Post
Topic
Board Bitcoin Discussion
Re: BTC vs USD - Which one is better?
by
diahsw
on 20/07/2019, 10:40:01 UTC
These guys have some interesting stuff going on here https://cryptotradernews.com/cryptocurrency/bitcoin-vs-usd-for-storing-value-purposes/

Today, I would personally pick USD as it can be used world wide and for a variety of purposes. However, if BTC were to stop being JUST a speculative asset I would contemplate making the switch. I like being in control of my cash without having to depend on some greedy bank!

Thoughts?

Conventional currencies such as the US Dollar have some disadvantages. However, many people underestimate these weaknesses because so far there are no competitors that are strong enough to doubt public trust in conventional currencies. Well, the emergence of Bitcoin as a crypto currency circulating on the internet is slowly able to shake that belief. The reason is none other than the ability of Bitcoin to "patch" the shortcomings of conventional currencies. Because Bitcoin does not have an intermediary, transactions can be done without any limits. Compare it with financial transactions that are usually facilitated by the Bank, credit card companies, or e-payment systems such as PayPal. There is always a minimum and maximum transaction limit applied by intermediary bodies like that. then when the wire transfer takes days to complete the transaction process, Bitcoin only takes about 10 minutes. The characteristic of Bitcoin as a digital currency is what makes this possible.
 And of course Bitcoin isn't circulating as paper money or even coins. The shape cannot be touched because Bitcoin is a digital currency. On the other hand, conventional currencies are easily damaged because most are in the form of paper money. In some countries, the money has lost its alias value no longer applies if the damage is too severe.