Just my own thoughts | Bitcointalksearch.org

TheUltraElite

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Quote from: istiak2277 on February 27, 2022, 03:11:39 PM

Competition occurred when two same type of things conflict with each other for superiority. Bitcoin and Fiat has two totally different infrastructure and system of processing. We can do comparison between them about their use case and convenient way of using. Let the people decide which one to chose. Most popular one will survive at the end and others will perish.

I don't think either will perish. They are both having good and bad things, bitcoin is deflationary while fiat is inflationary. The number of Fiat users is way more than the total number of Bitcoin users. So both will exist and people will have the freedom of choice.

This is not a question of popularity but a question of pros and cons. If electricity and internet go down, fiat is your only option that too hard cash, even digital fiat would not work. Similarly for long term appreciation of value bitcoin is the better option.

We can't call one as future, otherwise we will be called fortune tellers which is a fraud. We can only predict with logic and I feel both will exist.

AntonSWX

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Quote from: istiak2277 on February 27, 2022, 03:11:39 PM

Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

Competition occurred when two same type of things conflict with each other for superiority. Bitcoin and Fiat has two totally different infrastructure and system of processing. We can do comparison between them about their use case and convenient way of using. Let the people decide which one to chose. Most popular one will survive at the end and others will perish.

Most people do think that there should be one that will be existing but come to think that we do need fiat as well and now on bitcoins existence then we do at least have the option to choose.They do hit up

different markets which one do loves decentralized and the ones who do love centralized.Also, people doesnt really mind off about utility but rather thinking or minding about its investment benefits

which is something that people been thinking off mainly when dealing with crypto market.

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Quote from: Oilacris on February 26, 2022, 05:28:12 PM

Quote from: Silberman on February 24, 2022, 02:54:49 PM

Quote from: timerland on February 21, 2022, 05:21:37 PM

Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

It's simply not the same market that BTC and CBDCs are in.

CBDCs are a digital extension of fiat that was bound to happen as a matter of time. BTC is decentralized and secure, and cannot be tampered with by any central governments.

Essentially they are precisely the two ends of the spectrum when it comes to decentralization. One gives the government more power and traceability, the other doesn't. People who desire decentralization will obviously still opt for BTC.

Correct, however this is a Trojan horse, governments are seeing that there is a tendency to adopt decentralized cryptocurrencies that they cannot stop and that if anything they have helped to create, they want to stop this but they are unable so what it is the best they can do? To create their own currencies that look like decentralized ones but that are under their complete control and try to deceive people to adopt them, and while many people will see what it is behind many people will fail to do so.

Government does really love on deceiving people specially when they are seeing some threats which could totally oppose on what they do really prefer which we know that they dont really like crypto

in the first place plus on having that decentralized factor which do really makes even more been hated which it isnt surprising that much.They couldnt able to control nor get rid of it technically but

they could able to stir up or making involvement via those platforms or services which do attached with fiat which its unavoidable for us to make use.

That is what they are hoping, they think that we are going to be shortsighted enough to not see what they are doing, however every single one of us that knows what it is their end game, there are many other people that will believe them and that will use those coins thinking they are using something even better than bitcoin, however this is a mistake, and those people are going to find out this is the case when we begin to see more signs of the fiat system collapsing.

istiak2277

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Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

Competition occurred when two same type of things conflict with each other for superiority. Bitcoin and Fiat has two totally different infrastructure and system of processing. We can do comparison between them about their use case and convenient way of using. Let the people decide which one to chose. Most popular one will survive at the end and others will perish.

wxa7115

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Quote from: Finestream on February 24, 2022, 03:40:19 PM

Quote from: dezoel on February 24, 2022, 12:11:54 PM

Most CBDCs are not going to be using blockchain, so far the ones I know of are not making use of blockchain. The CBDC that we are all talking about are still the same fiat, but in a digital form. They have no connection with Bitcoin, so there is no way that these digital currencies are going to have any effect on Bitcoin.

Like you said, Bitcoin is decentralized and those who wants to make use of decentralized money will continue to make use of Bitcoin, while those that have chosen to make use of fiat will continue with that. It’s a matter of choice, none is stopping the other. Except, maybe Bitcoin is banned in your country. But even if it’s banned in your country, you can still make use of it.

CBDCs are clearly not supporting bitcoin because its purpose definitely in line with fiat but CBDCs are also known to reduce the risks from using digital currencies in their form. But, they are not into promoting bitcoin and cryptocurrencies.

Bitcoin will always chose to be decentralized, while fiat will remain centralized. This is the reason why bitcoin could be a good alternative to fiat so that people who will love to use bitcoin can use it freely while fiat supporters will continue using it. But for those who want to use them both, they will have the freedom to use them for how long they want.

Those coins are nothing more but the response of governments against bitcoin, they are realizing that stopping something like bitcoin is simply impossible, so they are going to do their next move which is to try to deceive people back into fiat currencies once again.

By doing this they are hoping to slow down the adoption of bitcoin by claiming that their coins are better and that they are more secure, unfortunately a great deal of people are going to fall into that trap and are going to believe the governments and they will keep using those coins despite the huge disadvantages that they bring to them, but at the end those coins are going to fail on the purpose of luring people like us to those coins.

Zanab247

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Bitcoin will remain decentralized exchange which is good for long term and short term investment in the community. Despite many countries are creating their own digital currency,that is making citizens to talk that centralized currency will overcome the decentralized currency in terms of profits making in the market.
Government cannot control decentralized currency terms of pumping and dumping because they have no power over decentralized currency like the way they have power over fiat money by increasing and decreasing of Centralized currency in the country.

Oilacris

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Quote from: Silberman on February 24, 2022, 02:54:49 PM

Quote from: timerland on February 21, 2022, 05:21:37 PM

Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

It's simply not the same market that BTC and CBDCs are in.

CBDCs are a digital extension of fiat that was bound to happen as a matter of time. BTC is decentralized and secure, and cannot be tampered with by any central governments.

Essentially they are precisely the two ends of the spectrum when it comes to decentralization. One gives the government more power and traceability, the other doesn't. People who desire decentralization will obviously still opt for BTC.

Correct, however this is a Trojan horse, governments are seeing that there is a tendency to adopt decentralized cryptocurrencies that they cannot stop and that if anything they have helped to create, they want to stop this but they are unable so what it is the best they can do? To create their own currencies that look like decentralized ones but that are under their complete control and try to deceive people to adopt them, and while many people will see what it is behind many people will fail to do so.

Government does really love on deceiving people specially when they are seeing some threats which could totally oppose on what they do really prefer which we know that they dont really like crypto

in the first place plus on having that decentralized factor which do really makes even more been hated which it isnt surprising that much.They couldnt able to control nor get rid of it technically but

they could able to stir up or making involvement via those platforms or services which do attached with fiat which its unavoidable for us to make use.

andriarto

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Quote from: so98nn on February 24, 2022, 10:45:24 AM

Quote from: Anguwa on February 22, 2022, 12:57:34 PM

I don't believe the comparison between Bitcoin and Fiat should be continued because Bitcoin is fully decentralized; it was created to give us proper control over our entire wealth in order to avoid any third parties while spending our wealth, whereas fiat is always centralized, and I can refer to fiat as CBDCs because all transactions are monitored by governments.

How it can’t be compared? It’s literally intermittently connected with each other, whether it’s fiat or bitcoin they will have correlation of unit measurement. We can value bitcoin or understand the bitcoin valuation by fiat measures only. Moreover, though crypto currencies are decentralised that’s just related to its salient features. Without fiat you can not buy crypto currency’s neither you can trade it with others. We know very well we can not understand one bitcoin equals one bitcoin math right now. We have to value different products and services in fiat unit only. So that’s it, they are connected and have to compared for the sake of measuring.

of them there is a correlation measurement. we can say bitcoin is free from inflation, because we see inflation that occurs in fiat every year, it can be closed with a bitcoin value that far exceeds the inflation rate in fiat. both have only the difference in the decentralized system and the centralized system which the government can control. the rest of them both are the same as a unit of currency

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Quote from: dezoel on February 24, 2022, 12:11:54 PM

Most CBDCs are not going to be using blockchain, so far the ones I know of are not making use of blockchain. The CBDC that we are all talking about are still the same fiat, but in a digital form. They have no connection with Bitcoin, so there is no way that these digital currencies are going to have any effect on Bitcoin.

Like you said, Bitcoin is decentralized and those who wants to make use of decentralized money will continue to make use of Bitcoin, while those that have chosen to make use of fiat will continue with that. It’s a matter of choice, none is stopping the other. Except, maybe Bitcoin is banned in your country. But even if it’s banned in your country, you can still make use of it.

CBDCs are clearly not supporting bitcoin because its purpose definitely in line with fiat but CBDCs are also known to reduce the risks from using digital currencies in their form. But, they are not into promoting bitcoin and cryptocurrencies.

Bitcoin will always chose to be decentralized, while fiat will remain centralized. This is the reason why bitcoin could be a good alternative to fiat so that people who will love to use bitcoin can use it freely while fiat supporters will continue using it. But for those who want to use them both, they will have the freedom to use them for how long they want.

Silberman

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Quote from: timerland on February 21, 2022, 05:21:37 PM

Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

It's simply not the same market that BTC and CBDCs are in.

CBDCs are a digital extension of fiat that was bound to happen as a matter of time. BTC is decentralized and secure, and cannot be tampered with by any central governments.

Essentially they are precisely the two ends of the spectrum when it comes to decentralization. One gives the government more power and traceability, the other doesn't. People who desire decentralization will obviously still opt for BTC.

Correct, however this is a Trojan horse, governments are seeing that there is a tendency to adopt decentralized cryptocurrencies that they cannot stop and that if anything they have helped to create, they want to stop this but they are unable so what it is the best they can do? To create their own currencies that look like decentralized ones but that are under their complete control and try to deceive people to adopt them, and while many people will see what it is behind many people will fail to do so.

dezoel

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Most CBDCs are not going to be using blockchain, so far the ones I know of are not making use of blockchain. The CBDC that we are all talking about are still the same fiat, but in a digital form. They have no connection with Bitcoin, so there is no way that these digital currencies are going to have any effect on Bitcoin.

Like you said, Bitcoin is decentralized and those who wants to make use of decentralized money will continue to make use of Bitcoin, while those that have chosen to make use of fiat will continue with that. It’s a matter of choice, none is stopping the other. Except, maybe Bitcoin is banned in your country. But even if it’s banned in your country, you can still make use of it.

so98nn

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Quote from: Anguwa on February 22, 2022, 12:57:34 PM

I don't believe the comparison between Bitcoin and Fiat should be continued because Bitcoin is fully decentralized; it was created to give us proper control over our entire wealth in order to avoid any third parties while spending our wealth, whereas fiat is always centralized, and I can refer to fiat as CBDCs because all transactions are monitored by governments.

How it can’t be compared? It’s literally intermittently connected with each other, whether it’s fiat or bitcoin they will have correlation of unit measurement. We can value bitcoin or understand the bitcoin valuation by fiat measures only. Moreover, though crypto currencies are decentralised that’s just related to its salient features. Without fiat you can not buy crypto currency’s neither you can trade it with others. We know very well we can not understand one bitcoin equals one bitcoin math right now. We have to value different products and services in fiat unit only. So that’s it, they are connected and have to compared for the sake of measuring.

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Quote from: perfect999 on February 23, 2022, 06:51:30 AM

Quote from: Tellek Garing on February 22, 2022, 11:23:20 AM

I view Bitcoin to be the decentralized alternative to Fiat money as the financial system work as a chain, the CBDC will only be able to flow in the same chain when the centralized digital currency transaction can be verified through the blockchain. I quite agree with the views of others on this subject matter that Bitcoin and fiat shouldn't be compared since they both perform in different model.

True, both performs differently. The government won’t be able to stop Bitcoin, same way that bitcoin won’t be replacing fiat, they are both on a different route, and none is there to replace the other. We all make use of both, and so far I haven’t seen the reason why I would want Bitcoin to replace fiat or fiat stopping Bitcoin, because they are useful to me.

Bitcoin serves many purpose for me, it can serve as an asset for investment, or I can use for some transactions, also the same thing with fiat. And I am not the type that holds my money just in one place, I make use of different assets.

the difference between the two is contradictory to the basis of each. if you look realistically what is happening right now, bitcoin cannot replace fiat, because there will be many obstacles to be faced, even though it has several advantages compared to fiat. but along with technological developments later we don't know what will happen, because after all the government is the most important part for a change

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Quote from: Tellek Garing on February 22, 2022, 11:23:20 AM

I view Bitcoin to be the decentralized alternative to Fiat money as the financial system work as a chain, the CBDC will only be able to flow in the same chain when the centralized digital currency transaction can be verified through the blockchain. I quite agree with the views of others on this subject matter that Bitcoin and fiat shouldn't be compared since they both perform in different model.

True, both performs differently. The government won’t be able to stop Bitcoin, same way that bitcoin won’t be replacing fiat, they are both on a different route, and none is there to replace the other. We all make use of both, and so far I haven’t seen the reason why I would want Bitcoin to replace fiat or fiat stopping Bitcoin, because they are useful to me.

Bitcoin serves many purpose for me, it can serve as an asset for investment, or I can use for some transactions, also the same thing with fiat. And I am not the type that holds my money just in one place, I make use of different assets.

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Quote from: Tellek Garing on February 22, 2022, 11:23:20 AM

I view Bitcoin to be the decentralized alternative to Fiat money as the financial system work as a chain, the CBDC will only be able to flow in the same chain when the centralized digital currency transaction can be verified through the blockchain. I quite agree with the views of others on this subject matter that Bitcoin and fiat shouldn't be compared since they both perform in different model.

Because indeed when we compare something at least there must be a comparison and something equivalent that can be compared, In the context of bitcoin and fiat I don't think there is anything that can be compared there because these are very different things.
Even if they are indeed one of the things touted on the blockchain (Bitcoin by its fans and CBDC by the government) But still this is not comparable.
It would just be tiring to compare this without having any conclusions and results

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I don't believe the comparison between Bitcoin and Fiat should be continued because Bitcoin is fully decentralized; it was created to give us proper control over our entire wealth in order to avoid any third parties while spending our wealth, whereas fiat is always centralized, and I can refer to fiat as CBDCs because all transactions are monitored by governments.

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I view Bitcoin to be the decentralized alternative to Fiat money as the financial system work as a chain, the CBDC will only be able to flow in the same chain when the centralized digital currency transaction can be verified through the blockchain. I quite agree with the views of others on this subject matter that Bitcoin and fiat shouldn't be compared since they both perform in different model.

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Quote from: timerland on February 21, 2022, 05:21:37 PM

Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

It's simply not the same market that BTC and CBDCs are in.

CBDCs are a digital extension of fiat that was bound to happen as a matter of time. BTC is decentralized and secure, and cannot be tampered with by any central governments.

Essentially they are precisely the two ends of the spectrum when it comes to decentralization. One gives the government more power and traceability, the other doesn't. People who desire decentralization will obviously still opt for BTC.

People always want to have control over their finance. This is impossible with the CBDC as it'll be controlled by the government. As in the quote the two extreme ends mark the bitcoin and the CBDC. Even if more CBDC come to usage it is impossible to diminish the market of bitcoin. More countries are in study about the CBDC, possibly by 2030 most of the countries will have their own CBDC. Meanwhile the time period of ten years will make a big change in the cryptospace through adoption and increased acceptance on real life.

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Quote from: BitKongy on February 07, 2022, 07:35:20 AM

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

It's simply not the same market that BTC and CBDCs are in.

CBDCs are a digital extension of fiat that was bound to happen as a matter of time. BTC is decentralized and secure, and cannot be tampered with by any central governments.

Essentially they are precisely the two ends of the spectrum when it comes to decentralization. One gives the government more power and traceability, the other doesn't. People who desire decentralization will obviously still opt for BTC.

Topic: Just my own thoughts (Read 683 times)