Bitcoin Vs Cash which is more secure

[Zilon]

Cash payment is done offline, when spending with paper money no real identity is needed. A buyer can spend their currencies without the bank coming into the picture, no name required because the receiver doesn't need the name of the buyer for transaction to be completed. Bitcoin does hide identity but it is not completely anonymous. Despite Bitcoin not requiring identity to own some coin and spend them the public ledger reveals every transaction on different bitcoin block explorer and as such merge transactions of a particular wallet together and can lead to one's identity been revealed if caution isn't taken.

Where the limitation of cash payment come in is where it involves distant transaction, one that cut across distant boarders and bulky transactions that will seems risky to move with cash. Credit cards over the years substituted for this but we sold out our identity in exchange to execute our transactions using cards that got our full information tied to.

Bitcoin on the other hand doesn't work in an offline manner. But the advantage it has is no central server is required but a peer-to-peer network keep the ledger trusted and immutable which is the only way to provide a data that cannot be tempered on nor nullified since every transaction that goes into every block is confirmed by participating nodes.

Why will Bitcoin remain most preferred over every other traditional payment option including cash is thus:

CREDITCARD	CASH	BITCOIN
Not anonymous	Anonymous	Pseudonymous
Distance transaction	Local transaction	Boarderless transaction
Central Sever	No server needed	A p2p server needed
Smart Spending	Risky Spending	Smarter Spending
Funds hardly noticeable	Bulky Sums obvious	Not Noticeable since it has no physical form
Can be Compromised	No compromise	Fully trusted

Cash transaction would have been a perfect option for 100% anonymous transaction but it cannot be sent to some one who is afar off. Bitcoin stands out as the perfect option not as an anonymous tool but as a private coin with no central server.

[1714244559]

1714244559

[1714244559]

1714244559

[1714244559]

1714244559

[1714244559]

1714244559

[tadamichi]

Cash has counterparty risk, while Bitcoin doesnt. It cant really compete with Bitcoin in long term security, because theres no security mechanism to prevent cash from getting inflated, getting replaced by new currencies or being taken out of circulation by policies for example. This is the bigger flaw of cash in terms of security, which basically makes it an insecure store of value.

[Fivestar4everMVP]

Cash transaction would have been a perfect option for 100% anonymous transaction

Sorry but how is cash transactions anonymous? Except if the cash you are referring to here is not the physical cash we spend, that is otherwise known as fiat,  then I would like to know the type of cash you are referring to as anonymous, because to me, cash transactions are nothing near to being anonymous.
Cash and credit/debit card transactions are the most centralized form of transactions, anything centralized is not anonymous...
This is my opinion though.

but it cannot be sent to some one who is afar off.

Fiat, otherwise known as cash can be sent to people or some one afar of, through western union, money gram and the likes, the down side is that, it is highly centralized, takes days if not weeks and months before the receiving party gets the package, and it also cost alot in fees as well.

Bitcoin stands out as the perfect option not as an anonymous tool but as a private coin with no central server.

Yeah, I agree with you on this one, bitcoin is a decentralized currency and payment system, highly efficient and absolutely secure and boarderless

[hatshepsut93]

Cash transaction would have been a perfect option for 100% anonymous transaction but it cannot be sent to some one who is afar off. Bitcoin stands out as the perfect option not as an anonymous tool but as a private coin with no central server.

The conclusion is actually more complex than that. Each payment method has its pros and cons, and different users have different requirements. For some privacy is critical, for others its not a concern. A drug dealer has different concerns than someone who buys groceries in the nearest supermarket. Or things like being able to make transactions across borders are only a benefit if you plan to make such transactions.

Payment cards and cash still represent nearly all financial transactions because they suit the needs of people.

[drwhobox]

Fiat is fine for me as local transactions but when it comes to paying online I can not go for credit or debit cards. Shopping sites or other websites can read all my data. It doesn't make sense to me.
It is a relief that nowadays some of the big companies or shopping sites are accepting bitcoin and other coins as payments.

[dunfida]

Cash transaction would have been a perfect option for 100% anonymous transaction but it cannot be sent to some one who is afar off. Bitcoin stands out as the perfect option not as an anonymous tool but as a private coin with no central server.

The conclusion is actually more complex than that. Each payment method has its pros and cons, and different users have different requirements. For some privacy is critical, for others its not a concern. A drug dealer has different concerns than someone who buys groceries in the nearest supermarket. Or things like being able to make transactions across borders are only a benefit if you plan to make such transactions.

Payment cards and cash still represent nearly all financial transactions because they suit the needs of people.

This is totally true or fact which they do really represent out pro's and con's when it comes to payment structure or utility overall.There are indeed people who do really value anonymity and there are ones
who doesn't really care since fiat and other typical digital transactions could really do the job, which it isnt really that already necessary for them on using up other payment methods.
There are people who do also making some switch up in between and just like you said where it would be totally depending on what you do need on particular situations
or transactions.You are the ones who would be finding out on which one is better and which one is not.

[Vaskiy]

The term secure holds different meaning with fiat and with cryptocurrency. Based on the fact, fiat is secure in one way and cryptocurrency in the other way.

For users who wants the cash to be under their control, bitcoin is the best choice against fiat. For users who doesn't care of someone having control over our funds this isn't an issue.

Bitcoin is secure as it can't be faked whereas fiat can be faked and unlimited which makes it worse.

[Despairo]

What's the reason to differentiate between cash and credit card? both of them are same, cash isn't anonymous since they can track your money from your banks and when you want to trade with other people, they're already recognize who you're, your face and where you trade (by CCTV). It's very wrong to define cash is 100% anonymous, it's better if you learn what is anonymous first.

In short Cash and Credit Card is same since banks is the one who create it and it's centralized, while Bitcoin doesn't need any third party and decentralized.

[tbct_mt2]

Bitcoin is more secured than cash, fiat currency or CBDCs. With Bitcoin, nobody can control you IF you use a non custodial wallet with which you have private key / wallet seed and you can store your bitcoin safely; you are free to broadcast your bitcoins; you are free to use changed address, choose inputs for your transactions; you are free to choose fee rate for your transaction.

Most important, nobody can either seize your bitcoins in that wallet or steal it from you. Only you can have access to it and if you don't give up the access, your bitcoins is yours.

[Darker45]

There are a number of advantages and disadvantages to both Bitcoin and cash. One cannot entirely replace the other. Perhaps you could add that with cash, you can spend it literally anywhere anytime. That's not possible with Bitcoin. But the problem with cash is that it is always gradually losing value. That's not the case with Bitcoin. This is the main problem with cash, the embodiment of fiat. Moreover, there's also the issue of counterfeit bills and coins. There's no counterfeit Bitcoin.

[1miau]

Each of it has benefits and disadvantages. I would say it depends on how you care for it and where you need it.
For example if you would (and could) make payments for daily purchases it's quite different than storing value for your savings.
Of course, cash is more suited as a currency while Bitcoin is more suited as a store of value.
There are still some unforseen issues which can affect Cash and / or Bitcoin but in general I would say Cash is better for purchases and Bitcoin is better as a store of value.

[Minor Miner]

Although many people say that cash has a lot of limitations and should not be used, I see fiat and bitcoin both have their own use cases, pros and cons of each. Cannot say that bitcoin is the best, is all we need and government cash is useless. Bitcoin was born and ushered in a new era, one that allows us to respect our privacy but not so that we forget about fiat and start vilifying it. We should remember that we have been using it for hundreds of years and it is still our main daily trading tool. Fiat depreciates over time, but that doesn't mean it will die or become completely useless. The best way is that we should balance both and use according to the most suitable cases to bring high efficiency and convenience.

[Reatim]

do we really need to compare these two about which is much secure?


Bitcoin(cryptocurrency) is the safest , this cannot be taken from us unless we don't know how to handle it , while Cash can easily be taken , even banks and Vaults being  broken and take our funds out.


Bitcoin is the best answer.

Fiat is fine for me as local transactions but when it comes to paying online I can not go for credit or debit cards. Shopping sites or other websites can read all my data. It doesn't make sense to me.
It is a relief that nowadays some of the big companies or shopping sites are accepting bitcoin and other coins as payments.

so it is Bitcoin that is safe comparing to other.

[witcher_sense]

Bitcoin combines the advantages of credit cards while providing relatively anonymous transactions free of the influence of undesirable intermediaries like physical cash does. With bitcoin, it is possible to make fast, borderless, censorship-free payments in the most secure and trustless manner, and, what is more important, bitcoin is barely susceptible to the influence of financial manipulators of the traditional world. Unlike physical cash. The main reason physical cash is less secure than decentralized currency such as bitcoin is that it is still money issued and controlled by the government. The government can't effectively track your cash transactions, but it can control those transactions remotely via different regulations, limitations, and draconian measures. They can dictate the price of your cash because they are in power to manage the economy via printing. They can dictate which goods and services you are allowed to pay for with physical cash: people who accept cash in illegal transactions are risking to find themselves in jail, which is why they will prefer either credit cards or their substitutes also fully controlled by governments. It all doesn't sound very secure, at least not for continuous payments.

[Findingnemo]

Let's put the credit card away because its actually the money we spent we actually don't own so its like interest free loan.

Comparing cash and bitcoin in security then definitely bitcoin is highly secured cause its irreversible, can't be duplicated, no Central authority to make changes also there is no hidden fees.

With cash you can spend almost anywhere but only in the country because its not going to be accepted as currency in another country and as security someone can easily steal your physical wallet and take all your money which is not possible with bitcoins.

[kryptqnick]

As the op correctly points out, there are pros and cons for both cash and Bitcoin, and I'd say a lot depends on the needs of a person and factors taken into consideration. If it's for everyday purchases like groceries, local transactions are enough. Cash is also, unfortunately, sometimes almost a must if you are in a place where digitalization didn't quite kick off or where it's temporarily at risk because of power shortages or something like this. Also, while Bitcoin is borderless, let's not forget that it's also usually not accepted as payment, so it's not very helpful that you could use it if you actually can't. At the same time, if a person has some savings and doesn't want them to become devaluated, I'd say Bitcoin is better than cash (if you're okay with waiting for perhaps a couple of years) because cash is steadily losing value (inflation) and in times like the current recession, it can lose much more than usual, without bouncing back.

[Cookdata]

Bitcoin is a smart way of spending, however, the manner in which some people spend bitcoins doesn't differentiate them from cash like they spend bitcoin on exchanges and get verified with exposed privacy, which breaks the purpose of bitcoin. To spend smartly, privacy must be preserved to the minimum level otherwise, I don't see the reason why use Bitcoin in the first place.

Cash has counterparty risk, while Bitcoin doesnt. It cant really compete with Bitcoin in long term security, because theres no security mechanism to prevent cash from getting inflated, getting replaced by new currencies or being taken out of circulation by policies for example. This is the bigger flaw of cash in terms of security, which basically makes it an insecure store of value.

The frequent unexpected volatility is what bothered me with bitcoin as a means of payment, cash is prone to inflation while Bitcoin is not but volatility remains an issue. Bitcoin is more of a store of value than means of payment in my opinion, though I can't deny its merit of instantaneous payment.

[Zaguru12]

Comparing cash and bitcoin in security then definitely bitcoin is highly secured cause its irreversible, can't be duplicated, no Central authority to make changes also there is no hidden fees.

It's irreversiblity can actually have a con as a payment method during purchase at shops. Say a bad purchase is done and a refund is needed then this could only be done manually creating extra work for the shop keeper if there many refunds to be done.

But generally bitcoin inflation hedge or it been a store of value makes it edges over cash. And against credit card it's low transaction fee makes more preferred

[stompix]

Cash transaction would have been a perfect option for 100% anonymous transaction

Sorry but how is cash transactions anonymous? Except if the cash you are referring to here is not the physical cash we spend, that is otherwise known as fiat,  then I would like to know the type of cash you are referring to as anonymous, because to me, cash transactions are nothing near to being anonymous.

Cash as in banknotes and metal coins.
How is cash not anonymous?
Do the bill you hand over to some grocery store carry your name on it? Are they registered with your name in some database? Can someone looking at a bill track you or see how many $ you had in your wallet 10 years after you made the purchase?
So, what aspect of handling cash do you think is breaking your privacy and revealing personal details to others?

Comparing cash and bitcoin in security then definitely bitcoin is highly secured cause its irreversible,

And cash is not?

[BlackHatCoiner]

BITCOIN
A p2p server needed

Not sure what you mean here. Nodes are indeed required in a peer-to-peer network. Obviously. But, you make it sound as if a central server is required to process payments. "p2p server" rather makes little sense.

BITCOIN
Smarter Spending

Don't get you here neither. What's smarter in spending bitcoin, and in comparison with what?