Why Bitcoin is better than banknotes

[Bessta]

I think the technology, fast transactions, anonimity, security that bitcoin bring are the elements that make btc better but these do not make banknotes lesser financial note.

[extrajuu333]

It was the pioneer at the blockchain technology, that's why it's so unique and important.

[imesh4you]

I think Bitcoin is very matching to the new generation world. It is very smart and very interesting. I believe Bitcoin is much better than banknotes because Bitcoin is very easy to use, Fast transactions, High profitable, great security features in the Bitcoin. I think these are the most important thing Bitcoin's have. I hoping, Soon day Bitcoin can become a valid payment method in the world. For me, Bitcoin is very very better than banknotes.

[kangbasir]

if I think the Bitcoin exchange rate is high and also faster and easier to deal with then bitcoin is a crypto currency with an increasingly sophisticated level of Hash the level of complexity of the cryptographic algorithm of public trust is also guaranteed to avoid risks such as counterfeiting.

[zarintasnim]

Bitcoin is  better than banknotes i am aggre with this. There are so many reason that bitcoin is very good to bank not. Bitcoin is your on one can take bitcoin from force to you, No need to go any place to collect bitcoin. You can complete thousand of economical work at your home.

[kemonojim]

If we only look at this angle then we can say that bitcoin is really better than paper money but if we look at accessibility like remote areas without electricity and internet access in remote areas in third world countries then we can say that paper money is better than bitcoin. But both paper money and bitcoin have their own unique advantages and disadvantages.

[podidhana]

In my opinion is, Bitcoin is very very better than banknotes. Bitcoin is a very very interesting digital currency. Billions of people are using BTC and they are using BTC for some transactions. Most people are very like using BTC transactions because It is very easy to use and it's fast and safe. By the way, it has great security features. Actually, BTC is very valuable than banknotes.

[LeGaulois]

In many ways, yes, it is a lot better: reliability, cost of transaction, etc., etc., but it becomes totally useless when you have to make an off-line payment in a country or a place with no or limited internet access. You can't even buy a bottle of water or a hamburger. Think about it. You can have a lot of BTC in your digital and hard wallets striding along the street in a foreign town and if they don't have internet, you're broke for them!
There must be some way out of it...

Because it is safer and more reliable than banknotes

Bitcoin is better than banknotes because bitcoin that has blockchain technology can record all transactions and still intact will not be lost or deleted. And bitcoin is more popular these days and bitcoin has easy ways to access and to transact, and since bitcoin itself are havingva faster transactions in terms of money exchange with a very low fees. And also, 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 that had an shortage of sources in the third world countries then we can say that banknotes is better than bitcoin.

Banks, Visa, Mastercard, Discover, AMEX, etc have all their transactions registered in the databases. Good luck to get them deleted, so far I have never heard about transactions history lost from a bank.
Bitcoin doesn't have a faster transaction time compared to bank transfers which are instant and free of charge in 99% of the time.

The point I wanted to say in the OP was about what it costs to the society

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.

[Coinnosaurus]

Coz bitcoin is accepted worldwide already as a method of payment, the system has been acknowledged internationally as a reliable means of exchange.

[Supremacy1]

It is better than bank notes bcos of it decentralized nature , it doesn't require intermediary to makes a transaction and it is not under the control of any government

[tunapa]

Definitely I agreee with you. Counterfeiting Bitcoin at this stage is very limited or zeroed maybe when we get to paper note stage it might come in play by now, its more preferred to bank notes because it offers many solutions to the deficiencies of bank notes.

[Horace_Damico]

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 !

And what about exchange hacks? How many fiat exchanges have been hacked in however long they've existed?

My point is that there will always be fakers, counterfeiters, scammers, and cheaters of every kind. It doesn't matter if we're talking about dollars, bitcoin, gold, pashmina, or walrus tusks. People know how to find shortcuts, and they will always find them. Make something forbidden, and they'll do it even quicker.

Bitcoin definitely is more secure than fiat. It's not perfect, but it's a step up.

[AnnaGeraMsk]

for me so bitcoin is better than phiatic money, bitcoin is convenient and versatile and safe

[jak3]

I don't know why this topic even exists I mean there is no arguing about Bank notes they clearly suck. The first thing is we have to carry them separately in a wallet or maybe in the pocket that can potentially damage it which can make it lose its value because no one is going to accept the damaged agreement. The second thing is the price is decreasing as hell and even if the government has taken extremely higher precautions that the money cannot be counterfeit but still it is possible to do it but with Bitcoin, it is impossible you cannot duplicate a single coin. Banknotes do not have a specific transaction record system because we use them in the physical world but Bitcoin, on the other hand, has the transaction system because they are inside the digital system.

[Ashwin Kumar]

Bitcoin is better than any other fiat currency. There are so many reasons behind this comment. First of all bitcoin is a decentralized currency. No one can manipulate its price. Bitcoin do not need to have any physical existence that means it does not need to have a machine to make a transaction. It needs just an account and a password. It has no boundary no extra hassle.

[adjong]

for me bitcoin is better than banknotes because it runs bitcoin even on the internet and the person is working to earn and find a company to work hard. Because of the money the bitcoin is better for me than the banknotes

[burakdat]

There are many possibilities that banknotes are just really the notes and had no value because you can wrote anything on bank notes but when you get to the bank for an exchange there is none especially those people that are doing transaction and are just only scamming other people using bank notes. Bitcoin is indeed really better than bank notes because bitcoin after trading you can see already the worth of it in equivalent to fiat money.

[KeezAZA]

Those listed are just up this because everybody know that digital money or even cryptocurrency is way more comfortable for people to use and exchange, it was predicted 100 years ago.

[tot-o]

Banknote can be damage or rotten like rats can destroy it, water can melt it, people will easily steal it from your safety place but with Bitcoin you can keep them with private code and it will crack people head before they can crack you Bitcoin wallet password to take it.

[freetoken01]

I already follow information about bitcoin from last year until now. And I think Bitcoin have good technology but using in actual is difficult. Why like that?
Because:
1) Price of Bitcoin is unstable and changing daily. So that if transfer as banking then at this time it has price 6500$ but only 1 hours or 1 day It can increase to 8000$ or decrease to 6000$.
2) Bitcoin still not accept by banking --> Only buy and sell buy trader or some one

I think when Bitcoin have management and price stable then we can using it