Simple reason why crypto is preferred over fiats - page 2.

Ultegra134

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Quote from: LUCKMCFLY on November 02, 2021, 10:06:36 PM

Quote from: Issa56 on November 02, 2021, 11:39:38 AM

The main reason why I really prefer cryptocurrency is that money can be transferred from one part of the country to another part easily without the use of third-party, currently in some countries now if you are trying to make international transactions its always discouraged due to country policie but with the help of bitcoin and cryptocurrency in general transactions can now be made internationally with less stress and less transaction fees compare to fiat.

I support you in that motion, money that they had to pay me from Canada, they sent it through Bancolombia, and from Canada there was no problem, the problem occurred in Colombia because they called the account holder, they began to ask him about what reason they sent the money, that the direct transfer option was not activated, what are the origins of that money, the truth is that it was done at that time that the same bank returned the transfer to Canada, it took 15 days in that unsuccessful process.

When the money arrived at the Bank in Canada, the person sent it through BTC and it was immediate, then from there it was much faster to take it to fiat, obviously in Venezuela people do not know much about BTC, but when Zelle falls or eliminates , I think that BTC transaction volumes will increase remarkably.

Well, that's a controversial issue, I've seen some services promising such kind of international transfers/services, but not sure how well they perform. In such instances, cryptocurrencies are probably the ideal way of transferring money, fast and most of all, anonymously, providing that both ends know how they work and how you can cash it out.

bengsabeng

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Quote from: chrisculanag on October 31, 2021, 04:08:11 PM

For me Bitcoin is most prefered to investing because the volatility of this , so they can profit more. But in other ways fiat is also preferred in real world. Saving Bitcoin can sure you more profit than saving fiat but if you want cash you sell the little save in Bitcoin to get fiat. Means this two is important to us ,this is my opinion its either you want or not ,that is ok.

Fiat money and bitcoin have different functions and roles, and of course both also have their own advantages and disadvantages. when it comes to earning or investing of course bitcoin is superior because the value of bitcoin can grow quickly, but when it comes to fiat money payment instruments are clearly superior because the highly volatile value of bitcoin makes bitcoin unqualified to be a means of payment.

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Quote from: Pamadar on November 01, 2021, 11:51:21 AM

It's been realized that both will continue to exist no matter what. Crypto now is more on investment is most of those supporters use this venue to earn from trading and not really focus on the currency usages.

Those past believes that Crypto may replace fiat is not being talked for quite a while, instead, fiat versions or alternative inside crpyto
market to represent fiat usages.

We need to accept things if there're adjustments to undergo but at the end of the day, as investors/traders, we always value the potentials.

You can't take down an established monetary system backed by powerful entities (mainly banks and governments). Fiat will always exist because it's endorsed by the government. Crypto, on the other hand, could disappear if people stop supporting it. It may be decentralized, but it's not "invincible". Bitcoin has done well since its inception, so it'll probably live alongside Fiat for many years. The same cannot be said about other cryptocurrencies, since their blockchain networks are smaller than Bitcoin's. People will ultimately decide which type of currency (crypto or Fiat) to use from the other. What matters is financial freedom. As long as people are able to achieve this, nothing else matters. Just my opinion

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Quote from: Alert31 on November 01, 2021, 08:14:31 AM

You know why I prefer crypto over fiat, simply because I earned a lot in crypto rather than working eight hours a day with a very small minimum salary. Although we still need fiat, Crypto is now my best source of financial help for my family’s needs. Hassle free and you're the only one responsible for your assets.

That is the best reason you can give, in fact in a country with high inflation if investing in cryptocurrencies is a very safe way to earn, even if it is invested and the currency falls, when changing to local currency the person is earning more money still, this is one of the consequences that high inflation or hyperinflation can generate.

Of course this is in countries with problems of this style, everything must change if it is taken into account in a country with a much more stable economy where there are no inflation rates, cryptocurrency investment is usually somewhat more dangerous, but nevertheless to Despite this danger, I think it is very important to take that risk, since it will give more profitability than putting the money in a bank.

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Here are some of the reasons why crypto is preferred over fiat:
(1) Decentralized currency: many crypto users preferred crypto currency because is not control by the government. It pump and dump without the approval of the government in the country.
(2) Economy improvement: crypto currency has helped many countries that made it legalized in their community to improve their economy that covid-19 virus has collapsed few years ago in the country.
(3) Educated : Many crypto users are educated people and they have all the requirements to make some reasonable income from cryptocurrency .
(4) Easy to spend : crypto is very easy to spend in the market compare to fiat that is only accepted within the country.

LUCKMCFLY

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Quote from: Issa56 on November 02, 2021, 11:39:38 AM

The main reason why I really prefer cryptocurrency is that money can be transferred from one part of the country to another part easily without the use of third-party, currently in some countries now if you are trying to make international transactions its always discouraged due to country policie but with the help of bitcoin and cryptocurrency in general transactions can now be made internationally with less stress and less transaction fees compare to fiat.

I support you in that motion, money that they had to pay me from Canada, they sent it through Bancolombia, and from Canada there was no problem, the problem occurred in Colombia because they called the account holder, they began to ask him about what reason they sent the money, that the direct transfer option was not activated, what are the origins of that money, the truth is that it was done at that time that the same bank returned the transfer to Canada, it took 15 days in that unsuccessful process.

When the money arrived at the Bank in Canada, the person sent it through BTC and it was immediate, then from there it was much faster to take it to fiat, obviously in Venezuela people do not know much about BTC, but when Zelle falls or eliminates , I think that BTC transaction volumes will increase remarkably.

Bollexz1

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So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.

The truth of the matter is that even though everyone understand crypto and its features, still not the whole percentage of people would be willing to invest into it.. The whole percentage of people can never go in one direction.

Issa56

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The main reason why I really prefer cryptocurrency is that money can be transferred from one part of the country to another part easily without the use of third-party, currently in some countries now if you are trying to make international transactions its always discouraged due to country policie but with the help of bitcoin and cryptocurrency in general transactions can now be made internationally with less stress and less transaction fees compare to fiat.

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Quote from: blockman on October 31, 2021, 10:03:46 PM

It won't stop in existence because even with the digital experience and upgrade, there will be an adoption that would still come to fiat and they'll be making digital fiat which has been also there. Well, crypto has been assumed that it will replace fiat before and even until now.
Many of us have believed that it will be like that until we've come to the understanding that the market is becoming different and has a different path of being an asset.

It's been realized that both will continue to exist no matter what. Crypto now is more on investment is most of those supporters use this venue to earn from trading and not really focus on the currency usages.

Those past believes that Crypto may replace fiat is not being talked for quite a while, instead, fiat versions or alternative inside crpyto
market to represent fiat usages.

We need to accept things if there're adjustments to undergo but at the end of the day, as investors/traders, we always value the potentials.

Alert31

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You know why I prefer crypto over fiat, simply because I earned a lot in crypto rather than working eight hours a day with a very small minimum salary. Although we still need fiat, Crypto is now my best source of financial help for my family’s needs. Hassle free and you're the only one responsible for your assets.

sgenuine

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The main advantage of crypto over fiat is that crypto is completely uncontrolled. There are centralised platforms such as CEXes that have a head, but you don't have to interact with them as there are alternatives such as DEXes and so on. So we are completely free to run any transactions we want, to send any sums of money to anybody we want and it is really valuable.

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Quote from: Hamphser on October 31, 2021, 07:10:49 PM

Quote from: blockman on October 31, 2021, 05:35:12 PM

Fiat is always going to be preferred by most because it's the traditional money that we've been living with. Unless there's a bigger mass that has been into cryptocurrencies as a medium of exchange but to this date, it's more of a valuable asset than money for payments.
We do need cash and that will stay as long as the government that we're living in doesn't prefer crypto to flourish as a means of payment or they could do that but just as the secondary payment method.

Really hard to believe on that fiat would cease to exist or simply be replaced with crypto because even though how much we do hate centralization but still we do much prefer

on using up fiat no matter what and of course it does have those things which cant be found on crypto but somewhat you could really tell the big differences between the

two and i dont know on why people are really fan of presuming out things that it could be replaced which is eventually a very impossible thing to happen.

It won't stop in existence because even with the digital experience and upgrade, there will be an adoption that would still come to fiat and they'll be making digital fiat which has been also there. Well, crypto has been assumed that it will replace fiat before and even until now.
Many of us have believed that it will be like that until we've come to the understanding that the market is becoming different and has a different path of being an asset.

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Quote from: blockman on October 31, 2021, 05:35:12 PM

Quote from: chrisculanag on October 31, 2021, 04:08:11 PM

For me Bitcoin is most prefered to investing because the volatility of this , so they can profit more. But in other ways fiat is also preferred in real world. Saving Bitcoin can sure you more profit than saving fiat but if you want cash you sell the little save in Bitcoin to get fiat. Means this two is important to us ,this is my opinion its either you want or not ,that is ok.

Fiat is always going to be preferred by most because it's the traditional money that we've been living with. Unless there's a bigger mass that has been into cryptocurrencies as a medium of exchange but to this date, it's more of a valuable asset than money for payments.
We do need cash and that will stay as long as the government that we're living in doesn't prefer crypto to flourish as a means of payment or they could do that but just as the secondary payment method.

Really hard to believe on that fiat would cease to exist or simply be replaced with crypto because even though how much we do hate centralization but still we do much prefer

on using up fiat no matter what and of course it does have those things which cant be found on crypto but somewhat you could really tell the big differences between the

two and i dont know on why people are really fan of presuming out things that it could be replaced which is eventually a very impossible thing to happen.

shield132

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In what way is crypto preferred over fiats? In real life, people prefer Fiat over cryptocurrencies.

Quote from: Alisha-k on October 13, 2021, 10:30:28 PM

Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it

In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all

So stealing with Cryptos is almost not possible

And again, Cryptos rise/fall every second, but the chances of rising is higher

That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges

So, it's almost impossible for crypto users to steal and hide their identity? Haha, so hilarious, because this is the reason why crypto is blamed. The thing that you talk above is Elite corruption, in crypto, word elite doesn't exist.

Chances of rising is higher in crypto, I have never seen USD gaining value, it only loses as time goes but the chance of losses is very high too. And you know what, this is very unpredictable and when you need money in everyday life, you can't rely on that. If the invested amount of money is somthing that you can afford to lose and just ignore that, then sure why not to risk?

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Quote from: chrisculanag on October 31, 2021, 04:08:11 PM

For me Bitcoin is most prefered to investing because the volatility of this , so they can profit more. But in other ways fiat is also preferred in real world. Saving Bitcoin can sure you more profit than saving fiat but if you want cash you sell the little save in Bitcoin to get fiat. Means this two is important to us ,this is my opinion its either you want or not ,that is ok.

Fiat is always going to be preferred by most because it's the traditional money that we've been living with. Unless there's a bigger mass that has been into cryptocurrencies as a medium of exchange but to this date, it's more of a valuable asset than money for payments.
We do need cash and that will stay as long as the government that we're living in doesn't prefer crypto to flourish as a means of payment or they could do that but just as the secondary payment method.

D-law

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This two are important although,the rate at which bitcoin is been used lately is tremendous....no wonder government places banned on all of this at some of the countries growing.
Although bitcoin is fast and it's volatility rate,also bitcoin seems to be a great asset in the future.
Fiat is a major means of exchanging valuables,but humans are okay with the rate at which there money is not been controlled by bitcoin.

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Quote from: jostorres on October 30, 2021, 05:58:11 PM

Quote from: el kaka22 on October 30, 2021, 05:32:36 AM

The ones that banned it are mainly places that have harsh rulership. If you want to rule over a nation without giving them any freedom to get rid of you, then you will also need to ban them to use decentralized projects that take power away from you and give it to people.

As long as there is decentralization in crypto and fiat is centralized, there is really no discussion about which one is better for us. It is obvious that Crypto will always be better and inherently so.

Definitely there are some crypto which is centralized, like bnb or xrp or bch or whatever but at the end of the day there are decentralized ones as well so you could always focus on that. I believe that the power that people have with crypto can never be matched by fiat. So, obviously people will prefer to have power than just being to be relying on others for financial needs and purposes.

Yeah, fiat NEEDS to have centralization, otherwise what's the point of it? Governments needs to have some power over it so that they could control it and if they can't control it then it would draw any nation to chaos. So that means, if you look at the data in hand, there is absolutely no way that we could end up with fiat being better than crypto no matter what happens with fiat, only if crypto becomes more centralized (even personally I am not seeing that is possible but when Elon Musk kind of billionaire tries to take control of one coin then I am afraid about its possibilities).

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For me Bitcoin is most prefered to investing because the volatility of this , so they can profit more. But in other ways fiat is also preferred in real world. Saving Bitcoin can sure you more profit than saving fiat but if you want cash you sell the little save in Bitcoin to get fiat. Means this two is important to us ,this is my opinion its either you want or not ,that is ok.

Ultegra134

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I don't prefer cryptocurrencies in the way you're mentioning, the exact opposite thing can also occur, I don't get why people only expect its price to rise. The reason I prefer cryptocurrency is because it enables me to earn, invest and save money without having to declare them as an income. This way, I've got something similar to a savings account, in ny computer, and no one knows about it.

LUCKMCFLY

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Quote from: Rufsilf on October 25, 2021, 05:37:06 AM

Quote from: Alisha-k on October 13, 2021, 10:30:28 PM

That's because no single person or group of persons is or are in control of Cryptos, it's called Blockchain technology

It's a decentralised system meaning money sent or received from or to an account can be seen or monitored by everyone or anyone who wishes to

Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it

In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all

So stealing with Cryptos is almost not possible

And again, Cryptos rise/fall every second, but the chances of rising is higher

That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges

So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.

There are still people who will always use and prefer fiats OP, people that are into crypto usually is to invest and save because in reality bank is just there to store your money and have word "savings" but in reality you didn't save any because you pay them to store and secure you fiats.

And bitcoins can be stolen too, not in the system. It can be stolen to those bitcoin owner who failed to secure their funds.

You are right, for now there are still people who prefer FIAT to cryptocurrencies, perhaps the reasons are pro ignorance, some because they do not agree with volatility, others say that it is too risky an investment, in countries with high inflation the BTC is the ideal way out, since they are always protected against all inflation and as their local currency falls due to inflation, the BTC raises the value, that is, in a country with economic differences and high inflation, the BTC is the best way of constant savings no matter what happens in the world, this is one of the things that can be taken advantage of the most from BTC, and this has made the improvement of many particular economies.

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