Ninjastic
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Board Bitcoin Discussion
Re: Is Bitcoin better than Fiat?
by
anti-dot
on 18/05/2021, 22:08:54 UTC
Quote from: Andrews193 on May 15, 2021, 03:52:03 PM
Quote from: indo1 on May 15, 2021, 12:43:49 PM
Quote from: Abiky on March 19, 2021, 06:22:22 PM
For the first time in history, money is separated from the state. Bitcoin aims to be an alternative to Fiat currencies by providing financial inclusion to anyone, anywhere in the world. A system governed by mathematics and cryptography will put an end to corruption once and for all. The pioneer cryptocurrency can be used globally without limitations thanks to its decentralized model. People can send cross-border payments in minutes without the need for ID verification, background checks, or credit checks of any kind. This brings a whole new era of financial sovereignty as we know it.

What do you think? Is Bitcoin better than Fiat? If not, why? Is it still too early to tell? Your input will be greatly appreciated. Thanks in advance Smiley

Bitcoin covers fiat's current shortcomings. I think bitcoin is a modern currency with no controls that interests him is limited bitcoin. Makes a lot of people want to learn bitcoin technology. However, bitcoin has limitations in terms of its current backup. If someone loses a wallet. no one can find it.
I don't know what will be the shortcoming of Fiat because the basic features, even some higher demands on the services, Fiat always provides enough for every user, money transfer is also very fast, payment is also safe, lending service is also reasonable while bitcoin only impresses with lack of control and madness in value. Better price is a strong point but comparing range and serviceability, fiat is still the factor that contains more satisfaction

Ever transferred money on a Thursday to somebody in the US? If you are lucky that person receives the remittance by the middle of the next week. That is not what I understand as very fast. What if your remittance gets further scrutiny or even stopped or frozen? If you have international transfers the rate you get is inferior to actual market exchange rates, hence banks take a cut of your transaction in addition to the obvious transaction fee.