Topic: Why crypto (bitcoin) is better than traditional money? - page 4. (Read 1439 times)

I think Bitcoin is better than fiat, because Bitcoin can not only be used for payments, but Bitcoin is very good as an asset too. It's ideal that
we have both, because until now, I'm more comfortable using fiat to make payments. Bitcoin is only an alternative to payments, moreover,
its volatile price makes Bitcoin ineffective for payments. Actually, the purpose of Bitcoin from the start was not to replace fiat, but as an alternative
to fiat. So that people have more choices when it comes to making payments, so I really hope that both exist and can complement each other.

decentralization that makes bitcoin very attractive because decentralization eliminates people with certain rights can print money and control finances arbitrarily
besides that blockchains have much better security than traditional money and even more difficult to hack

By the adaptation of this digitalized world we can say that  Bitcoin is better than traditional money by means of fast and hustle free transaction over the internet and everything transaction in crypto is fully decentralized.

If we can have both bitcoin and fiat for payment, then bitcoin has definitely achieved its goal. But i believe that both of them should never be compared because they both work on their uses and purposes.

Ho wever, bitcoin may have an advantage because it can also be used as an asset or investment but with fiat, it only serves as a payment purposes. But bitcoin does not aim to overtake fiat as they exist both as a mode of payment.

^ Plus, as a payment method.
All you have mentioned above was right, these are the best advantage of crypto that could be consider better than fiat.
All could be smooth and fast trasaction across borders and easy to use wherever you are, you also have a free to control your fund, not at least you are already a billionaire. Traditional money is not traceable once a holder wanted to have a transaction. Nevertheless, both these two currency can not be compared.

Not really that efficient when it comes to fees because we know that there are really times that fees are way too up high which it is way more than on what we do see in fiat itself.
This isnt only for the sake of investment  purposes on why crypto did really become popular but also into its utility but of course,we could possibly earn profits then its no surprise
that  people would really be focusing on this one.

Things on why crypto best.
1.  Decentralize
2. Irreversible transactions
3. Profit opportunity

I'd only commend it for the fact that your money is in your control, your full control. But what I'd commend most is the ease of sending money across countries without stress. For instance, If I were to send your some money, any amount at all, I will simply ask you to send your wallet address. I can send the money using any cryptocurrency. Some people prefer USDT(Because it pegged to USD). This is as easy as it sounds. With normal paper money, sending money can be stressful and can take long time. https://support.kraken.com/hc/en-us/articles/203325283-Cryptocurrency-deposit-processing-times - Here is a list of average transaction time for some different blockchain I just found on Google search.

There are several reasons which make crypto( bitcoin) better then the traditional money..
It is a decentralized currency means no bank involvement in the transaction process..
It has better investment options..
Bitcoin is not restricted to borders..
It is  secure and theft resistance..
It has no transaction charges.

Economist will teach you a lot about money and currency. BTC is such passing off here - BSV much closer

Compared with traditional currencies, cryptocurrencies are more secure, and because the total amount of Bitcoin is fixed, it cannot be issued at will and will not cause inflation. As an investment, cryptocurrency also has good value.

I think they are both the same, there is nothing better or worse, Both have their own properties and complementary benefits, I think fiat will not be able to interfere with bitcoin, nor will bitcoin. Because without fiat bitcoin can not be exchanged, and without bitcoin fiat is also just a paper that does not know technology.

There are many difference. As examples Crypto is digital currency and traditional money is physical. But the all money, we are using for the transactions. So the physical money payments are more secure and that have visibility though digital payments are very easy but not much secure. If we can create a transaction procedures with big security options , Crypto payments will be highly simple and easy.

actually not bitcoin and money are the same, what differentiates is the function of the two.
there is nothing better between the two in the sense that their position is the same but their functions are different but their purpose is the same.
because the point in both is the same makes us happy
what makes money is simpler and can be used anywhere and anytime but bitcoin is different bitcoin is not like that but the benefits are the same

This means that the community needed the two. And everyone had a choice which one to use in different places and in different transactions. As we know that digital innovation had already started a long time ago before Bitcoin exists but ti sad that it wasn't appreciated much compared to Bitcoin. This is to accept that this new technology had got the interest of the public and much more comfortable to use than the previous one.

Neither to say Bitcoin is better than traditional, it also matters which one is applicable.

CryptoCurrency (Bitcoin)  Compared to Traditional Currency, Both of them are important , it only depends on the people who would use of it. Just Example for your Daily Life , You cant buy in a convenient store using bitcoin usually you will pay fiat. Otherwise there's an advantage of cryptocurrency ,Crypto is decentralized , Speed of transaction , And Safe To your Information.

Compared with traditional currencies, Bitcoin certainly has a greater advantage. First of all, the possibility of Bitcoin's inflation is extremely low. The government holds the sole right to issue traditional currencies, which is directly related to whether the currency depreciates or not. The total amount of Bitcoin is constant, only 21 million, which avoids the possibility of excessive currency issuance, and the decentralized storage and transaction model greatly weakens the government's control. Secondly, the security performance of Bitcoin is good. From the perspective of security, ordinary banknotes are anonymous, that is, the identity of the owner cannot be identified by the banknotes, and it may be stolen at any time in the pocket, and there is a risk of the bank being stolen. Bitcoin is a cryptocurrency stored on a decentralized blockchain. When a transaction occurs, it needs to pass through two levels of public key and private key, and it must wait until each node records the transaction in its own ledger. After that, the transaction is considered complete. At the same time, the design of Bitcoin based on cryptography allows the owner to enjoy 100% control. Unless the owner's resources disclose the private key, neither the bank nor the government can transfer these assets.

cryptocurrencies are better than traditional money because:
first, cryptocurrencies are decentralized which means it is not regulated by central authority, they cant be devalued or inflated by the banks unlike traditional money. second, millions of money units can be transferred at lightning fast speed while keeping the users anonymous whereas traditional money could take up days or even weeks, third, although there is a service charge for transferring the funds, it is much lower than bank rates, fourth, they provide total anonymity and digital cash is widely accepted in contrast to the local cash currency, fifth, cryptocurrencies cannot be destroyed or damaged as opposed to traditional money. hope that helped.

The more reason bitcoin seems to be better than fiat is that it isn't controlled by any government and also it gives us full control of our assets. Bitcoin is connected with alot of beneficial activities which can liberate an Individual financially, holding bitcoin for a period of time will surely fetch you earnings if you bought at a cheaper price, check the yearly chat and see the price movements of bitcoin. It had changed lives of many but the fiat currency can't do all of this.

Fiat and bitcoin are both important for a different perspective of different people, both are good because both have different purposes, We are using fiat currency for our daily lives and we mostly used it when having a small transactions, while cryptocurrency or bitcoin is being used a store value or as an asset which is really good for investment. We cant only choose bitcoin because we need fiat currency when we are going to pull it out as most of the convenience stores or businesses do not accept bitcoin as payment. The thing as of now is that we can't live without fiat currency but we can live without cryptocurrency, but it doesn't mean that cryptocurrency is not important, well in fact there are so many benefits of being knowledgeable in cryptocurrency and I know that bitcoin will be more accepted all over the world in the future.

Number of transactions per second is the only issue with bitcoin transactions because when the number of transaction increases the fee also increases and waiting time too so users are forced to use huge fee of wait for days or weeks.

Bitcoin doesn't need approval from governments to work since its purely peer to peer mode of transacting but for legal purpose we may need but bitcoin will still work even if every government in the world bans it.