Given an option between Bitcoin and Fiat which do you prefer?

[Kasabus]

When you read deeper, maybe this is no longer a matter of choice. Because what you're looking for is safe, inheritable hedge storage. As we now know, third parties can be regulated in various forms or methods. For example storing the phrase seed in the SDB including fiat account wills at once. So I would choose both to balance ownership while maintaining fiat or Bitcoin value.

That’s a way lot safer. We can never guarantee that bitcoin will always be secure and stable, so we need fiat too so we can balance whatever wealth we opt to gain. For me, that’s more practical way of thinking than to stick with bitcoin because of its current high value. We don’t need to replace fiat for bitcoin, we need them both for  better security and stability of our ownership particularly in our finances.

[seoincorporation]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

The problem with bitcoin is still the high fees, I mean I you only want to spend $1 then doing it with bitcoin is not a good business because the transaction will cost more than the sent value. And the solution for this is to use a cheaper transaction coin like Dogecoin.

And to I'm not sure if bitcoin will be accepted as a digital legal tender worldwide, just because the government can't control it, and that's why they hate it. the "Be your own bank" movement is the way to fuck the governments, so, bitcoin is user-friendly but anti governments.

[Haunebu]

I prefer BTC, but I am dependent on both to different extents. I use FIAT way more when compared to BTC for obvious reasons, but I still prefer BTC over it primarily due to its decentralised nature.

FIAT is my first preference for payments while BTC is my first preference for short-term and long-term investments.

[Wexnident]

I hardly think it matters much in the short term, fiat would still be the primarily used payment method by the majority of businesses so no matter how much we hate its model or how weak it is in comparison to Bitcoin, we'd still use it for a lot of payments and whatnot. In comparison, if you don't mind the volatility and just want to stay away from banks, you can move the majority of your funds to Bitcoin and store it in a wallet. The majority is because as I said, a lot of payments would still involve fiat, so it's necessary to keep some for immediate use.

I'd welcome businesses accepting Bitcoin anytime though.

[Ozero]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

I don't think that the choice between fiat and bitcoin should be so tough. Without fiat, we still can not do. After all, even the price of bitcoin is valued in fiat. The national currency of the states as a whole is tied to the material values of the state, which may be in circulation. Therefore, no matter how much the cryptocurrency spreads, fiat will not disappear anywhere. States under no circumstances will not give up their national currencies. Cryptocurrency can only occupy a certain niche in the financial sector of the global economy and be a good alternative to the current fiat system.

[|MINER|]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

I don't think that the choice between fiat and bitcoin should be so tough. Without fiat, we still can not do. After all, even the price of bitcoin is valued in fiat. The national currency of the states as a whole is tied to the material values of the state, which may be in circulation. Therefore, no matter how much the cryptocurrency spreads, fiat will not disappear anywhere. States under no circumstances will not give up their national currencies. Cryptocurrency can only occupy a certain niche in the financial sector of the global economy and be a good alternative to the current fiat system.

I would agree with you as per the current situation, because fiat currency is currently ruling the world. But for the future the matter may be different, it is expected that Bitcoin or Cryptocurrency will take this place in the future. So currently both bitcoin and fiat currency are on demand. In the future Bitcoin will no longer be measured by any other currency, and that is why the world is slowly moving towards the realization of the slogan 1 btc equals 1 btc.

[Broadanbig]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

I don't think that the choice between fiat and bitcoin should be so tough. Without fiat, we still can not do. After all, even the price of bitcoin is valued in fiat. The national currency of the states as a whole is tied to the material values of the state, which may be in circulation. Therefore, no matter how much the cryptocurrency spreads, fiat will not disappear anywhere. States under no circumstances will not give up their national currencies. Cryptocurrency can only occupy a certain niche in the financial sector of the global economy and be a good alternative to the current fiat system.

I would agree with you as per the current situation, because fiat currency is currently ruling the world. But for the future the matter may be different, it is expected that Bitcoin or Cryptocurrency will take this place in the future. So currently both bitcoin and fiat currency are on demand. In the future Bitcoin will no longer be measured by any other currency, and that is why the world is slowly moving towards the realization of the slogan 1 btc equals 1 btc.

For sure it might be a different game in the nearest future as bitcoin will definitely gain more traction to sustain it's existence globally. As it is now fist is someworth powerful because it is the local and existing currency nation's uses as a legal tender but bitcoin is yet to be adopted by most nation's. However, both currencies are very much active and acceptable irrespective of the fact that bitcoin is digital and likened to be an investment currently which I know in the nearest future, it will be seen as a currency for means of exchange.

[Alpha Marine]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

Bitcoin is better than fiat but I'm part of the school of thought that believes that bitcoin and fiat should coexist. You don't have to choose between them at all times. Before buying bitcoin for the first time you need fiat. It's fiat you'll use to purchase your coins. Nothing stops me from using fiat in my day-to-day while using bitcoin as my store my asset. I don't believe the purpose of bitcoin is to replace fiat and I also bitcoin and fiat can coexist.

I honestly do not know how long it will take for bitcoin to be accepted as a digital legal tender globally but the good news is that bitcoin has made a lot of progress. A lot of people that that thought bitcoin was the next worst thing after cancer are beginning to see that they were wrong all along about bitcoin. A lot of misconceptions about bitcoin is being cleared out. It might be a while but at the rate we can be hopeful. It will also do us good to know that it may not happen in our lifetime.

[CryptSafe]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

Bitcoin is better than fiat but I'm part of the school of thought that believes that bitcoin and fiat should coexist. You don't have to choose between them at all times. Before buying bitcoin for the first time you need fiat. It's fiat you'll use to purchase your coins. Nothing stops me from using fiat in my day-to-day while using bitcoin as my store my asset. I don't believe the purpose of bitcoin is to replace fiat and I also bitcoin and fiat can coexist.

I honestly do not know how long it will take for bitcoin to be accepted as a digital legal tender globally but the good news is that bitcoin has made a lot of progress. A lot of people that that thought bitcoin was the next worst thing after cancer are beginning to see that they were wrong all along about bitcoin. A lot of misconceptions about bitcoin is being cleared out. It might be a while but at the rate we can be hopeful. It will also do us good to know that it may not happen in our lifetime.

It is true you have said as bitcoin and Fiat coexist. With fiat, you can buy bitcoin which means the two needs each other to exist. In reality, fiat is generally acceptable by government as they approved of it as a legal tender while bitcoin is still on course to get adoption approval from government while already accepted it as a means of payment. Although bitcoin since it's inception has been on a steady rise in popularity as many are aware of it and the acceptance is fast growing. Definitely, just as you have said, bitcoin would gain it's acceptance globally with time.

[S A KHAIR]

I prefer BTC, but I am dependent on both to different extents. I use FIAT way more when compared to BTC for obvious reasons, but I still prefer BTC over it primarily due to its decentralised nature.

FIAT is my first preference for payments while BTC is my first preference for short-term and long-term investments.

I would also choose both, I can't give up either, fiat is still very important and necessary. Without fiat, I wonder if we would be willing to use bitcoin everywhere? In my country, a cup of coffee costs only $0.40, and I don't want to pay another $1 in fees for my coffee transaction. In that case, with fiat, I don't have to pay any ridiculous extra fees.

[Mpamaegbu]

You opinions and thoughts are welcomed, let us discuss.

If I'm sandwiched between these two options and my country (Nigeria) has a liberal policy on cryptos (at the moment she doesn't have) and I can find vendors who accept Bitcoin or stablecoins, I would kiss fiat goodbye for good. Honestly, nothing compares to using Bitcoin to fiat. The convenience and ease that cut off middlemen is second to none. On occasions I did Bitcoin transfers to trading partners they were very convenient for me. I think a time will come when more people will see this aspect of Bitcoin and make that switch to its use.

[Woodie]

At this point it's not an option of preference to choose between the two, as I believe Bitcoin and fiat exist as compliments to each other as they both have different strengths that will be of use to us one way or another.

But we can't run from the fact that Bitcoin is still not widely accepted as a daily mode of payment like fiat is and if am to choose here,it will have to be fiat for its convenience.

I prefer BTC, but I am dependent on both to different extents.

I guess we are all going to pick BTC but couldn't have said it any better than you did  .

[stadus]

As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?

I don't think that the choice between fiat and bitcoin should be so tough. Without fiat, we still can not do. After all, even the price of bitcoin is valued in fiat. The national currency of the states as a whole is tied to the material values of the state, which may be in circulation. Therefore, no matter how much the cryptocurrency spreads, fiat will not disappear anywhere. States under no circumstances will not give up their national currencies. Cryptocurrency can only occupy a certain niche in the financial sector of the global economy and be a good alternative to the current fiat system.

Correct! Why would you guys crack your minds just to answer this kind of question, of course, both are important and choosing which one of this is more important or preferred possession is not like we're choosing what to eat in breakfast. It's not like that.
Bitcoin has its own reason why it is important to us today, for most, bitcoin will be give us a certain hedge against inflation and as a form of investment. We can't just take out fiat and let bitcoin rule the whole currency.

[Yatsan]

This is reality check.
I bet most of the people here would still prefer using fiat on daily transactions and will just use cryptocurrencies as a mode of payment on big transactions to avoid taxes. But on a regular basis, people in this industry will make use more of this industry for investment purposes which is not a bad thing to do especially if in such way they'd be make use more of the potential from this blockchain.Using it on small transactions will jist put an individual into guilt from doing so. Most of the people here would be seeking for profit more than essence of this industry as an alternative mode of payment. Considering preferences, some would say they're more interested with using cryptos due to its profit potential and not because of the convenience it gives to users.

[Gyfts]

BTC is unlikely to become legal tender around the world as governments in many developed countries are now creating their own CBDCs. They’ll promote their CBDCs and hold back mass adoption of BTC.
But that doesn’t mean that people and companies themselves won’t want to accept and pay for many goods and services with BTC. Only in most cases it’ll be done through conversion to fiat (or CBDC), as before.

I'm amazed how many people think "legal tender" status is supposed to be the barrier to entry for crypto when legal classification could not be any less relevant than it already is. Legal classification of "legal tender" is the government's endorsement of currency. It means nothing more. Should you incur debt by the government, you're due to pay them currency that's deemed legal tender. That does not stop P2P transactions. Most transactions are not done with the government anyways, so we don't necessarily need Bitcoin to hold legal tender status. It's not like the government would bother entertaining the idea to begin with.

[n0ne]

This is reality check.
I bet most of the people here would still prefer using fiat on daily transactions and will just use cryptocurrencies as a mode of payment on big transactions to avoid taxes. But on a regular basis, people in this industry will make use more of this industry for investment purposes which is not a bad thing to do especially if in such way they'd be make use more of the potential from this blockchain.Using it on small transactions will jist put an individual into guilt from doing so. Most of the people here would be seeking for profit more than essence of this industry as an alternative mode of payment. Considering preferences, some would say they're more interested with using cryptos due to its profit potential and not because of the convenience it gives to users.

That's the reality. Even now people who enter the cryptomarket doesn't have the understanding about the technology and technology its core of eliminating third parties. Based on the growth it have achieved in the short time period people are much interested and investing into it. Very few prioritise for regular transaction needs and spending with it. To get the choice as an alternate to the fiat system it takes time and people should learn more about it, because people are more convenient with the traditional payment system even though there is flaws.

[CryptSafe]

This is reality check.
I bet most of the people here would still prefer using fiat on daily transactions and will just use cryptocurrencies as a mode of payment on big transactions to avoid taxes. But on a regular basis, people in this industry will make use more of this industry for investment purposes which is not a bad thing to do especially if in such way they'd be make use more of the potential from this blockchain.Using it on small transactions will jist put an individual into guilt from doing so. Most of the people here would be seeking for profit more than essence of this industry as an alternative mode of payment. Considering preferences, some would say they're more interested with using cryptos due to its profit potential and not because of the convenience it gives to users.

You are right mate. Most of the comments here are pointing towards what you have said. You see, as Crypto is volatile that makes most people see it as a means of investment and as you have said it, some people mostly use it for payment which involves huge amount and mostly in avoiding or evading task payment for the transaction they have done. These days, Crypto currencies are seen as investment because of the potentials of making profit so not every one is comfortable spending their Crypto most especially bitcoin for trading in the name of small trade which fiat can be able to cover. Most people like it that way as they would not not be charged any fee as task for the transaction they have done.

[MinMan]

When you read deeper, maybe this is no longer a matter of choice. Because what you're looking for is safe, inheritable hedge storage. As we now know, third parties can be regulated in various forms or methods. For example storing the phrase seed in the SDB including fiat account wills at once. So I would choose both to balance ownership while maintaining fiat or Bitcoin value.

That’s a way lot safer. We can never guarantee that bitcoin will always be secure and stable, so we need fiat too so we can balance whatever wealth we opt to gain. For me, that’s more practical way of thinking than to stick with bitcoin because of its current high value. We don’t need to replace fiat for bitcoin, we need them both for  better security and stability of our ownership particularly in our finances.

As long as more people are supporting Bitcoin, its network will always be secure but Bitcoin never became stable as it was a volatile crypto. If you mean that it's value will crash hard, I don't think it's possible but only the opposite is going to happen the longer the Bitcoin exists because its supply is declining while the demand or the adoption is only getting stronger. Fiat can still be needed in order to buy more Bitcoins and they can be used just in case there is no internet around and we can't use our Bitcoins. On many places, Bitcoin isn't a legal tender yet so fiat will still be the one that we will be using whenever we are making a purchase of something.

[Findingnemo]

First of all the value of Fiat is not stable, it is decreasing day by day all the time and you can realise it if you understand what is called inflation. But for the convenience of us we still prefer the paper so called money including myself but if there is a day where I can buy anything I wanted with bitcoin just like spending fiat then I will use bitcoin.

The savings and investments are not relevant to this because either its fiat or cryptocurrency, we need to have the knowledge about saving it then multiply it then keep letting it grow forever.

[serjent05]

I won't be a hypocrite here.  I will take both  .  I need fiat for daily expenses.  Bitcoin is indeed wonderful but at the moment I will starve if I don use fiat money to buy my basic needs for survival.  If there is a local marketplace at accepts Bitcoin then by all means I will choose Bitcoin over fiat.  But the fact that adoption of Bitcoin isn't that spread out where I can use Bitcoin anytime, anywhere to buy foods, I am still trapped in accepting Fiat. 

So until I can spend Bitcoin to buy food in my local stores and supermarket, I prefer both fiat and Bitcoin.