Crypto vs Fiat?

[EvaGC]

I see a lot about the advantages of cryptocurrencies over fiat currencies... but how about the other way around?

[SirArthur]

First you need to know what they are.
Crypto is also fiduciary, this means, like fiat, isn't backed by anything other than trust. In fiat you trust its issuer, in Bitcoin you trust the blockchain. Unlike fiat the blockchain won't let you issue currency at will and won't let you be "less trustworthy", like the central banks of Venezuela or Zimbabwe.

The current only advantage of fiat, namely its biggest currencies, like USD or EUR, is price stability. A piece yet to be achieved by crypto which is highly volatile.

[shark69]

if talking cripto vs fiat. it is very interesting. because crypto could affect fiat circulation at this time. the proof of government in some countries has started to block user access to bitcoin.

[gabmen]

if talking cripto vs fiat. it is very interesting. because crypto could affect fiat circulation at this time. the proof of government in some countries has started to block user access to bitcoin.

Yeah though when used at the same time, crypto and fiat can make people's lives better instead of pitting one against another. Crypto still needs fiat, that can't be denied. And fiat can work a lot better with bitcoin

[im_not_dazzled]

I think fiat is agaisnt the crypto currencies. Because they have the opposite features and functions. So if one of them grow huge, the other will be disappear.

[ngod91]

I think fiats is the oldest kind of currency and crypto is the newest . They're someways the same helping human on method payment.