Why I would rather have paper money then Bitcoin - page 13.

Images21

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Quote from: squatz1 on January 04, 2018, 03:10:31 AM

This is going to come to a surprise to many on here, but at the moment I'd rather have paper (US FIAT) money. It's something that I would be able to actually use in my life with ease, and even though I love crypto and everything I have to be honest about what I think and see.

Plus for the fact that if i was to have bitcoin right now, I'd be paying a very high amount in fees if I wanted to actually end up using this money.

There is truth in this one. I for one is spending fiat currency more than Bitcoin and other cryptocurrencies. There are lesser shops and stores accepting Bitcoin or cryptocurrency payments. Not to mention the high fees that are always coming in each and every transaction. Bitcoin is generally treated as a form of asset or investment right now. I am doing it that way. After all, the growth is really amazing so I guess people prefer it that way. Still, I hope Bitcoin core team will fix the hassles that come along with Bitcoin.

ajmapalo22

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Paper money don't have any risk of decreasing in value rather than bitcoin. It's fixed and very reliable also it is regulated by the government so you don't have to worry of waking up one day and your money will be gone. So far paper money is very liquid and easily use and putting them in a bank account will assure of return as what banking institution promise but crypto currencies is unpredictable and can lose its value anytime

xuan87

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Well it's not surprising, it's easier to buy something in Fiat for now, but when many countries already legalized Bitcoin then you will say Bitcoin is better than Fiat, it's true that for transactions inside the country Fiat is better but for transactions abroad Bitcoin is better, and then Bitcoin also can be use from investment, so I don't blame your point of view,but you will change your mind in the future

mayidid

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Fiat is easier to use, but that doesn't mean they are better. Cash tie you to a particular place, but bitcoin lives in the world where there is Internet. Cash is constantly getting cheaper and the bitcoin expensive. My opinion is that these currencies complement and not exclude each other. and if we measure in terms of security, profit and usability then Bitcoin is better than cash.

furry04

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speaking for this moment btc will not even be considered as an everyday currency that you can use because it has so high fees and high volatility as well that makes it not a good currency to use. It is rather for investment right now.

Empiretoken

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Bitcoin is a blessing to our generation and not a curse. i will personally use bicoin now and in the near future that paper
money because Bitcoin increases in value while paper money does not.

pixie85

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Quote from: Don Pedro Dinero on January 05, 2018, 06:34:48 AM

If I had a lot of money today, let’s say $1.000.000, I would prefer to have it in fiat money than in bitcoins. This being said, if I had that amount, I would invest some, between 5% and 25% in bitcoin and maybe some other cryptos.

Nowadays cash is still king.

He's not talking about fiat but paper bills specifically. In that case I'd also prefer to have bills right now, although if I could I'd put at least 30% in cryptocurrency.
Cash is still easier to trade for goods and services than cryptos, but it's also more difficult to hide and move around and much easier to steal.

youngagethinker

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Quote from: squatz1 on January 04, 2018, 03:10:31 AM

This is going to come to a surprise to many on here, but at the moment I'd rather have paper (US FIAT) money. It's something that I would be able to actually use in my life with ease, and even though I love crypto and everything I have to be honest about what I think and see.

Plus for the fact that if i was to have bitcoin right now, I'd be paying a very high amount in fees if I wanted to actually end up using this money.

I wonder if these thread is alive for the next 10 years and lets see if you still prefer fiat over BTC or crypto. Second layers are developing and some cryptocurrencies have pretty low fees, it's not just all on BTC itself.

Quote from: _Mikasa_ on January 04, 2018, 03:49:19 AM

I would also rather have paper money than bitcoin AS a payment. Fiat money system is really hassle free and very flexible in payments and transactions unlike bitcoin. Yes, bitcoin have some its good traits like being untracable but it's fees are too high

IT is a matter of time and patience, we are slowly entering the digital era of payment and of course fiat might be really convenient in paying foods and transportation fees but still there will come a time where almost everything is cashless. It ain't now but it will come.
And you will say (If still alive on that time) Why people in the past didn't think about this crypto fast?

danggoron

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Come on, do you plan on buying candy with bitcoin? That is why fiat is needed because it does not depend on transaction fee and easy to use.
While bitcoin is less effective for micro-payment, bitcoin is more suitable for investment and commodities.

christina30

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Quote from: squatz1 on January 04, 2018, 03:10:31 AM

This is going to come to a surprise to many on here, but at the moment I'd rather have paper (US FIAT) money. It's something that I would be able to actually use in my life with ease, and even though I love crypto and everything I have to be honest about what I think and see.

Plus for the fact that if i was to have bitcoin right now, I'd be paying a very high amount in fees if I wanted to actually end up using this money.

Will bitcoin is a greate currency and great to hold in a years or month.but when it comes in real currency paper money is good.Because not all store accept bitcoin payment but paper money you can anyone and any where store at the world.Hope world will accept bitcoin and accept the fack that bitcoin is great way to be rich

Cryptoshops

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We all need Fiat we wouldent be able to live without it and even the crypto community need Fiat as much as they like to deny it. Fiat is what makes crypto worth buying and selling because we all sell it for Fiat.
Sadly the whole idea of just using Crypto and getting away from a central bank will not happen for a very very long time. I doubt we will see it happen in our life time, and the way Bitcoin has gone makes it even more unlikly to be used as an every day spending paper money.

Skieleton

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Paper money has its own advantage, they do not need a password

.At this point, it is also worth mentioning the threats that result from this technology. We live in an age when we are under surveillance at almost every step. Companies want to know about us as much as possible to be able to sell us as much as possible. Buying anything on the internet we give your data, we set up accounts, we collect dozens and even hundreds of passwords. All these portals, however, have one advantage. In the event that we forget the password to your account on a social network or in a bank, we can always click: "I do not remember the password" and receive a new one. In the case of our wallet, we do not have such a possibility.

devarajdp

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The most important feature of a currency is that it be a stable store of value. This credo, ably explained by Steve Forbes here (among many places), is vital for a developing country economy to attract the investment it needs. Even in developed countries, as John Tamny explained here on Forbes.com, a stable currency value is the key to investment because those who invest are expecting a stream of future earnings to earn back their investment plus some profit. Instability in currency values mean that an investor cannot accurately predict the value of those future earnings. This uncertainty makes investments less valuable; thus, less investment happens.

Dapper

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It's a good idea to hold both. The major hassle (for me) with fiat, especially USD is that you need to trade it in constantly when they retire the older versions or bills. This is for when you are storing cash outside of the US (in the US, it's not a big deal because you can use still use 80's and 90's bills with no problems for the most part). But outside of the US, it gets to the point where even banks will not exchange them for you into other currencies. I know, it sounds like 'a problem I'd like to have' but it indeed can be a time consuming labor when the amounts involved get higher.

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Quote from: squatz1 on January 04, 2018, 03:10:31 AM

This is going to come to a surprise to many on here, but at the moment I'd rather have paper (US FIAT) money. It's something that I would be able to actually use in my life with ease, and even though I love crypto and everything I have to be honest about what I think and see.

Plus for the fact that if i was to have bitcoin right now, I'd be paying a very high amount in fees if I wanted to actually end up using this money.

Isn't this obvious? Bitcoin cannot replace the fiat system,as fiat doesn't require a fee for transferring money between hands,its the intermediaries that require so. Y'all love crypto for the main reason which is nothing but volatility,all the other features are just present so that people can prove themselves how "loyal" they are to crypto,and how well they "love" them. Reality has always been a bitch to human eyes,and it continues to do so,just wait until someone opens it to you. So knock knock,mister. The argument for the winner between fiat and bitcoin can go on and on,fiat does has the upper hand,no matter what,for the fight will be between billions vs a few millions.

Swenna

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Quote from: A Feeder on January 05, 2018, 07:54:43 AM

I would still rather have bitcoins because their increases in prices are very unique. And, also I am not a US citizen so the paper money that you are saying is futile for me.

I agree with this one. I rather have a bitcoin than US dollar because of its capability of making profits while holding. Moreover, if I have a bitcoin, I can just cash out any time I wanted to (disregard that high fee of transaction). But, when it comes to spending and using an actual currency in the real world, I will prefer fiat because the real world requires something tangible like paper bills.

A Feeder

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I would still rather have bitcoins because their increases in prices are very unique. And, also I am not a US citizen so the paper money that you are saying is futile for me.

eternalgloom

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I definitely understand where you're coming from... When the average Bitcoin user tries to make a transaction and suddenly sees that he would have to pay 20 or 30 dollars worth of BTC in fees, it's understandable that they'd rather use fiat.

I don't care too much about these higher fees, I'm already using Segwit addresses, which reduces the amount of fees I have to pay, and I don't mind waiting an hour for confirmations, so I usually add a lower fee anyway.
Even when using 150 satoshis/byte, my transactions get through eventually.

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Quote from: squatz1 on January 04, 2018, 03:10:31 AM

This is going to come to a surprise to many on here, but at the moment I'd rather have paper (US FIAT) money. It's something that I would be able to actually use in my life with ease, and even though I love crypto and everything I have to be honest about what I think and see.

Plus for the fact that if i was to have bitcoin right now, I'd be paying a very high amount in fees if I wanted to actually end up using this money.

It is true that paying small transaction with BTC is not cost effective currently,especially if you do not use SegWit to reduce fees.But you are looking at this situation from the viewpoint of user who want you use BTC for daily payment,but for me BTC is more then that and I look it as very valuable asset and also as currency for future.Things will become much better with wide application of SegWit and I hope in near future Lightning Network.

In my opinion converting BTC to fiat is not smart move considering potential that BTC will have in the future,but I can understand that there are people who need BTC for everyday needs.It would be ideal in that situation to convert some % to fiat and keep some BTC for the future.

taiwww

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Bitcoin is not successful or popular as a currency. It is more popular as an asset or investment. People have confidence and trust on it as a good return giving investment. Digital currencies needs some infrastructure setup. Fiat money is the most flexible, convertible and easiest tool setting a transaction. That is why still today every country has its own physical currency. Fiat currencies centralised nature affecting those who are dealing in currency markets not to those who are using it in day to day transaction. So we rather use paper money than bitcoin currency.

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