Why crypto (bitcoin) is better than traditional money?

[BOAEDAN]

Crypto currency in not controlled by centeral government it's only controlled by owners.It's faster, cheaper and more secure. Cash is controlled by banks while bitcoin has owners and it is easy to conduct transactions across boundaries and online.In traditional money banks involvement in transaction process whereas in crypto currency the users have fully freedom. And the world is shifting to traditional wallets to digital wallets. Crypto have many advantage. Easy to transfer and faster.

true as you said my friend, why bitcoin is more than fiat currency, because bitcoin is not controlled by anyone, only we control our own bitcoin, and bitcoin also has many uses, we can use bitcoin as an asset to benefit in the future , while fiat currency cannot give us any advantage, but fiat currency only gives us comfort..

[haasanjui]

About my opinion Bitcoin is better than traditional money. Because Bitcoin is digital currency we can buy and sell it anywhere and it give us a profit by trade it. And Tesla company use crypto currency to deal customers it is starting of crypto world and market.

[Kayum10029]

Naturally people don’t like extra hassle, so they want to choose something or a way that they can easily get what they want.Cryptocurrency is one such way that fiat or paper currency problems can be easily calculated nationally.So easily people are looking for cryptocurrency instead of paper money.

[KennyR]

Cryptocurrency is better than traditional for some reasons. Same as that we can find traditional money to be better than cryptocurrency for some reasons.

Few of the reasons why I find cryptocurrency better is the decentralisation, transparency, increased efficiency and no inflation due to the limited supply.

Reasons on which traditional money stands better, ease of usage due to the physical paper money. Zero transaction fee on purchase/buying of products and services.

[ayan9167]

Bitcoin is better then traditional money because
It's faster, cheaper, more secure and immutable. Traditional money is controlled by banks while bitcoin has owners. ... Less volatile than cash: Bitcoin has a global acceptance and is less volatile than local currency. Due to this feature, it becomes easier to conduct transactions across boundaries and online.
Bitcoin is peer-to-peer and open, yet secure and nearly frictionless

[Shenzou]

I think that people have moved away from looking to crypto as a currency and they just consider it as an investement as any other, so even the value of it changes and it is looked at as buy and sell value, and when it comes to bitcoin even transactions time and fees do not encourage its regular use as a currency.

[cheezcarls]

For me, I honestly think that Bitcoin and fiat currencies aren't competing against each other. Each of them had different real use cases. We still need fiat because that's the most common currency that we're spending for our everyday lives. On the other hand, Bitcoin has a different purpose where we can just simply buy and hold or trade (or even mine them when we had mining rigs) and I don't think it's an ideal payment method for traditional businesses due to it's volatility and transaction fees. Just my opinion.

[retnoanjani]

• Cryptocurrency is relatively free and there is no third-party supervision
• Cryptocurrency cannot be faked
• If you keep the keys properly, no one can get your wealth
• Investing in cryptocurrency will have more gains

not completely free, isn't there a transaction fee?
for the other points I agree. The advantage of transactions using crypto is that there are no space and time limits, regardless of the amount and whenever you send it it will be confirmed, and the nice thing is that there are no complicated administrative matters. This is indeed a little tricky for beginners, but if we want to learn it will definitely be used.
but we must be ready to take full responsibility for all risks, including the risk of loss because it is like we have a private bank that we manage ourselves.

[LUCKMCFLY]

I know about crypto and everything in general but I am having difficulty to understand one thing about it. Why crypto or bitcoin is better than money ?

I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.

This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?

I think it is simple, the explanation is that the FIAT currency will always be exposed to inflation, even the dollar or the euro are open to these problems, while BTC and cryptocurrencies are not, with FIAT money debt is generated, with BTC and cryptocurrencies the debt is eliminated, you enter a totally deflationary economy.

Currently the world economy has been in a turn of active and passive alternation thanks to the pandemic, that is why in Europe there are many activations and deactivations of the economy, since the confinement has caused the flow of money to fall, for now. the economy that moves the most is that of BTC and cryptocurrencies. I think that the best investment portfolio lies in having investment in gold, real estate and BTC with cryptocurrencies, that is the best way to have a superior economic position and that can withstand sudden changes that may occur worldwide, including fundamentals like Covid, war and other similar things.

[BOAEDAN]

For me, I honestly think that Bitcoin and fiat currencies aren't competing against each other. Each of them had different real use cases. We still need fiat because that's the most common currency that we're spending for our everyday lives. On the other hand, Bitcoin has a different purpose where we can just simply buy and hold or trade (or even mine them when we had mining rigs) and I don't think it's an ideal payment method for traditional businesses due to it's volatility and transaction fees. Just my opinion.

true as you said there is no competition between bitcoin and fiat currency, in fact they live side by side, they need each other, they have their own advantages, bitcoin requires fiat to exchange, we can turn bitcoin into an asset..

[blackened515]

In my opinion, BTC compared to traditional money, the cryptocurrency has many features, financial freedom, no one controls, in addition, it can be invested for a long time to generate profits. Traditional money is left to lose value for a long time.

Also, bitcoin have low transaction fees, it very secure. It impossible for someone to have access to your wallet without the private keys. Bitcoin can be transferred to anyone in the world, it has no boundary. However, traditional money also have it own role to play, although, traditional money is been controlled by the government, they  control how much money is printed.

[Levero]

Decentralized
Bitcoin does not rely on the trust of any entity and is a valuable cryptocurrency that is not supported by government agencies or financial institutions.
Scarcity
Bitcoin has a fixed and limited supply. Many people are long-term investors, and now more people enter the crypto market, leading to more scarcity.
Portability
Bitcoin is not a physical object like gold and cash. It runs in a network system. As long as you remember the wallet private key, it is safe and convenient to store. It can also conduct cross-border transactions through the Internet.

[marilynmanson21]

actually there is no point in comparing bitcoin with traditional money because they both serve a specific purpose and have different advantages. and  bitcoin and fiat have their own interests and uses, where bitcoin may be better for transacting, and for traditional money it still holds the advantage.
the point is they will always be side by side

[Cindella]

Good security
Bitcoin is a cryptocurrency stored on a decentralized blockchain, and transactions will be confirmed and recorded by multiple nodes on the blockchain.
Very low possibility of inflation
Bitcoin is extremely scarce, and the total amount is fixed at 21 million, avoiding the possibility of excessive currency issuance. And the decentralized storage and transaction model has greatly weakened the government's control.
Has investment value
As the number of bitcoins mined gets closer and closer to the upper limit and demand for them increases, the value of bitcoins will increase accordingly.
 

[dimox]

the different is crypto can make money, and money cant make money.
some people want crypto as payment, but there are many people
still want to collect crypto as much as they can for making money. what people need is money, they think that something can produce and make it realize what they want is greatest than other.
but, never forget to not campare between crypto and other currency.

[EdenHazard]

First of all there is a big different between crypto (or more accurately cryptocurrency in general) and bitcoin.
What you see in cryptocurrency market (ie. thousands of altcoins) is a hyped up penny stocks market where they sell vaporware to anyone who is willing to gamble on their low prices for a big pump to make a huge profit in the shortest amount of time possible.

Bitcoin on the other hand introduced a unique concept to the meaning of "money". A concept that always had unlimited supply, was controlled and printed by the government and was centralized suddenly got expanded. Now money can have limited supply, doesn't have to be inflationary, can be decentralized and censorship resistant, can be safe and fast.
I don't like comparing things in black and white so I won't say if bitcoin is better than fiat or not. Bitcoin is a good currency, it does what it was designed to do and that's the important thing.

+1
but bitcoin has triggered tons of innovation through altcoins which you cant deny that altcoin has a lot of potential to grow and make crypto as a mainstream currency besides bitcoin.

so yeah bitcoin are above all cryptocurrency and altcoins lay behind as an ecosystem support.
It doesnt need to explain the technical sides like no third party decentralized etc... the most huge benefit by using bitcoin as a form of money is NO TAXES period.
simply as it. wanna debate this?

[Kittygalore]

It's more convenient to carry your phone that you can use to pay for your items compared to having to take it from your old wallet and have to shuffle through it anxiously getting the right amount of money to pay when you can do the same with just a bit of a tap and some waiting. Although it's not yet a viable thing to do right now because not many businesses have a crypto payment system in them so it's a bit of a pipe dream for now but I think the biggest factor why crypto is better than fiat is because of the convenience it provides.

[Gcrypto786]

true as you said there is no competition between bitcoin and fiat currency, in fact they live side by side, they need each other, they have their own advantages, bitcoin requires fiat to exchange, we can turn bitcoin into an asset..

I agree with you, as we can't compare those two currencies and also we need both of them in their responding place. Crypto currency is good to use in a place where you don't want to be tracked.

[Dhaniii]

I know about crypto and everything in general but I am having difficulty to understand one thing about it. Why crypto or bitcoin is better than money ?

I mean I know the block chain technology is revolutionary and it has many benefits, it is being used by all crypto. Money is used to buy goods and services and there are very less businesses accepting crypto and still the prices are rocket High.

This Crypto trend looks more like share market company evaluation rather a legitimate currency. Moreover all government have there own currency, goverment cannot let that sink and can ban these. Can someone explain to me the value of Crypto as a currency when compared to real money ?

Talking about currency comparison in crypto with real money, it has a different definition.
digital currency is primarily used as a stock or asset that is very valuable with the potential for profits to be doubled from its original value. while real money is a fixed value and the potential for growth is normal above average, inflation is common.
Broadly speaking, digital money is like goods being traded and while real money is a legal medium of exchange to buy these goods.

[hazenyc]

Cryptocurrency is better than traditional for some reasons. Same as that we can find traditional money to be better than cryptocurrency for some reasons.

Few of the reasons why I find cryptocurrency better is the decentralisation, transparency, increased efficiency and no inflation due to the limited supply.

Reasons on which traditional money stands better, ease of usage due to the physical paper money. Zero transaction fee on purchase/buying of products and services.

We haven't yet arrived at increased efficiency unless you are a huge Bitcoin holder and are transferring larger sums around the world. Yes, then there is no doubt you made the right choice with Bitcoin, but you could also use a cheaper cryptocurrency with sufficient liquidity to do that. For those who have only a little bit of Bitcoin, we can't really claim that Bitcoin is more efficient than traditional money, depending on what you are referring to with efficiency. If it is speed, then yes depending on the purpose Bitcoin is supposed to fulfill. Buying a cup of coffee sucks, sending money from Asia to Europe or vice versa it is great. We don't need to talk about the costs to do that though.