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Fiat Money vs. Cryptocurrencies

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Fiat money and cryptocurrencies have in common the fact that they are not backed by physical merchandise - but that is the only thing they share. While fiat money is controlled by governments and central banks, cryptocurrencies are essentially decentralized, largely thanks to a digital accounting book (ledger) called Blockchain.

Another notable difference between these two monetary systems is the way in which the currency is issued. Bitcoin, like most cryptocurrencies, has a controlled and limited monetary mass - unlike fiat money that can basically be created from nowhere by banks, according to what they consider the economic needs of the nation.

As a digital form of money, cryptocurrencies do not have a physical counterpart or are limited by borders, which favors their ability to be used in international transactions. In addition, transactions are irreversible, and the particular nature of cryptocurrencies makes them more difficult to track than fiat money.

It should be noted that the cryptocurrency market is much smaller and, therefore, much more volatile than traditional markets - this is one of the reasons why cryptocurrencies have not yet been universally accepted, although as the economy "Crypto" grows and matures, volatility will probably decrease.

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At the moment, cryptocurrencies are a tool for speculation. You can say anything, but in fact it really is. To understand this, you do not need to be a major specialist, just look at the charts of courses that show both UPS and downs.

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We cannot deny the advantages and popularity that cryptocurrencies are. However, it has not been accepted by many governments in other countries. Why? Because it affects currency. It will make the government unable to control domestic finance.

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The government and Central banks control the money, but no one controls or regulates cryptocurrencies. This means that anyone can trade a currency and do what they want with it. They can even decide their own value when they buy it.

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Just now, starwill said:

Fiat money and cryptocurrencies have in common the fact that they are not backed by physical merchandise - but that is the only thing they share. While fiat money is controlled by governments and central banks, cryptocurrencies are essentially decentralized, largely thanks to a digital accounting book (ledger) called Blockchain.

Another notable difference between these two monetary systems is the way in which the currency is issued. Bitcoin, like most cryptocurrencies, has a controlled and limited monetary mass - unlike fiat money that can basically be created from nowhere by banks, according to what they consider the economic needs of the nation.

As a digital form of money, cryptocurrencies do not have a physical counterpart or are limited by borders, which favors their ability to be used in international transactions. In addition, transactions are irreversible, and the particular nature of cryptocurrencies makes them more difficult to track than fiat money.

It should be noted that the cryptocurrency market is much smaller and, therefore, much more volatile than traditional markets - this is one of the reasons why cryptocurrencies have not yet been universally accepted, although as the economy "Crypto" grows and matures, volatility will probably decrease.

Fiat currency is more stable, good and can be controlled as Fiat money can be traced and if it is send to wrong address using online banking then it can be reversed while Crypto is not.

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Both fiat and cryptocurrency can't be separated. Fiat controlled by government and central banks, this is why the price keep stable, even tend to be silent, not like crypto, which make us earn profit even we hold it, buta also lose them. 

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Crypto and Fiat currency both have advantages and disadvantages but crypto has one additional point that it's disadvantages can be controlled over time like the volatility it has currently would be reduced with the world adoption, illegal activities can be reduced with the regulations.

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4 hours ago, denaks said:

At the moment, cryptocurrencies are a tool for speculation. You can say anything, but in fact it really is. To understand this, you do not need to be a major specialist, just look at the charts of courses that show both UPS and downs.

Agree, although we support cryptocurrency, we must be realistic that cryptocurrency is a speculation tool at this time, except for bitcoin because some merchants and countries allow bitcoin as a means of payment. But to replace bitcoin, I think there is still a long way to go because the government certainly does not want its authority to be disturbed

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if it is correct that the adoption of the BTC must overcome endless barriers before supplanting the fiat money since this opens the door to digital finance where the market is released and decentralizes the money in very few hands and we all have opportunity to take a part of the cake.
 

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Many say that digital currency is the way forward and will soon wipe out fiat money completely. Others say that cryptocurrency is essentially fiat money in digital form. The true is that both cryptocurrency and fiat money have advantages and disadvantages to be taken into consideration.

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13 hours ago, Saoha said:

We cannot deny the advantages and popularity that cryptocurrencies are. However, it has not been accepted by many governments in other countries. Why? Because it affects currency. It will make the government unable to control domestic finance.

yeah and because of that government are trying to kill crypto, they just want to keep their fiat money valuable as if crypto become very popular the FIAT will lose their value

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You are right bro, but as we see that crypto is the future of the world and so many business i join but i am fail in that but when i join crypto business i got good profit and i just invest some money not high. Crypto is the best business. 


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On 10/12/2019 at 10:42 PM, starwill said:

Fiat money and cryptocurrencies have in common the fact that they are not backed by physical merchandise - but that is the only thing they share. While fiat money is controlled by governments and central banks, cryptocurrencies are essentially decentralized, largely thanks to a digital accounting book (ledger) called Blockchain.

Another notable difference between these two monetary systems is the way in which the currency is issued. Bitcoin, like most cryptocurrencies, has a controlled and limited monetary mass - unlike fiat money that can basically be created from nowhere by banks, according to what they consider the economic needs of the nation.

As a digital form of money, cryptocurrencies do not have a physical counterpart or are limited by borders, which favors their ability to be used in international transactions. In addition, transactions are irreversible, and the particular nature of cryptocurrencies makes them more difficult to track than fiat money.

It should be noted that the cryptocurrency market is much smaller and, therefore, much more volatile than traditional markets - this is one of the reasons why cryptocurrencies have not yet been universally accepted, although as the economy "Crypto" grows and matures, volatility will probably decrease.

I will recommend that don't make the comparison as both the currency have their own impact, usage, benefits and drawbacks and through both we can earn and loss.

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I do support both the systems because both of them have negative and positive sides. Example of cryptocurrency market are being controlled by the Whales, and downside of the government money is that anyone can create it even if it does not exist in the economy. We have credit cards which allow you to make money from thin air even if Bank do not have that money.

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On 10/13/2019 at 12:53 PM, Khan said:

Fiat currency is more stable, good and can be controlled as Fiat money can be traced and if it is send to wrong address using online banking then it can be reversed while Crypto is not.

I will also recommend because of the stability factor and the second thing is that Fiat currency is legal and can be traced no matter how much and from where it is send or received.

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13 hours ago, jak3 said:

I do support both the systems because both of them have negative and positive sides. Example of cryptocurrency market are being controlled by the Whales, and downside of the government money is that anyone can create it even if it does not exist in the economy. We have credit cards which allow you to make money from thin air even if Bank do not have that money.

All said correctly. The myth of crypto currency decentralization has long been dispelled. Whales and developers of crypto currencies have more time. In addition, many exchanges are already introducing a mandatory KYC procedure. Special services can already track transactions. The SEC can block any ICO. Decentralization is a myth that is imposed on us so that we can depend on the state and traditional money

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Cryptocurrencies are very volatile and very difficult to control, I hope that in the future the government will see the development of cryptocurrencies and make regulations so that prices of cryptocurrencies are stable.


 Trade what you see, not what you expect 
#ProphetInvestor


 

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crypto currencies i prefer as compared to fiat money, because crypto currency will give you more benefits and profits as compared to fiat money, so i will prefer the crypto currencies, and i ma loving it.


Hard Worker 😎😎

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On 10/16/2019 at 10:19 AM, Saqib Ali Sadiq said:

crypto currencies i prefer as compared to fiat money, because crypto currency will give you more benefits and profits as compared to fiat money, so i will prefer the crypto currencies, and i ma loving it.

I think this topic is not about profit or investments, it's about usages of this systems in our daily life, to be honest I currently prefer using FIAT in most of the online payments, as it's much easier to pay with and actually has no fee for transactions

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On 10/16/2019 at 10:26 AM, Sindo said:

there's a point this friend too.  that fiat currencies can be controlled and tracked.  but don't close your eyes that crypto is currently developing all over the country wants to make transactions easier and safer through crypto.  well, if you want to live in the stone age, keep using fiat currency.  but if you want to keep up with the times then your mindset can change to new things.  I think in the future crypto can be controlled.

You are right that transaction made through Crypto can be safe and everybody want that privacy but don't forget that wrong transaction can not be reversed.

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Crypto and Fiat also have disadvantage.
Crypto is good if have decentralized. So no one can control it like adding more supply, deleting people address,  change balance, etc.
Different with Fiat, it have central bank.

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As of the moment, nothing's better between the two. Fiat and crypto have their own unique identity, stability, advantages, and disadvantages that depend on an individual's personal or current preference. Both are useful in their own way.

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Indeed we required some revolutionary change in financial industry and that should be Bitcoin and other cryptocurrencies. I strongly believe that this corruption factor pulls off many people out and make good economic stability for every country.
 

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The fact that there are only 21 million bitcoins and that no oje else can print more is enough for me because we saw the inflation and all the drama that comes with Fiat and the billions that are printed whenever the government feel they need some liquidity. 

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