Bitcoin vs Fiat : A war between Scarcity and infinite printing

[Zanab247]

BTC was not created to be at war against money and it will never be at war against money, but bank officials and some people who don't understand what BTC is all about will be spreading fake news about BTC to scared other people that want to show interest. Government have the power to control money or to instruct the Central bank governor to print more money to end inflation but government don't have power to instruct to mine more BTC because is a decentralized currency.

The reason why governments will not accept to stop BTC in their various countries is what they saw during COVID-19 that made money and other things to disvalue, but BTC was still standing strong to help users to deal with the hardship that was affecting citizens.

[bubilas]

Fiat money loses value over time because governments can keep printing more of it. That’s why we see inflation and rising prices. Bitcoin is different because it has a fixed supply of approximately 21 million coins and no one can create more. This scarcity makes it strong and valuable over time, While fiat rewards spending and debt. In a world full of printing and financial instability, Bitcoin offers a simple but powerful alternative: money that can’t be diluted.

One loses value and one protects it. Which would you choose ?

These are the laws of life, according to which some people gain power through force or intrigue and then dictate their rules to everyone. Previously, the government still tried to adhere to moral norms by tying money to the gold standard. But after Nixon, this entire system collapsed, and dollars became nothing more than a huge pile of paper, which (ironically) has not lost its significance in the world. Apparently, the dollar has crossed the threshold that makes everyone believe it is the strongest currency in the world. Yes, the US has done a lot to achieve this, and it's funny how a country without exceptional resources was able to convince the whole world that its national currency is a global miracle.

[FortuneFollower]

The real war is not Bitcoin versus fiat, it’s education versus ignorance, fiat keeps working because people trust it by default, Bitcoin forces you to take responsibility for your money, fixed supply is powerful, but it also comes with volatility and discipline.

The worst part for me is that institutions try to inject themselves where they probably shouldn't - into crypto too, so that even your coins become basically not yours..

But it's an inevitable process of the adoption, their interest and services they are going to offer.

[purple_sparkles]

The real war is not Bitcoin versus fiat, it’s education versus ignorance, fiat keeps working because people trust it by default, Bitcoin forces you to take responsibility for your money, fixed supply is powerful, but it also comes with volatility and discipline.

The worst part for me is that institutions try to inject themselves where they probably shouldn't - into crypto too, so that even your coins become basically not yours..

But it's an inevitable process of the adoption, their interest and services they are going to offer.

I think there’s a strong possibility that fiat money will soon function mainly through online payments, and cash will gradually disappear from our lives. This would make it easier to collect data about people and manipulate their behavior. Linking fiat systems to technologies similar to cryptocurrencies, such as bitcoin, could enable this, although bitcoin itself is much harder to track in terms of individual purchases and user behavior analysis.

[Synchronice]

Fiat money loses value over time because governments can keep printing more of it. That’s why we see inflation and rising prices. Bitcoin is different because it has a fixed supply of approximately 21 million coins and no one can create more. This scarcity makes it strong and valuable over time, While fiat rewards spending and debt. In a world full of printing and financial instability, Bitcoin offers a simple but powerful alternative: money that can’t be diluted.

One loses value and one protects it. Which would you choose ?

Bitcoin is not an alternative of fiat. It was meant for solving e-commerce financial problems and some other things, it was never meant to compete against fiat because fiat is absolutely a different system and has nothing to do with Bitcoin, nor Bitcoin has to do anything with it. Bitcoin can't accept billions of transactions every day, it can't offer as simple payment option as paying via cash, there is no Bitcoin's cash form. Bitcoin is a superior option for saving money compared to fiat, that's it!

The idea behind unlimited supply fiat was to print more of it to match the growing economy and provide liquidity for that. In fact when fiat supply is increased and that fiat goes into production, it doesn't cause inflation. The time when it causes inflation is when the governments print more fiat to cover their own budget deficit, which is theft in broad daylight. This is causing inflation.

As for bitcoin, apart from its capped supply the more important characteristic in my opinion is its decentralization that has also helped it be censorship resistant. All these principles have made Bitcoin so valuable and a unique payment system that keeps growing.

There can be many good ideas behind anything but the government only does whatever it wants and only sees light in a thing where it wants to see. If they don't want to see the light, they'll focus on all the negative sides. To my mind, fiat should be regulated in a way that if the society shrink, money that is in the circulation, has to shrink too and if the number of the population increases, it has to increase too. The productivity of the population should be kept in mind too. If the productivity increases at higher rate than the population shrinks, they still need more money in circulation. There are many other factors into this too.
2-3% inflation is acceptable but in most cases, it's never 2-3% and it's more than 10%, that's why government-set inflation sucks.

[shield132]

Fiat money loses value over time because governments can keep printing more of it. That’s why we see inflation and rising prices. Bitcoin is different because it has a fixed supply of approximately 21 million coins and no one can create more. This scarcity makes it strong and valuable over time, While fiat rewards spending and debt. In a world full of printing and financial instability, Bitcoin offers a simple but powerful alternative: money that can’t be diluted.

One loses value and one protects it. Which would you choose ?

Fiat is controlled by the government and used by every living human being. What's used by everyone for keeping their savings, is automatically a bad thing. I mean that everyone saves fiat when they want to save money, it alone means that fiat is not a good. Bitcoin is new, requires a computer or a smartphone and an internet connection, it also requires some knowledge to buy it, which makes it more complicated to buy and hold but it's a good thing because it attracted tech-advanced people at first and made a great possibility to earn a good money. As time goes on, more and more people become aware of Bitcoin and learn how to buy and hold it, so for us, it's a good investment option because another generation of investors is guaranteed to come, which will automatically increase the price.

[yixichloro2xx]

I rather go with Bitcoin as my choice, I am not interested in Fiat like that again.Reason why I dont like fiat is because it doesn't appreciate when you save in it, instead it depreciate when there is inflation, interest rate, global tension etc. And moreover you are not the one control your money, it under tight regulations by the government, they give withdrawal limits and lots more. But Bitcoin gives you freedom, control and long term value. Base on its fixed supply it doesn't fall on anybody control it acts on it own, that's why governments are looking for possible ways to put it under their control.

[AmaGold70]

Fiat money loses value over time because governments can keep printing more of it. That’s why we see inflation and rising prices. Bitcoin is different because it has a fixed supply of approximately 21 million coins and no one can create more. This scarcity makes it strong and valuable over time, While fiat rewards spending and debt. In a world full of printing and financial instability, Bitcoin offers a simple but powerful alternative: money that can’t be diluted.

One loses value and one protects it. Which would you choose ?

I would choose both, Fiat currency and Bitcoin have different purpose and they are both valuable. From the beginning of time fiat was designed and meant to be spent on a daily basis while Bitcoin on the other hand wasn't actually designed for everyday transactions like Fiat currency hence the reason why it is seen as the one that has more value than the other, yes fiat currency loses its value over time but I still think that both currencies needs each other in the sense that we hold Bitcoin as a store of value but we still need to convert it to fiat before we make use of it since Bitcoin isn't wildly accepted by most physical stores.

[atookz]

I need to be practical and since I know the contribution of each of them, of course there will be no case where I choose one over the other since they have their own roles and advantage. Fiat as a daily usage and transaction tool and Bitcoin as an insurance of long-term value and an alternative store of value.

In that way, living with fiat and holding bitcoin to preserve wealth value, is that the case these days?

[abaeze]

One loses value and one protects it. Which would you choose ?

In the current situation, I have to choose between the two because surviving on either is basically like swimming against the current. So if fiat is needed, then the need should be met with fiat. And if money needs to be saved from currency depreciation, then Bitcoin is the most logical time to save, although we know that Bitcoin's price volatility is high and short-term investments are risky.

[BlackHatCoiner]

Is there anyone creating these accounts lately that provide no value and just make the most obvious rhetorical questions? I must have seen a couple of similar threads asking the question with the obvious answer of whether you should choose the fiat shitcoins over bitcoin.

I'm sure some rich people have bought bitcoin but I don't think in general the rich people are investing in bitcoin.

We don't really know though, for sure, right? I can imagine that many rich people have enough to retire, and don't concern themselves over questions like "what is money?", but I'd argue that since the biggest problem of the rich rich is to store the wealth they already have, then bitcoin is definitely heard in those areas. Michael Saylor had once said "it's very rare phenomenon to solve every rich and poor man's problem, at the same time."

[lionheart78]

One loses value and one protects it. Which would you choose ?

Why choose one when we can have both?  I agree that Bitcoin is a good store of value even appreciating the value in the future due to its scarcity so I think Bitcoin is good for saving funds to avoid inflation.  On the other hand, due to Bitcoin merchant adoption limitations, Bitcoin is not ideal for day-to-day expenses.  Bitcoin can't be spent anywhere since the availability of merchants that accept Bitcoin is limited.  Fiat is still best for day-to-day expenses because of the availability of merchants that accept it.

So I think  Bitcoin and Fiat currency can go hand in hand. Why make them compete against each other?

[tbct_mt2]

One loses value and one protects it. Which would you choose ?

Why choose one when we can have both?  I agree that Bitcoin is a good store of value even appreciating the value in the future due to its scarcity so I think Bitcoin is good for saving funds to avoid inflation.  On the other hand, due to Bitcoin merchant adoption limitations, Bitcoin is not ideal for day-to-day expenses.  Bitcoin can't be spent anywhere since the availability of merchants that accept Bitcoin is limited.  Fiat is still best for day-to-day expenses because of the availability of merchants that accept it.

So I think  Bitcoin and Fiat currency can go hand in hand. Why make them compete against each other?

If people realize a fact that Bitcoin and fiat currencies will exist together in the future, they will stop to raise this question. Fiat currencies will be changed from traditional, to digital and blockchain forms as CBDC (Central Bank Digital Currencies) in the future, but fiat currencies will not disappear. With the coexistence of Bitcoin and fiat currencies, we have different options to choose for our spendings and depends on time, location and available services with their payment methods, we will choose either Bitcoin or fiat currencies to finish our payment for that service.

There will be altcoins for us to choose together with Bitcoin and fiat currencies.

[Judith87403]

This is a clear and compelling point. Fiat money is established on the ground of trust in governments and central banks, and history reveals that excessive printing ends up eroding the power of purchase. Inflation taxes savers quietly then rewards debt including short term spending. That model is flipped by Bitcoin. The fixed supply, transparency rule, and resistance to manipulation of Bitcoin make it nearer to digital hard currency. It supports saving, long term thinking, and individual responsibility. Yet it doesn't mean that fiat is disappearing anytime soon, since it yet empowers everyday economies. Though as a storage of value, Bitcoin provides security in a system where dilution is now normal. Between funds that may be endlessly built and money having scarcity that is enforced, the choice relies on if you have value for convenience or preservation for tomorrow.

[Hamza2424]

One loses value and one protects it. Which would you choose ?

I have to chose both but to save the value of the funds I am holding I have to convert them in to stocks, forex, or gold, or bitcoin because keeping them in the local currency means losing value but it is also not so true because if your country's economy is good and you know that then you are not going to face this problem.

But anything could happen to the economy, so therefore we must follow steps that from the start are in our favor and whenever things go south we know we are already safe and we won't have to panic then.

[ZAINmalik75]

Fiat money loses value over time because governments can keep printing more of it. That’s why we see inflation and rising prices. Bitcoin is different because it has a fixed supply of approximately 21 million coins and no one can create more. This scarcity makes it strong and valuable over time, While fiat rewards spending and debt. In a world full of printing and financial instability, Bitcoin offers a simple but powerful alternative: money that can’t be diluted.

One loses value and one protects it. Which would you choose ?

We love Bitcoin and we have decided to use it alongside, that is the reason why we are all here, right? However, if choosing means using only one, then that's obviously not possible because we have to use fiat as Bitcoin or even other cryptocurrencies because cryptocurrencies are not completely mainstream for now and we have to spend and use fiat currencies at most of the places, maybe there are places that accept cryptocurrencies, but we know that mostly fiat currencies are needed.

When it comes to investments or store of value, of course, we know that cryptocurrencies are better alternatives than anything after fiat, because if we are saving money in fiat, they lose purchasing power over time, and even if you have deposited it in a bank, you will only get a small amount every year as APR or whatever that is called, but with cryptocurrencies, you can make more money if you stay patient.

[moneystery]

From the start, fiat has been a very corrupt and fraudulent system... people who believe that fiat is a valuable asset do not understand that they are actually believing in a system that is built on the basis of non-existence and monetary policy which over time will cause the value of their money to continue to be eroded without them realizing it.
In contrast to fiat, Bitcoin continues to develop and becomes a more valuable asset over time, even though many say that it tends to be volatile and does not have any value, Bitcoin continues to prove its resilience and rebounds stronger after every major correction... and this is why bitcoin is much more worthy of choice compared to the fiat system which is vulnerable to inflation and political intervention.

[free-bit.co.in]

One loses value and one protects it. Which would you choose ?

Why choose one when we can have both?  I agree that Bitcoin is a good store of value even appreciating the value in the future due to its scarcity so I think Bitcoin is good for saving funds to avoid inflation.  On the other hand, due to Bitcoin merchant adoption limitations, Bitcoin is not ideal for day-to-day expenses.  Bitcoin can't be spent anywhere since the availability of merchants that accept Bitcoin is limited.  Fiat is still best for day-to-day expenses because of the availability of merchants that accept it.

So I think  Bitcoin and Fiat currency can go hand in hand. Why make them compete against each other?

Believe me, those who are comparing bitcoin and fiat, or spending their time spreading negativity and making harsh comments about fiat. At the end of the day, they still need and use it for their lives.

Indeed, we all know that they will coexist and each type of asset has a different use case or role in life. No one is forbidding or forcing us to choose between the two, so a comparison is really unnecessary. But it's hard to understand why people keep doing these things.

OP, have you stopped using fiat and now only use Bitcoin?

[Patikno]

From the start, fiat has been a very corrupt and fraudulent system... people who believe that fiat is a valuable asset do not understand that they are actually believing in a system that is built on the basis of non-existence and monetary policy which over time will cause the value of their money to continue to be eroded without them realizing it.
In contrast to fiat, Bitcoin continues to develop and becomes a more valuable asset over time, even though many say that it tends to be volatile and does not have any value, Bitcoin continues to prove its resilience and rebounds stronger after every major correction... and this is why bitcoin is much more worthy of choice compared to the fiat system which is vulnerable to inflation and political intervention.

While fiat was once backed by gold, but over time, it is no longer. I believe this is what is causing fiat to erode in value or be directly impacted by inflation. Cmiiw. Furthermore, fiat can be reprinted, and further depleting its value. That is why fiat isn't suitable for long-term storage. Bitcoin, on the other hand, can't be reprinted, and its scarcity further makes its value resistant to long-term inflation. Furthermore, the problem of lost wallets makes Bitcoin increasingly scarce. Therefore, Bitcoin is a more suitable long-term savings option than fiat.

[DanWalker]

While fiat was once backed by gold, but over time, it is no longer. I believe this is what is causing fiat to erode in value or be directly impacted by inflation. Cmiiw. Furthermore, fiat can be reprinted, and further depleting its value. That is why fiat isn't suitable for long-term storage. Bitcoin, on the other hand, can't be reprinted, and its scarcity further makes its value resistant to long-term inflation. Furthermore, the problem of lost wallets makes Bitcoin increasingly scarce. Therefore, Bitcoin is a more suitable long-term savings option than fiat.

The gold standard was abolished in 1971 because it was no longer suitable for the modern economy.

Inflation isn't inherently bad, it only becomes bad when it gets out of control, and that's what we're experiencing. Governments have completely failed to control inflation, and this has led to a severe devaluation of fiat. Therefore, fiat currency is only suitable for spending, it is no longer suitable for use as a store of value.

Meanwhile, Bitcoin is suitable as a store of value or investment because, with a fixed supply, its value will increase over time compared to fiat. However, it is not suitable to completely replace the role of fiat. Using Bitcoin as currency would bring our world back to the gold standard era. It would be a world that not many people would want to return to.