Is Bitcoin better than Fiat? - page 17.

Quidat

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Quote from: Zemomtum on March 25, 2021, 06:57:33 PM

The purpose and the future seeable is to replace the FIAT method of payment after global adoption

Even global adoption i cant see for fiat to be replaced no matter what.Government wouldnt let those things to happen but if we do talk about characteristics and features
then we can say that Bitcoin does really have advantage over Fiat but we cant deny that Fiat does have advantage compared to Bitcoin in some aspects.
They are different and they do have different usage for some part but overall, why would need to replace if we can deal or make use of both?
It does only differ when it comes to regulation and anonymity issues.

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For this year alone not looking at what has been happening since 2009, there is no gainsaying that BTC is far better than the FIAT based on the value of return in investment and freedom of spending without any third party involvement.

verita1

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Obviously bitcoin is better than fiat. My bank account is empty many times it was empty before I started bitcoin. Because my salary was low, I was barely enough to cover my basic needs. I was never able to save money even for an emergency.

Fortunately, while I was unemployed, I got to know bitcoin and the world of cryptocurrencies and since then I have been living on crypto. In my bank account I only manage money to pay my bills, my savings are in bitcoin and some altcoins.

Shasha80

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I need both right now, I use Bitcoin as a source of income and while I use fiat for daily financial transactions. Both have advantages and disadvantages,
it is very difficult to determine which one is better. But if I had to choose I would choose Bitcoin over fiat, I think Bitcoin is slightly better than fiat.
I can make Bitcoin a source of income and also payment. Especially with the current performance of Bitcoin, it can provide quite a large profit,
and also more and more merchants are accepting Bitcoin payments, makes it easier for me to spend the Bitcoin that I have.

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Quote from: Abiky on March 19, 2021, 01:22:22 PM

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

Bitcoin has proven to be way better than fiat, cause holding bitcoin is way better than holding onto fiat , they are alot of reasons why bitcoin is better than fiat, like the fixed supply amount of bitcoin which cannot be manipulated, while fiat on the other hand are been printed by the Feds on a daily basis, and since it's everywhere the value of fiat had depreciated over the years, if you check well things you could buy last 10years ago with one paper in hand now you would need two, I rather hold bitcoin than to save fiat in the bank.

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I think the both are very essential and have an edge above one another in there own way. Bitcoin is limited to online or should I say a virtual usage where as, fiat currency isn't, its more of a physical thing. They both function in the same way but experience different set backs and risks. I can't even imagine a world without fiat, no, not at all. Its going to have a negative impact on bitcoin and I doubt it would be so cherished as we do it this day. So, I won't compare them both and I don't subscribe to the idea that one is better than the other. We need them both in our world very much than we know.

why

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Bitcoin is 100% better than fiat money, if you hold fiat it will never give you profit, there is a chance that your govt regulate your funds fully. But if you hold Bitcoin it will give you profit and as it is decentralized no one able to regulate it. on the other hand you can easily transact your funds in bitcoin without any 3rd party, transaction fees is reasonable and it will take less time than fiat transaction. So, you can say, Bitcoin is better than fiat money.

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Quote from: Abiky on March 19, 2021, 01:22:22 PM

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

I don’t really compare the both of them, I just use whatever I want to use anytime I want to, I make use of Bitcoin and I make use of fiat as well which is where I keep my everything . For me these two currencies are good in some ways and also bad in other ways, it all depends on the situation, there are kind of situation you will be in and fiat will be a better option to go with , and at times you will discover that Bitcoin is a better option to choose.

So it all depends, though Bitcoin might seem better because of the kind of freedom it gives to the users, you don’t have any bank placing rules on what you should and shouldn’t do with your money, and how much you can receive and what not, in Bitcoin you’re completely free from all that.

Mr.sprin

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The price of bitcoin proves bitcoin is better than fiat. Everyone knows that in the future bitcoin will be number 1 in trading.

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Quote from: Leviathan.007 on March 25, 2021, 05:54:17 AM

Bitcoin and fiat both and useful in their own place and depending on situation. Bitcoin is definitely protecting people privacy and won't let any government or organization to do any manipulation like they do in fiat by printing worthless money but in the other hand, fiat can be useful if you can't using any internet connection or you want to transfer just a few bucks/cent quickly. Generally, both of them can be useful depending on situation and in the right place to use.

I agree with your opinion. And with Bitcoin, I don't think the aim is to replace fiat. Because governments wouldn't like to use a volatile currency. They will make their own digital currencies in time for sure but the current type of cryptocurrencies will most probably continue to be used as an alternative. And another reason for governments not to prefer them is their being decentralized of course. You can't find many countries who would like to use a currency that is not under their control.

galestorm

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Still too early to tell, the only issue with bitcoin is it's flactuating price, unlike fiat money which has a much more stable value. Though dont get me wrong, Bitcoin has a lot of benefits that it's holders know of. I'll give a few reasons why bitcoin is better than fiat. First is it's low storage cost. Just dump a bunch of bitcoins in a wallet and watch your investments grow through the years. Second is zero interferance from the government. Lastly Bitcoin cannot be falsified. Bitcoin is powered by blockchain technology, and the details of each and every transaction are recorded in it. You cannot bypass nor make your way through by creating fake bitcoin.

Leviathan.007

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Bitcoin and fiat both and useful in their own place and depending on situation. Bitcoin is definitely protecting people privacy and won't let any government or organization to do any manipulation like they do in fiat by printing worthless money but in the other hand, fiat can be useful if you can't using any internet connection or you want to transfer just a few bucks/cent quickly. Generally, both of them can be useful depending on situation and in the right place to use.

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Quote from: Dutchyyy on March 19, 2021, 02:34:06 PM

If monetary policy concerns, untested money printing and ever-increasing inflation continue to worry both retail and institutional investors, they will look for alternatives that provide the security that Bitcoin provides in a unique digital format.

Definitely Bitcoin and cryptocurrencies have much more advantages over fiat money and it would be much better to use them. From the point of view of governments and the people who control us, through cryptocurrencies they will lose this opportunity and there is no way to manipulate people with their finances.

there are still loopholes for anyone to manipulate even using bitcoin. like the experience of many criminals who use bitcoin for hiding their assets. this is possible if bitcoin could support something policy. so even though bitcoin is better than fiat money, bitcoin has not been able to maintain better security stability, because there is no legal entity that regulates it.

angrynerd88

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I think huge contrast when talking around bitcoin and fiat well at to begin with individuals might think simply can't withdraw bitcoin into fluid resource unless it'll turn into fiat at that point utilize it into a few great purposes furthermore most of individuals are considering that bitcoin will ended up degenerate like fiat that they utilized it to control everything with the utilize of government control well this is often great for bitcoin that it was decentralize that records all the exchanges and no one can control it's cost and generally you'll be able effortlessly send cash overseas utilizing bitcoin.

nightxglow

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Well bitcoin is surely better than fiat for some things, but there are some disadvantages as well. Like for example, bitcoin is not commonly used and accepted yet, it's still inconvenient to use for daily, so of course in this case fiat is better. However bitcoin is more advanced technologically, and also bitcoin is more valuable than fiat. If we store bitcoin for long time, there's a big chance that it will worth more. However if we store fiat for long time, it will just decrease in the value, not good at all.
So, it really depends. Both have their pros and cons, and still no one can beat each other yet.

conected

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Quote from: Kasabus on March 22, 2021, 11:53:32 AM

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it will be better if a common man can use it to easily acquire daily needs such as foods and shelter. Unfortunately many of us still end up converting the bitcoin to fiat to be able to use it access what we desire. Therefore, bitcoin is still far from being better than fiat

Bitcoin will always be a good store of value and a good investment for retirement. Although it's considered a currency, but for me fiat is far better than bitcoin when it comes to people's convenience in using it to pay for goods or services everyday. Although bitcoin has its advantage from not being corrupted, but people still prefer to use fiat because they are already used to it.

- In my opinion, the most prominent feature of bitcoin is an investable asset, more or less, with annual figures, we can see that the number of people who can succeed with bitcoin is quite high, we can always start with a low number, fiat is really not so prominent in this respect but except in this respect, I agree with the rest that you said, daily service or store of value, fiat still has more priority as users can gain mutual trust and convenience while bitcoin is still very susceptible to scams and hard to repay losses

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Quote from: Abiky on March 19, 2021, 01:22:22 PM

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 do think that Bitcoin might actually be better than Fiat in our country. My opinion depends on our country since I am living on a third-world country and owning Cryptocurrencies is a great idea because it gives me freedom to do things. Its also necessary to learn Bitcoin or just learn about Cryptocurrencies as a whole because it can give someone a career that is unexpectedly good. I just want to earn within the Cryptocurrency Industry and convert it into our Fiat to use it in establishments that does not allow digital money and its a much better idea to do cash less payments.

Its also something that could push a country towards a more advance type of country and not stuck on a traditional way of living.

Ucy

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Bitcoin system (which is more important to me) is way better than fiat financial system. It's actually a very transparent system unlike fiat systems which are hidden to the public.
Some of my favorites features of Bitcoin that's is worth copying by national governments are the Decentralizion, Immutablity, Transparency, Public consensus, Censorship resistant, Privacy/Anonymity, Permissionless/Trustless, Deflation, etc. They are what I care more about.
It should continue to be improved along this good ideals

isaac_clarke22

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Quote from: Abiky on March 22, 2021, 12:29:55 PM

Quote from: masterzino on March 19, 2021, 02:03:12 PM

~

Bitcoin has certain limitations which makes it unsuitable as digital cash for daily payments. As long as the network remains congested, I don't see it challenging Fiat anytime soon. High fees and slow transaction confirmation times only makes Bitcoin good as a store of value. It's better than Fiat in the sense that it's decentralized. Other than that, Fiat is a better choice for stable payments worldwide. There's still hope that someday Bitcoin will become better than Fiat as the project develops over time. The Lightning Network, Taproot + Schnorr Signatures, and many other features will make this happen faster than you could've ever imagined. Who knows what the future of Bitcoin will be?

Nonetheless, we could say that other cryptocurrencies are better than Fiat because of their highly-scalable blockchain networks. Yet, they lack the level of mainstream adoption Fiat currencies have. Without merchant adoption, what use can crypto have in the real world? Time will tell us whenever Bitcoin will be able to outperform Fiat or simply remain behind it every step of the way. Just my thoughts Grin

This.
The speed of the transaction and the cost of fees sometimes. If one would transact in a certain merchant, it isn't the usual 1:1 purchase as fees are coming along with it plus the unstable price which could turn the tides of the transaction.
Imagine taking down notes of each transaction every day to see if they were confirmed or not just yet.
But still I am happy that some merchants are still considering in adopting it for their business.

Mr.sprin

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bitcoin and fiat are both good now bitcoin many are familiar with maybe one day bitcoin will become mainstream rather than fiat but it will.

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