Is Bitcoin better than Fiat?

[anti-dot]

fiat currency and bitcoin are just as good in my opinion, and it also depends on the place,
if used for investment, of course bitcoin is superior to other investments such as gold or buying currency
If bitcoin is used as a transaction tool in everyday life, I don't think it is suitable because there are still many people who are unfamiliar with technology, but if it is used as an alternative to fiat money I think it is suitable

Fiat currency is no investment at all unless you trade different fiat currencies against each other or sell it short. It is a store of value (or at least supposed to be as there is inflation) while Bitcoin these days is not that close to being a store of value in its narrowest sense. It might become one soon, but it's volatility speaks against it for now.

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[Abiky]

With bitcoin, you still need to convert it to your fiat before you can really use it.
Why? Because only few merchants or shops are accepting bitcoin as payment.
So same with the dollar, you still need to convert your dollar to the local fiat before you can use it.
As not all merchants are accepting dollar directly, same with bitcoin.
They have their own pros and cons. But right now, most of our transactions are in fiat.

That's certainly true, mate. The limited adoption of Bitcoin is what makes Fiat a better option for buying goods and services. Most merchants and businesses still trust Fiat because it's stable and backed by reputable entities (in this case, the government and the central bank). Bitcoin, on the other hand, is the contrary of Fiat as its unstable and backed by nothing other than mathematics and cryptography.

In some sense, Bitcoin is better than Fiat because you're free to do whatever you want with your money without fear of censorship from a third party. No one can freeze your Bitcoin or deny you access to it, thanks to the decentralization of the core Blockchain protocol. I'd bet if Bitcoin would've been a stable cryptocurrency, it would've been widely accepted by mainstream merchants, businesses, and companies alike. At least, the number of people adopting Bitcoin is growing. Whichever form of money is best for daily payments, that's up to you to decide. It seems to me that both Bitcoin and Fiat will co-exist alongside each other for years to come. Just my thoughts

[elisabetheva]

That's certainly true, mate. The limited adoption of Bitcoin is what makes Fiat a better option for buying goods and services. Most merchants and businesses still trust Fiat because it's stable and backed by reputable entities (in this case, the government and the central bank). Bitcoin, on the other hand, is the contrary of Fiat as its unstable and backed by nothing other than mathematics and cryptography.

In some sense, Bitcoin is better than Fiat because you're free to do whatever you want with your money without fear of censorship from a third party. No one can freeze your Bitcoin or deny you access to it, thanks to the decentralization of the core Blockchain protocol. I'd bet if Bitcoin would've been a stable cryptocurrency, it would've been widely accepted by mainstream merchants, businesses, and companies alike. At least, the number of people adopting Bitcoin is growing. Whichever form of money is best for daily payments, that's up to you to decide. It seems to me that both Bitcoin and Fiat will co-exist alongside each other for years to come. Just my thoughts

what you are saying is the fact that it is true, especially in many countries, especially developing countries, that fiat is still the main transaction tool and not all of them understand the digital transactions that may have to be done. Moreover, local markets (non-modern) still use fiat and cannot accept anything other than fiat itself.
even if it is forced, it still needs to be improved, which may not be as fast as predicted.

actually bitcoin and fiat let only stick to their respective uses because they are still needed by different people. let bitcoin run and support every where fiat can't do or vice versa where bitcoin can't work there fiat. complement each other for more advanced improvements.

[judas]

Bitcoin is better than fiat in some ways and vice versa. One thing is certain that having Bitcoin is really a big financial independence. You are in charge in the end. But after the regulations, this started to change a bit. Some countries started demanding people to inform about their wallet addresses to be able to track their transactions.

[indo1]

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 covers fiat's current shortcomings. I think bitcoin is a modern currency with no controls that interests him is limited bitcoin. Makes a lot of people want to learn bitcoin technology. However, bitcoin has limitations in terms of its current backup. If someone loses a wallet. no one can find it.

[Andrews193]

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 covers fiat's current shortcomings. I think bitcoin is a modern currency with no controls that interests him is limited bitcoin. Makes a lot of people want to learn bitcoin technology. However, bitcoin has limitations in terms of its current backup. If someone loses a wallet. no one can find it.

I don't know what will be the shortcoming of Fiat because the basic features, even some higher demands on the services, Fiat always provides enough for every user, money transfer is also very fast, payment is also safe, lending service is also reasonable while bitcoin only impresses with lack of control and madness in value. Better price is a strong point but comparing range and serviceability, fiat is still the factor that contains more satisfaction

[anti-dot]

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 covers fiat's current shortcomings. I think bitcoin is a modern currency with no controls that interests him is limited bitcoin. Makes a lot of people want to learn bitcoin technology. However, bitcoin has limitations in terms of its current backup. If someone loses a wallet. no one can find it.

I don't know what will be the shortcoming of Fiat because the basic features, even some higher demands on the services, Fiat always provides enough for every user, money transfer is also very fast, payment is also safe, lending service is also reasonable while bitcoin only impresses with lack of control and madness in value. Better price is a strong point but comparing range and serviceability, fiat is still the factor that contains more satisfaction

Ever transferred money on a Thursday to somebody in the US? If you are lucky that person receives the remittance by the middle of the next week. That is not what I understand as very fast. What if your remittance gets further scrutiny or even stopped or frozen? If you have international transfers the rate you get is inferior to actual market exchange rates, hence banks take a cut of your transaction in addition to the obvious transaction fee.

[richcorner100]

Bitcoin is much better than fiat, because firstly we can change our financial only by hold it for long term because of increased of price, and for fiat, the value is keep getting loss in long times. The benefits of limited circulating supply, decentralized blockchain, increased of mining difficultly  and we can use it for cross border payment will trigger the price will keep going up in the future. In 10 years price of Bitcoin already going up 1 million percent, but fiat in my country and others got high inflation.

[Abiky]

Bitcoin is better than fiat in some ways and vice versa. One thing is certain that having Bitcoin is really a big financial independence. You are in charge in the end. But after the regulations, this started to change a bit. Some countries started demanding people to inform about their wallet addresses to be able to track their transactions.

I wouldn't say Bitcoin is better than Fiat because of its unstable prices and unpredictable nature. Of course, this would be a concern if you use Fiat as a unit of account to measure an specific cryptocurrency's value. If people paid directly in Bitcoin without basing its value on Fiat, things would've been much better. By design, Bitcoin is stable since 1 Bitcoin equals 1 Bitcoin no matter what. It all depends on how people use it in the mainstream world. For each purposes or needs in daily life, will be the type of currency to use for mainstream payments.

Nonetheless, it seems to me that both Bitcoin and Fiat will exist for a long time. While Bitcoin may never replace Fiat, it could serve as an alternative for those looking into true financial sovereignty. Determining which type of currency is best, is a decision you'll have to make. Not everyone will find Bitcoin suitable for day-to-day payments. As long as Bitcoin has loyal supporters behind it, nothing else matters. Just my opinion

[AnastasiiaGrid3892]

Perhaps I agree with you. At least for now, bitcoin is much more volatile than fiat, so cryptocurrency loses in this case.As for me I prefer not to choose one thing. It is convenient for me to pay with cryptocurrency, but often not with bitcoin, but with tether, it is more convenient in making payments. By the way, trastra has proven itself quite well for regular crypto payments. It's cool that they issue a card for payment in crypto and fiat, so here you can even choose whether to pay in fiat or crypt. I pay for quite many things and services with their card and this allowed me to get a nice mini-bonus from their partner Baxity.  :)Now I'm thinking about getting involved with some crypto-service on my web-site. I've read some good reviews about Coinspaid. Has anyone had any experience with them?

[yohananaomi]

Bitcoin is much better than fiat, because firstly we can change our financial only by hold it for long term because of increased of price, and for fiat, the value is keep getting loss in long times. The benefits of limited circulating supply, decentralized blockchain, increased of mining difficultly  and we can use it for cross border payment will trigger the price will keep going up in the future. In 10 years price of Bitcoin already going up 1 million percent, but fiat in my country and others got high inflation.

when viewed from another side as you say it is clear that bitcoin is certainly better than fiat, but we also have to know that there are still many parts of other countries, bitcoin has not been recognized as a legal means of payment and the country directly recognizes the existence of bitoin. there are still many traditional markets that require fiat needs to transact in trade.

although it's best if bitcoin is more advanced every step of the way, because there are no country and region restrictions to be able to make transactions, fiat is still needed. rightly there is mutual need between bitcoin and fiat, where if bitcoin is not needed, let bitcoin be a complement to help smoothness, so fill each other's gaps. we have to be heartened that we can be sure, fiat is still needed and we can't really have a monopoly on having to use bitcoin.

[blackened515]

Bitcoin is much better than fiat, because firstly we can change our financial only by hold it for long term because of increased of price, and for fiat, the value is keep getting loss in long times. The benefits of limited circulating supply, decentralized blockchain, increased of mining difficultly  and we can use it for cross border payment will trigger the price will keep going up in the future. In 10 years price of Bitcoin already going up 1 million percent, but fiat in my country and others got high inflation.

Ever since I have been following the blockchain technology aims and objectives, I have come to understand that crypto was built to resolve the problem of centralized system by the government, bitcoin makes you to be owner of your own bank, this implies how your money should be controlled by yourself, in my country, I recieved weekly debit alerts paying for electricity bills while I'm not on any governmental payroll, it's really annoying seeing your balance decreasing for no reason.

Fiat keeps you in a slavery mindset, you never be your own bank at any given point in time, bitcoin on the other hand is beneficial to every hodlers and long as you keep.

[anotherdayyyy]

as I see it, if you don't fully understand how Bitcoin workd, then fiat is more suitable for you since you can definitely not bear the risk contained in holding Bitcoin. to make breakthrough, you should learn more about it to get rod of the ignorance. Otherwise, if you know the core tech in Bitcoin, I don't think you'll be bewildered by the question of OP 

[molsewid]

Bitcoin covers fiat's current shortcomings. I think bitcoin is a modern currency with no controls that interests him is limited bitcoin. Makes a lot of people want to learn bitcoin technology. However, bitcoin has limitations in terms of its current backup. If someone loses a wallet. no one can find it.

I do strongly agree with your statement mate that bitcoin cover's fiat's current shortcomings, honestly speaking bitcoin has a high value than fiat's currency but both currency are useful and significant in their own area. But as the quality of life gets higher and so the needs to update the quality of life and to have another source of income to meet the needs there is where bitcoin prove its great use. It is now the newest trend source of income that needs knowledge about blockchain.

[the rise]

There is nothing better, both of them are equally privileged, for example, if you lose bitcoin, no one will help you, you can not report anywhere, whereas if you use fiat and lose , you can report it.

[affandi]

There is nothing better, both of them are equally privileged, for example, if you lose bitcoin, no one will help you, you can not report anywhere, whereas if you use fiat and lose , you can report it.

That's from a different point of view, if you are careful in using bitcoin you will not lose anything, while the advantages of bitcoin are far above Fiat, for example, its use, guaranteed security, low transaction fees, user freedom, limited supply and ease of transactions

[capcaypro]

they all have their weaknesses and strengths. some people may consider fiat better than btc because fiat is more usable in daily life, but for people who have assets in btc maybe btc is the best because it's like a different treasure like fiat that's just stuck there (no increased).
 so depending on each person’s actual assessment, which one is best you decide for yourself

[dongyi17]

Yes! I think now a days in this era.. it is more convenient and is they say safe rather to fiat because of so many things that is happening globally, this pandemic also brought us new way of technologies using bitcoin as way of payment, transaction and transfering money and among others. on the other hand fiat can still be use by many specially those countries who do not know bitcoin yet or legalize.

[GeorgeJohn]

Yes it is much more better than Fiat currency
1.It is a store of value.
2.Inflation hedge.
3.Total amount of btc that will be in circulation is known.
4.Bitcoin is security.
5.You are in control of your money.

[samsul1234]

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

hello sir, in my opinion it will be too early for bitcoin to become fiat money at this time we can see how easy it is for people to use bitcoin, and it's easy for people to tear down the price of bitcoin at this time, the country might think about going to bitcoin in anticipation of FIAT, because bitcoin is not like fiat, about the corrupt people in it, everyone must know here how the current scam projects are projected, so the government will really rethink about this and have a little doubt