Bitcoin = Fiat

[dothebeats]

Just as salt is used as a currency back in the days.

Saying bitcoin is fiat since they're both currencies is plainly wrong. Bitcoin would never be inflationary, it would stay its 21 million hard cap and fiat would just keep printing paper money like hell. Aside from that, fiat is centralized whereas bitcoin? No central banks/government issuing and regulating it.

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[Karakyli]

Your reasoning is not true. Let's say bitcoin is a currency. But from the fact that bitcoin currency does not follow that it is fiat. Fiat is the money of a certain state, the usual paper centralized money, and bitkoyn is not. Bitcoin on the contrary is practically the opposite of fiat, because it is not created by the state, and therefore the currency is suprastate and decentralized, digital. Based on this, this is a completely new kind of digital money.

[PMmesexycoins]

Fiat is not backed by any commodity or asset, it can be created by just printing more, but in turn it will decrease it's value, a misconception is, once Fiat becomes obsolete, Bitcoin will be the dominant currency and will more likely to become like Fiat instead, one thing they are forgetting is that, Bitcoin is not only a currency, but an asset as well, there is a reason why people call Bitcoin gold 2.0, and that is because it has the traits of gold, but it is in the digital form.

Bitcoin itself isn't really better in that aspect, it's backed by no more than people believing it being worth something. It's being traded as an asset more than as currency at the moment, but it's not gold.

[Irvinn]

If one assumes that bitcoin is a new currency, then it does not come out logically from the fact that it is fiat. Crypto currency and ordinary paper money are the opposite. Fiat are the creation of one or several states. Crypto currency is not tied to any state and therefore it can be regarded as a supranational currency. Fiat is always centralized, and the crypto-currency is inherently decentralized. Therefore, such a statement is not true.

[michellee]

The Bitcoin followers keep saying the Bitcoin is a new currency.

If that is the case then by definition it is fiat.

When it is fiat, then we will see inflation and breaking the 21million limit.

in my opinion, bitcoin is like a source for us to make money from internet and now bitcoin is not like fiat which can be used in real life although only few country that could used bitcoin for offline transaction. but yes bitcoin can be a new currency in future but for now, its just a new currency that we used in internet and makes us easy to pay something that we bought at internet.

[Oliver A]

 fiat currency is “centralized” and digital currencies like Bitcoin are “decentralized”

[Nasty23]

The Bitcoin followers keep saying the Bitcoin is a new currency.

If that is the case then by definition it is fiat.

When it is fiat, then we will see inflation and breaking the 21million limit.

in my opinion, bitcoin is like a source for us to make money from internet and now bitcoin is not like fiat which can be used in real life although only few country that could used bitcoin for offline transaction. but yes bitcoin can be a new currency in future but for now, its just a new currency that we used in internet and makes us easy to pay something that we bought at internet.

Yes because of bitcoin we can now be easily to purchase any things that supported bitcoin as a payment method in the internet and also they provide us a good way to earn extra income for our daily lives but in order to be fully used bitcoin in our daily life we need to convert it to Fiat so that we can easily to transact in any people that we've been encounter in our daily life.

[Nancy Lisa]

Bitcoin is completely different from fiat

[dhka]

To me bitcoin is not fiat, not a currency
It is more like gold, an asset, people hold it for long term value
Beside that, will you do a $10 transaction with $5 fee? Not worth it right? 

[loragean03]

The Bitcoin followers keep saying the Bitcoin is a new currency.

If that is the case then by definition it is fiat.

When it is fiat, then we will see inflation and breaking the 21million limit.

bitcoin is a new currency not a new fiat. you misunderstanding the difference to the two. fiat is issued by the government by its country, while bitcoin are issuing world wide without anyone can manage or control of it. so this (bitcoin) can be a new currency that can be use of anyone anywhere that no one can manipulate its own price.

[aray80]

Bitcoin is the same as Fiat in my opinion 'Yeah, same .. only, bitcoin is money in the form of Digital while Fiat already prints Banknotes. 

[darkangel11]

Bitcoin is the same as Fiat in my opinion 'Yeah, same .. only, bitcoin is money in the form of Digital while Fiat already prints Banknotes. 

And they can print more and more driving the price down. Can you do it with BTC? Nope. How come those two things are the same in your view?
You're also forgetting another important difference which is control. Nobody can take your coins from you, but fiat doesn't belong to you. It's the property of the government, while you're a temporary owner. If they decide it's time to take back you won't be able to do anything.

[bitfocus]

I think OverStock CEO Patrick Byrne's This little Interview Clip will help you understand Bitcoin Better.

"It’s Time We Switch to Real Money, Either Bitcoin or Gold"

Youtube Video from Fox Business: https://www.youtube.com/watch?v=Y9XWghQb20k

[tutorroma]

When bitcoin was designed from the beginning, the total amount was fixed, 21 million. He is, in fact, deflationary. The government does not want to see such a currency, because inflation is beneficial to the government's business. If you don't print money, it means you don't get votes.

[meanwords]

The Bitcoin followers keep saying the Bitcoin is a new currency.

If that is the case then by definition it is fiat.

When it is fiat, then we will see inflation and breaking the 21million limit.

What are you saying mate? Bitcoin is more like an asset now like Gold and Silver rather than a fiat currency. A fiat money is controlled by the government and its supply can be massively increase while Bitcoin is not and its price is fixed. And by the way, fiat money is issued by the government while Bitcoin is not. You should read more about Bitcoin and what is the purpose of this.

[aimata27]

Actually fiat defines as a currency that a government has declared to be legal tender. There's no government that introduces bitcoin as their national currency, so what are you talking about?

[btc-facebook]

IMO, bitcoin is not fiat , fiat is currency that can be own physically !
Bitcoin is different things and it's consider as asset rather than fiat/currency so it's better to keep bitcoin rather than fiat

The Bitcoin followers keep saying the Bitcoin is a new currency.

If that is the case then by definition it is fiat.

When it is fiat, then we will see inflation and breaking the 21million limit.

[baradfo]

The Bitcoin followers keep saying the Bitcoin is a new currency.

If that is the case then by definition it is fiat.

When it is fiat, then we will see inflation and breaking the 21million limit.

You should do some homework on how Bitcoin was created.

https://www.mail-archive.com/cryptography@metzdowd.com/msg09959.html

It would probably help you a lot in your line of thinking.

[oemar bakrie]

Yuuup.
Due to the development of the times all can deal with bitcoin., And we use to buy anything without using real money..!!
For now bitcoin prices are very promising because every time is always changing.