considering the advantage of Fiats over Cryptocurrencies

[ColdLava40]

The advantage fiat has over crypto is usability, most elderly persons and illiterates will have difficulty in interacting with crypto and securing their wallets.

A very key point you just mentioned, which the opposite term should probably be acceptability. Definitely, everyone can use the US dollar, but it would now depend on who chooses to accept it. The fiat of a particular country is acceptable in every part of that country but might not be accepted in other countries except with the intervention of the bank were exchange is been made.

People will accept Bitcoin but they also cannot leave fiat currency because that is used for purchasing daily objects. I think that both have its own importance and we cannot ignore the importance of any of these but we have to take advantage of both according to its uses.

Both of them are quite unique in their own way. Bitcoin gains value by accumulating in price but fiat doesn't.

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[Synchronice]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

Who says that Bitcoin is the ultimate solution to every problem? If someone says that, they are spamming. Bitcoin simply a peer-to-peer payment method that helps you to pay to someone else without involving of 3rd party, in this case, banks. This is the benefit of Bitcoin and that's all! It's not an ultimate solution and was never designed or intended for massive global usage, even it's blocksize proves that it wasn't meant for that.
At the moment, Bitcoin can't change fiat because blocksize is low, adoption is low and too many people also aren't smart enough to download/create Bitcoin wallet and take the responsibility on their own.

[WillyAp]

Bitcoin simply a peer-to-peer payment method that helps you to pay to someone else without involving of 3rd party, in this case, banks.

Unfortunately for Bitcoin that function other do better and quicker.
The Whitepaper should be rewritten and the P2P should be eliminated.

[Upgrade00]

Well, that's sorta true but not totally.  Banks aren't perfect, sure, but least they got FDIC to cover your cash if they go under.  With crypto you lose your password or get your wallet hacked and boom, your money vanishes. 

FDIC insurance covers losses due to bank failure. If you lose your banking password or your app gets hacked and your funds stolen the bank does not restore them. All losses of bitcoins so far have been due to external factors, it means none of them would have been covered by insurance.
FDIC only insures up to $250,000 leaving a huge chunk for some uninsured.

[retreat]

We cannot compare fiat and cryptocurrency, because both of these have their respective advantages and disadvantages. For example, for regular transactions, perhaps fiat has an advantage because it is easier to use and more people accept it. However, for ease of international transactions, cryptocurrency can make things easier for users because transaction times are faster and fees are much cheaper. And many other advantages and disadvantages between fiat and crypto. So there is no need to compare these two things because if we can use both, why choose one and discredit the other.

[harapan]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

Basically,no one is going to argue about that fact,and we're not going to replace fait in anyway because,it is the country's currency.That is no matter what happens,fait remains fait and it's still runner by the government.Most times,people consider fait's usage more comfortable and confidently over crypto.

Generally,I think fait can be in the space as or with bitcoin,but let's use the currencies for the purpose of their creation and reduce the comparison that exists between them.Mostly,you'll hear and see questions like,What are the factors that make cryptocurrencies more interesting than FIAT currencies? Here are some of the reasons:Definitely,there are reasons that makes crypto interesting over fait,and it shouldn't be overemphasized.

[Apocollapse]

but the next problem is that the authorities usually don't want to deal with problems like this, because they think that cryptocurrencies are not in their jurisdiction. they are too bothered to track it because from the start they have been warning people that getting involved in cryptocurrency is risky. so when you lose your money on it and report it to the authorities, then they will turn around and say that it's not their job.

It depends on where you live, if you live in a country where cryptocurrencies are still in grey area or illegal, then you're correct because instead of recovering your losses, you might go to jail due to law you broke.

There have been many news that the police caught scammer using cryptocurrencies, so the police and authority already know cryptocurrencies have values.

Maybe the fund was stored in another wallet without moving them to any exchange or possibly moved them to Decentralized exchange to bridge to another network like from Ethereum chain to BNB beacon chain would you in any way trace the transaction or locate who stole the fund from you? Yes please explain more to me.

Bridging from ETH chain to BNB chain means you're swap platform, swap platform isn't decentralized exchange because they connected to centralized server. The problem arise when you want to convert the coins to fiat since you need to link your bank accounts.

Are you sure about what you say? Do you mean if someone gets scammed or has their cryptocurrency stolen, you can report it to the police and easily get your assets back? So why do criminals use bitcoin or other cryptocurrencies to trade without being detected by the government? Why can't anyone get their money back after being scammed or having their bitcoins stolen? Why do people who transfer the wrong wallet address have no way to get their bitcoins back even if they report it to the authorities?

If you transfer bitcoins to me now and I challenge you to find a way to get your bitcoins back even if you report it to the FBI or any government agency you trust.

It's not easily to get back your assets, but it's more transparent than banks.

There's a difference between send to wrong address, send to phishing sites and hacked. Send to wrong address means it's your fault, however if you send to phishing sites or get hacked, there's an evidence that you got scammed.

If I transfer my coins to you, the FBI or agency won't recover it because that's my fault.

[poodle63]

We cannot compare fiat and cryptocurrency, because both of these have their respective advantages and disadvantages. For example, for regular transactions, perhaps fiat has an advantage because it is easier to use and more people accept it. However, for ease of international transactions, cryptocurrency can make things easier for users because transaction times are faster and fees are much cheaper. And many other advantages and disadvantages between fiat and crypto. So there is no need to compare these two things because if we can use both, why choose one and discredit the other.

basically use fiat if its just for daily living and crypto for investment thats for me, there are certain countries that forbid the use of crypto for transaction that could be one of implication with using crypto though but i'm sure most of developed countries are allowing crypto as long as its reported when we are paying taxes, since country varies in term of law, we can't be sure though.
but to keep it simple, use what convenient for you, fiat so far is still the most convenient when making transactions within a country since its the legal currency approved by the government so its more widely used for people.
but so far even using crypto for investment alone is already suffice in my opinion since the profit itself is massive if compared with other investment like gold and so on.
therefore its just seeing advantages and disadvantages and thats it, not even worth compare and I do agree with your statement.

[Taskford]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

Basically,no one is going to argue about that fact,and we're not going to replace fait in anyway because,it is the country's currency.That is no matter what happens,fait remains fait and it's still runner by the government.Most times,people consider fait's usage more comfortable and confidently over crypto.

Generally,I think fait can be in the space as or with bitcoin,but let's use the currencies for the purpose of their creation and reduce the comparison that exists between them.Mostly,you'll hear and see questions like,What are the factors that make cryptocurrencies more interesting than FIAT currencies? Here are some of the reasons:Definitely,there are reasons that makes crypto interesting over fait,and it shouldn't be overemphasized.

Fiat will really remain on what is current status and crypto will just be an option since for sure that government will give their favor on their own currency since this is their countries pride and for sure they would never let any foreign currency would dominate and replace what they are been long time using. That's why I will agree to people saying that fiat will remain since as long as government is close minded on what they see from cryptocurrency and they always look bad for it, for sure fiat will retain all the disadvantages and this is still the most used coin on our country and bitcoin will just be an investment for other people.

But for profitability we can rely on bitcoin since there's a lot more opportunity it could potentially offer to us an d its up for us to know which of those opportunity around are we going to grab.

[G_Besar]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.

Your understanding is very different from what I understand about fiat money and Bitcoin, because for me fiat money only has one use, namely that it can be used as a medium of exchange when we buy goods or something in this world. Apart from that, I don't find any use for it because fiat money only excels at transactions in cash and that is the only advantage that fiat money has. Meanwhile, I don't find other things at all in fiat money, so I say that fiat money only has one advantage when used by anyone.

Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

When you say Crypto, it is no longer specific to one coin like Bitcoin, because it has become very general for all coins which are basically very different in terms of concept. Well, in this case you are also not quite right when you say that digital currencies are decentralized like Altcoins, because the only thing that is decentralized is Bitcoin so it is not worthy of being equated with any altcoin. Apart from that, comparisons between digital currencies such as Bitcoin and fiat money which are still often used by many people are not worth making because fiat money is definitely inferior to various things or sectors.

[KingsDen]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

Having money in the bank to have who to hold responsible when the money eventually goes missing is not an advantage of fiat. The bank houses the fiat just like the wallet and exchanges houses cryptocurrency. Think of it this way, if you keep fiat in your house, armed robbers can steal it, who will you hold responsible? I have also seen banks go bankrupt and unable to pay her customers. Fiat has some advantages over cryptocurrency especially in terms of anonymity but in the digital space, fiat has no ground against cryptocurrency.

[Reatim]

basically use fiat if its just for daily living and crypto for investment thats for me,

Well the thing is if we were to talk about bitcoin itself its primary purpose was to serve as a transaction method that could be used without any third party.

The only reason why it became a remarkable investment was because people saw value and appreciation in its limited supply and continues to do so. Now, people are hoping to someday use bitcoin for its actual intended purpose. I am sure a lot of altcoins as well aim to be used as a payment method.

[slapper]

Keeping fiat for "security" is like being afraid to swim in the pool for fear of getting wet. You have banks and government support, but is that a safety nett or simply a cage? Bitcoin, this invincible force, is destroying centralised finance. We focus on anonymity and the lack of a middleman, but they aren't what free us from the system that keeps ripping us over

Crypto's anonymity is its sole goal. It envisions a future without institutions that take our money like their own. Fiat? This world has inflation, red tape, and bogus protection. Those in "primitive life" unprepared for tech? We must advance them, not slow them down for the slowest. Crypto is about offering us a new method to handle our money, not replacing fiat

[fuguebtc]

Are you sure about what you say? Do you mean if someone gets scammed or has their cryptocurrency stolen, you can report it to the police and easily get your assets back? So why do criminals use bitcoin or other cryptocurrencies to trade without being detected by the government? Why can't anyone get their money back after being scammed or having their bitcoins stolen? Why do people who transfer the wrong wallet address have no way to get their bitcoins back even if they report it to the authorities?

If you transfer bitcoins to me now and I challenge you to find a way to get your bitcoins back even if you report it to the FBI or any government agency you trust.

It's not easily to get back your assets, but it's more transparent than banks.

There's a difference between send to wrong address, send to phishing sites and hacked. Send to wrong address means it's your fault, however if you send to phishing sites or get hacked, there's an evidence that you got scammed.

If I transfer my coins to you, the FBI or agency won't recover it because that's my fault.

Bitcoin gives us transparency about transactions, but let's not forget that it also gives us a certain privacy (anonymity). And that's why the government has difficulty tracking down and apprehending criminals using bitcoin.

Being transparent does not mean it will be easy for us to get our assets back if we are scammed or hacked. To date, there have been millions of bitcoin hacks and cases of people being scammed related to bitcoin and cryptocurrency. But how many cases have been resolved? As far as I know, not much because tracking data on blockchain is not as easy as we imagine.

[Mauser]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

While there are some advantages Fiat money offers to us, I think that the advantages of crypto currencies are much larger. The protection layer banks offer to is might come helpful to some people, but we are paying for such services. Most bank accounts and credit cards cost a monthly fee. Banks are large corporations that have a lot of staff and like to pay big bonus, we are the consumers that make this happen. Once we make the switch to crypto currencies there will be more responsibility in our own hands, but at least nobody is taking advantage of us.

[tiCeR]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

You are probably talking about fiat money that is deposited in a bank account. Otherwise, nobody is going to refund you the $10,000 cash you carried around when someone hit you with a hammer and ran with the money. But the implicit calculation that you did here lacks something that's very important to note:

When you get hacked and money is stolen from your bank account, the bank tells you that you might be to blame, but they compensate for the loss out of goodwill. First of all, in many cases when bank accounts get hacked, hackers found away to penetrate the security architecture of the bank and exploit weaknesses there. But they will still try to make you feel guilty.

But now there is another very important difference when it comes to fiat money deposited in a bank: they use your hard earned money to earn money. In essence, you entrust them with your money and allow them to generate cash for themselves with your money, but at the same time you rightfully demand a certain level of security. When you own a decentralized currency, banks are pissed because you don't deposit it in a bank account, which then means that your money doesn't serve as capital on a bank's balance sheet.

If banks were to let you alone with damages resulting from hacks, I am sure you would certainly consider self-custody. i.e. manage your own cryptocurrencies, as there is no more advantage for you to deposit wealth at a financial institution.

Many of the advantages that fiat money has over BTC are artificially developed and enforced through legal frameworks phrased and pushed by the powerful banking lobby. Fiat money has advantages not because it is intrinsically better, but because the lobby behind fiat is still Goliath while the lobby behind BTC is growing, but still David.

[Fortify]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

If you're honest about it there are plenty of good reasons and logic behind traditional fiat currency, but it can annoy some crypto holders to even discuss it. Most of the world, probably 95%+ are still transacting it fiat every single day - they're getting paid in it, they're buying their shopping with it, they pay their mortgage and rent with it, they invest their pensions with it and this is a huge amount of inertia. It is still a lot cheaper to transact with fiat currency on a consistent basis and at an instant speed, something that Bitcoin is unable to match right now. Then there is also scale - crypto is great for medium to large size transactions, but it would overwhelm the network if too many smaller transactions were sent to it.

[dunfida]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

If you're honest about it there are plenty of good reasons and logic behind traditional fiat currency, but it can annoy some crypto holders to even discuss it. Most of the world, probably 95%+ are still transacting it fiat every single day - they're getting paid in it, they're buying their shopping with it, they pay their mortgage and rent with it, they invest their pensions with it and this is a huge amount of inertia. It is still a lot cheaper to transact with fiat currency on a consistent basis and at an instant speed, something that Bitcoin is unable to match right now. Then there is also scale - crypto is great for medium to large size transactions, but it would overwhelm the network if too many smaller transactions were sent to it.

I would say that 99% of us or even 100% are still that trusting up fiat.Although there would really be those who are completely doesnt really like about fiat in personal reasons on which we cant blame them on and we do have our own will and interest when it comes to this manner on which there would really be that having those own perceptions and viewpoints about its cons and pros but we cant really be able to deny that fiat
would really be able to tick those checkboxes on which it is really that suited out on day to day transactions on which crypto couldnt really be able to do so. The only thing that what sucks with fiat that it is centralized and truly could really be that monitored via those institutions plus having that inevitable inflation due to continous printing but of course this is the reality that we are facing on, then we dont really have any choice
but to bare and deal with it. It is really just that we do have our own impressions on things around.

[dezoel]

First of all, not all cryptocurrencies and their blockchains are completely decentralized, it's just Bitcoin and some other cryptocurrencies that can be considered truly decentralized because their blockchains operate without anyone being able to make any changes to the original blockchain and the number of coins that it originally was created with. Most of the altcoins can be called semi-decentralized because their blockchains might work without anyone having to do anything, but some teams and developers have access to the blockchains and they can make changes to them whenever they want.

Talking about the advantages of fiat over cryptocurrencies, we can't deny that there are certain things that one can do with fiat that they might not be able to do with cryptocurrencies at the moment, and at the top of that list is the usability, which means that currently, you can't find a lot of options available around the world where you can use your cryptocurrencies as money to pay for goods or services which you can do easily with fiat.

[Hewlet]

While we are so comfortable about the potentials of the decentralized digital currencies such as the Alt and the Bit coins and its centralized exchanges in the blockchains, let's also understand that the Fiats has an advantage over it that you'd have somewhere to go to and someone to hold responsible in some cases that your fund in the bank is tempered by a theft or otherwise than that of Crypto that it's transactions is operated anonymously
Everything is life is not so balanced are when you're dealing with the sweetest parts of it, we fails to consider the bitter side of it.
Most of us as at times thought about how Crypto could dominate over financial exchange for payments without considering this certain advantage of the Fiats and also considering that most persons still lives a primitive live to cope with the digitalities of advancements.

there is no point in comparing fiat to crypto. Crypto wasn't created to replace fiat and regardless of the level of adoption in the crypto space, banks and traditional institutions wont go into extinction. That being said, the disadvantage you pointed out aren't real disadvantage if you look at in the real sense.if you're considering saving your money in the bank to be better than having full control of your crypto then you're missing it out. There hard been cases when due to government regulations, banks will freeze your fiat and deny you access to it and regardless of your cries you won't get it at all. That's not possible for crypto. If you choose to you can decide not to keep your crypto in exchange and then your jeep it in offline wallet, that's even more secured and safer than keeping your money in the banks. What's the main thing here is that crypto is in improvement on the traditional banking system  that can still be operated alongside normal banks and financial institutions so thier is no point in creating an argument.