Why some people prefer Bitcoin over fiat ?

[morrisby25]

BITCOIN is tax-free, anonymous, and transparent. Moreover its price is rising day by day. So if you take $100 BTC from someone for some service it might inc to $125 in just a week. So it is also an investment with the mode of payment.

This^^^ I really wouldnt bother freelancing if I needed to log every single transaction I did and every bit of cash I earnt from the jobs I do

[awawo]

Well to me I prefer bitcoin to fiat money because of so many reasons, 1 bitcoin is an assets but fait paper money is not your bitcoin has the ability to grow in value and price but paper money does not grow in value.
Bitcoin does not need a third party like the bank and government in it transactions but paper money require the service and is subjected to the bank and government.
Bitcoin has a potential to grow in price against any country currency and bitcoin can be use across borders of the world but paper money is only use within it country of origin. This and so much more are the reasons people choose bitcoin over fait paper money.

[obinine]

BITCOIN is tax-free, anonymous, and transparent. Moreover its price is rising day by day. So if you take $100 BTC from someone for some service it might inc to $125 in just a week. So it is also an investment with the mode of payment.

Bitcoin itself is tax free but our transaction is subject to taxation, if the law required us to pay in the event we make money then we should
pay taxes. It's very important to fully understand the government will regulate bitcoin no matter what, they have the capacity to do that so we can expect if we are not regulated now, soon it will happen.

Depends on how you go about it, if you sell for cash and then just take the cash it’s super hard to prove that you need to be taxed for it

[sheryl26]

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.

I think people preferred bitcoins over fiat because they have more freedom to their money in this rather than the fiat because those are decentralize and the government always have a commission to your money. No tax at all and all those money you will gain you will get is 100% in the bitcoins and the fact that the bitcoins is volatile you can also have an investment to it. Your money can either grow or fall but the bitcoins being famous in this period of time the value of bitcoins will not go down but rather go up everytime.

[Maslate]

Probably because people are tired of fiat and want something new. Bitcoin is impressive for them because it is anonymous and taxeless. But bitcoin has not been legalized by my government.

Some may prefer bitcoin but majority are gonna be using fiat, bitcoin is not even widely used by majority of the population due to some limitations
and it will never replace fiat in the future. Bitcoin has already grown and keep growing but it will not big as the coverage of the fiat in terms of user based.
People who use bitcoin can also use fiat and they are not in a competition actually.

[gundala]

Probably because people are tired of fiat and want something new. Bitcoin is impressive for them because it is anonymous and taxeless. But bitcoin has not been legalized by my government.

Some may prefer bitcoin but majority are gonna be using fiat, bitcoin is not even widely used by majority of the population due to some limitations
and it will never replace fiat in the future. Bitcoin has already grown and keep growing but it will not big as the coverage of the fiat in terms of user based.
People who use bitcoin can also use fiat and they are not in a competition actually.

One of the limitations is that it depends on the internet. When there is no internet connection then bitcoin can not be used. In addition, the bitcoin transaction fee is also quite high, so bitcoin is not effective for micro-payment. That is why bitcoin is more dominant as a commodity and investment.

[vhiancs]

For me aside of that, many people prefer bitcoin currency over fiat it's because the others want to helping in an effective way. because of the high value price of the bitcoin currency, rather than fiat, the bitcoin can help even when you're at home we can make our money in easy way.

[guxu219]

BITCOIN is tax-free, anonymous, and transparent. Moreover its price is rising day by day. So if you take $100 BTC from someone for some service it might inc to $125 in just a week. So it is also an investment with the mode of payment.

It seems like you confused the question. Question is not why people prefer bitcoin over cash. Whatever you count is valid for many cryptos. I guess answer is about risk taking. Alt coins has more risks at the moment. You can have 10X of your money or you can lose same amount. That would not happen bor btc.

Wouldn’t that vary highly based on the altcoin in question though? Like some alt coins like ETH and LTC are stable at the moment IN MY OPINION from the charts

[levvv]

Some people prefer bitcoin over fiat because the anonymity. If they want to buy something, they just buy it without telling their identity.
If you use fiat, your identity will be exposed, and you have no chance to doing anonymously.

[fizzylizzya]

I heard from my friend that tell me to join this forum about cryptocurrencies, that bitcoin is more powerful and could bring you some amount of profit if the prices goes up. and he said that its coin have very simple and easy transaction and it is world wide. that would be the plus point too besides what people used it for.

[macchiato]

This is the problem with bitcoin. Because it is decentralized, a lot of people abuse and misuse it. This may be one reason why some governments do not support digital currency. It is out of control and poses danger in securities of many people. Purchasing illegal stuffs using fiat money can be tracked which is why those types of people choose cryptos over paper money. They don't want to be traced because they, themselves, know that what they are doing isn't right.

[nevafade]

Bitcoin is a modern monetary system and preferred by most people because of tax-free, secured, innovative and more profitable.


Fiat is an old monetary system regulated by the government considered as legal and irreplaceable.

[lance04]

I think the reason behind why many people prefer bitcoin over fiat money if because of they can earn more income in bitcoin.
Bitcoin provides a instant investment which provide instant income unlike in money that gives only stable and exact amount which will not increase no matter what you do with it.

[Xenoph0bia]

I think the reason behind why many people prefer bitcoin over fiat money if because of they can earn more income in bitcoin.
Bitcoin provides a instant investment which provide instant income unlike in money that gives only stable and exact amount which will not increase no matter what you do with it.

Bitcoin is getting very famous all over the world.Since digitization is going on,cryptocurrencies are in fashion.Transactions are easier through bitcoin.You just need to have a bitcoin wallet to store your bitcoins and then you can carry any amount of bitcoins.But with fiat this is not possible.Investment in bitcoin is also very profitable.Its value is very volatile so profits can easily be received.Mainly people use bitcoin only because of its high profit margins.

[NidmoMan]

Bitcoin alone and the other blockchain currencies are just yet another hope to change the things going on around. Technology helps people to be more decentralized, more independent from governmental control, gives a chance to see the future where everyone does not have the big brother's eye on the person's life from one side and fetters of welfare states from the other side.

[RKSummer]

There is no doubt that the bitcoin price has been a huge factor to it being popular but most of the people don't actually prefer bitcoin over fiat , they just see bitcoin as a way to get real money , they see it as an investment to help them get fiat , but if there is people out there saying that they like bitcoin over fiat they are lying because they can't go to the supermarket and pay with btc.

The real reason why people prefer bitcoin is the benefits it can give to every user. In bitcoin, every transaction is tax-free, that is why you can earn a lot profit from it (trading, buy and sell, investment) The transaction is easy and fast.

[paulmusa25]

If sending money some people will choose bitcoin because it is less hastle than fiat by bank to bank transafer. Because bank to bank transfer from another country takes 1 week to 1 month.

[xvids]

I think it depends on the person but for me the only reason I prefer bitcoin over Fiat is because ,
I am earning bitcoin easily just making a trade in the market or an alt-coin trading I am making a profit.

[zemb]

I think bitcoin is very accountable and accessible in which teenagers can be profitable here unlike in the centralized platform that you must have the consent of your parents, and I think also the fact that you can have a double amount of money here without giving some at the first place.

[Klestar]

I didn't get the point why are you questioning this, first we just use bitcoin for a lot faster transaction and exchange. You cannot use bitcoin all the time mate it just a matter of computer generated money and you can't buy things that you will be needing on the internet. I think your question must be "advantage of bitcoin over fiat" its more fit here on forum.