[2018-04-22]Bitcoin Versus Government Money: One is Clearly Superior

[Hannahanto]

Half of nearly all transactions involve money, a medium of exchange (MOE). For almost everyone, one of those halves has always been derived, considered, instituted by governments. Also known as fiat, government money, notes, they appear to us as inevitable, right as rain, plainly self evident. However, for the first time in a long time, those notions are being challenged by cryptocurrency. At least one of the world’s most popular versions has a real chance to take the advance of cash (peer-to-peer, permissionless, final, censorship resistant MOE) and make it a global reality. Digital cash is closer than ever imagined to mimicking its government paper predecessor, without the bother of inherent violence, carrying distinct advantages previously unavailable in history.

What Have Governments Done to Our Money?

If you’re new to thinking about money, welcome. It’s a vast, broad subject, and one that repays upon consideration and review. Chances are you’ve given the subject more thought these days due to wild cryptocurrency price speculation news. And it is thrilling. To think you’re able to invest in a digital asset at any stage, in full or fractions, and ride its swings can fill our heads with dreams of wealth accumulation. And if that’s the spark causing you to click over here, awesome. You should also begin to learn just why this bitcoin thing, this crypto thing, this brave new world is maybe even more important than typical manias or get-rich-quick schemes.

https://news.bitcoin.com/bitcoin-versus-government-money/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Your thoughts on it?

[Qartersa]

The truth is, government money is still superior to date because its acceptance encompasses borders. Basically, the TRUST turnout is 100% there. As for Bitcoin, it still has so many processes to undergo before it finally reaches the level as that of fiat currency in terms of acceptability, trust and viability to make it big in the future. These are actually just few of the requirements to be able to be denoted as a currency because governments have to safeguard the money of the public, in general. The road may not be easy to traverse but it will surely be worth it if Bitcoin is truly meant to stay.

[jjacob]

Half of nearly all transactions involve money, a medium of exchange (MOE). For almost everyone, one of those halves has always been derived, considered, instituted by governments. Also known as fiat, government money, notes, they appear to us as inevitable, right as rain, plainly self evident. However, for the first time in a long time, those notions are being challenged by cryptocurrency.

Nealy half of almost transactions involve money? I would have thought almost all transactions involve it, in some form or the other. You can have barter transactions, but I doubt if they would be significant in the larger scheme of things.
The role of fiat is definitely being challenged, but we haven't seen the countermoves of the government. That will come in the form of regulation.

[DooMAD]

Half of nearly all transactions involve money, a medium of exchange (MOE). For almost everyone, one of those halves has always been derived, considered, instituted by governments. Also known as fiat, government money, notes, they appear to us as inevitable, right as rain, plainly self evident. However, for the first time in a long time, those notions are being challenged by cryptocurrency.

Nealy half of almost transactions involve money? I would have thought almost all transactions involve it, in some form or the other. You can have barter transactions, but I doubt if they would be significant in the larger scheme of things.

It could be worded better, but I interpreted it as "nearly all transactions use money as one half of the transaction and exchanging for goods or services as the other half".  Barter trades are the ones that don't fall into that "nearly all" category.  It seems as though the second sentence is intended to clarify the first.  I'm pretty sure they're not suggesting that half the world's trade is barter. 

But they are suggesting once again that BCH is the "true" Bitcoin, which doesn't really seem to be borne out in reality, still effectively only able to operate at ~16% of Bitcoin's difficulty and only having ~20% of the total nodecount of Bitcoin.