Is Bitcoin better than Fiat? - page 5.

Charot12345

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

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

We all know that Bitcoin and Fiat has its own advantages and disadvantages. A limitation of bitcoin can be the strength of fiat and vise versa.
Is bitcoin better than fiat? well it depends on your needs, on the situation and your goal. If you plan on saving and expect more profit for a long term it is better to have bitcoins. But in some cases li0ke if you need it for daily needs and to buy some small thing you will need fiat.

PivotBh3

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Bitcoin cryptocurrency is very reliable financial instruments, the architectural design of bitcoin make it more safe, reliable and transparent . Bitcoin has limited supply in circulation while Fiat has unlimited supply which are prone to manipulation. Bitcoin has high tendency of growth while fiat is limited.

raisajahan

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Sometimes bitcoin is better than fiat in my opinion because the price of bitcoin ups and down. For that reason the price of bitcoin is increasing gradually but in the fiat currency is always fixed. Fiat never ups and down so price is fixed if i hold even for 10 years but if i hold bitcoin it may give you 100 times profit. So in my opinion bitcoin is better than fiat.

Abiky

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Quote from: Tumanggor on July 17, 2021, 04:19:15 AM

in every way Bitcoin is much better than fiat, people who transact with Bitcoin feel the freedom they won't get when using fiat
Transferring large amounts of assets with just one click on a smartphone or laptop screen is true freedom

Decentralized Bitcoin is a wonder of the world whereas fiat is controlled by the government and they are free to print it anytime

That's certainly true, mate. Bitcoin is freedom while Fiat is all of the contrary. Censorship-resistant money is what empowers people to be their own bank. It wasn't because of Satoshi's invention, we would've been stuck with banks by now. We can finally send/receive money around the world without borders or restrictions whatsoever. The only downside about Bitcoin is its unstable prices relative to Fiat. But that's not an issue if you use Bitcoin as a unit of account. Paying for things with Bitcoin regardless of its price makes sense in the decentralized world of crypto/Blockchain tech.

One thing for sure is that Banks, governments, and other haters will always criticize Bitcoin. But if there's a community backing it every step the way, the project will only become bigger and stronger over time. As long as Bitcoin stays decentralized, people will have an "escape route" from the current monetary system subject to fraud, manipulation, and corruption. Bitcoin or Fiat, it seems that both will survive for many generations. Just my thoughts Grin

krky

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Bitcoin is a decentralized currency with zero government regulation; hence you can use it from any parts of the world without maintaining any strict restrictions or regulations. more flexibility a user can enjoy in the case of bitcoin compared to fiat money.

bitzizzix

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The most notable one is because bitcoin is decentralized and while fiat currencies are centralized or centralized and a centralized system means being controlled by a government, central bank or a specific entity.
and bitcoin is freedom and also there is no third party in the transaction or done peer-to-peer, and can receive and send in no time without a third party safely and conveniently, and there are many advantages and disadvantages of both.

Mr.sprin

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Both currencies have their respective advantages. fiat currency is still very popular for daily transactions, while bitcoin is used by the upper middle class, they prefer to store their assets in the long term, so I conclude that these two currencies have their respective advantages.

Golftech

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Quote from: Rehan Zakir on July 17, 2021, 06:52:24 AM

Both currencies have different importance. Bitcoin is a decentralized currency. And Fiat is a centralized currency. Bitcoin currency can be send within minutes without providing any personal detail to your receiver. We send money on Bitcoin wallet, no one knows who is the owner of the wallet. There is no government that is involved in this currency. So, these are the differences that make the bitcoin better than fiat

One of the factor that Bitcoin is better than fiat, if being used correctly this advantage will allow end users to end

the service, imagine you can send your money thru bitcoin without any interval oming from the government and any

middleman, you can receive and send without worrying, just need to make sure that you are fully aware with how the

system works.

Altcoinsintel

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

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

I don't know what exactly is this that you mean by Bitcoin. Bitcoin in the form of BTC can't scale on-chain, or devs have abandoned any attempts to scale under what they claim is fears of losing decentralization. Now, you should explore it further if it can replace fiat, with all the third parties and second layers that seem to reduce decentralization and even create custodial problems, or reduce the immutability and create an environment that could censor transactions, increase ID verification and even block transactions, thus reducing financial freedom.

Malam90

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

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

We all know that Bitcoin is a Decentralized currency where Fiat currencies are most centralized currencies. From the perspective of the Govt, Bitcoin isn't good for the country for it's decentralization but investors love it as their identity remain hidden here. Investors invest in Bitcoin for profits but investment in Fiat coins doesn't generate profits as fiat coin's price remains stable. Fiats are used just for trade and keep portfolio balance same in times of volatility.

Rehan Zakir

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Both currencies have different importance. Bitcoin is a decentralized currency. And Fiat is a centralized currency. Bitcoin currency can be send within minutes without providing any personal detail to your receiver. We send money on Bitcoin wallet, no one knows who is the owner of the wallet. There is no government that is involved in this currency. So, these are the differences that make the bitcoin better than fiat

Tumanggor

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

~

in every way Bitcoin is much better than fiat, people who transact with Bitcoin feel the freedom they won't get when using fiat
Transferring large amounts of assets with just one click on a smartphone or laptop screen is true freedom

Decentralized Bitcoin is a wonder of the world whereas fiat is controlled by the government and they are free to print it anytime

Liamttw

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Fiat currency is the currency of circulation issued by the state, the price of fiat currency is more stable and better than Bitcoin in daily transactions.
Cryptocurrency is a popular trend in the modern financial economy, and Bitcoin as the mainstream currency in cryptocurrency, has attracted more attention. The decentralized nature of Bitcoin is not regulated by the government. It can be traded globally in the Bitcoin network system, and the cost of large cross-border transactions is very low. Investing in Bitcoin and holding it for a long time can make a lot of profits.

Abiky

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Quote from: BlinkInDie on July 15, 2021, 08:03:37 AM

Bitcoins original aim was to be an alternative currency and it has largely failed in that. It is now a store of value, basically digital gold.

Other cryptos like MATIC and for DeFi Games - AXIE and $ANRX may end up being better than fiat, most likely though it will just be stablecoins and CBDCs that will take the spot

I see what you mean. At its current state, Bitcoin is terrible for day-to-day payments. That's because the main blockchain network has limited transaction capacity. Fortunately, there's an "off-chain" scaling solution dubbed "The Lightning Network" which aims to make Bitcoin a true digital cash system. The real challenge would be dealing with volatility. Stablecoins are a much better option in this regard, but they're limited to the underlying Blockchain network's transaction capacity. Despite the inherent flaws of crypto/Blockchain tech, I'd say Bitcoin is better than Fiat simply because it's decentralized and censorship-resistant. It's sound money anyone can use without limitations or restrictions whatsoever.

Of course, Bitcoin will never replace Fiat. But it'll remain as an alternative for those looking into an "exit route" from the current monetary system. Just my thoughts Grin

clint25n

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we all know that bitcoin is much better than fiat, it can't be denied that the nyabhal has been proven by several things, maybe corruption can occur with the presence of both parties in illegal transactions that will make people not meet a price agreement or experience price changes between each other

Handpari

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Well for me when I have researched hard currency versus electronic currency is that anything electronic can be wiped . Hard currency cannot .. and for me I believe I would rather have the option to have savings tucked away

NicNacCoin

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Quote from: nhaila on July 15, 2021, 02:26:21 PM

I think bitcoin obviously better than Fiat money because day by day people are preferring to themselves in digital currency where a lots of opportunities that are absence in Fiat currency. Bitcoin very risky but profitable that Fiat currency.

Where Bitcoin a accepted legalize currency there Bitcoin obviously better than Fiat money but in where Bitcoin fully prohibited there Bitcoin not perfect than Fiat. But in my personal view Bitcoin far far better than. Fiat currency.

worldofcoins

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Quote

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.

Is it, for the time being.

I'm already seeing government, banks or other institutions are already trying to take over bitcoin and related cryptocurrencies.

The amount of money these officials hold is more than the total market cap of all cryptocurrencies, If they want to use crypto then I'm sure they'll create theirs and promote that one. If they want to use an existing one then all they have to do is wait for the price to go down or make it go down so that they can buy it.

I'm sure in the future when everything's centralized including our Brain, which will be connected to AI (that's what is coming) then you'll be able to pay wirelessly without cards, Most likely the server your brain is connected to will have all the documents you need, So they may temporarily use crypto but they'll push their centralized agenda for sure in future.

nhaila

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I think bitcoin obviously better than Fiat money because day by day people are preferring to themselves in digital currency where a lots of opportunities that are absence in Fiat currency. Bitcoin very risky but profitable that Fiat currency.

BlinkInDie

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Bitcoins original aim was to be an alternative currency and it has largely failed in that. It is now a store of value, basically digital gold.

Other cryptos like MATIC and for DeFi Games - AXIE and $ANRX may end up being better than fiat, most likely though it will just be stablecoins and CBDCs that will take the spot

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