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Author Topic: Why some people prefer Bitcoin over fiat ?  (Read 58455 times)
Superzpay
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January 13, 2017, 11:40:22 PM
 #321

There are many reasons to prefer bitcoin over fiat. The most obvious ones I would imagine to be anonymity if needed, evading taxes and purchases in the dark web.

I think however the biggest reason people prefer bitcoin is that they simply don't believe in fiat and banks, but instead think bitcoin is the currency of the future.

the ease of transferring money from one point to another and its secured transactions..you can do this at home or anywhere which has internet connections unlike fiat money you cannot send it online unless you have a bank account., but sometimes bank account transactions needs longer time to process for example holidays or something, bitcoins is more easy to use.

I do Tell people the same thing. Security, speed, ease of transaction from any location are the most considerable fact about Bitcoin. All you need is WIFI right?  Grin
Mostly people use bitcoin because those thing that you texted. Bitcoin network protect the user from scam such as chargeback and unwanted charge, also bitcoin is can not be counterfeited. Some people prefer bitcoin over fiat because bitcoin is better than fiat.

People who sell stuff online should definetly prefer bitcoin over fiat, since its much faster and safer. Bitcoin can't be charged back either.
yes that is right to say that those people who know about the importance of bitcon and they use online services for buying and selling purpose then these people are giving preference to bitcoin, but i think in future all the people who have access to internet will start using bitcoin as currency and specially for online shopping.
I agree with your points and everyone will definitely adopt bitcoin if they will find that bitcoin is a type of currency with which they can do dealing with any person in any country of the world which before was impossible due to high fes of banks and due to limited service of paypal to limited countries.
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January 14, 2017, 02:27:36 AM
 #322

There are many reasons to prefer bitcoin over fiat. The most obvious ones I would imagine to be anonymity if needed, evading taxes and purchases in the dark web.

I think however the biggest reason people prefer bitcoin is that they simply don't believe in fiat and banks, but instead think bitcoin is the currency of the future.

the ease of transferring money from one point to another and its secured transactions..you can do this at home or anywhere which has internet connections unlike fiat money you cannot send it online unless you have a bank account., but sometimes bank account transactions needs longer time to process for example holidays or something, bitcoins is more easy to use.

I do Tell people the same thing. Security, speed, ease of transaction from any location are the most considerable fact about Bitcoin. All you need is WIFI right?  Grin
Mostly people use bitcoin because those thing that you texted. Bitcoin network protect the user from scam such as chargeback and unwanted charge, also bitcoin is can not be counterfeited. Some people prefer bitcoin over fiat because bitcoin is better than fiat.

People who sell stuff online should definetly prefer bitcoin over fiat, since its much faster and safer. Bitcoin can't be charged back either.
yes that is right to say that those people who know about the importance of bitcon and they use online services for buying and selling purpose then these people are giving preference to bitcoin, but i think in future all the people who have access to internet will start using bitcoin as currency and specially for online shopping.
I agree with your points and everyone will definitely adopt bitcoin if they will find that bitcoin is a type of currency with which they can do dealing with any person in any country of the world which before was impossible due to high fes of banks and due to limited service of paypal to limited countries.
Not likely to happen, the world is ruled by the government and the rules are created for us to follow. If you see the reality, you can tell that all people are using fiat including the crypto currencies users. I believe that bitcoin will not gonna replace our fiat system, we will not allow it and so the government.

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January 14, 2017, 02:29:28 AM
 #323

There are many reasons to prefer bitcoin over fiat. The most obvious ones I would imagine to be anonymity if needed, evading taxes and purchases in the dark web.

I think however the biggest reason people prefer bitcoin is that they simply don't believe in fiat and banks, but instead think bitcoin is the currency of the future.

the ease of transferring money from one point to another and its secured transactions..you can do this at home or anywhere which has internet connections unlike fiat money you cannot send it online unless you have a bank account., but sometimes bank account transactions needs longer time to process for example holidays or something, bitcoins is more easy to use.

I do Tell people the same thing. Security, speed, ease of transaction from any location are the most considerable fact about Bitcoin. All you need is WIFI right?  Grin
Mostly people use bitcoin because those thing that you texted. Bitcoin network protect the user from scam such as chargeback and unwanted charge, also bitcoin is can not be counterfeited. Some people prefer bitcoin over fiat because bitcoin is better than fiat.

People who sell stuff online should definetly prefer bitcoin over fiat, since its much faster and safer. Bitcoin can't be charged back either.
yes that is right to say that those people who know about the importance of bitcon and they use online services for buying and selling purpose then these people are giving preference to bitcoin, but i think in future all the people who have access to internet will start using bitcoin as currency and specially for online shopping.
I agree with your points and everyone will definitely adopt bitcoin if they will find that bitcoin is a type of currency with which they can do dealing with any person in any country of the world which before was impossible due to high fes of banks and due to limited service of paypal to limited countries.
The people will adopt it, but I am sure the governments will not let that happen because they make no money from it.  Once the government can find a way to make money from bitcoin, I am sure they will adopt it, but, I do not think the people will be enough to keep it standing alone.  Just my opinion.



                                                                                                                                             
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dhampir-D
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January 14, 2017, 02:44:44 AM
 #324

Lots of places to spend your bitcoins on. You don't have to spend it on those subjects you mentioned

It depends. Maybe in your place there are lot of places but not in mine. It is hard to see a stall with a sign that accepts bitcoin. It is always changing it to hard cash first before you can even spend it. Now, I have just been doing online buying instead of going to the mall.

The same thing with me either there are only few places here in my country where I can use bitcoins and there is no physical store that accepts it.

Good thing that the exchange here is capable for accepting bitcoins by using their service that we are able to buy prepaid load cards.

And as well as paying our monthly dues.
It is fact that, using fiat, people have a lot more chances of spending the currency in physical stores. But it is also true that many people feel more secure by storing value in Bitcoin. And for that purpose, I have to admit, Bitcoin is a better option, as well as being a more convenient way of storing value. For the same purpose this is also cheap and safe, since you use it properly.
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January 14, 2017, 04:25:50 AM
 #325

We are using both of them especially to those users that converts their bitcoins to fiat and vice versa just to purchase products and services either online or physical store. So I use them at the same time everyday.
Yeah keeping our BTC in an online wallet is more safer/secured.

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January 14, 2017, 07:49:27 AM
 #326

We are using both of them especially to those users that converts their bitcoins to fiat and vice versa just to purchase products and services either online or physical store. So I use them at the same time everyday.
Yeah keeping our BTC in an online wallet is more safer/secured.
Cash is good for offline transaction and bitcoin is good in online transaction, they have their own strength that can give us the best benefit when using it. I guess we have to accept that fact that even bitcoin will not exist fiat is still there, the situation now is just giving us convenience due to the growing popularity of bitcoin which creates solid adoption.

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January 14, 2017, 08:11:45 AM
 #327

I personally prefer bitcoins over fiat no matter whether they are used by any wrong identities, because when I know I am loyal on my part, I should not fear.
What should we be afraid of while using bitcoins when we have proof of what we used them for?
I use it because the liquidity in price gives me a chance to get things for cheaper, with discounts that we get just because bitcoin is in adapting phase and not too much spread.
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January 14, 2017, 08:17:04 AM
 #328

Because using bitcoin does not require many requirements and it can be use by everyone anonymously. Also, unlike fiat, bitcoin has the chance to increase its value without the help of the banks. It is also more convenient because you can shop online and send payment by wallet to wallet transactions. Bitcoin for me is much better than fiat Wink
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January 14, 2017, 08:35:49 AM
 #329

Bitcoin has been deemed the people's coin or the coin of freedom for many and the fact that it has a limited supply as opposed to fiat currency that can be printed all the time by the central banks, makes it more appealing as a store of value, like gold, I believe.


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January 14, 2017, 08:40:27 AM
 #330

We are using both of them especially to those users that converts their bitcoins to fiat and vice versa just to purchase products and services either online or physical store. So I use them at the same time everyday.
Yeah keeping our BTC in an online wallet is more safer/secured.
Cash is good for offline transaction and bitcoin is good in online transaction, they have their own strength that can give us the best benefit when using it. I guess we have to accept that fact that even bitcoin will not exist fiat is still there, the situation now is just giving us convenience due to the growing popularity of bitcoin which creates solid adoption.

Some they named bitcoin only as the money for internet but that is not really true. Till now many people use it as commodity in exchange markets and for savings if there is economic crisis in their country. Also some they use it to overcome the hassle of capital controls and transfer funds abroad. The way I see it is we can use it more often in everyday life when problems like as transaction fees and confirmation times are settled. I am pretty confident that in the near future more people will use it instead of fiat money not only online but in brick-and-mortar stores too.

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January 14, 2017, 09:00:22 AM
 #331

Today we have seen many currencies from different parts of the world, when compared to other currency bitcoin is fastest growing crypto currency. So many people showing interest towards bitcoin because it is completely new technology and the value of bitcoin is very when compared other currency and it has very low transaction fee where nobody can identify to whom we are transferring.

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January 14, 2017, 09:33:32 AM
 #332

Bitcoin has been deemed the people's coin or the coin of freedom for many and the fact that it has a limited supply as opposed to fiat currency that can be printed all the time by the central banks, makes it more appealing as a store of value, like gold, I believe.
Also no one prevent us from spend our money, some country give limitation for the bank customers to withdrawl their money. Bitcoin is better than gold as short time investment.


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The_Dark_Knight
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January 17, 2017, 01:02:36 AM
 #333

People are mostly using bitcoin as an investment more than a currency. Because there is not a lot of places accepting bitcoin so that people can use it as a currency like fiat, so i don't really feel we should compare fiat and bitcoin right now like this. Because people prefer bitcoin as an investment, as a source of earning profits but not as a currency, atleast not for now.
But the reason for that is that bitcoin is delivering the promises fiat has never been able to fulfill, fiat is supposed to be a store of value and that is simply not true while bitcoin is a store of value so it is no wonder people are keeping their bitcoin and spending their fiat when they can.
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January 17, 2017, 01:08:52 AM
 #334

There may be a few who would prefer bitcoin over fiat, but it would be hard to live on bitcoin alone. Sure it is a good thing but fiat is undeniably still the most used currency around. Maybe as an investment, I would say it is nice to have bitcoin, but as primary currency, it is going to take a while before it starts gaining obvious support from the masses.
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January 17, 2017, 01:23:58 AM
 #335

well ofcourse people will prefer bitcoin over fiat due to the fact that you can be anonymous. your identity will be hidden. if you want to engage in porn sites, you can without people knowing who you really are. there are just so many advantages you can acquire in usibg bitcoin over fiat. EASY. CONVINIENT. ANONINITY. TRANSPARENT. ITS NOT INFLATIONARY, etc.



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Mr. Big
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January 17, 2017, 01:37:57 AM
 #336

There may be a few who would prefer bitcoin over fiat, but it would be hard to live on bitcoin alone. Sure it is a good thing but fiat is undeniably still the most used currency around. Maybe as an investment, I would say it is nice to have bitcoin, but as primary currency, it is going to take a while before it starts gaining obvious support from the masses.

Not in the way using it in buying drugs, watching porns, and dealing with illegal activities, it is the best currency for shady jobs... It will take the authority time before finding out about what you are doing, and before they could find you, you already escaped...

The thing is, it is easier to use bitcoin when dealing with things that you want your hands to look clean... I think that's not a misuse of technology, it's normal if we are considering bitcoin as currency...  Smiley
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January 17, 2017, 02:36:37 AM
 #337

In my own opinion since I am new in crypto world,
I prefer to use this bitcoin of its secured identity given to the users but I am not a drug users or in illegal actions to choose this reason but  to compare this to other transaction using fiat I guess this is well secured to the users like using the bank transactions, even name is not given in bitcoin transaction..

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January 17, 2017, 02:56:42 AM
 #338

Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.

You are about right with the word "unhealthy".
However, we are talking about money here.
As long as it is money people will just use it however they want, whatever the outcome would be.
A variety of people use this, poor people who want to earn easy money, rich people who want to become even more rich.
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January 17, 2017, 04:08:24 AM
 #339

Bitcoin is private, secure, transparent, tamper-proof, easy for international transfers. All these are much better than fiat. Of course I don't think bitcoin will replace fiat due to its limited quantity.
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January 17, 2017, 04:20:43 AM
 #340

Bitcoin is private, secure, transparent, tamper-proof, easy for international transfers. All these are much better than fiat. Of course I don't think bitcoin will replace fiat due to its limited quantity.

However even it will not be able to replace fiat still many of us prefer to use bitcoin as a lot of opportunities are already with bitcoin. And we are just the one on what opportunity we are going to grab in it. Bitcoin is really a big help for us especially that has loved ones abroad that wants to send money with lesser fees.

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