Why Cryptocurrency is better than fiat currency?

[peter0425]

Indeed I strongly believe that cryptocurrencies are the next evolution of your monetary system. It is just a matter of time. If I'd go more in depth with this topic, my long term vision is bitcoin to become the worldwide mainstream currency and eventually the currency of exchange in our galaxy. Maybe you think I watched too many SF movies, but Mars colonization and human-compatible ecosystem creation is closer than the majority of people would think.

It has been said for many times that bitcoin is the future currency of the world and most of us believes in this because we are starting to do the extraordinary
Look some countries now are having bitcoin as a currency and mode of payments and many merchants all over the world are offering to accept bitcoin as payments.
This all things are enough reason for us to trust and wait until things turns to reality because the beginning is here already

[angrybirdy]

Indeed I strongly believe that cryptocurrencies are the next evolution of your monetary system. It is just a matter of time. If I'd go more in depth with this topic, my long term vision is bitcoin to become the worldwide mainstream currency and eventually the currency of exchange in our galaxy. Maybe you think I watched too many SF movies, but Mars colonization and human-compatible ecosystem creation is closer than the majority of people would think.

It has been said for many times that bitcoin is the future currency of the world and most of us believes in this because we are starting to do the extraordinary
Look some countries now are having bitcoin as a currency and mode of payments and many merchants all over the world are offering to accept bitcoin as payments.
This all things are enough reason for us to trust and wait until things turns to reality because the beginning is here already

But we can't consider cryptocurrency as better than fiat currency as of now, fiat is still best since it is used in any kind of transaction, and in any part of the world without restriction including illegal activities.
Unlike in cryptocurrency, which is still limited especially to most of the countries that are yet to adopt it. It will take at least a decade before the whole world can accept and legalize it.

[Fappanu]

It's simple,

Holding the crypto currency has a huge profit to offer.
Similar to bitcoins, If you bought in 2015 for $ 200 and you sell it now you will have 7,200 $ profit.

In fiat money if you had 200 $ in 2010 and you hold it until now it is still $ 200.

But investing in crypto is a huge risk, so you should carefully choose the coins you think will give you big profit for holding.

[jakoylantern]

It's simple,
Holding the crypto currency has a huge profit to offer.
Similar to bitcoins, If you bought in 2015 for $ 200 and you sell it now you will have 7,200 $ profit.
In fiat money if you had 200 $ in 2010 and you hold it until now it is still $ 200.
But investing in crypto is a huge risk, so you should carefully choose the coins you think will give you big profit for holding.

Yes, investment/profits, transparency, anonymity, transaction, and many more reasons why the cryptocurrency is better than fiat currency. That's the whole point why many ppl get hooked by cryptos, right? The profits that it can give you, and not only the profits. But the transaction that you can do with high security and anonymity. Cryptos is the actual future of currency, especially in this new technological era.

[Pearls Before Swine]

The big reason is that one has a chance to profit immensely by holding crypto rather than cash.  Most banks these days offer interest rates on deposits close to 0%, so it doesn't make sense to keep extra cash around.  Any money that you aren't going to spend should be invested in something, be it stocks, crypto, or what have you.

Another reason is that crypto is more anonymous than fiat, tho obviously not completely anonymous.  But at least you don't have the bank and possibly the gov't watching how you spend your money.  They have a much harder time tracking crypto transactions.

I've said it a zillion times in the past week, now is a great time to get into the crypto market.  Bitcoin isn't going to zero, nor are most altcoins.  Excellent time to buy low in anticipation of selling high.

[TriplexXx]

Indeed I strongly believe that cryptocurrencies are the next evolution of your monetary system. It is just a matter of time. If I'd go more in depth with this topic, my long term vision is bitcoin to become the worldwide mainstream currency and eventually the currency of exchange in our galaxy. Maybe you think I watched too many SF movies, but Mars colonization and human-compatible ecosystem creation is closer than the majority of people would think.

It has been said for many times that bitcoin is the future currency of the world and most of us believes in this because we are starting to do the extraordinary
Look some countries now are having bitcoin as a currency and mode of payments and many merchants all over the world are offering to accept bitcoin as payments.
This all things are enough reason for us to trust and wait until things turns to reality because the beginning is here already

But we can't consider cryptocurrency as better than fiat currency as of now, fiat is still best since it is used in any kind of transaction, and in any part of the world without restriction including illegal activities.
Unlike in cryptocurrency, which is still limited especially to most of the countries that are yet to adopt it. It will take at least a decade before the whole world can accept and legalize it.

The best way to answer that is by saying the cryptocurrency is a peer-to-peer digital currency. The cryptocurrency transactions are super-fast with very low transactions and very secure as well. the cryptocurrency is decentralized, unlike the fiat currency that is issued and controlled by the government.  

[Xxmodded]

First of all cryptocurrency is a non legal distribution of money in which they don't need to pay their taxes in order for them to buy some goods or things while in fiat you need to transfer crypto into a fiat to become a legal currency that has been issued by the government in which the items or the things you need to buy have a equivalent of a taxes. That was one of the many reasons why cryptocurrency is more better than fiat.

One of the million reasons we have. still crypto currency is the best choice rather than fiat. but for now fiat is still helping us to improve our society regulated by government. maybe crypto will help us in future but we still need to balance all of this whether it is good or not. better to achieve success solution than rushing a thing we couldn't expect to happen. 

Cryptocurrency better than fiat currency for using as transaction payment, but when bitcoin or altcoin price have go down many investor and companies do not agree using crypto as currency, they look dislike with bitcoin and altcoin if price still down. Only take moment with bitcoin and altcoin become higher price for currency payment, when price dump they will left bitcoin.

[Eugenar]

There are two primary reasons.

1. No central authority to inflate the supply.
2. No intermediary. Transactions are like cash.

These two characteristics will eventually cause the obsolescence of Fiat currencies.

Very well said, but considering the fact that no system is invulnerable to hacking, can cryptocurrency be the safest currency in the world? In my opinion, there's always a room for improvement and development, if we can achieve the most secured state of crypto, we con transition it to fiat but in a slow process.

[skarais]

Very well said, but considering the fact that no system is invulnerable to hacking, can cryptocurrency be the safest currency in the world? In my opinion, there's always a room for improvement and development, if we can achieve the most secured state of crypto, we con transition it to fiat but in a slow process.

True, there is no system that is truly immune to hacking and therefore the security to make bitcoin a place of storage is still doubted by many people. Everyone here has many ways to secure their bitcoin and of course we also have our own methods. The higher the level of security we have, the better it is to secure these high value bitcoin assets.

[AllMightMinez]

I think we need some revolutionary exchanges like binance and OKEX to accelerate at this stage...

[DreamStage]

The big reason is that one has a chance to profit immensely by holding crypto rather than cash.  Most banks these days offer interest rates on deposits close to 0%, so it doesn't make sense to keep extra cash around.  Any money that you aren't going to spend should be invested in something, be it stocks, crypto, or what have you.

Another reason is that crypto is more anonymous than fiat, tho obviously not completely anonymous.  But at least you don't have the bank and possibly the gov't watching how you spend your money.  They have a much harder time tracking crypto transactions.

I've said it a zillion times in the past week, now is a great time to get into the crypto market.  Bitcoin isn't going to zero, nor are most altcoins.  Excellent time to buy low in anticipation of selling high.

Still Cryptocurrencies are not better than fiat in terms of obtaining profit.
There are multiple ways for you to get it from both currencies, the thing is how you will use them as a more intelligent take.

On one hand you can gamble with fiat on real world Casinos where security is why and you can't cheat out many often or getting out robbed from them.
On Online casinos with fiat or cryptocurrency specially you can be robbed with fake transactions or fake probabily fairs and so on.

For sure crypto is still way better on all other points mentioned.

[luppecuppe]

Because the state wants to get tax. People pay a lot of intermediaries when they buy things. Bitcoin is becoming more and more common. There will be more economy. There will even be an economy where people can get their money directly.

[imutlinda]

Very well said, but considering the fact that no system is invulnerable to hacking, can cryptocurrency be the safest currency in the world? In my opinion, there's always a room for improvement and development, if we can achieve the most secured state of crypto, we con transition it to fiat but in a slow process.

True, there is no system that is truly immune to hacking and therefore the security to make bitcoin a place of storage is still doubted by many people. Everyone here has many ways to secure their bitcoin and of course we also have our own methods. The higher the level of security we have, the better it is to secure these high value bitcoin assets.

but for me the bitcoin system is good enough, and hacking is common in exchanges or individual wallets which certainly experience errors when accessing or theft of data. so I believe that the bitcoin system is good enough but its use is not yet the maximum is the reason bitcoin cannot be used en masse for now as well as the regulations of a country that create other difficulties

[posi]

Because the state wants to get tax. People pay a lot of intermediaries when they buy things. Bitcoin is becoming more and more common. There will be more economy. There will even be an economy where people can get their money directly.

You make a good point and there are numerous advantage why crypto is better than fiat currency but the state wanting to get tax was certainly not one of the reason. Meanwhile, we look back at the event that occur this year led to someone people switching to crypto will say ease of sending transaction and low transaction fees. An example is BTC~ $474,381,000 which was sent with just $377.56.

[Asmonist]

For now I guess I cannot say its better because fiat currency is still currently in use and locally its really the means of exchange. We most likely convert crypto to fiat in order to make use of it in our daily expenses. When talking about future endeavors, definitely its better to earn and save crypto starting now to prepare for the full time usage of crypto all over the world.

[Pinkris128]

For now I guess I cannot say its better because fiat currency is still currently in use and locally its really the means of exchange. We most likely convert crypto to fiat in order to make use of it in our daily expenses. When talking about future endeavors, definitely its better to earn and save crypto starting now to prepare for the full time usage of crypto all over the world.

In my own personal opinion, it's true that fiat currency is the currency that we use for exchange in goods and services, but when it comes to security, encryption, and fast transaction cryptocurrency will still be better than fiat. Also, crypto is decentralized that no one can control it even the government, that is why it is fine to me, even we can't use crypto in the real world.

[hotmom]

Because with the help of cryptocurrencies you can get passive income 

[Artemis3]

I think in this modern age the question of “which currency should I own?” is something a lot of people that I know ask themselves when it comes to purchasing currency. There are a lot of choices to choose from such as US Dollars, Chinese RMB, Japanese Yen and many more, those are mainly fiat currencies.  However, all those currencies stated are all controlled by banks that regulate their value and are heavily affected by financial crashes such as the one in 2008. As a result sometime after the financial crash of 2008, Cryptocurrencies such as Bitcoin and Ethereum were created in order to have a currency that isn’t regulated by the banks and relies on how much trust we put into its value. Here are some reasons why Cryptocurrencies are better than fiat currency.

1. Cryptocurrencies are now becoming more accepted as a means of trade worldwide.
   A few years after the introduction of Cryptocurrencies such as Bitcoin, people around the world are starting to see Cryptocurrencies as a trustworthy means of transaction which means that you can go to most countries which basic Internet infrastructure and do business transactions using your Crypto Wallet whether a digital one or a physical one which means that you don’t need to call your bank in order to make your account accessible to when you go to other countries as Crypto Wallets are accepted anywhere where Cryptocurrency transactions are being made.

2. Cryptocurrencies have top-notch security and cannot be easily fooled
Cryptocurrencies use blockchain technology in order to make sure that there are no inconsistencies when it comes to transactions. If there are any inconsistencies with the transaction, the blockchain will reject the transaction and your money will still be in your Crypto Wallet.

3. Cryptocurrency transactions are secure transactions
As stated earlier, Cryptocurrencies have top-notch security using blockchain technology. They also keep all transactions on record anonymous as the only person who knows their Crypto Wallet Address is yourself and wherever you post your address link to.  You can keep generating new addresses if your previous Address is compromised. 

It is a matter of trust. Whom do you trust? Your government? Your bank? A charismatic millionaire? Code, that is what defines Bitcoin, not the whims of a group of politicians their misguiding economists, or perhaps the board of some conglomerate or a rich man. Bitcoin code is the only one that rules it, and it cannot be easily changed without the acceptance of the vast majority of the owners.

Fact is fiat currency can become worthless overnight, over an executive decision. But not Bitcoin, it cannot be changed like that. You are simply trusting your country or group of countries to always do "the right thing", but wouldn't you feel safer if you removed them completely from the equation? How about money that keeps its value no matter what happens?

Remember when a country gets in trouble, its coin goes down with it. Maybe the usual fiats will always remain "good", or maybe not. Maybe you would do well to invest half in Bitcoin and the other half in fiat.

The financial crash of 2008 is a byproduct of the dominant school of economy, that preaches getting in debt rather than save, and causes money from nowhere "credit expansion" which inevitably lead to these bubbles. As long as the world insists in following those practices, they will keep occurring. A deflationary economy such as the one proposes by the Austrian school, never forms bubbles in the first place.

Slower but sure. Save then you buy, instead of get in debt to buy then you slave.

And yes technically Bitcoin is one of the best forms of virtual currency. Even gold is easier to counterfeit. If we suddenly went back to using actual gold coins, we all wouldn't have the capacity to verify that each coin weights exactly the same, and is exactly made of the right gold. Besides for online trade it would suck, and sending gold physically would be a security nightmare. Its already bad enough with fiat, with wire transfers that can take days or weeks...

I do not agree with your use of the term cryptocurrency. Sorry but no, i cannot say the same about your cited altcoin, especially that one that reversed its blockchain, AND has infinite production. Nope.

[onyek16M]

For now I guess I cannot say its better because fiat currency is still currently in use and locally its really the means of exchange. We most likely convert crypto to fiat in order to make use of it in our daily expenses. When talking about future endeavors, definitely its better to earn and save crypto starting now to prepare for the full time usage of crypto all over the world.

In my own personal opinion, it's true that fiat currency is the currency that we use for exchange in goods and services, but when it comes to security, encryption, and fast transaction cryptocurrency will still be better than fiat. Also, crypto is decentralized that no one can control it even the government, that is why it is fine to me, even we can't use crypto in the real world.

its mean the cryptocurrency and fiat money same good? yeah true, fiat also has useless in real life, when you want to buy something and payment with that
 cryptocurrency use by invesment. when i thinking that cryptocurrency better than fiat maybe many people leave it but now it not happen, people still use fiat its mean cryptocurrency and fiat same good.

[TinaK]

Fiat consumes big amount fees and taxation but cryptocurrency will give the leverage from these issues and then you can handle the cryptocurrencies without any third party intervention but fiat currency is not working it such way.
Banks are there to steal your money in different aspects. Gambling is better than this fiat and banks.