Post
Topic
Board Bitcoin Discussion
Re: Why is crypto is better then fiat?
by
Sanugarid
on 25/05/2020, 13:38:13 UTC
Fiat is manipulated by governments/banks to control & have power.  Whales heavily manipulate crypto. By switching to crypto, isn't it just handing the control & power from governments/banks to a small group of wealthy whales?

Fiat is not entirely manipulated by government just for control and power. That idea is very narrow. You should think that in general, fees or I guess let us put as charges for any transactions to happen. It is like a key in order for some things to function.
I disagree on this, fiat as the currency that we are using right now is heavily regulated by the government, that means they have the control over it. What I think you are trying to say is that once you got the money, the government has nothing to do with that, but that's incorrect. The government can do whatever they want but they need to follow the rules, law and the constitution that their people needs to have. The government are regulating the currencies by using banks and central banks, these organization can just print money out of thin air.

Compared to cryptocurrencies, we can't justify which is better considering its acceptance in the society.
It makes it more convinient.
For cryptocurrencies the acceptance is massively earned by bitcoin since it is the most recognized and adopted ones. But then I'll stick with my principle on this, neither fiat nor crypto is better.