fiat in the real world, and i think fiat in the real world cant replaced by bitcoin and other cryptocurrencies, so Is Bitcoin better than Fiat? i think yes in some aspect, but fiat better than bitcoin, in some aspect too.

Alucard1

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Quote from: DatKing on March 20, 2021, 05:28:34 AM

There is really much divergency about this question. I'm one of the Bitcoin supporters in this. Because it is the money of the future. But I also think that it won't be used as a main currency by governments because of its volatility. But Bitcoin is really helping for digital currencies to be developed by goverments to be prepared for the future.

Yeah, that's true, I don't think that cryptocurrency can be used as the standard currency in the future because the government won't never accepts it in different countries as they cant control it. I am really a fan of bitcoin because it already proves a lot of thing to many people, it really gives me as well a good income, even in my young age, I am already helping my family in terms of financial but fiat currency is still the one and fiat currency is what most of the people are looking for, but maybe it will change in the future as the technology keeps being advanced.

ampu

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I think Bitcoin is better than FIAT because of its decentralization and deflation over time.
Bitcoin is applicable worldwide and its valuation looks more objective. FIAT cannot be applied worldwide and its value is manipulated by governments.

akm3535

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It is definitely better than fiat if we understand bitcoin correctly. The important thing here is to use bitcoin and cryptocurrencies correctly, to understand them correctly, not to try to control them with ridiculous prohibitions. He will definitely kneel in the future against fiat bitcoin. With its technology, bitcoin cannot even be compared to fiat. I think it will affect the whole world in the future.

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If we are talking about cryptocurrency and fiat currency they always compare but they are the same as digital currency but the difference is the cryptocurrency which is the bitcoin is more volatile than the fiat currency it's more active than the market it as you can see it took a long run for the fiat currency to move for just one cent but if there's an economic crisis this is the time only when the fiat currency will fall down on the cryptocurrency i think most of us tells that we experience everyday ups and downs and lose some of our position and becomes liquidated if you want to along-term investment they prefer both but I think its more active if we ride on the cryptocurrency.

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