Why Bitcoin is better than banknotes

[tracy2233]

Well! Bitcoin is a cryptocurrency which is far advantageous over the banknotes. The very first benefit of its being a universal currency which is acceptable as it is whereas banknotes are not. Secondly, it can be transfered anywhere in just one click whereas banknotes need a system which is connected to government and individuals face so many hassals. Thirdly, bitcoin can be easily and effectively managed at one’s own terms and conditions coz its urs and u are the boss whereas with banknotes u never know when the currency will get change and that can even happen over a night and at last u end up with bank notes which are no more than a piece of paper. Recently the note bandi happened in India is a great example. So bank notes are like keeping stress and worries along nowadays. However, cryptocurrencies proved to be a peace of mind.

[ToyotaFortuner]

yes, of course bitcoin will be better than bank records because bitcoin has technology that can record all transactions using bitcoin and use blockhchain technology, people can see all transactions and it's all open so that it makes better and better than banknotes.

[mithon2017]

Bitcoin is vertual currency. Bitcoin is better than banknote. because you can using it all worldwide. the government are not control it. so you can esaily exchange it. banknote is good when, the internet are not working. banknote and Bitcoin both have it own uniqueness , advantages and disadvantage. it's use depending on your knowledge about it.

[Sathya12]

Because it can not be tampered,so bitcoin better than the banknotes.

[thepers0n]

Yes, I think that BTC is better that banknotes in some aspects. For example we can make some operations with BTC on the Net without going out to buy/send something

[Nanot]

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 !

U

As for me if you dont have a bitcoin subject  but most off all  kt can teach learnibg to make it good ang better.

[vvvvictoria]

not sure that its better because its not very safe but on the other hand u can make a good profit if u know how to run it in a good way

[Kuchiyose]

yes, of course bitcoin will be better than bank records because bitcoin has technology that can record all transactions using bitcoin and use blockhchain technology, people can see all transactions and it's all open so that it makes better and better than banknotes.

Bitcoin and banknotes have different benefits for everyone and almost everyone needs both, so for me they both have the same and best benefits for everyone.

[aladlanie04]

bitcoin is better than bank notes because of  two things i feel its my opinion only, first point there is no transparency in bank notes  people can hold black money without any one knowing .second point avoid fake currency because in some countries people print  fake currency and bring into the distribution to do illegal activities . with bitcoin  we can bring transparency in money valuation , and second thing we can avoid fake currency notes  to avoid illegal activities.

[SilverCup08]

Exactly! The fact that it's digital and it's not regulated by the banks,make it safer and free of all these bank frauds. Counterfeit production by the way is a fraudulent activity of course. That among other types of bank frauds are avoided by digital currencies.

[emekaemeka]

Hello dudes, bitcoin is better than banknotes due to the fact that the speed of the transfer is many times faster than the banks and also it is the users who control the data.

[Switchern]

obviously bitcoin is better than paper money. because in terms of transfer, bitcoin is faster. and bitcoin can't be fake right

[kucritt]

why bitcoin is better than banknotes? i think bitcoin right now have the futuristic system named blockchain and we know that blockchain system is the secure platform and great platform than traditional platform that use the centralized database

[abhi777]

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.

because it's more convenient to use bitcoin with paper money. and money is easily damaged if exposed to water. and frequent robberies occur. if bitcoin is not likely to be robbed if you provide a personal code that is complicated and not easily hacked by hackers.

[Ms.Anna]

And when using banknotes and using bitcoin as a means of payment, there are pros and cons. In some situations bitcoin is more successful, and in some situations, banknotes are appropriate. The world is not yet absolutely ready for bitcoin as a means of payment.

[goldSkylark]

That’s just one amazing feature of bitcoin. But the bottom line is, bitcoin is technically designed to be better at being a currency. The fact that it’s permissionless, immutable and uncensorable –makes it a better alternative to fiat.

[CoinsGazer]

There is no upper limit on the number of banknotes. The drawbacks of banknotes are:
1.It is easy for the government to dilute social wealth by issuing additional money to pursue short-term prosperity or achieve other political goals (inflation);
2.The banking system occupies a large amount of social manpower, material resources and financial resources, many of which are unnecessary;
3.The issuance of different sovereign currencies by different countries has caused great troubles for cross-border trade, and exchange rate fluctuations and speculation have also caused damage to the world economy.

Bitcoin has emerged to solve these problems.
1. Bitcoin guarantees that its distribution speed and future total amount, no government or institution can noy over issue as its total amount is 21 million;
2. Bitcoin transactions and balance ledgers can be downloaded by anyone, without the need for a large banking system to maintain their operations;
3. Bitcoin has no national boundaries and can flow freely between countries with almost zero cost.

[Ava Duvall]

yes indeed it is. plus everything bitcoin is very convenient and quickly transmits any corner of the world that you can not say about Fiat

Yes, thats one of bitcoins pros that a lot of people value

[sathyamg]

Being a digital currency bitcoin is secure, easy to trasfer anytime and anywhere, any amount of money can be transacted without any hassle of being stolen.
Bank notes on the other hand has logistics issues if the amount is huge, can be lost, have to keep it safe from fire, water, or any element that can destroy the bank note, hard to detect fake bank notes.
To avoid cheating & its matter of trust & it should be transparent  such kind of transaction more useful in Organizations.

[John.Verdon761232]

Bitcoin is more versatile than banknotes and these days, given the development of technology, it will be more convenient to use.