Are cryptocurrencies better than regular currency

[mattermaster]

Yeah, both the crypto and physical currencies have some pros and cons.
However, crypto is much inspiring than a regular currency as it does not leave any identical information behind its footprints.

[The Sceptical Chymist]

No, unless society is used with cashless/electronic payment method and most people have smart device with internet connection. Also, cryptocurrency is practically useless in poor country.

Poor countries themselves are useless,  so forget them.  Why some countries haven't advanced past unpaved streets in 2017 boggles my mind.

Cash is great because it's stable and there's no transaction fees--except taxes--and there are no bullshit confirmation times.   Other than those issues,  crypto is fantastic.   I voted that we need them both.

[nakata90]

Honestly I believe bitcoin is better since one you don't use your credit card so you don't loose you needed cash but instead your cash that you could easily earn back from mining. Plus, it's open to all ages unlike credit cards.

We need both, althought cryptocurrencies can help for make transaction fast, cheap fee, privacy and security but some people old year old or poor country not know it and how to use! Regular currency very important and easy for use.
About crypto, I think it will help young children can buy online without credit cards, this is good for them if they want buy any things but not old enough for have credit cards (I was one of them )

[jc89]

I believe that cryptocurrency is better than fiat currency if cryptocurrency behaves like a currency and not like an investment. If a cryptocurrency is stable like fiat, can have an instant transaction, without (or almost without) transaction fee, and very practical for a daily basis usage then that cryptocurrency is better that our regular currency.

[TheCoinGrabber]

Cryptos definitely have pros to it, foremost is the ability to keep your money without banks. As long as you keep your PC/phone secure, you need not worry. Also easier to send money across countries.

There are still problems of course. Scaling might be an issue, with transaction fees and confirmation time increasing. Also, we being so decentralized, there are things we still can't do with it. You can't expect the government to insure it, and I'm not sure if some people are already using it for home and car loans.

[Zicadis]

On the investment side of things, cryptocurrencies are indeed better than regular currency but the drawback of cryptocurrencies is in some parts of the world they are banned and for somebody to use them they need to know how to use and have access to the internet unlike  regular currency that can be accessed online and offline depending on medium of storage.

[Bunsomjelican]

Honestly I believe bitcoin is better since one you don't use your credit card so you don't loose you needed cash but instead your cash that you could easily earn back from mining. Plus, it's open to all ages unlike credit cards.

Maybe in some other methods cryptocurrency is better than regular currency in terms of doing trade in the market, and there is a volatilty which it gives profit to anyone, and it also gives a part time job to anyone too even you don finish or achieve any degree
course.

[darkangel11]

The only serious issue I can think of is what if your phone dies? You're out of funds then. But in the long term battery tech will only get better and last longer and charging stations will become more common. Especially as we transition into wireless charging.

All current bottlenecks will be sorted out by then and I suspect adoption will have grown significantly.

That all said, I say cyrpto is way better. The only benefit of fiat is you can use it as toilet paper.

That's not a serious issue. Here are some options:
You can have a hardware wallet and carry it with you, attached to your keys for example. If your phone dies you'll always have a secondary wallet.
If people will start using phones as wallets they will learn to carry a spare battery around or they charger. There will probably be no chargers, because there are already phones that charge without plugging via induction. In galleries, stores and such there will be wireless charge ports that will revive your phone if you just stand near them for a couple minutes.

[Seansky]

Cryptocurrencies are not better than regular currency and the latter is also not better than cryptocurrency because we need both in our lives. There are some instances where cryptocurrencies are better like when shopping online, and also when paying at a store using credit card but there are also some times when regular cash is better like when someone pays some neighbor for their service or buying goods on grocery.

[Mometaskers]

While the thought of having my money safe from the government is nice, there are still stuff that traditional banking does that crypto still can't. Loans for example, are pretty risky in crypto and so you could have a harder time obtaining one.

No, unless society is used with cashless/electronic payment method and most people have smart device with internet connection. Also, cryptocurrency is practically useless in poor country.

Poor countries themselves are useless,  so forget them.  Why some countries haven't advanced past unpaved streets in 2017 boggles my mind.

Cash is great because it's stable and there's no transaction fees--except taxes--and there are no bullshit confirmation times.   Other than those issues,  crypto is fantastic.   I voted that we need them both.

I think it helps expand the core of the world economy and allow the periphery to participate more. Once stable internet service becomes available, expats can send remittances back home to their poor country. NGOs can send donations. Some of those can be held for price increase. This allows families to buy stuff, etc and cause a chain reaction there.

Assuming the government is not actively trying to keep the population impoverished and wouldn't ban bitcoin, it could improve their economy. Later these countries could be capable enough to act as manufacturing centers, allowing the core to outsource more tasks to the periphery, freeing the core to focus on other stuff.

[Ayiranorea]

Both has got its own importance, so right now I feel that both are required than having bitcoin or the real currency. The reason is that bitcoin or other cryptocurrency has much used as an trading asset rather than a currency, also it haven't started to function independent. This makes a need of regular currency for maximum usage of digital currency.

[Sniper150]

I don't think that cryptocurrencies are better because firstly cryptocurrencies don't work offline and moreover the transaction fees is very very high which makes the use of cryptocurrencies impossible for small transactions. Transactions also are not quick and require confirmation time.

I do agree with you. Cryptocurrencies and regular currency have their own advantages and disadvantages. If you don't have internet access, you cannot access anymore to cash out your money. But in regular currency which is, we can hold it to buy things that we want to buy goods and services. That's what you have said above is a disadvantage of cryptocurrencies over regular currency. If cryptocurrencies were implemented to our country and it has low transaction fees, maybe I could say that this is better for me. But as of now, regular currency is better for me because you don't need an internet access to get it. You can use it to buy directly in any store.

[Sadlife]

Yes, bitcoin is far more superior than a fiat currency. Bitcoin is freedom and it liberates us from oppression, tyranny and exploitation unlike the debt based currency scheme that is created by bankers to slaves humans from debt until they work for lifetime and then die. Bitcion is not overrated and over regulated like cash so were free from taxes and debt. Bitcoin in time will surpass fiat currency until then the government will force to change their monetary system or if they dont they will be crash by it repeatedly until they learn that they can't compete with a decentralized monetary system and finally the governments will be free from their banking masters.

[Himanshu111]

I don't think that cryptocurrency are better than regular currency simply because cryptocurrency don't work offline. Transaction in cryptocurrency charge very high fees and require some time to process and confirm m. On the other hand, regular currency can be exchanged quickly without a fuss.

[SHawk]

Cryptocurrencies are better than the regular fiat currency for so many reasons, no central controlling body, low fee (This is now an issue), no government intervention (This is also an issue) and so many other ways to make mankind independent.

[cafucafucafu]

I don't think that cryptocurrency are better than regular currency simply because cryptocurrency don't work offline. Transaction in cryptocurrency charge very high fees and require some time to process and confirm m. On the other hand, regular currency can be exchanged quickly without a fuss.

That's the worst argument I've heard against cryptos.

Transaction fees are a problem, yes. But they are still relatively low. You're only paying $2 per transaciton approximately right now, not ideal but still quite manageable in general. I know that in the past you were able to pay just a few cents in transation fees and still get your transactions confirmed within the first block or two, but $2 isn't that bad still if you are sending overseas to your family/friends compared to all the fees and charges added up on paypal or perfectmoney.

Cryptos don't work offline, yes. That's a disadvantage. But the advantages of using crypto(decentralization, store of value etc.) far outweigh this disadvantage. Most people's got internet connection anyways even in developing countries like India and China. If not, there are services that you can send SMS's to to send bitcoin transactions. I think you forget the fact that regular currencies are strongly based on the internet as well. Internet banking is what most people use nowadays anyways.

[Windpower]

Currently, cryptocurrencies are definitely not better than fiat. Anyone who says they are, are just dreaming and need to think about it realistically. If cryptocurrencies want to become better than fiat, they will need to enlarge their user base and need to lower transaction times while also lowering transaction fees. Cryptocurrencies are not feasible for most people as a lot of work is required to understand and use them. In that area, fiat is far better as using it is extremely simple and there is no waiting time for transactions to be completed. Cryptocurrencies have a long path ahead of them that may or may not lead to the overtaking of fiat. We will just have to wait and see as the fate of cryptocurrencies rest on our shoulders as we are the pioneers and the people who need to get the word out there.

[icecube45]

If we think more broadly, it is very difficult to compare between crypto with currency. Both have their respective roles that must have advantages and disadvantages. Maybe I think crypto is better in ease, because we are free to manage the coins we save. And crypto can also be used to make a profit, unlike a currency that is only used as a means of payment. I'm sure all members here prefer crypto better than currency. But in terms of needs we need both (crypto and currency). Currency still dominates as a means of payment mainly directly, I am sure everyone still needs this. So I think we still need both.

[hurain]

I don't think that cryptocurrency are better than regular currency simply because cryptocurrency don't work offline. Transaction in cryptocurrency charge very high fees and require some time to process and confirm m. On the other hand, regular currency can be exchanged quickly without a fuss.

i think very soon you will change your statement, because i am sure that very soon people are going to give preference to  bitcoin as using bitcoin or any other cryptoc currency may be more easy and convenient as compare to fiat currency.

[rickadone]

Both have their own advantages. first, mining is the same as working so when you're using some sort of credit card then it's the same as using bitcoin, you'll lose your money for buying things. Credit cards mostly have a really strict rule in regards to which person is capable of using it because giving credit is like giving a loan, if someone can't repay it, the bank needs to make a movement to get this solved which also will make them spend their money.
By using Bitcoin you can send money to everywhere without any complicated requirements but seeing from its fee, not really an efficient way whereas banks offer the opposite, it's all up to you to decide though.

You are right both have advantages but I am in favour of crypto currency and more particularly in favour of bitcoin  because it is very easy and can save easily. You don’t have need to carry cash in pockets and bitcoin gives more opportunities to users than paper currencies. Crypto currencies will beat regular currency with their store of value characteristics. Because you could not find those big potential with a regular currencies like how we are enjoying with crypto currencies in last six months of quick times.