Bitcoin Forum

Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country, so from my research I find out that government just disliked cryptocurrency for nothing,
So differentiating fiat from bitcoin is valueless because irrespective the importance and massive adoption of fiat currency from  its existence before cryptocurrency, it's obvious that fiat is money and bitcoin is money, their functions and contribution in society never depart from each other, so bitcoin now is the shortest way of transactions across the world without much process or procedures, using bitcoin everything buyable is easier to purchase without stress, so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.

Fiat currency and cryptocurrency are different. You only see the same function of the two. Compared with cryptocurrency, it is even more advantageous. It is only in a shorter period of time. But you ignore that the legal currency is managed and controlled by the government. Currency is not good. This alone determines that cryptocurrency cannot replace legal tender in the short term.

in other words the two are inseparable, and indeed the fact is that fiat and cryptocurrency go hand in hand with each other. as for the same function and some are different. I think that's fair enough.
real money and digital money (to put it simply).

for me the two must stay together and cannot be allowed to clash.

Their function is same. Their use is "similar". Both are modes of payment.

Fiat was there since a long time. Before it gold and silver were there. Whatever is the majority source of value has been adopted by governments.

Your research? Governments are not individuals with subjective minds to "dislike" something. They are long term thinkers who run a country and a democracy in most cases. You might have some opinion but people who run the government are not short term thinkers. They might accept crypto for use with time. Unless you go into their shoes you cant comment based only on your disdain and still be correct.

That is fine, but that is not applicable to everyone in the world yet. Someone might have a lot of bitcoin but nowhere to spend it because no merchant in their country is accepting it or knowing about it.

Both acceptance and usage needs to be there to allow a free usage. I still see shops owners getting extremely irritated when I cant hand out cash and ask for online/digital payment options (<in fiat of course) - how do you expect them to move on to bitcoin as a major source of payment?

Fiat and crypto currencies are the same? No they are not. Not sure how you even came to this conclusion. The fiat system has so many issues that some of the cryptocurrencies can solve. And there are reasons why the government don't like "decentralized" crypto currencies. First of all, they will have no power over it. Secondly, they are concerned that usage of crypto currencies might lead to more easy illegal activities.
Maybe differentiating might be better? People will know the advantage of it over crypto currencies.

Fiat currency and cryptocurrency is part of the market before I just know about the fiat currency and the stock exchange upon exploding I discover the use and benefits of the cryptocurrency and until now I likely knowledgeable about this coin and especially the bitcoin I'm not saying I know everything just having information.

Cryptocurrency and fiat currency has a different aspect, purpose, benefits and more which people would like to it depends on you how does it work and how to use it.

These governments didn't dislike cryptocurrency for nothing, of course anything that is decentralised is against the government's intentions to control the population in general.
Bitcoin as the leading and the most popular cryptocurrency has still difficulties in scalability and transaction fees. So, in terms of usage not everyone is well aware of how to spend their Btc without paying too much for the transaction fees. 
While fiat has been traditionally being used and the most convenient means for the payment system. Though Bitcoin has still a lot room to improve so it can be as convenient as the fiat currency in the future.

Disagree with you completely.

Although both of their motives maybe same, fiat and crypto is just totally different in every fundamental way! Fiat is regulated, printed, monitored, and is backed up by government's trust while Bitcoin is decentralized, and completely unregulated. The governments are anti-crypto may have different reasons but one might be common which is fundamentally governments love to control and since Bitcoin is decentralized, they don't like that :P

There are some pros and cons that we should know why the government prefers fiat over crypto, at least for now. in this sense I believe that crypto is much better implemented in a complex financial system. Even so, the government prefers fiat because they have a form, they can be controlled (relevant to the government system) and fiat also has clear regulations. once again, for now even traditional investors are still dependent on bank transactions that can actually be simplified with crypto. maybe this is because the current government system is not familiar enough and maybe not quite compatible with crypto, so the government prefers fiat and will probably continue to choose fiat even though there are better solutions, because their system from the start is different and not suitable to be implemented in the current government system. cmiiw

How you made a post and classify fiat and cryptocurrency to be the same and no difference? No, they are not same completely and if they are not same completely, then they are different but doing same purpose. This same purpose that both perform is what relate them together.
They do the purpose with different models and have different make up. Fiat is physical money stored in a bank or personally in the house and with the state being its custodian but your bitcoin is controlled by you in your wallet, isn't it  ;D

These are different entities. Whatever it was - but fiat money is provided with real products, resources, services. In the production of cryptocurrency, in the "best case", the cost is formed at the expense of the cost of electricity consumed in the process of mining + equipment. But the electricity used can no longer be recycled, and mining equipment has a rapidly falling cost. At the same time, fiat funds can be additionally issued into the economy, if necessary, and cryptocurrencies are finite in their volume. As a minimum, because of these differences, it is not correct to compare these systems.

We may see it as the same in terms of usage but fiat is very different from bitcoin. Even though bitcoin and fiat has a connection to each other, bitcoin is far more better than it in terms of its value. Fiat might have existed way more earlier than bitcoin, the dominance of bitcoin is still getting better as time passes by. In differs on the regulation too, fiat is regulated by the government while bitcoin is a decentralized currency. That's what bitcoin is better that fiat, because there are no organization that holds its regulation unlike in fiat.

Unending topic I guess.
People will be continuously confused of these two even if the idea is that simple. Cryptocurrency is decentralized while fiat is regulated by the government. Fist is has a physical form while cryptocurrency falls in line with other digital currency. But the idea which makes this confusing I guess is to how cryptocurrency is being used. Cryptos are also a profitable investment given that its market value is volatile and changes could create profit from holding and selling at high market prices. Also some cryptos are having continuous increase for a long run.

I do not think that the government **disliked them for nothing**
I do think that the government did realize that cryptocurrencies like bitcoins will give people freedom and with freedom people will have more power and equal distribution and all the governments in the world even despite being democratic doesn't want something like that to happen. This is actually something that they fear would not only increase
*Illegal activities*
But at the same time would also :
*Make fiat weaker*
Some go as far as saying how it's something that chinese made and now if it continues would give our information to China etc.. but other than that it's quite a normal topic that have been discussed since forever.

See as a local transaction I do not think it works , but at the end of the day if you are doing overseas transactions it would be quite a good deal. It does not only less fee but also more credible to be honest as compared to banks.

Fiat and cryptocurrency are different in many ways, principally by the way they operate.

Handle your grandpa 100 000 satoshis and tell him to buy some bread and butter with them :)

We can't mention fiat and cryptocurrency are same but both are using as payment. A lot of people are still unaware of crypto currency and some government are not adopting it. But in future, people will select crypto currency than fiat currency.

They are not the same. Cryptocurrencies are controlled by protocol , fiat currencies are controlled by current government. Even if you have super duper government that made succinct in your country budged in past years you have no ideas what government you will have few years from now. They print money for that and that creates inflation.  They create money for all kind of things. Not just for fighting pandemic as they did last and this year. Bailing out bankers and wealthy people. All that is paid by fiat currency users through inflation.

The fact is that fiat has never been good hedge against inflation but bitcoin has play a big role in defining that. There is an ideal and real situation in cryptocurrencies and fiat system. In Fiat, in my own understanding, this is the best that can work for a standard economy but that shouldn't be the only thing everyone can hope own but bitcoin has over perfomed that many occasions as hedge against inflation.
Though in reality, fiat is needed for liquidity and I don't think any sane government wouldn't want to hold bitcoin as a medium of exchange except they want to crash their economy.

They are the same in terms of being used as payment but they still have a lot of differences like being volatile and as well as being inflationary and deflationary.

The first reason why they dislike it is that because there's no central authority that can control it. Except those coins that are centralized and can easily be controlled but many of them can't be controlled even by the government. One perfect example is bitcoin.

We're already there that we like bitcoin and we're all in on it. But we can't also deny that its entire adoption, many places on Earth still don't understand and adopted it yet. If someone differentiates and compares bitcoin to fiat, there's nothing wrong with that if they believe in fiat or they believe in bitcoin. Both has their purpose and even today, in my neighborhood, I get to buy things mostly in cash but I also enjoy buying things with bitcoin but only online.

As someone in the crypto world you can't really same crypto and fiat as the same, the whole point of crypto is the fact that it is much better than fiat and that is why we are here and not purely on fiat, if I believed they were the same thing I wouldn't really worry about here and would go ahead and live my life in the fiat world that already exists and easier to live, but I believe they are different and crypto is much better.

First of all decentralization is the biggest proof you will ever need when it comes to showing why crypto is better, we are talking about crypto which would be awesome and that is why I believe if we can have decentralization in fiat one day that would work but it is impossible since the centralization is what makes governments powerful and the moment crypto gets bigger and they can't control our money anymore that means we are in charge and governments are just our workers that's it.

It could be the same as using .I think the different is Fiat are using as cash and hand to hand on the other hand digital currency are using like same but without being cash .It is much secure than Fiat that's why the world turn into it and the crypto currency are become popular than past .

I am also starting to change the way I use my money, not using cash but instead looking for cryptocurrencies. But this is still limited as it is not of much support in my current life either. Maybe in the time to come when the policy of using cryptocurrency is easier, I believe we will know anti-cash.

I'm afraid you are very wrong. Cryptocurrencies and fiat currency are completely different and the main difference is that fiats are centralized and therefore controlled by the issuer. Cryptocurrencies, on the other hand, are decentralized, so they are not controlled by a single person.

In my confesses, fiat and cryptocurrency is almost same in nature but huge differences in purposes or characteristics. Because fiat is physical money that is monitored by government and its usage is very much habitual for the whole world people. In the other way, crypto or digital currency is online based money that can't be touched and it's value is volatile and it is risky money also. Because the authority can't make it perfect or scam free yet. There are many limitations and lacking of management available in cryptocurrency so if this problem solved in future then it will be better in use for the generation.

The thing with crypto currency is that in 90% of the time they are superior to the old fiat currency. It would be best for all of us to switch to cryptos and don't use FIAT anymore, however if the country goes into a crisis it might be more difficult. If there are problems with the Internet, electricity or food supply it could happen that merchants prefer real cash the can hold in their hand. Physical money however has on the value the central bank is guaranteeing.

I doubt that cryptocurrencies are having that much of an advantage over fiat currencies knowing the differences each of these currencies possess. In terms of support from different countries and governments, fiat has the advantage as well as a  medium being used in daily transactions. It is also having less volatile market price which makes it not surprising to know that it is more supported since it is not having that much of a risk as a mode of payment. Cryptos on the other hand are also profitable while decentralized, avoiding taxation and promoting faster transactions at the same time.

We humans are more prone to the phrase to see is to believe. We have relied on our eyes for millions of years and that's why it has become our most trusted organ. That being said, there are distinct differences between cryptocurrencies and fiat that may steer the common joe towards fiat, number one would be stability, another is tangibility, these two are the greatest factors in determining which are more valuable between the two for most people.

Cryptocurrencies can have a lot of advantages in use for citizens, but when it comes to the benefits for the state, not everything already looks so clear. We can say even more that modern cryptocurrencies are not suitable for state use by 90%, just as you put it, from monetary policy to potential dependence on developers. Therefore, it is not for nothing that states are discussing and developing their own cryptocurrencies, and we hope that in an effort to provide their developments with the most-favored-nation regime, states will not embark on the path of strong restrictions or even a total ban on other cryptocurrencies.

Fiat currency is a mandatory currency issued by the government.Cryptocurrency is a decentralized currency, but it is defined as a commodity by the government. Cryptocurrency can be purchased on exchanges such as currency exchange.

As more and more companies use cryptocurrency instead of traditional financial technology, you will have some cryptocurrencies, each with its own role and function, as well as government funds.

The government doesn't like crypto for nothing. People switch from fiat to crypto for convenience, financial freedom, decentralization, and so on. The government has no control over crypto, they govern banks that steal time and money from people.  Crypto eliminated third party such as banks who collect fees for every transaction or transfer people do, which may take a few days to complete, not to mention the paper works that have to be done.

What you say is the same as Gold, where society needs gold and fiat, they are both always connected to each other.

I think Bitcoin is fiat and fiat is Bitcoin, which is different how to use Bitcoin online and physically fiat, you can say the difference is physical and online, but the use is the same, the function is the same, currency.
It's just Bitcoin digital currency and fiat paper currency.

To conclude: I think Bitcoin is like gold which can be traded online to be exchanged for fiat money, meaning: fiat dependence on Bitcoin and Bitcoin dependence on fiat, both of which are equally needed in today's society.

The point: in my opinion Bitcoin cannot be eliminated by the government, although, there are governments that do not admit it, Bitcoin is intangible, physical, real, like gold.

You got it all wrong... your research is bad! Fiat currencies are not adopted, they are created and governed by governments! There are different cryptocurrencies, they are created on blockchain technology, and they are regulated by math! Try to run another research, maybe you need to change your approach!


These lines are confusing... I see the point, but even here you are wrong about some things. Bitcoin and alts have value, and you can use them to buy many things... sometimes you will need to exchange them for some fiat first, pay some fees... but the bottom line is that you can spend your crypto on anything you want! And now it's a lot easier to that than 5 years ago, adoption is ongoing and will not end anytime soon in my opinion!

It's not my line, but I agree with "crypto is just a next generation of money"... There were things before gold and silver coins, coins then evolved into banknotes around 1661 AD. The first credit card was introduced in 1946. And after 2010 we have crypto! Here is one interesting article about that:
The history of money: from barter to bitcoin - https://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-of-money-from-barter-to-bitcoin.html#:~:text=The%20first%20known%20currency%20was,card%20was%20introduced%20in%201946. (https://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-of-money-from-barter-to-bitcoin.html#:~:text=The%20first%20known%20currency%20was,card%20was%20introduced%20in%201946.)

You are wrong in so many ways op. I understand that you are a supporter of BTC and other cryptocurrencies in general just like me, but you need to face the reality. FIAT will always be superior when compared to cryptocurrencies for a wide variety of reasons.

The biggest reason is the stability and volatility factor. Other reasons include TX times, TX fees, learning curve etc. Cryptocurrencies were never meant to replace FIAT. Instead, they should be viewed as alternate payment methods.

Everyone is reacting bitterly, we have to know that the difference between fiat and cryptocurrency is not much, the only difference is that.

* Fiat currency is been controlled by the government and is centralized platform due to is under government regulations through banking system.

* cryptocurrency is a decentralized currency which is obvious that government don't have affairs to cryptocurrency or neither have any impact for its price regulations because its a digital asset.

So the only aspect I wants us to understand is that nothing fiat currency can purchase and crytocurrency can't purchased, so comparing it in terms of expenses fiat and cryptocurrency are the same, just forget about the centralisation aspect of fiat and decentralisation aspect of crypto. Their all useful in all ramifications.

That is the level we are right now, "if everything goes according to plan" for crypto it will definitely be the best one, however there is nothing we can talk about that means we are going to end up with the best possible situation unfortunately, we are talking about crypto here and not everything goes according to plan most of the time, in fact very little thing goes according to plan and that is why I think it is quite difficult to end up with everything going according to plan.

Like for example we are in a great crypto bull run right? price went from 7k at the start of 2020 to as much as 41k but still at around 34k or so levels? That is awesome right? Well what happened? The blockchain got clogged and now we are talking about literally 10+ fee's on 1 hour waiting. Obviously there are many things we need to tweak but if we can do that, we are going to end up a lot better.

Everyone has their own perspective on bitcoin or fiat, and each country has their own perspective. And they judge bitcoin only from the negative side. Of course the government will prefer fiat currency because the country's currency doesn't want to be replaced by crypto. maybe

You may be right about that but can fiat become an investment asset like how we fantasize the bull run and bear trend? Yes, cryptocurrency can be used for buying something everywhere the same how we use fiat but it's only possible because there are merchants who accepts cryptocurrency as a means of payment but without them it's a little hard to buy something and not everything can be bought with cryptocurrency though. So their differences are not that so close since almost everyone is not yet familiar with the crypto currency and the adoption of it just begun.

There are few other things that could be added into this but this is the main thing. However this is not a small thing neither, we have to realize that this is actually a quite good deal and we should be happy about it. Think about it this way, governments are regular people, they are not another species, which means they have motives and agendas, this causes money to be something very important in the world of politics since they would act depending on whatever makes them richer, and that is why I have to point out that we are in a situation where we have to realize crypto gives us freedom from it.

There are no people controlling it, which means whatever bitcoin is today, will be the same decades later, and that type of power is nowhere to be found in any other currency. This is not just a small difference, this is a whole ideological change that we need.

Bitcoin and currency are very different. Although the functions of both can be traded as general equivalents, the value of legal currency is given by the government, while the value of Bitcoin is based on the technology of blockchain , The two are fundamentally different.

Actually fiat and cryptocurrency are both currencies that have almost the same function, but cryptocurrency is a decentralized currency  becomes
difficult for the government to accept. So we will find several countries prohibiting the use of cryptocurrency, because some countries are quite afraid
that fiat will be replaced by cryptocurrency. Therefore, in the end, many countries only accept crypto as a digital asset, without being able to be used
for payment. Hopefully in the future the government can change its mind and accept crypto as payment too. So fiat and cryptocurrency can go hand
in hand.

In long term though it can be possible.
Cryptocurrency legalization is a matter of time, you can already see the difference compared to early 2020

Both are currencies, but for me, there are some notable differences. To make it easy today, fiat money is money supported by the country and its government. So money is controlled by the laws and legislation. Crypto-currencies are supported by their investors and companies that want to receive payments in crypto. It is not legal tender and it is not backed by a central government or bank (it is decentralized and global).

^ This is the difference between these two currencies, the decentralized and the centralized nature of currency which is the fiat currency is centralized and fully controlled by the government. They are not the same as a currency but nevertheless, they had the same valuable assets. Probably legalization of BTC is on the way from time to time and it takes time before that will happen and the word decentralized will probably turn to centralized. However, some countries can tax the BTC users, not directly to BTC itself. And that is a good way to adopt BTC in most countries.

maybe the government considers BTC as an investment , it will be difficult to make BTC a currency because its value is not as stable. most people make it as an investment. if the government imposes a tax on every btc user of course it will be a separate advantage, that is very good

Yeah it's really obvious that know one controls cryptocurrency and its a decentralized currency and it's generally accepted, so except that is any difference between cryptocurrency and fiat  currency in terms of importation and exportation of services using fiat currency or cryptocurrency, so I want us to look towards such directions.

The differences arise because of people's beliefs and tastes. I don't think there is any difference between the two, but people who are unfamiliar with something will find it strange. Whether regulated by the authorities or not, the medium of exchange will always be the medium of exchange. However, how society can have the same great trust in crypto is a big challenge for crypto itself. Will crypto be more trusted with a longer life? Who knows?

Fiat and cryptocurrency both co-exist in nature and the society playing important roles most specially talking about transactions and economics. Both have their own way of usage so it must not always play a debate on keep on comparing which is better and which is not. Fiat and cryptocurrency are two existing bodies in the society that relies on how people perceive using and interacting through them.


It is indeed agreeable that the difference between the two are just made out of people's perceptions towards how they see and use fiat and cryptocurrency and into which suits their daily lifestyle in need in order to take easy of their necessities.

They have similarities yet they have different characteristics. Fiat is controlled by the government while Bitcoin is decentralized. Fiat is stable while Bitcoin is volatile. Bitcoin transactions are easier than fiat because we're the ones who are in control of it. However, in some instances, we could survive having fiat without Bitcoin but we can't live with just Bitcoin alone because lots of stablishments still aren't accepting it.

There is not much difference between the two, they are both considered as money, the only thing is that fiat is an official currency and every country has their own currency, but Bitcoin is not an official currency for any country and is mostly considered an asset you own as an individual. As for the government being against Bitcoin, it all depends on the country and they all have different reasons as to why they don’t accept Bitcoin, it can be because they are trying to avoid money laundering or they are still yet to understand it, so they are not letting people to make use of it till they get it.

Valid points I have read so far.
Just to contribute, one major reasons why many governments rejects Bitcoin is how it equalize the supremacy game that is been played by dominating currencies. With bitcoin no currency is bigger than the other and that is how it should be.
On the future, we hope to see the situation where by Bitcoin and fiat are in support of each other.

Not being backed by governments doesn't mean that it is not backed by anything, it is backed by the investors who give it some value. Normally 1 dollar doesn't worth anything, if you get that 1 dollar paper in your hands and you want to spend it, what gives it a value?

The fact that people all around the world agreed to give it 1 dollar value, even governments backing it means nothing because at the end of the day you have to convince the other person to accept it, and all around the world dollar is accepted a lot, but there are places where they do not accept dollars, in that place 10000 dollars worths zero because you can't use it. Same goes for crypto, it is the people that agree to the price of it that gives it a value, for someone that doesn't one crypto it might not have value, but for people who know how much it worths it has a value, same as fiat.

Most government prohibit bitcoin from being used as a legal tender, but they don't prohibit people from trading it. There is no clear reason other than the government look afraid of the domination of bitcoin in the future which can disrupt the circulation and use of fiat currency and will also have an impact on the economy. Another reason that may be disclosed publicly is that bitcoin could potentially be used for illegal thing that may be difficult for the government to control. But I assume that this excuse is too stupid for them because fiat is already the currency that helped criminal and other illegal acts before bitcoin.

Meanwhile, we still need fiat to get bitcoin and so far I see that the government has been receiving profits from bitcoin simply because they enforce tax rule. It's hard to see bitcoin being adopted on a large scale as a legal tender. There are many things that prevent this from happening and one of them is the rule imposed by the government.

And this is what Biden wanted now right ? to Make Dollar Great again ? so i can see your point on that , because The currencies symbolizes the status of each country and how dominance they are as a whole.

Look at the value of US dollar continues to Fall While asian currencies are now starting to make High movements so Yeah I Still stands in Crypto than Fiat.

It has been explained by our friends here that fiat and cryptocurrency are different. The difference is in the system and in the actual form. besides that functionally, both fiat and cryptocurrency can be used to pay for something we buy.

To begin with; i will like to inform you that fiats and crypto currency are not the same; they obviously can be used to serve the same purpose; but they are not the same. I say this because fiat in cash or your bank account adds little to zero value if kept for a while or if converted to a higher currency for international trade. Meanwhile; crypto currency is a lifestyle where you can get profits or losses; wealth or rekt;


Bitcoin cannot be used to purchase everything; because locally, fiats is more accepted throughout the world; meanwhile if you are a digital worker; trader etc; you can ofcourse get reward and payment in bitcoin. Both bitcoin and fiat are currencies; serving different diverse importance to the world

But let's be honest, we can't just be anti-cash because we use cryptocurrency.

I know some of us really hate cash or the system behind it but we can't just remove it in this world. Bitcoin will still be Bitcoin, the most popular and most expensive cryptocurrency in this market. IN the future, the higher the price it will have, the more popular it will be and I think that would just be another method of payment in the future, more people will use it and we will not be having a hard time using it.

I don't see any potential for Fiat and Bitcoin to support each other, because there are too many restrictions in each country. Apart from the above reasons, many countries have banned Bitcoin because this trend has had a negative impact on the financial stability of the country. The high inflated value of fiat is due to the existence of Bitcoin. The representative of the Central Bank in my country even said why creating money serves money. So the chances of Bitcoin and Fiat supporting each other are very slim in terms of authority. However, if everyone in society has accepted Bitcoin well, this potential could emerge suddenly.

Yes because we cannot erase the fact that not all countries can adopt this kind of technology and not all the country can provide a good internet speed that will let them use cryptocurrency in their daily lives, we all know that cryptocurrency depends on internet connectivity as well. Fiat will always be fiat, it cannot be replaced by cryptocurrency, it is run by the government, cryptocurrency runs by no one. So I cannot say that one of these can be gone in the future.

Fiat is a physical money while Bitcoin is a digital one, so technically, they are not the "same" as same, also when it comes to technology, fiat is traditional, and Bitcoin is the future. But I'm not totally against for fiat and Bitcoin to continuously coexist with each other, because they need each other, it's easier to have two options when buying or making a transaction.

Bitcoin adaptation surely will take a longer time for the majority accepts it as an everyday method of payment, but it doesn't matter, Bitcoin will always be the King against Fiat.

It reasonable that for crypto not to be seen as an asset we need to use it as a currency but I think the cryptocurrency users need to wake up to the fact been a crypto enthusiast doesn't mean we have to be anti-cash notwithstanding the selfishness and the centralized operative behind fiat. However, the obsolete of fiat is one of the reasons some governments doesn't want to support crypto, if we don't use fiat they may go against crypto, and the last time I check we need both fiat and crypto to have a proper payment system.

Maybe they are the same in terms that they are both "currency", but still there are a lots of differences you can see between cryptocurrency and fiat. Cryptocurrency is revolutionary; this is a currency that no one can regulate-- it is decentralized. On the other hand, fiat is controlled by government and admit it or not, this is the traditional currency which we use from times before and we still use now. We're having an advantage where we can use both now and we can decide where we will choose to grow.

Fiat is a government issued currency and it has been in circulation for a long time, so it is trusted worldwide. Import and export businesses all over the world have also done with fiat currency. In general, people are used to using it all over the world. On the other hand, cryptocurrency is a new phenomena. There are hundred of millions of people all over the world they don't have access to computer and internet, so they don't know anything about cryptocurrency. As it is still not regulated, so people who know about it and have been aware of its advantages are very much skeptical about it. Some governments have also raised their voice against bitcoin. There has been a lot of confusion about bitcoin and its future, but on the other hand fiat currency is considered very much safe.

It's via a countries that is not civilised, majority of countries are adopting the uses of cryptocurrency for everything both importation and exportation of goods and service's, OK if someone can purchase pizza with cryptocurrency far back when the awareness of cryptocurrency is little bit in society, while can't bitcoin purchase things in local areas currently, so I really disagree with you because people who are using cryptocurrency is higher than people who are not into cryptocurrency, Try to convince me properly.

Both of these money are very correlated and collaborative, even being dubbed as rivals,
we all know that Fiat is printed by the State Bank, and Crypto is printed by the World community,
of course if the Bank loses then the money will no longer be useful and it is possible that crypto currency has value,
currently cryptocurrencies still need fiat, but in the future all will change.

Fiat and cryptocurrencies are by no means rivals at this point in time. The world community can print as many of its cryptocurrencies as it wants, but so far the basis of the modern world order is sovereign states, which in turn rely on the use of fiat currencies, which in modern times are increasingly in the form of digital currencies. Therefore, the defeat of the central banks is the defeat of the state banks and, accordingly, the emergence of ruin and anarchy, which I would not wish for myself or anyone else.

Since Bitcoin is not backed by any other physical objects, its value (similar to legal tender) is based on trust.

What distinguishes Bitcoin from fiat currencies is only the question of where the trust is placed. For fiat currencies, this trust is placed in private institutions. For Bitcoin, trust is placed in technology: blockchain technology.

"many" countries didn't ban it, in fact the number of places that accepted it as legal tender is more than places that banned it, the only bigger number is countries that doesn't have any thing at all. Think about it this way if these good big nations like USA and UK and many European nations all accept bitcoin and even tax it properly that means bitcoin is nothing to be worried about and fiat could be working with it soon.

However there is this idea that bitcoin was created to fight fiat is something everyone focuses on and that is the problem. Reality couldn't be further from truth, the real reason bitcoin was created to create a  decentralized currency so that central organizations can't attack our money, it is not a fight against fiat it is a fight against politicians and banks.

I disagree fiat and bitcoin are not the same, one of the main differences is that fiat is controlled by the governments and there is no limit to its supply while bitcoin is decentralized and has a limit to the number of coins that will exist, while this may not seem like a big deal for those that do not understand how the economy works it is in fact a big deal, governments get a lot of power from their fiat currencies and they see in bitcoin a rival that could take away a great deal of that power and that is why they try to limit its use.

I think there will be "gone".

Right now, we are still debating and people are still talking about Bitcoin eliminating fiat currencies in the future but since we are talking about it won't be eliminated, which means there will be something gone in the future. I am not talking about Bitcoin but the conflict of the people since in the future, I know, it will be united.

I say that because of the fact that there are big countries that openly regard bitcoin as a currency especially along with fiat.  In my country, it is only recognized as a commodity, not as a currency.  China and Inda ban bitcoin and create new competitors for bitcoin.  Even in my country, there are rumors circulating that our government is preparing a bitcoin counterpart.  How come there are ideas of bitcoin and fiat supporting each other even though every country is competing to create a competitor for bitcoin.  Is this just a sweet dream that won't come true.  It is okay to think like that if there is a basis for thinking

You can always have this current system we are in, why would anyone want to change that and why do you think there will only be one standing in the end? It is obvious that we can buy things with bitcoin right now because I have spent thousands on buying things with bitcoin and I can testify that people can buy things with bitcoin, that is already something we know right?

Well, people have been using fiat for centuries as well, so where does this leave us with? It leaves us with the fact that bitcoin and fiat is currently used together without a problem, so why would that change in the future? It will not change and people will be capable of spending both of them together in the future as well. I doubt that anything will be "gone", I think we are going to have bitcoin a lot bigger part of our life in the future, but I think both of them will exist together.

I agree that fiat and cryptocurrency are the same thing, but it's not about governments disliking cryptocurrency. The government basically wants every transaction to use fiat or use a recognized currency and they do that for strong reasons I think for the country of course, because even when there are people transacting using something else in reality the government will still follow up and it's not always about cryptocurrency. With the government wanting to maintain a recognized currency it's no wonder if cryptocurrency is only seen as a cryptoasset, and I don't think that's a problem because after all, it's the reality.

Could Bitcoin exist without the Fiat currency? Let's do some comparative analysis, old hodlers withdraws to fiat for local shopping, new investors buys BTC using Fiat right? The two works hand in hand for proper execution while the government feels threatened the value of fiat is getting to zero, that's why they started banning cryptocurrencies in their country. Nigeria government just joined the hatred against cryptocurrencies in their recent news few days ago https://www.premiumtimesng.com/business/440826-updated-cbn-orders-nigerian-banks-to-close-cryptocurrency-accounts.html

Same thing here, fiat and cryptocurrency are way too the same because this FIAT we are using or the traditional paper money that we are using in each country is almost the same thing that we are using on cryptocurrency, why? simply because fiat is tangible meaning it is paper that we can touch while cryptocurrency like bitcoin are intangible meaning we are unable to touch this currency that's why it is digital. But the purpose and the use are almost the same. The government hates cryptocurrency it is because in bitcoin people can make a transaction that the government will not see but what the government wants is an open transaction in which they can monitor every transaction the people are going to make.

Well, I would say yes they might be something similar to each other in a way both Fiat and cryptocurrencies are used as a mode of payment but cryptocurrencies can be more than that like being an asset. Regarding why government dislikes crypto, I don't think the government will dislike crypto for nothing, there must be some reason why they hate it and that is because they had no control over it, unlike fiat where they can monitor and manipulate everything. Yes, they could impose regulation on crypto exchanges but they can not directly control cryptocurrencies. One thing that could also be a reason is that knowing the fact that the transaction is being made anonymously, crypto can be used in illegal activities. Anyway, fiat and crypto are both very useful in their own way so there's no reason of comparing the two.

Fiat was created so that people could market their goods and services safely and efficiently. Banks tried to offer the best service but from the moment users realized that their demands were not being met, they turned to bitcoin and cryptocurrencies.

Inflation has been a major trigger that has allowed individuals and institutions to prefer bitcoin and cryptocurrencies.
With bitcoin and crypto there is no problem that governments will take control of your money because the best feature they have is decentralization.

Personally, I would not advise underestimating the government's ability to take control of your money ;) Because you do not live in an airless space, but in a very specific state with which you will not will need to interact in order to live in peace and health buying goods and services, so the state will always have in its arsenal techniques for controlling you and your finances.

Even though fiat and digital currency has the same functions and can be use as mode of payments but still these two currency are different. Remember that fiat money already exist long time ago while digital currency is just more than ten years. People are much aware and convenience in using fiat money rather than digital currency. Also we can't force government to accept and legalize a decentralized digital currency. Not all people already know how to use bitcoin so they are still favor in using fiat money.

As long as crypto was treated mostly as an investment, it can't work as a fiat currency does.

Mass Adoption wasn't taking place because only a few as a whole are using crypto as a currency. Crypto, especially bitcoin are projected to reach over $100,000 in the future so who else will spend their bitcoin for now.


What are these demands that don't meet?

Crypto currency is so much better than fiat currency bc inflation cant affects crypto unless its bearmarket

Cryptocurrency is a revolt against fiat currency and banking institutions! Cryptocurrency is the revolution.

It's really not though. It's backed by nothing

unlike you  imagine, there is no uprising against fiat currency. crypto only helps make transactions easier in this technological era

I will express my opinion. Bitcoin is not a CURRENCY. Cryptocurrencies are just a "wrapper" for a technology that, in a sense, can be used as a means of payment. For today - nothing more. It will become a local or global currency only after:
- will be officially adopted
- will be devoid of technological drawbacks
I clarify:
1. Official status - guarantees the acceptance of cryptocurrency in all objects that sell goods or services. Everything else is the use of payment surrogates. The problem is that such payments are essentially illegal and do not guarantee your safety by law. There is already a partial intersection with another point. Total - without official status - you have a set of some data that you can send to some holders of the same data :) But no one guarantees you anything! No matter how much bitcoin costs, you cannot now go to a restaurant and pay with bitcoin there. Or to the market. Or a child's education. Or medications for treatment ...
2. Technological problems. This is kind of a trifle, but it can become a noticeable problem with massive use. For example, let's think of a problem like a mistake in the recipient's address. You sent to the wrong address while paying for the purchase of the selected apartment! What's next ? If the owner of the wallet is a conscientious citizen, there is not a zero chance that they will be returned to you. And if this is not the most conscious wallet owner? What if this address does not exist at all? The second drawback is anonymity. Yes, that's right - the state will not be able to use the anonymous system! No way! The state has one obligation - control of income, expenses, and tax collection :) Therefore, the advantage of anonymity turns into a disadvantage. There are many more arguments at this point ...
In a word - in the form in which cryptocurrency exists now - it does not replace fiat

No one is saying that cryptocurrency is not money, it’s the same as fiat, they are both can be called money, but there will always be a difference,which is the thing you pointed out at the beginning of your article, that fiat is approved by the government which makes it the official currency and every country has theirs. It is just like Gold, Silver and other precious stones and metals, they are all money too, but we don’t use them, rather we are making use of fiat which is the conventional currency.

So, cryptocurrency is in the same category with gold and other stocks or assets, but that doesn’t make it anything less, you can still use it for transactions since it’s accessible to everyone around the world. But, indeed there are people who hate cryptocurrency, and that’s because it baffles them, so they don’t like it. Finally, cryptocurrency is not bad, these people are just don’t understanding it.

This topic is endless. You can say a lot about the fact that fiat money and cryptocurrency are the same. In fact, this is not the case. If the government supports the use of cryptocurrency, then it will be possible. Today, cryptocurrency is little used in everyday life. We can say that these currencies are equal if they are used in the same way by people in calculations every day.

Although many people here think of Bitcoin as money, there are also some who think of it as just a valuable commodity.  They keep it like gold, and gold is not money.  Money is a medium of exchange, but gold does not have a role as a medium of exchange, it only has an investment motive.  Bitcoin in some countries is only legalized and considered a commodity, so for me personally Bitcoin is still money and at times its placement is more inclined towards a commodity.  That's the difference with fiat.

Just to make this clear for everybody who still don't understand what cryptocurrency really is, it only became money when you spend it towards our needs and wants. This will become valuable when it's worth with our desired price which we ever desired to. Fiat is more than physical form, and cryptocurrency is more of digital figures that can be used through computers that used intenet connectivity through blockchain network that provides us convenience.

  a cryptocurrency is a form of digital or virtual currency that can function as a medium of exchange. having a virtual nature, they use cryptography technology to process the sect and authenticate the transaction.Unlike the hard currency,the cryptocurrencies are not controlled by any central  authority such as the central bank.Instead they are limited entries in a database such as blockchain that no one can modify or manipulate, unless certain conditions are met.

You could still have a worth or a value without even spending it, because you can buy digital currency with fiat and sell it for fiat which gives it a worth. So, if I buy bitcoin at 40k and sell it at 45k that means it has a value and I made a profit from that value. We haven't used gold for purchases in decades, it has been a very very long time since the last time people used gold as a means of transaction, but it still has a value, and in fact it is seen as one of the best (probably the best) store of value in the world as well, you put your money in there and your wealth never shrinks in the long term.

Of course this is viable for people who can put money aside. So, I think crypto is both like fiat a bit in which you can spend it to buy something, but also a bit like gold because bitcoin has store of value as well, it is somewhere in the middle of those two things.

Totally agree with you. Something that we do use for the daily transaction is money and besides that has value on it is commodities. Gold is a form of a commodity that stores value which has a physical form and crypto is a form of a commodity that doesn't have any physical forum but still it can store value like gold. It's a new form of asset that can store value and at the same time can be used for the daily transactions.

Despite the hate of fiat by many crypto enthusiasts, Fiat has been the only route many get into Bitcoin and many other Altcoins and it has also been easier for retail investors to get out of crypto space with their profit.
Many investors run for fiat because of its inflation rate but no matter how long you invest in an asset, at a point in future, your value will definitely be liquidated in to fait in other to enjoy economical value with your friends, family and live ones since bitcoin isn't generally accepted in all places.

You can love or hate fiat currencies, but you just need to recognize that such currencies form the basis of modern economics and public policy, and no cryptocurrency is able to compete at this point in time. But any thing has its costs and relative disadvantages, in the case of fiat currencies, this is constant inflation, which is a good help for the state for economic growth, but a bad factor for the ordinary population, which slowly devalues savings.

fiat is much more familiar, for many, than cryptocurrency. But most importantly, the government can control fiat, so, in my opinion, the full introduction of cryptocurrency into our lives will be long-term. The government needs to learn how to control the crypto, and again, there will still be an anonymous cryptocurrency.

Even at the time you’re just holding it in your wallet it has value already, as long as people are ready to buy it for a particular rate, that rate will be the value and as time goes on it will be changing. It’s that value that it has which will enable you to be able to use it to buy whatever you desire, because if there is no value you’re going to be unable to make use of it to buy whatever it is that you want to buy. So saying that it doesn’t have any value until we use it to buy certain things is wrong.

It is completely impossible to remove fiat currencies because governments can force you to accept them, even if in the future we see a massive crash in fiat currencies to the point that no one trusts in them eventually governments are going to reintroduce those currencies and force people to accept them, and at that point what option businesses are going to have except to comply? However I really expect that as time passes bitcoin really becomes a parallel system that we can use alongside fiat currencies.

And no one will be able to remove fiat currencies even with the greatest desire, because there is no replacement and cryptocurrencies are absolutely not suitable for this role. The state as a system and fiat currencies are closely interrelated and it is only necessary to remove the fiat from this system, as the state administration will collapse like a house of cards. Therefore, the cryptocurrency has excellent prospects as an investment asset, also some prospects for parallel functions, and no prospects as a replacement. And by the way, do not confuse cash and fiat, it is not always absolutely identical things.

I beg to differ in the sense of them being them same, Fiat is only backed by the government of a country because it serves also as a national symbol. Cryptocurrency is absolutely free from third party involvement in a transaction, it has intrinsic value which the fiat doesn't have. The speed of transaction with crypto is even enough for everyone to be able to different between the two commodities.

The people who need to be educated about cryptocurrencies extensively are the children growing up, the old people are hellbent on terminating the technology which is a pros in the whole adoption of crypto. Because the government doesn't support the idea of crypto it doesn't make it any less of money. It is not accessible by everyone because of the lack of knowledge of it.

"A banana and an orange are the same thing"

You are not ironically comparing two completely different things in their essence. You compare the similarity based on the function-purpose, but you do not want to take into account the essence of the subject and put an equal sign, which is fundamentally wrong.
Fiat currencies have a special set of qualities that make it impossible to equate them with cryptocurrencies, and the same with cryptocurrencies, they also have their own set of special qualities.

Putting an equal sign in such a question makes the most stupid mistake.

I don't believe Fiat and cryptocurrency are the same. Yes, they might be performing the same functions and today there might be some form of transactions where crypto is been accepted as a means of payment but that is some individual organization or businesses which doesn't stand as a total representation of the Country. You must also understand the difference in value fluctuation or the volatility in cryptocurrency price which is not the same as fiat. Hodling your crypto at any given time even the same amount but you realize the monetary value fluctuates which makes it difficult to have a steady value except for stable coins which is almost stable because even that, you still notice a fractional variation in price.   

This would be the best approach to crypto currencies. If we can educate all the younger generations about the positive effects of crypto currencies than we would change the world in the long run. Also it is much easier to educate younger people since they have a better understanding of PCs and the Internet. When I look at my grandparents it seems very hard to teach them the concept of cryptos.

As much as they can both considered as currency, there are some things you can't purchase with btc. Not because btc doesn't have a good value for it but because the value of the thing needed to be purchased, might just be too low or the merchant prefers fiat. Imagine buying a kilo of chicken from a merchant and wanting to pay an impatient seller with btc. Such situations are quick transactions and fiat is usually a preferred choice.

There was a great saying that says "any technology that came out before you were born is natural order of things, anything that comes out until you are 20-25 years old is career opportunity, anything that comes out after you are 50 is against the natural order of things", which shows the approach of people.

Of course there are people who are interested in crypto and also 50+ years old, but if you ask all the people who own crypto how old they are, I am 100% sure that the main number will be around 20-40 years old, because they are both old enough to have money to put into crypto thanks to their jobs, but also they would be young enough to understand how it works as well.

Nobody could say that next generations will be very much into crypto as well because maybe something much better will come out, I mean nobody expected bitcoin too but it was one day created and here we are, but if nothing better comes out I am sure bitcoin will keep growing and used by more and more people over the years.

Of course, we don't have a crystal ball and we can't predict the future of bitcoin. There is always the potential for good and bad. But I believe that bitcoin will grow and develop.

In my opinion, Bitcoin will be an alternative currency for communities or users to pay for, buy, or make online transaction among other users. But regulation still prevent bitcoin and its adoption.

This will be one of the biggest challenges facing Bitcoin adoption. In my opinion, the massive use of Bitcoin as a means of payment in the daily life of every person will be available Over time, especially when the generation changes. There is a lot for society to learn before they start using cryptocurrencies in everyday life, and this is not only how to acquire and how to use, but also to safely preserve their cryptocurrency assets.

That would be the case.

I can see Bitcoin being used in the future but I just hope that it will not be getting at the bad side of the government. If they think that Bitcoin is getting in their way, they would just make laws or create protocols about these cryptocurrencies. They will never be able to stop it but they will be creating limits for people to use it.

There is a huge difference between fiat and crypto currencies. Not just because the one is decentralized and digital while the other one is centralized. There are a lot of people that don't use crypto because of the fact that they are not used to these kinds of modes of payment and some even think that they are just a scam. 

We need to differentiate the two so we can tell them the advantages of using them. Although the problem arises as not all of the countries are allowing their citizens to use it. Even some of them accept it, they have a limited way to use itl.

I think the guy is talking about purchasing power.
Like he believes that the same way people use fiat currency, it should be the same as Bitcoin.
As in whatever à person wants to buy, using Bitcoin to purchase think is possible... That is, using Bitcoin as a real money.

I agree that both fiat and cryptocurrency are the same, they both have their advantages and disadvantages. So it is better if fiat and cryptocurrency
should complement each other and not drop each other. Because for now I think we need both of them. Because it is better if fiat and cryptocurrency
can go hand in hand. But the problem is the government is too afraid that Bitcoin can replace fiat, even though the reality is that currently not all
locations can use Bitcoin to make financial transactions. So the government should be able to accept Bitcoin as an alternative payment option.

Also the best we can do is to get into what's best right now. I mean yeah there might be things 10x better than Bitcoins later but right now they are not available so the best one can do is to get into Bitcoins and that is what we are doing. It is like when the first time houses were made people would say - no better houses will be made in future so lets not live right now, this just doesn't make sense.

As much I love Bitcoin, I feel there will be a complete shift of fiat towards blockchain technology and countries will issue their own crypto currencies which would mean the use of Bitcoins would be limited, one can imagine like USDT being the official American coin, something like that.

Basically can characterize Fiat cash and cryptocurrency that are different.Fiat can utilize for crisis and crypto isn't for crisis due to a few reasons like legalization and selection. Compared with cryptocurrency, it is indeed more invaluable. It is as it were in a shorter period of time. But you disregard that the legitimate money is overseen and controlled by the government. Cash isn't great. This alone decides that cryptocurrency cannot supplant legitimate delicate within the brief term but the fiture of crypto is secure and shinning

Fiat and cryptocurrency can never be the same. Fiat is a centralized currency, manage and control by the government of the country while cryptocurrency is a decentralized currency which does not involve third party.
During the pandemic, fiat currency decreased at a point the government where confused with their currency that was decreasing in the process of the lockdown. bitcoin which the pandemic could not stop not to pump during the lockdown beginning to dominate to show that covid-19 can not collapse digital currency.

The headline contains a wrong idea, and then the idea is based on this mistake. "Fiat and cryptocurrency are one and the same" - NO! This is not the case at the moment. First, study what the financial model of the state is, and then, at your leisure, impose on the ideology of a decentralized, uncontrollable, mostly already issued "currency" and you will immediately understand what the fallacy of such a statement is. Let me explain in a simplified way - if fiat is conditionally secured obligations of the state, then cryptocurrency, with all due respect to it as a technology and ideology, is still a set of bytes, the management of which lies outside the limits of acceptable financial logic ... is the legal tender, or store of value, where regulatory laws operate. As if you did not want something else. But this is the reality.
And about the problems associated with the use of cryptocurrency as a means of payment - you can talk for a very long time. I, personally, consider it an asset, digital, with all the consequences

That is true. But I think he just wanted to mean in a simplistic way fiat and cryptocurrency have the same finality, that is to make us able to acquire products and services through negociations in our societies. For that reason people who are against crypto currency should be more open minded about it, especially authorities who use their power to create obstacles difficulting crypto usage or even trying to ban it.

Bitcoin showed impressive results during the pandemic, while fiat went through the opposite way, what turned many economists and politicians against bitcoin in third world countries which are the most affected by the fiat devaluation. Sadly they see only the half empty glass and not the benefits bitcoin brought to many people during the pandemic.

That is without a doubt a given, regulations are coming and the stronger this market becomes then regulations will become even harsher, but if we see an economic crisis then be prepared because I expect outright bans for cryptocurrencies, this is nothing new, when a government gets in trouble they suspend any kind of legal use of any other currencies in their territory, this has happened many times to the dollar for example, but when things get so bad most people just ignore the law as they are forced to choose between obeying the law or having something to eat, so we can expect a similar outcome for bitcoin if that scenario comes to happen.

I agree that bitcoin proved that it could succeed during the pandemic. Not only that, it also drew attention to large investors that it is ready for the future. We have all realized that traditional banking systems are obsolete and that governments print money causing more problems than solutions.
This is how bitcoin convinced it to be the best asset to invest in.
I remain optimistic innovation will come soon now that our world is more digital.

It's true bitcoin proved it self in this kind of situation since pandemic started and when the times of bull run and never stop most of people are choosing bitcoin over fiat currency since there are vaccine already and people needs to get vaccinated that's the time a country needs to recover from it's economy and it's fiat currency rather than bitcoin as you can see the market cup rises into 1 trillion this time and many of the companies are investing there asset or sales into bitcoin this could be an eye opener for those who really wants to start with bitcoin.

What do fiat and cryptocurrency have in common? Both of them are forms of money, but they have completely different natures. You can't prefer one to another because we are still far away from the mass adoption.

  Only thing they have in common is that they both currencies

fiat is controlled by central banks crypto is controlled decentralised from community
fiat gets inflated and depreciates because of inflation while crypto has limited supply and price goes up the more people use it

governments disliked crypto currencies because they cannot control it from their central banks but its obvious is the only way forward for currency
and thats why they will also start to adapt and to adopt it.

soon there will be no fiat because crypto will replace fiat

The fact is that cryptocurrencies first of all become a valuable asset for investment and this is what attracts public attention to it. Undoubtedly, a lot of time will pass when cryptocurrency will be massively used in everyday life, but this requires a really good infrastructure to enable the use of cryptocurrency by society.

Asset is always save for long term relationship and at the same time day to day life style is little different from current economy. I think once it will be globalized in the world we are purely take a action in common society. Fiat currency is completely control by government so it is hard to jump at peak and crypto is little different from fiat so we make good noise on further growth of cryptocurrency.

Many of the trader ignore the innovation offered by bitcoin so that these people only use bitcoin as a tool for profit. Bitcoin is designed to provide users with an easy and secure payment network. These innovation can slowly fade away when people are only interested in their high selling price.
This is different from what was previously expected with bitcoin. If people still want bitcoin to dominate the world in term of currency, then that innovation shouldn't be ignored. Global adoption can continue to be considered even for countries that have not legalized it as a legal currency.

The adoption is here my friend. You can't say bitcoin current price is far from adoption. The entire market cap has doubled in the space of short time. This is the most frenzy bull run inauev I have experienced and I never see it coming otherwise I would have come prepared from last year. :P

Looking at comparisons of fait and crypto, they are both can be exchange of value but the other is a tool as hedge against inflation but saying fiat is useless is completely rubbish talk in my opinion. If fiat is a total waste why do we see more traders running into stable coins after having large gains. Fiat's is very essential especially when one need to liquidate holdings.

People do not realize this but bitcoin passed a very important test with the pandemic, before it we had the theory that bitcoin will behave as a store of value and that people will want to get it no matter what, but at the end it was just a theory, this is the first important global crisis that bitcoin had to face and despite the drop in the price that we saw at the beginning of the pandemic the results are very favourable, now there is no doubt that in the case the fiat system crashes then bitcoin will be there to protect us, and this has only increased its popularity among institutional investors and the general public.

Same goes for fiat too though,, good thing with crypto is at least you know how much of it is in circulation

I believe that fiat money and cryptocurrencies are not the same thing. You say that BTC is money, then according to money BTC should be used to pay for goods and services all over the world, but this is not. I would call BTC a new asset for saving and earning. As for money, there will probably be new digital money in the future, and each state will have its own. You must understand that no state will ever allow anyone to create their own money, and there is logic in this. Therefore, cryptocurrencies are probably some kind of experiment with an as yet unknown purpose and task. But no matter how it was, cryptocurrencies have already made their contribution to our lives and it will probably continue.

Even though cryptocurrencies have almost the same functions as fiat, they are still different. Therefore, many people prefer to use cryptocurrency
as an asset, because in my opinion cryptocurrency is more similar to Gold. And also because the price of crypto is very volatile, it is very difficult
to make crypto a payment like Fiat. Moreover, many countries prohibit using crypto as payment, making crypto as difficult to use as fiat.

I will express my opinion. An ordinary layman who needs to fix some savings (for example, a "financial cushion"), and who has a normally working mindset, with a probability close to 100%, will choose fiat currencies dollars, euros, yen, etc. Why? Yes, everything is extremely simple:
- no difficulties with their use so that this does not happen. I took it out of my wallet, paid it, that's it!
- no difficulties with storage and access.
But crypt is, first of all, RISKS and FEATURES. The time is not far off when the cryptocurrency market will again be influenced by a bearish trend. And for those ordinary people who do not understand how the cryptocurrency market works, who yesterday bought 55,000 dollars for 1 BTC, see today the price of 10,000-20,000 for 1 bitcoin, they will rush off the roof without experiencing such losses! Their "cunning speculations" will fail. The saddest thing is that even after seeing the market fall, they will go into hysterics, trying to withdraw from the wallet to the exchange and sell. This will take them a long time, during which they will see the price DROP in the market. In a word, crypt is not yet for mass use and is definitely not a way of saving for ordinary people.

Which is why it is so valuable, governments can print all the fiat they want, but even if this is not true for gold we do not know how much has yet be mined, but in the case of bitcoin not only we know that number we have a very precise knowledge of the rate at which this will happen and how long it will take the get there, this makes bitcoin the perfect store of value, and I think people are realizing this is the case which is why the popularity of bitcoin increased so much during 2020.

We allknow Fiat and cryptocurrency is portion of the advertise some time recently I fair know around the fiat money and the stock trade upon detonating I find the utilize and benefits of the cryptocurrency and until presently I likely learned around this coin and particularly the bitcoin I'm not saying I know everything fair having information. Cryptocurrency and fiat cash includes a distinctive viewpoint, reason, benefits and more which individuals would like to it depends on you how does it work and how to utilize it.

Even if we see them as performing the same function, they are not totally the same. During your daily transactions or maybe even in the past days, I believe you most have traded your Bitcoin or other crypto for any of the stable coins which by the way is pegged to Fiat currency like the USD? Bitcoin might have provided us the power to seamlessly transact across countries and continents faster but it's volatity is still an issue when it come to comparison with Fiat.

Are they the same though? You're comparing fiat and crypto just in terms of transactions, purchasing stuff, but crypto offers so much more than that. It's not just about advantageous fees and speed.
If cryptocurrency was just a form of money, but with the difference that it's not physical and faster - it wouldn't work. You'd have to fix the price, implement taxes, someone would have to control it because fiat can't survive without centralized control. That would probably lead to inflation.
Cryptocurrencies, on the other hand, are meant to be decentralized, which allows more freedom and less corruption, more control over your assets. Fiat can't offer that. 

Fiat and cryptocurrency are the same
It's not the same for me, because bitcoin is virtual money and not real, it's just that you can buy certain things/goods
But fiat money can be bought for anything, not only needs but being able to buy bitcoin and bitcoin cannot buy fiat money

many and almost all governments dislike cryptocurrency for no reason, of course, anything that is decentralized goes against the government's intention to control the population in general.

Obviously them can never be the same but the similarities is there, because we use fiat currency to purchase pizza and we also use cryptocurrency to purchase pizza, which is documented in forum that somebody purchased pizza with crypto when Bitcoin did not dominate like as it's currently, so since this analysis happened previously, so while can't us accept the fact that btc and fiat are correlated the only difference is the regulations.

It's not just about the rules. It also lies in the principles of operation and areas of application. Under the current systems of public administration, which operate in all parts of the world, fiat currencies act as the basis on which the functioning of the economic system of any state is built, and not just payment for goods and services, and there is no escape from this.

Traditional banks are obsolete? I bet you did your transactions in getting into crypto trading from the Bank and I want to also believe up till now you are still using this same traditional banking system and that you have not 100% have all your assets in crypto. Look we are all for cryptocurrency and i just hope some day they would have been able to work side by side and not one trying to kill the other even though we think some big institutions are getting into crypto, I strongly believe it is because they have come to see the PROFITS they too stand to make from it and besides, lets not believe that the Governments will just allow that to happen.

My 2 sats  ;D ;D ;D

Ok, now I comprehend your area's of concentration but from your comments here, I'm putting it generally while we think cryptocurrency is differ from fiat currency, except it's regulation which involves decentralization and centralisation, looking towards it critically it's clear that they have the same functions.

It willexperienced critical situation  confronting Bitcoin appropriation. In my supposition, the enormous utilize of Bitcoin as a implies of installment within the standard of living of every person will be accessible Over time, especially when the era changes. There's a lot for society to memorize some time recently they begin utilizing cryptocurrencies in lifestyle , and this is often not as it were how to obtain and how to utilize, but moreover to securely protect their cryptocurrency resources.

In first-view, the hate that some governments have for bitcoin and cryptocurrencies in general may not be logical or reasonable, but if you're to track these particular governments' ties with banking entities, you'll start to see a pattern. Banks generally control fiat, and adopting a new form of currency means that their cash will not be worth anything anymore, so basically they are doing their best to downplay crypto in such a way that people all around the world will hate it, because it's "illegal" or bullcrap like that, but they are wrong.

I think it is natural that people here in the forum believe in cryptocurrencies but there is a reason banks were created, that is not the problem, the issue with banks is that they have abused the power they were given to make themselves so powerful that their fall not only means their own doom but in many cases the fall of a country or the entire economic system, this is where bitcoin enters the stage, bitcoin can offer protection against such an event because it is not part of the financial system in the same way that fiat and banks are, and that in itself is enough to make it incredibly valuable.

Obsolete banks will continue to age in this way for many hundreds of years, as they did before. Banks will not go anywhere, they will use blockchain technology and issue digitized currencies, that is, they will borrow useful things from cryptocurrencies and develop further.
Our world is gradually moving towards digital currency, but cash and other types of non-cash payments will still remain.

can all cryptocurrencies be decentralized? maybe it can but it will take a long time and because defi plays an important role here, the projects related to defi immediately increase when Fomo first increases.
Then whether centralized coins will disappear in the future and all crypto will become decentralized.
if so, of course this will change the structure that has existed for a long time and the banks that are the most affected.

Fiat are history. Cryptocurrency is the future. No doubt about it specially that technologies are growing rapidly and more and more investors are joining the trend. There nature are quite distinct.

Don't forget that people have been using physical coins for thousands of years. It will not be easy for electronic money or cryptocurrencies to completely replace FIAT money. I think the current financial system will simply accept cryptocurrencies and they will exist together in the market for many more years.

It is not as simple as you think, obviously I like bitcoin better than fiat currencies and the same is true about gold and silver but governments and banks have so much power that even if fiat currencies eventually disappear it is not going to be a process that happens anytime soon, it will take decades if not centuries for that process to happen and there is still a chance that governments find a way to subvert cryptocurrencies and use them for their own purposes, so we must not get ahead of ourselves.

Fiat and cryptocurrencies are actually the same in function. The government only don't want cryptocurrencies because it takes power and freedom of finance from the government and banks to give it to the people. The government absolutely don't want to give control to the people.
Bitcoin and cryptocurrencies have an edge over fiat in that it takes less time and transaction fees to make transactions across the world and there is no need for conversion between currencies of different countries in order to make transactions.

The more the Fiat or currency of a country increase its value is the more the economy told growing this use as basis of how strong and how weak their economic stand is.
Like in some countries that their currency is depreciating value that means they are losing their momentum and need to act fast before their currency end up losing the High value.
This happens in Venezuela in other part of africa as  their money is now comes almost no sense in using at all , that is why they are converting in to cryptocurrencies nowadays.

Fiat is different from cryptocurrency because fiat is a centralized currency that can be control by the government while cryptocurrency is a decentralized currency that was created by Satoshi Nakamoto to reduced challenges in the areas of transaction and to make their coins safe. During the pandemic that shook the country economy and also caused the fiat money to lose value during the process of the lockdown, where cryptocurrency wa still dominating among other currencies in the exchange market.
The government that saw what happened during the pandemic that caused their currency to lose value during the pandemic, make them to believe with time cryptocurrency will be more popular than fiat money.

Fiat and cryptocurrency are both good for every people, there are still a lot of people who don't know about cryptocurrency or some have no stable internet connection so they still choose fiat over cryptocurrency. The government keeps on doing something to delete bitcoin but they cannot do whatever things they will do, they are doing it because they cannot control it which is a feature of being decentralized.

Cryptocurrency is just a fiat in a modern world. They can be distinguished in some nature but their uses and relevance are comparable. The good thing with crypto is that it is decentralised and cannot be controlled by one. It also has its fixed nature.

Fiat currency is controlled by the government but crypto is not controlled by anyone. It is decentralized and everyone makes a profit by investing as they wish crypto is completely out of the control of the government manages the fiat currencies as it wishes and the people have to pay taxes from now on. There are many features between the two it is not possible to run the country without Fiat.

Most people do not like to take risks with their money. For many people, the government is the safest organization they can trust on. So the money issued by central banks is the safest for those people. Central Banks regulate the money supply and try to boost the economy with monetary policies. However, Bitcoin does not give them so much reliance in comparison with fiat money. They consider bitcoin as a volatile, dangerous medium of exchange. In that manner, there is a difference in BTC and fiat currencies.

Now cryptocurrency is digital currency which is obvious to society while fiat currency is physical currency which is generally accepted by old adults and young adults, so fr my perspective its correlated via expenditure, shall I can say that in all ramifications cryptocurrency is just like fiat currency but people who loved crypto won't understand the concept that fiat and cryptocurrency are similar in terms of expenses.

I would say a little differently, the absolute majority of people do not like to risk most of their money and have their own reasons and every right to do so. For all their shortcomings, the fiat currencies of central banks are one of the tools of public administration, and no state will voluntarily give up such an instrument of influence on the economy and on other spheres of life. Therefore, it is a big mistake to contrast fiat currencies and cryptocurrencies, and the presence of one of them should not imply the absence of the other and vice versa.

Even in the long term, I don't think cryptocurrencies will replace Fiat currency. Wouldn't we have said years ago that Gold should replace Fiat because at a point when Trade by Barter was still wisely done, gold was also a means of exchange and i still believe it is even today but not as it was back then. Crypto will exist for those that understand it and Fiat will exist and continue to be the Governments global means of exchange and economic control.

It is that we are close to a digitization of money, if this happens, cryptocurrencies are the example to follow, any other technology that comes out is very difficult to match the blockchain. Although cryptocurrencies have high volatility that can give you benefits at any time, whether in the short, medium and long term, it is a deflationary economy, that is, although it is not supported, only by supply and demand it has an economy greater than the fiduciary.

Banks, governments do their respective economic studies and the best option they find is to devalue currency to generate liquidity, this is always the case. If we now compare all the benefits of cryptocurrencies where there is no debt, I think it is well above fiat money. And those familiar with this must adapt to technology.

The "only difference" you talk about is a complete change to the current financial and monetary market, so it's not just a difference. In my opinion, centralized FIATs will not disappear for decades or even hundreds of years. I think cryptocurrencies will just take a piece of the financial cake and will exist alongside other forms of payment. Everyone will be able to decide which one they want to use.

Of course fiat will not disappear from circulation, considering that there are still governments that seem to choose to use fiat instead of cryptocurrency, this can be seen in my country, where until now the government seems to have clearly stated that it has not been able to legalize cryptocurrency

It's not just national governments that will make problems for the adoption of cryptocurrencies. I think that despite everything, the difference in technical progress in many countries will not allow to adopt cryptocurrencies as a form of payment for a long time. Paper (or plastic) is much more available in many parts of the world than the internet, so that will definitely be a big barrier as well.

While you are likely right that governments are not going to give up on the current financial and monetary system anytime soon, it depends also on the people living in that country. For large countries where the currency is used by many people like the USD or EUR it not going to change. But smaller countries where there is high inflation could feel a lot of pressure. If the people in a country would just stop using the currency overnight and everybody switches to cryptos then there would be a lot of trouble for the government.

FIAT and cryptocurrency have many differences. Cryptocurrencies have many better advantages, and fiat currencies don't.
FIAT can easily turn them into cash and payments in most payment services.
Cryptocurrencies have fewer units of support at checkout and can only be exchanged for cash when exchanged at Crypto ATMs.
I prefer cryptocurrencies because they are completely in my wallet owned by me. Cryptocurrencies like Bitcoin can increase in value over time as they are scarce.
FIAT money in my bank account is simply a number and can be blocked and monitored by banks. They are not as scarce as cryptocurrencies, and their value can wear out over time.

I disagree, the name fiat currencies implies what they are, fiat means decree, which means fiat currencies have value just because the government says they do, cryptocurrencies have value because in aggregate people have decided that they do, it is the opposite approach to fiat currencies, and in the case of bitcoin there are also many other differences, like the limit in the amount of coins or that you do not have thought KYC just to create a wallet like what happens when you open a bank account, that makes bitcoin many times better than fiat currencies.

Both can be used for payments and as a store of value,Both rely on widespread consumer trust in order to function as a means of exchange,Fiat money is issued and controlled by (central) banks and governments,Bitcoin is produced and distributed through a process called mining and is not controlled by a centralised authority,Bitcoin can be trusted because it is tamper-proof and cannot be spent twice.

I think that society must first of all understand that cryptocurrency will give them independence in the first place, unlike fiat money. If over the next 10 years, the capitalization of bitcoin increases by an average of 10 - 20 times, then this will provide an opportunity to get a stable price of bitcoin and then we will be able to see the real advantages of cryptocurrency over fiat funds. It is then that people will begin to actively leave Fiat and switch to Bitcoin, since stable Bitcoin is not only a reliable asset or means of payment, but also a safe storage

Yes you have  a point on that, crypto currency or bitcoin qnd local currency is has a big similarity because those two are both currency but there many disadvantages and advantages using those two currency, like using bitcoin is easy to buy something online using our online wallet to pay what we're going to buy however using fiat or country money you need to personally going to market to buy what you want
But subsequently those two are important because their purpose and roles in our society are important.

While that might sound easy, I dont think it can easily work out like that, every one in the country witching to using cryptocurrency. Even now, if a statistics where taken of this countries that are already well engaged in crypto. how many %tage of the population are fully engaged in cryptocurrency? and also is it really going to be possible for any government to allow its monetary policy over run by cryptocurrency?  I do believe some day in the future there is going to be a wider rand on crypto adoption but I still see Fiat as the main countries currency.

Even if the capitalization of bitcoin increases ten or twenty times, it will not bring bitcoin to a stable price. Decentralized cryptocurrencies, by their very nature, cannot be price stable. On the contrary, we see that the higher the price of a cryptocurrency, the more it exhibits the possibility of price fluctuations.
In addition, a stable in price bitcoin in this market will be unclaimed, since it will not be able to make a profit. Hopefully, we can never see Bitcoin price stable.

In general, you are right when you say that fiat and cryptocurrencies are money, but of course they have a number of differences that, on the one hand, give advantages, on the other hand, they have problems. States will never accept cryptocurrencies, cryptocurrencies because they are not governed by the state and there is logic in this. The fact is that a state that does not have control over finances, for example, has the opportunity to get problems that, as a result, can negatively affect the state itself and its development. It's another matter if the state launches its own cryptocurrency, then this could solve some of the problems with misunderstanding and, as a result, partial use of cryptocurrencies as money could take place. But as you correctly noted, there are many similarities between fiat and cryptocurrency, and probably in the future all the money in the world will work on blockchain technologies.

from society perspective, fiat is usable and easy than cryptocurrent. so, if crypto born first than fiat, people will have different thought about this situation, like how easy crypto than fiat. the problem is this thing can through barrier between times and technology. the ancient one, will have problem studying, and the technology will always run like no one need it.

I just feel life is all about phase just as it is indicated in chemistry. It changes from one point to the other when some conditions are met or some factors. The same applies to economy, fiat has done well the past years but the limitations with inflation has been a bad side to suit an average man life.
Now coming to bitcoin, it has been one of the 8 wonders 9f world ( smiles), but we shouldn't be blind by the profit, let's talk about the bad side of bitcoin as well. How can an asset who loss more than %50 value within two weeks replaces fiat and rule the economy? Its impossible in my opinion.

Bitcoin will replace the fiat currency only if Bitcoin itself becomes a fiat currency ;) But if this suddenly happens unexpectedly, then the very meaning of bitcoin will be lost, as a currency that does not depend on government structures, is decentralized and exists on its own. However, the scheme of decentralization and independence itself is currently undergoing severe tests due to the actions of the Chinese authorities, and bitcoin mining capacities are hastily moving from Chinese jurisdiction to American and European jurisdictions. Fiat currencies do not have such problems in principle, because such issues are the responsibility of the state.

both are useful and people in all walks of life use them, fiat are what people known as mode of payment, transaction and among other but there introduce another and new way of money which is cryptocurrency and it has advantageous to growing economic countries  it made all their way of communicating, transaction, payment and bills and other easier and convenient. no hassle and it elevate their way of life too.

Yes, I completely agree with your opinion but talking about cryptocurrency as a new payment method, it seems like only a few countries are ready for that,
but I also believe that with the development of the times it is possible that it will become a new payment method or transaction for the whole world,
because cryptocurrency provides great benefits of course

for now, bitcoin's main function as a means of payment does not seem to have reached its goal. but because of its high fluctuation, and the price has increased significantly, many people actually use it as an investment tool. Moreover, not many countries have legalized it, so there is still a long way to go as a means of payment such as fiat

- Only a few countries are ready for crypto to enter their market but the features of crypto are not feasible and not as optimal as banking systems, that's also why crypto adoption has been stagnating in countries for years. People still think fiat is more reasonable for payment given its reputation, crypto is just an underground form of payment by some institutions, apparently many countries have looked into and investigated crypto issues, the crypto world contains a lot of darkness and is only suitable for investment

Both are need to all ages of people but for idle money i go for crypto-currencies because it will go extra benefits to mine but fiat is almost fixed nothing changes are happened so if you take risk you will get extra benefits from crypto-currencies.

I don't really know why it's so difficult for most people to see reasons that in this present time fiat needs bitcoin and bitcoin also needs fiat too as well, if the two are being compared we will see more reasons to say bitcoin is much more better than fiat because bitcoin creates lots of opportunities for Individuals and also makes across countries transactions much more easy, the two currencies are both money we should see that clearly and I can possibly say government hatred on crypto is actually based on ignorance.

There’s nothing special about cryptocurrency that gives people financial independence. Any asset that appreciates 10-20 times has the potential to give someone financial independence, it’s not magic because it’s bitcoin that does it. Bitcoin has risen this far and still doesn’t have a stable value. There’s no reason to think that another 10-20x and it magically will start.

Fiat and cryptocurrency have similarities like you can send and receive money, you can also save and spend using these two. Fiat money is issued and controlled by the government. They have the power over it. It depends on the gold and silver reserved by a country. Cryptocurrency on the other hand is a digital currency and can be controlled online. Transactions are also being done thru online payments. It has blockchain technology and it is faster to transfer money compared to fiat. 

Independence what he wrote maybe have another meaning, but thats quite weird if Bitcoin give us financial independence. We know that Bitcoin can't change you to be rich man, because there is no currency can do it. Even to earn sone money you have to work. So  I dont understand which one can give financial independence if you cant get money from money its share.

Maybe he do mean about independence it the sense that no one controls you out in terms of financial aspects because if we do talk about independence on the sense of capacity or capability then
Bitcoin isnt some internet magic money that mostly noobs do believe on.You do really need to work for it just like into those typical day job on where you do work hard for you to earn money
same concept do happens in crypto and to think that crypto does rely on fiat value too since you do need to convert then it is just basically having that kind of connection after all.
I dont really see the reason on why do try to make things complicated if these both things does have its own usage.

The principle is actually two things that have a good relationship in life, which can help many people in their economic life. It's just that there are countries/governments who still doubt crypto and think too much about its advantages and disadvantages. Well, let's just take the benefits, as long as it helps.. never stop not leaving the things that have been proven to help our lives.

If Fiat or Crypto have same concept, that doesn't mean Crypto can give us independence as he means. We made it complicated, crypto has the same function with fiat. Both of them are just a tool for transaction, or save the value, or even for speculation. If they have their own differences, those are just innovation and characteristic that owned by themselves.

Fiat and cryptocurrency are different.
Fiat is controlled and managed by the government, which is a transaction currency supported by the government.
Cryptocurrency is a decentralized digital currency that is not managed by the government, and individuals control their own assets. Cryptocurrency can also be used as a store of value asset, and investment in cryptocurrency can make a profit.

Fiat and cryptocurrencies actually have the same function, namely as a transaction tool. The difference is that fiat is used in the real world while cryptocurrency is used in the digital world. Another difference is that if fiat is issued and regulated by a government, while cryptocurrencies there is no government that regulates it.

they are the same currencies but theres some difference and that would be the legality of one another because one is fully legal everywhere but btc have some issues in terms of legality  .
another difference would be that fiat can be seen only in the real world while btc isnt but it lives digitally . i appreciate that you like to use  btc as a replacement to fiat because not all can do that .

You have to take in consideration that fiat is easily controlled by governments and every price change in it is planned and they can easily create more of it whenever they want, and because how bitcoin and cryptocurrency was made to counter that whole concept and bring freedom of choice to the people and that is what government are afraid of and that is why they hate bitcoin and crypto, and that is why we see some countries banning it

Legal tender and cryptocurrency have their respective advantages, both sides can complement each other, legal tender and cryptocurrency I will use together, for example, if the transaction is small, I will choose legal tender, I can use cryptocurrency when I pay to cross the border, and cryptocurrencies are relatively free, with no third party.

Which eventually means that, they are different. just because now we can use cryptocurrencies to pay for some purchases does not mean it is the same with fiat. How many stores in your community do you know that accept cryptos? Is it a legal tender in your country? Can you Hold Fiat and make profits out of them the same way you make profits from HODling Cryptos? I believe we can go on and on if we want but simply Imho, they are not the same.

That's right.. obviously cryptocurrencies are not fiat money.. they are very far away.. Even though they can be used as a means of payment for buying something, crypto is not fiat money. The value is clearly different. Fiat currency will remain the same in value . While crypto is more volatile.. it could be that we store it the higher the value .. so we can benefit from it.

At present, legal currency is closely linked to Bitcoin. Now we pay salaries, buy things with legal currency, and also invest in cryptocurrency with legal currency. If there is no legal currency, our access to cryptocurrency becomes very small (the boss does not use cryptocurrency to pay salaries) then there is no condition to own cryptocurrency.
However, the characteristic of cryptocurrency is that the legal currency does not, and the legal currency also has the advantages that the cryptocurrency does not have. Both can exist together.

I do think cryptocurrency and FIat are definetly different, Not every merchant even accepting bitcoin and i do think crypto is so volatile and more like asset of investments rather than currency. Its true the technology behind cryptocurrency is so magnificent but i do think a lot crypto are not good for purchasing, i do think soon stable coin from central bank would help the transaction but will people use it? cause goverments will be able to trace all your transaction.

I have never have thought making deposits on my bank account a while now since I have almost all my coin bought before the Government disallow the deposit and withdrawal through banks, now I wonder how gullible I will be to live my iddle money to banks with zero interest rate.
I will choose over crypto everyday in year and that's how the cycle will continue until perhaps we will have a stable coin adobt by Central banks and bitcoin Wil no longer be a threat to the governments.

If the government of the state resorts to such measures, then there are good reasons for this, because believe me, no one in their right mind will just do such a thing and undermine their own banking system and, accordingly, trust in it. Another question is that it is simply not necessary to bring the matter to such situations and then questions arise about the correctness of the previous actions of the agency and its competence. Unfortunately, the current financial system in many countries is unstable and leads to high inflation in some countries and negative interest rates in other countries, and both are abnormal phenomena and investments in bitcoin may well smooth out these unpleasant features of the modern economy, but still there are also pitfalls and you should not consider bitcoin a panacea for everything.

Although the legal currency fluctuates, the fluctuation of domestic legal currency is invisible. It is not possible to buy a house today for tens of thousands of dollars, and you can buy a house for a few thousand dollars tomorrow.
Cryptocurrency is relatively free. Purchases and transfers are anonymous, and privacy is well protected.
But now the two are inseparable. You need fiat currency to exchange for cryptocurrency. When you need funds in your daily life, you can exchange cryptocurrency for legal tender.
So the two are not comparable. They are all payment methods. You can choose your preferred payment method for payment.

According to Terry, cryptocurrency is a solution to resist inflation, and defi is a superior financial system to avoid sovereign risk.Read More：https://medium.com/coinmonks/on-the-sustainability-of-decentralized-finance-d9aa82dd2fcb

from the use, both are the same but from the control, it is much different.  cryptocurrencies are controlled by people, while fiat is controlled by the government.  those who use cryptocurrencies are completely free with their assets and can send funds anywhere without any hassle.

Well these are totally different from each other not some there are many differences between them. apart from the differences that you have mentioned both have their own advantages and disadvantages.
Being decentralised gives bitcoin the advantage but due to some scams there are some disadvantages as well.