Fiat Money vs. Cryptocurrencies

[nickoman987 1040]

I don’t quite understand what FIAT money is, as far as I understand, this is ordinary digital money. Cryptocurrency is much better than fiat, it is commonplace. There are so many advantages of cryptocurrency than fiat. Although fiat is useful.

[Hanuman 253]

Fiat money are controlled by government and country Central bank.

And crypto currency is controlled by crypto world.

Both money have different value fiat money is low price and crypto currency is high price.

 

[Bruno52 1141]

I prefer crypto currency to fiat currency because the value of fiat currency might be controlled by corrupt which steal from the country's wealth while crypto currency is controlled by the forces of demand and supply.

[Emaly Johansson 4]

Every time i support the crypto currency cause it is a very big and helpful market place where many people trusted and investment a lot of money. So i think it is the best income site.      

[maghbilas 0]

Hello dear mate, I am new in this gorum and I  still learning about cryptocurrency. You described really good difference between fiat currency and crypto currency. One think I can say crypto coin more valuable than fiat currency.          

[Portaquadri 4]

On 10/13/2019 at 12:38 PM, Kumar said:

crypto has one additional point that it's disadvantages can be controlled over time like the volatility

Bitcoin and other cryptocurrency is better than fiat currency because it is more valuable and more precious, that is why bitcoin is getting more popular everyday that more people are investing and buying in bitcoin and other crypto coins

[Miller Ha 24]

Fiat and crypto currencies are two different means in the trade market platform the crypto is more fascilitated due de centralization of the platform and this is changable and fiat is centralized and less ability for volatalization.

[Bohana 2143]

On 10/13/2019 at 8:42 AM, 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 am sure they both have benefits, but fiat currencies will always be better for MOST people because a lot of people do not know about Cryptocurrencies 😞. But for me, I prefer dealing with the both of them as they are both important to me 🙂.

[Noori 1]

it has currently would be reduced with the world adoption, illegal activities can be reduced with the regulations.

[Grease Lightning 169]

On 10/13/2019 at 12:42 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.

I think that bitcoin is supported by demand. People are starting to need bitcoin to facilitate financial transactions. The bitcoin administration does not require a lot of paper to record every transaction and can not be manipulated.

[Hanan951 841]

Both of them has their own qorld so they will stay able to exist all the time i dont see any one of them will die soon.

[zadrotbig 6]

Fiat money vs cryptocurrencies one is digital other no, but I think in the future they can complement, all this who are moved in the internet I means virtual to be shopped or payed with cryptocurrencies all other out internet will be paid only fiat.

[Whited35 15285]

Fiat money is just the online version of the physical money but crypto currencies are the virtual money which uses its own blockchain to confirm the transactions. Crypto and the fiat money have almost the same features for the operations. 

[sha56 7]

whether it is synchronize therefore the endorsement a btc should overtake never-ending hurdles prior to trumping powerful dollar bill the above opens powerful door in order to abacus investing where spectacular seller's market debut in addition to distributes the general money in petty workforce as well as we all experience chance as far as take a part a bridecake.

[Shahadat hossan 4]

This will depend fiat bucks is without a doubt centralised and even crypto is without a doubt decentralised. I recommend that you really possess each of those. Each individual contains specific to it decent side panels.

[Prince90 668]

Fiat currency vs crypto currency this is a long fought battle. The reason government won't backs  cryoto currency due to its decentralized nature and governments wants to be in control of the currency , fiat is totally under the control of government. 

[Babubu609 0]

On 10/13/2019 at 9:33 PM, Mohs3n71 said:

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

the genuine is that each cryptocurrency and fiat cash have blessings and disadvantages to be taken into consideration

[George10 9932]

Cryptocurrency is great to use as you earn from price fluctuations by holding some crypto in your wallet while fiat money has no such abilities but safe and controlled by the governments.

[magd 5231]

The reasons that you mentioned to us are logical reasons, my friend, but I think that the reason many countries refuse to digital currencies is that it affects the economy of those countries in terms of the national currency and that digital currencies are easily removable and therefore an entire economy may be destroyed

[malik6314193 5449]

In my opinion boyh currencies have own value and now a days fiat currencies is used more as compared to crypto currencies. But in near future crypto currencies may be overcome fiat currencies.. 

[Treat1234 0]

Cryptocurrency market is still developing and this has make it a much difference from the fiat market, the volatility is something to talk about in cryptocurrency market 

[Cammer 4609]

On 10/13/2019 at 8:42 AM, 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.

Thanks for sharing this information with us. Unfortunately, Crypto currencies are considered by money people (at least in my country) as a scam field or gambling mainly. I think that's the meain reason for not accepting crypto currencies in addition to the reason you mentioned. 

[Mcd0d0 5882]

On 10/13/2019 at 3:28 PM, denaks said:

The government and Central banks control the money, but no one controls or regulates cryptocurrencies.

It's because this is decentralized network which means that no one can handle this or no one are handle this, i think there is a possible to control this if they are adopting this.

[rianpedia 816]

2 minutes ago, Mcd0d0 said:

It's because this is decentralized network which means that no one can handle this or no one are handle this, i think there is a possible to control this if they are adopting this.

We'll see in the future, whether you really want to adopt or not. apparently not because this is a conflict between the two, both from the system and its management.

[Mcd0d0 5882]

2 hours ago, rianpedia said:

We'll see in the future, whether you really want to adopt or not. apparently not because this is a conflict between the two, both from the system and its management.

Well, there is a high tendency that they will adopt this cryptocurrency because there are many people who are using this in any transactions and i hope that they will know what is the importance of it. Happy posting.