Is Bitcoin better than Fiat?

[Imran232]

Obviously bitcoin  is far better than fiat. Remember fiat had an exact and fixed value where bitcoin has up down value. Well one thing why we use fiat? As a payment method right?  Okay then how much fiat you can carry. Not more that 100k. It has soo risk of theft. And it also be fully heavvy to carry. But in bitcoin you can carry unlimited money from anywhere to anywhere and the best thing is no one will be able to know how much money yoh carry. Because you can carry with just a smart phone. And you can get a cashless, full security payment system. And there has no fake note tension. So isn't bitcoin better fiat fiat?

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[izsara]

the answer is of course better
because maybe for some people fiat is still useful but for people who are already familiar with bitcoin I think they will still choose bitcoin over fiat.
because here we are free to express what we want. we can manage our own finances without interference from other people, besides that here it is also very easy to make transactions.
but this is just in my opinion because for me bitcoin is more tempting than fiat

[Gamerholic]

In my opinion, there can be many correct judgments on this score. It depends on which side you look at bitcoin and ordinary money. If we consider bitcoin as a value for investment, then of course it is better. If we consider cryptocurrency as an everyday means of payment, then of course it loses to ordinary money. But what prevents to have all these financial instruments at the same time? In my opinion, we will live for a long time in a world where both Bitcoin and Fiat will exist.

[Newlifebtc]

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

They are both needed for transaction purpose, we can't relief fully on fiat also we can't also depend on bitcoin for all transactions because most people don't really know about bitcoin up till this time and age, so when we meet those that are aware and willing to trade with bitcoin we deal

[Alucard1]

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.

That's true, corruption will only end if the government will change, the corruption nowadays is really common in every government for different countries, I don't know if corruption will end because selfishness or corruption is the nature of the people, even though they already rich if they have seen something that can be corrupted then they will do something to benefits from it.

Bitcoin and fiat currency are both good and very important for every person.

[Mr.sprin]

Of course, bitcoin is better than fiat, bitcoin can produce fiat and for those who hold fiat, they don't necessarily have bitcoin. People prefer bitcoin because there is no gap the virus can be transmitted if fiat is better there is a possibility that it can transmit corona because it touches hand to hand .

[quocsi]

If you know bitcoin, it is definitely better than Fiat. Bitcoin gives you quick profits. You invest little but get high results. Bitcoin's boom in 2021 has shown that. So Bitcoin is better than Fiat. You should invest in Bitcoin.

[hector3115]

Definitely yes. But it is too early to make bitcoin the main currency.

[Abiky]

Depending on the angle you are viewing it. Bitcoin is better because it has bridge the gap that existed in using traditional currencies in paying for services especially when you live abroad. However, to a lay man, bitcoin is not easy to understand and it require some sort of knowledge in order to understand how to use and store it. However, bitcoin is still not totally being accepted as a legal tender

Precisely. Bitcoin is still not accepted as legal tender in some countries worldwide. Even in countries with a friendly stance towards crypto/Blockchain tech, the number of businesses and merchants accepting Fiat is greater than those who accept crypto as payment method. As far as technicalities are concerned, I'd say that Bitcoin is far superior than Fiat itself. It's entirely secured by cryptography and mathematics, making it the first of its kind in the modern world. Not only that but Bitcoin empowers everybody to become their own bank. The middleman is removed from the system, making Bitcoin a much better alternative than Fiat. It's a multi-purpose cryptocurrency as it can be used both as a store of value (like Gold) and digital cash. Fiat is inflationary and its meant to decline in value over time. With so many benefits Bitcoin provides, I'm surprised why up to this point adoption is still limited compared to Fiat. I guess that people still trust Fiat more than anything else because it's backed by a reputable entity (in this case, the government). As long as this is the case, Bitcoin will only remain as an alternative than a replacement towards the current monetary system.

Nonetheless, it's up to the person to decide which form of money is better than the other. For different needs/purposes in life, will be the type of currency to use for day-to-day payments. I'd suggest anyone to use both for true piece of mind. Fiat will work well for buying good and services in the mainstream world, while Bitcoin will do wonders for those considering a reliable store of value. With how far Bitcoin went since its inception, we could say that it'll live alongside Fiat for many generations. Just my opinion

[Alert31]

I think in coronavirus pandemic situations, bitcoin and others virtual cryptocurrency better than Fiat because hard paper money a source of coronavirus. So Many countries people already avaid in market by paper money.

I agree with you. Besides, we use online payments in order to pay our bills and here in our country we can convert bitcoin and other digital currency into a fiat money that is also stored  in various electronic wallet like gcash and paymaya so we can use it to pay bills and buy our necessities online. There is no need to go out and carry a paper Fiat money, and we can prevent the virus from spreading, hassle free. You just sit in front of your computer or cellphone and make a transaction. Simple and easy.

[ILuckyGuyI]

I think that Bitcoin is better than fiat currencies especially when it comes to security. Because Blockchain technology is much more secure than banking systems. And decentralized systems will always be better than the centralized ones.

[willoweb]

It is easy to answer this question. I think that there is no better, since it is convenient to use bitcoin in everyday life until it works, unless of course you live somewhere in Japan in a large city or in California, in Silicon Valley. I think for quite a long time we will have these two methods of paying and saving, which will be in demand in different planes of our life. But it is also clear that the financial and investment revolution (or evolution) has already begun.

[macson]

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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

Over the last few months i have regularly bought Bitcoin with fiat that i have because i prefer Bitcoin to fiat.  i think Bitcoin in the future will be very expensive to buy, so my current opportunity will not be wasted.  but at this time i'm also still dependent on fiat because in my city, the majority still do not understand Bitcoin and how to transact with Bitcoin.

[Sihab76]

Definitely yes. But it is too early to make bitcoin the main currency.

Is it possible? Most of the countries in the world taking action against cryptocurrencies . China , ,india and russia already take action against who perform money laundering. I think bitcoin wouldn't be Global currency any more.

[just_Alice]

I think in coronavirus pandemic situations, bitcoin and others virtual cryptocurrency better than Fiat because hard paper money a source of coronavirus. So Many countries people already avaid in market by paper money.

Well, the risk of contamination through paper and coins can be avoided by simply using card transfers, PayPass payments, etc., so cryptocurrency doesn't stand as the only possible solution here.

[0t3p0t]

For me yes but I don't like the transaction fee to be honest because it is too high. Can't afford to send and receive with current fees. Though Bitcoin for me is very secure and future proof but still fiat would win in a daily basis use cases. I think Bitcoin will be greater and more convenient to use in the future.

[nurilham]

What do you think? Is Bitcoin better than Fiat? If not, why?

For investment purposes, Bitcoin is better. But for the payment tool, it is too early to say BTC is better. I think there are many weaknesses of Bitcoin that need to improve if it wants to be a global currency. The volatility in its value must be decreased and it should be accepted by most countries in the world. Since Bitcoin still cannot fulfill it, I think we cannot say Bitcoin is better than Fiat for payment tool purposes.

[Alucard1]

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

For those people who know bitcoin or those who already exploring bitcoin or cryptocurrency then for sure, they will choose bitcoin over fiat currency, it is because we already know how bitcoin can benefit us, it is because they know how bitcoin build so many trusts of many people including big companies, but for those persons who don't have the knowledge yet inc cryptocurrency then they would probably choose fiat over bitcoin because of thinking that bitcoin is scam without knowing about it.

[kobita333]

Advantage of bitcoin

1. Compared of traditional banking system,  Bitcoin has no storage cost.
2.The cross border transaction with uniform value is not possible in the case of fiat currency.
3. While fiat is controlled by a Government, Bitcoin has no central authority.
4.Fraudsters can not make fake bitcoin as like as fiat currency.

Advantage of fiat
1.Easy to store and manage rather than crypto
2.Although fiat money is viewed as a more stable currency that can cushion against recessions.

[kojektea]

I think they're equal at the moment. Both are equally needed. Fiat is needed in a day for shopping, while bitcoin is used to produce fiat. But there is a plus today from bitcoin, which is a fully decentralized transaction. If now the pandemic condition covid19 bitcoin is better than fiat.

I think in coronavirus pandemic situations, bitcoin and others virtual cryptocurrency better than Fiat because hard paper money a source of coronavirus. So Many countries people already avaid in market by paper money.

That's right. It's just that some governments haven't dug deeper into bitcoin in terms of benefits and profits. I think most people still think badly about bitcoin. at this time bitcoin is the best solution to fight the corona virus.

[moderator's note: consecutive posts merged]