only having this advantage, I think we need to pay attention to bitcoin. what do you think? is that enough reason? I think so.
Topic: Why Bitcoin is better than banknotes - page 14. (Read 1541 times)
bitcoin has no understanding of inflation! in many countries, print out as much money as they need! not even paying for your gold reserves! bitcoin is very popular in Africa! because there is the only way to save your money!
If we are just looking at this angle then we can tell that bitcoin is really better than banknotes but if we look at accessibility such as the remote areas without electricity and internet access on remote areas in the third world countries then we can say that banknotes is better than bitcoin. But both the banknotes and bitcoin have its own uniqueness, advantage and disadvantages thus its good to have both.
Very good explanation mate both are useful depends on the istuation and the area or localtion, like herein in my country they many remote provinces didn't electricity how can use bitcoin without internet and electricity ut i still believe the orogress of the new technology still in progress in the future the remote area become aware about bitcoin use by new the technology.
Because Bitcoin's supply will always remain 21 Million compared to unlimited supply of bank notes.
There are two sides of this. In one way BTC is safer than banknotes because of we don't want to bring money anywhere its in electronic wallets. But other way hackers can hack our wallets between transactiions.
Banknotes can be lost, stolen or whatever, but if you own AML BitCoin you are sure none of this will happen. AML BitCoin´s transaction system employs patented multi-factor authentication for every AML BitCoin transaction.
If we are just looking at this angle then we can tell that bitcoin is really better than banknotes but if we look at accessibility such as the remote areas without electricity and internet access on remote areas in the third world countries then we can say that banknotes is better than bitcoin. But both the banknotes and bitcoin have its own uniqueness, advantage and disadvantages thus its good to have both.
I agree with you.
do not look on the side only, and show the advantages and disadvantages of each of the two parties between bitcoin and paper money.
So far, nothing is better. You will be shocked at the purchase of coffee, knowing that the commission took twice the cost of the coffee itself. And there are many such examples, bitcoin is not yet suitable for everyday financial use.
bit coin is better than bank note for the following reasons;
1 bitcoin is digital while banknotes are not digital
2 bitcoin is generally accepted while banknotes have restriction i mean international restriction because you can not use a foreign currency in another
country.
3 bitcoin is done online while banknotes would need a physical cash transaction
4 with bitcoin you are safe and secure you move about with it in your mobile wallet while banknotes needs physical movement which calls for side
attractions
5 bitcoin is the same value and exchange rate any where in the world if used for transaction but banknotes is not so. you would need to convert it before
doing what ever you want to do.
6 bitcoin transfer is done very fast but banknotes are not so. you would have to go through process which is time consuming
7 transaction with bitcoin is less stressful but with banknotes very stressful.
8 bitcoin has a higher mining rate but banknotes has restriction
9 bitcoin is digital which makes is easily accessable while banknotes is not so you would have to go to the bank for a physical withdrawal
10 bitcoin has a very high profit value while banknotes is just for storage with note profit value
Bitcoins holding is much more valuable than banknotes. Bitcoins can give you a profit on your holdings while banknotes is just for transactions and store of value.
Both things has their characteristics to boost and to compare against each other as well, but if weight them both you can't decided 100% totally in one side since today we still both need them.
TO me the Number 1 reason Bitcoin is better than banknotes is because there is a fixed amount. No more out of control spending by .gov who then uses that to tax/enslave us further. If we had truly free money like Bitcoin things would be much better.
I think both have their own disadvantages and advantages. The excess of Bitcoin has a secure Bitcoin privacy protection and bitcoin can not be controlled by anyone even by the government. While Fiat Money is money based on centralized debt issued by banks and driven by inflationary monetary policy which is managed by the central bank of a state controlled by the government.
Actually I can't see any advantages of paper money over BTC. THe only one that you can possibly think of is the ability to use them without any online device and power source, but I can't really think of a situation where that would be a problem. Everywhere where people are there's power and Internet and if you are in the bush, far from civilization, chances are nobody will be interested in your paper notes.
This is a different kind of money and it is even difficult to compare them with each other. It is impossible in this context to say that it is better - bitcoin or banknotes of national paper money. Each of these types of money has its advantages and disadvantages. However, due to the fact that they are completely different money, they can only walk in parallel with each other.
The infographic shows the 10 most popular banknotes worldwide with its anti-counterfeiting security.
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.
it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.
Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !
It is obvious for me that bitcoin being a digital currency at first place is way more comfortable to use regulate and to provide the service to it, so it is the one extra reason to make bitcoin a worldwide currency. There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.
it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.
Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !
The infographic shows the 10 most popular banknotes worldwide with its anti-counterfeiting security.
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.
it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.
Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.
it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.
Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !
Totally agree. Banknotes have been a problem for society, while with Bitcoin all that ended, now we have the opportunity to be ourselves the owners of our money. Without intermediaries or frauds.
I would not say bitcoin is better than paper money and vice versa.
both have different uses, i rsa bitcoin only one point ahead of the banknote.
bitcoin can be used as a long-term investment tool. it's the advantages that bitcoin has.
both have different uses, i rsa bitcoin only one point ahead of the banknote.
bitcoin can be used as a long-term investment tool. it's the advantages that bitcoin has.
I think both have their own disadvantages and advantages. The excess of Bitcoin has a secure Bitcoin privacy protection and bitcoin can not be controlled by anyone even by the government. While Fiat Money is money based on centralized debt issued by banks and driven by inflationary monetary policy which is managed by the central bank of a state controlled by the government.
probably only msalah security, bitcoin certainly more secure because it can not be stolen.
because bitcoin is not shaped, I think that's the only difference between the two.
because bitcoin is not shaped, I think that's the only difference between the two.
The infographic shows the 10 most popular banknotes worldwide with its anti-counterfeiting security.
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.
it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.
Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.
it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.
Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !
We cannot really compare the power of bitcoin versus fiat currency which is controlled by the government. Hence, bitcoin has many usages, especially in this current internet-based generation. However, it still important to have fiat currency because it is not always that we can help to rely on bitcoin because so far not all people knew it.
Thus, it is still important to identify the reason behind this ever-growing number in use of bitcoin and the analysis of comparing the used of it over the fiat currency (banknotes). But, if we talk about the accessibility and features of bitcoin in terms of accomplishing on the internet based then most probably, it has its advantages over fiat currencies.
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