Topic: Why is Bitcoin better that fiat? - page 8. (Read 7968 times)
In a smart world, we need smarter money than an ordinary money. Bitcoin is a digital format whereas fiats lacks in this basic features. There are lot of better benefits over fiat, people to choose the best.
the best feature of bitcoin for me is decentralization. it is global and doesn't belong to any government so nobody can stop my money and i have total control.
on top of that bitcoin transactions offer the lowest transaction fees which is pretty awesome that i can send money practically free.
on top of that bitcoin transactions offer the lowest transaction fees which is pretty awesome that i can send money practically free.
if fiat its also a digital good it can be compared to btc and more advantages come to BTC buy and sell if stays secure and volumable.
The most significant advantage is its free of entry: Anyone can just buy a miner and start to mine bitcoin, but you can't just buy a printer and start to print fiat money 
Similarly, those blockchains that are privately created by governments, banks or enterprises will not have the free of entry property, so they are far less attractive than bitcoin
Free of entry also means that bitcoin will be continuously redistributed in future (in form of fee paid to future miners) to reduce the effect of early adopter wealth concentration, this is another superior property
Similarly, those blockchains that are privately created by governments, banks or enterprises will not have the free of entry property, so they are far less attractive than bitcoin
Free of entry also means that bitcoin will be continuously redistributed in future (in form of fee paid to future miners) to reduce the effect of early adopter wealth concentration, this is another superior property
The problem is it isn't actually free entry. There are associated costs - the miner will likely never/barely pay for itself meaning you are actually taking a loss or a very small profit which you could probably get in other investments. The reality is that Bitcoin isn't better at the moment - simply because there is less ability to use it in comparison to fiat. Sure you can convert it to fiat - but why bother have Bitcoin if you are just gonna convert it.
The most significant advantage is its free of entry: Anyone can just buy a miner and start to mine bitcoin, but you can't just buy a printer and start to print fiat money
Similarly, those blockchains that are privately created by governments, banks or enterprises will not have the free of entry property, so they are far less attractive than bitcoin
Free of entry also means that bitcoin will be continuously redistributed in future (in form of fee paid to future miners) to reduce the effect of early adopter wealth concentration, this is another superior property
Similarly, those blockchains that are privately created by governments, banks or enterprises will not have the free of entry property, so they are far less attractive than bitcoin
Free of entry also means that bitcoin will be continuously redistributed in future (in form of fee paid to future miners) to reduce the effect of early adopter wealth concentration, this is another superior property
First of all you can't use fiat for online shopping. Bitcoin is also much safer than fiat as it is much harder to get into someone's bitcoin account compared to stealing someone's wallet. On a more realistic hand, Fiat can be easily ripped whereas bitcoin is safely locked in your account.
uhm? fiat isn't only cash, fiat is principally electronic nowaday, and right now it still seems that there is more security in fiat than bitcoin, otherwise one cannot explain why the adoption is so low for bitcoin
security is one of the most important aspect, if you want bitcoin to grow
First of all you can't use fiat for online shopping. Bitcoin is also much safer than fiat as it is much harder to get into someone's bitcoin account compared to stealing someone's wallet. On a more realistic hand, Fiat can be easily ripped whereas bitcoin is safely locked in your account.
Yes you can. People are doing this daily, shopping online with Fiat using credit cards, Paypal and other payment methods!
First of all you can't use fiat for online shopping. Bitcoin is also much safer than fiat as it is much harder to get into someone's bitcoin account compared to stealing someone's wallet. On a more realistic hand, Fiat can be easily ripped whereas bitcoin is safely locked in your account.
i admit i like BTC but its to rise and to keep now into winter and to congregate more cause will be good to sell a bit into march 2016 like shares and like money too its money its not better than fiat its less controled by governemnts for now thats all
Yes but the fees will eventually start to be more expensive after halving right?
Fees are not gonna be bigger.Transactions fees are based on amount of data transaction is carrying. The only way they will be 'more expensive' is situation when bitcoin price will rise up significantly.
Other than that that nothing's gonna change.
Decentralized: No one can ever froze your money.
I don't like the controls...as in fiat's
I think its a bit funny bitcoin rates as durable as gold, hard to compare really and gold is not easily transactable so I cant just walk into a jewellers and pawn off the gold because it seems thats possible in most parts of the world. I dont quite get the logic that btc is easy because you just use an exchange but I wouldnt just do a similar trade with gold
just because it is namedd BITCOIN.
Yes but the fees will eventually start to be more expensive after halving right?
it would not matter, they would still be very cheap(right now they are like 0.025 even if you do it x100, it would still be very affordable
and anyway if i want to wait more and pay the saame old fee i can do it, that's the beauty of bitcoin complet freedom
their are lot of reasons and clarifications about bitcoin is better then fiat, now when we know about bitcoin and it uses, we feel that fiat using is so costly, what it was told before is correct for gold and fiat it took so long time, they have been in existence from century so bitcoin will also take time to get implimented in real life. but their is a future where we can see bitcoin take over to all country currencies
Yes but the fees will eventually start to be more expensive after halving right?
What the fees cost is mostly depending on the free space in blocks. The competition is directly price vs available space, so to get a raise in fees collected, you need to see a raise in satoshi/kB bounty.
To do that either you lower the available space or you raise the number of transactions fighting to get included in a block.
Yes but the fees will eventually start to be more expensive after halving right?
bitcoin is better than fiat because because sending big transactions online doesnt cost you big fees like 1% or something
exactly, try transferring huge amount of Fiat , especially abroad, and see how is difficult and how much you got raped on the fees.
"I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party."
http://satoshi.nakamotoinstitute.org/emails/cryptography/1/
http://satoshi.nakamotoinstitute.org/emails/cryptography/1/
may be easy in the deal, because it does not need to be
things that are not important as verification just as paypal
things that are not important as verification just as paypal
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