Topic: Is Bitcoin better than Fiat? - page 15. (Read 4279 times)
It has more function, so yes.
Some readings of articles always take into account that the FIAT money is backed in Gold, but I think that it is not like that, in case it is totally valid, there would be no inflation rates at least in the dollar, because all over the world there is talk about inflation even in the US, knowing that there is a total hegemony of the dollar after the Second World War, the dominance has been clear from that moment until now.
When talking about bitcoin, many governments and banks have their stance on the crypto asset, in fact some are more Pro-Bitcoin than others.
According Deutsche Bank:
...
Everything I think has a conclusion where Bitcoin has a limited supply, FIAT money does not, the fact of having a limited supply creates a totally deflationary economy, even though it does not have any support based on gold, or any other similar.
When talking about bitcoin, many governments and banks have their stance on the crypto asset, in fact some are more Pro-Bitcoin than others.
According Deutsche Bank:
Quote
“Bitcoin is too important to ignore, noting that it is now the third-largest currency in terms of the total value in circulation.”
...
Everything I think has a conclusion where Bitcoin has a limited supply, FIAT money does not, the fact of having a limited supply creates a totally deflationary economy, even though it does not have any support based on gold, or any other similar.
Fiat is backed by debt nowadays, subject to the negative effects of inflation over the long term. When Fiat was backed by Gold, people used to have greater spending power. Now, it's all the contrary since your money becomes worthless as time goes by. That's not the case with Bitcoin. We could say that the pioneer cryptocurrency resembles Gold since its supply is extremely limited. A deflationary model should make Bitcoin much more valuable in the long run. This gives people greater spending power in terms of Fiat. The only issue would be having to deal with Bitcoin's price volatility in the short term.
Nonetheless, I believe that Bitcoin has more benefits than Fiat itself. Yet, most people use Fiat because it's the standard type of currency for debts public and private. It's backed by the government, so this gives Fiat a greater degree of credibility/trust than Bitcoin itself. A person can decide to use Fiat on top of Bitcoin or both for his/her own benefit. As long as the cryptocurrency remains decentralized, nothing else matters. Just my thoughts
I find the Deutsche Bank graph strange. It talks about fiat "in circulation" and BTC "in circulation". But all Bitcoins aren't "in circulation", just like other fiat currencies, a lot of which is stored on bank accounts, central banks, etc.
as you said, bitcoin is more flexible and easy to use anywhere, that means bitcoin has higher interoperability than fiat. But, it needs to be underlined, bitcoin is not yet accepted globally, that's the drawback.
Fiat and bitcoin have their advantages and disadvantages, no need to worry about which one is better, if we can use both for an easier life, why not?
Well for me both currency are useful, valuable and worth it which both can be used to purchase goods and services. However, the usefulness of fiat are still widely used because this is what the whole country used currency circulated in the economy but considering the existence of bitcoin today was exceptional, it is more functional because it is more high value than the fiat currency here in our country, but so far we are struggling to used it in our daily transactions because the adoption of the world to bitcoin wasn't yet happening but there are few countries that adopted bitcoin already. Fiat and bitcoin have their advantages and disadvantages, no need to worry about which one is better, if we can use both for an easier life, why not?
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What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
as you said, bitcoin is more flexible and easy to use anywhere, that means bitcoin has higher interoperability than fiat. But, it needs to be underlined, bitcoin is not yet accepted globally, that's the drawback.What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
Fiat and bitcoin have their advantages and disadvantages, no need to worry about which one is better, if we can use both for an easier life, why not?
For me i think bitcoin is not better than fiat.Because on bitcoin there have chance to decrease money and i think it's really big problem for everyone, if bitcoin stable at good price long day then i think bitcoin is better choice than fiat.
Bitcoin and Fiat, each currency has its own advantages and disadvantages. Considering the aspect of using Fiat to exchange goods, spending on everyday life I think Fiat is better than Bitcoin. Bitcoin only is suitable as a property to buy and sell, storing people's properties will be more reasonable.
Some readings of articles always take into account that the FIAT money is backed in Gold, but I think that it is not like that, in case it is totally valid, there would be no inflation rates at least in the dollar, because all over the world there is talk about inflation even in the US, knowing that there is a total hegemony of the dollar after the Second World War, the dominance has been clear from that moment until now.
When talking about bitcoin, many governments and banks have their stance on the crypto asset, in fact some are more Pro-Bitcoin than others.
According Deutsche Bank:
Source: https://ambcrypto.com/why-bitcoin-may-be-the-base-money-of-the-future/
Everything I think has a conclusion where Bitcoin has a limited supply, FIAT money does not, the fact of having a limited supply creates a totally deflationary economy, even though it does not have any support based on gold, or any other similar.
When talking about bitcoin, many governments and banks have their stance on the crypto asset, in fact some are more Pro-Bitcoin than others.
According Deutsche Bank:
Quote
“Bitcoin is too important to ignore, noting that it is now the third-largest currency in terms of the total value in circulation.”
Source: https://ambcrypto.com/why-bitcoin-may-be-the-base-money-of-the-future/
Everything I think has a conclusion where Bitcoin has a limited supply, FIAT money does not, the fact of having a limited supply creates a totally deflationary economy, even though it does not have any support based on gold, or any other similar.
What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
both have their own roles. Bitcoin can be used as your old investment. Meanwhile, Fiat makes it easy to shop all day long. bit coin remains in the heart ..
For the first time in history, money is separated from the state. Bitcoin aims to be an alternative to Fiat currencies by providing financial inclusion to anyone, anywhere in the world. A system governed by mathematics and cryptography will put an end to corruption once and for all. The pioneer cryptocurrency can be used globally without limitations thanks to its decentralized model. People can send cross-border payments in minutes without the need for ID verification, background checks, or credit checks of any kind. This brings a whole new era of financial sovereignty as we know it.
What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance
I think " What most people prefer to use?" is the right question for this topic. BTC and Fiat are the currency used as a medium of exchange for purchases and trade of goods/services in a certain place. Systematically, BTC is way better than fiat in many ways such as transferring/storing money and no government interference. However, it's not yet widely accepted, adopted, and supported by different countries. Here in our country, BTC is not yet accepted as a form of payment so converting your BTC to Peso is needed. So finding out who's better is not necessarily needed.
For one, it has proven itself to be better than the fiat currency that we all use right now. Bitcoins has become an asset itself, not just a currency. Bitcoin cannot be manipulated nor created again so that there would be more and more bitcoins. Fiat can be printed out like pancakes by the central banks and it will cause inflation and devaluation which lead to higher prices. We should not be comparing fiat anymore. We already know who is the winner.
Bitcoin isn't as widely used as fiat is so in terms of usage, fiat is more accessible to more people. If on whale has enough bitcoin, I think that thet can manipulate the market, I mean all markets can be manipulated, the laws are just preventing it from happening openly. 
For one, it has proven itself to be better than the fiat currency that we all use right now. Bitcoins has become an asset itself, not just a currency. Bitcoin cannot be manipulated nor created again so that there would be more and more bitcoins. Fiat can be printed out like pancakes by the central banks and it will cause inflation and devaluation which lead to higher prices. We should not be comparing fiat anymore. We already know who is the winner.
Cryptocurrency or bitcoin has always been compared to fiat or can replace the fiat currency or currency we use today, it is too early to achieve this goal due to the fundamental difference between bitcoin and fiat.
Although bitcoin is better than fiat and there are many other advantages, in fact fiat will become more important for everyday life, bitcoin will be more useful and have many advantages compared to fiat which is only felt by certain people.
we still need both as a medium of exchange depending on the situation, and also bitcoin can be an asset that can outperform fiat currencies.
Although bitcoin is better than fiat and there are many other advantages, in fact fiat will become more important for everyday life, bitcoin will be more useful and have many advantages compared to fiat which is only felt by certain people.
we still need both as a medium of exchange depending on the situation, and also bitcoin can be an asset that can outperform fiat currencies.
For ordinary usage, here is a comparison between Fiat currency and Bitcoin:
Bitcoin preferred over fiat currency:
1. For making online payments involving large amounts, where instant confirmation is not required
2. Cross border payments
3. Remittance payments
4. Foreign currency conversions
5. Gambling payments (in countries where gambling is banned)
Fiat currency preferred over BTC:
1. Anonymous payments using physical cash
2. Instant payments
3. Payments involving smaller amounts
4. Tax payments and other government dues
5. Bank deposits and withdrawals
Bitcoin preferred over fiat currency:
1. For making online payments involving large amounts, where instant confirmation is not required
2. Cross border payments
3. Remittance payments
4. Foreign currency conversions
5. Gambling payments (in countries where gambling is banned)
Fiat currency preferred over BTC:
1. Anonymous payments using physical cash
2. Instant payments
3. Payments involving smaller amounts
4. Tax payments and other government dues
5. Bank deposits and withdrawals
This basically summarizes the pros and cons between both types of currencies. While I admit that no system is perfect, Bitcoin seems to be a better option than Fiat because it has no issuing authority. The decentralized and censorship-resistant model of Bitcoin, brings financial inclusion to anyone worldwide. When disaster strikes, you can count on Bitcoin to save the day. Fiat is only good if you want something that's stable and widely accepted by merchants and businesses alike. But it's terrible as a store of value because of the inflation brought by the central bank. Your money will be worth less with Fiat over time, than it's the case with Bitcoin. In other words, you'll have greater spending power if you save Bitcoin than saving Fiat on a bank account.
Nonetheless, each person has his/her own tastes/preferences in daily life. Not everyone finds Bitcoin attractive as a medium of exchange. The price volatility, pseudonymous nature, and lack of merchant acceptance is one of the many reasons people avoid Bitcoin in the first place. At least, Bitcoin's decentralized nature will keep it going for many generations. Just my opinion
I own a significant amount of both. I keep the fiat to buy a house. I wanted to sell some BTC to buy a better house, but not anymore, I'm keeping it. I'm not worried about the value of BTC, even if I know it can move widely. I'm much more worried about the value of my fiat, I would rather already own the house.
So, BTC is better.
So, BTC is better.
Of course, because no one fiat is worth more than bitcoin.
bitcoin is 10 times better than fiat. It is our escape route from the government who only wants to print money without thinking of the consequences.
I hate to disagree with you on bitcoin being 10 times better than fiat and over. From the way I see it, its not really intact, there should not be a comparison between the two because, despite the fact that they are both currencies, they function in different spheres. While bitcoin is limited to online and software operations, fiat operates its equivalent in the physical sphere. Besides, bitcoin is a highly unstable currency compared to fiat which is farely stable. Due to the instability of bitcoin, it becomes a disadvantage to it, making it a not very suitable spending currency.
For ordinary usage, here is a comparison between Fiat currency and Bitcoin:
Bitcoin preferred over fiat currency:
1. For making online payments involving large amounts, where instant confirmation is not required
2. Cross border payments
3. Remittance payments
4. Foreign currency conversions
5. Gambling payments (in countries where gambling is banned)
Fiat currency preferred over BTC:
1. Anonymous payments using physical cash
2. Instant payments
3. Payments involving smaller amounts
4. Tax payments and other government dues
5. Bank deposits and withdrawals
Bitcoin preferred over fiat currency:
1. For making online payments involving large amounts, where instant confirmation is not required
2. Cross border payments
3. Remittance payments
4. Foreign currency conversions
5. Gambling payments (in countries where gambling is banned)
Fiat currency preferred over BTC:
1. Anonymous payments using physical cash
2. Instant payments
3. Payments involving smaller amounts
4. Tax payments and other government dues
5. Bank deposits and withdrawals
bitcoin is 10 times better than fiat. It is our escape route from the government who only wants to print money without thinking of the consequences.
I hate to disagree with you on bitcoin being 10 times better than fiat and over. From the way I see it, its not really intact, there should not be a comparison between the two because, despite the fact that they are both currencies, they function in different spheres. While bitcoin is limited to online and software operations, fiat operates its equivalent in the physical sphere. Besides, bitcoin is a highly unstable currency compared to fiat which is farely stable. Due to the instability of bitcoin, it becomes a disadvantage to it, making it a not very suitable spending currency. Jump to: