Topic: Is Bitcoin better than Fiat? - page 12. (Read 4279 times)

As an Investment op, yes better than fiat but as a means of payment, not at the moment which for me is the only down side to it. I would love to be able to spend it everywhere and anywhere but for now, most of my regular stores are not there yet so I still spend my fiat. It will be definitely the easiest form of payment when we have a global adoption. 

Bitcoin and fiat are both important we can use it anywhere as payment online or personally, so i think we dont need to compare what is better because we know how important fiat and bitcoin is. Although that there's a advantage to bitcoin as we use it as payment peer to peer still that two is important. And it will be more develop in the future.

it is true that fiat is used for day-to-day shopping while bitcoin is more appropriate to be used as an asset in the future so that it generates a lot of fiat so both are equally important.

I think they're equal at the moment. Both are equally needed. Fiat is needed in a day for shopping, while bitcoin is used to produce fiat. But there is a plus today from bitcoin, which is a fully decentralized transaction. If now the pandemic condition covid19 bitcoin is better than fiat.

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That's right. It's just that some governments haven't dug deeper into bitcoin in terms of benefits and profits. I think most people still think badly about bitcoin. at this time bitcoin is the best solution to fight the corona virus.

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Advantage of bitcoin

1. Compared of traditional banking system,  Bitcoin has no storage cost.
2.The cross border transaction with uniform value is not possible in the case of fiat currency.
3. While fiat is controlled by a Government, Bitcoin has no central authority.
4.Fraudsters can not make fake bitcoin as like as fiat currency.

Advantage of fiat
1.Easy to store and manage rather than crypto
2.Although fiat money is viewed as a more stable currency that can cushion against recessions.

For those people who know bitcoin or those who already exploring bitcoin or cryptocurrency then for sure, they will choose bitcoin over fiat currency, it is because we already know how bitcoin can benefit us, it is because they know how bitcoin build so many trusts of many people including big companies, but for those persons who don't have the knowledge yet inc cryptocurrency then they would probably choose fiat over bitcoin because of thinking that bitcoin is scam without knowing about it.

For investment purposes, Bitcoin is better. But for the payment tool, it is too early to say BTC is better. I think there are many weaknesses of Bitcoin that need to improve if it wants to be a global currency. The volatility in its value must be decreased and it should be accepted by most countries in the world. Since Bitcoin still cannot fulfill it, I think we cannot say Bitcoin is better than Fiat for payment tool purposes.

For me yes but I don't like the transaction fee to be honest because it is too high. Can't afford to send and receive with current fees. Though Bitcoin for me is very secure and future proof but still fiat would win in a daily basis use cases. I think Bitcoin will be greater and more convenient to use in the future.

Well, the risk of contamination through paper and coins can be avoided by simply using card transfers, PayPass payments, etc., so cryptocurrency doesn't stand as the only possible solution here.

Is it possible? Most of the countries in the world taking action against cryptocurrencies . China , ,india and russia already take action against who perform money laundering. I think bitcoin wouldn't be Global currency any more.

Over the last few months i have regularly bought Bitcoin with fiat that i have because i prefer Bitcoin to fiat.  i think Bitcoin in the future will be very expensive to buy, so my current opportunity will not be wasted.  but at this time i'm also still dependent on fiat because in my city, the majority still do not understand Bitcoin and how to transact with Bitcoin.

It is easy to answer this question. I think that there is no better, since it is convenient to use bitcoin in everyday life until it works, unless of course you live somewhere in Japan in a large city or in California, in Silicon Valley. I think for quite a long time we will have these two methods of paying and saving, which will be in demand in different planes of our life. But it is also clear that the financial and investment revolution (or evolution) has already begun.

I think that Bitcoin is better than fiat currencies especially when it comes to security. Because Blockchain technology is much more secure than banking systems. And decentralized systems will always be better than the centralized ones.

I agree with you. Besides, we use online payments in order to pay our bills and here in our country we can convert bitcoin and other digital currency into a fiat money that is also stored  in various electronic wallet like gcash and paymaya so we can use it to pay bills and buy our necessities online. There is no need to go out and carry a paper Fiat money, and we can prevent the virus from spreading, hassle free. You just sit in front of your computer or cellphone and make a transaction. Simple and easy.

Precisely. Bitcoin is still not accepted as legal tender in some countries worldwide. Even in countries with a friendly stance towards crypto/Blockchain tech, the number of businesses and merchants accepting Fiat is greater than those who accept crypto as payment method. As far as technicalities are concerned, I'd say that Bitcoin is far superior than Fiat itself. It's entirely secured by cryptography and mathematics, making it the first of its kind in the modern world. Not only that but Bitcoin empowers everybody to become their own bank. The middleman is removed from the system, making Bitcoin a much better alternative than Fiat. It's a multi-purpose cryptocurrency as it can be used both as a store of value (like Gold) and digital cash. Fiat is inflationary and its meant to decline in value over time. With so many benefits Bitcoin provides, I'm surprised why up to this point adoption is still limited compared to Fiat. I guess that people still trust Fiat more than anything else because it's backed by a reputable entity (in this case, the government). As long as this is the case, Bitcoin will only remain as an alternative than a replacement towards the current monetary system.

Nonetheless, it's up to the person to decide which form of money is better than the other. For different needs/purposes in life, will be the type of currency to use for day-to-day payments. I'd suggest anyone to use both for true piece of mind. Fiat will work well for buying good and services in the mainstream world, while Bitcoin will do wonders for those considering a reliable store of value. With how far Bitcoin went since its inception, we could say that it'll live alongside Fiat for many generations. Just my opinion

Definitely yes. But it is too early to make bitcoin the main currency.

If you know bitcoin, it is definitely better than Fiat. Bitcoin gives you quick profits. You invest little but get high results. Bitcoin's boom in 2021 has shown that. So Bitcoin is better than Fiat. You should invest in Bitcoin.

Of course, bitcoin is better than fiat, bitcoin can produce fiat and for those who hold fiat, they don't necessarily have bitcoin. People prefer bitcoin because there is no gap the virus can be transmitted if fiat is better there is a possibility that it can transmit corona because it touches hand to hand .

That's true, corruption will only end if the government will change, the corruption nowadays is really common in every government for different countries, I don't know if corruption will end because selfishness or corruption is the nature of the people, even though they already rich if they have seen something that can be corrupted then they will do something to benefits from it.

Bitcoin and fiat currency are both good and very important for every person.

They are both needed for transaction purpose, we can't relief fully on fiat also we can't also depend on bitcoin for all transactions because most people don't really know about bitcoin up till this time and age, so when we meet those that are aware and willing to trade with bitcoin we deal