both of them live side by side, need each other, just a different way of working ,, we can't use bitcoin to shop at Indomaret and supermarkets, but bitcoin has a high market price, and we can invest it in our future. , fiat currency We really need it, especially the common people who don't understand the digital world ...
for now we can't say it's slightly better than fiat ''
Topic: Why crypto (bitcoin) is better than traditional money? - page 5. (Read 1439 times)
not better, but bitcoin is more sophisticated than traditional currency, because the system of bitcoin and payment can be easier, even today, bitcoin is more suitable for busy people like today.
While for busy people but this is the best thing to improve our lives when others are focusing in banking system that experiencing too much hacking nowadays.from ATM being used even if you have 2fa to banks being robbed and the depositors suffers in the end.
I think Bitcoin is a very interesting attempt, a great innovation as a virtual currency, and I think it will exist for a long time. Its value support lies in people's commemoration of the pioneer of this virtual currency and the huge bubble created by it.
even if it is not bitcoin that will stay forever but at least Crypto alts will come to rescue the world for the financial aspect.
Bitcoin separates money from state. It replaces a state's monetary policy with a predictable and diminishing inflation rate, making Bitcoin a scarce asset in such a way that you don't have to take anyone's word for it. Bitcoin can be held in private custody in such a way that it's hard to confiscate, and can be transferred in such a way that it's hard for anyone to prevent you from doing it.
And these are the reasons Bitcoin is better than traditional money.
And these are the reasons Bitcoin is better than traditional money.
I think Bitcoin is a very interesting attempt, a great innovation as a virtual currency, and I think it will exist for a long time. Its value support lies in people's commemoration of the pioneer of this virtual currency and the huge bubble created by it.
Cryptocurrency has better security. Compared with traditional banknotes, cryptocurrency does not need to be carried around, so it will not be stolen; In the transnational business, there is no need for cumbersome procedures to exchange the currency of other countries.
not better, but bitcoin is more sophisticated than traditional currency, because the system of bitcoin and payment can be easier, even today, bitcoin is more suitable for busy people like today.
Crypto is not controlled by any central banks that is what the main difference between crypto and these so called traditional money, the supply of bitcoin is limited while the traditional money can be printed as much as a government an banks wants.
I agree with the two points that you mentioned prove why Bitcoin can be better than fiat. Therefore, slowly people began to adopt Bitcoin,because it is saturated with the control exercised by the government for every financial transaction that we carry out. Bitcoin gives us the freedom
to control our own finances, I also found it helped me to be able to send money to my family overseas with Bitcoin. Because if I use fiat through
the bank system, the possibility of the process can take days and the costs incurred are also greater than I use Bitcoin. Then the last thing that
makes me believe why Bitcoin is better than fiat, Bitcoin can be a digital asset, so storing Bitcoin in the long term can make us rich.
Bitcoin does have several weaknesses as a currency, so it can't be used fully as a means of payment. There are some transactions that are better off
using fiat than Bitcoin. So it's best if Bitcoin is just a fiat alternative, there still needs to be a fix for some of Bitcoin's weaknesses. Moreover, there are
still many countries that reject Bitcoin as payment, it does require a long process, so that Bitcoin can be accepted by all countries in the world.
Even though Bitcoin still can't function very well as a currency or as traditional money, it also has the power to make sure that traditional money is better than it would be without Bitcoin existing. It works like a counter to bad monetary policy and central banks know that.
Crypto is not controlled by any central banks that is what the main difference between crypto and these so called traditional money, the supply of bitcoin is limited while the traditional money can be printed as much as a government an banks wants.
I agree with the two points that you mentioned prove why Bitcoin can be better than fiat. Therefore, slowly people began to adopt Bitcoin,because it is saturated with the control exercised by the government for every financial transaction that we carry out. Bitcoin gives us the freedom
to control our own finances, I also found it helped me to be able to send money to my family overseas with Bitcoin. Because if I use fiat through
the bank system, the possibility of the process can take days and the costs incurred are also greater than I use Bitcoin. Then the last thing that
makes me believe why Bitcoin is better than fiat, Bitcoin can be a digital asset, so storing Bitcoin in the long term can make us rich.
Bitcoin does have several weaknesses as a currency, so it can't be used fully as a means of payment. There are some transactions that are better off
using fiat than Bitcoin. So it's best if Bitcoin is just a fiat alternative, there still needs to be a fix for some of Bitcoin's weaknesses. Moreover, there are
still many countries that reject Bitcoin as payment, it does require a long process, so that Bitcoin can be accepted by all countries in the world.
Bitcoin is arguably the most divisible, portable and durable store of wealth ever created. In the diagram below you can see the benefits of Bitcoin vs money and how it is shaping up to be the future of money.
The main proposition of bitcoin is that it is decentralised: anyone in the world with an internet connection can use the system and know their wealth and transactions are being secured by the largest computer network in history.
Our financial system today relies on a central party to be entrusted to broker our financial arrangements. The Bitcoin mining algorithm however, ensures a network of computers that don’t know each other will interact with each other in a trusted and reliable manner. It shifts control to a decentralized model removing layers of overheads and inefficient handling.
Basically, Bitcoin possesses all of the traits of money and improves upon them. Winklevoss Capital is famed for describing Bitcoin as “better at being gold than gold”.
In the domain of new product and technology adoption, when a product is superior, 10x better than its closest substitute, it will supersede its competition.
The main proposition of bitcoin is that it is decentralised: anyone in the world with an internet connection can use the system and know their wealth and transactions are being secured by the largest computer network in history.
Our financial system today relies on a central party to be entrusted to broker our financial arrangements. The Bitcoin mining algorithm however, ensures a network of computers that don’t know each other will interact with each other in a trusted and reliable manner. It shifts control to a decentralized model removing layers of overheads and inefficient handling.
Basically, Bitcoin possesses all of the traits of money and improves upon them. Winklevoss Capital is famed for describing Bitcoin as “better at being gold than gold”.
In the domain of new product and technology adoption, when a product is superior, 10x better than its closest substitute, it will supersede its competition.
Crypto is not controlled by any central banks that is what the main difference between crypto and these so called traditional money, the supply of bitcoin is limited while the traditional money can be printed as much as a government an banks wants.
I agree with the two points that you mentioned prove why Bitcoin can be better than fiat. Therefore, slowly people began to adopt Bitcoin,
because it is saturated with the control exercised by the government for every financial transaction that we carry out. Bitcoin gives us the freedom
to control our own finances, I also found it helped me to be able to send money to my family overseas with Bitcoin. Because if I use fiat through
the bank system, the possibility of the process can take days and the costs incurred are also greater than I use Bitcoin. Then the last thing that
makes me believe why Bitcoin is better than fiat, Bitcoin can be a digital asset, so storing Bitcoin in the long term can make us rich.
Crypto is not controlled by any central banks that is what the main difference between crypto and these so called traditional money, the supply of bitcoin is limited while the traditional money can be printed as much as a government an banks wants.
I agree with the two points that you mentioned prove why Bitcoin can be better than fiat. Therefore, slowly people began to adopt Bitcoin,
because it is saturated with the control exercised by the government for every financial transaction that we carry out. Bitcoin gives us the freedom
to control our own finances, I also found it helped me to be able to send money to my family overseas with Bitcoin. Because if I use fiat through
the bank system, the possibility of the process can take days and the costs incurred are also greater than I use Bitcoin. Then the last thing that
makes me believe why Bitcoin is better than fiat, Bitcoin can be a digital asset, so storing Bitcoin in the long term can make us rich.
Crypto is not controlled by any central banks that is what the main difference between crypto and these so called traditional money, the supply of bitcoin is limited while the traditional money can be printed as much as a government an banks wants.
I think Crypto have more better than money.
one of the advantages is that transactions are faster than real money. Then the administrative costs are cheaper and even almost nonexistent. And maybe many more.
Here is a free tutorial on investing in cryptocuone of the advantages is that transactions are faster than real money. Then the administrative costs are cheaper and even almost nonexistent. And maybe many more.
rrency. https://stfly.me/V7xGZsF
In my point of view bitcoin is online based currency that owner have its security , other hand fiat is government supply of currency that has less security than bitcoin . You can carry bitcoin virtually that no prblm of security but fiat have always security problems . Bitcoin price will increase if you hold it but fiat create no difference by holding it ,
When viewed from the point of view of its function as a currency on the internet, it is clear that Bitcoin is more reliable for transactions and payment gateways. We can send and receive Bitcoin anywhere instantly and it's possible to track transactions because of the help of Blockchain.
And when viewed from the function of currency in the real world, coins and paper are the best choices at the moment. Whether you accept it or not, USD is more popular than cryptocurrency for now (May 2021) globally and internationally. Owned by many people, makes their existence stronger and safer to own and more comfortable when used to buy a bottle of Coke at the convenience store.
And when viewed from the function of currency in the real world, coins and paper are the best choices at the moment. Whether you accept it or not, USD is more popular than cryptocurrency for now (May 2021) globally and internationally. Owned by many people, makes their existence stronger and safer to own and more comfortable when used to buy a bottle of Coke at the convenience store.
We could say that Bitcoin is "the currency of the Internet", while Fiat (traditional money) is the standard of mainstream commerce. Stability and widespread merchant acceptance is what distinguishes Fiat from Bitcoin. The latter is more useful as a store of value than a currency for day-to-day payments. That's because of the high fees, slow processing times, and unstable prices on the market. Neither currency will replace one another because they're completely different things. It's like comparing apples vs oranges.
Nonetheless, people will get to decide which type of currency to use for mainstream payments. Not everyone will find Bitcoin attractive because of its many limitations. Fiat is and will always be the ideal choice for merchants, businesses, and individuals alike because of the reasons mentioned earlier. Bitcoin will only remain as an alternative currency for those seeking an "exit route" from the current monetary system. As long as it remains decentralized, nothing else matters. Just my thoughts
I think Crypto have more better than money.
one of the advantages is that transactions are faster than real money. Then the administrative costs are cheaper and even almost nonexistent. And maybe many more.
one of the advantages is that transactions are faster than real money. Then the administrative costs are cheaper and even almost nonexistent. And maybe many more.
I still see one drawback of cryptocurrency. What if someone forgets to back up their wallet access, then loses access to the wallet? they will lose as much assets as they have in cryptocurrency. I know, if crypto technology is much superior, but fiat is a crypto friend that can not be separated from both.
I believe in the near future there will be alternative options to give investors more safety when keeping their coins, like third party services offering storage for crypto currency with the same guarantees you have when storing fiat at bank. However, nothing is more guaranteed than storing your money in your own hands.
That's the intention of having decentralization, hlding your own money in your safe own wallets. It's about time for more people to learn how to take care of their belongings,
Instead of allowing banks to earned from your deposits, it's you now who will managed everything. It's tough for those who completely new to this system and those who are using banking system, but embracing the changes will help them to realized the value of this new chain.
Proper knowledge and more adoptions will open doors for more people to start using this system that will be very beneficial.
The betterment of crypto to be compared to fiat or traditional money is based only on perception on the individual himself. Cryptocurrency and traditional money are both co-existing in a single space and what makes them compare is the experience of each and every person using them simultaneously.
Besides perspective, I am pretty sure that there is a general difference that is beneficial to everyone like bitcoin is a growing asset compared to fiat that doesn't grow in value, it is clearly much better. Quote
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.
being revulotionary is what makes crypto better than moneyfor ex. crypto is online and we can transfer a crypto anywhere or use it in shops that accepts a crypto even if without a money or without the help of money transfer service but when it comes to simplicity nothing can beat the good old fiat and they are instant if your only going to use it locally or in your nearby areas .
crypto prices can rise even if theres less support from companies and bussiness because common people primarily invest and use a crypto
I think Crypto have more better than money.
one of the advantages is that transactions are faster than real money. Then the administrative costs are cheaper and even almost nonexistent. And maybe many more.
one of the advantages is that transactions are faster than real money. Then the administrative costs are cheaper and even almost nonexistent. And maybe many more.
I still see one drawback of cryptocurrency. What if someone forgets to back up their wallet access, then loses access to the wallet? they will lose as much assets as they have in cryptocurrency. I know, if crypto technology is much superior, but fiat is a crypto friend that can not be separated from both.
I believe in the near future there will be alternative options to give investors more safety when keeping their coins, like third party services offering storage for crypto currency with the same guarantees you have when storing fiat at bank. However, nothing is more guaranteed than storing your money in your own hands.
The betterment of crypto to be compared to fiat or traditional money is based only on perception on the individual himself. Cryptocurrency and traditional money are both co-existing in a single space and what makes them compare is the experience of each and every person using them simultaneously. Maybe the reason behind why some or most of the people states that crypto is better that traditional money is when it comes to processing of transaction and other stuffs made easy by using cryptocurrency. But then again both are goo and unique on their own ways. What makes them different and have an edge will be based on people's perceptions only.
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