Topic: Why is crypto is better then fiat? - page 2. (Read 656 times)

As i think, fiat is always better than crypto like btc. Fiat may controlled by government/banks but quite impossible to drop value 10% within a day   when it's possible to Manipulate btc and btc price could be drop anytime, even 10% within a day.

Well, it's kind of like, but it also means handing the power to everyone not minding who you are, whether you're rich or poor. That's why it's been said that there is likely to be a bad side to everything that happens. That's why you see today, there are people who make use of Bitcoin for a good purpose and there are also bad people that are taking advantage of the freedom given to them to do evil. Everyone is not the same, we have different purposes.

But the way I see things , cryptocurrencies are not really here to replace the first system. We are still going to have fiat and we are going to have cryptocurrency. It's just going to be as you are seeing it now, you will be able to make use of any one you want to make use of.

It looks like every currency can be manipulated by someone, and no wonder even on cryptocurrency. Whales are moving accordingly, we can actually ride with them and make money while on fiat money, only the government makes money on that and of course the corrupt banking system. Better to use fiat money for liquidity but when its comes to its value, I'd rather have more bitcoin and save it until we reach the moon again. 

There should not be comparison of the two just yet, fiat serve wider purpose than crypto both in banking and other business sector, there are lot of services that crypto can not provide which are very necessary in human existence, just because few merchants accept btc is not enough to start comparing the two,
Even now many people are complaining about high transaction fee, pending transactions and what have you, there are still many limitations in crypto that make this comparison not suitable.
Many people just get confused about the value of crypto and its every usage as a monetary means.

Exactly. There are already some establishments that are accepting crypto. But that's the point, just "some" and not "all". Many merchants are still using and accepting paper money as payment, most probably because of the price swings of crypto (bitcoin particularly)

Yeah. Unless crypto is the mostly used currency (or better yet, crypto is the only currency used) compared to paper money, then that will be the only time when we can decide that crypto is better than fiat. But we're not there yet, so let's just let the two currency do their parts and leave them be.

I do agree with the fiat but in terms of Bitcoin, I don't think so.

It is true that whales can manipulate the market, but I don't think they would be doing that all the time. The government is tasked to control the fiat for the greater good of the country, whales just owned a huge percentage of a cryptocurrency and are not tasked to control or manipulate. It is just that they hold the highest percentage and with their every movement the price can be affected.

Crypto and Fiat currencies have their own advantages and disadvantages. Crypto is better than fiat and cannot be justified, because it has different characteristics and regulations.
The crypto currency is not regulated by governments or anyone and is decentralized. There are no policies that are able to regulate and influence cryptocurrency. But the risk of cryptocurrency is also very large, such as price fluctuations, theft-prone, can be used as money laundering, etc. While the FIAT currency has been monitored by the competent authority so prices will remain stable and have minimal risk.

The continuous market participation of whales in crypto will actually be ruining the feature of the market. Tend to believe that we are totally a decentralized market but what whales wanting to manipulate the price it will also say that we are no longer to that form. I'm afraid that people will lose their confidence to see crypto is a decentralized one and then it can be likely the same as what it happens to FIAT where being controlled by the government. People have chosen cryptos especially for Bitcoin because of small txn fees and no taxes to pay unlike having FIAT money.

Hello everybody. I would not emphasize that crypto is better than ordinary government money. I would argue more that everything has value in this world and everything has its place. I think that most of us buy cryptocurrency in order to sell it later and get more money, which we usually spend in stores. While cryptocurrencies are accepted as payment, for a small amount of goods, in a very limited list of countries, unfortunately, cryptocurrency can only be talked about as a means of accumulation, as a possible, very profitable investment of fiat money. Here you can endlessly argue about the advantage of an asset. But, nevertheless, I can say that I leave a certain amount of ordinary money for the necessary expenses - food, clothes, housing charges. I invest the remainder after all these operations in cryptocurrency, because when the cryptocurrency basically starts to be a means of payment, and not a means of accumulation, it is from that time that the present time for cryptocurrency will begin. I would say that now is the "stone age" of the use of cryptocurrency, and maybe worse. All the advantages of cryptocurrency are already described above, but I would be happy to imagine if they are embodied in the financial world, at least half of their capabilities. All this is arguing too much with our world, where thieves-officials rule. Therefore, we only have to dream about those times when the crypto coins accumulated by us can be spent in a simple store, but even more we dream that at a couple of satoshis you can buy at least what you can buy for a couple of dollars now. I can wish all of us good luck in implementing our most crazy plans related to cryptocurrency.

Cryptocurrency will be more valuable than fiat especially bitcoin because it has a limited supply and decentralized. Unlike fiat that is controlled by the government and they keep printing as they want. There are rumors about USDT controlling the market, I also see some large transaction on USDT is being minted. Yeah those whales really influence the market they can pump and dump a certain coin. If that continues I guess it is not good for the crypto community the trust will decrease if markets are manipulated.

What the poster of the thread wrote isn't entirely wrong, we all believe in bitcoin and we have strong expectations that it will be the digital assets of the future but we can't also deny the fact that currently, bitcoin is being manipulated by certain individuals. The binance CEO trying to re-org stolen funds and justin sun freezing people assets means the current cryptocurrency sector isn't much different from FIAT. And talking about security, the hack and lost of funds we frequently experience on exchanges shows that the security of blockchain is kind of weaken and about efficiency, when ever there's a heavy usage on bitcoin network, we do have delayed and high cost transactions

The one reason why its better is just because i dont have anybody in control of my money and i dont have to take permission from anyone to spend my own  money

Fiat is not just controlled but watched as well, but through crypto it's just you who watches and knows everything about your finances and nobody else until you want to keep everything anonymous. It's better not to compare two completely different things where one is not-so-secure and can get hacked (yes, I'm talking about Fiat) even if your money is in a Bank and/or  if a Bank goes bankrupt or runs away with your money, or some top level borrowers declare themselves as bankrupt and Banks deny giving you your money back. Whereas crypto is a highly secured network where you are the sole owner of your coins and you are the only one who will be responsible for your own loss of coins if it ever happens.

Despite the world be it fiat or crypto, there's always a hierarchy where people at the apex to some extent controls what happens below them. Cryptocurrency is better because of its decentralized nature. Fast payment across the globe as well as no limitations to the numbers of transactions that can be done daily. Every fiat account has a daily limit to their transactions, with cryptocurrency its not so. I will choose cryptocurrency over fiat any day anytime.

I think control or uncontrolled fully depends on globally acceptance of crypto. Now there is no massive rules and regulations globally as its not fully accepted less some rules where crypto are accepted. So when maximum of country will accept it, sure that a global control body will launch and big whales then can not control the market. In crypto we are mainly can save our time and security that maximum time we saw weapons use to take away money.

thanks.

I don't if better is the right word (at least not yet)  but i can say that crypto has an edge over fiat in some aspects:-
Crypto gives you total control over your funds unlike fiat that have have some restrictions
Sending funds without the need for submitting personal information something fiat won't allow,
Holding crypto can also be profitable most times fiat don't give such profit just by holding it and the list goes on,
But only down side for crypto is that not generally accepted for now.

I assume by crypto you are referring specifically to Bitcoin. Yes, because it's the new generation of the currencies, Bitcoin's supply is completely  fixed and can't be changed while the banks can't easily print money with permission of the governments. But after all these the best think about Bitcoin is none know how much bitcoins I hold including government and we all know privacy matters. This is the mean reason I believe crypto is better than fiat.

I really don't think that any one of them will move to the other. I certainly believe that both fiat and crypto will co-exist in future.
Fiat is need to do physical transactions while crypto is good for online transactions.

I believe cash is needed since during times of internet shortage cash will be the best mode of payment since we won't be able to rely on the ISP for the online transactions.

-Governments can force everybody to use their money.
-They have monopoly control over money. While that’s not necessarily bad, it also eliminates competition. And, leaders have lots of incentives to use money systems for their own interests rather than the general welfare.
-With cryptocurrency, nobody can force you to use one or the other. Even the whales don’t have that kind of power. So, they have to compete with each other.
-so, the whales can manipulate bitcoin all they want. you have the freedom to use something else

Try with your government's money and see what happens

im just the same as you  . i also earn crypto then convert it to fiat and spend it or save some  . ill then spend using fiat but i make crypto as a form of money making business  .   if only all stores here accept crypto i wont need to convert them to fiat but no its not although they support credit card and government based online payment system  but we dont know yet on the future  if crypto are really popular  . that should be the time that we can say that cryptos is better than fiat