Fiat Money vs. Cryptocurrencies

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Fiat currency is a means of securing funds as they are backed by banks and governments but crypto currency is fully powered by its users. The major difference is that crypto is digital is nature and doesnot have physical existance.

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Fiat currency is a centralized and crypto is decentralized so we all will like crypto. 

[Oxygen 1004]

FIat currencies can not be elminated at all. But crypto currencies could run along side with with fiat currencies. Both will have their own importance.

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14 minutes ago, Commando said:

Fiat is still needed. Because we need real tools for sharing. Cryptocurrency only shows a number, we do not feel good, if only we show a number. No different, it is unlikely that based on the number there are images and some intrinsic value.
We know that not all people know about cryptocurrency, so they need to be trained for a long time.
 

No crypto do not show just numbers but it has a real usage, you need to search about that and you will find many stores accepting crypto. 

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11 hours ago, Liman99 said:

Honestly btc cannot overseas the fiat as they are two different thing is just going to be an alternative

No they are not two different things but they both are the same, they both are currencies and we spend these both to buy things so it is possible that the new may replace the old one. 

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13 minutes ago, Shuusei said:

In terms of investment, I would definitely choose cryptocurrency over fiat currency. But in terms of saving, I will choose fiat over cryptocurrency. So, I try to always convert my assets into fiat currency and keep them safe in banks. While the others in cryptocurrency for trading purposes.

I think in terms of saving bitcoin is also very better because if you will save your money in bitcoin then it will be like you have your money in your pocket and in the same time it will increase in value. 

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2 hours ago, ramtraongh said:

from those option you give, i choose both of them, because in actual way i really need both of them. Crypto for trading and Fiat when the time to use my money haven't come. In my winner''s circle, use of cryptocurrency is not become familiar, so i need fiat to make them useful for my daily needs.

We need both of them but bitcoin give us much more benefit than a fiat currency because the use of crypto is very convenient and it do not waste our time. 

[Maaz sultan 265]

Interesting information about the difference but i thinks that crypto currency is better then flat currencies and give me much profit as compare to flat money . If you have flat money then this is not give you much profit to hold it and on the other hand the market of crypto currencies going up by the time spending averagely .

[AmjadBydn 0]

For me I think one day more and more and more people will know about this forum ! but I think there are a lot of problems in this forum .. they have to improve it

[fo1lluko1l 487]

I think that a good Fiat currency and crypto currency, but the cryptocurrency so far, that is a significant advantage, they are not subject to tax.

[Sapdrx 469]

For me crypto isn't fiat. You cannot pay your taxes and mortgage with it. You first need to convert it to Fiat to make it valuable. Crypto is an investment. 

[Seijcat 747]

Fiat money is more stable than cryptos because no one regulates it. Fiat money is handled by governments they are also more traceable than cryptos, even cryptos now relies on fiat money to survive. But I love both as they are both money, it is good if you have fiat money and cryptos at the same time.

[Imaankhan 208]

On 10/13/2019 at 12:24 PM, 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 i think you are right many countries have their own rules and regulations related to currency due to which they do not allow cryptocurrencies but i believe once they find its benefits they might change their rules.

[Aereen 456]

I personally think that the majority of the world as of today would be preferring to use fiat or real physical money because it is what we are used to and for us we can actually see it, but maybe in the future people are going to use cryptocurrency as how they use fiat today.

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16 hours ago, Shuvroahmed said:

It still does not comply with the terms of the many benefits of crypto currency, so I do not think it can give us its full benefit.

I also think that it can give us many improvements and benefits in terms of work. Because what we gain in the workplace helps us keep that. Good for both jobs.

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51 minutes ago, DarkC said:

Let people decide to use cryptocurrency or paper money.

No problem. We will use both of them because there is no major implementation to be able to use bitcoin on every payment directly.

[mehek380 333]

There's a huge difference between fiat money and cryptocurrency. The amount of fiat money always remains the same but the amount of cryptocurrencies changes on the basis of the market conditions.

[Sid 589]

I agree with the OP that one of the reasons crypto currencies have not been accepted globally is because of rapid price changes. I think for now fiat money is still the star.

[Armcannon 858]

Most people will definitely choose cryptocurrency this season because it's price are increasing now .and investing and storing it may give them more profits on the future than keeping their fiat currency on banks and earn small amount of interest.

[Amirul Islam 382]

On 10/13/2019 at 11:42 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.

We know that crypto and fiat isn’t backed by any product. But we will see soon bitcoin will backed by usdt. And it will start after bitcoin regulation. 

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On 1/31/2020 at 1:31 AM, Armcannon said:

Most people will definitely choose cryptocurrency this season because it's price are increasing now .and investing and storing it may give them more profits on the future than keeping their fiat currency on banks and earn small amount of interest.

It is better to have both fiat and cryptocurrency because both of them are necessary in daily life. We should keep some fiat in our bank accounts to use it in any place that crypto is not accepted. In all other situations where spending crypto is possible, we should use it instead of fiat. The other benefit of having both currencies is that we can increase our fiat balance by trading cryptocurrency and convert our profits to fiat. We can also trade with fiat in stock markets and convert stock profits to cryptocurrency. By doing this, both our fiat and crypto investments will grow at the same rate.

[bean 515]

Cryptocurrency is better with cryptocurrency there is no need for a middle man like a bank to process your funds or to do your transaction, you are in charge of everything and it makes thing faster and cheaper for you, flats will be history soon.

[Irungu 4299]

Fiat money will always be there and thats why integration to it is very important, how ever there si a future in trading this market with digital currency, everybody in the world , including young children hav come to accept technology , there are billions of cellphones in the world, and its also important we realize that this is the best market there is, people are gaining a lot in this market and its making world remittance very easy and so its a global thing so its important that we accept it because its already here, but for the fiat, we will only wait and see if its going to be phased off by the incoming.

[Mom0 222]

For now it's money because we earn cryptocurrency but we couldn't use it for our real world we still need to use Fiat while buying things and all other stuff the world but I am sure one day Crypto currency is going to be the future currency and it will make us proud

[Sumayya 493]

19 hours ago, RightEye said:

Well the crypto currency is something new and very has so much potential to be go top but still the the Fiat money is something can't be replaced that easily. 

Well the crypto currency is something new and very has so much potential to be go top but still the the Fiat money is something can't be replaced that easily. 

Yes it can not be replaced easily. But maybe in future when there is no option left it will be upgraded