Quote from: o_e_l_e_o on February 12, 2023, 02:09:58 PM

And if your fiat currency collapses? What use is getting your money back from the government if it is only worth 1% of what it was worth when you deposited it? There are many many examples of fiat currencies rapidly devaluing so as to be almost worthless. There are plenty of such examples going on around the world right now.

Almost all currencies around the globe have lost significant value over these years even if we speak about the top economies also like $ and also because they are not counter to inflation but bitcoin is deflationary in nature.Your fiat currency can collapse anytime with growing inflation and government printing more money out of thin air making the existing one worthless.As he said government will give you back money if anything happens to bank but that's the case with government banks not the private one's but also they will return say about certain amount if anything happens to bank and people don't realise what they will do for the fiat when it will be worthless?

As we have seen in countries like Vietnam does your fiat can buy you anything good? When people are throwing away these notes as million dollars don't get your toilet rolls also so are your funds in bank safe? So we need to realise this fact as soon as possible and move to coins like bitcoin for our future security if we care to look it at and fiat is not going to save you.

Quote from: o_e_l_e_o on February 12, 2023, 02:09:58 PM

Fiat is printed at will by centralized governments to pay their own debts and stealth tax their citizens. I don't trust it at all.

These things people don't realise until they reach that point where they find the actual truth of the government how they are controlling the monetary system of the nation and printing more money just to pay debts and then shifting the burden on the general public.The fiat has trust because it is in existence from lot of time and banking system but with advancement we should look at new ways also and trusting them is a mistake which should not be avoided.

Quote from: PhoenixZephyrus on February 12, 2023, 12:55:50 PM

Why would someone want to leave that convenience and want to move over?

Okay as you said about UPI transactions then yes it's lot popular in countries like India and after the Covid time there are huge daily transactions worth thousands crore but there are certain restrictions also like you can't send over 100k as it's the daily limit for them and if you see you want to send money to someone above this limit you have to go through normal banking transactions.Second they are not direct payments and your bank is intermediary acting as third party to settle down the transaction and can block it or sometimes the servers don't respond so what's in this case? Third you are just using digital mode of payment of your bank but still you have fiat in your bank which is not going to give you any return but on other side bitcoin can give your profits as well in long term when the prices rise so are people not ready to get with it?

Quote from: o_e_l_e_o on February 12, 2023, 02:09:58 PM

Security, privacy, censorship resistance. You are entirely dependent on the underlying bank or other fiat payment processor for the security of your coins.

Exactly the UPI payment mode @OP is refering to is attached to your banks and you have to link your card details with it first of all to make payments so in reality you are sharing all the details with them and we know how these platforms have bad reputation in exploiting the user data so security and privacy is major concern with these apps.Moreover your each transaction is monitored by the government knowing also what you are eating when you pay for pizza with it having more control over you.They are earning lot of taxes also with it and people have convience of making payments but not know you are still under their control so what safety do you expect from them?