Topic: Why is crypto is better then fiat? (Read 599 times)
I think the two have two values. Not all people in the world know about crypto. There is also a need to use the money recognized by the government bank of the country in which it is located. Of course, all the people involved in the crypto world must think that crypto is better than fiat in their work. But equally, both are necessary.
The only advantage of crypto is they cannot be manipulated by the governments instead the governments are having a hard time taking it over from the investors. Right now, all they can do is regulating it but they put some huge tax on the centralized exchanges and they also put some rules that will allow them to track who holds the big amount of crypto in some of the exchanges. by implementing the KYC rules when you trade a large number of coins. In this case, those who don't know how to hide their real amount of BTC cannot hide from the governments rather they are forced to tell them the truth where they got those large numbers of coins. Like for example in our Local exchanges where your coins will be held until you tell them where you get those coins.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
Such thing the reason why crypto wouldn't be better than fiat until it will fade. Aside from this the world isn't yet ready to embrace it not even after the revelation of its advantages over fiat.
In my opinion, fiat money and cryptocurrencies have their advantages and limitations; fiat money is controlled by governments and central banks, cryptocurrencies are basically decentralized,
i think both can be the same . there are also decentralized based/type of fiat ( the ones that arent created by govt or bank ) but some of them can be exchange or used to for purchase while there are also centralized typed of cryptocurrencies . Many people believe that fiat money is more popular than Bitcoin. However, both currencies are uncertain in the future. Where to invest is your own choice.
ofc its obvious that fiat are popular because it existed along time ago . fiat money's future is certain but btc i dunno yet but btc can be a good investment choice . fiat is not an investment but it was good for payment use mostly although you can hold and save your fiat to grow it
In my opinion, fiat money and cryptocurrencies have their advantages and limitations; fiat money is controlled by governments and central banks, cryptocurrencies are basically decentralized, mainly due to a technical ledger. Distributed digital is called Blockchain. Many people believe that fiat money is more popular than Bitcoin. However, both currencies are uncertain in the future. Where to invest is your own choice.
Manipulations between fiat currency and cryptocurrency has different objective.
Fiat currency is being manipulated to balance the economic stability of such country. Government is obviously manipulating it as they're the ones who are issuing it, and has the full control over it.
While, cryptocurrency has no central authority that controls the productivity and it's value. The price depends on the market sentiments, speculations, and other form/tools to anticipate the crypto market movements. The whales has no control over the price, they can somehow manipulate using their wealth, but will never a guarantee to hit the specific price range they desired.
Fiat currency is being manipulated to balance the economic stability of such country. Government is obviously manipulating it as they're the ones who are issuing it, and has the full control over it.
While, cryptocurrency has no central authority that controls the productivity and it's value. The price depends on the market sentiments, speculations, and other form/tools to anticipate the crypto market movements. The whales has no control over the price, they can somehow manipulate using their wealth, but will never a guarantee to hit the specific price range they desired.
Right now crypto or online payments are being better than Fiat because of the fast transaction and free from virus,
We could send crypto to anyone we like and it wouldn't matter where they are and we don't need to go out just to do it.
The best part is if crypto is being accepted as payment method around you, You wouldn't need to get close to anyone just to pay.
We could send crypto to anyone we like and it wouldn't matter where they are and we don't need to go out just to do it.
The best part is if crypto is being accepted as payment method around you, You wouldn't need to get close to anyone just to pay.
This depends on the place you are living through.
Not all of the countries widely accept Bitcoin like your country. Another thing is that there are a lot of other payment methods people are using, here in our country we have Paypal, Paymaya and other mobile apps. We can use Bitcoin though but through an exchange where BTC is being converted to fiat, in terms of Bitcoin is better than fiat, in the end we are still using Fiat.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
Both fiat and crypto have their own benefits towards the users of it.Yes we know that fiat is being manipulated by the central banks for a long time already but we can't do anything about it because all of the establishments right now are accepting fiat as a mode of payment. There is nothing we can do but to continue to use it. It will just depend on how the user uses fiat currency.
With regards to crypto, yes it is heavily manipulated right now too by the whales but as the total market cap of crypto market increases the chances of it being manipulated will slowly decrease too as the coin will be distributed to more investors.
Overall, both are manipulated right now for me and I can't answer that question as they have both pros and cons.
Not to be biased on one side here but I think there are allot of difference between crypto and fiat. There are also allot of characteristic that crypto has which fiat hasn't and vise versa. One example is the system, the system of crypto is more likely decentralized and fiat is run by government. With this, we can infer a huge impact to the financial system in our society already. I highly think that crypto alone will not make our society better, I accept that crypto supports the fiat and a currency that is alternative to it. But making people completely ignore fiats for the sake of crypto for me isn't that nice, as I believe fiat will be better in terms of economic control by government through running taxes for buildings, infrastructures, and various projects.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
The thing with some people is that they are fond of comparing everything they lay their eyes on. I don’t really have that time, whether it’s cryptocurrency or fiat, I make use of any one I want to make use of and I don’t see any problem in it. I don’t see anyone of them as being better than the other, but I do know that they both has ways that they are better than the other.Cryptocurrency is good, because it’s kind of anonymous and allows us the freedom and access to a lot of things we wouldn’t get while making use of the fiat. In very near future, we can expect at least 40% of world population might be using cryptocurrencies because we are already seeing lots of people started making use of online payments in their mobile phones.
I am surprised when I hear that bitcoin is better than fiat. By fiat, we most often understand the dollar. Because in the blockchain industry, bitcoin plays a role similar to the dollar in the global financial system.
But ... The dollar is an abstraction. The dollar remains the dollar in any payment system, platform, application. Bitcoin is both a coin and an “ecosystem.”
Any system (ecosystem) has its own cycle of development and extinction. That is, the time comes when its modernization is no longer possible and it is necessary to follow other principles and create something from scratch.
For fiat, dollar or other possible prospective unit of calculation, this is not permissible. Therefore they are an abstraction. The principles of their treatment and methods of transmission may change, but not the essence.
But ... The dollar is an abstraction. The dollar remains the dollar in any payment system, platform, application. Bitcoin is both a coin and an “ecosystem.”
Any system (ecosystem) has its own cycle of development and extinction. That is, the time comes when its modernization is no longer possible and it is necessary to follow other principles and create something from scratch.
For fiat, dollar or other possible prospective unit of calculation, this is not permissible. Therefore they are an abstraction. The principles of their treatment and methods of transmission may change, but not the essence.
Right now crypto or online payments are being better than Fiat because of the fast transaction and free from virus,
We could send crypto to anyone we like and it wouldn't matter where they are and we don't need to go out just to do it.
The best part is if crypto is being accepted as payment method around you, You wouldn't need to get close to anyone just to pay.
We could send crypto to anyone we like and it wouldn't matter where they are and we don't need to go out just to do it.
The best part is if crypto is being accepted as payment method around you, You wouldn't need to get close to anyone just to pay.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
Let's think more openly and read more about economics. The government "manipulates" national finance for the stability of the country's economy, it is for your welfare as citizens, so please stop saying things that are not quite right as if the government is "using power" only. The crypto market is also not completely controlled by whales, ah this is quite complicated but big waves can form from the accumulation of small waves, right?Cryptocurrency and national currency both have advantages, we should use both of them well to get the maximum profit. National currency with legal laws, a cryptocurrency with high-value investment and trade opportunities. So, just take advantage of both without having to get rid of one of them.
Absolutely agree with your point here.
I don't compare crypto and fiat as they are serving different purposes for me.
Right now, I don't think even if you are an ardent supporter of crypto, you still need your fiat in some of your needs.
So don't disregard your fiat as it is still significant in your daily living, no matter what kind of transaction it is.
Just optimize the benefits that you can get from using these both. And be grateful that Satoshi created bitcoin.
Of course cryptocurrency is better than fiat, because besides we have control of our own finances. Our privacy can awake, because using
crypto doesn't need our personal documents. With cryptocurrency you can do transactions anonymously. It is true that whales can manipulate
crypto prices, but whales cannot control crypto as a whole. Different from fiat which is controlled entirely by the government. Only cryptocurrency
can protect our privacy and also provide freedom to control our own finances.
crypto doesn't need our personal documents. With cryptocurrency you can do transactions anonymously. It is true that whales can manipulate
crypto prices, but whales cannot control crypto as a whole. Different from fiat which is controlled entirely by the government. Only cryptocurrency
can protect our privacy and also provide freedom to control our own finances.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
Let's think more openly and read more about economics. The government "manipulates" national finance for the stability of the country's economy, it is for your welfare as citizens, so please stop saying things that are not quite right as if the government is "using power" only. The crypto market is also not completely controlled by whales, ah this is quite complicated but big waves can form from the accumulation of small waves, right?Cryptocurrency and national currency both have advantages, we should use both of them well to get the maximum profit. National currency with legal laws, a cryptocurrency with high-value investment and trade opportunities. So, just take advantage of both without having to get rid of one of them.
If you become a whale by buying Bitcoin then you can as well become a whale holding company shares and manipulating the position of that company on the market.
Years ago people believed that there are groups who got bitcoin almost for free nad those groups are now manipulating the market but it's clear that the people who had Bitcoin in 2010 sold it or are still holding. Those who are manipulating the market sim ply bought it over the years and the same thing could happen to you on any other market.
Whales are in every stock!
Years ago people believed that there are groups who got bitcoin almost for free nad those groups are now manipulating the market but it's clear that the people who had Bitcoin in 2010 sold it or are still holding. Those who are manipulating the market sim ply bought it over the years and the same thing could happen to you on any other market.
Whales are in every stock!
I think you don't have to be a whale to have crypto and transact, in crypto we have control of ourselves and not third parties, there is enough freedom to manage the desired funds, Fiat always has and will have many limitations, with large sums of money They mostly block funds to find out the origin of it, one of Crypto's main reasons about fiat is that with Crypto you have complete control of money.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
Cryptocurrencies are resistant to manipulation, therefore they are not subject to inflation, i.e. no government will eat your property through this tax (let's call it a spade name), which introduces to destroy private capital.
It is worth noting that fiat currencies, due to the fact that they have no coverage in gold or have nothing to do with mysterious algorithms, can be reprinted to power, and also have a chance to go bankrupt. Paradoxically, they turn out to be more virtual than cryptocurrencies! Example? During the crisis in Cyprus there were those who lost their savings kept in banks!
Cryptocurrency is better than fiat because it can be used to transact from here to there. Just use a smartphone to buy anything from anywhere in the world. Secondly, you don't have to pay government VAT and everything can be done confidentially and on your own. This is a complete owners' control.
Fiat is manipulated by governments/banks to control & have power. Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?
But still you have got the power in your hands at least. Also crypto is borderless and is anonymous as no one knows who is holding their funds in which wallet and also it is quiet the opposite of banks where you have to complete the KYC for depositing and withdrawing your money and also to open an account in the bank. A bad decision from a government makes the fiat loose its value but in the crypto space the whales aren't having that much impact on the price of the coin as when they sell they create a minor dump and then the price recovers after sometime. Jump to: