Topic: Why crypto (bitcoin) is better than traditional money? - page 3. (Read 1439 times)
About my opinion Bitcoin is better than traditional money. Because Bitcoin is digital currency we can buy and sell it anywhere and it give us a profit by trade it. And Tesla company use crypto currency to deal customers it is starting of crypto world and market.
Crypto currency in not controlled by centeral government it's only controlled by owners.It's faster, cheaper and more secure. Cash is controlled by banks while bitcoin has owners and it is easy to conduct transactions across boundaries and online.In traditional money banks involvement in transaction process whereas in crypto currency the users have fully freedom. And the world is shifting to traditional wallets to digital wallets. Crypto have many advantage. Easy to transfer and faster.
true as you said my friend, why bitcoin is more than fiat currency, because bitcoin is not controlled by anyone, only we control our own bitcoin, and bitcoin also has many uses, we can use bitcoin as an asset to benefit in the future , while fiat currency cannot give us any advantage, but fiat currency only gives us comfort..
There are a lot of reason why there are many people saying that crypto is way better than traditional money. One thing is because crypto offers you financial freedom. Unlike crypto, traditional money is centralized which means it is under government's control which makes taxes and extra fees when spending exist. When it comes to crypto, it is obviously way more convenient as it exists on a digital wallet and transactions can even be made without any barrier with the currency you are using cause when it comes to traditional money, sending it to another country would require you to change its currency which will change its value as well.
If you use cryptocurrency for payment, then the cryptocurrency is a currency,
Compared with fiat currency, the characteristics of cryptocurrency:
Compared with fiat currency, the characteristics of cryptocurrency:
- Decentralized, anonymous, no third party
- Cryptocurrency is anti-counterfeit and cannot be faked
- Convenient global transactions, easy to carry
- Convenient for daily shopping (cryptocurrency can also be paid daily)
- Relying on the government to help find the lost money
Crypto currency in not controlled by centeral government it's only controlled by owners.It's faster, cheaper and more secure. Cash is controlled by banks while bitcoin has owners and it is easy to conduct transactions across boundaries and online.In traditional money banks involvement in transaction process whereas in crypto currency the users have fully freedom. And the world is shifting to traditional wallets to digital wallets. Crypto have many advantage. Easy to transfer and faster.
- Cryptocurrency is relatively free and there is no third-party supervision
- Cryptocurrency cannot be faked
- If you keep the keys properly, no one can get your wealth
- Investing in cryptocurrency will have more gains
Decentralization or Centralization I can not mention both as advantages or disadvantages. I prefer these two aspects to be referred to as the nature of currency. We cannot say that Decentralization is better than Centralization or vice versa. Because humans basically have their own preferences as currency users.
The advantages of cryptocurrencies over fiat are as follows
- Limited supply
- Transparent
- Full online
- Low cost
- Unlimited transactions between countries
- And much more
The advantages of cryptocurrencies over fiat are as follows
- Limited supply
- Transparent
- Full online
- Low cost
- Unlimited transactions between countries
- And much more
Crypto has many advantages over Fiat, but price volatility is what "kills" it. If it wasn't by that, crypto would've replaced Fiat already. People who need an "escape route" from the current monetary system will use crypto for their own benefit. Fiat will always dominate the world because it's backed by the government. Expect to see both crypto and Fiat live alongside each other for the foreseeable future. I'm fine with crypto being an alternative to Fiat if it remains decentralized and censorship-resistant. Just my opinion
I know about crypto and everything in general but I am having difficulty to understand one thing about it. Why crypto or bitcoin is better than money ?
I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.
This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?
I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.
This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?
I don't agree that crypto is better than traditional money. Both things have their respective advantages and disadvantages and they are also used for different purposes. Crypto is for investment while traditional money is for daily buying and selling activities. Crypto cant be used for currency since it's fluctuated too much.
I think this is a reasonable comment when it comes to comparing crypto to traditional money although I don't like the term traditional money as that term is dynamic in nature. It changes over time and soon cryptos may be traditional money. But I get the point and I think if you compare fiat to crypto, you should seek out specific aspects you want the two to be compared against each other for. Just saying one is better than the other lacks premises.
In my opinion, BTC compared to traditional money, the cryptocurrency has many features, financial freedom, no one controls, in addition, it can be invested for a long time to generate profits. Traditional money is left to lose value for a long time.
Cryptocurrency is better that traditional money because it is good in investing because of its high value in the long run. It is efficient and much faster transaction. Easy to transfer money.
it's true, but I don't think the word "efficient" is very suitable here because crypto is volatile and hard to predict. In addition, gas costs will definitely be higher than fiat although the case is not always the same.people choose crypto basically really want to get profits in the long term but this is only one of the last goals because basically before we know the benefits of course they will definitely see the advantages of crypto, man of course we already know apart from the decentralized crypto system , crypto transactions are also immutable and very simple to do
I know about crypto and everything in general but I am having difficulty to understand one thing about it. Why crypto or bitcoin is better than money ?
I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.
This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?
I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.
This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?
I don't agree that crypto is better than traditional money. Both things have their respective advantages and disadvantages and they are also used for different purposes. Crypto is for investment while traditional money is for daily buying and selling activities. Crypto cant be used for currency since it's fluctuated too much.
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Things on why crypto best.
1. Decentralize
2. Irreversible transactions
3. Profit opportunity
Things on why crypto best.
1. Decentralize
2. Irreversible transactions
3. Profit opportunity
Decentralization or Centralization I can not mention both as advantages or disadvantages. I prefer these two aspects to be referred to as the nature of currency. We cannot say that Decentralization is better than Centralization or vice versa. Because humans basically have their own preferences as currency users.
The advantages of cryptocurrencies over fiat are as follows
- Limited supply
- Transparent
- Full online
- Low cost
- Unlimited transactions between countries
- And much more
As society and life move forward so does economic progress with the advancement of science. There has been a lot of evolution in the thing called currency from gold silver or coinage it has become paper money advanced technology is being used to prevent counterfeiting it has no government or institution huge populations around the world are circulating these currencies through a kind of secure network. No one is a policy maker everyone is equal, just a node in the network this coin will go from buyer to seller directly, without any intermediary safely and surely there is no central form of this monetary system, there is complete decentralization. That is why Bitcoin is better than conventional money.
It depends on people's view, If people look at bitcoin better, they seem to be new to bitcoin, because bitcoin is only superior to technology, even bitcoin also has many drawbacks, which can be covered by traditional money. I'm not stating any of the better ones, because I use both.
crypto is further money than traditional money, because the blockchain technology that exists in bitcoin, makes people race to create a better modern financial system, this is a value that traditional money does not have. However, I think traditional money cannot be lost, because bitcoin requires an estimate of fiat.
Traditional money will still be as it is unlike in crypto that there are many ways to use it for transactions or as an investment. The price can double or triple in less time but the risk is high. They both have pros and cons and it will depend on how good we are n handling and in decision making. For now, since adoption isn't that wide yet for crypto then fiat is still a must to use.Agree, I remember those times that the people are only thinking about online transactions because of the fees in trasnfering money like in paypal that it has huge fees and the conversion rate is really huge which the people are thinking of an alternative now the bitcoin or the crypto on that time is getting famous that is really the purpose of the crypto on that time and later on it is getting famous and the price are getting high which lead to people the crypto as an investment and now thinking for future which it could really happen in nearly future
Yes and apart from those stories we all heard about transactions with Western Union in the Philippines costing $30 just in fees, even in Western countries the banks robbed you when you transferred money from one country to another. First it took 5 business days, then they took a hefty fee, and then they also robbed you with the exchange rate as well as a hidden fee. With crypto you do exactly know what the transaction will cost you, but you are of course exposed to the volatility as well.
crypto is further money than traditional money, because the blockchain technology that exists in bitcoin, makes people race to create a better modern financial system, this is a value that traditional money does not have. However, I think traditional money cannot be lost, because bitcoin requires an estimate of fiat.
Traditional money will still be as it is unlike in crypto that there are many ways to use it for transactions or as an investment. The price can double or triple in less time but the risk is high. They both have pros and cons and it will depend on how good we are n handling and in decision making. For now, since adoption isn't that wide yet for crypto then fiat is still a must to use.Agree, I remember those times that the people are only thinking about online transactions because of the fees in trasnfering money like in paypal that it has huge fees and the conversion rate is really huge which the people are thinking of an alternative now the bitcoin or the crypto on that time is getting famous that is really the purpose of the crypto on that time and later on it is getting famous and the price are getting high which lead to people the crypto as an investment and now thinking for future which it could really happen in nearly future
why bitcoin is better than fiat, because bitcoin protects us from inflation and its value rises from time to time, bitcoin is also not regulated by third parties, we ourselves control the bitcoins we have, maybe that's the advantage of bitcoin, but we need to be aware They are always alive side by side, supporting each other.
Crypto currency is one of the best trading platform in the whole world. There is no boundary to participate in this platform so world is in one platform where there is a scope for gaining money using trading. One the other hand anyone can't participate in global trading using traditional money. So in this perception i think crypto currency like bitcoin is better than traditional money.
Crypto here is like a medium, or we can say it is a complement to ordinary currencies, this does not have to be compared, it's good if the benefits continue to help humans in terms of encouraging their lives in terms of finance or like opportunities to encourage personal finance. Of course even though crypto is not a currency in general, it is one thing that deserves to help finance in a more modern way and its value will become more and more as important as ordinary currency.
Can someone explain to me the value of Crypto as a currency when compared to real money ?
I don't get your point here. If you mean to compare the value of crypto coins to fiats, you can easily check it on exchanges or Coinmarketcap. You can see clearly the current prices of all crypto coins in dollars there. You also can check the price change history in detail on Coinmarketcap easily. But if you mean to compare the value of crypto coins and fiats as a payment tool, surely crypto coins have some limitations because they are not legal to use as payment tools in all countries. Most countries just allow them for digital assets/investments.Jump to: