Is Bitcoin better than Fiat?

[rosebrand]

Well there both have their differences and usefulness, it's certain that we can't buy most of our daily needs using bitcoin why? Because not every one accepts bitcoin as payment instead people see bitcoin as an asset which will yield profit if it's been invested on tho bitcoin solves some problems which humans are having with fiat currency and banking systems, using bitcoin it saves us the stress of always going to bank and also gives us full control of our money, there are actually much more problems we have with fiat which bitcoin can actually solve but at same time we really need the fiat currency. So presently now there is no point comparing the two because making transactions we use the both.

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[bL4nkcode]

Better on some aspects and not as a whole use of a currency and store of value.

Fiat is still better on daily use IRL, offline, micro transactions, and etc.

While bitcoin is better with online transactions, sending huge amount of money with lowest fees, investment short or long term, better than what bank offers.

[romero121]

Better on some aspects and not as a whole use of a currency and store of value.

Fiat is still better on daily use IRL, offline, micro transactions, and etc.

While bitcoin is better with online transactions, sending huge amount of money with lowest fees, investment short or long term, better than what bank offers.

Agreed, the Major difference gives fiat and Bitcoin better than the other. Fiat is much into offline usage, and people are much used to it. This means fiat is much user friendly.

With bitcoin, it is a large volume transaction support system. Without much complications Bitcoin transactions can be done, whereas the same requires different procedures to be followed when done through banks. Another good with bitcoin is its growth, we can just keep hold of bitcoin. It serves as an investment which isn't possible with fiat.

[Lordhermes]

We all know bitcoin is the modernize and civilised monetary system, it shouldn't be a big threat to the government for forfeiting their usual commission on bank transfer taxes and all of those shit, Bitcoin is far more better than fiat in every way, easy-to-use, and much more transparent. Definitely, bitcoin is a new way of showing the fraudulent behavior of government that's why most of the governmental bodies never approve the usage in her country.

[MinoRaiola]

The algorithm used to generate btc ensures that a maximum of 21 million of these virtual coins can be produced. However, this amount will only be reached around the year + 2130-2140. Currently the network will generate 6.25 new bitcoins in about ten minutes and there will be a limit for sure. Not at Fiat ... new money is always being printed. For me that is the main reason.

[Ryker1]

^[snip]
What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance

Well, for me there is no comparison between both of them because they had pros and cons to us.
Bitcoin, for now, is not good for microtransaction, it is good for huge transactions and if you don't care about the fees. You can transfer across borders without having a problem and afraid of being questioned by the bank or the government and cause you money laundering. However, in my mind bitcoin is not good for now for making transactions but if the purpose of saving it in a long term for a good investment, I agree.
Perhaps, it is too early to tell --who knows time will come that will happen.

[Zilon]

For now bitcoin is better off than fiat because it is a multipurpose digital currency which serves both as a legal tender and an investment scheme. One silarity both shares is that both can be traded irrespective of that bitcoin has more volatility and higher market capitalization compared to the usual fiat currency pair.
In crypto space diverse opportunities are available to bitcoin compared to fiat especially when conversion is involved mostly. Bitcoin might not necessarily need conversion before it can be sent to its recipient. I think its more of a legal tender compared to fiat.

[Oasisman]

What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance

There will be a lot of specific areas where Bitcoin is better than fiat and the other way around. If you say, sending money from different country without the need to verify your personal info, then Bitcoin is better than fiat in that specific area. Now, If you say, you'll buy something in the grocery store or buy your favourite milk tea from the drive through, you don't wanna wait for the transaction to get confirmation from the blockchain or pay more for the tx fee If you're paying in Btc.

This has been discussed several times and the most appropriate answer is, they both co-exist and better than each other in a lot of different areas.

[BuNga_cute]

I have an opinion that Bitcoin is better than fiat, because Bitcoin can be a safe haven. The value of our wealth can continue to increase if it is
stored in Bitcoin, it is different if our wealth is stored in fiat, its value will continue to fall, because there is very high inflation in fiat. Not to mention
that sending money overseas using fiat costs more and takes longer than using Bitcoin. But that doesn't mean Bitcoin can replace fiat, due to
payment issues, fiat is better than Bitcoin. So it would be great if we could use both of them, because they complement each other. Because Bitcoin
can't replace fiat as a payment nowadays, there are still some weaknesses in Bitcoin that must be looked for a solution first.

[Questat]

I have an opinion that Bitcoin is better than fiat, because Bitcoin can be a safe haven. The value of our wealth can continue to increase if it is
stored in Bitcoin, it is different if our wealth is stored in fiat, its value will continue to fall, because there is very high inflation in fiat. Not to mention
that sending money overseas using fiat costs more and takes longer than using Bitcoin. But that doesn't mean Bitcoin can replace fiat, due to
payment issues, fiat is better than Bitcoin. So it would be great if we could use both of them, because they complement each other. Because Bitcoin
can't replace fiat as a payment nowadays, there are still some weaknesses in Bitcoin that must be looked for a solution first.

You will be wrong thinking that Bitcoin is a safe haven coz that high-risk means not safe at all. Maybe you forgot the volatility feature of Bitcoin and this will be the reason that you can just lose the value of your Bitcoin at any time or at worse, it can be hacked.

I neither to say which one is better because they can be both useful nowadays in a different aspect. If you do an online payment, go for Bitcoin but if just an offline transaction, then go for fiat. There is no need to argue which one is better.

[Yatsan]

Both Bitcoin and Fiat can be better standing upon depending on which the user prefer those to be used. Both have advantages and disadvantages depending on how certain individuals will be using those on a daily life situation. One can be dominant among the other and same with the other one. We must always put into comparison those two existing bodies for they have stand into their own purpose and usage why they exist. Maybe other may stand out to many people most of the time but we cannot neglect the fact that there are still a big population of people supporting the other one. Bitcoin and Fiat are both good and it is up to you on how you perceive using those which you can determine which stands to be better depending on the situation.

[wack slacker]

Bitcoin is born for the purpose of quickly and anonymously payments on the internet at high speed.  Over time the value of Bitcoin increases and people pay large fees for each transaction.  Bitcoin is suitable for large sums of money.  FIAT is still a good option for regular payments as there are many FIAT-approved services available.

Over time Bitcoin has been as rare as gold and silver due to the decrease in rewards of mining.  Bitcoin has become more of a store of value for everyone than for regular payments.  From an investor's point of view I choose to pay with FIAT and keep Bitcoin only.

[pinggoki]

Bitcoin already prove that it is better to fiat especially like these days that there are a virus that are very easy to transmitted in which it may also transmit on some fiat money or paper money so what good in bitcoin is that it is digital in which the people don't need to touch the money but instead you can just drew it online to avoid the fastest spreading of the virus, and another thing is that when you are using bitcoin you can always make anonymous payments or transactions over the internet but today the transaction fees here are kind of high due to the surge of bitcoin price.

[Kasabus]

it will be better if a common man can use it to easily acquire daily needs such as foods and shelter. Unfortunately many of us still end up converting the bitcoin to fiat to be able to use it access what we desire. Therefore, bitcoin is still far from being better than fiat

Bitcoin will always be a good store of value and a good investment for retirement. Although it's considered a currency, but for me fiat is far better than bitcoin when it comes to people's convenience in using it to pay for goods or services everyday. Although bitcoin has its advantage from not being corrupted, but people still prefer to use fiat because they are already used to it.

[Abiky]

As with everything else, it depends where and how you want to use it.

Is Bitcoin better than fiat for daily use? Nope and nope. Buy bread and butter with Bitcoin, or make your grandparents do it.

Is Bitcoin better than fiat as a store of value? Definitely yes.

Is Bitcoin better than gold as an investment? Currently, yes. In the future, maybe.

And so on, depending on the use case.

Bitcoin has certain limitations which makes it unsuitable as digital cash for daily payments. As long as the network remains congested, I don't see it challenging Fiat anytime soon. High fees and slow transaction confirmation times only makes Bitcoin good as a store of value. It's better than Fiat in the sense that it's decentralized. Other than that, Fiat is a better choice for stable payments worldwide. There's still hope that someday Bitcoin will become better than Fiat as the project develops over time. The Lightning Network, Taproot + Schnorr Signatures, and many other features will make this happen faster than you could've ever imagined. Who knows what the future of Bitcoin will be?

Nonetheless, we could say that other cryptocurrencies are better than Fiat because of their highly-scalable blockchain networks. Yet, they lack the level of mainstream adoption Fiat currencies have. Without merchant adoption, what use can crypto have in the real world? Time will tell us whenever Bitcoin will be able to outperform Fiat or simply remain behind it every step of the way. Just my thoughts

[bobyhodob]

it is still difficult to call bitcoin fiat and for legal payments in countries around the world because many countries do not fully agree with how bitcoin works

[MinoRaiola]

In the long term, everything will be more digital and, due to Corona, only faster. That was a strong push for digitization and payment with plastic cards and the like. One of my favorite points is that I want to have full access to my values ​​at all times. Cash is limited at the machine and negative interest rates on credit balances in the bank account are becoming important. So more digital, more Bitcoin, less banking? That was the plan? 

[MoneyJ]

My first impression of bitcoin was a payment medium for Internet transaction as like to Paypal. But with just 21 M in total supply how will be a type of payment. As time went by I now realize that the main purpose of it was the security of a network So No, bitcoin can not be use like fiat or medium of exchange simply because its limited, slow confirmation and now too expensive. Bitcoin is a protocol not money but it can have a safe transaction for digital money.

[Genemind]

I think both are essential, no one is better than the other. Each may have its unique characteristics and function but by the end of the day we need cash for our crypto to have value, it is still valued under fiat. Crypto is mostly used as a store of value rather than a medium of exchange. Crypto can be used as a store of value which is why it is being used as a hedge by most institutional investors.

[AniviaBtc]

When I invested in bitcoin, my mindset really change towards fiat and I understand the difference between these two currency.

In bitcoin, I learned a lot in the market and in the economy because it satisfied my curiosity when I was 16 yrs old.

I understand that fiat currency is has only limited features and it is not applicable when we really turn in to a more digital or technological ages.
 
As we experience advancement of technology, adoption, adjustment, and development is really important in our lives.

So for me, I think fiat will never surpass the advantages and benefits of bitcoin as an asset in the market and in bitcoin, I have financial freedom which you can't have in fiat due to central banks.