Take bitcoin as the virtual currency, that perform better than physical currency

[Odusko]

Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies.
Why I create this thread is to define the role of decentralized digital currency like Bitcoin as an alternative currency in the economy, and to dispute the claim by some Bitcoin haters that discard Bitcoin as a none physical represented currency and only exists on the Internet.
But Bitcoin has out performed most physical currencies such as the dollars and the rest of other centralized currencies. Due to the decentralized nature of Bitcoin it allow bitcoin to be use anywhere and at any time without any restrictions.
Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

Note: this explanation was born out of my own personal experience, and i hope others here will share similar experience too!

[romero121]

There is no doubt, bitcoin have performed well against other physical currencies. At the beginning people feared and have a different opinion over bitcoin as an asset developed for the purpose of gambling and illegal transactions. With time people started to accept the true value as the price of bitcoin started to grow.

Inflation is experienced all around, and people are moving much towards cryptocurrency. Some banks out of bankruptcy doesn't allow people to withdraw their own money in the bank. Bitcoin have served as people's own bank securing our holdings.

[Eternad]

The problem is Bitcoin price keeps growing overtime due to its deflationary supply feature. Bitcoin can be categorized in different type based on user perspective. It's very hard to use a currency that has an unstable value to replacedthe current currency we are using right now. For me Bitcoin is best to categorized as an asset and not pure currency since its value is increasing like Gold over time but Bitcoin has an advantage since its supply is limited while Gold, Fiat and other precious metal has an unlimited supply.

[Piesel]

What I love most about Bitcoin is that Bitcoin is the best alternative to centralized currency and the government financial system, and also Bitcoin can be held as an asset. So even though Bitcoin does not have a physical value its digital value is still a.high against other assets in the exchange market.

That is why, Bitcoin is referred to as digital gold since Bitcoin have increased in market capitalization in recent time, and also the rate of Bitcoin adoption is also on the increase, bitcoin serves as the best alternative in both currency and assets.

[Dunamisx]

Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies

Let consider bitcoin impact within it first thirteen years to other currencies, take a look at it market capitalization as well, i got an article some times back that also talks about the most googled word on the internet is bitcoin and in no doubt it has been the only branded name across the universe that everyone soughted after, why is because it offers something new than we've been experiencing right from time with the management and handling of finances from being centralized

[sunsilk]

It's true that bitcoin has performed well and better than the other currencies that we've got. I guess that soon we'll be done with the comparison of bitcoin and fiat because there will be the CBDCs and there's also the stable coins that serves the same thing as the native currencies that we have.

As the time passes, bitcoin has been considered to be the best asset that one can own and as a store of value.

Needless to say, when someone understands bitcoin, he's in the know about that it can be used as a currency or as a store of value / investment / asset.

[milewilda]

It's true that bitcoin has performed well and better than the other currencies that we've got. I guess that soon we'll be done with the comparison of bitcoin and fiat because there will be the CBDCs and there's also the stable coins that serves the same thing as the native currencies that we have.

As the time passes, bitcoin has been considered to be the best asset that one can own and as a store of value.

Needless to say, when someone understands bitcoin, he's in the know about that it can be used as a currency or as a store of value / investment / asset.

We might really be that too positive or optimistic on what Bitcoin had given out or when it comes to utility but we cant really that ignore the fact that fiat does still have some upperhand when it comes to various conditions or situations which Bitcoin couldnt able to do so but at least we do really have that option in choosing between.You could really able to see its significance when you do have the experience on both
using fiat or Bitcoin.You would eventually find for yourself on hows it would be that sensible or recommended on such transactions.Some do really mind off about anonymity and decentralized aspect
but there are some who do still get convenient when it comes to fiat function.So it does matter on when you would really be making some switch up.

[hatshepsut93]

Performs better than fiat currency in terms of price, but not in terms of adoption, price stability, utility. This make Bitcoin closer to assets like gold than a currency for regular use.

Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

It may be nice to have you currency also act as an investment, but the best way to store your wealth is in a diversified portoflio of different asset types - stocks, bonds, gold, bitcoin, real estate, foreign currency and so on. It's not a great idea to have a million dollars in your bank account and just watch it getting eaten by inflation, but it's also not a smart move to put it all in Bitcoin and risk losing a big portion of it. Don't put all your eggs into one basket.

[Welsh]

To be fair, comparing a currency which has recently launched i.e a bit over a decade, and a currency which has been around for a very long time isn't exactly fair. It would be best to wait a while, and compare it once everything has settled down. Usually, prospective investments whether that be stocks or Bitcoin tend to have massive inclines, and declines at the beginning, as people are still feeling them out.

Obviously, Bitcoin is designed this way too, and while the idea is it should be deflationary over time, and therefore already suggesting it will perform better than any other currency which is inflationary, that does remain to be seen, and confirmed. There's a lot that can happen between now, and then so I'm not counting my chickens yet.

[Smartvirus]

Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies.
Why I create this thread is to define the role of decentralized digital currency like Bitcoin as an alternative currency in the economy, and to dispute the claim by some Bitcoin haters that discard Bitcoin as a none physical represented currency and only exists on the Internet.

It's not about haters to define the digital nature of bitcoin and ain't no way that is connected to decentralisation or not having a physical representation. Of course bitcoin has no physical representation, being a digital currency but that haven't stopped it from playing its role I'm the economy.
One thing you got right is the fact that, bitcoin is an alternative currency. As an alternative currency, it should be used when the needs arises and I think that's what bitcoin holders and holders are doing. The lack of used cases as per merchants that accepts bitcoin is what have made it less rampant but the currency keeps striving to be known and continues to solve problems in our today society.

[GreatArkansas]

(....)
Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

This is one of many reasons or benefits of using Bitcoin. Bitcoin was created initially for payments. Another example I can give is money remittance, especially cross-country money remittance. There are some countries where you wire or send money to someone like your family to other countries, it will take some time and some huge transaction fees, so if we will just use Bitcoin, it is very convienient.

[Minor Miner]

... take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

Note: this explanation was born out of my own personal experience, and i hope others here will share similar experience too!

In this case, you are right but not quite right, assuming you use bitcoin as currency instead of fiat. It may be convenient because you don't need to prepare foreign currency when traveling, but have you taken into account the volatility of bitcoin? we know that bitcoin is volatile, and can even drop 20% to 40% in just a few days, how can you travel comfortably when your assets have almost halved in value in just a few days?
It is true that bitcoin has many advantages over fiat but in some cases fiat is still useful and beneficial to us. To me, bitcoin is more suitable as an asset or a commodity than as a currency.

[worle1bm]

The big thing I like about bitcoin and the reason for mass adoption is decentralisation and your funds are in complete possession of yours unlike the fiat currency which is under the central control and they can nip you anytime it making change in the policy.

But as said above we can't use btc openly at this time because not too many countries allow it's usage or merchants accepting it which is why btc is treated as investment source for long term by many and is being carried on the same way.

[hd49728]

If you are a crypto enthusiast, please stop calling cryptocurrency including Bitcoin as virtual currency.

Virtual is a term will make people fearful and worrying about cryptocurrency. They would think cryptocurrency is not real, because it is virtual. If you use word virtual, you are supporting governments and central banks which want to create as many barriers against cryptocurrency access as possible from knowledge, psychology to adoption.

I don't think it is right to conclude one is better than others. It depends on each situation you are in. In geolocation where you can not pay your expenses, buy anything with cryptocurrency, fiat (physical) currency is better.

Similarly, USD is a strongest fiat currency but it is not a best when you use in daily life. It's the best or not the best depends on where you use it.

[Mauser]

Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies.

It's true that Bitcoins came a long way from it's initial price of less than 1 USD, but these prices are long gone. Most of the investors we have in the crypto market today haven't been around in 2009. Me personally I only started with crypto currencies in 2016, that is why I think it's wrong to compare the prices we are seeing today with the prices over 10 years ago. Looking too far back into the past makes you feel bad that you haven't invested earlier in Bitcoins and somehow let' you hope that prices will fall again to a similar level to get a second chance to buy so cheap again. This second chance is not realistic and we shouldn't be hoping for it. It's better to look at the more recent prices of Bitcoins, we see that up until 2021 the price fluctuated around the 10,000 USD level. Comparing that to today it's still a pretty got development for any currency.

[slaman29]

You said this statement was born out of your own experience, but you didn't exactly mention specifically what that experience is. Would you care to share?

For me, it's really easy to talk about experience, and I still use Bitcoin practically on a daily basis. This isn't just about trading or sending like most people think but actually using it. Gambling for me

[yazher]

(....)
Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

This is one of many reasons or benefits of using Bitcoin. Bitcoin was created initially for payments. Another example I can give is money remittance, especially cross-country money remittance. There are some countries where you wire or send money to someone like your family to other countries, it will take some time and some huge transaction fees, so if we will just use Bitcoin, it is very convienient.

This is one of the conveniences bitcoins gave us nowadays because back then when you have talents like you are a good artist, you cannot make money with them unless you have bank accounts or something like that. But today, you don't really need that because you only need a crypto wallet and you can make money from the internet and they pay you with bitcoins. There is some situation where you really need to get your money from the banks but they refused because of some sort of problem. But when you have bitcoins, you don't need to worry about it anymore.

[bitmit.exchange]

I completely agree with you.
Bitcoin is not only going to replace centralized currencies like USD, but also commodities like gold. Gold is going to reach an end someday sooner or later.
When gold is done, BTC is up in the market and people will have to use it and invest in it.
Future belongs to blockchain technology and cryptocurrencies like Bitcoin and Ethereum. This is going to happen; whether we like it or not...

[CryptoHeadlineNews]

I don't think it is right to conclude one is better than others. It depends on each situation you are in. In geolocation where you can not pay your expenses, buy anything with cryptocurrency, fiat (physical) currency is better.

But in terms of reward of investment, you can't argue with me that Bitcoin hasn't done better than all these fiat currencies,  because if only a person had invested just $1 in Bitcoin far back in 2010, by today that $1 investment must have sum up to over a million dollars today. So that doesn't mean we are to eradicate fiat currencies, as we actually need them for our daily transactions in most places where Bitcoin isn't accepted

Similarly, USD is a strongest fiat currency but it is not a best when you use in daily life. It's the best or not the best depends on where you use it.

Yes, strongly agree with this point of yours, because thats the reason why the value of Bitcoin is pegged to dollar being the strongest global currency

[Piesel]

Bitcoin to fait transaction and holding comes with it diverse ups and downs that may hamper the total process as whatever time even 9both Bitcoin network and bank network rely on the internet to make transaction possible one still need to understand the peculiarity of both currencies.

While one serves as a primary currency that is accepted by all within a system,  the other which is Bitcoin serves as a better alternative to banks and without regional restrictions.

So both serve a very important purpose in the economy and for personal use.