Quote from: Slow death on Today at 11:53:22 AM

Quote from: Kasabus on February 13, 2022, 09:02:33 PM

Quote from: Slow death on February 12, 2022, 09:52:43 PM

bitcoin has many advantages

fiat has many advantages

That's why I don't see any reason to make comparisons.

for example:

fiat is recognized by governments which allows it to be used in countries, everything you buy uses fiat, people receive a salary using fiat, but there are maximum values for walking on the street with fiat, something that does not happen with bitcoin where the person can be their own bank

All these advantages will be happening to bitcoin soon if the massive adoption will continue. It may not replace fiat, but its a good alternative for fiat in the future. For now, the best advantage of bitcoin is to have it for financial freedom. And this is rare to happen in fiat, as inflation continue to depreciate the value of fiat. And while fiat is closely monitored by the government, with bitcoin you can have limitless opportunities without the authority monitoring it.

we definitely won't see these advantages anytime soon in bitcoin, to be more precise bitcoin still has a long road to go before catching up to fiat. for example how would people receive salary and pension in bitcoin? even if it is 3 years from now it will still not be possible... bitcoin still needs to be legalized in many countries, currently the number does not even reach more than 10 countries that have made laws about bitcoin.

The only benefit what people may possibly look at for now is the potential to gain more value over the years but even if that's the case we still have downsides which caught up many newbies. Maybe those other technicalities is not so appealing with big companies to use for means of payments as well as for normal workers to receive it due to hassle it may bring but maybe in future once government settled up and successfully regulate it maybe we can see this one get a good global adoption and can be declared as legally alternative to fiat.