Fiat and cryptocurrency

[oHnK]

I think that society must first of all understand that cryptocurrency will give them independence in the first place, unlike fiat money. If over the next 10 years, the capitalization of bitcoin increases by an average of 10 - 20 times, then this will provide an opportunity to get a stable price of bitcoin and then we will be able to see the real advantages of cryptocurrency over fiat funds. It is then that people will begin to actively leave Fiat and switch to Bitcoin, since stable Bitcoin is not only a reliable asset or means of payment, but also a safe storage

There’s nothing special about cryptocurrency that gives people financial independence. Any asset that appreciates 10-20 times has the potential to give someone financial independence, it’s not magic because it’s bitcoin that does it. Bitcoin has risen this far and still doesn’t have a stable value. There’s no reason to think that another 10-20x and it magically will start.

Independence what he wrote maybe have another meaning, but thats quite weird if Bitcoin give us financial independence. We know that Bitcoin can't change you to be rich man, because there is no currency can do it. Even to earn sone money you have to work. So  I dont understand which one can give financial independence if you cant get money from money its share.

[Mahanton]

I think that society must first of all understand that cryptocurrency will give them independence in the first place, unlike fiat money. If over the next 10 years, the capitalization of bitcoin increases by an average of 10 - 20 times, then this will provide an opportunity to get a stable price of bitcoin and then we will be able to see the real advantages of cryptocurrency over fiat funds. It is then that people will begin to actively leave Fiat and switch to Bitcoin, since stable Bitcoin is not only a reliable asset or means of payment, but also a safe storage

There’s nothing special about cryptocurrency that gives people financial independence. Any asset that appreciates 10-20 times has the potential to give someone financial independence, it’s not magic because it’s bitcoin that does it. Bitcoin has risen this far and still doesn’t have a stable value. There’s no reason to think that another 10-20x and it magically will start.

Independence what he wrote maybe have another meaning, but thats quite weird if Bitcoin give us financial independence. We know that Bitcoin can't change you to be rich man, because there is no currency can do it. Even to earn sone money you have to work. So  I dont understand which one can give financial independence if you cant get money from money its share.

Maybe he do mean about independence it the sense that no one controls you out in terms of financial aspects because if we do talk about independence on the sense of capacity or capability then
Bitcoin isnt some internet magic money that mostly noobs do believe on.You do really need to work for it just like into those typical day job on where you do work hard for you to earn money
same concept do happens in crypto and to think that crypto does rely on fiat value too since you do need to convert then it is just basically having that kind of connection after all.
I dont really see the reason on why do try to make things complicated if these both things does have its own usage.

[Rajamuda]

The principle is actually two things that have a good relationship in life, which can help many people in their economic life. It's just that there are countries/governments who still doubt crypto and think too much about its advantages and disadvantages. Well, let's just take the benefits, as long as it helps.. never stop not leaving the things that have been proven to help our lives.

[oHnK]

same concept do happens in crypto and to think that crypto does rely on fiat value too since you do need to convert then it is just basically having that kind of connection after all.
I dont really see the reason on why do try to make things complicated if these both things does have its own usage.

If Fiat or Crypto have same concept, that doesn't mean Crypto can give us independence as he means. We made it complicated, crypto has the same function with fiat. Both of them are just a tool for transaction, or save the value, or even for speculation. If they have their own differences, those are just innovation and characteristic that owned by themselves.

[jinneas]

Fiat and cryptocurrency are different.
Fiat is controlled and managed by the government, which is a transaction currency supported by the government.
Cryptocurrency is a decentralized digital currency that is not managed by the government, and individuals control their own assets. Cryptocurrency can also be used as a store of value asset, and investment in cryptocurrency can make a profit.

[Rasa nanas]

Fiat and cryptocurrencies actually have the same function, namely as a transaction tool. The difference is that fiat is used in the real world while cryptocurrency is used in the digital world. Another difference is that if fiat is issued and regulated by a government, while cryptocurrencies there is no government that regulates it.

[imstillthebest]

they are the same currencies but theres some difference and that would be the legality of one another because one is fully legal everywhere but btc have some issues in terms of legality  .
another difference would be that fiat can be seen only in the real world while btc isnt but it lives digitally . i appreciate that you like to use  btc as a replacement to fiat because not all can do that .

[Shenzou]

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.

You have to take in consideration that fiat is easily controlled by governments and every price change in it is planned and they can easily create more of it whenever they want, and because how bitcoin and cryptocurrency was made to counter that whole concept and bring freedom of choice to the people and that is what government are afraid of and that is why they hate bitcoin and crypto, and that is why we see some countries banning it

[Connor Britton]

Legal tender and cryptocurrency have their respective advantages, both sides can complement each other, legal tender and cryptocurrency I will use together, for example, if the transaction is small, I will choose legal tender, I can use cryptocurrency when I pay to cross the border, and cryptocurrencies are relatively free, with no third party.

[Henrobakkara]

Fiat and cryptocurrencies actually have the same function, namely as a transaction tool. The difference is that fiat is used in the real world while cryptocurrency is used in the digital world. Another difference is that if fiat is issued and regulated by a government, while cryptocurrencies there is no government that regulates it.

Which eventually means that, they are different. just because now we can use cryptocurrencies to pay for some purchases does not mean it is the same with fiat. How many stores in your community do you know that accept cryptos? Is it a legal tender in your country? Can you Hold Fiat and make profits out of them the same way you make profits from HODling Cryptos? I believe we can go on and on if we want but simply Imho, they are not the same.

[suryana]

Fiat and cryptocurrencies actually have the same function, namely as a transaction tool. The difference is that fiat is used in the real world while cryptocurrency is used in the digital world. Another difference is that if fiat is issued and regulated by a government, while cryptocurrencies there is no government that regulates it.

Which eventually means that, they are different. just because now we can use cryptocurrencies to pay for some purchases does not mean it is the same with fiat. How many stores in your community do you know that accept cryptos? Is it a legal tender in your country? Can you Hold Fiat and make profits out of them the same way you make profits from HODling Cryptos? I believe we can go on and on if we want but simply Imho, they are not the same.

That's right.. obviously cryptocurrencies are not fiat money.. they are very far away.. Even though they can be used as a means of payment for buying something, crypto is not fiat money. The value is clearly different. Fiat currency will remain the same in value . While crypto is more volatile.. it could be that we store it the higher the value .. so we can benefit from it.

[Robinson66]

At present, legal currency is closely linked to Bitcoin. Now we pay salaries, buy things with legal currency, and also invest in cryptocurrency with legal currency. If there is no legal currency, our access to cryptocurrency becomes very small (the boss does not use cryptocurrency to pay salaries) then there is no condition to own cryptocurrency.
However, the characteristic of cryptocurrency is that the legal currency does not, and the legal currency also has the advantages that the cryptocurrency does not have. Both can exist together.

[indrakusumaindra]

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 do think cryptocurrency and FIat are definetly different, Not every merchant even accepting bitcoin and i do think crypto is so volatile and more like asset of investments rather than currency. Its true the technology behind cryptocurrency is so magnificent but i do think a lot crypto are not good for purchasing, i do think soon stable coin from central bank would help the transaction but will people use it? cause goverments will be able to trace all your transaction.

[Dragonfund]

Both are need to all ages of people but for idle money i go for crypto-currencies because it will go extra benefits to mine but fiat is almost fixed nothing changes are happened so if you take risk you will get extra benefits from crypto-currencies.

I have never have thought making deposits on my bank account a while now since I have almost all my coin bought before the Government disallow the deposit and withdrawal through banks, now I wonder how gullible I will be to live my iddle money to banks with zero interest rate.
I will choose over crypto everyday in year and that's how the cycle will continue until perhaps we will have a stable coin adobt by Central banks and bitcoin Wil no longer be a threat to the governments.

[AndySt]

Both are need to all ages of people but for idle money i go for crypto-currencies because it will go extra benefits to mine but fiat is almost fixed nothing changes are happened so if you take risk you will get extra benefits from crypto-currencies.

I have never have thought making deposits on my bank account a while now since I have almost all my coin bought before the Government disallow the deposit and withdrawal through banks, now I wonder how gullible I will be to live my iddle money to banks with zero interest rate.
I will choose over crypto everyday in year and that's how the cycle will continue until perhaps we will have a stable coin adobt by Central banks and bitcoin Wil no longer be a threat to the governments.

If the government of the state resorts to such measures, then there are good reasons for this, because believe me, no one in their right mind will just do such a thing and undermine their own banking system and, accordingly, trust in it. Another question is that it is simply not necessary to bring the matter to such situations and then questions arise about the correctness of the previous actions of the agency and its competence. Unfortunately, the current financial system in many countries is unstable and leads to high inflation in some countries and negative interest rates in other countries, and both are abnormal phenomena and investments in bitcoin may well smooth out these unpleasant features of the modern economy, but still there are also pitfalls and you should not consider bitcoin a panacea for everything.

[B-Bit]

Although the legal currency fluctuates, the fluctuation of domestic legal currency is invisible. It is not possible to buy a house today for tens of thousands of dollars, and you can buy a house for a few thousand dollars tomorrow.
Cryptocurrency is relatively free. Purchases and transfers are anonymous, and privacy is well protected.
But now the two are inseparable. You need fiat currency to exchange for cryptocurrency. When you need funds in your daily life, you can exchange cryptocurrency for legal tender.
So the two are not comparable. They are all payment methods. You can choose your preferred payment method for payment.

[Jessie0830]

According to Terry, cryptocurrency is a solution to resist inflation, and defi is a superior financial system to avoid sovereign risk.Read More：https://medium.com/coinmonks/on-the-sustainability-of-decentralized-finance-d9aa82dd2fcb

[macson]

Fiat and cryptocurrency are different.
Fiat is controlled and managed by the government, which is a transaction currency supported by the government.
Cryptocurrency is a decentralized digital currency that is not managed by the government, and individuals control their own assets. Cryptocurrency can also be used as a store of value asset, and investment in cryptocurrency can make a profit.

from the use, both are the same but from the control, it is much different.  cryptocurrencies are controlled by people, while fiat is controlled by the government.  those who use cryptocurrencies are completely free with their assets and can send funds anywhere without any hassle.

[Lordshiva]

they are the same currencies but theres some difference and that would be the legality of one another because one is fully legal everywhere but btc have some issues in terms of legality  .
another difference would be that fiat can be seen only in the real world while btc isnt but it lives digitally . i appreciate that you like to use  btc as a replacement to fiat because not all can do that .

Well these are totally different from each other not some there are many differences between them. apart from the differences that you have mentioned both have their own advantages and disadvantages.
Being decentralised gives bitcoin the advantage but due to some scams there are some disadvantages as well.