Fiat and cryptocurrency

[Arkann]

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.

The fact is that cryptocurrencies first of all become a valuable asset for investment and this is what attracts public attention to it. Undoubtedly, a lot of time will pass when cryptocurrency will be massively used in everyday life, but this requires a really good infrastructure to enable the use of cryptocurrency by society.

[TinaK]

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.

The fact is that cryptocurrencies first of all become a valuable asset for investment and this is what attracts public attention to it. Undoubtedly, a lot of time will pass when cryptocurrency will be massively used in everyday life, but this requires a really good infrastructure to enable the use of cryptocurrency by society.

Asset is always save for long term relationship and at the same time day to day life style is little different from current economy. I think once it will be globalized in the world we are purely take a action in common society. Fiat currency is completely control by government so it is hard to jump at peak and crypto is little different from fiat so we make good noise on further growth of cryptocurrency.

[BITCOIN4X]

So far, I know that cryptocurrency was first created like this bitcoin was not considered good and at that time the price was still very cheap, in contrast to now the price is too high, so when trading in conditions like this you have to be careful.

Many of the trader ignore the innovation offered by bitcoin so that these people only use bitcoin as a tool for profit. Bitcoin is designed to provide users with an easy and secure payment network. These innovation can slowly fade away when people are only interested in their high selling price.
This is different from what was previously expected with bitcoin. If people still want bitcoin to dominate the world in term of currency, then that innovation shouldn't be ignored. Global adoption can continue to be considered even for countries that have not legalized it as a legal currency.

[Dragonfund]

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.

The adoption is here my friend. You can't say bitcoin current price is far from adoption. The entire market cap has doubled in the space of short time. This is the most frenzy bull run inauev I have experienced and I never see it coming otherwise I would have come prepared from last year.

Looking at comparisons of fait and crypto, they are both can be exchange of value but the other is a tool as hedge against inflation but saying fiat is useless is completely rubbish talk in my opinion. If fiat is a total waste why do we see more traders running into stable coins after having large gains. Fiat's is very essential especially when one need to liquidate holdings.

[South Park]

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.

People do not realize this but bitcoin passed a very important test with the pandemic, before it we had the theory that bitcoin will behave as a store of value and that people will want to get it no matter what, but at the end it was just a theory, this is the first important global crisis that bitcoin had to face and despite the drop in the price that we saw at the beginning of the pandemic the results are very favourable, now there is no doubt that in the case the fiat system crashes then bitcoin will be there to protect us, and this has only increased its popularity among institutional investors and the general public.

[menoiazei]

Cryptocurrency is a revolt against fiat currency and banking institutions! Cryptocurrency is the revolution.

It's really not though. It's backed by nothing

Same goes for fiat too though,, good thing with crypto is at least you know how much of it is in circulation

[ven7net]

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 believe that fiat money and cryptocurrencies are not the same thing. You say that BTC is money, then according to money BTC should be used to pay for goods and services all over the world, but this is not. I would call BTC a new asset for saving and earning. As for money, there will probably be new digital money in the future, and each state will have its own. You must understand that no state will ever allow anyone to create their own money, and there is logic in this. Therefore, cryptocurrencies are probably some kind of experiment with an as yet unknown purpose and task. But no matter how it was, cryptocurrencies have already made their contribution to our lives and it will probably continue.

[Wawa2013]

Even though cryptocurrencies have almost the same functions as fiat, they are still different. Therefore, many people prefer to use cryptocurrency
as an asset, because in my opinion cryptocurrency is more similar to Gold. And also because the price of crypto is very volatile, it is very difficult
to make crypto a payment like Fiat. Moreover, many countries prohibit using crypto as payment, making crypto as difficult to use as fiat.

[DrBeer]

Even though cryptocurrencies have almost the same functions as fiat, they are still different. Therefore, many people prefer to use cryptocurrency
as an asset, because in my opinion cryptocurrency is more similar to Gold. And also because the price of crypto is very volatile, it is very difficult
to make crypto a payment like Fiat. Moreover, many countries prohibit using crypto as payment, making crypto as difficult to use as fiat.

I will express my opinion. An ordinary layman who needs to fix some savings (for example, a "financial cushion"), and who has a normally working mindset, with a probability close to 100%, will choose fiat currencies dollars, euros, yen, etc. Why? Yes, everything is extremely simple:
- no difficulties with their use so that this does not happen. I took it out of my wallet, paid it, that's it!
- no difficulties with storage and access.
But crypt is, first of all, RISKS and FEATURES. The time is not far off when the cryptocurrency market will again be influenced by a bearish trend. And for those ordinary people who do not understand how the cryptocurrency market works, who yesterday bought 55,000 dollars for 1 BTC, see today the price of 10,000-20,000 for 1 bitcoin, they will rush off the roof without experiencing such losses! Their "cunning speculations" will fail. The saddest thing is that even after seeing the market fall, they will go into hysterics, trying to withdraw from the wallet to the exchange and sell. This will take them a long time, during which they will see the price DROP in the market. In a word, crypt is not yet for mass use and is definitely not a way of saving for ordinary people.

[South Park]

Cryptocurrency is a revolt against fiat currency and banking institutions! Cryptocurrency is the revolution.

It's really not though. It's backed by nothing

Same goes for fiat too though,, good thing with crypto is at least you know how much of it is in circulation

Which is why it is so valuable, governments can print all the fiat they want, but even if this is not true for gold we do not know how much has yet be mined, but in the case of bitcoin not only we know that number we have a very precise knowledge of the rate at which this will happen and how long it will take the get there, this makes bitcoin the perfect store of value, and I think people are realizing this is the case which is why the popularity of bitcoin increased so much during 2020.

[angrynerd88]

We allknow Fiat and cryptocurrency is portion of the advertise some time recently I fair know around the fiat money and the stock trade upon detonating I find the utilize and benefits of the cryptocurrency and until presently I likely learned around this coin and particularly the bitcoin I'm not saying I know everything fair having information. Cryptocurrency and fiat cash includes a distinctive viewpoint, reason, benefits and more which individuals would like to it depends on you how does it work and how to utilize it.

[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.

Even if we see them as performing the same function, they are not totally the same. During your daily transactions or maybe even in the past days, I believe you most have traded your Bitcoin or other crypto for any of the stable coins which by the way is pegged to Fiat currency like the USD? Bitcoin might have provided us the power to seamlessly transact across countries and continents faster but it's volatity is still an issue when it come to comparison with Fiat.

[just_Alice]

Are they the same though? You're comparing fiat and crypto just in terms of transactions, purchasing stuff, but crypto offers so much more than that. It's not just about advantageous fees and speed.
If cryptocurrency was just a form of money, but with the difference that it's not physical and faster - it wouldn't work. You'd have to fix the price, implement taxes, someone would have to control it because fiat can't survive without centralized control. That would probably lead to inflation.
Cryptocurrencies, on the other hand, are meant to be decentralized, which allows more freedom and less corruption, more control over your assets. Fiat can't offer that. 

[TribalBob]

Fiat and cryptocurrency are the same
It's not the same for me, because bitcoin is virtual money and not real, it's just that you can buy certain things/goods
But fiat money can be bought for anything, not only needs but being able to buy bitcoin and bitcoin cannot buy fiat money

many and almost all governments dislike cryptocurrency for no reason, of course, anything that is decentralized goes against the government's intention to control the population in general.

[GeorgeJohn]

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.

Even if we see them as performing the same function, they are not totally the same. During your daily transactions or maybe even in the past days, I believe you most have traded your Bitcoin or other crypto for any of the stable coins which by the way is pegged to Fiat currency like the USD? Bitcoin might have provided us the power to seamlessly transact across countries and continents faster but it's volatity is still an issue when it come to comparison with Fiat.

Obviously them can never be the same but the similarities is there, because we use fiat currency to purchase pizza and we also use cryptocurrency to purchase pizza, which is documented in forum that somebody purchased pizza with crypto when Bitcoin did not dominate like as it's currently, so since this analysis happened previously, so while can't us accept the fact that btc and fiat are correlated the only difference is the regulations.

[AndySt]

Obviously them can never be the same but the similarities is there, because we use fiat currency to purchase pizza and we also use cryptocurrency to purchase pizza, which is documented in forum that somebody purchased pizza with crypto when Bitcoin did not dominate like as it's currently, so since this analysis happened previously, so while can't us accept the fact that btc and fiat are correlated the only difference is the regulations.

It's not just about the rules. It also lies in the principles of operation and areas of application. Under the current systems of public administration, which operate in all parts of the world, fiat currencies act as the basis on which the functioning of the economic system of any state is built, and not just payment for goods and services, and there is no escape from this.

[Mulann2]

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.

Traditional banks are obsolete? I bet you did your transactions in getting into crypto trading from the Bank and I want to also believe up till now you are still using this same traditional banking system and that you have not 100% have all your assets in crypto. Look we are all for cryptocurrency and i just hope some day they would have been able to work side by side and not one trying to kill the other even though we think some big institutions are getting into crypto, I strongly believe it is because they have come to see the PROFITS they too stand to make from it and besides, lets not believe that the Governments will just allow that to happen.

My 2 sats 

[GeorgeJohn]

Obviously them can never be the same but the similarities is there, because we use fiat currency to purchase pizza and we also use cryptocurrency to purchase pizza, which is documented in forum that somebody purchased pizza with crypto when Bitcoin did not dominate like as it's currently, so since this analysis happened previously, so while can't us accept the fact that btc and fiat are correlated the only difference is the regulations.

It's not just about the rules. It also lies in the principles of operation and areas of application. Under the current systems of public administration, which operate in all parts of the world, fiat currencies act as the basis on which the functioning of the economic system of any state is built, and not just payment for goods and services, and there is no escape from this.

Ok, now I comprehend your area's of concentration but from your comments here, I'm putting it generally while we think cryptocurrency is differ from fiat currency, except it's regulation which involves decentralization and centralisation, looking towards it critically it's clear that they have the same functions.

[illete]

It willexperienced critical situation  confronting Bitcoin appropriation. In my supposition, the enormous utilize of Bitcoin as a implies of installment within the standard of living of every person will be accessible Over time, especially when the era changes. There's a lot for society to memorize some time recently they begin utilizing cryptocurrencies in lifestyle , and this is often not as it were how to obtain and how to utilize, but moreover to securely protect their cryptocurrency resources.

[Twentyonepaylots]

In first-view, the hate that some governments have for bitcoin and cryptocurrencies in general may not be logical or reasonable, but if you're to track these particular governments' ties with banking entities, you'll start to see a pattern. Banks generally control fiat, and adopting a new form of currency means that their cash will not be worth anything anymore, so basically they are doing their best to downplay crypto in such a way that people all around the world will hate it, because it's "illegal" or bullcrap like that, but they are wrong.