Topic: Simple reason why crypto is preferred over fiats - page 3. (Read 915 times)
Blockchain and bitcoin both cannot give us complete decentralised experience because blockchains are open ledgers, transparent except for coins like monero and bitcoin transactions are transparent, making it pseudonymous till we take every possible step to remain anonymous. However, you said true that btc's value does not remain stable and that is the innovative part because the value of our money increases if it is invested in cryptocurrencies, but fiat remains the same and after charges, it only reduces. But we 'invest' in crypto because cryptocurrencies are like stocks and not currencies, so comparison is not possible.
The best advantage of crypto for me is that the transaction fees are cheap, practical and fast because it is digital based and also does not involve the government and is completely self-controlled.
and besides that crypto also has its own freedom because it does not have access or is affiliated with bank and this benefits the owner because we can transact with crypto anytime and anywhere without having to wait like bank hours when transacting, and many other reasons that I think crypto is far away better than fiat and the two exist to complement and not eliminate each other.
and besides that crypto also has its own freedom because it does not have access or is affiliated with bank and this benefits the owner because we can transact with crypto anytime and anywhere without having to wait like bank hours when transacting, and many other reasons that I think crypto is far away better than fiat and the two exist to complement and not eliminate each other.
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.
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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.
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.
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.
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.
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.
Although bitcoin also has advantages over fiat, there are disadvantages too. for bitcoiners, it might totally support bitcoin, but if you look at the reality, I think the role of fiat is very big. I don't think it's easy to replace fiat, but it's not something that is impossible with the development of existing technology. what is clear is that not many governments can accept it
Agreed, the truth is that some countries have banned bitcoin because they lack trust in the technology and do not want to be transparent. However, there are some countries that are interested in it. But I prefer crypto in terms of savings because you can earn money over time and it is difficult to get and spend your money, so it is really good for me in terms of saving because I am a kinda lazy person. However, for spending purposes, fiat is preferable because not all merchants accept cryptocurrency.
Its undeniable that bitcoin is used for some illegal activities before and we can't blame them to act like this since maybe they want to protect their people not to get scam on something they didn't know but one thing is for sure here once bitcoin spread and will always get a good highlight on mainstream media we will see those government who are away before came to check and adopt bitcoin for their economical use.
the truth is that some countries have banned bitcoin because they lack trust in the technology and do not want to be transparent. However, there are some countries that are interested in it. But I prefer crypto in terms of savings because you can earn money over time and it is difficult to get and spend your money, so it is really good for me in terms of saving because I am a kinda lazy person. However, for spending purposes, fiat is preferable because not all merchants accept cryptocurrency.
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.This is the biggest issue with China for example, there is no possible mechanism to dispose of CCP, they are the only one and they will only be fighting to keep that power, there is no possible way to get rid of them and that is why they banned crypto as well, they rather have their people follow their path and not use some decentralized currency that may send money away to another nation so that they may run away with that money. If you end up losing power because of crypto then you are going to be weaker and the results won't be nice for dictators who lose power, hence why they are afraid of crypto a lot.
Crypto runs according to its own power, no one has control here everyone earns money by investing independently there is no intervention of the bank to save money. Many countries are legalizing crypto to increase its popularity but fiat is more prevalent everything can be managed without crypto but crypto can never manage fiat crypto is a good platform for investing.
Although bitcoin also has advantages over fiat, there are disadvantages too. for bitcoiners, it might totally support bitcoin, but if you look at the reality, I think the role of fiat is very big. I don't think it's easy to replace fiat, but it's not something that is impossible with the development of existing technology. what is clear is that not many governments can accept it
Agreed, the truth is that some countries have banned bitcoin because they lack trust in the technology and do not want to be transparent. However, there are some countries that are interested in it. But I prefer crypto in terms of savings because you can earn money over time and it is difficult to get and spend your money, so it is really good for me in terms of saving because I am a kinda lazy person. However, for spending purposes, fiat is preferable because not all merchants accept cryptocurrency.
Although bitcoin also has advantages over fiat, there are disadvantages too. for bitcoiners, it might totally support bitcoin, but if you look at the reality, I think the role of fiat is very big. I don't think it's easy to replace fiat, but it's not something that is impossible with the development of existing technology. what is clear is that not many governments can accept it
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.
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 all sorts of reasons that people prefer cryptocurrency but I don't think you should claim there is only one. The vast majority of the world, probably more than 99% of people are still conducting their daily business with fiat currency and will continue to do so for a long time to come. Crypto does have certain advantages, like being accessible across borders much more easily, but it also has certain drawbacks (depending on how you look at it) such as irreversible transactions which means thieves can get away with crimes easier than in the current banking system. You're price fluctuation/fees comparison is a very poor example, because Bitcoin can go down in value much quicker and many banks would not have any charge as you suggest.
You don't get this with Fiat nowadays. While rewards on crypto are good, the risk of loss is certainly a lot higher than it's the case with Fiat.
Its still much better to hold crypto in long term rather than holding fiat. Look at crypto's return for the last 8-10 years and compare that to fiat's inflation rate. That would give you better insight on crypto return rather than comparing it to the short term roller coaster. Yeah we had massive drop from 18k to 8k or something in 2018 but overall its still much better to hold portion of crypto rather than fiat
crypto is a very good potential but on the other hand here is risky and not as easy as one might think.
you have to be really patient to get something the best.
You don't get this with Fiat nowadays. While rewards on crypto are good, the risk of loss is certainly a lot higher than it's the case with Fiat.
Its still much better to hold crypto in long term rather than holding fiat. Look at crypto's return for the last 8-10 years and compare that to fiat's inflation rate. That would give you better insight on crypto return rather than comparing it to the short term roller coaster. Yeah we had massive drop from 18k to 8k or something in 2018 but overall its still much better to hold portion of crypto rather than fiat
Yes, in general sense then crypto would really be worth compared to fiat but of course it would have corresponding risk because we cant be sure if a particular coin that we're holding is really making out some potential movement or increase in the future.
So its a matter of choice and risk taking.
You don't get this with Fiat nowadays. While rewards on crypto are good, the risk of loss is certainly a lot higher than it's the case with Fiat.
Its still much better to hold crypto in long term rather than holding fiat. Look at crypto's return for the last 8-10 years and compare that to fiat's inflation rate. That would give you better insight on crypto return rather than comparing it to the short term roller coaster. Yeah we had massive drop from 18k to 8k or something in 2018 but overall its still much better to hold portion of crypto rather than fiat
Some people prefer cryptocurrencies over fiat because of its completely different nature. Cryptocurrencies give people a freedom to use these currencies like they are their own bank. There is no person that you have to deal with while making any kind of transactions. You have the complete control and this is really attracting for me and most of the people I guess.
Not only with the transactions efficacy but as well the potential to earn a lot of money of it that's why many goes with crypto rather than fiat since if you only hold fiat you will just get hit by inflation and you cannot earn with it but if you hold crypto the possibility that your money will grow is there but make sure also that you choose the best crypto and also you know on what you are doing since even if how good the crypto is there's loophole on it or downside which can cause us money loss if we are not paying attention on what we are doing in crypto world.
That's certainly true, mate. Most people are into crypto simply to make a lot of money. After all, some cryptocurrencies are deflationary by design. This means greater scarcity and demand over time. You don't get this with Fiat nowadays. While rewards on crypto are good, the risk of loss is certainly a lot higher than it's the case with Fiat. That's largely because crypto has unstable prices that could either leave you rich or poor in an instant. Depending on your needs, will be the type of currency to use. I wouldn't be surprised if more people use crypto on top of Fiat as inflation continues to sink the global economy. Just my opinion
The easy reason is that with crypto, all transactions can be easier to do, this is different from the bank system which requires the approval of the bank even though what we take or send is our own money, with crypto, full control of our money can be effective.
don't forget the important point, namely the profit obtained is greater than fiat 
because the potential here is very large to make a profit, although it does require patience because nothing is instant and requires a process but crypto is a field to get income for me.
and this is a blessing for me because I can get to know the crypto world even though there are still a lot of pros and cons about this, especially in my country but as long as it exists and has not been banned I will still be on this path.
I like Crypto more than Fiat because I can send money to all my friends despite their country! Nowadays it's easy for me to buy a product from abroad and pay with crypto using crypto payment gateways or pay crypto directly to my friend who will be helping me to purchase the product I need. Also, I like to use USDT-TRC20 to make all my crypto payments through Gate exchange becuase they charge 0 in transactions, but in my country, I would pay more than $10 fees when I bought a product online and pay via bank.
The easy reason is that with crypto, all transactions can be easier to do, this is different from the bank system which requires the approval of the bank even though what we take or send is our own money, with crypto, full control of our money can be effective.
Not only with the transactions efficacy but as well the potential to earn a lot of money of it that's why many goes with crypto rather than fiat since if you only hold fiat you will just get hit by inflation and you cannot earn with it but if you hold crypto the possibility that your money will grow is there but make sure also that you choose the best crypto and also you know on what you are doing since even if how good the crypto is there's loophole on it or downside which can cause us money loss if we are not paying attention on what we are doing in crypto world.
It's need to have a good understanding though, it's not easy as how many think about it, a wrong interpretation that this venue
is easy access to attain richness. You have to understand that the concept of trading is part of your investment, not an assurance
but more on your good knowledge and skills.
Not just by holding that you will earn, unless you will buy and save your Bitcoin for your retirement, the chance to grow is very possible
to happen.
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