Fiat and cryptocurrency

[sarmrakib]

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.

in other words the two are inseparable, and indeed the fact is that fiat and cryptocurrency go hand in hand with each other. as for the same function and some are different. I think that's fair enough.
real money and digital money (to put it simply).

for me the two must stay together and cannot be allowed to clash.

It could be the same as using .I think the different is Fiat are using as cash and hand to hand on the other hand digital currency are using like same but without being cash .It is much secure than Fiat that's why the world turn into it and the crypto currency are become popular than past .

[southerngentuk]

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.

[Yurkov]

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'm afraid you are very wrong. Cryptocurrencies and fiat currency are completely different and the main difference is that fiats are centralized and therefore controlled by the issuer. Cryptocurrencies, on the other hand, are decentralized, so they are not controlled by a single person.

[kolbalish]

In my confesses, fiat and cryptocurrency is almost same in nature but huge differences in purposes or characteristics. Because fiat is physical money that is monitored by government and its usage is very much habitual for the whole world people. In the other way, crypto or digital currency is online based money that can't be touched and it's value is volatile and it is risky money also. Because the authority can't make it perfect or scam free yet. There are many limitations and lacking of management available in cryptocurrency so if this problem solved in future then it will be better in use for the generation.

[Mauser]

There’s a lot of pros and cons both with fiat money and cryptocurrency, but logically if everything goes well Cryptocurrency should be the best option but since it is still not legal on many countries, many are still force to use fiat money. Only if we have the chance to choose what we want legally, I’ll go for cryptocurrency and I also hope that this market becomes less volatile so it can be more less risky and can be good for small time buyers.

The thing with crypto currency is that in 90% of the time they are superior to the old fiat currency. It would be best for all of us to switch to cryptos and don't use FIAT anymore, however if the country goes into a crisis it might be more difficult. If there are problems with the Internet, electricity or food supply it could happen that merchants prefer real cash the can hold in their hand. Physical money however has on the value the central bank is guaranteeing.

[Casdinyard]

There’s a lot of pros and cons both with fiat money and cryptocurrency, but logically if everything goes well Cryptocurrency should be the best option but since it is still not legal on many countries, many are still force to use fiat money. Only if we have the chance to choose what we want legally, I’ll go for cryptocurrency and I also hope that this market becomes less volatile so it can be more less risky and can be good for small time buyers.

The thing with crypto currency is that in 90% of the time they are superior to the old fiat currency. It would be best for all of us to switch to cryptos and don't use FIAT anymore, however if the country goes into a crisis it might be more difficult. If there are problems with the Internet, electricity or food supply it could happen that merchants prefer real cash the can hold in their hand. Physical money however has on the value the central bank is guaranteeing.

I doubt that cryptocurrencies are having that much of an advantage over fiat currencies knowing the differences each of these currencies possess. In terms of support from different countries and governments, fiat has the advantage as well as a  medium being used in daily transactions. It is also having less volatile market price which makes it not surprising to know that it is more supported since it is not having that much of a risk as a mode of payment. Cryptos on the other hand are also profitable while decentralized, avoiding taxation and promoting faster transactions at the same time.

[CarnagexD]

We humans are more prone to the phrase to see is to believe. We have relied on our eyes for millions of years and that's why it has become our most trusted organ. That being said, there are distinct differences between cryptocurrencies and fiat that may steer the common joe towards fiat, number one would be stability, another is tangibility, these two are the greatest factors in determining which are more valuable between the two for most people.

[AndySt]

There’s a lot of pros and cons both with fiat money and cryptocurrency, but logically if everything goes well Cryptocurrency should be the best option but since it is still not legal on many countries, many are still force to use fiat money. Only if we have the chance to choose what we want legally, I’ll go for cryptocurrency and I also hope that this market becomes less volatile so it can be more less risky and can be good for small time buyers.

The thing with crypto currency is that in 90% of the time they are superior to the old fiat currency. It would be best for all of us to switch to cryptos and don't use FIAT anymore, however if the country goes into a crisis it might be more difficult. If there are problems with the Internet, electricity or food supply it could happen that merchants prefer real cash the can hold in their hand. Physical money however has on the value the central bank is guaranteeing.

Cryptocurrencies can have a lot of advantages in use for citizens, but when it comes to the benefits for the state, not everything already looks so clear. We can say even more that modern cryptocurrencies are not suitable for state use by 90%, just as you put it, from monetary policy to potential dependence on developers. Therefore, it is not for nothing that states are discussing and developing their own cryptocurrencies, and we hope that in an effort to provide their developments with the most-favored-nation regime, states will not embark on the path of strong restrictions or even a total ban on other cryptocurrencies.

[Mituletr]

Fiat currency is a mandatory currency issued by the government.Cryptocurrency is a decentralized currency, but it is defined as a commodity by the government. Cryptocurrency can be purchased on exchanges such as currency exchange.

[Kooerr]

As more and more companies use cryptocurrency instead of traditional financial technology, you will have some cryptocurrencies, each with its own role and function, as well as government funds.

[virasisog]

The government doesn't like crypto for nothing. People switch from fiat to crypto for convenience, financial freedom, decentralization, and so on. The government has no control over crypto, they govern banks that steal time and money from people.  Crypto eliminated third party such as banks who collect fees for every transaction or transfer people do, which may take a few days to complete, not to mention the paper works that have to be done.

[YOSHIE]

so no difference between both because all are currency.

What you say is the same as Gold, where society needs gold and fiat, they are both always connected to each other.

I think Bitcoin is fiat and fiat is Bitcoin, which is different how to use Bitcoin online and physically fiat, you can say the difference is physical and online, but the use is the same, the function is the same, currency.
It's just Bitcoin digital currency and fiat paper currency.

To conclude: I think Bitcoin is like gold which can be traded online to be exchanged for fiat money, meaning: fiat dependence on Bitcoin and Bitcoin dependence on fiat, both of which are equally needed in today's society.

The point: in my opinion Bitcoin cannot be eliminated by the government, although, there are governments that do not admit it, Bitcoin is intangible, physical, real, like gold.

[iv4n]

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,

You got it all wrong... your research is bad! Fiat currencies are not adopted, they are created and governed by governments! There are different cryptocurrencies, they are created on blockchain technology, and they are regulated by math! Try to run another research, maybe you need to change your approach!

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.

These lines are confusing... I see the point, but even here you are wrong about some things. Bitcoin and alts have value, and you can use them to buy many things... sometimes you will need to exchange them for some fiat first, pay some fees... but the bottom line is that you can spend your crypto on anything you want! And now it's a lot easier to that than 5 years ago, adoption is ongoing and will not end anytime soon in my opinion!

It's not my line, but I agree with "crypto is just a next generation of money"... There were things before gold and silver coins, coins then evolved into banknotes around 1661 AD. The first credit card was introduced in 1946. And after 2010 we have crypto! Here is one interesting article about that:
The history of money: from barter to bitcoin - https://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-of-money-from-barter-to-bitcoin.html#:~:text=The%20first%20known%20currency%20was,card%20was%20introduced%20in%201946.

[Haunebu]

You are wrong in so many ways op. I understand that you are a supporter of BTC and other cryptocurrencies in general just like me, but you need to face the reality. FIAT will always be superior when compared to cryptocurrencies for a wide variety of reasons.

The biggest reason is the stability and volatility factor. Other reasons include TX times, TX fees, learning curve etc. Cryptocurrencies were never meant to replace FIAT. Instead, they should be viewed as alternate payment methods.

[GeorgeJohn]

Everyone is reacting bitterly, we have to know that the difference between fiat and cryptocurrency is not much, the only difference is that.

* Fiat currency is been controlled by the government and is centralized platform due to is under government regulations through banking system.

* cryptocurrency is a decentralized currency which is obvious that government don't have affairs to cryptocurrency or neither have any impact for its price regulations because its a digital asset.

So the only aspect I wants us to understand is that nothing fiat currency can purchase and crytocurrency can't purchased, so comparing it in terms of expenses fiat and cryptocurrency are the same, just forget about the centralisation aspect of fiat and decentralisation aspect of crypto. Their all useful in all ramifications.

[jaberwock]

There’s a lot of pros and cons both with fiat money and cryptocurrency, but logically if everything goes well Cryptocurrency should be the best option but since it is still not legal on many countries, many are still force to use fiat money. Only if we have the chance to choose what we want legally, I’ll go for cryptocurrency and I also hope that this market becomes less volatile so it can be more less risky and can be good for small time buyers.

That is the level we are right now, "if everything goes according to plan" for crypto it will definitely be the best one, however there is nothing we can talk about that means we are going to end up with the best possible situation unfortunately, we are talking about crypto here and not everything goes according to plan most of the time, in fact very little thing goes according to plan and that is why I think it is quite difficult to end up with everything going according to plan.

Like for example we are in a great crypto bull run right? price went from 7k at the start of 2020 to as much as 41k but still at around 34k or so levels? That is awesome right? Well what happened? The blockchain got clogged and now we are talking about literally 10+ fee's on 1 hour waiting. Obviously there are many things we need to tweak but if we can do that, we are going to end up a lot better.

[haidil]

Everyone has their own perspective on bitcoin or fiat, and each country has their own perspective. And they judge bitcoin only from the negative side. Of course the government will prefer fiat currency because the country's currency doesn't want to be replaced by crypto. maybe

[Oceat]

Everyone is reacting bitterly, we have to know that the difference between fiat and cryptocurrency is not much, the only difference is that.

* Fiat currency is been controlled by the government and is centralized platform due to is under government regulations through banking system.

* cryptocurrency is a decentralized currency which is obvious that government don't have affairs to cryptocurrency or neither have any impact for its price regulations because its a digital asset.

So the only aspect I wants us to understand is that nothing fiat currency can purchase and crytocurrency can't purchased, so comparing it in terms of expenses fiat and cryptocurrency are the same, just forget about the centralisation aspect of fiat and decentralisation aspect of crypto. Their all useful in all ramifications.

You may be right about that but can fiat become an investment asset like how we fantasize the bull run and bear trend? Yes, cryptocurrency can be used for buying something everywhere the same how we use fiat but it's only possible because there are merchants who accepts cryptocurrency as a means of payment but without them it's a little hard to buy something and not everything can be bought with cryptocurrency though. So their differences are not that so close since almost everyone is not yet familiar with the crypto currency and the adoption of it just begun.

[RealMalatesta]

Everyone is reacting bitterly, we have to know that the difference between fiat and cryptocurrency is not much, the only difference is that.

* Fiat currency is been controlled by the government and is centralized platform due to is under government regulations through banking system.

* cryptocurrency is a decentralized currency which is obvious that government don't have affairs to cryptocurrency or neither have any impact for its price regulations because its a digital asset.

So the only aspect I wants us to understand is that nothing fiat currency can purchase and crytocurrency can't purchased, so comparing it in terms of expenses fiat and cryptocurrency are the same, just forget about the centralisation aspect of fiat and decentralisation aspect of crypto. Their all useful in all ramifications.

There are few other things that could be added into this but this is the main thing. However this is not a small thing neither, we have to realize that this is actually a quite good deal and we should be happy about it. Think about it this way, governments are regular people, they are not another species, which means they have motives and agendas, this causes money to be something very important in the world of politics since they would act depending on whatever makes them richer, and that is why I have to point out that we are in a situation where we have to realize crypto gives us freedom from it.

There are no people controlling it, which means whatever bitcoin is today, will be the same decades later, and that type of power is nowhere to be found in any other currency. This is not just a small difference, this is a whole ideological change that we need.

[kiki889988]

Bitcoin and currency are very different. Although the functions of both can be traded as general equivalents, the value of legal currency is given by the government, while the value of Bitcoin is based on the technology of blockchain , The two are fundamentally different.