I think both have their own flaws and advantages.
paper money can be used to shop, meet daily needs, while bitcoin I think is more suitable for investment assets.
Topic: Why Bitcoin is better than banknotes - page 15. (Read 1541 times)
Bitcoin is better than fiat money because besides being a bitcoin currency is also worth the investment that allows bitcoin to have value that can continue to increase.
Becaus there are some reasons why bitcoin or any crypro currency is more better than banknotes because of security and fastest transaction as ever anywhere in the world they can recieve there money in just few second without banks.
Both bitcoin and banknotes are both important in their own ways. But I think in today's time bitcoin is better than the banknotes because firstly in case of bitcoin we get more gains than the
interest that we get from banks. Secondly banknotes involve counterfeit money but this is not so in the case of bitcoin. Other reason is that in bitcoin person himself is the owner but in banknotes government or any third person is the controller. So due to all these points bitcoin is better than the banknotes.
interest that we get from banks. Secondly banknotes involve counterfeit money but this is not so in the case of bitcoin. Other reason is that in bitcoin person himself is the owner but in banknotes government or any third person is the controller. So due to all these points bitcoin is better than the banknotes.
Bitcoin is the first crypto currency started in the year 2009 with strong net work systems which can be operated world wide A bank notes it is valuable in a country only and if the countries financial stability is not good the bank notes value can be depreciated mean time what ever may be the global financial conditions the bitcoins value will not be depreciating and hence it will not be changing.So bitcoin is better than bank notes.
Bitcoin is safer because of the protection of privacy, safe and bitcoin can not be controlled by anyone even by the government. I think that's what makes bitcoin better than banknotes
I think bitcoin is better than paper money because it can not be tampered with. if it is widely used in the daily human payment operations. It can help prevent counterfeit money. Reduce the situation of counterfeit money in the market today
bitcoin can not be forged and better than paper money, but if all countries use bitcoin then world class hackers start acting moreThe 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 !
actually the answer is zero because since I have joined bitcoin, I have heard of bitcoin is counterfeit whereas I have listened to many news about fake
currencies over the world, now this is the main reason why bitcoin should be adapt in all the countries to reduce rate of fake currencies. even in my country the rate at which fake currencies going round is much.
now how we detects those fake currencies is from the market women, because fake currencies is easily detected with water.
The key problem Nakamoto solved was that of double spending, without the need for a 3rd party. You can’t double spend a physical dollar because you can’t duplicate it, but with digital assets, it becomes easier to duplicate and copy. This problem is solved by using a third party to verify the transactions, like a bank or a credit card company. Bitcoin aimed to replicated cash transactions digitally without the use of a 3rd party.
Because it is safer and more reliable than banknotes
Definitely Yes. Bitcoin is better at being money, at being currency, than other currency - because it is technically designed to be better at being currency.
bitcoin money is very profitable to transact between countries because all countries in the world have many who use it without any regulations from the government, and avoid the fake money let alone the robbery .
I will always vote for bitcoin because it is less stressful. Queueing at the bank is something is so stressful and time consuming plus it is time bound. You can only access the banks only during their working hours but bitcoin is not so. For bitcoin, it could be accessed 24 hours in all 7 days in the week. So yes, bitcoin is better than bank notes.
This is a very remarkable point I myself have not considered and yes this is a huge plus for the bitcoin and crypto in general. With the way counterfeiting and fake currencies abound, the capacity of the economy to work right with these notes is difficult and for practicable purposes, dangerous. This would never be the case when crypto is in use.
one of the benefits of bitcoin is not able to be robbed or robbed. so can reduce the crime rate. does not require a safe. can not be physically damaged .
Well, that's why decentralization makes sense in the financial industry. Bitcoin came up with the clever solution of the blockchain to deal with the issues of real-world financial industry and that's the reason why it is gaining momentum day by day. When things are centralised, it is the soft target for criminals to manipulate it and that thing is not possible in the crypto industry because decentralization doesn't allow such loopholes.
I still don't understand why is it legal for central banks to print as much currencies backed by toilet paper and devalue it which only hurts the holders and users of such currency.
Printing Bitcoin is not actually printing you are getting rewarded for your tasks of securing the network.
Can someone explain what central banks have done in order to deserve such power over people.
In my country, we had to swap our currency three times in three decades because of Government/Central bank fuk ups.
Printing Bitcoin is not actually printing you are getting rewarded for your tasks of securing the network.
Can someone explain what central banks have done in order to deserve such power over people.
In my country, we had to swap our currency three times in three decades because of Government/Central bank fuk ups.
The currencies were backed by gold until a few decades ago. Since the currencies are backed by the population debt (thanks to the federal reserve). More money printed more debt. The problem will come when the population wouldn't be able to pay back the debt. In the USA when you born you are already in debt. of $30,000.
Bitcoin is not backed by what we call a Ponzi while describing the current financial system. There is an awesome documentary to watch "Money as debt" one of the best I have seen.
I think bitcoin is better than paper money because it can not be tampered with. if it is widely used in the daily human payment operations. It can help prevent counterfeit money. Reduce the situation of counterfeit money in the market today
bitcoin can not be forged and better than paper money, but if all countries use bitcoin then world class hackers start acting more
it is because the bitcoin is more valuable than paper money, if the paper money in the investment will run out quickly if bitcoin in the investment it will increase, this is the benefit bitcoin .
Bitcoin is better than banknotes because bitcoin value changes day by day and it is profitable for all the users.
Bitcoin is better than Paper money because bitcoin is a digital currency and we can access from everywhere where we get internet facility but paper money can't store in digitally form and counterfeits problems in market also its price is non volatile but bitcoin price is volatile and we can make profit from bitcoins.
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