Which is more important bitcoin or fiat?

[coolcoinz]

You need to understand that almost everyone measures the value of bitcoin in dollars!

You need to travel more often. In Europe almost everyone measures the value in EUR.

From this we can conclude that for most people are more important than dollars, not bitcoins... I hope that this will change with time, when the fiat money begins to devalue!

What?  

And people will start to understand that bitcoins are only 21M coins!

Is that good or bad? I hope you understand that 21M@ 200k USD is a lot, but the same number @ 2k USD is not.

Bitcoins are more important because you can't make them, can't print or seize them. They will be here when fiat currencies are long gone. The uestion is what will their value be at that point.

[3meek]

You need to understand that almost everyone measures the value of bitcoin in dollars!

You need to travel more often. In Europe almost everyone measures the value in EUR.

From this we can conclude that for most people are more important than dollars, not bitcoins... I hope that this will change with time, when the fiat money begins to devalue!

What?  

And people will start to understand that bitcoins are only 21M coins!

Is that good or bad? I hope you understand that 21M@ 200k USD is a lot, but the same number @ 2k USD is not.

Bitcoins are more important because you can't make them, can't print or seize them. They will be here when fiat currencies are long gone. The uestion is what will their value be at that point.

The meaning of my message was that all people measure the value of Bitcoin in the fiat, mostly in dollars... If you are a trader, you usually trade in pairs to USD or USDT... I have never seen a single prediction or estimate of BTC value in RUB, EUR, CHF or JPY... Usually it is estimated in USD/T...
Only when you can buy goods for BTC or pay for utilities, then you can talk about the importance of bitcoin in everyday life of ordinary people... In the meantime, people exchange it for fiat and use ordinary money.... For example, in PayPal there will be no function of payment with bitcoin, it will be converted into the desired currency...
This is what I was talking about - people think first of all about the fiat money!

You have correctly noticed about the deflationary model of bitcoins - this is a very important point!

[Xinarae*]

Bitcoin is not a Fiat currency, so its price is not directly related to any country's economy or politics. Bitcoin has its ups and downs but the demand for Bitcoin is higher than Fiat's. The sudden rise in prices was due to the economic crisis in Cyprus. The accumulation of citizens' funds has led to a severe recession and increased interest in making money outside of a traditional bank. Cryptocurrency and bitcoin were one of the ways to reinvest money and prevent further losses. The biggest drawback for Bitcoin buyers and investors but for traders this is a great opportunity to make a quick profit.

[BITCOIN4X]

Meanwhile, I still need both because of regulation. I cant use bitcoin as an official payment system because it is legally prohibited by the government. I can only trade bitcoin as a commodity asset in the market. Fiat is needed to measure my profits and spend it as the official currency.
Bitcoin still need more adoption in various countries as a payment system. To replace fiat globally, I think Bitcoin is still not able to because of many factor. Regulation, knowledge are two thing that continue to influence bitcoin as a legal payment system.

Due to regulation, I have to accept the fact that fiat will still be used as a payment system in many countries for a long time, especially in my country. I don't see any pressing issue at this point that fiat should be replaced by cryptocurrency as soon as possible. I believe people think differently than me and I have to understand that.

[emmybd]

The prime motive behind the consideration of Cryptocurrency (such as Bitcoin) over Fiat Currency is preeminently hidden in the transaction scheme. However, a reliable conclusion will come from the reflection on the amenities and drawbacks of both transaction schemes.

In this 21st Century, in the age of progressive technology, we anticipate everything promptly and cryptocurrency is the resemblance of that anticipation, the “e-wallet” service. First of all, Cryptocurrency transactions are non-refundable as well as no probability of so nagging charge back. In this platform, all the transaction information is being listed for ever since of a disseminated ledger which is known as Block chain. Thenceforth, when we make cash transactions, money deception or bogus papers remains a question that is entirely out of the cryptocurrency transaction protocol. Unlike Fiat currency, the most remarkable benefits of cryptocurrency is that anyone can buy dollar whenever they want and exchange bitcoins at any convenient currency without any hassle and the transaction charges are comparatively inexpensive.

Above all, Cryptocurrency is an epoch-making and reliable means of trading towards a cashless denomination compared to fiat currency.

[coolcoinz]

The meaning of my message was that all people measure the value of Bitcoin in the fiat, mostly in dollars... If you are a trader, you usually trade in pairs to USD or USDT... I have never seen a single prediction or estimate of BTC value in RUB, EUR, CHF or JPY... Usually it is estimated in USD/T...

Just because you don't trade other currency pairs doesn't mean the rest of the world is the same. If you haven't seen other predictions it's because you haven't visited sites where those predictions are posted or had them set to view only USD pairs. You can do that on tradingview. Go there and change the setting to GBP or EUR and you'll see different people with different predictions. The site is set up in the way that people who trade USD pairs don't see predictions made by other currency traders.

[finaleshot2016]

Both of them have a different purposes in this world and decentralize is one of the main key features of cryptocurrency.

People are now considering the use of cryptocurrency due to its features and we can build a lot of business through it.
Since crypto has placed a good role in the market, and both crypto and fiat are definitely good for the increase of the economy.

[bgaisha]

Bitcoin is more important than fiat. This is because, Bitcoin is cheaper and easier to handle and transact.

[KingsGambet19]

I need to bump this so that it can be visible again, Voting still not close,

[Irdina]

I think crypto and fiat are equally important, depending on their individual needs.  in my country fiat is still number one, only a small percentage of people use bitcoin. in fact, many still don't know what bitcoin is, especially in rural areas they don't really know technology so they don't know bitcoin.

[Nhor1011]

Fiat and Bitcoin have pros and cons but despite of that pros and cons for me they are both valuable and we all need both bitcoin and fiat. Bitcoin for investment and fiat for payments for goods and services in our daily needs and transaction. Although bitcoin can also be use as a means of payment but just limited because it was not yet fully accepted anywhere.

[Crptomagma]

Bitcoin or fiat they are both currency and has value, bitcoin can be converted to fiat and vise versa. Bitcoin price rise and fall so do fiat so basically it’s depends on the individual which means he/she would prefer to keep funds. There many online and physical stores around the would that accept bitcoin transactions. Bitcoin and fiat to me is just like a circle of your funds, you can decide which way you want it to be and where it’s should be stored. Bitcoin will always be in your wallet at owners risk and fiat in the bank still not hundred percent secured because I have see banks close and customers loose their savings. So in my opinion bitcoin and fiat are both important to man.

[MWesterweele]

Both of them have a different purposes in this world and decentralize is one of the main key features of cryptocurrency.

People are now considering the use of cryptocurrency due to its features and we can build a lot of business through it.
Since crypto has placed a good role in the market, and both crypto and fiat are definitely good for the increase of the economy.

Fiat and bitcoin were exist in different areas. Both currency for me has its own significance. Bitcoin today was the rising good investment currency that offers a good profit but the only thing that hinder the big break of crypto was the fact that it was a decentralised currency. As of the moment fiat were mainly the most widely used currency all through out the globe which of course each country has their own currency that used inside their country.

[abderrazak belkhir]

I think bitcoin and crypto have many opurtunities and you can make huge profits only by doing some simple thinks (buying and holding for example) and this is what make bitcoin more interesting than fiat
But we must not forget that there is many factors can cause big losses to crypto investors what make the fiat safest

[bitbunnny]

We still live in world where fiat currencies have the most important role in our lives and that will not change for a while.
Cryptocurrencies represent alternative to fiat and that is good and that was needed but we have to bare in mind that on a global level only small number of individuals and businesses is using cryptocurrencies.
I see bright future for cryptocurrency but they will not replace fiat and that is not their role but still s lot of development and progress needs to be done.

[AjithBtc]

We still live in world where fiat currencies have the most important role in our lives and that will not change for a while.
Cryptocurrencies represent alternative to fiat and that is good and that was needed but we have to bare in mind that on a global level only small number of individuals and businesses is using cryptocurrencies.
I see bright future for cryptocurrency but they will not replace fiat and that is not their role but still s lot of development and progress needs to be done.

Initially people are used to the fiat system which is the base for any country's financial infrastructure. The fiat system has a big history for years whereas bitcoin is just young and around eleven years over from its existence. Bitcoin requires time to get the acceptance as fiat. Upon this we can think of bitcoin as an alternate to the fiat and not a replacement until a generation that goes completely digital.

[samputin]

We still live in world where fiat currencies have the most important role in our lives and that will not change for a while.
Cryptocurrencies represent alternative to fiat and that is good and that was needed but we have to bare in mind that on a global level only small number of individuals and businesses is using cryptocurrencies.
I see bright future for cryptocurrency but they will not replace fiat and that is not their role but still s lot of development and progress needs to be done.

Initially people are used to the fiat system which is the base for any country's financial infrastructure. The fiat system has a big history for years whereas bitcoin is just young and around eleven years over from its existence. Bitcoin requires time to get the acceptance as fiat. Upon this we can think of bitcoin as an alternate to the fiat and not a replacement until a generation that goes completely digital.

Exactly! We cannot jump to conclusions that easy that bitcoin is more important than fiat, or fiat is more important than bitcoin. They both serve their own purpose upon their existence.

Well, it could also depend on the person using it. But generally, we cannot simply phase out one just because of the other. Fiat is a physical currency, it can be touched. So it can be used in the physical world with physical transactions. Bitcoin, on the other hand, is a digital currency and can be used online with digital transactions. Unless we're already in a virtual world where everything is done digitally, then maybe we could decide which matters most between the two.

[Ayiranorea]

People are now in need of decentralization, and anonymity. This is possible through bitcoin and cryptocurrencies. The usage of debit/credit cards grew high from the year above 2010. Those were the days of cryptocurrency in its early days. People who aren't aware of the cards started to use it moving from cash usage. In this manner we can expect the growth of bitcoin through its usage. Right now we don't have much of usability. Maybe in the future when more stores and services start using bitcoin people might be in need of bitcoin along with fiat.

[proTECH77]

Fiat money is more important than bitcoin because fiat is the oldest currency in the world which many business men and women are use to, in the are of investment. Very easy to invest compare to bitcoin which is digital currency that require phone or laptop before you can carry out your transaction. There are some countries, which bitcoin is not legalized but they are doing well with their fiat money which is well legalized, in different communities which many people are using to invest to make a good profit.
Uneducated can make use of fiat money to invest and make a good profit from the investment compare to bitcoin where uneducated cannot have access because is a digital currency that request for reading and writing before you can make your transaction successful.

[DoublerHunter]

^ Why people keep comparing the cryptocurrency and the fiat currency? You can't compare them because they had different roles from us. We know the fiat existence and we also know how important cryptocurrency, we can eliminate any of them, instead use them for a different purpose. They are both important in different aspects and they had pros and cons to us. Nevertheless, let us do accept the fact that bitcoin will never replace fiat and bitcoin is always an alternative choice for a payment method.