Why is Bitcoin better that fiat?

[chennan]

IMO, in fiat we have to pay some tax when we have/our income is more than the limit. But we don't need to pay even a single sat to hold lot of bitcoins. Because, bitcoins were anonymous and fiats were watched by banks(?)

Well, I can totally see that if bitcoin were to become a mainstay in digital currencies and were used by the masses (and by "used" I mean some businesses will start paying out their employees in bitcoin), then there would have to be a tax regulation on bitcoin, because the government doesn't want major businesses to be issuing out payments without giving them some.  This wouldn't have anything to do with the banks, because they wouldn't be issuing out bitcoins themselves if they remain dealing fiat currencies.

[Soros Shorts]

This always comes pretty handy when you are trying to show someone why Bitcoin is the best form of money in the history of mankind:



The only reason Bitcoin isn't the 1# currency and store of value is because it lacks the marketing that violence backed currencies have. Gold has just centuries of existence and a huge network effect. Bitcoin is better money period, it's not even an argument.

For the "Sovereign" line item you should switch the red and green color codes.

[vero]

if bitcoins become widely accepted, that would make them a useable form of money if you're able to trade it for something you want.
It's all a matter of perception.

[dothebeats]

I beg to disagree on the you can buy everything part. I still can't buy groceries using bitcoin, and I find it rough because we can buy tech devices but not basic commodity. We still need merchants to accept bitcoin and not just users willing to spend.

Honestly, I'm trying to live with only bitcoin, but pizzas for almost everyday isn't healthy, and I can't pay rent with bitcoin.

[Furio]

Non-fraudulus system, no creating of money, no (unknown) manipulation in the monetery system...

[Amph]

if we compare it directly to credit card, there is one thing that i like, the fact that i don't need to waste time putting cvv/other crap that can be stolen on a new website that i'm going to try for the first time

Yeah, but private keys and wallets can also be hacked, giving you no alternative but to accept the loss, whereas CC thefts and missuses can be reported and reversed.
If we could make some sort of blacklist for such transactions, that would fix it, but then it wouldn't be as decentralised and "free" as it is now.

imho the biggest advantage of bitcoin (decentralization) is also it's curse, since there's no central entity that would promote it/back it up with some focused exposure.

i was not talking about that, iw as talking about the fact that when you purchase something from a shady website, they can't steal your whole wallet, at worst you lose that transaction, if the site is revealed to be a scam

but withcredit card, if they stole you the cvv or other info, you're fucked, they will steal your whole fund

[dollarneed]

in my own opinion why is bitcoin better than fiat? because bitcoin is the simplest, easiest means of paying for things online, no need your identity,its decentralized, i have my own bank in my smartphone,and no one can froze my balance, thats why i love it

[RKing]

We know the supply pattern of bitcoin, so we can plan our investment properly. The centre banks of fiats can issue the money at will.

[aakashsangwan]

IMO, in fiat we have to pay some tax when we have/our income is more than the limit. But we don't need to pay even a single sat to hold lot of bitcoins. Because, bitcoins were anonymous and fiats were watched by banks(?)

what are you telling is correct but now all governments are taking steps to get details about bitcoin user and they are implementing bitcoin under law of tax and very soon who ever is holding bitcoins have to give details about all their wallets and declare and pay taxes.

[trinaldao]

i want to ask in real money (cash) we can found "counterfeit money"
how about bitcoin, can someone create counterfeit bitcoin?

[btcxyzzz]

This always comes pretty handy when you are trying to show someone why Bitcoin is the best form of money in the history of mankind:



The only reason Bitcoin isn't the 1# currency and store of value is because it lacks the marketing that violence backed currencies have. Gold has just centuries of existence and a huge network effect. Bitcoin is better money period, it's not even an argument.

Thanks pereira, it really is as simple as that, "it's not even an argument". We just need time to see Bitcoin really gets massively adopted. It's because we don't have government/fiat mafia support, and not just that, they are enemies of people, enemies of freedom, we can expect more attacks and even more brainwashed sheeple saying Bitcoin is fraud, ponzi and other shit.

[btcxyzzz]

if bitcoins become widely accepted, that would make them a useable form of money if you're able to trade it for something you want.
It's all a matter of perception.

Actually it is widely accepted right now. I don't believe there is any good that you cannot buy with Bitcoin these days on the Internet. And more, even if you find some stuff you cannot buy with it, there's something like Xapo VISA debit card, works flawlessly, that's my experience. It's widely accepted yet there are not much customers actually using it and that will change slowly.

[dollarneed]

i want to ask in real money (cash) we can found "counterfeit money"
how about bitcoin, can someone create counterfeit bitcoin?

nice question,actually i dont know about it before, but well i found this, i think the answer is no, bitcoin can't be counterfeited, just can be stolen, lost, and double spent
the excelent answer by DeathAndTaxes, here his quote

You probably have read a lot of things online which are completely untrue.  Bitcoins can't be counterfeited.  Every node of the network is aware of every confirmed transaction and all transactions can be traced back to their minting.  Any coin created from thin air (outside of the authorized and limited amount in block creation subsidy) would be immediately recognizable as invalid.  Bitcoin can be stolen, lost, double spent (under some conditions), and even mined out of existence but they can't be counterfeited.

The thread for your question
https://bitcointalk.org/index.php?topic=500949.0

[RKing]

i want to ask in real money (cash) we can found "counterfeit money"
how about bitcoin, can someone create counterfeit bitcoin?

Short answer is NO.

You need lots of mining power to double speed. The investment in mining equipment is enormous. It is not worth it.

[Provably Fair Directory]

This always comes pretty handy when you are trying to show someone why Bitcoin is the best form of money in the history of mankind:

http://www.dugcampbell.com/wp-content/uploads/2014/12/Traits-of-Money.png

The only reason Bitcoin isn't the 1# currency and store of value is because it lacks the marketing that violence backed currencies have. Gold has just centuries of existence and a huge network effect. Bitcoin is better money period, it's not even an argument.

Nice simplification.

[prodigy8]

I think that the bitcoin value changes time by time which makes it more profitable than the fiat.
Fiat also changes it value but not to much like bitcoin, so the first is the profit.
Then low transaction fees when sending bitcoin to the other part of the world.

[VirosaGITS]

I think that the bitcoin value changes time by time which makes it more profitable than the fiat.
Fiat also changes it value but not to much like bitcoin, so the first is the profit.
Then low transaction fees when sending bitcoin to the other part of the world.

Well yes, the supply of BTC will diminish so you get deflation instead of inflation. While this is very interested for holders, it also reduce liquidity as its push people to hold instead of spend.

Simply contrary to FIAT which lose value over time, so holding a debt in FIAT can be advantageous as it effectively shrink equivalent to inflation, which also mean that just holding FIAT in a bank account is bad unless you place it in a way that you at the very least get more interest on it than you lose to inflation.

[Amph]

i want to ask in real money (cash) we can found "counterfeit money"
how about bitcoin, can someone create counterfeit bitcoin?

Short answer is NO.

well double spending can be seen as a counterfeit money in some way, so the answer isn't really no

there were successful attempt in spending two time your coins in the past

[Q7]

You can access your bitcoin in any parts of the world as long as there is internet access. And you don't need to actually physically carry with it along with you. Also to whichever place you travel to it is more or less an international global currency. No need to go through exchanges just to use it if it one day becomes the common currency accepted anywhere.

[pereira4]

This always comes pretty handy when you are trying to show someone why Bitcoin is the best form of money in the history of mankind:



The only reason Bitcoin isn't the 1# currency and store of value is because it lacks the marketing that violence backed currencies have. Gold has just centuries of existence and a huge network effect. Bitcoin is better money period, it's not even an argument.

For the "Sovereign" line item you should switch the red and green color codes.

Why tho? You may be reading "sovereign" as independent or something along the lines. "Sorevering can also be an adj, "of or relating to a sovereign or sovereignty; royal."

It says also "goverment issued". Fiat is goverment issued, Bitcoin doesn't care about goverment. Gold theoretically goes on it's own as well even tho this is delusional, everyone knows govs have control on gold too.

Edit: Ok I just understood you meant only the color and not "low" and "high".