Are cryptocurrencies better than regular currency

[keeee]

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.

I agree in your statement in terms that it is open for all ages unlike credit cards but not in being superior compare to other regular currency. First of all not everyone has an internet which we all know that we can access bitcoin through it. Second is its very high transaction fee. Given those reasons we can conclude that bitcoin is not the best.

[infer]

It is hard to know whether cryptocurrencies are better than regular currencies or not. The world is standing in front of the next technology revolution and the cryptocurrency is playing an important part in this event. If we can manipulate bitcoin in the real life, it will be very good and give a chance for people to improve themselves and learn more about the computer. If not, using paper money does not bother me at all

[andrei56]

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.

You asked if its better and than started talking about credit cards.

There are a lot of thing to take in consideration.

One of the most important thing is if the currency is backed by something thus the stability of it. Since all the biggest currencies allegedly are backed by gold at least partly then one could say that they are more stable and their value is preserved . But there are a lot of information out there that US dollar is not  backed by gold anymore because it is stolen trough various schemes of gold loaning trough banks. It could be that US currency's gold exists only on paper. In this case currency is protected only by reserves of central banks. Aand then the stability becomes dependent on the same criteria as cryptocurrencies.

 Also there is the transactions fee and necessity of electronic devices.

About the bolded part, not a single fiat currency is backed totally or partially by gold, the reasons for that is they will not be able to print as much currency as they wanted if there was a limit like that, governments hate the idea of a gold backed currency because it will not allow them to run deficits in their spending. 

[kekcoindev]

Most definitely.

https://www.youtube.com/watch?v=gKkfhi8Eaiw

[rhodelmabanal]

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.

If we use cryptocurrencies in some countries it is possible because internet merges and thus transactions are only one clicks. But if we apply it in poor countries it is difficult because they aren't train for this.

[Shamie1002]

We need both, just like in my country, bitcoins are not yet that popular. Few services are only bitcoin applicable that is why traditional money is still needed.
And another thing, not all people find it accessible due to social status in the community. They may be able to survive their everyday living but still they would rather buy what they need than to invest in something that they are not yet familiar of because bitcoin needs time.

[Nathland]

i dont think cryptocurrencies are better because they can not work offline and transactions are not very quick like they are in conventional money. moreover,transactions charge high feesBTC which makes their use impossible for small transactions.

[raven7886]

Both of them have different purposes and they are not supposed to cancel each other out. It's like comparing apples to oranges if you think about it. Basically, fiat is something we still need and crypto is something for the future. And it could possibly replace fiat but right now they are both unique and still relevant.

But like many people here I am too believing that the future has arrived and it is time for all of us to switch over to crypto currency rather than sticking with regular currency. Because for better life style we must need crypto currencies as regular currencies are not supporting modern benefits like leading independent life from banking system.

Cryptocurrencies are obviously better than fiats. But to have all the actual benefits of cryptocurrencies, we must wait some more time. In this waiting time, I guess fiats may get replaced by cryptocurrencies completely.

[rhodelmabanal]

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.

That makes us very difficult to spend because some other technologies have been used for crypt I currencies. But some aren't know how to use it and how to transact money online. It will be difficult to dome older age unless you are expose to this things

[Casabrandy]

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.

That makes us very difficult to spend because some other technologies have been used for crypt I currencies. But some aren't know how to use it and how to transact money online. It will be difficult to dome older age unless you are expose to this things

It will be appreciated by people who are more in technologies,savings and into online transactions and the idea that we can also earn from it. But we can't deny that for now we still need to have our regular currencies since there are no enought facilities that accepts cryptos.

[FlightyPouch]

i dont think cryptocurrencies are better because they can not work offline and transactions are not very quick like they are in conventional money. moreover,transactions charge high feesBTC which makes their use impossible for small transactions.

Why do people hate the high fees while the price of bitcoin is so high and the people using it multiplying, the fees will obviously be having an increase too.

But the thing is, these conventional money or the fiats are far more better than digital currencies. It needs a lot of years before it needs to be compared to conventional money.

[avikz]

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.

Personally I believe, crypto currency is not better than fiat but certainly better than a credit card. because in my country, the rate of interest I pay in my credit card is 4% monthly, that sums up to 48% yearly. So bitcoin or any other crypto currency is way better than credit card. But not better than fiat.

Fiat is much more acceptable than any other currency here because they are acceptable in all merchants. The acceptability is what made is different and better. Cryptos are good for investment but not as a payment processor.

[Rigorous]

i dont think cryptocurrencies are better because they can not work offline and transactions are not very quick like they are in conventional money. moreover,transactions charge high feesBTC which makes their use impossible for small transactions.

Why do people hate the high fees while the price of bitcoin is so high and the people using it multiplying, the fees will obviously be having an increase too.

Because that's not how it was supposed to happen:

why do we even need fees ? i thougt the no-fees-feature was one of the advantages of bitcoin ?!

Almost all transactions are free.  A transaction is over the maximum size limit if it has to add up more than 500 of the largest payments you've received to make up the amount.  A transaction over the size limit can still be sent if a small fee is added.

The average transaction, and anything up to 500 times bigger than average, is free.

It's only when you're sending a really huge transaction that the transaction fee ever comes into play, and even then it only works out to something like 0.002% of the amount.  It's not money sucked out of the system, it just goes to other nodes.  If you're sad about paying the fee, you could always turn the tables and run a node yourself and maybe someday rake in a 0.44 fee yourself.

Also the fees are so high I might as well use Paypal, Visa or domestic electronic payment methods.

[kelceyott]

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.

When you hand in a large amount of bitcoin you need a password to protect your money rather than cash. Bitcoin brings benefits to users. Keeping money in your wallet is much safer when you hold cash. The whole world is heading for the bitcoin market.

[Fatanut]

i dont think cryptocurrencies are better because they can not work offline and transactions are not very quick like they are in conventional money. moreover,transactions charge high feesBTC which makes their use impossible for small transactions.

The Internet connection doesn't matter that much anymore because Internet is available almost everywhere. This is certainly true especially when you live in a first world country or at least you live in a city in a third world country. For the high transaction fee and long transaction time, well that's just the case for bitcoins. This topic is for the whole cryptocurrency so you should start using altcoins.

There have been campaigns in the past that have changed from paying with bitcoin to paying with ETH because of the high tx fee. I suggest you start doing that. It's obvious that you weren't aware of that.

[BartS]

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.

It depends on what aspect you are talking about, bitcoin is way better in some aspects, like the fact we are our open bank and that we can send transactions all over the world without using any centralized third party, to me that makes bitcoin great.

[ModGirl]

i dont think cryptocurrencies are better because they can not work offline and transactions are not very quick like they are in conventional money. moreover,transactions charge high feesBTC which makes their use impossible for small transactions.

The Internet connection doesn't matter that much anymore because Internet is available almost everywhere. This is certainly true especially when you live in a first world country or at least you live in a city in a third world country. For the high transaction fee and long transaction time, well that's just the case for bitcoins. This topic is for the whole cryptocurrency so you should start using altcoins.

There have been campaigns in the past that have changed from paying with bitcoin to paying with ETH because of the high tx fee. I suggest you start doing that. It's obvious that you weren't aware of that.

As far as the internet connection is concerned, it is now made very cheap and almost available in all areas that even show few signs of development. Furthermore, these smart phone companies, apps and calling networks have made access to internet quite easy for everyone. The complaints against high transaction fee and long time of confirmation do not seem so strong and worthy.

[ufaiz50]

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.

you should also look at the positive aspects of the regular currency to rate something. indeed bitcoin more profitable users so many people will prefer to use bitcoin.

[AK47-]

We definitely need both. The cryptocurrencies which has limited supply will increase in value with time as demand will increase. This will make them ideal for investment rather than a currency of everday transactions. The cryptocurrencies  which has unlimited supply or less demand aren't that lucrative than their fiat counterpart. Both fiat and cryptocurrencies are needed atleast for now because of various reasons already been listed in this thread. Cryptocurrencies are still in their starting phase. Lets see what future has to bring.

[andrei56]

The significant amount of performance and scalability issue with cryptocurrencies is major concern. Crypto is better than  fiat in sense of openness. Once scalability issue is resolved with crypto like bitcoin then there will be no match for bitcoin (other crypto as well).

This, the issue of scalability is the greatest issue for bitcoin if it can get solved then there will be nothing stopping bitcoin to take its rightful place as one of the best currencies in the world and the best when it comes to ownership, since no one can take your coins away from you the way banks can do with fiat.