Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country, so from my research I find out that government just disliked cryptocurrency for nothing,
So differentiating fiat from bitcoin is valueless because irrespective the importance and massive adoption of fiat currency from its existence before cryptocurrency, it's obvious that fiat is money and bitcoin is money, their functions and contribution in society never depart from each other, so bitcoin now is the shortest way of transactions across the world without much process or procedures, using bitcoin everything buyable is easier to purchase without stress, so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.
So differentiating fiat from bitcoin is valueless because irrespective the importance and massive adoption of fiat currency from its existence before cryptocurrency, it's obvious that fiat is money and bitcoin is money, their functions and contribution in society never depart from each other, so bitcoin now is the shortest way of transactions across the world without much process or procedures, using bitcoin everything buyable is easier to purchase without stress, so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.
I will express my opinion. Bitcoin is not a CURRENCY. Cryptocurrencies are just a "wrapper" for a technology that, in a sense, can be used as a means of payment. For today - nothing more. It will become a local or global currency only after:
- will be officially adopted
- will be devoid of technological drawbacks
I clarify:
1. Official status - guarantees the acceptance of cryptocurrency in all objects that sell goods or services. Everything else is the use of payment surrogates. The problem is that such payments are essentially illegal and do not guarantee your safety by law. There is already a partial intersection with another point. Total - without official status - you have a set of some data that you can send to some holders of the same data
But no one guarantees you anything! No matter how much bitcoin costs, you cannot now go to a restaurant and pay with bitcoin there. Or to the market. Or a child's education. Or medications for treatment ...2. Technological problems. This is kind of a trifle, but it can become a noticeable problem with massive use. For example, let's think of a problem like a mistake in the recipient's address. You sent to the wrong address while paying for the purchase of the selected apartment! What's next ? If the owner of the wallet is a conscientious citizen, there is not a zero chance that they will be returned to you. And if this is not the most conscious wallet owner? What if this address does not exist at all? The second drawback is anonymity. Yes, that's right - the state will not be able to use the anonymous system! No way! The state has one obligation - control of income, expenses, and tax collection
Therefore, the advantage of anonymity turns into a disadvantage. There are many more arguments at this point ...In a word - in the form in which cryptocurrency exists now - it does not replace fiat