Bitcoin Is A Better Option Than Fiat Money?

[TelolettOm]

Ideally, it should be yes, especially in cryptocurrency we can control it by ourselves, not by big powers like the world bank or the government.
However, in practice, this is not the case.
Because basically this is still considered new technology, there are still many pros and cons, there are still many ordinary people who do not understand about cryptocurrency, even there are many media that spread negative news or FUD about crypto. So, the advantages possessed by crypto seem closed and actually dangerous.

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[Japinat]

Ideally, it should be yes, especially in cryptocurrency we can control it by ourselves, not by big powers like the world bank or the government.
However, in practice, this is not the case.
Because basically this is still considered new technology, there are still many pros and cons, there are still many ordinary people who do not understand about cryptocurrency, even there are many media that spread negative news or FUD about crypto. So, the advantages possessed by crypto seem closed and actually dangerous.

The government is still undeniable of the bitcoin's potentials to be a good currency, so it will never replace the fiat in the long run. However, crypto enthusiasts have always high hopes in bitcoin that it will be considered as a global currency in the future, but in reality the real picture is bitcoin is just starting to prove to the people that it can be better as fiat. And as long as the government will continue to be in its opposition, the people will never start to trust and see it as a currency far better than fiat.

[Botnake]

I dare not say bitcoin is better than fiat currency, it is true that bitcoin is not controlled by any party and cannot be controlled by the government even state banks cannot regulate bitcoin, we are also free to invest wherever we want with bitcoin, but.the problem is bitcoin is still banned in many countries, even in the country I live in, we can't use bitcoin as a medium of exchange, in the country I live all shopping must use fiat, we can't go anywhere without holding fiat money...

That is definitely true to majority of the countries. We can only use bitcoin if there is an agreement between the merchant and the bitcoin owner, but beyond that, bitcoin will not be used as a medium of exchange. But if you can go to El Salvador, you can have all the chances to spend your bitcoin there as bitcoin is considered a legal tender there. Hopefully, we can also consider Russia as another country to accept bitcoin too if the said proposal will succeed.

[arwin100]

Ideally, it should be yes, especially in cryptocurrency we can control it by ourselves, not by big powers like the world bank or the government.
However, in practice, this is not the case.
Because basically this is still considered new technology, there are still many pros and cons, there are still many ordinary people who do not understand about cryptocurrency, even there are many media that spread negative news or FUD about crypto. So, the advantages possessed by crypto seem closed and actually dangerous.

The government is still undeniable of the bitcoin's potentials to be a good currency, so it will never replace the fiat in the long run. However, crypto enthusiasts have always high hopes in bitcoin that it will be considered as a global currency in the future, but in reality the real picture is bitcoin is just starting to prove to the people that it can be better as fiat. And as long as the government will continue to be in its opposition, the people will never start to trust and see it as a currency far better than fiat.

Politics and business is one of the reason why government cannot adopt bitcoin fast since if they do that for sure there is a big sector like financing or banking system might get hit on this if government will give good acceptance on bitcoin that's why they didn't give any good impression on it to protect their own interest. So lets just hope that government will find bitcoin really worth to be a good option as currency since it can change some things in economy and lives of the people.

[dataispower]

it is good for investing but not for transacting, because the price is not fixed so we as owners can feel a loss if bitcoin is in a period of correction,
and I'm not sure all countries accept the existence of bitcoin cs,  into their government, because fiat is easy to regulate even though it always results in inflation

Not all the countries accept Bitcoin because some of the country don't trust investment for digital currencies, people that have double minded to invest on cryptocurrency is people that have not known the values, so Base on inflation Bitcoin don't have official regulations like fiat currency, the inflation of fiat currency come from the centralized governance of government why the regulation of bitcoin come from the market situations of demands

[KennyR]

Fiat money is something that is valued out of its backing. The backing can be bonds, gold or can be some assets. With bitcoin, it is said that the value is generated out of thin air. This can be kind of mocking, but there is some backing technology that makes it more powerful than the printed money. In every country Black money is a big problem, people accumulate fiat and never spend it. This fiat can't be traced, with bitcoin these issues can be easily solved. If a huge amount has got accumulated taxation can be done accordingly tracing the user. This is little complex, but anything is possible with technology.

[Hypnosis00]

I'm not going to say it was a better option over fiat as even we go in different places, fiat money is highly acceptable than the use of Bitcoin. Maybe this happen many years from now if major countries and establishments are accepting Bitcoin, not today.

In fact, here in my place, I'd never enjoyed using it, I still converting it to fiat money. Just for now, Bitcoin for me is totally considered as an investment, not a currency to buy things. I'm just looking forward to being accepted in our country like fiat, I'm not hopeless anyway as seeing the adoption is growing.

[uneng]

Even though bitcoin isn't widely accepted in most countries and by most sellers, it is still a much superior alternative when compared to fiat.

The fact bitcoin fights back inflation efficiently is already a good reason to consider bitcoin a viable currency for every aspects of daily life or long term goals.

Unfortunatelly most people can't see how they can be benefited by adopting bitcoin, so they don't create demand for it on the market, what doesn't incentivize sellers to also accept btc as payment method on their shops.

And then we have this situation related by many, which doesn't allow them to use bitcoin as currency on their countries.

[nurilham]

I think both Bitcoin and fiat have their advantages and I'm not sure if the government will accept Bitcoin or other crypto better than fiat. We know that Fiat becomes the main currency of a country and it will be difficult to shift it. Although Bitcoin is increasingly known by the public but not everyone can accept it compared to Fiat. Personally, I prefer Bitcoin but I can't leave fiat either. I mean both can be used together and Bitcoin will be better for investment not for transactions even though Bitcoin is supported by advanced technology but still it can't displace Fiat in a country.

[tippytoes]

I think both Bitcoin and fiat have their advantages and I'm not sure if the government will accept Bitcoin or other crypto better than fiat. We know that Fiat becomes the main currency of a country and it will be difficult to shift it. Although Bitcoin is increasingly known by the public but not everyone can accept it compared to Fiat. Personally, I prefer Bitcoin but I can't leave fiat either. I mean both can be used together and Bitcoin will be better for investment not for transactions even though Bitcoin is supported by advanced technology but still it can't displace Fiat in a country.

We can't say this same sentiment for other people. Because the population of crypto users is still very small as compared to global population. In my opinion, a lot of regular individuals still prefer fiat because they are more knowledgeable about it. With crypto, you can't expect everyone that they know how to transact with crypto. For most people, I think, they are still more comfortable dealing with fiat. Crypto has their pros and cons, so for crypto users already, we can always take this opportunity as an advantage to enrich ourselves in this industry.

[nur rochid]

I think both Bitcoin and fiat have their advantages and I'm not sure if the government will accept Bitcoin or other crypto better than fiat. We know that Fiat becomes the main currency of a country and it will be difficult to shift it. Although Bitcoin is increasingly known by the public but not everyone can accept it compared to Fiat. Personally, I prefer Bitcoin but I can't leave fiat either. I mean both can be used together and Bitcoin will be better for investment not for transactions even though Bitcoin is supported by advanced technology but still it can't displace Fiat in a country.

We can't say this same sentiment for other people. Because the population of crypto users is still very small as compared to global population. In my opinion, a lot of regular individuals still prefer fiat because they are more knowledgeable about it. With crypto, you can't expect everyone that they know how to transact with crypto. For most people, I think, they are still more comfortable dealing with fiat. Crypto has their pros and cons, so for crypto users already, we can always take this opportunity as an advantage to enrich ourselves in this industry.

the pros and cons come from the government which wants to maintain fiat because it can be controlled by the government. maybe at this time crypto is not relevant as a currency, but we don't know later if the situation develops, it could happen that crypto will have a place as a means of payment

[Peanutswar]

In fiat the countries have their own coin which is needed for their transactions and economy still it has an impact if the price or the value of it might go down sees that the government must need to take an action on it. Also the reason too why the government would like to use fiat than cryptocurrency of course they don't have any control over it its decentralized the reason why they need to make a way to be centralised at the same time adopt the innovation. In my country, they created an exchange also a centralized wallet to manage the transaction of each user.

[Viscore]

I wouldnt compare fiat money and bitcoin, because both of them are useful in some different ways. Both are essential need to survive during this days..

Bitcoin can be used as an alternative payment (remittance), storage of wealth and gonna also use for investment and trading. While fiat is used to purchased our daily needs or used for day to day transactions, paying bills and etc.

[KaliLinux]

it is good for investing but not for transacting, because the price is not fixed so we as owners can feel a loss if bitcoin is in a period of correction,
and I'm not sure all countries accept the existence of bitcoin cs,  into their government, because fiat is easy to regulate even though it always results in inflation

I do agree with you on that and not only during market correction but because of that volatility when you spend Bitcoin on depreciating assets, it seems like you have waisted that amount of Bitcoin cos I remember a post some week ago about some investors buying an iPhone with Bitcoin and even when most think it was good news that Bitcoin was been accepted in many retail shops now but most believed that asset has a depreciating value compared to Bitcoin so, Fiat is still good in terms of daily transactions while I do appreciate my Bitcoin more as an Investment. 

[michellee]

Personally, I think bitcoin is better than fiat currency for investing not for transactions, because there are certain countries that don't accept exchanges that do bitcoin, like in my country bitcoin can't buy anything, in contrast to El Salvador, which has..legalized bitcoin, and already accepted bitcoin as a legal currency..

I think I agree with this because some countries will not accept bitcoin as a payment system as they already trust their fiat but can accept bitcoin as an investment instrument. That will help people buy bitcoin, keep it in their wallets, and only sell when they need money. I think it will be better for bitcoin in the country, and I think that will not break some country regulations that there is no other payment system than their fiat. We can not even force the government to accept bitcoin as a payment system, especially if they do not have a plan to add bitcoin shortly. Maybe they will change their minds and accept bitcoin in the future.

[jamkesmas]

it is good for investing but not for transacting, because the price is not fixed so we as owners can feel a loss if bitcoin is in a period of correction,
and I'm not sure all countries accept the existence of bitcoin cs,  into their government, because fiat is easy to regulate even though it always results in inflation

it won't be easy bitcoin Replacing Fiat Money.
Fiat money is a legal tender and will always exist and cannot be replaced. Fiat money is easy to regulate and has become a basic thing in the country even though inflation often occurs.
  all countries do not agree with bitcoin only a few countries agree with bitcoin even though a small part is only for investment assets not for legal payments. Bitcoin in my opinion is vulnerable to money laundering and corruption because it is not easy to trace. and this is a fatal thing in the state that must be avoided.

[jhonjhon]

I would say bitcoin is better in some many ways compare to fiat currency. We can use bitcoin as a form of money,purchase goods and services, remittances, basically the same way we use fiat currencies today. And also we can use it as a storage of wealth and investment.
Unlike fiat money, we can only used it to pay our daily needs, bills and taxes. Bitcoin is harder to lose than fiat money because it is digital.

[Renampun]

As most of you know in this forum, bitcoin has more advantages over fiat money. fiat money is under the control of governments. With fiat money, we do not have 100% control over our assets. But Bitcoin is not like that and we can freely trade it anywhere in the world without the control of third parties. However, Mexico's third wealthiest man ^{(Ricardo Salinas Pliego)} agrees with us and said in a recent interview:

"Government intervention has always been a factor in setting the gold standard," Salinas explained. "And fiat enables infinite financing."

So as you can see, Ricardo Salinas Pliego has come to the conclusion that bitcoin is a better alternative to fiat money.

Will governments and important people reach this conclusion this year? _{(I think these events could cause BTC to cross the 36,000 channel)}

Source: https://www.btimesonline.com/articles/153553/20220204/ricardo-salinas-pliego-mexican-billionaire-bitcoin-fiat.htm

I like this person's thinking, big respect to him...

the controversial line I like about him is when he says "fiat is the biggest scam". it is not easy for a businessman who still relies on a state regulation to say that but he dares to firmly say it, he must be ready with the possible sanctions that will be imposed on him, trully brave man.

[im posible]

Will governments and important people reach this conclusion this year?

For this year, maybe not, especially the government which in many cases is the biggest opponent of bitcoin because of its freedom so maybe the government will lose its power over the people's economy. Maybe one day if the government has found a way to still be able to benefit from the presence of bitcoin from a power point of view they will think the same thing as above.

[Cryptmuster]

Bitcoin is always a better option because to be honest there's no rewards when it comes holding fiats and even you make investment you cannot get good return from it., unlike bitcoin wherein despite of being so volatile you can assure that at the end of the day you can make massive profits in it especially if you hold it for long term as it keeps improving and getting matured because of adoption..

Yes, that's right, bitcoin always rises in price in the long run, but you need to choose the time to buy it, because if you buy when bitcoin is at its ATH, then you will have to wait for profit much longer than if you bought it at the time of the market subsidence. Buy low - sell high, a simple tip that can help you become wealthy faster.