Is Bitcoin better than Fiat?

[Abiky]

For the first time in history, money is separated from the state. Bitcoin aims to be an alternative to Fiat currencies by providing financial inclusion to anyone, anywhere in the world. A system governed by mathematics and cryptography will put an end to corruption once and for all. The pioneer cryptocurrency can be used globally without limitations thanks to its decentralized model. People can send cross-border payments in minutes without the need for ID verification, background checks, or credit checks of any kind. This brings a whole new era of financial sovereignty as we know it.

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

[Imran232]

Bitcoin already proved that it is better than fiat. Though i also think it is too early to say anything about it. But i think we can say it because we already see the power of bitcoin. It is better than fial, savings, stock market, gold or real state too. A place which is a combined of everything then why it can't be better than fiat. I also agreed with your point too. But why government can't agreed? Its answer is also same because it is a thought which is a out of everyones thought. Then what we Should do? Nothing just party with our profit from bitcoin.

[DarkIT]

Some are thinking, bitcoin will end up the corruption. But it's not a correct concept.Corruption only end with the giver mindset changed. Because to make the work easier, we are giving them a commission. Even if we buy a bike, we will give some commission to the sales person. It's only to speedup the work.

[masterzino]

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.

[Welsh]

You are asking this question on a Bitcoin forum, so one would assume that there will be a clear bias towards Bitcoin being the superior currency. Although, just to throw a little curve ball I'll bring up a point which I think is valid; The better currency is what suits your needs, and is in line with your goal. For example, if you aren't the risk taker, and you are saving for a house Bitcoin might not be the best thing to put your money into. Instead, a savings account which offers interest might better benefit you. For example, in the UK we have various government schemes where they will put a certain amount per earn based on how much you deposit.

That's just one example out of hundreds that could be listed. Basically, Bitcoin can be very profitable in the short term if you want to take risks, and cash out into fiat. Fiat currently is more accepted around the world. To go back to the housing argument, if you were to buy a house its very likely that you'd find that the people selling aren't willing to accept payment in Bitcoin. So, to buy a house you would likely need fiat.

However, if you believe in Bitcoin you might want to stick your money into Bitcoin, and hold onto it. Either, until its hit a certain price point which you would then withdraw or keeping it to use as the primary currency later on. Especially, if you think that Bitcoin could hit 1 million for example, keeping just 1 Bitcoin, and not touching it could potentially serve you well in the future.

Its down to your circumstance, and what you want to use your money for. There is no real better currency as we all have different needs. Objectively, if you were to look at the pros, and cons I could probably list more pros on Bitcoin's side, especially not relying on third parties, however that is also subjective, and depends on the person. Some people like to rely on third parties, and dare I say it I believe certain people might need it. For example, the fraud protection that banks have in place is actually somewhat of a good thing, and can protect those that are likely to fall for various scams.

[Fatunad]

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

Both does have pro's and con's which we can really make out some differentiation between the two but never ever in my thought on thinking that Fiat would be replaced by Bitcoin.
Its really an impossible thing to happen no matter what as long government do exist then its impossible for any crypto to totally replacing out fiat because people would really still
consider on using that stable fiat on most situations even though it does have criticims for most of the time but we cant really deny when it comes to relevance.
Bitcoin is better that fiat on lots of points but we cant really consider on completely replacing it no matter what.

[Dutchyyy]

If monetary policy concerns, untested money printing and ever-increasing inflation continue to worry both retail and institutional investors, they will look for alternatives that provide the security that Bitcoin provides in a unique digital format.

Definitely Bitcoin and cryptocurrencies have much more advantages over fiat money and it would be much better to use them. From the point of view of governments and the people who control us, through cryptocurrencies they will lose this opportunity and there is no way to manipulate people with their finances.

[ReiMomo]

~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

How many times we discussed here.
However, in my opinion, there's no betterment among them because they had both pros and cons. We know that the fee was the barrier of bitcoin that becomes a world transaction used just like fiat, the goal of Satoshi was failed because of the high fees. But when it comes to storing value, bitcoin has pros compared to fiat while storing on the bank.

That is a little insight that I gave to you, these are not comparable like you are comparing gold or other valuable assets to bitcoin, bitcoin is different among others. Maybe I guess, another reason is too early to give an opinion which is clearly bitcoin as of now it has a huge fee.

[blockman]

For both of its uses, I say that it is better.
Bitcoin as an investment is better than fiat and someone who keeps it will find it appreciating than depreciating just like fiat. With fiat, it's what we use in day to day living. We want to see that one day bitcoin is the medium for buying everything.
But due to the fees, it's real that it is high and can't be done unless transactions are off chain which don't incur fees.

[uneng]

Personally for me bitcoin is being much better than fiat. I just keep using fiat because I'm forced to do it in order to have access to daily products and services. If it was possible I would fully adopt bitcoin as currency while protecting my patrimony against btc volatility by buying properties or valuable goods and assets like gold for an example.
For me it's enough to conclude bitcoin is the best since to save fiat makes you lose the value of your money on short, medium and long run. It's insane how people accept this fact without major complainments.

[Hippocrypto]

For the first time in history, money is separated from the state. Bitcoin aims to be an alternative to Fiat currencies by providing financial inclusion to anyone, anywhere in the world. A system governed by mathematics and cryptography will put an end to corruption once and for all. The pioneer cryptocurrency can be used globally without limitations thanks to its decentralized model. People can send cross-border payments in minutes without the need for ID verification, background checks, or credit checks of any kind. This brings a whole new era of financial sovereignty as we know it.

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

Exactly that entails all the meaning and purposes towards financial freedom for all individuals around the world. Bitcoin eliminates transactions hassles particular on money transfer and several payment types. Because of bitcoin, that broke the capabilities of fiat money, like digital transfers that requires different specific roles specially when it comes to money.
It all acquires the advantages that a fiat can't do due to limitations governed by authority of a certain country regulations.
In general assessment, it's digitally better than fiat despite of unregulated value that wouldn't stabilized due to volatility of the market.

[hatshepsut93]

A system governed by mathematics and cryptography will put an end to corruption once and for all.

I doubt Bitcoin can do much to stop corruption, even if you try to track government spendings on blockchain, there's still a lot of room for embezzling funds through various schemes. And a big part of corruption is not the lack of detecting it, but lack of willingness to take action against it.

This brings a whole new era of financial sovereignty as we know it.

A whole new era that most people don't care about. Things like bank account freeze or getting your money unjustly seized affects only some tiny percentage of the population. Others don't see reasons to switch to Bitcoin. This is why the "digital gold" narrative is so popular, everyone wants to make money passively.

[Swordsoffreedom]

Bitcoin and fiat have different requirements and importance, Just as we need bitcoin, we also need paper money. Bitcoin is the most useful to perform quick and instant transactions. It is not possible to transact quickly and in a decentralized way by using fiat money.
As Bitcoin is decentralized, so there is no need for the involvement of any 3rd party services and people could make transactions with the lowest cut-off fees than bank transfer.
On the other hand, fiat money is mostly used currency and people can use it here and there in their daily life. So we need fiat money to liquidate our Bitcoin, and you can't deny one of them cause both of them are important and has their own purposes.

[Coyster]

'being your own bank' is something you'd expect quite a large number of people to be interested in via Bitcoin, to also add the control, freedom, anti-inflationary nature and other whatnots, but yet only just a handful of the worlds population is actually interested in Bitcoin for one reason or the other, the most visible reason would be the risk concern associated with 'self-banking'.

Having said that, people who would think 'Bitcoin better than Fiat' would be people who appreciate the nature of Bitcoin, being somewhat entirely different from Fiat, this are people who understand the risks involved and how easy it is to 'stay safe' from scammers, and then Bitcoin is also an investment opportunity, and definitely investors making ROI from Bitcoin would also lean to the support of Bitcoin.

Thus the thing is, it's a somewhat subjective case, people who are comfortable with Fiat and do not want to associate themselves with the risk of being their own bank will obviously go in favor of Fiat; that's why it's impossible to handpick the currency that's better, the question should be which currency is most suitable for a particular person and why.

[pixie85]

It is and it is not.

Fiat money is supposed to be an easy medium of exchange. Bitcoin is not. You can't grab a hot dog from a stand or a coffee and it's not because of lack of acceptance or even fees because fees can be adjusted. The main problem now is time between blocks. 10 minutes is too much for cheap fast stuff you want to get on the go, like gasoline.

It's better because of all the decentralization and no middle man stuff but fiat is still much better in some instances.

Want to send money to someone abroad? Bitcoin
Want to buy a house? Bitcoin
Want to save up for retirement? Bitcoin
Want to pay your bills, grab a meal, buy a bus ticket, shop for groceries, order food online? Fiat

[AnonBitCoiner]

For the first time in history, money is separated from the state. Bitcoin aims to be an alternative to Fiat currencies by providing financial inclusion to anyone, anywhere in the world. A system governed by mathematics and cryptography will put an end to corruption once and for all. The pioneer cryptocurrency can be used globally without limitations thanks to its decentralized model. People can send cross-border payments in minutes without the need for ID verification, background checks, or credit checks of any kind. This brings a whole new era of financial sovereignty as we know it.

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

Bitcoin is great than a fiat. It's not a extreme statement.It was purely my opinion. Even though we had analysis the crash between US dollar and Chinese yuan.But this bitcoin investment make it the new competition in the currency world. In many manner bitcoin was a greater than a fiat.

[k@suy]

Personally for me bitcoin is being much better than fiat. I just keep using fiat because I'm forced to do it in order to have access to daily products and services. If it was possible I would fully adopt bitcoin as currency while protecting my patrimony against btc volatility by buying properties or valuable goods and assets like gold for an example.
For me it's enough to conclude bitcoin is the best since to save fiat makes you lose the value of your money on short, medium and long run. It's insane how people accept this fact without major complainments.

If time comes that the society and the world has already adopted the use of cryptocurrency where fiat and bitcoin can be interchangeable it's uses freely and anytime then i guess from here we can distinguish properly which one is better. Because as of the moment, both coin were important and has it's own uses depend on the needs of the people that uses it. But honestly speaking, bitcoin was more valuable kind of coin compare to our fiat, because here in our country owning even 1Bitcoin if i would exchange it in our fiat it will now give me a million worth of coin.

[Bilgent]

Fiat and Bitcoin both have positive and negative sides of course. I can't say that one of them is completely better than the other. But I'd like to say that Bitcoin's popularity continues to rise every year and its usage also broadens. People are really curious about it as its decentralized structure and its being a futuristic version of money. And for sure, we will see digital currencies will be taking the place of fiat in the future.

[Ridwan Fauzi]

Yes in certain circumstances, bitcoin can help many people to sending money whereever they want without help third party. If we compare with the current system (bank) you may need bank to sending your money also the time for transaction proccess takes a long time, at least three days if you use western union.

Also, bitcoin can stand in any economic situation, as you can see now when pandemic comes almost all money fiat in any currency experiencing inflation because the government made a bunch of money paper to help their economic back and that is a bad situation for moneu fiat's value.

But, bitcoin has disadvantage as well. Like transaction fee is getting high evertime its price increase. Also, just a certain people who will know even who can uss bitcoin. An old person will be difficult to understand how bitcoin work and how to use bitcoin, whilst the function of money must be easy to use and accepted by all groups.

[Renampun]

for me of course Bitcoin is much better than fiat...
Bitcoin has 2 functions as a currency and also an investment asset while fiat is only a currency. but many are still very afraid because of the price volatility and high Bitcoin transaction fees. *Bitcoin is unmatched