Topic: Is Bitcoin better than Fiat? - page 8. (Read 4279 times)
I'm a true bitcoin lover, but if you say bitcoin is better than fiat, I think it's probably too early for us to talk about it, if for now it's not the time to say bitcoin is better than fiat, because at the moment it's 80% of us still using fiat currency, maybe until whenever fiat is the best, and bitcoin can't replace fiat..
legendary
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^^ It's true, Bitcoin is unstoppable and will still exist in this world even if the government forbids it. But we all also understand that the existence of Bitcoin is still very much influenced by governments in big countries or world-class people who have a high level of influence. A little mention of bitcoin by these people, greatly affects the movement of the market.
The speed of user growth is greatly influenced by the government, although it can stand without government assistance, Bitcoin will be stronger when a government decides to join. It's like the most powerful promotional media globally.
The speed of user growth is greatly influenced by the government, although it can stand without government assistance, Bitcoin will be stronger when a government decides to join. It's like the most powerful promotional media globally.
While the government chose to ban it rather than support it to maintain fiat. This is a phenomenon that is happening today with bitcoin as a modern payment system. Government in many countries are constantly trying to control bitcoin and want to make it non-decentralized but so far they can't have it.
To make it a widely adopted mean of payment in many countries, I think will be difficult to achieve because government in many countries insist not to give us the freedom to do so. This may have been thought of by Satoshi so that bitcoin is said to still be subject to the rule and jurisdiction of a country as legal tender.
To make it a widely adopted mean of payment in many countries, I think will be difficult to achieve because government in many countries insist not to give us the freedom to do so. This may have been thought of by Satoshi so that bitcoin is said to still be subject to the rule and jurisdiction of a country as legal tender.
Governments will ultimately fail in banning Bitcoin's widespread use worldwide. The least they can do is restrict people from trading Fiat to crypto via a centralized exchange. But that's it. Peer-to-peer transactions occurring on the Blockchain is beyond any governments' control. Either governments and central banks join the revolution or get left behind in the dust. It looks like governments have decided to join the revolution as they prepare themselves for the launch of central bank digital currencies (CBDCs). This could undermine Bitcoin's adoption in the mainstream world, as people will find a CBDC a much better choice for day-to-day payments. Only a very small minority who cares about decentralization and censorship-resistance will use Bitcoin no matter what.
Whenever Bitcoin is better than Fiat or not, that's up to the person to decide. I've said this many times already. For some people, Bitcoin is better than Fiat because it's sound money outside the scope of central banks and governments alike. But for others, Fiat is better because of its stability and reliability as a medium of exchange for goods and services. Depending on a person's needs, will be the type of currency to use. Just my opinion
In terms of value storage, I think Bitcoin has more advantages. As a long-term investment, Bitcoin is more valuable than legal currency. Legal currency may continue to depreciate, but Bitcoin will not. The number is getting smaller and smaller, and more people will choose to hold Bitcoin to maintain their value instead of fiat currency.
It is upto the user. For people who prefer bitcoin for investment and for trading purposes will find it better than fiat. Because, the Market volatility will bring profit if we make the right moves. One can't expect this with fiat. Because with forex the fluctuation is very minimal and it requires a very large capital to make better profit.
In terms of day to day life fiat is the best, because we haven't got the bitcoin acceptance all around and the transaction fee is high when we compare with the card transactions on purchasing.
In terms of day to day life fiat is the best, because we haven't got the bitcoin acceptance all around and the transaction fee is high when we compare with the card transactions on purchasing.
If you are required to Compare for traditional banking services, bitcoin would be having no storage cost. In case of transfering of money, bitcoin is considered to be much more better than the fiat money. With the increase in the price of the bitcoin, the transfer amount would also be increasing with it.
For transaction and payment that are approved using bitcoin, then I prefer to use bitcoin to do it compared to fiat, especially transaction from different countries. Although I know these two payment system have their pros and cons, but for personal reason, I might prefer bitcoin over fiat.
To make it a widely adopted mean of payment in many countries, I think will be difficult to achieve because government in many countries insist not to give us the freedom to do so. This may have been thought of by Satoshi so that bitcoin is said to still be subject to the rule and jurisdiction of a country as legal tender.
For Bitcoin to succeed, it needs to have widespread adoption in the mainstream world. And that can only be achieved if governments support it.
While the government chose to ban it rather than support it to maintain fiat. This is a phenomenon that is happening today with bitcoin as a modern payment system. Government in many countries are constantly trying to control bitcoin and want to make it non-decentralized but so far they can't have it.To make it a widely adopted mean of payment in many countries, I think will be difficult to achieve because government in many countries insist not to give us the freedom to do so. This may have been thought of by Satoshi so that bitcoin is said to still be subject to the rule and jurisdiction of a country as legal tender.
both have advantages and limitation,
bitcoin is a digital asset and it's significantly uses in online platform, huge different benefits we can get to using it, on the other hand it can be abuses in dark side.
fiat is more than familiar currency in bitcoin i think, it's can exchange without internet and can buy anything instantly.
bitcoin is a digital asset and it's significantly uses in online platform, huge different benefits we can get to using it, on the other hand it can be abuses in dark side.
fiat is more than familiar currency in bitcoin i think, it's can exchange without internet and can buy anything instantly.
The government makes fiat money to be accepted and used by its people. While cryptocurrencies are supported by the community and used by the community itself.
Here the door to global adoption lies in the hands of the governments of 195 countries in the world. If they say "Yes" to cryptocurrencies, then we can see that cashless culture will be easier for people to meet. But when they say "No", then cryptocurrency will only be of value to the community on the basis of belief in Bitcoin and Altcoins, which are valuable to each of them.
Here the door to global adoption lies in the hands of the governments of 195 countries in the world. If they say "Yes" to cryptocurrencies, then we can see that cashless culture will be easier for people to meet. But when they say "No", then cryptocurrency will only be of value to the community on the basis of belief in Bitcoin and Altcoins, which are valuable to each of them.
For Bitcoin to succeed, it needs to have widespread adoption in the mainstream world. And that can only be achieved if governments support it. While a ban will not affect the Blockchain directly, it will certainly drive most people away from Bitcoin. This means decreased mainstream adoption as people rely on Fiat more thoroughly for day-to-day payments.
Still, I believe that Bitcoin will stand the test of time thanks to its decentralized and open source nature. Whenever it's better or worse than Fiat, that's up to the person to decide. In some cases, Bitcoin is better than Fiat because of its censorship-resistant design. But in others, Fiat is better than Bitcoin because of its stability and widespread merchant acceptance. It all depends on what you'll be doing in daily life. I'd say it's best to use both Bitcoin and Fiat for your own financial benefit. You can leverage both currencies' advantages/disadvantages to live a better life in the long term. Bitcoin will remain as an alternative to Fiat because of its limited merchant acceptance and price volatility. As long as there's a community backing Bitcoin every step of the way, nothing else matters. Just my opinion
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.
Although inflation is an irrefutable feature of legal currency, it does not mean that inflation is necessarily bad. The government can use inflation to macro-control a country's economic conditions. For example, when a country encounters a fiscal deficit crisis, the country can maintain the stability of the country's economy by over-printing legal currency. At the same time, Bitcoin's deflation will also bring many unsolvable problems. When all bitcoins are mined, bitcoins will not have any supplementary means. In this case, people who hold Bitcoin in their hands will hold Bitcoin more firmly, because they know that the price of Bitcoin will rise in the future because of deflation, and they are more inclined not to sell Bitcoin. The number of bitcoins in circulation on the market will become less and less. When the transaction volume is in a state of daily decline, this itself is an unhealthy system.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.
That is why the function of Bitcoin may slightly change over time. Nothing is set in stone and if there is no emission from the block reward anymore or at least an mission close to zero its primary function may turn into being a store of value, while for a while before we reach that point it might primarily serve as a payment method for large payments cross border.
Each has its own advantages. For example, you can choose fiat currency in normal transactions, and you can choose Bitcoin for cross-border large-value payments, which is convenient and fast.
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.
Although inflation is an irrefutable feature of legal currency, it does not mean that inflation is necessarily bad. The government can use inflation to macro-control a country's economic conditions. For example, when a country encounters a fiscal deficit crisis, the country can maintain the stability of the country's economy by over-printing legal currency. At the same time, Bitcoin's deflation will also bring many unsolvable problems. When all bitcoins are mined, bitcoins will not have any supplementary means. In this case, people who hold Bitcoin in their hands will hold Bitcoin more firmly, because they know that the price of Bitcoin will rise in the future because of deflation, and they are more inclined not to sell Bitcoin. The number of bitcoins in circulation on the market will become less and less. When the transaction volume is in a state of daily decline, this itself is an unhealthy system. 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.
I think so. Fiat currency has the following advantages over Bitcoin:
1. People have a stronger consensus on legal currency. Fabi is issued by the state as a credit endorsement to serve its citizens. In maintaining the stability and value of Fabi, every citizen of the country will be on the front line. This consensus generated by the nation and the state is the most powerful.
2. The legal currency is more environmentally friendly. Bitcoin mining machines will cause a lot of energy consumption when they are working, I believe everyone knows this.
3. The volume of legal currency is large enough. The large volume also proves that it has a wider scope of application and stronger safety.
1. People have a stronger consensus on legal currency. Fabi is issued by the state as a credit endorsement to serve its citizens. In maintaining the stability and value of Fabi, every citizen of the country will be on the front line. This consensus generated by the nation and the state is the most powerful.
2. The legal currency is more environmentally friendly. Bitcoin mining machines will cause a lot of energy consumption when they are working, I believe everyone knows this.
3. The volume of legal currency is large enough. The large volume also proves that it has a wider scope of application and stronger safety.
In some countries, Bitcoin has not yet become popular, and Bitcoin has not been fully allowed in daily transactions, and the transaction fees will be higher, which is not as convenient as legal tender. But Bitcoin is a store of value, and the price may rise after buying Bitcoin. Bitcoin will have an advantage over legal tender in terms of storing value.
The countries where Bitcoin isn't allowed are precisely the countries where Bitcoin is needed. Those countries ae often authoritarian and their leaders are afraid to give away their dictatorship over the national financial system which they use to exploit their own people. It is tragic. We need wallets that can b disguised on mobile phones or so in a way that they don't have to fear to get caught owning Bitcoin. Just imagine when they raid a house because somebody says that somebody else owns digital currencies.
it depends on the specific circumstance you are in.
in daily payment, fiat is second to none. Bitcoin cannot replace it(at least for now or in a dozen of years to come), unless new tech is applied in Bitcoin to make it convenient for every day life without the troublesome bother of high gas fee.
However, in terms of wealth maintenance, Bitcoin is far better than fiat, which is rather susceptible to inflation and central banks, to government. Bitcoin is also preferable in trade of large amount of money to save service charge. it's recommended as well in cross-border transaction to shy away from exchange of fiats of different countries.
everything is mixed blessing. the usage of fiat is limited in a global prospect, while Bitcoin can be volatile. But I believe in Bitcoin and I have some to defend the value of my money, fiat in my necessity in daily life.
in daily payment, fiat is second to none. Bitcoin cannot replace it(at least for now or in a dozen of years to come), unless new tech is applied in Bitcoin to make it convenient for every day life without the troublesome bother of high gas fee.
However, in terms of wealth maintenance, Bitcoin is far better than fiat, which is rather susceptible to inflation and central banks, to government. Bitcoin is also preferable in trade of large amount of money to save service charge. it's recommended as well in cross-border transaction to shy away from exchange of fiats of different countries.
everything is mixed blessing. the usage of fiat is limited in a global prospect, while Bitcoin can be volatile. But I believe in Bitcoin and I have some to defend the value of my money, fiat in my necessity in daily life.
In some countries, Bitcoin has not yet become popular, and Bitcoin has not been fully allowed in daily transactions, and the transaction fees will be higher, which is not as convenient as legal tender. But Bitcoin is a store of value, and the price may rise after buying Bitcoin. Bitcoin will have an advantage over legal tender in terms of storing value.
Well, cryptocurrency doesn't really have any value. They're unsupported. But the dollar, for example, is also unsupported by anything, only "the government's ability to keep the value of money relatively stable - and nothing else." The situation with the euro is different, it is tied to gold, as is the Swiss fnrack. What about cryptocurrency? It turns out that nothing, only faith
The government makes fiat money to be accepted and used by its people. While cryptocurrencies are supported by the community and used by the community itself.
Here the door to global adoption lies in the hands of the governments of 195 countries in the world. If they say "Yes" to cryptocurrencies, then we can see that cashless culture will be easier for people to meet. But when they say "No", then cryptocurrency will only be of value to the community on the basis of belief in Bitcoin and Altcoins, which are valuable to each of them.
It can be easily said that bitcoin is better than fiat with so many reasons, but truth be told bitcoin needs fiat in this present time, fiat has it's own importance so as bitcoin too, well for me I don't think bitcoin will replace fiat because there are so many limitations to that which we all know. Most government will surely accept bitcoin as a means of payment or even as a currency in their country but won't ever replace their country's currency with bitcoin, every country currency represents it's country so there can't actually change that.
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
Well, cryptocurrency doesn't really have any value. They're unsupported. But the dollar, for example, is also unsupported by anything, only "the government's ability to keep the value of money relatively stable - and nothing else." The situation with the euro is different, it is tied to gold, as is the Swiss fnrack. What about cryptocurrency? It turns out that nothing, only faith
The government makes fiat money to be accepted and used by its people. While cryptocurrencies are supported by the community and used by the community itself.
Here the door to global adoption lies in the hands of the governments of 195 countries in the world. If they say "Yes" to cryptocurrencies, then we can see that cashless culture will be easier for people to meet. But when they say "No", then cryptocurrency will only be of value to the community on the basis of belief in Bitcoin and Altcoins, which are valuable to each of them.
I guess we could say it is pretty much better than fiat money in a lot of aspects, like online transactions, etc. But not really as what the fiat is used for since I don't think bitcoin is better in terms of spending or buying something in a store.
Bitcoin market price is just too high to become fiat money that you could spend and with the volatile price in the market it's really not suitable to be money, but more on investment since it is profitable at that aspects.
Also not all stores at this moment are gonna accept your bitcoin even though it has a value, not everyone will accept it since its risky to hold this cryptocurrency, Still better than fiat for sure but compared to some altcoins there are altcoins that are better than bitcoin that is more suitable to replace the dollar or fiat money. I mean just imagine the transaction speed of bitcoin if we used it as a fiat money.
Bitcoin market price is just too high to become fiat money that you could spend and with the volatile price in the market it's really not suitable to be money, but more on investment since it is profitable at that aspects.
Also not all stores at this moment are gonna accept your bitcoin even though it has a value, not everyone will accept it since its risky to hold this cryptocurrency, Still better than fiat for sure but compared to some altcoins there are altcoins that are better than bitcoin that is more suitable to replace the dollar or fiat money. I mean just imagine the transaction speed of bitcoin if we used it as a fiat money.
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