Why Bitcoin is better than banknotes

[timerland]

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 !

There are honestly just too many benefits.

The main one is probably not even about the counterfeiting that goes on with these banknotes. The main issue with fiat banknotes is indeed just its fiat nature. The money supply is solely controlled by central entities that has shown that they are more than willing to debase the currency supply and essentially create this invisible tax that everyone has to pay through inflation. And hyperinflation can also occur as a result. Just look at Zimbabwe, Argentina, WWII China etc.

Even if it's not hyperinflation, just look at the depreciation of the dollar over time. Crazy.

Bitcoin's benefits can really be compared to gold. However, gold can often be counterfeited and it's hard to tell real gold from fakes, and even if you could, it's a costly procedure that is extremely time consuming and just a hassle overall. Bitcoin does not need this.

[Kazuyukie]

Bitcoin has no use value, only exchange value, and because it is has no worth in use other than what others are willing to pay for it, it is always in a bubble: these happen when prices of assets get dislodged from their fundamental value. So Bitcoin is the perfect bubble. Now the obvious question that this raises is the following: Is Bitcoin so different from the dollar? a dollar bill also has no use other than what people are willing to pay for it. and if people decide they wish to trust the people who create the Bitcoins more than their own government, then perhaps it could be an alternative medium of exchange.

[bitfocus]

don't get torn, no need to replace, safer and reliable etc.

[reality18]

Bitcoin is better than banknotes because the banknotes are subjected to the creation of counterfeit, wearing off and tearing. Banknotes are also subjected to central third party interference which normally makes its transaction delay in some circumstances.

[Sate Jamu]

Things that make bitcoin worthy of being a future transaction system are faster, better, cheaper and certainly safer, this is what makes banks worried about the development of bitcoin so they carry out various negative campaigns about bitcoin.

[Ar Rahman]

it is true that bitcoin is better than paper money, because its value is very high compared to banknotes, and that applies throughout the world, we can shop using bitcoin in other countries, and if we use paper money we have to exchange it in a country we visit, but if we consider it from another perspective, paper money is also better, like in remote areas, in rural areas and there is no electricity or internet, then paper money is better than bitcoin, so it would be better if we had both.

[CryptoKush]

I think banknotes are much easier to counterfeit. I think that now there are a lot of fake banknotes in the world. In addition, banknotes are printed in large quantities in contrast to Bitcoin.

[Stac]

Bitcoin is better than fiat currencies as it makes the work easy of transacting world wide with out having to approach the banks for transferring funds to any part of the world, bitcoin gives a sense of financial freedom to it's users. Bank notes can be stolen whereas bitcoins cannot be stolen as it is a digital currency and the bitcoins are transferred through online protocols to the wallets and vice- versa. Fiat currencies can be duplicated whereas bitcoins cannot be duplicated  and so manipulation will not happen in a bitcoin network.

[saruxanyan]

I think that bitcoin is better than fiat money, because bitcoin can be assessed as an investment (asset) and they also have no problems, you can pay.

[prediction on bush]

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 !

I think why bitcoin is better than banknotes is because  Bitcoin does not rely on a central authority such as a central bank and has no intrinsic value. There are no public records of the transactions which makes them irreversible.

[mmo_online_1981]

Bitcoin can not be better than Bitcoin Bank!
Bitcoin and altcoin will grow rapidly in the near future!
2019 will have a lot of changes!

[smile1218]

Bitcoin is better than banknotes is because in terms of profitability it has a higher rate of returns and it is safer compare to banknotes.

[mirzanaufal2701]

I think bitcoin is more netter than bank note because the bitcoin price can change day by day and than Bitcoin can use through the world
But minus of bitcoin is fee transfer fee very expensive

[fidelium1]

Bitcoin is better than paper money in some many aspects, I will just briefly highlight some points: Unlike paper money, bitcoin cannot be damaged by water or any other liquids, bitcoin cannot be mutilated like paper money, also, bitcoin cannot be physically stolen except it is done online. There are a lot of other things that makes bitcoin and in fact cryptocurrency a better currency than fiat currencies, such as the ease of transfer, durability, etc.

[Renai0925]

The blockchain is poised to replace our current standard of trade which is fiat money. But for me, we are a long ways still form this happening. It will have to go through lot of research and government drama worldwide. It only needs one successful country to create a domino effect though.

[bright4mech]

Bitcoin is a digital currency that is acceptable across the nation, that can add values at any give point in time, therefore bitcoin transaction is fastest transaction that not required long protocol before sending. Which is far better than Banknotes.

[Roomshambles]

Because the advantages of bitcoin are more than bank records and the more people who use bitcoin, then people move by using bitcoin in the end.

[riosakamoto]

That is a strong point that adds up to the list of Bitcoin benefits, it's true that BTC has never been counterfeited but let's not forget that hypothetically it's still not immune to the 51% attack and we know that in 2014, the mining pool ghash.io briefly exceeded 50% of BTC network's computing power, afterward they voluntarily committed to reducing their share of the network. Today, from a realistic view it's very unlikely to happen again.

[Phan Long]

Both have advantages and disadvantages, bitcoin can be hacked, banknote is difficult to circulate widely. In addition, the price of bitcoin often fluctuates, I think later we need to find the optimal solution. I like banknote than bitcoin.

[tuturutmunding]

Because it has several advantages of paper money easier and more practical in making payments or purchases so that it is widely used and has the highest popularity in all countries