Topic: Why Cryptocurrency is better than fiat currency? - page 5. (Read 1507 times)
I believe that we have a very good opportunity to make money on a new type of currency. The price of cryptocurrency should grow every year. Especially the price should rise after a fall in prices over the past two years.
And basically, the solution to such problem like these, is to develop a cryptocurrency that will be the base currency for a certain country. Definitely, a stable currency that will depends on the economic status of a particular country that can be manage by the government and its people. It can improve allot of areas in living, and whales cannot manipulate the market value. In this case, we can live in a world, where it's all digital and seamless.
Do you mean developing another sh*tcoin? Please, I don't think that's a solution at all, or rather do we even need a solution for that?
Creating a dedicated sh*tcoin for every country--what's the difference it makes compared to having fiat money (which every country has)? It defeats its purpose. What's wrong on just using a "universal" cryptocurrency(-ies) (Bitcoin, and some notable ones), isn't it more convenient to just use few? It would just result in congestion (which we are facing now). Adaptation is still hard enough for Bitcoin, what more to "unfamiliar" sh*t coins(?), in fact, it would only cause confusion to people, and you want me to believe that citizens of a country would just say yes about it?
One thing I like about cryptocurrency is that even an ordinary person can easily gain access as long as he/she got a money for buying crypto and wallet for storing the funds, you do not need to go through a stressful verification process just like the banks are doing for their new customers.
At the moment, Bitcoin is the most widely used digital coin across the globe and it does almost everything a fiat currency can do. I believe that in the next coming years more people will realize it soon and the time for mass adoption will come.
At the moment, Bitcoin is the most widely used digital coin across the globe and it does almost everything a fiat currency can do. I believe that in the next coming years more people will realize it soon and the time for mass adoption will come.
Yes. But for me we still need both of them as Bitcoin is not that widely used, so we still need fiat in our life. Investment wise, yes Bitcoin is better as you can earn money in it more than you are expecting depending on your strategy, while I'd you invest fiat it cannot give you returns the way Bitcoin can, as bank just offering minimal interest.
There are circumstances that cryptocurrencies are better; same with fiat currency. Both have their positive impact, comparable to the amount; cryptocurrencies are higher but fiat money is more stable. See? Both have their advantages so you better to keep them two. Do not choose one.
I think that in the future cryptocurrency will definitely be more stable than fiat money. So it’s better to buy now Bitcoin and Altcoins, which have a high level of liquidity.
One thing I like about cryptocurrency is that even an ordinary person can easily gain access as long as he/she got a money for buying crypto and wallet for storing the funds, you do not need to go through a stressful verification process just like the banks are doing for their new customers.
At the moment, Bitcoin is the most widely used digital coin across the globe and it does almost everything a fiat currency can do. I believe that in the next coming years more people will realize it soon and the time for mass adoption will come.
At the moment, Bitcoin is the most widely used digital coin across the globe and it does almost everything a fiat currency can do. I believe that in the next coming years more people will realize it soon and the time for mass adoption will come.
cryptocurrency can be a solution if a country experiences an economic crisis that causes the value of fiat currencies to fall. Fiat currencies fall because of hyperinflation. This inflation is caused by too much fiat money being printed. this is the reason cryptocurrency is better than fiat currencies. Fiat currencies always experience inflation while cryptocurency does not. because decentralized cryptocurrency will not cause inflation because there is no regulatory authority. cryptocurrency works according to market conditions. and the crypto market is influenced by supply and demand.
One crucial aspect that you forgot the include is the acceptance of cryptocurrency in the world and its value in the long-run.
Although you have stated that more countries are beginning to accept its utilization, it is far from reality where we adapt and implement a digitalized form of cash throughout the world. In addition, the value of cryptocurrencies are dictated by its supply and demand in the market which can make its price highly inflationary once its supply decreases.
The problem with having a limited supply of money in circulation is among the people who own such majorities of its supply. Thus, it is at their disposal and power to manipulate and control the market and its price.
Corruption factor could give positive for bitcoin where many country will adopt bitcoin with transparent payment sending system, using bitcoin we know how public can access with looking for on bitcoin transaction history, public now where and how much bitcoin sending from one wallet to other wallet, fiat currencies look hidden for every payment proof and look not transparent for using as payment system for sending or receiving money.
It is true that there are a lot of good things that will happen if crypto currency is our fiat but I don't think that will ever happen, ever. Bitcoin and crypto currencies are digital currencies, they are volatile and there is no way that governments will not be controlling fiat in their country. We all know that if that will happen, whales will be controlling the value of currencies, just imagine a whale controlling a country's economy.
And basically, the solution to such problem like these, is to develop a cryptocurrency that will be the base currency for a certain country. Definitely, a stable currency that will depends on the economic status of a particular country that can be manage by the government and its people. It can improve allot of areas in living, and whales cannot manipulate the market value. In this case, we can live in a world, where it's all digital and seamless.
Corruption factor could give positive for bitcoin where many country will adopt bitcoin with transparent payment sending system, using bitcoin we know how public can access with looking for on bitcoin transaction history, public now where and how much bitcoin sending from one wallet to other wallet, fiat currencies look hidden for every payment proof and look not transparent for using as payment system for sending or receiving money.
It is true that there are a lot of good things that will happen if crypto currency is our fiat but I don't think that will ever happen, ever. Bitcoin and crypto currencies are digital currencies, they are volatile and there is no way that governments will not be controlling fiat in their country. We all know that if that will happen, whales will be controlling the value of currencies, just imagine a whale controlling a country's economy.
Indeed we required some revolutionary change in financial industry and that should be Bitcoin and other cryptocurrencies. I strongly believe that this corruption factor pulls off many people out and make good economic stability for every country.
Like how people are saying Bitcoin is untouchable like same Fiat currency is just a paper which is printed with numbers. That should be crashed with Bitcoin very soon.
Corruption factor could give positive for bitcoin where many country will adopt bitcoin with transparent payment sending system, using bitcoin we know how public can access with looking for on bitcoin transaction history, public now where and how much bitcoin sending from one wallet to other wallet, fiat currencies look hidden for every payment proof and look not transparent for using as payment system for sending or receiving money. Like how people are saying Bitcoin is untouchable like same Fiat currency is just a paper which is printed with numbers. That should be crashed with Bitcoin very soon.
I think all cryptocurrencies will reload whole financial world, like internet did in 90's
First of all cryptocurrency is a non legal distribution of money in which they don't need to pay their taxes in order for them to buy some goods or things while in fiat you need to transfer crypto into a fiat to become a legal currency that has been issued by the government in which the items or the things you need to buy have a equivalent of a taxes. That was one of the many reasons why cryptocurrency is more better than fiat.
There are circumstances that cryptocurrencies are better; same with fiat currency. Both have their positive impact, comparable to the amount; cryptocurrencies are higher but fiat money is more stable. See? Both have their advantages so you better to keep them two. Do not choose one.
I think that in the future cryptocurrency will definitely be more stable than fiat money. So it’s better to buy now Bitcoin and Altcoins, which have a high level of liquidity.I think "stable" is not the right word for it to consider that it's better than fiat money. We will still have the same volatility that we experience now. Probably the same slow-transaction speed (depending on the volume), but nevertheless maybe liquidity will make significant changes by a lot, especially when people or a lot of countries have already adopted cryptocurrency as part of their "daily" transactions. That would be an interesting thing to see.
There are circumstances that cryptocurrencies are better; same with fiat currency. Both have their positive impact, comparable to the amount; cryptocurrencies are higher but fiat money is more stable. See? Both have their advantages so you better to keep them two. Do not choose one.
I think fiat currency is going to last forever. I mean when you look at London stock exchange, NY stock exchange. Compare them to crypto exchanges like Binance or OKEX or what not? you will see the different (The formality and volume)
Reference:
https://www.londonstockexchange.com/home/homepage.htm
okex.com
Reference:
https://www.londonstockexchange.com/home/homepage.htm
okex.com
for tons of time this same question has been answered from all sides but in the end its not about which is better but the one will help people use the currency in the most sufficient ways.for me theres no need for comparison because Fiat will serve people and cryptocurrency was created to do the same so why need to give questions that don't need to be answered
Digital money is more convenient than fiat money because: 1) Can be sent anywhere in the world in seconds and with minimal Commission. 2) For their storage is not required to open a bank account and pay for it. 3) Some digital assets are anonymous, which is very important for some people.
you have given 3 major reason why cryptocurrency is friendly user but fiat can give you assurance that you can make payments even without Internet since this can happen and crypto wont save you in this case 
Digital money is more convenient than fiat money because: 1) Can be sent anywhere in the world in seconds and with minimal Commission. 2) For their storage is not required to open a bank account and pay for it. 3) Some digital assets are anonymous, which is very important for some people.
I can't really say its better than the other. They both have their own capabilities as currencies.
Yes, cryptocurrencies are gradually being accepted in the industry, but I don't think it's enough to be used globally and by everyone since not all still has access to the minimum requirements to transact in crypto.
Your #2 and #3 statements are almost the same. It just says that blockchain is secure. While this is true, you cannot deny that some exchanges, ICOs, and malware could still impose risk on crypto. Not to mention that transactions are irreversible, once you get scammed/stolen, there's no way you'll get insurance.
Fiat, as of now is better on handling smaller transactions where the need of crypto is not really necessary. Also, bitcoin's market is volatile, either you label the goods by USD and be able to pay using BTC, or change price by mBTC regularly, which isn't viable for small businesses to use.
One good thing though is it removes intermediary, which is good for transactions to anyone with minimal fees and no limitations.
Privacy and anonimity in cryptocurrency can be good or bad. It really depends on who uses it. For example, most markets in deep web (onion sites) use cryptocurrencies for payments to illegal activities.
Yes, cryptocurrencies are gradually being accepted in the industry, but I don't think it's enough to be used globally and by everyone since not all still has access to the minimum requirements to transact in crypto.
Your #2 and #3 statements are almost the same. It just says that blockchain is secure. While this is true, you cannot deny that some exchanges, ICOs, and malware could still impose risk on crypto. Not to mention that transactions are irreversible, once you get scammed/stolen, there's no way you'll get insurance.
Fiat, as of now is better on handling smaller transactions where the need of crypto is not really necessary. Also, bitcoin's market is volatile, either you label the goods by USD and be able to pay using BTC, or change price by mBTC regularly, which isn't viable for small businesses to use.
One good thing though is it removes intermediary, which is good for transactions to anyone with minimal fees and no limitations.
Privacy and anonimity in cryptocurrency can be good or bad. It really depends on who uses it. For example, most markets in deep web (onion sites) use cryptocurrencies for payments to illegal activities.
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