Topic: Is Bitcoin better than Fiat? - page 4. (Read 4279 times)
I think no!. The reason is that every currency has its own importance.The peoples that wants to save their money in a currency that when they see it after some years their value remain same. But bitcoin currency value changes due to its price increases or decreases. So, if a user stores money in bitcoin its dollar value changes due t its price. This is a major difference between both currencies.
it is still fiat for now. Because fiat is still widely used. Bitcoin is not that acceptable and as of now, many are still clueless about bitcoin especially with those who do not have access to internet. Fiat is used in most countries and controlled by the government. but it will still be good and better if we have bitcoin. It is a store of value and good for long term investment.
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
It actually depends on the purpose and goals you have set. Bitcoin is indeed great on so many aspects. It provides additional opportunities to generate income and it is a nice platform for investment. However, it's quite risky so, someone must manage their actions and expectations about it. Bitcoin has already withstood many challenges thrown at it before. It even started with free mining, having a low value in market, but look at it now.
If you are going to use bitcoin as a store of value and in trading, you will be at the advantage. Bitcoin is really good to be invested upon especially for long-term. It is also good to be traded once in a while depending on your needs. However, if you are planning to use it for your daily necessities and routines, you will surely have a hard time. Don't get me wrong. Bitcoin is good as a mode of payment as well, but the processing time and transaction fees can eat your time and cost you more. IMO these are the areas that bitcoin has to improve for its users convenience.
Fiat money has attributed value because a government declares it legal tender - it has no intrinsic value. ... Bitcoin has intrinsic value beyond the trust of its community. The Comunity of Crypto Currency Is Loving Bitcoin And Invest more and more money in Bitcoin Bitcoin doesn't lean on a system of debts, its value boils down to how effective it is as a medium of exchange.
I don't want to compare bitcoin and fiat because, for now, bitcoin and fiat have different functions in society. While people are still using fiat money, they can also use bitcoin as a new investment besides the current investment they know. If people can not open their minds to the new thing, they will say that fiat money still better than bitcoin, but if they know about the bitcoin function, they will choose bitcoin will be better than fiat.
If you can use bitcoin and still have fiat money in your country, but you can not find a local store that accepts bitcoin, you will think more about what is better between bitcoin and fiat money. It will be no problem if your country can use both bitcoin and fiat money to buy something, so you can say that bitcoin will be better than fiat because bitcoin can be your investment besides of payment system.
If you can use bitcoin and still have fiat money in your country, but you can not find a local store that accepts bitcoin, you will think more about what is better between bitcoin and fiat money. It will be no problem if your country can use both bitcoin and fiat money to buy something, so you can say that bitcoin will be better than fiat because bitcoin can be your investment besides of payment system.
You have many good points here! The one thing that still keeps me from "replacing" Fiat by BtcUsd is simply the fact, that even BTC is controlled. Not by any governments, that is correct. but by several individuals, who hold a huge percentage of BTC in their wallets. So they control the price of bitcoin, to an extend. So basically, if we would replace Fiat by BTC, we would give the control to other ppl, but the currency would still be manipulated.
It seems to me that so far fiat bitcoins are indeed these currencies that are necessary and indispensable.
What are you saying ? what is FIAT BITCOIN? do you really understand what are you saying here?the question is about the comparison of Fiat or Bitcoin and not them both bonding together
Fiat money and bitcoin are two different components, but due to the fact that bitcoin is separated from the state - this is 100%, I would even say that cryptocurrency cannot be controlled and the more it develops, the more I need to control it ... Fiat is needed in its own way, bitcoin is needed in its own way, the state of bitcoin is currently beneficial to all parties.
Not in all parties specially when there are congestion happening when the transaction fees climbing so high that small transactions are really affected.
Fiat money and bitcoin are two different components, but due to the fact that bitcoin is separated from the state - this is 100%, I would even say that cryptocurrency cannot be controlled and the more it develops, the more I need to control it ... Fiat is needed in its own way, bitcoin is needed in its own way, the state of bitcoin is currently beneficial to all parties.
If you ask this on a Bitcoin forum the more responses which will say Yes Bitcoin is better but if you asked this on a financial forum or a banking forum the answer would be more divided. You cannot get a accurate answer because everyone will be bias.
I think that in this question it is still worth clarifying, for what exactly is better for? For investment, I think bitcoin is better, since fiat is highly prone to inflation. And for everyday life, fiat is better, since it is now impossible to use bitcoin as a means of payment.
It depends.
Bitcoin is not that convenient to use in daily purchase, such as buying bread and butter.
But when it comes to store of value, of course Bitcoin is much better investment than fiat.
Bitcoin is not that convenient to use in daily purchase, such as buying bread and butter.
But when it comes to store of value, of course Bitcoin is much better investment than fiat.
Yes Bitcoin is absolutely better than Fiat. Cryptocurrencies such as Bitcoin are not immensely more stable than Fiat currency but they are also safe. According to the crypto specialists Bitcoin will supplant Fiat currency very soon.
Bitcoin is indeed a great Cryptocurrency, when you put your money in Fiat Currency, it doesn't grow. But when one invest in Bitcoin, and have patience. You will definitely make a nice profit. Bitcoin is getting popular everyday, and I believe with time, bitcoin will eventually supplant Fiat Currency. Also with time, many countries will understand the value of Bitcoin, and legalize it.Yes Bitcoin is absolutely better than Fiat. Cryptocurrencies such as Bitcoin are not immensely more stable than Fiat currency but they are also safe. According to the crypto specialists Bitcoin will supplant Fiat currency very soon.
Bitcoin is indeed a great Cryptocurrency, when you put your money in Fiat Currency, it doesn't grow. But when one invest in Bitcoin, and have patience. You will definitely make a nice profit. Bitcoin is getting popular everyday, and I believe with time, bitcoin will eventually supplant Fiat Currency. Also with time, many countries will understand the value of Bitcoin, and legalize it. I myself am an ardent fan of bitcoin, but this process has a lot of underwater phenomena that prevent the legalization and strong spread of bitcoin.It is always interesting to listen to the opinion of specialists who remain in an insignificant minority, who talk about the absolute advantages of decentralized currencies and the insurmountable disadvantages of conventional fiat currencies It will be especially interesting to listen to the opinion of these specialists about the issue, about the management of the economy of an individual state. How can you manage the economy when some guys are swearing like hell what kind of commission is due to minners, and how much to make a commission for transactions... Well, well...
If you ask this on a Bitcoin forum the more responses which will say Yes Bitcoin is better but if you asked this on a financial forum or a banking forum the answer would be more divided. You cannot get a accurate answer because everyone will be bias.
Yes Bitcoin is absolutely better than Fiat. Cryptocurrencies such as Bitcoin are not immensely more stable than Fiat currency but they are also safe. According to the crypto specialists Bitcoin will supplant Fiat currency very soon.
Bitcoin is indeed a great Cryptocurrency, when you put your money in Fiat Currency, it doesn't grow. But when one invest in Bitcoin, and have patience. You will definitely make a nice profit. Bitcoin is getting popular everyday, and I believe with time, bitcoin will eventually supplant Fiat Currency. Also with time, many countries will understand the value of Bitcoin, and legalize it.
Fiat and bitcoin are 2 different things . in daily life we need fiat for fast and secure transaction but we cannot trade to get profit like bitcoin.
Bitcoin is totally different from fiat and both have their own use and importance. In a future if bitcoin accepted as
a payment method than we can say Bitcoin is best.
Bitcoin is totally different from fiat and both have their own use and importance. In a future if bitcoin accepted as
a payment method than we can say Bitcoin is best.
Yes Bitcoin is absolutely better than Fiat. Cryptocurrencies such as Bitcoin are not immensely more stable than Fiat currency but they are also safe. According to the crypto specialists Bitcoin will supplant Fiat currency very soon.
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
For me, bitcoin and fiat do not have their respective advantages and disadvantages. They have their own role. So neither can replace each other in my opinion. They have different functions .. so I 'm sure there is no substitute .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 agree with you. Replacing fiat with cryptocurrency is hardly possible. I also believe that there will always be those who are more comfortable using cryptocurrency and those who use only fiat. Each type of currency has its own functions and its own scope. I prefer to use both. Many services now allow this, especially in Europe. There are a lot of payment solutions, I prefer those that provide cards suitable for use around the world for different purposes, for example, Trastra and Wirex.
They all have their own pros and cons. The pros I can see in Fiat is that it can be available offline, the price is pretty stable compared to bitcoin, many people know it of course the cons that I see is that it is unlimited and the government is in control with most of the transaction.
In Bitcoin the pros is that the transaction is online and can be done in minutes, it's pseudonymous (better than not anonymous), It's pretty known world wide and can be an investment the cons is the volatility of the price, increasing tx fee and the banning of the government to their country to use cryptocurrency.
In Bitcoin the pros is that the transaction is online and can be done in minutes, it's pseudonymous (better than not anonymous), It's pretty known world wide and can be an investment the cons is the volatility of the price, increasing tx fee and the banning of the government to their country to use cryptocurrency.
Both is different values in their own ways . Still I will support btc because fiat is bound to its borders . Every country has their own fiat that do not allows in other countries . Btc is not controlled by anyone but fiat is controlled by central bank Hence, you can make the smallest of transactions very easily. Fiat money value does not increase but if you hold bitcoin it will increase in number . In these case I would love to choose bitcoin.
Bitcoin certainly will not function like fiat, although there are many weaknesses but fiat will not be replaced with bitcoin, the state financial system must indeed be centralized so that the state can intervene and make policies that secure the country's economy.
Everything has got its own importance and unique value. In such a way bitcoin is all about decentralized functioning and gives anonymous access. With fiat the scenario is different, and gives the accountability to the authorities. Bitcoin is accountable, but it's pseudo anonymous feature makes it a better. All people can use fiat, but there is need for technical knowledge to use bitcoin.
Reasons why I think Bitcoin is better than Fiat
Investing or savings in Bitcoin takes no stress, get a wallet address simultaneously. But open an account to save in central bank requires some vital information and documents , it could take days to achieve it all
Investing or savings in Bitcoin takes no stress, get a wallet address simultaneously. But open an account to save in central bank requires some vital information and documents , it could take days to achieve it all
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