Benefits of Bitcoin over Fiat

[Alpha Marine]

This is only achievable if you only use your discretionary income for purchasing bitcoin as you already reserve other money parts for other spending for yourself and your family. If you don't manage your finance and investment capital well, you will almost unlikely be able to hold your coins for 4 or 8 years.

Making use of discretionary income alone might not be able to make a person keep their bitcoin for 8 years. Sometimes what a person needs is better sources of income. At the end of the day bitcoin is just money and if you don't work for money, you won't get it. If you don't have enough income, and you have savings in bitcoin, it will be difficult not to go back to your investment when things get tough. Simply managing money properly might not always work.
People should focus more on increasing their income. It is when they have enough to sustain their bills for a long time without thinking about their savings that's when they can hold bitcoin for 8-10 years without touching it. They reality out there is different.

[barbara44]

I can't agree more with you. Both have their own pros and cons but I like BTC most because of its nature but the way it has been advertised since the start (by governments), a tool for scammers to move their money into something they (victims) can't do anything about until governments come and seize it all.

Anyway we are so dependent on the banks that we can't live without them at this point. Crypto is still so small by market cap, the money in it is nothing as a matter of fact money in crypto not just btc is less than it was lost in the recent dump of gold and silver combined.

So moving btc without giving any personal information might seem a small benefit to those who think what bad can happen if we give our personal information to these centralized platforms, well a lot of bad things can happen that's why btc is being loved.

I would say that it's going to be a rival to banks eventually ,just not anytime soon. We have seen ETF and that was something that would be impossible to imagine just 10 years ago. I remember 10+ years ago when people thought bitcoin was an illegal drug money, and yet today we have ETF from Blackrock, the biggest company in the world.

So when you think of it that way, you could see that we are getting there, with this type of growth, who knows what could happen in like 20 years or so. We could have a world where people are using crypto and web3 projects to actually replace their banks and could be not that bad at all. With enough rules and regulations we could even have a fully functioning crypto bank that works with just crypto currencies.

[Faisal2202]

I would say that it's going to be a rival to banks eventually ,just not anytime soon. We have seen ETF and that was something that would be impossible to imagine just 10 years ago. I remember 10+ years ago when people thought bitcoin was an illegal drug money, and yet today we have ETF from Blackrock, the biggest company in the world.

So when you think of it that way, you could see that we are getting there, with this type of growth, who knows what could happen in like 20 years or so. We could have a world where people are using crypto and web3 projects to actually replace their banks and could be not that bad at all. With enough rules and regulations we could even have a fully functioning crypto bank that works with just crypto currencies.

Barbara, it has been a rival of banks since the start, that's why everyone thought it was illegal drug money, because banks also advertised this idea but there have been wrong usage of bitcoin, too, and some major scams and hacks that hurt its reputation in the long run but it has recovered a lot.

In the next 20 years, Bitcoin is going to be integrated into all the banks, because they are tokenizing RWA, but they won't be using btc blockchain. As of now, some real institutions have used ETH's blockchain for RWA integration, but I doubt they will use it anymore, because their own blockchains has proven to be more successful for them.

But they already are focusing to integrate btc etf buying and selling from their banking apps directly, so we can see in in 2 years maybe, so no need to wait for 20 years.

[Nothingtodo]

A unique feature of Bitcoin is that its supply is limited and due to its limited supply, it has been able to position itself above fiat currencies and has been able to attract a lot of attention from investors. Whereas paper money has a very high inflation rate due to its unlimited supply, Bitcoin does not have inflation. Over time, the value of paper money decreases, whereas the value of Bitcoin increases over time, which is why Bitcoin is better than printing money.

[Adams0001]

There are so many benefits Bitcoin has over fiat currency and  that is one of the reasons why people are investing in Bitcoin because they do have to depend on bank everytime for their transactions to be completed due to the way banks are freezing their customers accounts due to various reasons. Bitcoin is decentralized while local currency is centralized. Bitcoin is not controlled by local or any government authorities. No regulation also.

Sure, that is why many people focus more in investing in bitcoin then saving in the fiat, local currency is just for main term and if you're trying to be saving in the fiat they can be decreasing your funds some time and that will spoil your plan that means you don't have controlled over your money you share your funds with others. But bitcoin you can know share it with anyone know can get access to your money except the one that you give access to it. Bitcoin as many advantages over fiat but you won't notice except you're in the system and yo have understood bitcoin very well. If you understand bitcoin better he Will be very hard for you to keep money in fiat except the one you wish to spend for short term and not for investment purposes.

[fredericktaylor]

A unique feature of Bitcoin is that its supply is limited and due to its limited supply, it has been able to position itself above fiat currencies and has been able to attract a lot of attention from investors. Whereas paper money has a very high inflation rate due to its unlimited supply, Bitcoin does not have inflation. Over time, the value of paper money decreases, whereas the value of Bitcoin increases over time, which is why Bitcoin is better than printing money.

Over time, inflation is increasing and over time, Bitcoin is working against inflation, this is making users more attractive to hold Bitcoin for the long term, in addition to using Bitcoin, there are several other benefits available, due to which the number of investors is increasing day by day. A person has to be completely dependent on the banking way to exchange fiat currency and this is very annoying, but by exchanging Bitcoin, users do not have to be dependent on the banking way, the user can transaction Bitcoin whenever and wherever in a very small number of times and at a low cost and without any hassle. The government has complete control over fiat currency, so it can printing fiat currency whenever it wants for the needs of the government, due to which inflation is increasing day by day. The supply of Bitcoin is limited, its demand is increasing over time, as a result, its price is gradually increasing and working against inflation.

[Hamza2424]

A unique feature of Bitcoin is that its supply is limited and due to its limited supply, it has been able to position itself above fiat currencies and has been able to attract a lot of attention from investors. Whereas paper money has a very high inflation rate due to its unlimited supply, Bitcoin does not have inflation. Over time, the value of paper money decreases, whereas the value of Bitcoin increases over time, which is why Bitcoin is better than printing money.

Yep, the fixed supply of Bitcoin is a unique feature, but it is not the only unique feature, it is decentralized too. But we should not compare it with fiat because both are completely different things and have different purposes. You can use BTC as a payment system just like you can use fiat, but you can't use fiat to make money by holding it like you can do with Bitcoin.

Because Bitcoin has a disinflationary supply, not just a fixed supply. After every halving, the block reward is cut in half. Since the start, the block reward went from 50 new coins to 3.125 today, and they will keep halving until the last coin is mined by around 2140, without any human decision making involved.

Now bro, the comparison to paper money printing starts here when you look at actual numbers. As the US M2 supply has increased by 2x in the last decade alone, so every dollar printed dilutes the purchasing power of every existing dollar quietly like a tax nobody voted for.

[puloweh555]

A unique feature of Bitcoin is that its supply is limited and due to its limited supply, it has been able to position itself above fiat currencies and has been able to attract a lot of attention from investors. Whereas paper money has a very high inflation rate due to its unlimited supply, Bitcoin does not have inflation. Over time, the value of paper money decreases, whereas the value of Bitcoin increases over time, which is why Bitcoin is better than printing money.

Yep, the fixed supply of Bitcoin is a unique feature, but it is not the only unique feature, it is decentralized too. But we should not compare it with fiat because both are completely different things and have different purposes. You can use BTC as a payment system just like you can use fiat, but you can't use fiat to make money by holding it like you can do with Bitcoin.

Because Bitcoin has a disinflationary supply, not just a fixed supply. After every halving, the block reward is cut in half. Since the start, the block reward went from 50 new coins to 3.125 today, and they will keep halving until the last coin is mined by around 2140, without any human decision making involved.

Now bro, the comparison to paper money printing starts here when you look at actual numbers. As the US M2 supply has increased by 2x in the last decade alone, so every dollar printed dilutes the purchasing power of every existing dollar quietly like a tax nobody voted for.

It's certainly not appropriate to compare fiat and Bitcoin because they have striking differences. Bitcoin was even created because of a fraudulent fiat system. The main difference between fiat and Bitcoin lies in their control, supply and how they operate.

Centralization versus decentralization and unlimited versus limited supply. Fiat can be decrypted depending on trust in government authorities while Bitcoin relies on trust in mathematical codes a global network and its scarcity. Bitcoin can even be used for trading and as a long term store of value while fiat is only for daily transactions but cannot be used for investment and loses its value every year.

The way our fiat money works is like a slave to the existing system. Central banks print money and ordinary citizens suffer inflation and we have made you slaves to their system. But Bitcoin works differently. We work hard and then save in BTC so we can achieve freedom and happiness.

[uchegod-21]

A unique feature of Bitcoin is that its supply is limited and due to its limited supply, it has been able to position itself above fiat currencies and has been able to attract a lot of attention from investors. Whereas paper money has a very high inflation rate due to its unlimited supply, Bitcoin does not have inflation. Over time, the value of paper money decreases, whereas the value of Bitcoin increases over time, which is why Bitcoin is better than printing money.

Yep, the fixed supply of Bitcoin is a unique feature, but it is not the only unique feature, it is decentralized too. But we should not compare it with fiat because both are completely different things and have different purposes. You can use BTC as a payment system just like you can use fiat, but you can't use fiat to make money by holding it like you can do with Bitcoin.

Because Bitcoin has a disinflationary supply, not just a fixed supply. After every halving, the block reward is cut in half. Since the start, the block reward went from 50 new coins to 3.125 today, and they will keep halving until the last coin is mined by around 2140, without any human decision making involved.

Now bro, the comparison to paper money printing starts here when you look at actual numbers. As the US M2 supply has increased by 2x in the last decade alone, so every dollar printed dilutes the purchasing power of every existing dollar quietly like a tax nobody voted for.

It's certainly not appropriate to compare fiat and Bitcoin because they have striking differences. Bitcoin was even created because of a fraudulent fiat system. The main difference between fiat and Bitcoin lies in their control, supply and how they operate.

Centralization versus decentralization and unlimited versus limited supply. Fiat can be decrypted depending on trust in government authorities while Bitcoin relies on trust in mathematical codes a global network and its scarcity. Bitcoin can even be used for trading and as a long term store of value while fiat is only for daily transactions but cannot be used for investment and loses its value every year.

The way our fiat money works is like a slave to the existing system. Central banks print money and ordinary citizens suffer inflation and we have made you slaves to their system. But Bitcoin works differently. We work hard and then save in BTC so we can achieve freedom and happiness.

There have been lots of comparisons between bitcoin and other currencies or investments. People compare bitcoin to altcoins, fiat, gold, other precious stones, real estate and so on. These kinds of comparisons are becoming tiring because bitcoin is very different from all of these mentioned. Bitcoin doesn't need all of those comparisons and bitcoiners can help avoid that by focusing only on what gives them more value. Like puloweh555 said, all of these comparisons are not appropriate. People can decide to use only fiat and still be cool with it

[Smack That Ace]

There have been lots of comparisons between bitcoin and other currencies or investments. People compare bitcoin to altcoins, fiat, gold, other precious stones, real estate and so on. These kinds of comparisons are becoming tiring because bitcoin is very different from all of these mentioned. Bitcoin doesn't need all of those comparisons and bitcoiners can help avoid that by focusing only on what gives them more value. Like puloweh555 said, all of these comparisons are not appropriate. People can decide to use only fiat and still be cool with it

To be fair, every asset and currency has its own advantage and disadvantage, and each has its own loyal users and investor. And each asset also has its own use case. As user and investor, our task is to select assets that meet our criteria and balance them flexibly. Being biased, or putting all your eggs in one basket is never a wise idea.

Bitcoin is better than fiat, but can we use it for everyday payment? Bitcoin is better than gold. But if we need to diversify our portfolio, what should we do?

[notocactus]

To be fair, every asset and currency has its own advantage and disadvantage, and each has its own loyal users and investor. And each asset also has its own use case. As user and investor, our task is to select assets that meet our criteria and balance them flexibly. Being biased, or putting all your eggs in one basket is never a wise idea.

Bitcoin is better than fiat, but can we use it for everyday payment? Bitcoin is better than gold. But if we need to diversify our portfolio, what should we do?

Don't put all eggs in one basket, maintaining this principle for our capital management will be very important for us to diversify our capital and minimize risk of losing all in one accident or death spiral of an asset. In practice like spending or daily payments, such capital diversification can help us always have something to spend easily. If we can not use bitcoin, we still have either fiat currency or stablecoin to use for spending, and I would like to have both fiat currency in my pocket and stablecoin in my hot wallet for payment when I need to do that and can not make payment with bitcoin.

In investment aspect, diversifying capital into Bitcoin and gold will be a good management, and keep our capital safer against any chaos in the market. Just learn and focus on each asset's market cycle.
Bitcoin market is like other markets, has its cycle. Focus on its cycle!

[AGogi2003]

There are so many benefits Bitcoin has over fiat currency and  that is one of the reasons why people are investing in Bitcoin because they do have to depend on bank everytime for their transactions to be completed due to the way banks are freezing their customers accounts due to various reasons. Bitcoin is decentralized while local currency is centralized. Bitcoin is not controlled by local or any government authorities. No regulation also.

Many people that understood bitcoin very well have noticed that bitcoin is more better then fiat, in term of transaction and investment you will prefer to invest in bitcoin then saving in the bank but many people are scared when they talk about bitcoin because many scammers as used bitcoin to fraud people, they will say they should send btc they will double it for them but if you're someone that as be in the system for long you will notice that is scammers and bitcoin is not like other coins and know one can control it. So if you're capable to invest you can do that and for the long term you will get the benefit.

[Agbamoni]

Simply managing money properly might not always work.
People should focus more on increasing their income. It is when they have enough to sustain their bills for a long time without thinking about their savings that's when they can hold bitcoin for 8-10 years without touching it. They reality out there is different.

I thought as much. Managing money properly dont always work, and increasing our source of income still does not work.
What works is if you do both. Managing your income at the same time increases your source of income. Bills will increase, inflation will come when and there will be more responsibility as you grow to have a family. Increasing the source of income will not be enough if you dont manage your expenses wisely.

[uchegod-21]

There have been lots of comparisons between bitcoin and other currencies or investments. People compare bitcoin to altcoins, fiat, gold, other precious stones, real estate and so on. These kinds of comparisons are becoming tiring because bitcoin is very different from all of these mentioned. Bitcoin doesn't need all of those comparisons and bitcoiners can help avoid that by focusing only on what gives them more value. Like puloweh555 said, all of these comparisons are not appropriate. People can decide to use only fiat and still be cool with it

To be fair, every asset and currency has its own advantage and disadvantage, and each has its own loyal users and investor. And each asset also has its own use case. As user and investor, our task is to select assets that meet our criteria and balance them flexibly. Being biased, or putting all your eggs in one basket is never a wise idea.

Bitcoin is better than fiat, but can we use it for everyday payment? Bitcoin is better than gold. But if we need to diversify our portfolio, what should we do?

The problem with Bitcoin maximalists and Bitcoin critics is that both think that they are very right. Bitcoin maximalists think Bitcoin is the only real and right asset to own, while Bitcoin critics think Bitcoin is just another bubble that will eventually burst no matter how long it has lasted. Both parties do not want to see that different assets have their various values and, just as you have said, you can own them all and still maintain your personal principles. After all, Satoshi never intended for us to do away with the already existing assets; he created Bitcoin as an alternative.

[silpersurfer]

Simply managing money properly might not always work.
People should focus more on increasing their income. It is when they have enough to sustain their bills for a long time without thinking about their savings that's when they can hold bitcoin for 8-10 years without touching it. They reality out there is different.

I thought as much. Managing money properly dont always work, and increasing our source of income still does not work.
What works is if you do both. Managing your income at the same time increases your source of income. Bills will increase, inflation will come when and there will be more responsibility as you grow to have a family. Increasing the source of income will not be enough if you dont manage your expenses wisely.

It should be like that, a good answer, because if you think about how we can hold bitcoin if we continue to have a stagnant income and poor money management, on the other hand as time goes by the needs increase and responsibilities increase and inflation continues to suck our money so that we will be very difficult to have to survive in talking about investing in bitcoin.
While it is still easy to multiply skills and multiply side income to increase a strong financial foundation so that it can fight many financial storms that may occur, bitcoin is indeed very profitable but that is if it is held in the long run while we cannot cover ourselves from the needs that continue to increase.

[DiMarxist]

Bitcoin offer it's user alot of benefits when compared to our traditional Fiat currency, this is why in recent times the use and adoption of Bitcoin has been on the rise because many has seen Bitcoin as an avenue to substitute our everyday Fiat. Fiat currency is marked by unending printing which is one of the reasons inflation bites hard on the economy the people using Fiat and Bitcoin solves this problem because it has a limited supply.

[odunybiz]

In the long run btc always beats FIAT and that's its biggest feature imo. Everything else is a bonus. Sure you can carry your wealth with you and nobody will notice, yes you can send money overseas and nobody can stop it, you can sell/buy stuff without needing banks... These are good features without a doubt but the main thing is that btc has been gaining purchasing power while FIAT is losing it. Sure btc took some beating recently but it always recovers. See you at $500k in a few years. That's nearly x10 from here.

BTC can never be compared with fait in anyway. BTC, a highly durable and portable digital currency which has created alot of silence millionaires and billionaires. Another one is being recognize world wide. It has given most countries the ability to purchase goods abroad without stress. Nothing in this world has important without it's bad side. This is where the volatility of Bitcoin comes in. But with this volatility, BTC still gives a good hope of profit in years where fait may keep depreciating base on the world's or country's economy.

[Sonia_123]

Bitcoin is a decentralized digital currency that  gives an edge against inflation with easy transactions without third party intervention, Bitcoin supply is limited to 21 million supply of coin that cuts across borders with it's increase in speed and reduction of cost with strong security for protection and can only be controlled by its users unlike fiat that everything is being controlled by the government.

[Abiky]

I would say that it's going to be a rival to banks eventually ,just not anytime soon. We have seen ETF and that was something that would be impossible to imagine just 10 years ago. I remember 10+ years ago when people thought bitcoin was an illegal drug money, and yet today we have ETF from Blackrock, the biggest company in the world.

So when you think of it that way, you could see that we are getting there, with this type of growth, who knows what could happen in like 20 years or so. We could have a world where people are using crypto and web3 projects to actually replace their banks and could be not that bad at all. With enough rules and regulations we could even have a fully functioning crypto bank that works with just crypto currencies.

It's too late for Bitcoin to rival banks. Especially, when it's integrated into the centralized financial system. The adoption of spot ETFs, have ruined everything Satoshi envisioned in the early days. Now with "Wall Street" involved, institutional investors and governments will accumulate a large portion of the circulating supply and gain huge leverage over Bitcoin's market price. They may not be able to control the Blockchain directly with their holdings, but they'll be able to crash the price whenever they want to. It's their game now.

Bitcoin was created as a response against banks' failures. The Global Financial Crisis of 2008, encouraged Satoshi to launch Bitcoin as a sort of "protest". I guess all good things come to an end. Things aside, Bitcoin has a few notable benefits over Fiat. But it will never replace it due to obvious reasons. Depending on your needs, will be the type of currency to use. With Fiat becoming "digitized" (through CBDCs), banks and governments will gain more power than ever. Just you wait and see.

[ThemePen]

Bitcoin is a decentralized digital currency that  gives an edge against inflation with easy transactions without third party intervention, Bitcoin supply is limited to 21 million supply of coin that cuts across borders with it's increase in speed and reduction of cost with strong security for protection and can only be controlled by its users unlike fiat that everything is being controlled by the government.

Bitcoin is special, as rules of network cannot be changed by governments, as has in past happened with most paper moneys hurt by main banks and wars. New tools, such as Lightning Network, have allowed almost free and instant moves, which means that you can send money anywhere, anytime without waiting for banks to finish. Shared network means that no one can lock your money if you handle your own coins and safety experts are already preparing the network for Post-Quantum Coding to keep it safe from supercomputers. I believe true worth of Bitcoin is moving from trust based to fact based and giving power to people by putting them in control of their money for first time.