Fiat Money vs. Cryptocurrencies

[kion 381]

On 10/13/2019 at 8:24 AM, 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.

Yes, despite all evidence and proven facts as to how helpful cryptocurrecy can be to many countries especially in this trying times of Corona pandemic, still they are not recognizing those facts , and that is why they are still not making cryptocurrecy legal, but hopefully, as times go by, we are going to see changes in that.

[Sena1234 972]

Yes I know we are all here because of crypto but crypto is still relying on Fiat and we still depending on the system to even take our profits, yes fiat has problems but its still there no matter what we do....

[Saleena micky 685]

Everything has his advantage, fiat currency cannot be replaced by cryptocurrencies in the future, no matter what happened, both of them have his own place to use, they are not the same in somethings .

[Nnnbht 502]

The reason for the stability of fiat is the control of the government and central banks over it, while cryptocurrencies are subject to great fluctuations, but each of them has advantages and disadvantages and I think that in the future we will go to cryptocurrencies more.

[james653 981]

Cryptocurrencies have outperformed fiat currencies with a lot of advantages.  Money can be transferred easily and without tracking.  This pandemic proved the harm of securities to human health by transmitting harmful viruses and germs.  Cryptocurrencies suffer from the problem of greatly fluctuating price due to the intervention of whales.  The digital currency market must be controlled in order for those currencies to be adopted by countries.

[Tallest 376]

On 4/2/2021 at 8:16 PM, selfmade said:

And sometime fees on cryptocurrencies are getting higher especially on bitcoin.

Indeed bitcoin has a high transaction fee above all other cryptocurrencies in cryptowold because the fee is 0.0012 which I think is too much for many members in this forum and I will suggest the use of xrp or litecoin for low fees.

[selfmade 7]

On 4/4/2021 at 11:58 AM, Maher59 said:

Even if crypto currencies are popular, fiat money will have the highest reliability and security, no matter what anyone tells you. 

Well time would tell, but I promise you brother, we are heading into the digital world, and what is digital between crypto and fiat? you tell me!

[Jessica7 1132]

At the present time, paper currencies cannot be dispensed with, but in the future I expect the great trend to deal with cryptocurrencies because they have great advantages.

[Shadi29 871]

My dear friends, tangible physical currencies have pros and cons, as well as encrypted currencies have pros and cons. Encoded currencies are easier and faster to trade, but they are subject to many frauds and breakthroughs while physical currencies are safer, controlled, and protected by governments, currencies The coded is permanently variable in value, sometimes with large differences, while the physical currencies are more stable and stable

[hghadeer611 689]

This is correct, in my opinion, neither of the two currencies can be canceled if the cryptocurrencies are not universally accepted, but the special thing about Bitcoin is its limited number, which makes our interest in obtaining it more.

[Maria karam 667]

I think that cryptocurrencies were created mainly to solve the problems shown by the current financial system and the protective funds that are being manipulated by countries using central banks. Therefore, we note that the spread of cryptocurrencies is very fast among people and everyone has become preferred by them in financial dealings.

[alisen9506573 194]

My dear friend, likewise, there are many pros in cryptocurrencies that will make profits like no other. But encryption makes us earn currency, and we know it. Cryptocurrencies and fiat have advantages and disadvantages, but encryption can control volatility over time. All appreciation.

[Moon87 798]

Hello my friend, paper currencies are prevalent in countries of the world and people deal with cryptocurrencies and governments consider cryptocurrencies decentralized and even put high taxes on them. I hope that the cryptocurrencies will be recognized.

[Michailma 637]

Fiat money is important in our life as like crypto both are important. Crypto is the business and its a large business in the world and so many peoples will invest in it but as we see fiat money will use every where at any place but crypto will just use in same coin wallet not like fiat money.

[lubinshah 562]

Both of these financial instrument will continue to co-exist together. This is not a debate on whether one will be killed or gone the next day. Bitcoin was made to make our life easier when it comes to moving money from point A to Point B.

[علي سليمان 1071]

Fiat currencies and digital currencies have in common that you can buy materials in both currencies. The difference. The use of cryptocurrencies has become more than paper currencies due to the speed of performance and their quality at work.

[HumamAliDeeb 590]

It is true that there is an effect that the traditional monetary system is based on centralizing the issuance of money and controlling the quantity of money supply in the system by central banks, and most often this system is inflationary in its money supply, in addition to its reliance on old and centralized systems and networks, which made it competitive advantages in the face of technological innovation Attention to an important point is that it will open the door for stablecoins to spread. With the decentralization of these innovations, it will be difficult for lawmakers to deal with them unless regulations evolve. Societies are moving from dependence on cash to cashless society. This shift must be accompanied by an evolution in legislation and regulations with regard to combating criminal activities that may take advantage of the weakness of the regulations regarding KYC and the risks of using these modern systems in carrying out activities that threaten society.

[Hasan386 1066]

Thank you very much for this valuable participation, my dear friend, and this detailed explanation of the comparison between encrypted and regular currencies.I believe that encrypted currencies will take the place of ordinary currencies in the near future and will become central currencies for countries

[lubinshah 562]

Both of these financial instrument will continue to co-exist together. This is not a debate on whether one will be killed or gone the next day. Bitcoin was made to make our life easier when it comes to moving money from point A to Point B.

[Jamii 608]

Both have use ,but have some different. People are using cryptocurrency and fiat money.  So most of people use fiat money to buy things and othwe daily matter. But cryptocurrency can be use to generate more money with time period.  Fiat money in stable price and cryptocurrency is in price flactuation.  So people can generate more money from both. But generate money from cryptocurrency is easy because we can hold and can earn. But fiat money when we are holding then we are just wasting time and not earning profit. So both is liked by people in different place and both have value in these age.

[Meer Hamza 409]

The advantage of fiat money is mainly its support, in the case of the dollar, it is backed by the United States, the European Union is supported by the euro, but bitcoin is only backed by the confidence of its investors, its nature does not allow it to be fully controlled.

[Raauf QK 1013]

In my opinion.

Paper currencies and cryptocurrencies have characteristics, pros and cons that we cannot prefer one over the other and cryptocurrency cannot be the foundation of the economy because the economy of the country in this case will be in the hands of whales.

[Alex Fron 602]

Well, according to me, Cryptocurrencies have become a worldwide largest digital currency in now a days. But it can't be replaced by the fiat money. There are many differences between Cryptocurrencies and fiat money in which the huge difference in that Cryptocurrencies have not physical existence, and the fiat money have the physical existence. That's why many people still prefer fiat money over Cryptocurrency.

[Kiondadu 191]

Hello deae, I think that the both cryptocurrency and the fiat currency are almost the same thing, the difference is that the fiat currency is control by government and the apex bank of the country, while the cryptocurrency is a independent transaction. 

[Sonii 386]

Yes we all know that the main difference between tha fiat mi9and crypto currency is that the fiat money is centralized and its price is controlled by the governments of the countries on the other hand the crypto currency is decentralized which means that there is no specific authority which will control its price... It's price depends on its market share and its demand or supply in the market. But both of them have no backup value behind them.. So we loose them then there is no chance to claim.