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Author Topic: BTC vs USD - Which one is better?  (Read 10459 times)
Handsome Boy
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July 27, 2019, 08:27:08 PM
 #281

These guys have some interesting stuff going on here https://cryptotradernews.com/cryptocurrency/bitcoin-vs-usd-for-storing-value-purposes/

Today, I would personally pick USD as it can be used world wide and for a variety of purposes. However, if BTC were to stop being JUST a speculative asset I would contemplate making the switch. I like being in control of my cash without having to depend on some greedy bank!

Thoughts?

I agree with you, indeed for now USD is better than Bitcoin, because Bitcoin is not legal so it cannot be used for transactions around the world, but if Bitcoin is legal and can be used as a transaction worldwide (same as USD) then I sure Bitcoin will be better than USD and of course people will switch to using Bitcoin and not using USD anymore, so I hope that in the future Bitcoin will be legal and can be used as transactions around the world, because transactions using Bitcoin is very easy and fast.

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July 27, 2019, 08:43:54 PM
 #282

For the very now the USD dollar holds sway as a universal currency and it will take a little while for this to change and usher in the BTC. One good thing about bitcoin payment is the transaction fee associated with it no matter the quantity to Ben transferred it takes lesser percentage unlike the normal charges associated with banking. The volatile nature of cryptocurrency still give the USD an edge as a stable asset.

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July 27, 2019, 11:34:40 PM
 #283

These guys have some interesting stuff going on here https://cryptotradernews.com/cryptocurrency/bitcoin-vs-usd-for-storing-value-purposes/

Today, I would personally pick USD as it can be used world wide and for a variety of purposes. However, if BTC were to stop being JUST a speculative asset I would contemplate making the switch. I like being in control of my cash without having to depend on some greedy bank!

Thoughts?
Since we are in this industry, we need to praise bitcoin all of the time than any fiat. Anyway, I can say that bitcoin is greater than USD. WHY? Because many people can use bitcoin to buy things and services, but usd can't be a tool to be used inside a country. It has limitations unlike with cryptocurrencies which we can use, wherever we are in globe.

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July 28, 2019, 09:21:46 AM
 #284

These guys have some interesting stuff going on here https://cryptotradernews.com/cryptocurrency/bitcoin-vs-usd-for-storing-value-purposes/

Today, I would personally pick USD as it can be used world wide and for a variety of purposes. However, if BTC were to stop being JUST a speculative asset I would contemplate making the switch. I like being in control of my cash without having to depend on some greedy bank!

Thoughts?

You cannot compare those two, as crypto vs fiat = never same thing.
Can you compare gold vs fiat? Ofc not. So as this too.
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July 28, 2019, 09:34:21 AM
 #285

I think this comparison is not suitable or relatable, Bitcoin and USD are both in a different aspect, both have a different aspect. For me, Bitcoin is the best but if maybe happened that another person would choose USD because of the acceptance. So the comparison should be based on reality, Bitcoin isn't getting accepted the whole around the world but USD did it for many years, that's the main point.
But if you pick out for the future purpose then Bitcoin should be chosen easily by any people who have a little idea about the Blockchain system. So the choice is different.
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July 28, 2019, 11:13:41 AM
 #286

For me, this case is something like into two different matters. Also, there is no need for the USD and BTC, to be compared. As for me, this two have too far from each other. The BTC is a crypto currency while the USD is a national currency. Both have different great aspects and impact to the currency world. At least we could do is think for ourselves what we much preffered, and not compared them.

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July 29, 2019, 03:12:34 AM
 #287

The American federal debt is about to cross the $20 trillion level, despite declining slightly when Trump took over as the president. Now the debt-to-GDP ratio is more than 100% and if this has happened in some other country, it would have triggered an economic meltdown. The USD is surviving because of its status as the world reserve currency. This status enables the American government to sit back idle, while the debt grows to unsustainable levels.

We need to see for how long this situation will continue. If a Democrat candidate wins the POTUS elections in 2020, then we can expect the debt to balloon further. And this will put a lot of pressure on the United States Dollar. 

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July 29, 2019, 03:25:53 AM
 #288

BTC is digital gold and I would take gold over an OVERPRINTED dollar ANYDAY.  So its not really a question in my mind..

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July 29, 2019, 04:11:19 AM
 #289

I think this comparison is not suitable or relatable, Bitcoin and USD are both in a different aspect, both have a different aspect. For me, Bitcoin is the best but if maybe happened that another person would choose USD because of the acceptance. So the comparison should be based on reality, Bitcoin isn't getting accepted the whole around the world but USD did it for many years, that's the main point.
But if you pick out for the future purpose then Bitcoin should be chosen easily by any people who have a little idea about the Blockchain system. So the choice is different.
You are right, it is not appropriate to compare the two, btc and usd. Each is in a different area, legal and not, obviously USD is accepted throughout the world, while BTC is only in certain countries. But on the other hand, Btc has great potential and is very worthy of being an investment, as long as we must accept all risks because the price is very volatile.

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July 29, 2019, 05:56:20 AM
 #290

Sooner or later all the money will become cryptocurrency. First of all, a digital dollar will appear, and then everything else. And perhaps there will be only one world stable cryptocurrency, and the rest will be for other needs. Bitcoin will be an asset like gold.

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July 29, 2019, 07:47:09 AM
 #291

These guys have some interesting stuff going on here https://cryptotradernews.com/cryptocurrency/bitcoin-vs-usd-for-storing-value-purposes/

Today, I would personally pick USD as it can be used world wide and for a variety of purposes. However, if BTC were to stop being JUST a speculative asset I would contemplate making the switch. I like being in control of my cash without having to depend on some greedy bank!

Thoughts?
You’re just being practical because the competition is in actual time but if we will apply this in the future for fairness let’s say when the adoption had already happen for sure that your stand will change and choose Bitcoin instead.

So for today I choose USD over Bitcoin because as what you have stated that’s true and in practical ways

But I am willing to edit this post in future if half of the world acknowledge cryptocurrency already because by that time I am sure bitcoin will dominate even the strongest fiat in the world like Dollar
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July 29, 2019, 01:15:18 PM
 #292

This kind of question dates back 3 years ago and is now back again. In my case, I cannot tell whether bitcoin is better than dollars, or dollars is better than bitcoin. In terms of usefulness, this currencies have its own strength and weaknesses.

Let us look at usd. USD was somehow overproduced by the Federal Reserve. There was no accounting on the real actual number of usd being printed already. But USD is still the backbone of cryptocurrency and bitcoin since it is what we use to buy bitcoin and without it at this point of time bitcoin will have no value.

Bitcoin is very strong since it has no central agency, and its number is very transparent using the blockchain technology. But bitcoin also has its own downward, it is very volatile and is very dependent on internet and electricity. Without internet and electricity and computer gadgets bitcoin becomes useless especially in remote areas.

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July 29, 2019, 01:23:01 PM
 #293

Bitcoin and USD are two different types of money. If we talk about the advantages, then Bitcoin is better than fiat money because of the possibility to have complete confidentiality without the participation of third parties. USD is a world currency and can be used everywhere. Unfortunately, the authorities will never give up on fiat money because they will lose control, so you have to use both. If it were not for the authorities, I would only use crypto money
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July 29, 2019, 06:36:19 PM
 #294

In my opinion, honestly I prefer bitcoin because I can control my money without depending on bank policies. The future and opportunities for bitcoin to continue to grow have also been seen, especially now that bitcoin can bring us profits many times over. This makes me even stronger to choose bitcoin as one of my investments. I am sure that if you invest with bitcoin and have a good playing strategy, you can get substantial profits.

I'm sure that many people will choose BTC on top of the USD because of the many benefits it provides. Despite lacking mainstream acceptance from businesses and merchants worldwide, Bitcoin has been able to remain resilient and censorship-resistant after all these years. It shows us that it'll be here to stay for a long time. Even if it doesn't manage to scale properly in order to be used as a currency for daily transactions, it'll serve well its purpose as a store of value. The biggest benefit of Bitcoin is that it's largely divisible, making it useful for sending minuscule amounts of money. That's not widely possible with the USD, since it's only divisible to two units (making it terrible for sending payments that are less than a penny).

Among several other benefits Bitcoin provides over the USD, we have the ability to transport our money anywhere in a safe fashion. You could easily store your Bitcoin in a very small piece of paper or even a microSD card, with no clutter at all. With physical cash (which is the USD in this case), it's not possible to store thousands of dollars within a small space.

Still though, Bitcoin is missing the most important thing in order to be able to compete against the USD. Without being stable in price, it cannot compete against the USD directly, as it's terrible as digital cash. For that reason alone, many merchants have been hesitant in accepting Bitcoin for daily payments. Other than that, if Bitcoin would've been stable and highly scalable, I'm sure that the USD's existence would've been threatened by now.

Nonetheless, the choice of USD or BTC depends on the individual himself. For some occasions, the USD is necessary in order to transact with most merchants worldwide. But for others, Bitcoin is essential in order to maintain complete control of your money without fear of someone else taking custody of it. Which is why, both currencies might co-exist alongside each other for a very long time. Just my thoughts Grin


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boris2470
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July 31, 2019, 07:57:48 PM
Merited by Abiky (1)
 #295

Bitcoin is a blockchain-based digital currency that provides privacy, security, and transparency. How can the US dollar be better than this?  Fiat money is a tool of the financial system, but they are no better than crypto, it is a piece of paper and no more
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August 01, 2019, 12:29:23 AM
 #296

I think in terms of investment, bitcoin will be my pick because of the high possibility on ROI which might not be replicated by USD

I agree, but remember bitcoin is volatile you can lose your money so quick if the market is down, unlike USD.
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August 01, 2019, 10:54:25 AM
 #297

this is an investment tool vs. fiat. people who don't know bitcoin, of course choose usd to be used. well, that is a clear thing and certainly has been known by many people. personally, I chose bitcoin to be used, but of course in the end I had to change it in the form of fiat or USD to be used. besides that in the business world on the internet, I think bitcoin is still leading in this matter.

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August 01, 2019, 12:16:01 PM
 #298

Bitcoin vs USD is not much of a debate because of the actual nature of their existence and functions in today’s world. While the USD is a national currency and controlled by the government of America, Bitcoin is not governed in any measure by any regulatory body.
Bitcoin is not universally accepted and even banned in many countries. On the other hand, the USD is recognized all over the world and can be used anywhere.
Bitcoin is mostly used to make transactions that cannot be traced and for making transactions for which the bank would charge vast sums of fees. It is more of an investment than a medium of exchange, which gives it an edge over the USD.
Come to look at it; Bitcoin seems to have a better future than it has had in the past few years. Its growing acceptance around the world and its increasing popularity seem to advance its cause, and it soon might become the financial giant it was created to be.
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August 01, 2019, 12:41:15 PM
 #299

This is a hard one for me. I love btc and usd. I love the way it feels having the actual american dollar in my hands. Btc is good for all my underground purchases and i love how it gos up or down like the stock market..I mean alot of people got rich from btc and it allowed me to play poker online but theres nothing greater than opening a suit case full of usd.
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August 01, 2019, 10:52:23 PM
 #300

Bitcoin is a blockchain-based digital currency that provides privacy, security, and transparency. How can the US dollar be better than this?  Fiat money is a tool of the financial system, but they are no better than crypto, it is a piece of paper and no more

You have a point. But, I believe that USD is somewhat better than Bitcoin because of its stability and wide-spread acceptance within the mainstream world. Other than that, Bitcoin beats the USD by a long shot. The time is yet to come, where Bitcoin will improve its Blockchain network in order to process millions of transactions per second at the lowest cost possible. Once this becomes a reality, then the USD at its physical state will be no more. Then, the USA would need to adapt its national currency into a Blockchain of its own in order to keep its pace alongside Bitcoin and other cryptocurrencies worldwide. It's interesting to see what the outcome will be for the USD within the future, as Blockchain technology has proven to be quite resilient and efficient for worldwide payments.

If we were to compare both the USD and BTC in terms of eco-friendliness, the former seems to be a better choice nowadays. Bitcoin seems to consume a lot of energy, making it harmful for the environment at a larger rate than physical cash. Despite this, it has proven to be the most resilient and censorship-resistant payment system in the world. Which is why, there's a possibility that BTC will become used more than the USD itself over time.

Nonetheless, both currencies (BTC and USD) have their respective advantages/disadvantages. This indicates that neither is better, as depending on the person's needs will be the one to choose. Stability is a key feature of the USD, while for BTC it is censorship resistance. In the future, the USD and BTC will part their separate ways as alternative monetary systems for the world to use. Just my opinion Smiley


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