Why Bitcoin is better than banknotes

[Ilegendph]

The infographic shows the 10 most popular banknotes worldwide with its anti-counterfeiting security.
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.

it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.

Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !

This is a very good information. This argument can be used so that the government of different nation that bans crypto could think twice of their movement. Cryptocurrency could replace the traditional bank notes, its just needs a little improvement in speed of transaction.

[Jonathan Greenn]

Bitcoin is better than paper money because it deals with fast, safe and secure transactions. The cost of international transfers is low, limited to 21 million coin. Be protected against inflation. No one can control and print Bitcoin as cash.

[Amy Halll]

In terms of the above, Bitcoin is better than cash. But you can not just compare one aspect that concludes that Bitcoin is better than cash. Each of them has its own advantages and disadvantages. Bitcoin, for example, is not stable, it's not a function of a currency, it's not popular in all countries or in remote areas or people who do not know the internet will use it. yes, ...

[ammo121810]

Bitcoin is better than banknotes because of the fast facing value and it is decentralized and the income we might generate from investing in bitcoin is very worth it.

[meritbygrace]

Bitcoin is more risker than banknote.Anything can happen to your BTC wallet any minute, But banknote  i feel is better and secured,reason your seeing how your banknote goes.

[A7373]

In my opinion its just becouse of it's anonymous, fast speed of transactions, cool privacy and small transaction fees.

[ashfer]

Bitcoin is an electronic asset mean time bank note is a physical currency with the specific value.If there will be a financial recession to the country means the value of the bank note will be depreciating mean time the value of bitcoin will be stable .Bitcoin can be useful for the world wide shopping and mean time the bank note can be used only inside the country . Bitcoin is useful for the easy and fast transactions  world wide with out the interference of the third party .So the bitcoin is better by all means.
      

[Raidal]

Actually bitcoin and banknotes each have weaknesses and strengths. There is no perfect currency that can be used anywhere and in any situation. I don't say that bitcoin is better than paper money, it's just that I will say some of the advantages of bitcoin that paper money doesn't have. Security, bitcoin is safer than paper money. Bitcoin is safer than the danger of physical robbery. Other people also don't know how much bitcoin we have because control of bitcoin is on ourselves. Bitcoin is also more practical because we can carry bitcoin anywhere because bitcoin is digital. While for paper money we cannot carry in large quantities because it will burden us.

[Dread Pirate Roberts]

"Better" means not always the same as what's important with people needs. bitcoin is not regulated by any institution. if lost there will be no guarantee we can get our value back. different from banks. but to be a means of payment I agree that bitcoin is the best payment. but for currency for daily use. fix value stil needed.

[pambud]

Both are good and helpful , banknotes are the classic way while bitcoin is modern technology, that's why in some countries it hasn't legalized Bitcoin .

[Favouredhart]

This is indeed interesting,bitcoin is better than bank note because it can be carried everywhere and no matter the quanty while for banknotes,you have a limit to what you can carry

[splash914]

Well ... I'll say what I say always ...
Bitcoin is decentralized, respectively for me it is already a very strong argument in the bitcoin pain regarding paper money. Yes, and the form of money in paper is outdated, it's time to become digital money

[biskitop]

this is a good topic. it is true that banknotes can be falsified and that is certainly very detrimental to the country. whereas bitcoin cannot be forged.

[ErlindaBit]

If we are just looking at this angle then we can tell that bitcoin is really better than banknotes but if we look at accessibility such as the remote areas without electricity and internet access on remote areas in the third world countries then we can say that banknotes is better than bitcoin. But both the banknotes and bitcoin have its own uniqueness, advantage and disadvantages thus its good to have both.

Very true, I agree with you. Assessing cryptocurrency (Bitcoin) and paper money from a regional perspective and one's condition. Bitcoin is very valuable for those who have internet coverage, so Bitcoin is only owned by a few people.

[SnapDown22]

The infographic shows the 10 most popular banknotes worldwide with its anti-counterfeiting security.
There are thousands of million dollars counterfeit circulating worldwide. Just in The US the FED said 7.3 We conclude that the total value of counterfeits in circulation at any moment is approximately $70 million or about one note in 10,000, and is highly unlikely to exceed
$200 million, or about 2.5 in 10,000.

it's costly for the society (more regulations, more resources to deter, individual or business accepting it accidentally >direct loss,...) Counterfeit money exists since the Ancient Rome at least, and it can destroy a government and its economy. Even the Nazis were counterfeiting the USD and GBP (Operation Bernhard) If only 1% of your circulating currency is fake your government is out. It can't borrow money anymore, business will stop to accept the currency, and since it's the only one, then the economy will be dead.

Do you know how many Bitcoin has ever been counterfeited since10 years? ZERO !

falsifying bitcoin I've never heard the news I think faking bitcoin might need to be considered because we know the price and value of bitcoin cannot be determined with certainty currency counterfeiters will certainly think further about it

[mornabo]

I believe that transparency and minimum commissions are one of the main qualities of the crypto currency, and there are no geographical limits.

Thats true, with banknotes you will be troubled in bringing a lot of money and crypto will be more flexible, besides that you are right that there is no geography limit, you can shop and transact with anyone around the world without a hitch away by using crypto, different from banknotes

[Spaffin]

In my opinion, still now it is impossible to say which is better - bitcoin or banknotes. Bitcoin can not do without fiat. The crypto currency and ordinary money has its advantages and disadvantages. Therefore, you need to take advantage of both types of money. Now you do not need to use just one thing. For the time being, we mainly earn in the crypto currency, and the profit is partially transferred to fiat, since it is not possible to directly use the crypto currency as a kind of money.

[Wonderced]

because many people doing bitcoin faster than banknotes and for that safety and reusable, flexible and helpful

[liseff3]

For some people, many don't trust this currency because the way it works is rather strange. The greatness of this currency is its cryptographic technique that can protect its users. Bitcoin security comes mostly from hashing, and this hash's used to link one block to another block in the blockchain. Each block stores the previous hash block, and the hash value cannot be replaced without changing the block hash value now (which also needs to be changed in the next block, and so on like that).
When making transactions with bitcoin, actually we all send the transaction to the network of miners. To ensure that no person can transact using our wallet without being known, in this case there's some security that's enforced. With bitcoin, it means we don't have a pile of money that can go up and down like money in a bank. Instead we have a set of bitcoins which can be traced, up to the first miner.
With existence the assumption above, of course bitcoin's the only best currency than paper currency, because the system of the spread of paper currency's very flat no wonder if finally paper currency is very vulnerable to fraud and counterfeiting.

[jatin729]

It is obvious that bitcoin is more secure currency than physical notes. Here are the reasons
1. No need to carry physically any currency.
2. Save electronically and access it any time whenever you want.
3. 24*7 Availability.
4. Low transaction fee and borderless transactions.