This is purely opinion until there is ample evidence to illustrate that decentralized cryptocurrency will produce a greater percentage of illicit
activity than fiat currency.
As there are not many arguments why Bitcoin is a better store of value or unit of account
than fiat currencies like euros or dollars, it is obvious that as a method of payment Bitcoin is superior to fiat currencies, due to lower costs, nearly perfect divisibility and social inclusion to name but a few.
At the World Knowledge Forum held in Seoul on October 17, Billionaire investor Tim Draper, who has been one of the key angel investors in the Bitcoin and cryptocurrency markets since 2014, stated that Bitcoin and other cryptocurrencies are much
better than fiat currencies.
As the globe continues to evolve and become more digitally interconnected, the popularity and demand for currencies
other than fiat currencies should continue to grow, as citizens seek personal financial security, independent of the domestic government policies and events in their home country.
«In the long term, we think crypto - to - crypto trading has more
potential than fiat currencies because of the large number of trading choices that can be available.»
Cryptocurrency is supposed to be much
safer than fiat currency like dollars or pesos because blockchain tokens are harder to steal.
Furthermore, with a stable cryptocurrency you can have remittance, ATMs, currency conversions and many more financial services with lower
fees than fiat currencies, so there is still a long road ahead.
A quick analysis of trading volumes shows that more than 72 % of the activity took place on XRP / KRW exchanges, which explains why XRP moved less relative to
BTC than fiat currency.
It's currently more
divisible than fiat currencies, and it's possible to update the protocol and increase the divisibility in the case that bitcoin increases significantly in value.
Despite dealing in a digital currency that is far more
transparent than any fiat currency ever will be, These decisions — to be approved at the G20 meeting in Lima later today — may very well influence Bitcoin companies once again.
Recent reports, including this Los Angeles Times article, have detailed how all types of homes being placed on the market for cryptocurrency rather
than fiat currencies.
«The marriage of cryptocurrencies and gold enables alternative choices to holding more
than fiat currency,» analysts of the Hutch Report wrote.
Bernanke also pointed out that blockchain technology has raised the interested of central banks, despite the fact that it is more «anonymous»
than fiat currencies.
Meanwhile, bitcoin has been more relatable in design to precious metals, particularly gold,
than fiat currency.