Why Bitcoin is Better than Fiat Money

Let's not forget why we turned to bitcoin when we got fed up with the traditional banking system. We wanted something different from the government-controlled financial mess. Choosing bitcoin wasn’t just a random choice; it’s about wanting control over our money and managing our finances without relying on third parties or any centralized authorities, whether they be governmental or otherwise. The need for financial freedom is obvious, and it's something the government won't give us. We’ve got to take it for ourselves, and that’s why we favor bitcoin over any old-school currency. We’re after lower fees for international transactions, more privacy, and the ability to manage our finances ourselves. I stumbled across this while browsing and thought it might be a helpful reminder for some about why adopting bitcoin is a win compared to fiat. Check out the image below for some interesting info.

Sometimes newbies can misunderstand the deflation that exists in BTC. My bros once asked me that he saw information on the internet that said BTC was deflationary, he continued the conversation by concluding the BTC supply could decrease, like 21,000,000 to 20,000,000 someday. I then responded by saying that his understanding was wrong, BTC deflation is not like classical economic theory, deflation in BTC refers to its design, 3 examples are: (1) Limited supply. (2) Inflation level is getting lower & lower over time. (3) Possible shrinkage of effective supply.

@lovesmayfamilis, should we call this one name impersonation or what should it be regarded it as if not for the rank and the AI wall of text? I could have been convinced I’m reading a comment written by you. Quilibot marked the comment by the user as 100% AI generated. archive

Bitcoin was made specifically to give you total control over your money through system which is mathbased, and spread out, such that no government or bank can print more or tell you how to use it. Unlike old money, which loses value since governments can print too much, Bitcoin is limited to 21 million coins, which is asset that protects your wealth in long term. By switching to Bitcoin, you are leaving system that is based on borrowed money and moving into new system, Freedom Money, that has cheaper global payments and privacy. At the current price of about $68,000, longrun buyers continue to buy more on belief that there is mathbased shortage in system as shown formula in photo, instead of the trillions of dollars of world debt that exists in regular money world.

Are you serious? Or are you experiencing vision problems? In that case, put on your glasses immediately!  I think I really stepped on someone's toes, and this bastard wants to get back at me. But you, Hazink, apparently are just waiting for the moment when there are fewer people catching cheaters. I think you're part of the group that's on their side.

I like Bitcoin but I don't want to see it in any comparison as hard money vs weak money. Let's compare Bitcoin vs fiat currencies, that's it, and later in comparisons, we can compare biggest differences between Bitcoin and fiat currencies. The bullish case for Bitcoin. How is the 21 million Bitcoin cap defined and enforced? Bitcoin is limited, fiat currencies are unlimited and can be printed or minted (with CBDCs) by governments. It's biggest difference between Bitcoin and fiat currencies in total supplies. Other differences are decentralization, self-custodial, full control of your coins. No risk of censorship, seizure of bitcoin in your non custodial wallets. Just these things are enough for me to choose Bitcoin over any fiat currency. Why was the post quoted here? I don't see the post in this thread, why it was quoted here, and I see it is like an off-topic quote. I don't know where Hazink got this post from, it's a weird quote from Hazink. I don't know what Hazink posted.

@Hazink, please you guys should stay on course and avoid off-topic discussions here, you started it all and I don't see a reason why you should quote what was not being discussed here from another user to this thread, or was that also a mistake by you? In case you are forgetting, what we are still discussing is the benefit of Bitcoin over Fiat, should in case any of you have issues or something in mind against each other, the best place to discuss that is the reputation board. @SeriouslyGiveaway, I like your approach on this manner, Fiat shouldn't be approached as a weak money because that was what all of us at some point strongly depend on, not only that, is still directly or indirectly make use of Fiat even to this time on our daily activities, however, I think the reference to the image source got more naive to have used such tone in expressing their differences, which something better could have been used in place of fiat being a weak currency.

Both have their use cases, but BTC can do what fiat cannot - and this gap will be bigger and bigger, imo, with fiat bloating and becoming overall.. more of a tool for control than it already is.

Ofcourse, more emphasis should be placed on this and other principles, which in combination should be driving adoption, in order to avoid having too much people who choose bitcoin for the wrong reasons, filling up this space, while not caring too much about the direction it's moved to as long as they're making lots of money. And freedom comes with lots of responsibilities, which is basically why Bitcoin is more suitable for people who deserve to be free and live safely on their own seperate system otherwise the governments will still be needed for control and security

You are right, there are alot of things we can enjoy from bitcoin that is not possible with fiat, but unfortunately, in this present generation we live in, bitcoin alone can't serve humanity without fiat and this is due to how the traditional monetary system have eaten deep into the lives of some people in our different societies.. I personally know of a lot of people who will never touch bitcoin until the pass on because they believe it's fake money, that is, their claim is that the money they can not see with their eyes and hold on their hands isn't original money but scam money.. This understanding i would say is born out of illiteracy but then it's still what it is and as long as this type of people continue to exist in our communities around the world, the need for fiat to continue to exist will always be there.

The benefits of Bitcoin is very clear and the clarity is getting bolder by the day, before now only a few people like the economists understands that fiat in the bank is prone to depreciation, your money in in the bank cannot be the same value in the next 10 years. It was the birth of Bitcoin that opened people's eyes that due to government's unlimited authority to print more money that their money is losing value as the supply increases. Bitcoin limited supply makes it a hedge against inflation to fiat and it's decentralization gives it's holders total privacy in a none custodial wallet, your Bitcoin is your property anywhere in the world. Most importantly Bitcoin is a store of value, a currency and asset that can give you profit if you hold for many years, this is however the major reason why people don't spend their Bitcoin they will rather hodl it and spend fiat.

If we compare Bitcoin to fiat currencies, it is significantly superior. Besides the points outlined in the figure, I would like to add that Bitcoin cannot be counterfeited. We often see news reports about counterfeit money, even fake money that looks exactly like the real thing, and I find it very difficult to compare it with the real thing. Bitcoin, on the other hand, cannot be counterfeited at all; everything is recorded in a ledger, and no one can control it, whether by increasing or decreasing the amount. Therefore, Bitcoin is indeed the right choice for any purpose, including investment or as an alternative currency.

I clicked on the quote with hopes of being referred to the original post and thread of origin but, it seems to be none existent at this time which makes me question just how it got there or perhaps, the user to have imported this quote from wherever just wants to propagate some serious propaganda that would rub mud on the face of users to have being known to ensure and encourage healthy discussions on the forum. It’s so no right if that’s the case here and such shouldn’t be allowed either. Where did Hazink lift this from? Oh wow! I see in the archives referenced that a similar username was created for @Lovesmayfamilis and the characters ‘is” was substituted for “ys” just to make this closer to the original, this is wrong!

There are so many benefits Bitcoin has over fiat currency and  that is one of the reasons why people are investing in Bitcoin because they do have to depend on bank everytime for their transactions to be completed due to the way banks are freezing their customers accounts due to various reasons. Bitcoin is decentralized while local currency is centralized. Bitcoin is not controlled by local or any government authorities. No regulation also.

Wanting freedom but still stuck in the wrong paradigm. The closest example is still underestimating security and tending to be afraid if the price of Bitcoin remains at its current level, because last year Bitcoin was still strong at $100k. When this happens, people still think that if they hadn't put their money in Bitcoin and it was still intact in their bank accounts, maybe their finances wouldn't be like this. Privacy is something we all desire, but not everyone in many countries is able to maintain privacy beyond this. In the more real sector, submitting KYC is a common thing.

In the long run btc always beats FIAT and that's its biggest feature imo. Everything else is a bonus. Sure you can carry your wealth with you and nobody will notice, yes you can send money overseas and nobody can stop it, you can sell/buy stuff without needing banks... These are good features without a doubt but the main thing is that btc has been gaining purchasing power while FIAT is losing it. Sure btc took some beating recently but it always recovers. See you at $500k in a few years. That's nearly x10 from here.

The logical comparison of having Bitcoin as benefit over fiat is that it has a limited supply. Not all will have Bitcoin, while all can have fiat and it has to deal with inflation. Whilst for Bitcoin, it is deflationary asset that people will figure out later. Owning a bitcoin now is a luxury because it's a sought after investment. Unlike before when it was not getting any attention and cheaper, not many takers are there. But now, look that even the financial institutions are chasing after it because they know that the value of it will increase for the next years coming.

One thing I think is important when comparing Bitcoin to fiat is separating monetary policy from infrastructure utility. Fiat is flexible by design. That flexibility allows governments to respond to crises but it also introduces long-term inflation risk. Bitcoin, on the other hand removes discretionary policy entirely. It trades flexibility for predictability. The real benefit isn’t just “hard money vs weak money”, it’s that Bitcoin is neutral, borderless and permissionless at the protocol level. Whether that becomes dominant depends less on ideology and more on real adoption, security and network resilience.

This will be actually a wrong assumption and might also be a wrong decision then, because if they have left their money in traditional banks I think they would still have same figure of the money but let’s realistic that would be less in purchasing power as we have now. $100 in fiat currency two years ago would have reduced in purchasing power by now but that doesn’t translate to bitcoin because it is not affected by inflation. Investing in bitcoin you only lose only when you convert to fiat currency. Bitcoin transactions are not private though they actually just provide anonymity but the transaction is actually public on the blockchain

My number one benefit of Bitcoin over Fiat is the ability of Bitcoin to give back return of investment. The majority do not consider Bitcoin just for it's monetary value, the biggest part of benefits is that Bitcoin can be held the same way as fiat and in a time duration be able to give back profits, unlike Fiat that will only suffer inflation, Bitcoin covers so much dip, yet when it gets to the bullish season, Bitcoin creates a different ATH to profits earlier investors. There are other positive benefits from Bitcoin, I also like the fact that Bitcoin can be sent through borders without needing supervision from the government or long hours of wait, in few minutes with a 2 block confirmation on the blockchain, you confirm the transaction.