Bitcoin Forum

As we all know, bitcoin has been trending for a long time now and has been recognized by nation's and individuals globally. Irrespective of the fact that bitcoin is a digital currency, it is highly volatile and risky and if you must invest in it, you must use your spare cash or funds which you can be able or afford to loose. Many people use bitcoin as store of value ie they use it to store their assets and wealth after converting from Fiat to bitcoin. It is otherwise a savings account to many as they see it so. With bitcoin your privacy is guaranteed compared to the Fiat which you must pass through processes before having access to it.

Fiat is stable enough to sustain it's monetary value but can not guarantee a stable economy as it was designed for. Fiat exchange value varies between nation's as it is measurable in the economical value each nation has and is contributing to the global market GDP but as a national tender it is, it is still of value because that is the only means by which one can exchange for goods and services compared to bitcoin depending on the country in which you are if they truly recognizes bitcoin as a legal render.

As bitcoin is, it has the tendencies to appreciate high in price compared to fiat which is stable, bitcoin has no third party custody unless you have it stored in exchange if not you are solely incharge of it which means you have your private keys and phrase under your custody compared to the fiat which is been held by banks and other financial institutions.
As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

You opinions and thoughts are welcomed, let us discuss.

OP please add some paragraph on your post. It is not easy to ready as everything looks junk when seen on a mobile device or a laptop.

Please go through this thread on [urlhttps://bitcointalk.org/index.php?topic=5136703.0]Forum etiquette [/url] before publishing a topic. It will encourage other members to respond to your topic. Otherwise most of them will ignore such badly written post.

I wouldn't go that far, I prefer to have both of them. While I use fiat for spending it for our daily needs, I've got bitcoin for the sole purpose of being an asset and investment of mine that shall be held for a long time until I decide to start selling it.

I'm not thinking about that anymore. What's good with the situation right now about bitcoin is that, there are more people that do like and know it unlike years ago when it's being feared upon of related to illegal activities and dark marketplaces. But today, it's all good and way different and likable by many.

If I'm given an option between Bitcoin and fiat, I will rather go for Bitcoin, reason being that it gives me the opportunity to be in charge of my fund, volatile and has the potential to increase in value as time goes by.


So in regards to your question about, my take about Bitcoin is that Bitcoin has come to stay and not going anywhere anytime some, and the earlier you invest in it today, the better for you and your future.

However, 2 countries have already legalized Bitcoin as a legal tender (I.e El Salvador & Centre African Republic), and Bitcoin start increasing in price, I'm sure to have more countries adopt it as legal tender any time soon

Bitcoin is often seen as a decentralized and secure digital currency that has the potential to provide financial freedom and protection from government control. On the other hand, fiat currency is controlled by central banks and is subject to inflation and other economic fluctuations.

As for the question of how long it will take for Bitcoin to be accepted as legal tender worldwide, it is difficult to give a concrete answer as it depends on various factors such as government regulation, adoption rates and technological advances. However, it should be noted that Bitcoin and other cryptocurrencies are gaining more general acceptance and use, with some countries even considering their own digital currencies.

In terms of preference, I think it depends on individual goals and circumstances. If someone values privacy and sovereignty over their finances, then Bitcoin may be the preferred choice. However, if one values stability and predictability then fiat may be a better choice.

No matter what fiat does, I prefer Bitcoin. Since ive known bitcoin, Ive been able to do a lot financially by my self. Bitcoin serve as a source of income for me in several ways. I thanks to the developer of Bitcoin and the ones who generated another kind of asset via bitcoin code.
So, to cut the story short, its Bitcoin

Bitcoin being a legal tender is just a matter of time but the driving tool will be the government. Once the government starts to see bitcoin as an alternative to fiat and not a currency that is here to bundle fiat away then we could see bitcoin being legal tender fast. But as it is the government want to control everything monetary and their constant threat to once privacy will take bitcoin longer years to being legal tender globally. Personally I still both bitcoin and fiat been used together because most people in rural areas still can’t have access to bitcoin because of lack of internet and its knowledge.

I should I offered to take any of the two I will just take any because no matter how I see bitcoin as a store of value I feel one needs to hold on to fiat for daily expenses rather than selling of one’s coins whenever there is emergency. Moreover one could easily convert any of the two to the preferred one, so it isn’t a big issue having to accept any of them

You can see how purchasing power of the US. dollar and Bitcoin in following sources and make your decisions.

Purchasing power of the US. dollar over time (https://www.visualcapitalist.com/purchasing-power-of-the-u-s-dollar-over-time/)

Then looking at two charts to see how Bitcoin purchasing power increases since 2009.
satoshi per dollar (https://buybitcoinworldwide.com/stats/satoshi-per-dollar/)
Bitcoin vs fiat currencies (https://buybitcoinworldwide.com/stats/bitcoin-vs-fiat/)

Do you have your answer after all by knowing that Bitcoin is upward and fiat currencies are downward in their purchasing powers?

When you read deeper, maybe this is no longer a matter of choice. Because what you're looking for is safe, inheritable hedge storage. As we now know, third parties can be regulated in various forms or methods. For example storing the phrase seed in the SDB including fiat account wills at once. So I would choose both to balance ownership while maintaining fiat or Bitcoin value.

It's centralization and decentralization matter, privacy has nothing to do about this.

Yeah you can achieve a complete privacy with Bitcoin, but you're forget if we talk in general most people don't care with privacy and they're give someone an access to their coins e.g. store it on a centralized exchange. Almost people are kill the Bitcoin's purpose, but if you're hoping a government to accept Bitcoin as legal tender, you're also kill the Bitcoin's purpose.

Immediately after reading this thread what came to my mind was actually this picture that you posted.
But I didn't know where exactly to get the picture but when I scrolled down I was happy that I saw the picture already posted.
The matter of Bitcoin and Fiat choice is no longer a debate but is a matter of a decision and matter of the level of information that is available to the choice maker.
Someone that is not informed or acquainted with the latest happening in the society would always trust the fiat and would always trust their bank and government to keep his money till 5 to 10 years or 15 years as the case may be.
But someone who is more exposed and has the idea of Bitcoin and cryptocurrency would say that the other man is just being dumb.

Would rather prefer to have them since both fiat and Bitcoin have different use.

So would still use fiat for buying my need since there's no merchant on my city yet accepting bitcoin and it so hard for us to use only bitcoin for this matter since for sure we might struggle to get what we need for a day. While for bitcoin I always using this on investment matter or even to transact this online and yet its so useful since this is more convenient and yet profitable in some ways.

Bitcoin is a popular currency nowadays.  So Bitcoin is preferred by many but there is no obligation that everyone will accept it. Since Bitcoin is not a stable coin, there is a possibility to earn a lot of profit by holding Bitcoin but on the other hand Fiat is not a stable currency whose price will never increase.  But for some reason, the value of country-based fiat may decrease against the dollar. So many may opt for Bitcoin in hopes of profit.  But it will depend on a person's condition.  If a person has enough money for daily spending, then he will definitely be interested in accepting Bitcoin.  And his thought will be to earn more profit by holding Bitcoin.  But if a person does not have enough money to run their daily expenses.  But he will definitely choose fiat to run his daily life in the present without thinking about his future

As a rationale and practical move, I think the best thing to do is to have both Bitcoin and the usual cash currency. Bitcoin for the future and fiat cash for today. Go for Bitcoin to hopefully combat the ever-increasing inflation affecting many people around the globe and of course cash for daily needs. I am sure that fiat will continue to be here for as long as we have the government still around. I am not wishing for the government to go because I know that there can be chaos once there is that vacuum and who knows who or what will be filling that empty space once it is gone. Investing with Bitcoin does not mean that we have to choose between it and fiat cash.

Privacy isn't guaranteed when you use BTC, it is the user that has to guarantee their privacy by using decentralized services. Centralized exchanges has the highest trading volume, most people buy and sell BTC through these exchanges, and to do so you must tell the exchange who you are and where you are from; KYC is a must, and even in some of them that don't require KYC for small amounts, you must be ready because they can ask for it anytime. So if most bitcoiners buy and sell from centralized exchanges, they have lost the privacy you are talking about.
I use the both. If you have a job, you would be paid in fiat. To buy most of the things you need, you have to do so with fiat. You cannot hold all your assets in BTC even if you feel you prefer if to fiat. BTC may never be a legal tender worldwide, especially in the developed countries with currencies that are used as reserves around the world, like the USD for example, why would the USA want to make BTC a legal tender? All we need is for BTC to remain legal in most countries and then mass adoption becomes possible in the future.

So, if you're thinking of investing in it, you should be prepared to use your spare cash or funds that you can afford to lose.

That really interesting to see how some people view bitcoin as a store of value, almost like a savings account.

And it's definitely true that bitcoin offers more privacy compared to traditional fiat currency. But then again, fiat is stable enough to sustain its monetary value even though it can't guarantee a stable economy.

In my opinion, it will take some time for governments all over the world to fully recognize and regulate bitcoin. But given the current trends, it's entirely possible that we could see bitcoin becoming more widely accepted in the near future.

I personally find the concept of bitcoin to be fascinating and I think it has a lot of potential as a means of exchange and payment for services rendered.

The problem here is most of the governments in the world already recognize bitcoin but they are afraid to even talk about it in public since the more they talk the more attention it gets and they dont want this. They will loose control over us then.

I think it is already widely accepted atleast by the institutions :D This resulted in both a blessing and a curse as we see massive correlation with spx and powell's speech since then.

I'dn't object to the use of any currency, they all function as they were created. I use fiat because of my obligations as a citizen, and I use bitcoin to support some of my financial rights.

If bitcoin offered privacy by default, you probably would never promote the service at your current profile attribute.

It entirely depends on what choices I will be given. If the choice is given for my salary, I will stick to fiat and not bitcoin. If the choice is given to get a monetary reward, I will choose bitcoin. The reason is quite simple!

Salary is needed for survival but rewards and extras are saved for the future. So for survival I can't afford a volatile currency but for future, I can take the risk if survival is being taken care by something else.

Because they don't have good comparison. They just heard something like fiat currencies are real, Bitcoin is virtual. Fiat currencies are better than Bitcoin but how it is better, they don't know.

Seeing two charts and telling what they think is better and don't see those charts and try to imagine differences and say something not true.

With recent bankruptcies of some banks in the US. and Switzerland (Credit Suise), maybe some of bank enthusiasts will change their minds. Hopefully they won't lose all their life savings in those banks. Some people trusted banks and got broken.

With Bitcoin, they don't have to trust any CEO and won't get rekted easily like that.

Bitcoin adoption, in my opinion, could take as much time as we can imagine. As long as the blockchain industry is unwilling to compromise with the government and maintain a state of centralization, we can only hope for its adoption. It will happen eventually, but it will take time. Blockchain and cryptocurrency are a new era in this technological age, and their ability to temper with government means of centralization will only lengthen the time it takes for them to fully accept it all over the world.

It is obvious and the possibility is certain that blockchain would likely be compromised in the nearest future already some blockchain already request for kyc before holders could transfer their coin to their wallets which is not the real reason Satoshi Nakamoto invented the blockchain and bitcoin the Genesis.

Talking about centralization and decentralization, that would be near impossible to overlook because in one way or the other, both serves blockchain and the users. Centralised exchange which I see as the government arm of blockchain organization are very set to fulfil the government policies because they are licensed to operate by the government so therefore, they are against the anonymous or pseudo transactions which the government sees as a threat to them. On the other hand decentralized exchange does not require your identity only just a wallet connection to Carry out your transaction which the government is against so they could keep monitoring owners of funds and assets. This was the real plans of Satoshi.

You mentioned that fiat is less risky and volatile but this is not true with all the currencies of the world. The Dollar and other top currencies might be stable but some currencies have lost almost 100% of their value. There are currencies that are more riskier than Bitcoin. You hardly find any trustworthy people these days. Even your banker can mastermind your kidnapping or robbery. This is why privacy is paramount to me and I choose Bitcoin because of that feature.


Fiat as an important medium of exchange in most nations which is its most important function. Due to government policies and restrictions on Bitcoin transaction, fiat has become the mainstay of most economies. Hence the reason why Bitcoin is valuable to me is because most businesses don't accept Bitcoin in my location.  


It's a thing of joy to own a currency that the price go up and not the one that constantly depreciates and never appreciate. My country's currency have never recovered its lost value for the past twenty years. Even the so-called reliable and big banks are going down, so what's the hope of banks in developing nations. It is better to own and control your assets and currency than to put it in the hands of unknown individuals.

The acceptance of Bitcoin as a legal tender globally will not be immediate. Now just two countries have recognized Bitcoin as a legal tender. Gradually more countries will join the train and more nations will keep joining when they see the positive impact in other countries. Therefore, there is no specific time line for this to happen.

It may still take a long time to get more countries to accept bitcoin as legal tender. But I'm optimistic that one day it will happen.

but if I have to choose the one that I like more between fiat and Bitcoin then honestly I prefer bitcoin because this is not a centralized system. where I have complete control over it.
but if I have to choose which one is more practical at this time to do as a means of payment then fiat is of course still an option. because bitcoin is currently more suitable for me to store my assets for long term investment.

and when it comes to fiat for long-term storage then I hope we avoid it. because the value of fiat continues to decline from year to year. Please remember the price of things you could buy as a child for $ 1. but then now you hold $ 1 so it is not certain that you can buy the same things that were bought when we were little. even fiat in my country is declining in value. I remember when I was a kid $0.1USD would be enough to buy 15 pieces of snacks. but currently $0.1USD is just enough for one snack. please conclude.

Bitcoin and fiat are different but sometimes serve the same purposes as legal tender. To be more specific, bitcoin serves as more of an investment than fiat, which is primarily used for purchases. Nevertheless, both have advantages and no matter the circumstance, one cannot function without fiat. For example, consider what is currently happening in Nigeria, where the new monetary policy is attempting to reduce the circulation of cash but is actually having an effect on almost everyone, meaning that the police have a significant negative impact on almost everyone.

Acceptance and adoption mean two separate things. People will soon get to agree that there is something called bitcoin, it will have recognition, but it will take some more time for these people to also decide to start to use it. Bitcoin will be accepted sooner than it will be adopted. To facilitate this process, you can engage in or start little activities that promote bitcoin and why people should use it. Before people will adopt bitcoin for use, it means they have accepted it, but if people accept bitcoins, it does not mean that they will immediately adopt it for use.

I think the saddest thing is that bitcoin does provide some sort of privacy compared to fiat, like at least it's not your name that is out there forever, but it is not providing it 100% at all, it provides more than fiat but it is not fully hidden, it's just a thing that is better but not the best.

This is why we have these extra additional companies where you could use their services and could make money the way you want and you could hide your wealth and you can move it around without worry. Those type of things do exists in fiat world as well but usually illegal, which means that you could end up with a lot better result using bitcoin and mixing instead.

We live in a world of variety where one rarely needs to choose one thing over another. I'd gladly choose both fiat and Bitcoin. Fiat is relatively stable, and I'd also want to use my country's fiat because I want to support my country this way during a very difficult time it's having. But Bitcoin is more private and largely quite convenient. If I could use it directly for payments for my basic goods and services, I can't say I'd always do it, but I would certainly do it from time to time. Bitcoin is better for savings because it grows in value over time, unlike fiat, but fiat is way more known and accepted, which is also something that matters when making a choice.

The times are changing from fiat being preferred "because it is stable". Inflation is here, prices are rising...your dollar might seemingly always be worth one dollar, though its buying power is shrinking and the amount that you need for your necessities is ever increasing...no matter where you live. If Bitcoin was much more adopted by businesses around the world, this topic would be laughable. That's the only missing link right now before Bitcoin properly takes the stage.

 Bitcoin has been gaining more acceptance and recognition as a legitimate means of payment and store of value. Its decentralized nature and ability to provide greater privacy and security to users are some of the key features that make it appealing to some investors and consumers.

It would depend on a great deal of factors to be honest, but if the question is which transaction would I trust more, one where dollars were put in my bank account or one where BTC was put in my wallet, I would very obviously choose the BTC. Anyone familiar with accepting money on the internet is familiar with chargebacks…

The two currencies goes together and they can't do without each other. We must change our fiat to purchase bitcoin and when we want to spend our coins,we must change it to fiat currency before we can use it worldwide. Bitcoin is gaining more recognition and adoption because of its unique features.

I will love to have my savings in bitcoin and maybe my pension so that when inflation hits fiat currency and depreciate it my investment will not be affected, since Bitcoin can survive inflation and the value will remain the same,meaning your financial life is secured. Fiat is necessary for my daily spending because it is not every commodity that you can buy with btc,even though your country has adopted it as an alternative means of payment.

For bitcoin to be adopted by the whole country as a legal tender will be impossible by government because of its volatile nature. Imagine if you are paid $500 in bitcoin for a job and the next money,bitcoin dumps 2x lower. Nobody will be happy with such,Bitcoin is good in a long term run due to the cycle movement of it.

The use of fiat has been around for a long time and has been recognized by the whole world, while the use of bitcoin has indeed begun to be recognized. But for the use of bitcoin, I think it depends on the policies of each country. I prefer fiat as a medium of exchange or payment in a country rather than bitcoin because I choose bitcoin as a future investment.

If you ask how long bitcoin will be accepted as a digital payment instrument, it depends on the governments of each country. All regulations regarding the use of money will be under their control. The government can decide whether the use of bitcoin is legal or illegal and we citizens can only comply with it. Maybe we as bitcoin users, see the great potential in bitcoin but if our government has not approved it, we cannot protest against them.

Of course bitcoin. There are some years already that I totally exchanged my savings into bitcoin and no longer hold fiat, besides the amount I need for daily expenses. I did this after concluding I was just losing purchasing power by holding fiat on my bank account to earn interest inferior to the inflation of the country. So far I have no regrets for doing this.

I just have to control my emotions and finances in a way I'm aware I might not be able to spend money as I wish on the moment I wish, due to the bearish market which pushes bitcoin downside. The cons is that it freezes life a little bit, but on the other hand I have the certain I'm building something more valuable and worthful on long term.

From what is happening in my country, whatever way you put it bitcoin option is the best now. My country introduced cashless policy and as it now the country economy is getting worst every day. If countries introduced online transaction and bitcoin is already an online currency then bitcoin is the best whether there is risk or not. If people want to use their personal money to invest in bitcoin, mate I advise them to use it whether the amount is big or small. If they are not taking loans from someone to invest there is no problem. Fiat is frustrating people every day and night.
The risky of bitcoin is in trading and not on the hodling. If you are hodling for about 5 to 10 years then you don't have anything to worry, you just relax and top up the wallet at anytime of your choice. Bitcoin is the preferable online currency.

Bitcoin is the currency for most of the crypto community regardless of use in real use cases offline or online. But so far I haven't been able to use bitcoins as legal tender in the jurisdiction of my country. Bitcoin is an investment asset, I tend to think that way as long as the government hasn't legalized it as a currency.

I don't know the future, but it's very likely. Increased adoption and softening of some rules in various jurisdictions have made bitcoin increasingly popular as a means of payment.

I can hope that in the next 10 years many countries will consider bitcoin as a means of payment, but of course the government will regulate it in such a way that bitcoin users are always in the centralized zone of their finances.

I'll play the devil's advocate and for now would choose fiat. Other than the fact that it is controlled by the upper echelons (pretty much like bitcoin in a way), Fiat is well, what you use for everything basically. Purchases, loans, availing services, the world is run by fiat. Bitcoin as it stands today would prove superior to fiat only in valuation, given the fact that it is one of the most valuable assets in today's age, oh well let's count portability too since you can transfer bitcoins easier than fiat (for me) but everything else, fiat remains at the top.

What could change my mind, well make everything purchaseable with bitcoin, then we'll talk. But until that day comes, I'm not gonna be a visionary and pick bitcoin over the more accessible and more rampant fiat.

Why I can’t choose both of them ?

I love bitcoin in its own way and fiat is my choice because I have no choice from the government itself and if I need to buy daily food then that’s the option for me (practically). There is no choosing between bitcoin and fiat. I never consider them competition. Rather both of them should be used it intermittently. While one is traditional currency that has powerful reserve around the globe, other is technological advancement which can give you ownership of your data and have its integrity on public ledger.

Idk, but I see both of them having their own roles in perspective of how they are getting used. Yes I would go for choosing if situation arises. Let’s say I need to roll a payment to someone overseas to whom I know then definitely I’m going to choose bitcoin. Because certainly I have that option now. However if it’s normal transaction locally I would chose fiat only. It is that simple for me and really let’s stop competing both of them.

I've been thinking for a long time about the Excess that the most basic and reasonable bitcoin has to date. So I've come to the conclusion that it is an identity in retaining value that no other investment model has.

As long as possible before the collapse of centralized and government-regulated fiat currencies, without which it will not be easy and impossible to achieve global mass adoption of bitcoin as a legal means of transaction.

There are many countries that do not accept bitcoin, either as a commodity asset or as a legal means of transaction, so to study and find out how long bitcoin will be accepted as legal tender will be very difficult. It is not so important to me how long bitcoin will be accepted as legal tender, because if more and more countries start accepting this adoption then I believe the volatility of bitcoin will not be as expensive as price it is today.

Even though the value is very volatile and still has a high risk, Bitcoin is definitely preferred by most people who already understand and understand how it works. But we must not be hypocritical that at this time, of course, we like and still really need fiat to fulfill all aspects of life and our daily needs. Even now for us to be able to get and have Bitcoin with a decent nominal we will issue fiat to buy it.
I think it's possible that one day Bitcoin can be used globally to be truly fully accepted as a legal digital payment instrument in every country in the world, but of course we don't know when that will be achieved and it may still take a long time. Because we know there are still many pros and cons to current judgments about Bitcoin.

FIAT money has a depreciating value.  $1 now isn't the same as $1 10 years ago or even 100 years ago.  This is a problem for the lower middle class.  Also a problem for us today.  In the past, the salary we received was worth an example of $ 1,000. You could spend $ 600 for your daily needs, but now your thousand dollar salary will be used up entirely for your daily needs, which is the same as in previous years.  This is an irony of FIAT money.  That's why I have thought that the way for us to be successful is to make investments such as stocks, bonds, gold, or Bitcoin.  Hope it helps you and thanks!

 I hold the two for different reasons and purposes. I use bitcoin for investment purposes not for making any daily transaction related. But for fiat, I hold that for my daily transaction which is for my basic need. I will love to hold the two even if bitcoin is accepted as a legal tender in my country.

I guess I’m greedy and would very much prefer to have both, thank you ;D. But if I had a gun to my head and being forced to choose one, I think I might just go for the option which I could easily use to purchase whatever I would want aka Fiat currency.
Unfortunately, bitcoin is not accepted or used worldwide and as much as I would have loved bitcoin as a mode of payment, I would go for something I could use anywhere anytime.

Besides today, there are only a handful of vendors that would accept bitcoin as payment for services rendered as majority would accept fiat and so one would eventually have to exchange your bitcoin to fiat in order to make purchases.
While bitcoin is attractive enough to acquire and hold cause of its many advantages and potentials, I think it’s safer to go with what is globally accepted and used. Thankfully, there is no gun to my head and I don’t have to choose between the both of them.

BTC is unlikely to become legal tender around the world as governments in many developed countries are now creating their own CBDCs. They’ll promote their CBDCs and hold back mass adoption of BTC.
But that doesn’t mean that people and companies themselves won’t want to accept and pay for many goods and services with BTC. Only in most cases it’ll be done through conversion to fiat (or CBDC), as before.

Let us accept the fact that right now, most governments won't accept btc as legal tender as they have their own fiat.
They may create their own CBDC to cope up with the digitalization of currency.
I can say, I am just grateful to know the bitcoin world but the truth is we still need fiat in our everyday living.
The volatility factor is one of the features of btc, which is good for investment, whereas, fiat is still the mainstream currency to do all our daily transactions.

We cannot compare the two of them since they are both different when it comes to people's perspective.
Fiat is the money that we are using for our expenses while crypto is being used or seen as an asset or investment.
Others do consider crypto as money and use it to pay whatever they want but that doesn't apply to everyone of us.
Even if crypto could be used or accept as a payment method not everyone would use it as a payment option.

Certainly I prefer Bitcoin. Bitcoin is the new FIAT, money v2.0 or whatever else you can call it. It's just superior to FIAT in every possible way, starting from finite supply and being a deflationary asset to being unconfiscatable and better for anonymity and privacy. How can you even compare it to some sorry FIAT?  ;D

When it comes to fiat, you don't have the option to keep your cash yourself in an online wallet, rather you need a 3rd party platform like a bank or any online payment service to keep your money. Where in bitcoins, you don't need to have those things rather just one unique bitcoin wallet can suffice for you and you don't need to worry about your fund getting stuck in the bank when they want to hold it, in bitcoin personal wallet, there's nothing like that rather you have all the means to control your funds whenever you like and also you can take it all at once without any problem at all.

I'm responding through the caution or subject of the thread, base my personal research on the bitcoin and fiat currency,  its very obvious when you emphasis on the aspect preferable currency many people will prefer fiat currency than bitcoin because its very obvious that fiat currency is a traditional currency in which many people has been acclimatised with, and before they can leave fiat and trust fully on the bitcoin it will take years, this illustration is been portray by me based on the existence of fiat currency has been in worldwide for years and the bond people have with fiat is like 85% than the of bitcoin. The people who value bitcoin mostly is the youths because bitcoin is called for easy transactions across the nation.

They don't even have to accept as legal tender. That's enough for us if they stop putting unnecessary restrictions to use Bitcoin as money. In my country I can trade Bitcoin legally but can't use it to buy any goods. So I have to sell my coins to get national currency and spend it. How silly it sounds, right? For that reason I always have to allocate some fiat money to regular expenses.
There is no need to even make comparisons on the investment side. While one side is constantly losing its value, the other side is gaining in value in time.

between Bitcoin and Fiat each has its own charm, reasons to be liked, and of course has its own advantages and disadvantages. i think being able to have both is a good thing for all of us.
In my opinion, Bitcoin does have good potential, but Bitcoin is very risky because it is fluctuating and unpredictable and currently not everyone knows and can use it because it has not been fully accepted in every country.
while Fiat has been used by everyone around the world and for all of us Fiat is like the main need to buy whatever we need everyday.

I don't know, it's too early to judge, no one can predict when and whether Bitcoin will eventually be accepted as legal tender worldwide.

Looking at the two options, none of them are irrelevant. Both currencies are more valuable as they are of economic importance in the society. If it is to choose, i would prefer to choose both of them reason being that; fiat is the general local currency known and accepted by the government and the people, it is used in the day to day activities and most popular as it is the first to be confirmed as a legal tender. The fiat has been in existence since ages before the inception of the bitcoin while the bitcoin is a modern day digital technology designed to function as a digital currency globally. The bitcoin is yet to be adopted globally but to some extent, it has been recognized and the people are aware of the benefits involved. Bitcoin can better serve as a store of value.

I will choose both for now because I can support myself and my family with fiat, while with bitcoin, I can have additional investments in crypto.
It will complete my life to prepare my future better.
And I haven't imagined using bitcoin for everyday life because not all online or offline stores are willing to accept payments using bitcoin while they still use fiat.
And I also don't know how long it will be until bitcoin can be accepted as legal tender worldwide because it depends on the policies of each government.
Therefore, I chose both rather than just choosing a fiat because by owning both, I believe that my life will be better in the future.

I don't think both are not important as far as I am concerned. Literally, I can say we have the best Investment asset alive now i.e. BTCitcoin, and if you are talking investment you are definitely looking at returns which to most Bitcoin investors is the amount in Fiat currency they can get to spend on personal needs and that is just about a lot of countries where you cannot spend Bitcoin directly on daily needs.

As you can see that both are important even if it was just in this term. 

True. Most of us can't use Bitcoin directly anyway in our countries I think. It's possible to buy something only maybe, but not food or clothes. Even if you get only Bitcoin you need to withdraw it to use.

Choosing both of them is not bad, it is a good idea because both of them are still very much useful and recognized but one recognized than the other and they are still of good value. The fiat as you have said I locally acceptable by any given government based on their fiat arrangements and value while the bitcoin on the other side is a digital currency which is globally recognized but many are still yet to adopt it which is where the barrier lies. Most firms and organizations are yet to look into it as a legal tender because of its volatility. However, many see it as a store of value irrespective of the fact that it is volatile. If one can just invest in the bitcoin for a long time and do away with the thoughts of it, I think it would be okay while being engaged in other activities.

if it talks about being safer to store then Bitcoin is indeed safer. because As long as we keep it in the wallet with the restorer phrase in our hands and no one knows but ourselves. and means we are in full control of our bitcoin assets.

different from money that we can only keep in physical form or if we save it in a bank, we have actually handed over control to the bank. even if at any time suddenly the bank goes bankrupt there is not much we can do.

but because currently bitcoin has not become a legal tender in almost all countries except in El Salvador. then we also have to realize that we must always exchange our bitcoins to fiat first to make payments. so Fiat is still the most important thing today.

There are pros and cons to both, but most people will choose both because, first, you can't still purchase almost everything using bitcoin, and it is also banned in other countries, while fiat has been widely used ever since and is really established, although, as you know, there are still loopholes in it. So I would be choosing both of them because I use bitcoin as an investment and fiat for spending to meet my needs.

Both options are good.For me Bitcoin is another asset for savings and also a chance to increase capital,but there is also a chance that I can lose in price and have to wait for the price to return to its previous value, yes, this is a risk, but I'm ready for it.Bitcoin has both pluses and minuses as an investment a big minus for me is that I will not be able to quickly convert it into the national currency it will take several days.for me, this is the most fallback option that takes time to convert.

I think it's impossible to completely abandon fiat money now. You can make everyday purchases with it and not worry that somewhere your money will not be accepted for payment.

Bitcoin is needed for investing and saving money. I can't just spend bitcoin on some trinket, because I hodl it in the long term. I know I won't be selling it anytime soon.

Obviously, it's now more convenient to use both Bitcoin and fiat money.

That’s a way lot safer. We can never guarantee that bitcoin will always be secure and stable, so we need fiat too so we can balance whatever wealth we opt to gain. For me, that’s more practical way of thinking than to stick with bitcoin because of its current high value. We don’t need to replace fiat for bitcoin, we need them both for  better security and stability of our ownership particularly in our finances.

The problem with bitcoin is still the high fees, I mean I you only want to spend $1 then doing it with bitcoin is not a good business because the transaction will cost more than the sent value. And the solution for this is to use a cheaper transaction coin like Dogecoin.

And to I'm not sure if bitcoin will be accepted as a digital legal tender worldwide, just because the government can't control it, and that's why they hate it. the "Be your own bank" movement is the way to fuck the governments, so, bitcoin is user-friendly but anti governments.

I prefer BTC, but I am dependent on both to different extents. I use FIAT way more when compared to BTC for obvious reasons, but I still prefer BTC over it primarily due to its decentralised nature.

FIAT is my first preference for payments while BTC is my first preference for short-term and long-term investments.

I hardly think it matters much in the short term, fiat would still be the primarily used payment method by the majority of businesses so no matter how much we hate its model or how weak it is in comparison to Bitcoin, we'd still use it for a lot of payments and whatnot. In comparison, if you don't mind the volatility and just want to stay away from banks, you can move the majority of your funds to Bitcoin and store it in a wallet. The majority is because as I said, a lot of payments would still involve fiat, so it's necessary to keep some for immediate use.

I'd welcome businesses accepting Bitcoin anytime though.

I don't think that the choice between fiat and bitcoin should be so tough. Without fiat, we still can not do. After all, even the price of bitcoin is valued in fiat. The national currency of the states as a whole is tied to the material values of the state, which may be in circulation. Therefore, no matter how much the cryptocurrency spreads, fiat will not disappear anywhere. States under no circumstances will not give up their national currencies. Cryptocurrency can only occupy a certain niche in the financial sector of the global economy and be a good alternative to the current fiat system.

I would agree with you as per the current situation, because fiat currency is currently ruling the world. But for the future the matter may be different, it is expected that Bitcoin or Cryptocurrency will take this place in the future. So currently both bitcoin and fiat currency are on demand. In the future Bitcoin will no longer be measured by any other currency, and that is why the world is slowly moving towards the realization of the slogan 1 btc equals 1 btc.

For sure it might be a different game in the nearest future as bitcoin will definitely gain more traction to sustain it's existence globally. As it is now fist is someworth powerful because it is the local and existing currency nation's uses as a legal tender but bitcoin is yet to be adopted by most nation's. However, both currencies are very much active and acceptable irrespective of the fact that bitcoin is digital and likened to be an investment currently which I know in the nearest future, it will be seen as a currency for means of exchange.

Bitcoin is better than fiat but I'm part of the school of thought that believes that bitcoin and fiat should coexist. You don't have to choose between them at all times. Before buying bitcoin for the first time you need fiat. It's fiat you'll use to purchase your coins. Nothing stops me from using fiat in my day-to-day while using bitcoin as my store my asset. I don't believe the purpose of bitcoin is to replace fiat and I also bitcoin and fiat can coexist.

I honestly do not know how long it will take for bitcoin to be accepted as a digital legal tender globally but the good news is that bitcoin has made a lot of progress. A lot of people that that thought bitcoin was the next worst thing after cancer are beginning to see that they were wrong all along about bitcoin. A lot of misconceptions about bitcoin is being cleared out. It might be a while but at the rate we can be hopeful. It will also do us good to know that it may not happen in our lifetime.

It is true you have said as bitcoin and Fiat coexist. With fiat, you can buy bitcoin which means the two needs each other to exist. In reality, fiat is generally acceptable by government as they approved of it as a legal tender while bitcoin is still on course to get adoption approval from government while already accepted it as a means of payment. Although bitcoin since it's inception has been on a steady rise in popularity as many are aware of it and the acceptance is fast growing. Definitely, just as you have said, bitcoin would gain it's acceptance globally with time.

I would also choose both, I can't give up either, fiat is still very important and necessary. Without fiat, I wonder if we would be willing to use bitcoin everywhere? In my country, a cup of coffee costs only $0.40, and I don't want to pay another $1 in fees for my coffee transaction. In that case, with fiat, I don't have to pay any ridiculous extra fees.

If I'm sandwiched between these two options and my country (Nigeria) has a liberal policy on cryptos (at the moment she doesn't have) and I can find vendors who accept Bitcoin or stablecoins, I would kiss fiat goodbye for good. Honestly, nothing compares to using Bitcoin to fiat. The convenience and ease that cut off middlemen is second to none. On occasions I did Bitcoin transfers to trading partners they were very convenient for me. I think a time will come when more people will see this aspect of Bitcoin and make that switch to its use.

At this point it's not an option of preference to choose between the two, as I believe Bitcoin and fiat exist as compliments to each other as they both have different strengths that will be of use to us one way or another.

But we can't run from the fact that Bitcoin is still not widely accepted as a daily mode of payment like fiat is and if am to choose here,it will have to be fiat for its convenience.

I guess we are all going to pick BTC but couldn't have said it any better than you did  :).

Correct! Why would you guys crack your minds just to answer this kind of question, of course, both are important and choosing which one of this is more important or preferred possession is not like we're choosing what to eat in breakfast. It's not like that.
Bitcoin has its own reason why it is important to us today, for most, bitcoin will be give us a certain hedge against inflation and as a form of investment. We can't just take out fiat and let bitcoin rule the whole currency.

This is reality check.
I bet most of the people here would still prefer using fiat on daily transactions and will just use cryptocurrencies as a mode of payment on big transactions to avoid taxes. But on a regular basis, people in this industry will make use more of this industry for investment purposes which is not a bad thing to do especially if in such way they'd be make use more of the potential from this blockchain.Using it on small transactions will jist put an individual into guilt from doing so. Most of the people here would be seeking for profit more than essence of this industry as an alternative mode of payment. Considering preferences, some would say they're more interested with using cryptos due to its profit potential and not because of the convenience it gives to users.

I'm amazed how many people think "legal tender" status is supposed to be the barrier to entry for crypto when legal classification could not be any less relevant than it already is. Legal classification of "legal tender" is the government's endorsement of currency. It means nothing more. Should you incur debt by the government, you're due to pay them currency that's deemed legal tender. That does not stop P2P transactions. Most transactions are not done with the government anyways, so we don't necessarily need Bitcoin to hold legal tender status. It's not like the government would bother entertaining the idea to begin with.

That's the reality. Even now people who enter the cryptomarket doesn't have the understanding about the technology and technology its core of eliminating third parties. Based on the growth it have achieved in the short time period people are much interested and investing into it. Very few prioritise for regular transaction needs and spending with it. To get the choice as an alternate to the fiat system it takes time and people should learn more about it, because people are more convenient with the traditional payment system even though there is flaws.

You are right mate. Most of the comments here are pointing towards what you have said. You see, as Crypto is volatile that makes most people see it as a means of investment and as you have said it, some people mostly use it for payment which involves huge amount and mostly in avoiding or evading task payment for the transaction they have done. These days, Crypto currencies are seen as investment because of the potentials of making profit so not every one is comfortable spending their Crypto most especially bitcoin for trading in the name of small trade which fiat can be able to cover. Most people like it that way as they would not not be charged any fee as task for the transaction they have done.

As long as more people are supporting Bitcoin, its network will always be secure but Bitcoin never became stable as it was a volatile crypto. If you mean that it's value will crash hard, I don't think it's possible but only the opposite is going to happen the longer the Bitcoin exists because its supply is declining while the demand or the adoption is only getting stronger. Fiat can still be needed in order to buy more Bitcoins and they can be used just in case there is no internet around and we can't use our Bitcoins. On many places, Bitcoin isn't a legal tender yet so fiat will still be the one that we will be using whenever we are making a purchase of something.

First of all the value of Fiat is not stable, it is decreasing day by day all the time and you can realise it if you understand what is called inflation. But for the convenience of us we still prefer the paper so called money including myself but if there is a day where I can buy anything I wanted with bitcoin just like spending fiat then I will use bitcoin.

The savings and investments are not relevant to this because either its fiat or cryptocurrency, we need to have the knowledge about saving it then multiply it then keep letting it grow forever.

I won't be a hypocrite here.  I will take both  ;D.  I need fiat for daily expenses.  Bitcoin is indeed wonderful but at the moment I will starve if I don use fiat money to buy my basic needs for survival.  If there is a local marketplace at accepts Bitcoin then by all means I will choose Bitcoin over fiat.  But the fact that adoption of Bitcoin isn't that spread out where I can use Bitcoin anytime, anywhere to buy foods, I am still trapped in accepting Fiat. 

So until I can spend Bitcoin to buy food in my local stores and supermarket, I prefer both fiat and Bitcoin.

I have to agree with you mate. At the end of the day, we need both bitcoin and fiat so we can live a sustainable and productive life. While others pursue bitcoin ownership by using up all their fiat, it’s still best to obtain both bitcoin and fiat because aside of ownership balance, at least financial security in the future will be most likely achievable as well.