Do you prefer bitcoin, FIAT money or other?

[vankoovo]

Fiat is great but anyway I prefer Bitcoin

[fox19891989]

I prefer bitcoins, because I like gambling and poker.

You know we don't need utility bills and ID verification to withdraw btc in a btc casino and poker house. That's very convenient for us, the gamblers. 

And many casinos have instant withdrawal and low fees(even 0 fee), much better than fiat casinos' slow, high fee withdrawals.

[WhatTheGox]

Hey guys,

I've decided to open this thread for ask you now if you are forced to choose between bitcoin and FIAT money (eur, usd, yen, etc...) [1].

What will you choose?[2]




[1] Only an hypothetical case.
[2] With all the flaws and strengths of the two option.

I feel like a dirty scumbag using fiat so i would like to use bitcoin all the time but just not possible yet.  There isnt really a debate the gov and banks having control ends up with a less productive system even if their intentions were originally pure.

[Eastfist]

Gotta use what is current, thus why it's called currency. That doesn't mean Bitcoin won't become common currency one day, it's just not current today. I gotta eat.

[BayAreaCoins]

I hold my crypto money in CLAM because it gains interest and I can gamble with it if the markets rock n roll to hard.

Use Bitcoin to cash out because there are more people in like to throw fiat at it this moment than anything else.

Fiat to eat.  

I try to use cryptos as much as I can every day buying random shit and paying random bounties.

[notalin]

I don't have a choice. I will choose both. Hihihihi !

[Jace]

Wow. Never knew a country where merchants accept bitcoin as it is. If only I have BTCBTC to spend, I would definitely include the Netherlands on my list of places that I want to visit.

Highly recommended Although I have to be honest: Arnhem is still an exception here. It's definitely not everywhere like this.

Question, do you think I could survive a week in there with only BTCBTC on hand and never do a even a single transaction with fiat?

Oh yes, definitely. Easy!

Only fiat transaction you might have to do, is with a Bitcoin ATM, to buy more bitcoins

[Bitware]

I prefer fiat right now, though that may change in the future. I am a realist and live in reality... not the land of whimsy and emotion. Fiat is legal tender and we could not survive without it under current laws. Even if you attempt to live on only Bitcoin, those you do business with must convert it to fiat and use fiat to buy products and services and pay taxes along the way. Because of existing laws, you can't "live on Bitcoin." Until governments start accepting Bitcoin for taxes, fiat will rule. That said, I see a bright future for Bitcoin.

[redsn0w]

I prefer fiat right now, though that may change in the future. I am a realist and live in reality... not the land of whimsy and emotion. Fiat is legal tender and we could not survive without it under current laws. Even if you attempt to live on only Bitcoin, those you do business with must convert it to fiat and use fiat to buy products and services and pay taxes along the way. Because of existing laws, you can't "live on Bitcoin." Until governments start accepting Bitcoin for taxes, fiat will rule. That said, I see a bright future for Bitcoin.

Thanks for your fantastic reply, and what if I told you "revolution". If we hypothesize that all the people of a country will stop to pay tax because they hate FIAT money... what do you think will happen? I would like to remind you of what revolution means :


- the usually violent attempt by many people to end the rule of one government and start a new one

- a sudden, extreme, or complete change in the way people live, work, etc.

- the action of moving around something in a path that is similar to a circle

Source : http://www.merriam-webster.com/dictionary/revolution

[dothebeats]

but cash is still king if you want to make a quick purchase for a soda or some candy or something.

You obviously have never been in Arnhem (The Netherlands), Bitcoin Capital of the World

You'd be surprised how easy it is to do a quick purchase with Bitcoin here, with 60+ local merchants (including supermarket and various food shops) accepting Bitcoin.

Irrelevant. Still not quicker than handing over the exact money in fiat. There's also not that much you can buy there nor would I be able to buy much at all with it in Amsterdam so a few niche shops that accept it in a small area isn't that great.  

Much to my amazement about that country, still it isn't that efficient to use bitcoins solely to purchase what you want if ever you were in The Netherlands. Not all the merchants and stores in that country accept bitcoin, so fiat still remain king in the current times when it comes to purchasing goods and services (over the counter purchases, that is.)

[pozmu]

As somebody said, bitcoin is FIAT money.
So this question is somewhat irrelevant.
Anyway, I prefer bitcoin's ease of use and FIAT acceptability/stability.
Something like BTC but based e.g. on gold would be ideal.

[abyrnes81]

As somebody said, bitcoin is FIAT money.
So this question is somewhat irrelevant.
Anyway, I prefer bitcoin's ease of use and FIAT acceptability/stability.
Something like BTC but based e.g. on gold would be ideal.

No you are wrong :


Fiat money is currency which derives its value from government regulation or law. The term derives from the Latin fiat ("let it be done", "it shall be").[1] It differs from commodity money and representative money. Commodity money is based on a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange, while representative money is a claim on the commodity rather than the actual good.[2][3][4]

The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used continuously by various countries, concurrently with commodity currencies.


http://en.wikipedia.org/wiki/Fiat_money

[1Referee]

It's a mix for me. In my country there is barely anything you can do or buy with Bitcoin. From that point I prefer fiat.

For online activities, buying stuff, sending money, receiving money, it is 100% Bitcoin for me. In fact, it is the only option I use online

[Hazir]

To be honest it does not matter to me. I would take anything as long as it will give me profit it may seem like I am a hypocrite but let's be realistic. Less than 1% percent of people using bitcoin use it because it is
something they believe from the philosophical point of view. Majority of bitcoin users just want to have pleasant life - and bitcoin is a tool for that just like FIATs.

[--Encrypted--]

kind of weird but for me it depends.

I'd choose to get paid in FIAT for my "official" job because I need to buy my every day needs and currently I can't use bitcoins to buy such things in my neighborhood.

as for my "outside" earnings such as gifts, website income, sig campaign, etc. I'd prefer bitcoin.

[adworker]

Accepting Bitcoin is safer, sender cannot reverse the payment or give you counterfied cash. The only drawback is it is harder spendable for some goods like food, but using some BTC to Debit Card service solving this

[Whitehouse]

In an ideal world I would prefer to use bitcoin, but we don't live in an ideal world. I don't think bitcoin or some other digital or crypto currency will overtake fiat in our lifetime but even if it gained 10% of fiat's adoption I'd be very happy. I think bitcoin will flourish and dominate certain industries, though.

As somebody said, bitcoin is FIAT money.
So this question is somewhat irrelevant.
Anyway, I prefer bitcoin's ease of use and FIAT acceptability/stability.
Something like BTC but based e.g. on gold would be ideal.

How the hell is bitcoin fiat money? It's the exact opposite of it.

[Hazir]

In an ideal world I would prefer to use bitcoin, but we don't live in an ideal world. I don't think bitcoin or some other digital or crypto currency will overtake fiat in our lifetime but even if it gained 10% of fiat's adoption I'd be very happy. I think bitcoin will flourish and dominate certain industries, though.

As somebody said, bitcoin is FIAT money.
So this question is somewhat irrelevant.
Anyway, I prefer bitcoin's ease of use and FIAT acceptability/stability.
Something like BTC but based e.g. on gold would be ideal.

How the hell is bitcoin fiat money? It's the exact opposite of it.

From what I could see it is really not so easy to say if bitcoin just another FIAT or maybe a commodity or something more - an evolution of both these aspects.  It is hard to define bitcoin because bitcoins is not physical item thus it can't be exchanged on par with gold or other precious metals. Bitcoin value is based on people's idea of what it can be worth. So I wouldn't go as far to say that bitcoin is 'exact opposite of FIAT".

[olcaytu2005]

Of course bitcoin, because it is a revolution.

[Whitehouse]

In an ideal world I would prefer to use bitcoin, but we don't live in an ideal world. I don't think bitcoin or some other digital or crypto currency will overtake fiat in our lifetime but even if it gained 10% of fiat's adoption I'd be very happy. I think bitcoin will flourish and dominate certain industries, though.

As somebody said, bitcoin is FIAT money.
So this question is somewhat irrelevant.
Anyway, I prefer bitcoin's ease of use and FIAT acceptability/stability.
Something like BTC but based e.g. on gold would be ideal.

How the hell is bitcoin fiat money? It's the exact opposite of it.

From what I could see it is really not so easy to say if bitcoin just another FIAT or maybe a commodity or something more - an evolution of both these aspects.  It is hard to define bitcoin because bitcoins is not physical item thus it can't be exchanged on par with gold or other precious metals. Bitcoin value is based on people's idea of what it can be worth. So I wouldn't go as far to say that bitcoin is 'exact opposite of FIAT".

It's 100% not fiat money by the very definition:

Fiat money is currency which derives its value from government regulation or law  http://en.wikipedia.org/wiki/Fiat_money

I think you're right that bitcoin is an evolution of money and is possibly a hybrid between a commodity and currency, but it is still money it's just that people are treating it as a speculative commodity at present. It could certainly level and balance off in the future to become a more stable currency, though. At least that's what I'm hoping for.