Is Bitcoin better than Fiat? - page 6.

boyptc

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Quote from: Abiky on July 09, 2021, 01:32:22 PM

Quote from: boyptc on July 01, 2021, 06:52:20 PM

Not that early to tell but we're still in the process to see that every country can say that it's better than fiat. But IMHO, there's no need for us to compare the two.

We still need cash as most countries haven't adopted bitcoin yet and we have to use to pay for our needs. While we own bitcoin, it's a good investment to hold and someday, hopefully that more stores we can use it for expenditures.

But mostly, wouldn't want to use it as a payment but rather as an investment.

Both types of currencies have their respective advantages/disadvantages. In other words, no currency is perfect. I've said this many times already. Bitcoin is better than Fiat since it's sound money outside the scope of governments and central banks alike. But it's terrible for day-to-day payments because of the wild fluctuations in price. Bitcoin is more suitable as a long-term investment (like Gold) than digital cash for mainstream payments. While Fiat is stable and backed by the government, it's constantly manipulated and controlled by said entity. No one will be able to transact freely using Fiat, since any transaction deemed suspicious can result in the seizure of funds.

Depending on your situation, will be the type of currency to use for debts public and private. Neither Bitcoin will replace Fiat or vice versa. I'm okay with that as long as Bitcoin "sticks" to the core values of decentralization and censorship-resistance. Just my thoughts Grin

Sounds good.

I like that last sentence you've said and I agree to that. As long as the main reason why everyone is holding bitcoin and the first reason why we've been strucked to it is because of the 'technology'.

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Quote from: Abiky on March 19, 2021, 02:22:22 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

• Low storage and transfer fees: Bitcoin has no storage fees when compared to traditional financial systems. Bitcoin is superior to fiat money when it comes to money transmission. With the rise in the price of bitcoin, the amount transferred will rise as well. However, it will still be less expensive than fiat cash.

• Its division enables for small transactions: Bitcoin transactions up to the 100 millionth part are authorised. It actually means that each transaction is worth 0.00000001 part, and this number is known as Santoshi ( in order to honour its creator). As a result, even the simplest transactions are simple to complete. It is impossible to do so all of the time in the case of fiat currency. Thus, bitcoin is the most equitable mode of transactions that one can have. The more you explore bitcoin, the better you can know about it.

andriarto

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Quote from: lepbagong on July 11, 2021, 10:04:07 PM

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Bitcoin and fiat money have their own advantages and disadvantages. There is no need to compare them. Some countries now set bitcoin as fiat money. So Bitcoin and fiat money are characterized by payment transactions, but bitcoin is decentralized, bitcoin is centralized, but the good thing about bitcoin is that it’s investable, profitable, and valuable.

it is clear what you say is true, that paper money and bitcoin clearly have their own advantages that each other does not have. for that it is better for them to synergize with each other to complement each other, where bitcoin cannot be used so that paper money can do and vice versa for what bitcoin banknotes cannot do. So with the synergy together, there will be many benefits. because every country will have many differences in responding to the existence of bitcoin and not all of them are the same.

indeed for the initial purpose of bitcoin being able to synergize with paper money is a very good achievement. and let the development of later times that will select it. for now I think it will be a problem if itcoin replaces paper money, because there are still many people who don't know it, because everything of course requires a process

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Quote from: mckinleeanael07 on July 10, 2021, 03:45:29 AM

I feel BTC is better than Fiat , and it has proved a lot for us . But it depends on each case that you use it , for example you go to buy goods with a value If it's small, about 1$, compared to paying BTC, this number is hard to pay. but if talking about long term storage or gold of the future then BTC is the best choice.

what you say that bitcoin is better than fiat, not really. because every country has different rules at this time and can't be averaged, in a place where bitcoin is not recognized it is clear that fiat is still the best. but where bitcoin is recognized there are still many people who need fiat because some aspects can't all be done by paying with bitcoin.

so actually both are equally good and it's good to cover each other's shortcomings from each of the necessary needs. let bitcoin and fiat cover each other's shortcomings that can complement each other.

bitcoin and gold both are good investments but for the long term clearly I agree with you, that bitcoin will be better, because bitcoin will never go down in price, once every 4 years a renewable price will form.

lepbagong

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Quote from: ?? on ??

Bitcoin and fiat money have their own advantages and disadvantages. There is no need to compare them. Some countries now set bitcoin as fiat money. So Bitcoin and fiat money are characterized by payment transactions, but bitcoin is decentralized, bitcoin is centralized, but the good thing about bitcoin is that it’s investable, profitable, and valuable.

it is clear what you say is true, that paper money and bitcoin clearly have their own advantages that each other does not have. for that it is better for them to synergize with each other to complement each other, where bitcoin cannot be used so that paper money can do and vice versa for what bitcoin banknotes cannot do. So with the synergy together, there will be many benefits. because every country will have many differences in responding to the existence of bitcoin and not all of them are the same.

mckinleeanael07

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I feel BTC is better than Fiat , and it has proved a lot for us . But it depends on each case that you use it , for example you go to buy goods with a value If it's small, about 1$, compared to paying BTC, this number is hard to pay. but if talking about long term storage or gold of the future then BTC is the best choice.

Roy Asher

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Compared with fiat currency, Bitcoin has advantages and disadvantages. Bitcoin transactions are safe and fast. Large transfers are more convenient. It does not require the bank to review the user’s own property. Compared with legal currency, it is more unstable, and transactions cannot be guaranteed by security and credit. However, relative to the advantages, the advantages outweigh the disadvantages. Users with large assets are best to hold Bitcoin.

ropyu1978

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Quote from: Nora Olin on July 10, 2021, 01:59:33 AM

This is already obvious. Some countries have replaced the original currency with Bitcoin. I don’t know how long the policies introduced by El Salvador will last. I really want to see how it turns out, but if I choose to pay, I would still choose fiat currency instead of Bitcoin. I just want to keep Bitcoin, and I don’t plan to use it to buy Tesla or other large items.

I agree with your opinion, friend, it is undeniable that the presence of bitcoin has had a very positive impact on us, and has made our finances better, a very difficult choice if asked to choose bitcoin or fiat, I will also use fiat for daily needs day to buy goods, and I will still make bitcoin an asset, for my future,

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This is already obvious. Some countries have replaced the original currency with Bitcoin. I don’t know how long the policies introduced by El Salvador will last. I really want to see how it turns out, but if I choose to pay, I would still choose fiat currency instead of Bitcoin. I just want to keep Bitcoin, and I don’t plan to use it to buy Tesla or other large items.

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Quote from: boyptc on July 01, 2021, 06:52:20 PM

Not that early to tell but we're still in the process to see that every country can say that it's better than fiat. But IMHO, there's no need for us to compare the two.

We still need cash as most countries haven't adopted bitcoin yet and we have to use to pay for our needs. While we own bitcoin, it's a good investment to hold and someday, hopefully that more stores we can use it for expenditures.

But mostly, wouldn't want to use it as a payment but rather as an investment.

Both types of currencies have their respective advantages/disadvantages. In other words, no currency is perfect. I've said this many times already. Bitcoin is better than Fiat since it's sound money outside the scope of governments and central banks alike. But it's terrible for day-to-day payments because of the wild fluctuations in price. Bitcoin is more suitable as a long-term investment (like Gold) than digital cash for mainstream payments. While Fiat is stable and backed by the government, it's constantly manipulated and controlled by said entity. No one will be able to transact freely using Fiat, since any transaction deemed suspicious can result in the seizure of funds.

Depending on your situation, will be the type of currency to use for debts public and private. Neither Bitcoin will replace Fiat or vice versa. I'm okay with that as long as Bitcoin "sticks" to the core values of decentralization and censorship-resistance. Just my thoughts Grin

boyptc

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Not that early to tell but we're still in the process to see that every country can say that it's better than fiat. But IMHO, there's no need for us to compare the two.

We still need cash as most countries haven't adopted bitcoin yet and we have to use to pay for our needs. While we own bitcoin, it's a good investment to hold and someday, hopefully that more stores we can use it for expenditures.

But mostly, wouldn't want to use it as a payment but rather as an investment.

Fatunad

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Quote from: cotton ball on July 01, 2021, 01:00:06 PM

Quote from: ?? on ??

I think those are two things that can't be compared, because they both have their own characteristics, and the advantages are, simply there's nothing better, and there's nothing worse, both of which we just need.

I totally agree with your opinion, friend, bitcoin and fiat have their own advantages, they can't be separated, like day and night, like rice and fish, need each other, like adam and eve, like romeo n juliet, they are a perfect match, who always strengthen each other, need each other, and cannot be separated, cannot be compared with each other, because they always live side by side.

They do really have some big differences but to look upon on where crypto do really get its value? It do came from fiat right? Centralized and Decentralized.
Anonymous and Trackable, volatile and non volatile, these are just the basics but both do really function on the same way in terms of payment but there
are notable differences like irreversible transactions, anonymous and cant be controlled.
This is why crypto did really get some recognition and popularity because of these main characteristics.

cotton ball

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Quote from: ?? on ??

I think those are two things that can't be compared, because they both have their own characteristics, and the advantages are, simply there's nothing better, and there's nothing worse, both of which we just need.

I totally agree with your opinion, friend, bitcoin and fiat have their own advantages, they can't be separated, like day and night, like rice and fish, need each other, like adam and eve, like romeo n juliet, they are a perfect match, who always strengthen each other, need each other, and cannot be separated, cannot be compared with each other, because they always live side by side.

alevlaslo

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Btc no, tron yes

SacriFries11

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fiat currency can be controlled by the government for example there is an inflation in a certain government what will be the solution, with fiat, the government can control it while on bitcoin, it is decentralized and cannot be manipulated by the government. they cannot control because bitcoin has limited supply. if the demand is high in bitcoin and the circulating supply of bitcoin is lesser then, its price and value becomes higher unlike fiat the government will just print in case of inflation.

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Quote from: Abiky on June 29, 2021, 01:25:40 PM

~
Of course, Bitcoin is not as stable as Fiat is. Bitcoin constantly fluctuates in price, making it terrible for short-term use. As long as the issue persists, Fiat will remain the winner. I wouldn't worry about that since Bitcoin was never meant to replace Fiat. It's only an alternative for those looking for an "escape route" from mainstream banks and governments alike. As long as Bitcoin remains decentralized and censorship-resistant, nothing else matters. Just my thoughts Grin

that is why btc is not good enough if used as a means of payment, the volatility is high. But if you look at it in terms of effectiveness, without space and time limitations, without the need to take care of complicated administration like in the conventional financial system, btc can be used as an alternative for transactions between countries. well, from my point of view, according to my needs, btc has more potential to be a long-term trading and investment commodity.

Abiky

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Quote from: Arget07 on June 27, 2021, 01:21:14 AM

bitcoin is not the most convenient payment tool to compete with FIAT currencies. There are more suitable cryptocurrencies for payments. Bitcoin is more suitable as "gold" from the price of which other coins or tokens that are more suitable for the role of a means of payment will be repelled. But your hidden advertising of the coin is also noticeable.

That's certainly true, mate. Bitcoin is not suitable for day-to-day payments because of its limited transaction capacity. Other altcoins perform better in this regard with on-chain scalability. But this comes at a cost of increased centralization. Fortunately, developers are working on a long-term solution for Bitcoin's scalability. The Lightning Network is being constantly improved in order to make Bitcoin suitable for daily payments. All it needs is mainstream adoption, and Bitcoin could become better than Fiat.

Of course, Bitcoin is not as stable as Fiat is. Bitcoin constantly fluctuates in price, making it terrible for short-term use. As long as the issue persists, Fiat will remain the winner. I wouldn't worry about that since Bitcoin was never meant to replace Fiat. It's only an alternative for those looking for an "escape route" from mainstream banks and governments alike. As long as Bitcoin remains decentralized and censorship-resistant, nothing else matters. Just my thoughts Grin

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Quote from: bitterguy28 on June 27, 2021, 09:33:33 PM

If what you are saying is that Bitcoin is not the most suitable then why people are still believing on this compared to other altcoins?

Bitcoin is the best option to use as payment method , that is why you will believe on this or forget it forever,..

The fee paid for transaction using altcoin is low, the speed is faster than bitcoin, do not try to make certain excuses that are not true, bitcoin is superior, we all know that, but not in making transaction because altcoin are better for making transactions with low fee and fast speed. .

Yes, altcoins such as Tron have better transaction speed and low fees compared to Bitcoin. Also, Bitcoins volatility recently create problems such as if I am buying Bitcoin using Fiat to send but Bitcoin value decreases in the meantime. The price fall sometimes has a huge difference for which transaction gets postponed in the case of Bitcoin.

Also, if we compare Bitcoin with fiat, I would say we still can't rely on Bitcoin completely for any transaction if there is an option for fiat which is cost-effective and easy. And the recent delay and fee structure make it tough to compare with fiat. But altcoins, as mentioned above, can be of great help it is based on the acceptance of the coin.

ropyu1978

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it is still very early to compare bitcoin with fiat, it is undeniable that bitcoin has had a very good impact on us, bitcoin has also made our finances better, we can also use bitcoin as an asset for our future, we can't make bitcoins short currencies, such as fiat, so for now we can't compare bitcoin with fiat..

CryptoStar19

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Quote from: bitterguy28 on June 27, 2021, 09:33:33 PM

If what you are saying is that Bitcoin is not the most suitable then why people are still believing on this compared to other altcoins?

Bitcoin is the best option to use as payment method , that is why you will believe on this or forget it forever,..

The fee paid for transaction using altcoin is low, the speed is faster than bitcoin, do not try to make certain excuses that are not true, bitcoin is superior, we all know that, but not in making transaction because altcoin are better for making transactions with low fee and fast speed. .

Yes. Bitcoin's superiority comes from the narrative around it and the fact that it is the most established and accepted crypto asset as a store of value. Bitcoin's advantage doesn't come from its technical fundamentals.

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