Bitcoin Is A Better Option Than Fiat Money?

[stadus]

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..

No, you can't tell this reason to those who don't like the high risk of investing in bitcoin. So far bitcoin is for those of us who believe in its potential and who dare to risk its volatility to invest while for those who don't, fiat investments with low annual interest can still be considered. Bitcoin is too risky for them although it has never been a problem for those of us who know what its potential is in the long term.

Fiat investors may regret ignored bitcoin in their investment portfolio after seeing how the bitcoin price reached ATH. Good returns in the long term make them start to think at least not to ignore it, it has been done by some of the world's rich today.

This has been proven already when bitcoin made a quite number of millionaires particularly those early adopters, and most often those who take risk in long term hodling gained huge returns in life. So if fiat investors will be more open and accept the risk investing in crypto, they will also experience the massive profits that only crypto investors were able to experienced. Although there is no late in crypto, but if they keep missing chances, they will never be seeing huge returns from their investments.

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[Slow death]

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

[eaLiTy]

~
fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

There is advantages and disadvantages in both BTCitcoin and fiat currency, we need to balance them out and use accordingly and it a fact that there is no point in comparison. If mainstream payment mechanism does not work in certain aspects BTCitcoin is the only way you can conduct transactions and do business and there is nothing better than BTCitcoin to make online purchase when you are purchasing from a global marketplace.

[coolcoinz]

Fiat is not serving the same purpose as Bitcoin, which is more of a store of value, a kind of easily accessible investment, one of its kind. It's like gold, but gold you can actually take with you wherever you go and pay with it in case of emergency when you have to access your savings.
If you want examples of how it's better than fiat just read what happened to the money raised for protesters in Canada. The site stole them because it was centralized, so they begun raising money using bitcoin, because that can't be stolen by authorities.

[Xinarae*]

The fiat currency is a currency that is accepted as a legal tender by government regulators and the role of central banks in the economy has increased with the introduction of fiat money as it controls the printing of the currency controls the financing of the economy. Is printed, but it can cause hyperinflation. But for bitcoin it is completely different. There is no government control here everyone can work independently so bitcoin is definitely a good alternative to fiat easy to do illegal activity of fiat currency bitcoin's it is not possible.

[worle1bm]

You need to understand what purpose you are using bitcoin for and in what qualities you are comparing it to fiat money. It seems to me that bitcoin is now hard to be classified as a means of payment, it is more suitable as a means of accumulation. As long as almost everything in the world is counted in fiat money (dollars, euros), bitcoin is not going to be a convenient means of payment.

^That is what they are thinking now for those who have been adopting BTC, it is all about storing value just to make a profit and not just a mode of payment, probably there are some using this as a mode of payment but the majority are using this because of accumulation and while making profit through hoarding it and waiting for a good value comes. But I don't think BTC is a good option than fiat because for me they have pros and cons of each other that we should consider before deciding its functionalities. Both are useful for me.

There are two fundamental differences. Fiat money is always inflationary, while bitcoin is deflationary. That is why its value in fiat is always going up. But if you look at it as a means of payment, it is more convenient to use fiat, because, for example, in a year your purchase could be several times more expensive or cheaper than your current purchase. In general, bitcoin has to become a world currency, so that it is easy to use.

Fiat is easy to trade as it's the legal currency and accepted by all from a long time and it's value will remain the same for its whole life and the only thing that makes it inflationary is the rising inflation and government printing more similar notes to counterbalance it but in the turn making it worthless.But for Bitcoin to become world currency there needs to wide adoption and it still will not replace fiat completely and work as alternative to it.But for those who knows about btc it's best option to use as store of value and as payment processing also.

[fzkto]

You need to understand what purpose you are using bitcoin for and in what qualities you are comparing it to fiat money. It seems to me that bitcoin is now hard to be classified as a means of payment, it is more suitable as a means of accumulation. As long as almost everything in the world is counted in fiat money (dollars, euros), bitcoin is not going to be a convenient means of payment.

^That is what they are thinking now for those who have been adopting BTC, it is all about storing value just to make a profit and not just a mode of payment, probably there are some using this as a mode of payment but the majority are using this because of accumulation and while making profit through hoarding it and waiting for a good value comes. But I don't think BTC is a good option than fiat because for me they have pros and cons of each other that we should consider before deciding its functionalities. Both are useful for me.

There are two fundamental differences. Fiat money is always inflationary, while bitcoin is deflationary. That is why its value in fiat is always going up. But if you look at it as a means of payment, it is more convenient to use fiat, because, for example, in a year your purchase could be several times more expensive or cheaper than your current purchase. In general, bitcoin has to become a world currency, so that it is easy to use.

Fiat is easy to trade as it's the legal currency and accepted by all from a long time and it's value will remain the same for its whole life and the only thing that makes it inflationary is the rising inflation and government printing more similar notes to counterbalance it but in the turn making it worthless.But for Bitcoin to become world currency there needs to wide adoption and it still will not replace fiat completely and work as alternative to it.But for those who knows about btc it's best option to use as store of value and as payment processing also.

That's why I said it's not really correct to compare bitcoin to fiat money. The original idea was for people to use bitcoin instead of fiat money. But now things have changed and bitcoin has become a kind of digital gold after funds and big players entered the market. But bitcoin can save your money from inflation.

[Kasabus]

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.

[Westant]

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.

I will further tell in this case that it was also a time when gold was also a currency being used by all over the world and then with the introduction of fiat many people found it strange to use and some opposed it but then a time came when fiat was the only currency of the world. Now another transition may occur between fiat and bitcoin. We will enter in another time when people all over the world will use bitcoin as their currency.

[qwertyup23]

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

Many seemed to compare these two since both can be associated and used as payment for services. There is this comparison which is also similar to gold, where people would debate on which is better. The difference is, BTC is relatively easier to earn compared to owning gold.
Personally, fiat will always be the better option compared to BTC. Like what you have mentioned, the recognition and utilization of BTC is yet to be globally accepted, given that most countries still prohibit the transaction of such due to the risks involved on their part (e.g. anonymity on transactions, etc.).

Since fiat can easily be regulated and controlled by the government institutions, BTC on the other hand, cannot be regulated without losing its function and essence.

[romero121]

With the existence of bitcoin it has proven to the monetary system that infinite finance is a failure model. We people have been used to it, and it has provided users with the best service features.

The infinite printing of currency with gold backing makes the centralised system trustworthy against the technology backed cryptocurrency. Cryptocurrency and fiat have got advantages over the other, but with time the adoption only will give the answer whether bitcoin is a better option or the fiat will fulfill people with the features of cryptocurrency.

[Mauser]

I don't think we can give an absolute answer to that question. Both crypto currencies and fiat money offer advantages that we as consumers and investors should take into consideration. It also depends on our general financial situation if crypto currencies or fiat money are better. For example, the average person receives his monthly salary in fiat money. The loan for his car or house is usually also in fiat, same goes for paying taxes and other bills. In such a case I would argue that fiat money is the better option for him. He can invest some of his money into cryptos but since his obligations are mostly in fiat he should stay like that. However, if most of our income comes from crypto currencies than it's a much better option for us. If income and expenses are in different currencies, we face the risk of getting hurt during bear markets. As long as inflation is so high, the risk is small and crypto seems like the better option. But who knows what crisis we will face in 2022.

[Ozero]

I don't think we can give an absolute answer to that question. Both crypto currencies and fiat money offer advantages that we as consumers and investors should take into consideration. It also depends on our general financial situation if crypto currencies or fiat money are better. For example, the average person receives his monthly salary in fiat money. The loan for his car or house is usually also in fiat, same goes for paying taxes and other bills. In such a case I would argue that fiat money is the better option for him. He can invest some of his money into cryptos but since his obligations are mostly in fiat he should stay like that. However, if most of our income comes from crypto currencies than it's a much better option for us. If income and expenses are in different currencies, we face the risk of getting hurt during bear markets. As long as inflation is so high, the risk is small and crypto seems like the better option. But who knows what crisis we will face in 2022.

I agree with your arguments. It is impossible to directly say which is better, fiat or cryptocurrency. These are completely different financial assets, and each of them performs its useful role for society. At the same time, they cannot replace each other either.
Nor can it be argued that the national currency of states is an unsuccessful attempt at the existence of means of payment. With the correct and skillful work of the Central Bank and government agencies, cash and non-cash currency is an effective means of managing the economy and increasing the well-being of people.

[mia_houston]

That's why I said it's not really correct to compare bitcoin to fiat money. The original idea was for people to use bitcoin instead of fiat money. But now things have changed and bitcoin has become a kind of digital gold after funds and big players entered the market. But bitcoin can save your money from inflation.

The trend of using crypto or bitcoin has experienced a fairly rapid increase in the world, but even so the use of bitcoin is still limited as an investment and has not been fully accepted as a currency at this time, in my opinion, both fiat money and bitcoin have different functions as one of the valuable assets, but the existing regulations of course require us to continue to use fiat money as a transaction tool, but the need to store assets when inflation occurs may be more inclined to make bitcoin the prima donna at this time compared to fiat money, so I think it's better we no longer compare the two, because indeed both can be said to be important but clearly have different functions at this time.

[rozak]

That's why I said it's not really correct to compare bitcoin to fiat money. The original idea was for people to use bitcoin instead of fiat money. But now things have changed and bitcoin has become a kind of digital gold after funds and big players entered the market. But bitcoin can save your money from inflation.

The trend of using crypto or bitcoin has experienced a fairly rapid increase in the world, but even so the use of bitcoin is still limited as an investment and has not been fully accepted as a currency at this time, in my opinion, both fiat money and bitcoin have different functions as one of the valuable assets, but the existing regulations of course require us to continue to use fiat money as a transaction tool, but the need to store assets when inflation occurs may be more inclined to make bitcoin the prima donna at this time compared to fiat money, so I think it's better we no longer compare the two, because indeed both can be said to be important but clearly have different functions at this time.

however, the use of fiat is still very strong for now everywhere. Bitcoin's mere existence as an investment asset in most countries cannot possibly beat the popularity of fiat adoption.
Indeed, we know that currently there is news of several countries using bitcoin as a legal transaction tool. but I believe, fiat turnover is still very important in the country. we have not been able to escape from this ancient technology.

[acener]

For me yes it is better when you are just going to keep it,
But in terms of payment I still think that Fiat is still better than Bitcoin,
Most of us see Bitcoin as an investment tool not as a payment option.

[noormcs5]

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

I dont consider this advantages for the fiat money. Fiat money is controlled by the governments and they can print as money currecny as they want. They do provide the security and take responisbily of the currecny, but they never promise you for inflation free economy.  Bitcoin is volatile and have some little issues but these can be easily resolved once it is adopted by everyone. Government dont reconzinge bitcoins but who cares. They always want to make us slaves by controlling us and not providing the public with finicial freedom.

[Questat]

In terms of investment, I'm choosing bitcoin, but for the regular transaction, we cannot deny that fiat is more widely accepted compared to bitcoin, so we cannot just ditch fiat for bitcoin because it will not happen. The majority are still using fiat, and I don't see any possibility that bitcoin will surpass the popularity of fiat in the future unless we will shift into a decentralized world or government.

[Westant]

In terms of investment, I'm choosing bitcoin, but for the regular transaction, we cannot deny that fiat is more widely accepted compared to bitcoin, so we cannot just ditch fiat for bitcoin because it will not happen. The majority are still using fiat, and I don't see any possibility that bitcoin will surpass the popularity of fiat in the future unless we will shift into a decentralized world or government.

People are paying widely in fiat for their local purchases but many people like others to accept bitcoin for their purchases but they cannot because the retailers are not aware from this much and they do not accept right now. For international purchases crypto is used by people on all those platforms where it is accepted and people are happy with it.

[Oasisman]

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values ​​for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.

Not as soon as you think. Don't get me wrong I am all for Bitcoin as well, but fiat currency cannot be phased out. No matter how high the inflation rate are because there are still those who choose to use fiat currency as a means to access everything. Currently, we do not want to pay for a cup of coffee or a quick fastfood launch break using Bitcoin, because of the transaction fees and some people is too afraid that they might going to regret spending Btc at this current timeline.

I definitely would agree that Bitcoin and fiat currency could both co-exist for the longest period if time.