Why I would rather have paper money then Bitcoin - page 14.

jseverson

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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.

At the moment is the key phrase. If I wanted to use something as a currency right now, which is what OP seems to want to do, I'd choose fiat in a heartbeat too. We have to admit that Bitcoin is under a crisis right now with the ridiculously high fees. It's barely usable, again, at the moment.

Majority of people here are either in it for investments or the technology though, in which case, the fees aren't a big deal. You don't have to pay a fee to HODL after all. That's unfortunately pretty much all Bitcoin is good for at the moment, at least until we get significant Segwit adoption and the Lightning Network.

Red-Apple

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it is a surprised to everyone because you are saying "have" paper money. but the follow up doesn't make sense to it.

we all rather "have" bitcoin and more of it. at least those of us who understand what bitcoin is. but we all rather "use" fiat at the moment because of the costs of spending bitcoin.
and lets be honest here, how much have you been spending bitcoin last month that fees were low or all the 8 years before it that fees were low?

Don Pedro Dinero

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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.

pentol86

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since bitcoin transaction fees too high for some users, i think use fiat is the best choice, except you need transaction and only bitcoin that allowed. and about risk, bitcoin is digital money with high risk, but also at same times you can earn profit for passive income if bitcoin price grows up.

superjeyy

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Bitcoin is for risk takers. I do understand your side where you would rather use fiat than Bitcoin due to the enormous fees asked for its transaction when fiat requires none to minimal amount. Here in the Philippines, cryptocurrency is a new aspect many are still learning amd for that only a few people owns it and even use it for transaction. It's value is not much of importance compared to fiat as we can only use it over the internet. The fact that fiat is more accessible to everyone and is widely accepted is a big factor against Bitcoin which is why more people would rather use it. One day, people would appreciate the structure of Bitcoin and see its worth. For now it is a good investment but in terms of usage I would have to agree and favor fiat more.

elie_s

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Of course u would rather have paper money it's much safer
But bitcoin it riskier and what is riskier will let u make more money

Btcjunpitz18

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Quote from: dongosquad on January 05, 2018, 04:35:47 AM

It all depends on your needs, if you prefer the fiat and is enough to meet your needs, then no problem. However, you missed the opportunity to get a lot of benefits from cryptocurrency, either with investment, trading, etc.
If what you are concerned about is a large transaction fee, then I can only explain that the bitcoin and other cryptocurrencies are not suitable for micro-payment. Look at other more profitable functions, cryptocurrency is not just for payment.

It is more convenient to have paper money because it is legally accepted then bitcoin must be cash out first.

dongosquad

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It all depends on your needs, if you prefer the fiat and is enough to meet your needs, then no problem. However, you missed the opportunity to get a lot of benefits from cryptocurrency, either with investment, trading, etc.
If what you are concerned about is a large transaction fee, then I can only explain that the bitcoin and other cryptocurrencies are not suitable for micro-payment. Look at other more profitable functions, cryptocurrency is not just for payment.

tegarp90

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but there is the benefits of saving bitcoin rather than fiat. Goverment can't take a tax from cryptocurrencies money cause they can't locate it

Rules85

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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.

However, the French currency will not appreciate, and I will choose to invest in the cryptocurrency when my living expenses are adequate, because I can make more money by investing.

spngebob

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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.

Wait for lighting network and wait for more stores to accept bitcoins, there isn't much more to say, but I know how frustrating is to have bitcoins and not able to use it and spend it for daily needs. I would like to go to store and pay with bitcoins I hope this will be possible one day.

arteezyy

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In terms of transactions, fiat money is really the better choice. It is really nice that bitcoin transactions are untracable and the users are being anonymous but its transaction fees are really expensive. And also fiat money is really flexible in almost all transactions.

btcprospecter

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Fiat is our easiest form of currency it has been in place for a long time and there is nothing difficult about using it. Bitcoin on the other hand does have a learning curve for new people to understand with keys and understanding of it price volatilities. Transaction fees are an issue that can be resolved.

_Mikasa_

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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

maxamus

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Quote from: SyamSoedin on January 04, 2018, 03:15:55 AM

Bitcoin has a fluctuating value, it will grow up and sometime it will crush your money.

Not into bitcoin but let it be any crypto currency the uniqueness about crypto currency is fluctuating value which we can utilize it for our benefit by cashing in during dump and cashing out after a pump to increase the return on investment and I don't think anyone who is using bitcoin for a long time has suffered huge loss but again it's not for everyone at the moment if you are investing then it should be an investment of time and money so that you are actually aware of market situation to make the right move.

Pursuer

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Where is my ring of blades...

you went too far in my opinion.
the only characteristic that is missing from bitcoin, and only for a month or two! is low fees. there are lots of other characteristics such as being decentralized which are still intact. so saying "I prefer fiat over bitcoin just because fees are high" is going too far.

and we are all aware of the problems. this is a decentralized network we are using so "we" are responsible for how it is going to be like. right now the accepted scaling solution is SegWit and all the things that will come after it but it is not yet adopted. "we" need to force the services to adopt it anyways we can. for example if you are using Coinbase or blockchain.info start sending them emails requesting to add support for SegWit and if they refused we MUST stop using them.

kevoh

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Well, using bitcoin or FIAT money is all a matter of choice and preference. If you found yourself in a scenario where using Bitcoin or any other cryptocurrency is unavoidable, you will not even remember that the transaction fees are high before making payments.

Grayy

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Quote from: SyamSoedin on January 04, 2018, 03:15:55 AM

Bitcoin has a fluctuating value, it will grow up and sometime it will crush your money.

When you're patient enough BTC will never crash your money. You should study the markets and know when to enter the markets and when not to enter the markets. Window of opportunity is key in the BTC business.

OmegaStarScream

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So you think that someone could just create a currency and make the world use it in a few years? It doesn't work that way and It takes time. Instead of having the community learning more about bitcoin and doing tests in projects like LN etc. all they do is complaining about fees and comparing bitcoin to something it.

SyamSoedin

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Bitcoin has a fluctuating value, it will grow up and sometime it will crush your money.

Topic: Why I would rather have paper money then Bitcoin - page 14. (Read 1349 times)