Is Bitcoin better than Fiat?

[leea-1334]

Bitcoin is different from legal currency. Legal currency is usually stable, but it is easily affected by the instability of the financial system. Although Bitcoin is unstable, Bitcoin itself is determined for system stability, not for price stability. Relatively speaking, Bitcoin It’s a safety priority, almost the safest jisuanjixitong ever.

You mean legal tender? Because Bitcoin is legal currency in many countries,,, and no, not all legal tender is stable, stablecoins are even more stable.

Fiat is affected by financial system stability and crypto is affected by crypto market stability (aka Bitcoin). So, not really a big difference if you ask me 

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[Cryptopher]

There are applications whereby Bitcoin and various other cryptocurrencies are favourable over fiat. These have already been discussed as part of this thread.

IMO, there is still a long journey to go but that journey is moving with pace. Fiat is still king for now.

Interestingly we are already seeing a lot of places going cashless around the globe, especially since the pandemic.

[Bitcoin Smith]

Yes bitcoin is better than fiat currency because most people will invest in bitcoin and it is very profitable so many people invest in bitcoin more than Fiat  the investment is based on the future only you can invest in Bitcoin make the profit easily in few years that's why investment in Bitcoin more better than any other currencies.

[lepbagong]

Yes bitcoin is better than fiat currency because most people will invest in bitcoin and it is very profitable so many people invest in bitcoin more than Fiat  the investment is based on the future only you can invest in Bitcoin make the profit easily in few years that's why investment in Bitcoin more better than any other currencies.

when it comes to investment, I agree that investing in bitcoin is currently more profitable if we compare it with our investment in fiat, because the value of the increase that will be received is very much different and investing in bitcoin is very profitable. but we must also admit that there are still many countries that have not been able to fully accept transactions with bitcoin and clearly cannot force it, that fiat is still very much needed for things like this. so actually the two cannot be compared because what is more important is that they complement each other between bitcoin and fiat, so there is a synergy between them that their needs are different but can cover each other.

[DarkDays]

It depends on who you're speaking to. Each have their own pros and cons. Bitcoin can be better than fiat but it lacks the infrastructure to enable mass adoption and even after that's sorted we'd still have to worry about its limited supply.

Fiat is not an option considering how it has worked until now but it is what people use so adoption is there, infrastructure there it just misses the core function that BTC provides - transparency and immutability.

It really is a can of warms, none is yet perfect but we're leaning towards the next best alternative - and this may not be either of them BTC or fiat for some of the reasons above.

[Ngewex Yuk]

Yes bitcoin is better than fiat currency because most people will invest in bitcoin and it is very profitable so many people invest in bitcoin more than Fiat  the investment is based on the future only you can invest in Bitcoin make the profit easily in few years that's why investment in Bitcoin more better than any other currencies.

When people save fiat of course only aims to meet the needs of life, fiat is not for investment, the value of fiat will remain even decrease due to the influence of inflation, this is different from bitcoin which continues to increase because global users and communities continue to strengthen, bitcoin can function like fiat and We can also use it for investment.

[bryant.coleman]

It depends on who you're speaking to. Each have their own pros and cons. Bitcoin can be better than fiat but it lacks the infrastructure to enable mass adoption and even after that's sorted we'd still have to worry about its limited supply.

Fiat is not an option considering how it has worked until now but it is what people use so adoption is there, infrastructure there it just misses the core function that BTC provides - transparency and immutability.

It really is a can of warms, none is yet perfect but we're leaning towards the next best alternative - and this may not be either of them BTC or fiat for some of the reasons above.

I am not sure whether lack of infrastructure can be taken as a negative for Bitcoin. Fiat currencies have existed for many thousands of years. The Mesopotamian shekel was first minted in BC 3000. On the other hand, the first cryptocurrency was mined only in 2009. So it is natural to assume that cryptocurrency infrastructure may take a few more years or even decades to get stabilized. But we are already moving at a brisk pace. With every passing year, cryptocurrency is becoming more accessible for ordinary people.

[Abiky]

I am not sure whether lack of infrastructure can be taken as a negative for Bitcoin. Fiat currencies have existed for many thousands of years. The Mesopotamian shekel was first minted in BC 3000. On the other hand, the first cryptocurrency was mined only in 2009. So it is natural to assume that cryptocurrency infrastructure may take a few more years or even decades to get stabilized. But we are already moving at a brisk pace. With every passing year, cryptocurrency is becoming more accessible for ordinary people.

That's certainly true, mate. Bitcoin is still new to the world, unlike Fiat. There's a long road ahead before Bitcoin and other cryptocurrencies become stable enough for mainstream use. Scalability and volatility issues need to be solved for Bitcoin to reach widespread adoption in the mainstream world. Otherwise, it'll never be able to compete directly with Fiat. At its current state, Bitcoin is terrible for day-to-day payments. But that's bound to change in the future as the network improves with subsequent upgrades rolled by developers. If it wasn't because of Bitcoin's current limitations, I'd say that Bitcoin is ten times better than Fiat. Maybe someday our dreams will come true, putting an end to Fiat's hegemony. At least, Bitcoin won't be going anywhere because of its decentralized and censorship-resistant nature. Just my thoughts

[Wakate]

Bitcoin is not better than Fiat but greater in my own perspective because almost what might be difficult for Fiat to accomplish, Bitcoin had covered those lapses making it a better way of running business easily without running to bank for confirmation of transactions delaying businesses especially those ones that involves larger funds.

Bitcoin is money on it's own and also an investment that can generate big and interesting results over time. For buying and keeping Bitcoin, many had become so rich above there imagination which our mere Fiat can never do. Bitcoin is versatile in movement making it both risky and advantageous to people that are holding it.

[MartinsCoin]

In my opinion, it's not about bitcoin being better or worse than FIAT, I believe bitcoin came to show that there are other ways that are much more interesting to make your investments more profitable than traditional models, because with bitcoin people have more freedom to take care of their money. With the arrival of bitcoin many opportunities are arising together, where some companies are already providing means of payment with bitcoin, making life much easier for its users. Right here on the forum itself, an opportunity to remunerate its users has been opened up thanks to bitcoin as well as world-facing news sites of the cryptocurrencies that are working and generating jobs thanks to the news aimed at this market. Anyway, I could describe many more examples here, but in short, there are many opportunities created thanks to the rise of bitcoin. Bitcoin, like FIAT, can be used for good or for bad, it all depends on the mind. I can say that bitcoin helped a lot of people, especially at the time of the pandemic. unfortunately all this I came to help the population, the state wants to dominate so as not to lose control over people's actions, but the good progress of bitcoin in the near future will depend a lot on us at this moment, on how we do performance and how we will take care of our digital gold. I think teaching current and future generations about the world of cryptocurrencies and their good use is a fundamental mission for everyone who wants to live in freedom and ensure that bitcoin comes they last for many, many years.

[MetaStarter]

Bitcoin gives us solution for the limitations which exists in fiat currency. Bitcoin and crypto might have some different limitations. Both the currency formats have their own pros and cons. It depends on how we are looking at it. Crypto is in early stage of development so it would be too fast to compare it with other forms of currencies.

[pragna]

I will always say BTC is batter from fiat money because we can easily do any payment within very short time and accurately. And in this busy world this is very important and needed. On the other hand this is risk free and there is no middle men that we always see some problem in fiat money transaction. But one problem is still on ground that is BTC still not accepting all govt and all places. I think when it will accept everywhere, fiat money will vanish.

[(o)(o)ilikeboobs(o)(o)]

I think Bitcoin is better because it contains no internal politics and is a currency whose scarcity increases over time.
Bitcoin has been professionally invested by millions of people and dozens of businesses. So there is nothing wrong with investing in Bitcoin. The early people in the crypto market invested early and they became rich.

[Kusman]

This has always been at the centre of many discussions. Is Bitcoin the better or fiat? My answer is that they both have advantages and disadvantages. None of them is perfect of course.

- Bitcoin gives you the freedom of making your transactions without using any bank, etc.. The anonymity is one of the things that draw people's attention the most. However, Bitcoin is highly volatile. And this prevents it from being preferred as the main currency for most of the countries.

- Fiat on the other hand is not a money that is too volatile. We have been using it for many many years and it is the money type we have been accustomed to the most. But as long as an amount of money which is more than needed continues to be printed, fiat will be worthless in the future.

[Mr.sprin]

very interesting to discuss bitcoin and fiat both are equally important depending on the needs I'm sure many people will choose bitcoin for investment but if for daily needs fiat is the right choice because not all countries accept bitcoin as a medium of exchange.

[ShowOff]

very interesting to discuss bitcoin and fiat both are equally important depending on the needs I'm sure many people will choose bitcoin for investment but if for daily needs fiat is the right choice because not all countries accept bitcoin as a medium of exchange.

Bitcoin is a mean of payment regardless of whether the government legalizes it or not. You can accept personal payment in bitcoin "if you agree" even though the government has made regulation. So far, the government's ban on the use of bitcoin as a mean of payment has not had a major impact on the growth and interest of users to trade bitcoin or use it as a mean of payment in other countries where it is legal. It's just that you need to convert it to fiat if you want to shop in a country where it is prohibited.

[clint25n]

indeed cash is the best money at the moment that is used by many people, but in terms of the interbank transfer process we admit that bitcoin has its own advantages so that it is easier for us to send money to other people in an unlimited time way so that we are more we are free to transfer any amount we want, so here we can say that bitcoin can be more easily used for the purposes of sending money to other people

[dunfida]

indeed cash is the best money at the moment that is used by many people, but in terms of the interbank transfer process we admit that bitcoin has its own advantages so that it is easier for us to send money to other people in an unlimited time way so that we are more we are free to transfer any amount we want, so here we can say that bitcoin can be more easily used for the purposes of sending money to other people

Even though how we much hated up Fiat for being too centralized and having that inflation problem but still it is something that most people been using.We cant just really make out digital transactions from time to time

which fiat had been used through ages and serve its purpose even though it does have its cons and criticisms but we cant really just set aside its pros and actual usage.This is why im not really that against with it

and with together on Bitcoins existence then this is something good to be an alternative and both does have its own purpose.

[dupee419]

indeed cash is the best money at the moment that is used by many people, but in terms of the interbank transfer process we admit that bitcoin has its own advantages so that it is easier for us to send money to other people in an unlimited time way so that we are more we are free to transfer any amount we want, so here we can say that bitcoin can be more easily used for the purposes of sending money to other people

Even though how we much hated up Fiat for being too centralized and having that inflation problem but still it is something that most people been using.We cant just really make out digital transactions from time to time

which fiat had been used through ages and serve its purpose even though it does have its cons and criticisms but we cant really just set aside its pros and actual usage.This is why im not really that against with it

and with together on Bitcoins existence then this is something good to be an alternative and both does have its own purpose.

Both currencies, fiat and crypto serves their own purpose, I agree with dunfida, both are essential in this generation, it gives us options to choose from, we can't really just forget about fiat because it has existed ever since, and it is true that both have its pros and cons, Bitcoin's volatility is considered as a pro and a con since too much volatility can be bad, and this is why fiat is needed.

[v3liana]

I think one day, may in next 5-6 years when 99% of the Bitcoin will be mined, the price of Bitcoin would be stabilized and with Lighting Network or other Layer 2 solutions we could see Bitcoin as a currency. But at this moment Bitcoin is just am Asset and maybe in Price Discovery Mode.