Fiat and cryptocurrency

[nicecrypto]

Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country, so from my research I find out that government just disliked cryptocurrency for nothing,
So differentiating fiat from bitcoin is valueless because irrespective the importance and massive adoption of fiat currency from  its existence before cryptocurrency, it's obvious that fiat is money and bitcoin is money, their functions and contribution in society never depart from each other, so bitcoin now is the shortest way of transactions across the world without much process or procedures, using bitcoin everything buyable is easier to purchase without stress, so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.

I don't believe Fiat and cryptocurrency are the same. Yes, they might be performing the same functions and today there might be some form of transactions where crypto is been accepted as a means of payment but that is some individual organization or businesses which doesn't stand as a total representation of the Country. You must also understand the difference in value fluctuation or the volatility in cryptocurrency price which is not the same as fiat. Hodling your crypto at any given time even the same amount but you realize the monetary value fluctuates which makes it difficult to have a steady value except for stable coins which is almost stable because even that, you still notice a fractional variation in price.   

[Mauser]

I beg to differ in the sense of them being them same, Fiat is only backed by the government of a country because it serves also as a national symbol. Cryptocurrency is absolutely free from third party involvement in a transaction, it has intrinsic value which the fiat doesn't have. The speed of transaction with crypto is even enough for everyone to be able to different between the two commodities.

The people who need to be educated about cryptocurrencies extensively are the children growing up, the old people are hellbent on terminating the technology which is a pros in the whole adoption of crypto. Because the government doesn't support the idea of crypto it doesn't make it any less of money. It is not accessible by everyone because of the lack of knowledge of it.

This would be the best approach to crypto currencies. If we can educate all the younger generations about the positive effects of crypto currencies than we would change the world in the long run. Also it is much easier to educate younger people since they have a better understanding of PCs and the Internet. When I look at my grandparents it seems very hard to teach them the concept of cryptos.

[Rruchi man]

..so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.

As much as they can both considered as currency, there are some things you can't purchase with btc. Not because btc doesn't have a good value for it but because the value of the thing needed to be purchased, might just be too low or the merchant prefers fiat. Imagine buying a kilo of chicken from a merchant and wanting to pay an impatient seller with btc. Such situations are quick transactions and fiat is usually a preferred choice.

[FanEagle]

I beg to differ in the sense of them being them same, Fiat is only backed by the government of a country because it serves also as a national symbol. Cryptocurrency is absolutely free from third party involvement in a transaction, it has intrinsic value which the fiat doesn't have. The speed of transaction with crypto is even enough for everyone to be able to different between the two commodities.

The people who need to be educated about cryptocurrencies extensively are the children growing up, the old people are hellbent on terminating the technology which is a pros in the whole adoption of crypto. Because the government doesn't support the idea of crypto it doesn't make it any less of money. It is not accessible by everyone because of the lack of knowledge of it.

There was a great saying that says "any technology that came out before you were born is natural order of things, anything that comes out until you are 20-25 years old is career opportunity, anything that comes out after you are 50 is against the natural order of things", which shows the approach of people.

Of course there are people who are interested in crypto and also 50+ years old, but if you ask all the people who own crypto how old they are, I am 100% sure that the main number will be around 20-40 years old, because they are both old enough to have money to put into crypto thanks to their jobs, but also they would be young enough to understand how it works as well.

Nobody could say that next generations will be very much into crypto as well because maybe something much better will come out, I mean nobody expected bitcoin too but it was one day created and here we are, but if nothing better comes out I am sure bitcoin will keep growing and used by more and more people over the years.

[BITCOIN4X]

Nobody could say that next generations will be very much into crypto as well because maybe something much better will come out,

Of course, we don't have a crystal ball and we can't predict the future of bitcoin. There is always the potential for good and bad. But I believe that bitcoin will grow and develop.

In my opinion, Bitcoin will be an alternative currency for communities or users to pay for, buy, or make online transaction among other users. But regulation still prevent bitcoin and its adoption.

[wxxyrqa]

Nobody could say that next generations will be very much into crypto as well because maybe something much better will come out,

Of course, we don't have a crystal ball and we can't predict the future of bitcoin. There is always the potential for good and bad. But I believe that bitcoin will grow and develop.

In my opinion, Bitcoin will be an alternative currency for communities or users to pay for, buy, or make online transaction among other users. But regulation still prevent bitcoin and its adoption.

This will be one of the biggest challenges facing Bitcoin adoption. In my opinion, the massive use of Bitcoin as a means of payment in the daily life of every person will be available Over time, especially when the generation changes. There is a lot for society to learn before they start using cryptocurrencies in everyday life, and this is not only how to acquire and how to use, but also to safely preserve their cryptocurrency assets.

[Janation]

I am also starting to change the way I use my money, not using cash but instead looking for cryptocurrencies. But this is still limited as it is not of much support in my current life either. Maybe in the time to come when the policy of using cryptocurrency is easier, I believe we will know anti-cash.

But let's be honest, we can't just be anti-cash because we use cryptocurrency.

I know some of us really hate cash or the system behind it but we can't just remove it in this world. Bitcoin will still be Bitcoin, the most popular and most expensive cryptocurrency in this market. IN the future, the higher the price it will have, the more popular it will be and I think that would just be another method of payment in the future, more people will use it and we will not be having a hard time using it.

It is completely impossible to remove fiat currencies because governments can force you to accept them, even if in the future we see a massive crash in fiat currencies to the point that no one trusts in them eventually governments are going to reintroduce those currencies and force people to accept them, and at that point what option businesses are going to have except to comply? However I really expect that as time passes bitcoin really becomes a parallel system that we can use alongside fiat currencies.

That would be the case.

I can see Bitcoin being used in the future but I just hope that it will not be getting at the bad side of the government. If they think that Bitcoin is getting in their way, they would just make laws or create protocols about these cryptocurrencies. They will never be able to stop it but they will be creating limits for people to use it.

[FlightyPouch]

There is a huge difference between fiat and crypto currencies. Not just because the one is decentralized and digital while the other one is centralized. There are a lot of people that don't use crypto because of the fact that they are not used to these kinds of modes of payment and some even think that they are just a scam. 

We need to differentiate the two so we can tell them the advantages of using them. Although the problem arises as not all of the countries are allowing their citizens to use it. Even some of them accept it, they have a limited way to use itl.

[vintages]

Crypto and fiat are not the same. Fiat (especially dollars) is something like a stable coin for crypto. Fiat will never give you 1000% of profit but BTC can bring you such grains. BTC is still illegal in most of the countries so you won’t have an opportunity to buy goods using it, but you can do this with fiat money.

I think the guy is talking about purchasing power.
Like he believes that the same way people use fiat currency, it should be the same as Bitcoin.
As in whatever à person wants to buy, using Bitcoin to purchase think is possible... That is, using Bitcoin as a real money.

[Shasha80]

I agree that both fiat and cryptocurrency are the same, they both have their advantages and disadvantages. So it is better if fiat and cryptocurrency
should complement each other and not drop each other. Because for now I think we need both of them. Because it is better if fiat and cryptocurrency
can go hand in hand. But the problem is the government is too afraid that Bitcoin can replace fiat, even though the reality is that currently not all
locations can use Bitcoin to make financial transactions. So the government should be able to accept Bitcoin as an alternative payment option.

[jaberwock]

we don't have a crystal ball and we can't predict the future of bitcoin. There is always the potential for good and bad. But I believe that bitcoin will grow and develop.

Also the best we can do is to get into what's best right now. I mean yeah there might be things 10x better than Bitcoins later but right now they are not available so the best one can do is to get into Bitcoins and that is what we are doing. It is like when the first time houses were made people would say - no better houses will be made in future so lets not live right now, this just doesn't make sense.

In my opinion, Bitcoin will be an alternative currency for communities or users to pay for, buy, or make online transaction among other users. But regulation still prevent bitcoin and its adoption.

As much I love Bitcoin, I feel there will be a complete shift of fiat towards blockchain technology and countries will issue their own crypto currencies which would mean the use of Bitcoins would be limited, one can imagine like USDT being the official American coin, something like that.

[Wipeout2097]

Basically can characterize Fiat cash and cryptocurrency that are different.Fiat can utilize for crisis and crypto isn't for crisis due to a few reasons like legalization and selection. Compared with cryptocurrency, it is indeed more invaluable. It is as it were in a shorter period of time. But you disregard that the legitimate money is overseen and controlled by the government. Cash isn't great. This alone decides that cryptocurrency cannot supplant legitimate delicate within the brief term but the fiture of crypto is secure and shinning

[Sebas.tian]

Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country.

Fiat and cryptocurrency can never be the same. Fiat is a centralized currency, manage and control by the government of the country while cryptocurrency is a decentralized currency which does not involve third party.
During the pandemic, fiat currency decreased at a point the government where confused with their currency that was decreasing in the process of the lockdown. bitcoin which the pandemic could not stop not to pump during the lockdown beginning to dominate to show that covid-19 can not collapse digital currency.

[DrBeer]

The headline contains a wrong idea, and then the idea is based on this mistake. "Fiat and cryptocurrency are one and the same" - NO! This is not the case at the moment. First, study what the financial model of the state is, and then, at your leisure, impose on the ideology of a decentralized, uncontrollable, mostly already issued "currency" and you will immediately understand what the fallacy of such a statement is. Let me explain in a simplified way - if fiat is conditionally secured obligations of the state, then cryptocurrency, with all due respect to it as a technology and ideology, is still a set of bytes, the management of which lies outside the limits of acceptable financial logic ... is the legal tender, or store of value, where regulatory laws operate. As if you did not want something else. But this is the reality.
And about the problems associated with the use of cryptocurrency as a means of payment - you can talk for a very long time. I, personally, consider it an asset, digital, with all the consequences

[uneng]

Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country.

Fiat and cryptocurrency can never be the same. Fiat is a centralized currency, manage and control by the government of the country while cryptocurrency is a decentralized currency which does not involve third party.

That is true. But I think he just wanted to mean in a simplistic way fiat and cryptocurrency have the same finality, that is to make us able to acquire products and services through negociations in our societies. For that reason people who are against crypto currency should be more open minded about it, especially authorities who use their power to create obstacles difficulting crypto usage or even trying to ban it.

During the pandemic, fiat currency decreased at a point the government where confused with their currency that was decreasing in the process of the lockdown. bitcoin which the pandemic could not stop not to pump during the lockdown beginning to dominate to show that covid-19 can not collapse digital currency.

Bitcoin showed impressive results during the pandemic, while fiat went through the opposite way, what turned many economists and politicians against bitcoin in third world countries which are the most affected by the fiat devaluation. Sadly they see only the half empty glass and not the benefits bitcoin brought to many people during the pandemic.

[South Park]

It is completely impossible to remove fiat currencies because governments can force you to accept them, even if in the future we see a massive crash in fiat currencies to the point that no one trusts in them eventually governments are going to reintroduce those currencies and force people to accept them, and at that point what option businesses are going to have except to comply? However I really expect that as time passes bitcoin really becomes a parallel system that we can use alongside fiat currencies.

That would be the case.

I can see Bitcoin being used in the future but I just hope that it will not be getting at the bad side of the government. If they think that Bitcoin is getting in their way, they would just make laws or create protocols about these cryptocurrencies. They will never be able to stop it but they will be creating limits for people to use it.

That is without a doubt a given, regulations are coming and the stronger this market becomes then regulations will become even harsher, but if we see an economic crisis then be prepared because I expect outright bans for cryptocurrencies, this is nothing new, when a government gets in trouble they suspend any kind of legal use of any other currencies in their territory, this has happened many times to the dollar for example, but when things get so bad most people just ignore the law as they are forced to choose between obeying the law or having something to eat, so we can expect a similar outcome for bitcoin if that scenario comes to happen.

[verita1]

I agree that bitcoin proved that it could succeed during the pandemic. Not only that, it also drew attention to large investors that it is ready for the future. We have all realized that traditional banking systems are obsolete and that governments print money causing more problems than solutions.
This is how bitcoin convinced it to be the best asset to invest in.
I remain optimistic innovation will come soon now that our world is more digital.

[Noctis Connor]

I agree that bitcoin proved that it could succeed during the pandemic. Not only that, it also drew attention to large investors that it is ready for the future. We have all realized that traditional banking systems are obsolete and that governments print money causing more problems than solutions.
This is how bitcoin convinced it to be the best asset to invest in.
I remain optimistic innovation will come soon now that our world is more digital.

It's true bitcoin proved it self in this kind of situation since pandemic started and when the times of bull run and never stop most of people are choosing bitcoin over fiat currency since there are vaccine already and people needs to get vaccinated that's the time a country needs to recover from it's economy and it's fiat currency rather than bitcoin as you can see the market cup rises into 1 trillion this time and many of the companies are investing there asset or sales into bitcoin this could be an eye opener for those who really wants to start with bitcoin.

[charlesmichel1]

What do fiat and cryptocurrency have in common? Both of them are forms of money, but they have completely different natures. You can't prefer one to another because we are still far away from the mass adoption.

[menoiazei]

Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country, so from my research I find out that government just disliked cryptocurrency for nothing,
So differentiating fiat from bitcoin is valueless because irrespective the importance and massive adoption of fiat currency from  its existence before cryptocurrency, it's obvious that fiat is money and bitcoin is money, their functions and contribution in society never depart from each other, so bitcoin now is the shortest way of transactions across the world without much process or procedures, using bitcoin everything buyable is easier to purchase without stress, so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.

  Only thing they have in common is that they both currencies

fiat is controlled by central banks crypto is controlled decentralised from community
fiat gets inflated and depreciates because of inflation while crypto has limited supply and price goes up the more people use it

governments disliked crypto currencies because they cannot control it from their central banks but its obvious is the only way forward for currency
and thats why they will also start to adapt and to adopt it.

soon there will be no fiat because crypto will replace fiat