Is Bitcoin better than Fiat?

[verita1]

Obviously bitcoin is better than fiat. My bank account is empty many times it was empty before I started bitcoin. Because my salary was low, I was barely enough to cover my basic needs. I was never able to save money even for an emergency.

Fortunately, while I was unemployed, I got to know bitcoin and the world of cryptocurrencies and since then I have been living on crypto. In my bank account I only manage money to pay my bills, my savings are in bitcoin and some altcoins.

[1715085600]

1715085600

[Zemomtum]

For this year alone not looking at what has been happening since 2009, there is no gainsaying that BTC is far better than the FIAT based on the value of return in investment and freedom of spending without any third party involvement.

[Quidat]

The purpose and the future seeable is to replace the FIAT method of payment after global adoption

Even global adoption i cant see for fiat to be replaced no matter what.Government wouldnt let those things to happen but if we do talk about characteristics and features
then we can say that Bitcoin does really have advantage over Fiat but we cant deny that Fiat does have advantage compared to Bitcoin in some aspects.
They are different and they do have different usage for some part but overall, why would need to replace if we can deal or make use of both?
It does only differ when it comes to regulation and anonymity issues.

[repear7]

Bitcoin is better then fiat in my eyes. Bitcoin is virtual cryptocurrency, No one control btc, Now btc is fully decentralized cryptocurrency. So here is low risk to lost your money. And i am feeling comfortable if i can use btc for sending payment.

[HanaTenun]

fiat currency and bitcoin have different uses, most people still use fiat currency for their lives, there are also those who use bitcoin to transact and to invest, currencies still need a lot of time to replace fiat currencies, fiat currencies are controlled by central bank and government, the central bank can control a larger amount of money to control the country's economy, while bitcoin uses a decentralized system where every transaction will be recorded in a ledger which is managed by all cryptocurrency users around the world, so that it becomes more transparent, the transaction or done peer-to-peer, so the costs are cheaper. i am currently using both.

[best123]

Both Bitcoin and Fiat are unique in their own special ways. The government will always prefer which that they are in charge because they will always want to control its flow. But Bitcoin is anonymous, no boarder etc. I prefer BTC to fiat right now.

[blckhawk]

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 is still depends on how you will use Bitcoin like if you are going to use it for daily necessities like buying foods and etc then I'd say it is a bad option as Bitcoin prices tend to changes every time, unlike fiat. When it comes to saving I'd say that is the time Bitcoin is good at because the more you hold it the more it will grow over time. So if you buy Bitcoin at a cheap price and hold for a long time there's a chance for it to bring 10x or more profit. Both Fiat and Bitcoin are useful in their own way so I don't have to see any reason why to compared them.

[geegaw]

Bitcoin is better then fiat in my eyes. Bitcoin is virtual cryptocurrency, No one control btc, Now btc is fully decentralized cryptocurrency. So here is low risk to lost your money. And i am feeling comfortable if i can use btc for sending payment.

Well, no one controls and no rules, what will you do if your transaction is sent to the wrong address and has technical problems and cannot be refunded, there's no technical or customer service department here, losing a lot of money just makes you cry loudly and sadly while fiat has a customer care department that can service you every day, loss of money is unlikely. Most especially, their cost is very low per transaction, even for accounts with the same bank, the cost of transferring is zero while fees in bitcoin always increase with its value

[Ibrahim60]

Bitcoin is a Crypto currency. We can use it in some places for buying something or make payment. But we can use fiat in everywhere. Both are different. It is totally depends upon your using style. Bitcoin Price up and down every time. There is a chance to lose or get more profit from it. On the other hand fiat is not like that. This two are different. In the future when every country in the world accept bitcoin then Bitcoin will be the better option.

[pankowri]

In a sense of crypto users, bitcoin is better than fiat. But we have to observe the whole concept. From my point of view, crypto can't take the position of fiat yet. People around the world are not aware of cryptocurrency, they are knowing about that so it will take much time to make its position in people's wallets. Because people still comfort to use fiat so it is so far the day of gain popularity than fiat.

[isaac_clarke22]

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This is what confuses me sometimes.
Why do people think that Bitcoin would replace fiat? I don't expect that all people around the world will be able to get used to Bitcoin. Even if Bitcoin becomes a dominant in crypto market, there would be always those shillers of other coins that wouldn't touch bitcoin a little bit, unless of course they're hypocrite in the shadows.

[Lmaooo]

Well for me, I think bitcoin is better than a fiat currency in a thousand different ways because bitcoin is a peer-to-peer digital currency, unlike fiat which is paper money. Bitcoin is truly decentralized while fiat currency is purely centralized controlled by the banks, central banks, federal reserves, and the government. A bitcoin transaction is fast and secure while fiat transactions are slow, insecure, and easy to trace. Bitcoin is inflation proof while the fiat currency is not. e.t.c.

[oHnK]

Well for me, I think bitcoin is better than a fiat currency in a thousand different ways because bitcoin is a peer-to-peer digital currency, unlike fiat which is paper money. Bitcoin is truly decentralized while fiat currency is purely centralized controlled by the banks, central banks, federal reserves, and the government. A bitcoin transaction is fast and secure while fiat transactions are slow, insecure, and easy to trace. Bitcoin is inflation proof while the fiat currency is not. e.t.c.

I dont mean that I don't agree with your opinion.  However, this question is written in forums that are indeed active users of Bitcoin and crypto so it is normal if the answer is from the perspective of crypto users, but if this question is written on general social media then there will certainly be many different responses or even those who don't like Bitcoin. Like money that should be stable but in crypto, this very volatile money is also something that cannot be accepted by ordinary people.

[jjdub7]

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

Personally, I don't think Bitcoin is better than Fiat money in many sides. Bitcoin transactions require large fees, Bitcoin is accepted as a means of payment in a few places only, Bitcoin has a fixed capacity of supply - 21 million coins.

On other hand Bitcoin is much better than many investment assets, I think its better function is to be an asset that can bring huge profits (as happened to people who bought Bitcoin for $ 300 or even $ 3000).

Maybe in time we can talk about a comparison, but in my opinion at this stage Bitcoin is inferior in many respects to Fiat money.

[mbe48]

In my opinion, behind these fundamental differences, both crypto and fiat currencies have similarities, both of which can be accepted because of the belief to function as a medium of exchange. Fiat currency is believed to have value and is trusted as a medium of exchange because it is issued by the government. Meanwhile, bitcoin, although not issued by the government, is increasingly believed to have value and as a medium of exchange. Until now, Crypto cannot replace fiat, because fiat is also a symbol of a country.

[Abiky]

Bitcoin is already better than fiat just because it is impossible to print more than 21M coins! And if you look at how fast the printing press prints dollars, you can assume that bitcoin will become more expensive every year, and the difficulty of mining it will only increase!
The other question is the usability of bitcoin...

Exactly. No inflation, means greater purchasing power in the long term. You don't get this with Fiat. Despite Bitcoin's many benefits over Fiat, it cannot be used as a serious currency for everyday payments because of certain limitations (such as price volatility and low transaction throughput). While there's still room for improvement, Bitcoin won't be able to topple Fiat anytime soon because of its low level of adoption worldwide.

If we had more variety of merchants, businesses, and companies supporting Bitcoin, then Bitcoin would've been a better option than Fiat. Paying with Bitcoin would be no different than paying with a credit/debit card. Remember 1 Bitcoin = 1 Bitcoin. Price volatility is directly linked to Bitcoin's valuation in terms of Fiat. Take away the high fees and slow transaction confirmation times, and you've got a better alternative to Fiat in the mainstream world. Just my thoughts

[worldofcoins]

Well for me, I think bitcoin is better than a fiat currency in a thousand different ways because bitcoin is a peer-to-peer digital currency, unlike fiat which is paper money. Bitcoin is truly decentralized while fiat currency is purely centralized controlled by the banks, central banks, federal reserves, and the government. A bitcoin transaction is fast and secure while fiat transactions are slow, insecure, and easy to trace. Bitcoin is inflation proof while the fiat currency is not. e.t.c.

Technically you can still track someone using bitcoin if people following you are government officials, they have the right to ask the store you purchased something you info eg- IP address.
I would also have to disagree on fiat being traceable, it isn’t unless you get raid on due to some suspension, Note ID numbers are unique but no one cares to, nor they can memorise that ID also, I don’t think anyone registers that ID when you use that Fiat Note.

[sapnu]

Bitcoin is way more better than fiat in many ways. Just like how bitcoin is a decentralized currency while fiat is issued by the government which explains why everyone is still using it and trusting it. The difference of bitcoin's volatility with fiat is very far from each other. Fiat usually increases or decreases very little depending on how well the economy of a certain country is doing. It's just that people are not able to see how much better bitcoin is compared to fiat, maybe because of the publicity and legalization, or maybe because bitcoin is not like fiat where we can physical touch it and use it to spend with our daily needs.

[nebuch]

More likely yes in different field such as person to person from far places can do transaction faster than fiat transaction confirmation. Also money is just for the sovereignty, while Crypto or let me say Bitcoin is for global depends on the platform. There are more advantages why Bitcoin is better than fiat and also another side are disadvantages.

[Denial11]

Bitcoin can or cannot be better than fiat. Various fiats are struggling to cope up with the global crash. In such a case, Bitcoin could be helpful. Now, for a well-regulated country, it is obvious that the fiat is doing adequately to the economy. There is no need for Bitcoin at all. If we compare the speed, cryptos are better than physical money. Transactions can be done in a few minutes and you do not need to put your hands into the pockets to bring out cash. With cryptos, you can spend anonymously. Bottom line is, both have their merits and demerits in different situations.

Sources>>  https://www.cryptoknowmics.com/news/list-of-stable-cryptocurrencies/