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Author Topic: FIAT CURRENCY VS CRYPTOCURRENCY  (Read 813 times)
Angle22
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June 14, 2018, 08:09:07 AM
 #21

Actually fiat and bitcoin money is not worth competing, the appearance of bitcoin in the financial world is not to disrupt the existence of fiat money, but the bitcoin serves as a payment option, and bitcoin also serves to offset the deficiencies in fiat money. So the point between bitcoin and fiat money is not worth mentioning the competition, because bitcoin and fiat money have their respective deficiencies.

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June 14, 2018, 10:26:38 AM
 #22

The main difference of fiat currency and cryptocurrency is decentralized and centralized.
Fiat currency is have a controller like government and bank system, but crypto is nothing control it.
Then, cryptocurrency for me is a freedom of money system.
This view is more like advertising of crypto-currencies. Where you see decentralization. Exchanges require the same documents that are required to open a Bank account. Accounts of large users can be frozen to provide additional information, etc. Whales captured all the major exchanges and now dictate prices. You call this decentralization?
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June 14, 2018, 10:55:13 AM
 #23

Fiat money (or fiat currency) is currency that a government has declared to be legal tender. Cryptocurrency is not legal tender and not backed by a government.

Fiat money can take the form of physical dollars (for example paper Federal Reserve notes), or it can be represented electronically, such as with bank credit. The government controls the supply and you can pay your taxes with it.

it is decentralized and global, its form is more like bank credit sans the bank (in that it is represented digitally, but not backed by a bank or government). An algorithm controls the supply and you can’t pay your taxes.

The crux of the matter is, the advent of cryptocurrency is is putting some pressures or fear on fiat money.
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June 14, 2018, 11:02:26 AM
 #24

I believe we are the pioneers for the future of digital currency. Government takes time. We need to be patient, it may take a couple of years for full main stream adoption but FIAT will become digital soon.
Patience must be the key for this kind of revolution but i still believe fiat money will stay forever. Governments have to make sure that this market is really safe for its people so they need time for this. Fiat money and cryptocurrency will stay in this market no matter what.
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June 14, 2018, 01:55:51 PM
 #25

this is a very useful article, I have emphasized a lot for myself! everything is correctly written: a new era of money has come! and those countries that do not now begin to actively develop in this direction, they will lose a lot, they will have to catch up with other countries for a very long time! I'm sure that bitcoin and the whole system is the future of the whole world! over the last few years the world has changed, the economy of many countries began to develop and grow faster! Bitcoin and the whole system gave a huge push to the world economy! after reading this article, many people who speak ill of bitcoin will immediately change their minds! Thanks for the interesting article!

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June 15, 2018, 01:00:10 PM
 #26

The main difference of fiat currency and cryptocurrency is decentralized and centralized.
Fiat currency is have a controller like government and bank system, but crypto is nothing control it.
Then, cryptocurrency for me is a freedom of money system.

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June 15, 2018, 01:03:25 PM
 #27

The main difference of fiat currency and cryptocurrency is decentralized and centralized.
Fiat currency is have a controller like government and bank system, but crypto is nothing control it.
Then, cryptocurrency for me is a freedom of money system.

Yes, this are the difference but there are still a lot of differences between fiat and cryptos. And a lot of people now are liking cryptos but is still using fiat ofcourse, for their daily financial needs.
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June 15, 2018, 01:58:17 PM
 #28

Actually both are different types of things but their motto is same because both are currency also this but one is made with paper another is based on online but these two things are using for trading system also crypto currency is new in the market but have good values in the market.
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June 15, 2018, 02:21:51 PM
 #29

Fiat Currency: Inconvertible paper money made legal tender by a government decree. It is also can be called representative money. Physical Money, Unlimited Supply, Issued by a government, Centralized Money, value determine by the market and regulation.
Cryptocurrency: Is a digital currency and not legal, Limited supply, produced by the computers, Decentralized, value determined by the supply and demand.
Both Fiat Currency and Crytocurrency can be called money or currency.
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June 19, 2018, 11:04:54 AM
 #30

They cannot be compared, FIAT currency is used by all of us, unlike Crypto currency it is used only by the people who understand and accept it. Most countries are not yet accepting this digital currency

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June 19, 2018, 11:13:41 AM
 #31

Cryptocurrency and fiat will both be there in the future. But people will slowly use more crypto since it is easier to do transactions. People move towards what is easy.
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June 19, 2018, 11:53:32 AM
 #32

They cannot be compared, FIAT currency is used by all of us, unlike Crypto currency it is used only by the people who understand and accept it. Most countries are not yet accepting this digital currency
I agree with you that for today fiat currency is used by us, and crypto is used by some people who understand the crypto world.

but more interestingly, if we speculate about the future of fiat and crypto, what do you think about them in the future?

I ask your opinion about the end of the crypto world journey.

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June 19, 2018, 12:23:25 PM
 #33

Fiat currencies are always available in entire world because most of the Cryptocurrencies are move to fiat currency in future so we don't compare the current status. Because many countries are still not aware in Crypto potential maybe 2025 most of the government are accepting the legalization finally many governments are approved the Fiat currency.

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June 19, 2018, 12:39:01 PM
 #34

In comparing fiat currency to cryptocurrency has a lot of opposite to each other. Fiat  currency are still the main currency that we use in our present time even if cryptocurrency are already existing.  However, cryptocurrency are much demanding in the market because the sense of  fastest way of earning profit by the use of its system. But the good thing to fiat currency is not volatile unlike crypto currency that has a very high volatility that may brings bad and good cause.

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June 19, 2018, 12:46:15 PM
 #35

Fiat currency and cryptocurrency differ in terms of the platform it function. Fiat has a perfect backing which is backed by the gold and officially recognized by the government. With bitcoin the technology is the backbone for its successful functioning, and it is much more effective than the fiat.

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June 19, 2018, 12:49:00 PM
 #36

Fiat and Cryptos are the two side of the same coin, one cannot survive without each other and it's a shame that people confuse that cryptos can eliminate fiat, there is no need to eliminate it, rather it can stay side by side and it can be beneficial to users, so there is no need to be scared of cryptos. Each one has certain importance and both are required.

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June 19, 2018, 01:03:11 PM
 #37

actually fiat can survive without cryptos so far!
and until we do not have a stable crypto (tether can't work because its mechanism is not clear) fiat currencies can't be replaced!
Bitcoin it's not a store of value, and it's not a stable currency... Bitcoin is a transactional/investment crytocurrency/"asset". I don't know how to define properly bitcoin, it is something pretty new for the world!
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June 19, 2018, 01:25:30 PM
 #38

Very interesting story you have, but I want to tell you about a different point of view. Imagine, a dollar would absorb bitcoin. All American public debt will go to bitcoin. All bitcoin capitalization will be equal to the debt obligations of the Us Fund. On the one hand it is difficult to believe, but in fact it is possible to plan America's plan to avoid the default of America.
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June 19, 2018, 01:41:32 PM
 #39

FIAT is infinite supply controlled by government institutions with no transparency investing on it , while cryptocurrency is limited supply full transparency seen into the blockchain that the main reasons make governments including big players (USA,UK...etc) fight us very hard because of collapse might happen if the adaptation get bigger and bigger every year .

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June 19, 2018, 02:58:41 PM
 #40

Actually fiat and bitcoin money is not worth competing, the appearance of bitcoin in the financial world is not to disrupt the existence of fiat money, but the bitcoin serves as a payment option, and bitcoin also serves to offset the deficiencies in fiat money. So the point between bitcoin and fiat money is not worth mentioning the competition, because bitcoin and fiat money have their respective deficiencies.

Fiat currency is a Goverment-issued currency (ex. US dollar).. Cryptocurrency is a digital or virtual currency.. Both currency are convertible to sustain our needs and can be use as a payment or can be used as a form of exchange..
Fiat currency is controlled by th governent through banks.
Digital currency cannot be controlled by governments, or by anybody for that matter. It’s a decentralized currency system with a fixed supply that is essentially run by computers.
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