Bitcoin Wallets – All Aspects Explained

Bitcoin … Monetary Nirvana?

If you don’t know what Bitcoin is, do a little research on the internet, and you’ll get a lot … but the short story is that Bitcoin was created as an exchange, without a central bank or an issuing bank. being involved. In addition, Bitcoin transactions must be private, that is, anonymous. Most interestingly, Bitcoins have no real-world existence; they exist only in computer software, as a kind of virtual reality.

The general idea is that Bitcoins are ‘extracted’ … an interesting term here … by solving an increasingly difficult mathematical formula — it’s harder as more Bitcoins are ‘extracted’; again interesting- on the computer. Once created, the new Bitcoin is included in an electronic “wallet”. Then it is possible to exchange real goods or Fiat currency Bitcoins … and vice versa. Moreover, since there is no central issuer of Bitcoins, everything is highly distributed, so it is resistant to being “managed” by the authorities.

Naturally, proponents of Bitcoin, who benefit from Bitcoin’s growth, loudly stress that “sure, Bitcoin is money” … and not only that, it is “the best money ever, the money of the future”. etc … Well, they shout as loud as Fiat’s supporters that paper money is money … and we all know that Fiat’s paper is not money at all, because it lacks the most important features of real money. The question, then, is whether Bitcoin also fulfills as money … it doesn’t matter if it’s the money of the future or the best money ever.

To find out, let’s look at the attributes that define money, and let’s see if Bitcoin meets that. The three key characteristics of money are;

1) money is a stable store of value; the most essential feature is that numerical functions or units of measure of value fail without value stability.

2) money is cash, a unit of account.

3) money is a means of exchange … but other things can also fulfill this function, that is, direct exchange, the ‘networks’ of exchanged goods. Also ‘commercial goods’ (chicks) of temporary value; and, finally, the exchange of mutual credits; that is, clearing the value of promises fulfilled by exchanging invoices or IOUs.

Compared to Fiat, Bitcoin does not do badly as a means of exchange. Fiat is only supported in the geographical domain of its issuer. Dollars are not good in Europe, etc. Bitcoin is internationally supported. On the other hand, very few merchants support the payment of Bitcoin. Unless acceptance grows geometrically, Fiat wins … albeit at the cost of exchange between countries.

The first condition is much harder; money needs to be a stable store of value … now Bitcoins have gone from a $ 3.00 ‘value’ to about $ 1,000 in just a few short years. This is as far from being a “stable store of value”; as you can get! In fact, such gains are a perfect example of a speculative boom … like Dutch tulip bulbs, or like mining companies or Nortel shares.

Of course, Fiat fails here too; for example, the U.S. dollar, the “main” Fiat, has lost more than 95% of its value in just a few decades … neither fiat nor Bitcoin meet the most significant monetary measure; the ability to store value and store value over time. Real money, that is, Gold, has shown the ability to hold value not only for centuries, but for centuries. Neither Fiat nor Bitcoin have that crucial capability … they both fail as money.

Finally, we come to the second attribute; of being numerary. Now this is really interesting, and we can see why Bitcoin and Fiat are failing as money, by looking carefully at the ‘cash’ question. Numeraire refers to the use of money not only to store value, but also to measure or compare value in a sense. In the Austrian economy, it is considered impossible to really measure value; after all, value lies only in human consciousness … and how can anything really be measured in consciousness? However, through the principle of Menger’s market action, i.e. the interaction between supply and supply, market prices can be set … if only temporarily … and this market price is expressed in cash, which is the most marketable commodity. it is money.

So how do we set the value of Fiat …? Through the concept of ‘purchasing power’ … that is, the value of Fiat is determined by what it can be traded for … what is called the ‘basket of goods’. But it clearly states that Fiat has no intrinsic value, but rather that values ​​arise from the value of goods and services for which it can be sold. The causality goes from the “purchased” goods to the Fiat number. After all, what’s the difference between a dollar and a hundred dollars, except for the number printed on it … and the purchasing power of the number?

Gold, on the other hand, is not measured for what it is in trade; but only one, measured by another physical standard; because of its weight or mass. A gram of gold is a gram of gold, and an ounce of gold is an ounce of gold … whatever number is engraved on its surface, ‘face value’ or otherwise. Causality is the opposite of Fiat; Gold is measured by weight, its own quality … by its purchasing power. Now, do you have any idea of ​​the value of an ounce of dollars? No such thing. Fiat is only “measured” with a transient quantity … the number printed on it, the “face value”.

Bitcoin is far from being cash; not just a number, as much as Fiat … but its value is measured in Fiat! Even though Bitcoin has been internationally accepted as a means of exchange, and manages to replace the dollar as an accepted ‘numeraire’, it can never have an intrinsic measure like Gold. Gold is unique in that its true immutable physical quantity is measured. Gold is unique in preserving value for thousands of years. Nothing else available to mankind has this unique combination of characteristics.

To conclude, although Bitcoin has some advantages over Fiat, namely anonymity and decentralization, it fails in its claim to be money. Its advantages are also doubtful; The intention is to limit Bitcoins ’‘ mining ’to 26,000,000 units; that is, the ‘mining’ algorithm is becoming more and more difficult to solve, then impossible after extracting 26 million Bitcoins. Unfortunately, this prediction could very well be the death of Bitcoin; already, central banks have announced that Bitcoins could become a “bookable” currency.

Wow, it seems like an important step in Bitcoin, right? After all, ‘big banks’ seem to support the true value of Bitcoin, right? What this really means is that banks recognize that they can exchange Fiat Bitcoins in exchange … and actually planning to buy 26 million Bitcoins would cost just under 26 million Fiat dollars. Twenty-six billion dollars is no small change for Fiat printers; it takes a week to print only by the US Fed. And, once you buy Bitcoins and lock them in the Fed’s “wallet” … what good can they do?

There would be no Bitcoin left in circulation; perfect corner. If there is no Bitcoin in circulation, how the hell could it be used as a means of exchange? And, what can Bitcoin issuers do to defend against such a fate? Change the algorithm and increase it to 26 million … to 52 million? 104 million? Enter the Fiat print parade? But then, according to the theory of the amount of money, Bitcoin would start to lose value, just as Fiat supposedly loses value through “over-printing” …

We come to the key issue; Why look for ‘new money’ when we already have the best money, Gold? Fear of gold confiscation? Lack of anonymity of an intrusive government? Wild tax? Fiat’s money laws? All of the above. The answer is not in a new form of money, but in a new social structure, without Fiat, without government espionage, without drones and swat teams … without the IRS, border guards, TSA straws … and so on. The world of freedom is not tyranny. Once that is achieved, Gold will regain its former and vital role as honest money … and not a moment before.

The CombiBar Gold bar is an ingot product manufactured by Valcambi Suisse, with a size of 50 grams, divided into rectangles of fifty – 1 grams, easily broken and in time problems that can be used for emergency payment system.

Gold CombiBars are made in the size of a credit card so that they can fit in your wallet and be easily carried with you when you travel or just during your day.

The first question That might come to mind: “Is CombiBar a scam?”. I assure you it is not. This gold ingot product is offered by reputable retailers of precious metals, made by a reputable company and will pass an examination test if required. In fact, they come with a real trial card.

Each 1 gram Gold rectangle in the Valcambi CombiBar is inscribed with its content and finesse, which is .9999 Fine gold. To determine the present value of a 1 gram piece from a 50 gram Gold CombiBar, simply divide the price of an Ounce of Gold by 31.1035; no accuratebut close enough.

Next question What can be followed logically is: “Do I really need a Valcambi CombiBar Gold payment system; will things ever go wrong?”. Well, the answer to that is “I’m sure I hope not”.

Two things, but (at least), are against us.

One, it’s history. Fiat coins never last. The U.S. dollar is a fiat currency that no longer supports anything that the “full faith and credit” of the U.S. government does. It has lost 92% of its purchasing power in dollars since the 1913 Federal Reserve Act.

Two, it’s topical. Since the current financial crisis began several years ago, the U.S. government’s debt has exploded into waters that are now unknown. A large part of this seems to have been to save strong bank interest. And while it may seem difficult to attribute this mention, it seems correct that there can only be one democracy until it discovers that the majority can vote for itself from the public treasury.

We see economies falling around the world, major uprisings, and governments taking desperate steps to control their citizens with restrictions on monetary transactions, the movement of funds across borders, and Gold itself.

Simply if you don’t have Gold before you need it you may not be able to get it.

Do quite a few people understand real money as gold and silver?

This is a good question. Mark Dines a few years ago couldn’t sell a $ 1200 ounce Canadian Maple Leaf coin for $ 50, then $ 25, and eventually couldn’t give it to anyone passing by on the street.

However, as more diners receive news of offering 1964 menu prices for 1964 coins, and gas stations sell gasoline for ten cents per liter of gasoline if they pay more than a penny before 1965, people are getting the message.

And even if they don’t get the MOST, they may be the ones who get the resources you need.

The BitCoin phenomenon is also making people aware of certain issues. Also note how the German government has launched an attack on BitCoin soon including other governments including the United States.

Fiat currencies don’t like competition at all, much less “real money” or something that shows the weakness of fiat currencies.

Bottom line at Valcambi 50 gram Gold CombiBar.

Whether you need to break the CombiBar Gold 1 gram small bars completely to make payments, the physical property of Gold is still very good. The premium is one or two percent higher than a sovereign gold coin like Buffalo or Eagle.

Consider your CombiBar 50 gram gold bars as fire insurance in your home: you hope you never need it, but if you need it, it’s too late to get it after you light a fire.

It’s a great education book about real money. Mike reviews the strong principles of money that have endured throughout human history. One thing is consistent and that is that Gold and Silver are real money. In today’s fiat world, gold and silver are the tools you can use to preserve and protect your wealth. Mike reviews the differences between currency, real money and fiat money. Fiat currency is basically paper money that protects nothing. We will explain in more detail whether this is risky and the average investor should at least understand the importance of reliable currencies that are underestimated and inflated. With the economic catastrophe of 2008, along with Ireland, Greece and other failed countries, we need to educate ourselves as small investors in order to protect ourselves.

Why is it important to me?

This is important because the biggest transfer of wealth is happening right now and that transfer is moving away from America and not to us. This should be a priority if you want to protect yourself and your family.

A lot of things are happening but 90% of the general public doesn’t really understand it. It’s understandable because the noise between the political leaders of CNN and Fox News diverts real problems. The real problem is this: The Federal Reserve is a private entity that is not regulated and audited. They control the financial system. These guys are the main royal authors who run the country in the background. Thomas Jefferson was admitted to be against a central bank in the United States. For more information on this topic, you can listen to Ron Paul. He’s a Texas congressman on all of these things.

The big changes we’ve seen from the internet boom to the housing boom have been a direct consequence of the Fed. A lot of people don’t know that and some will say it’s wrong. The Fed has kept interest rates artificially low, which has created an inflated housing market. Quiet debts to equity and the massive destruction of financial instruments and other weapons known as CDO and MBS nearly killed the country. Financial education is necessary for these little boys to have a chance. Read this book to open your eyes. One thing that is not said in the mainstream media and is stronger than Terrorism is that if the dollar is lost as a world reserve currency, our total standard of living will be reduced by at least 25%. Right now it’s already tough for 85% of American families. Another transfer of wealth could put the last nail in the coffin. Educate yourself.

There is a lot of information in Mikel’s book. The history of currency underestimation is explained in every major empire, including the Persians, Greeks, Romans, British, and now Americans. Currency cuts, inflation and taxes are the thieves of wealth. If your money is a candle, taxes and inflation are flames that ignite at both ends.

1. Invention – I am not a person of condemnation and gloom. I believe in the strength and determination of the American people. This still does not hinder us all from being educated and the only way to change is from the bottom up. There is no top-down government that can benefit the country in this light. It is the iron horse invention of the American people that will solve our financial problems.

2. Gold and Silver – Gold has been around for over 5,000 years. She has also been known as her red sister Silver. The ratio between the two has historically been 16-1. Personally, I have seen that in the last year the spread has dropped from 80 to 1 to 1 and returns from 40 to 1. What this means is 40 ounces of silver for an ounce of gold. So silver is $ 35 once and Gold is $ 1,500 per ounce. Now – check the reality. Warren Buffett does not invest in Gold. If you’ve been following any of my book summaries, you know I’m a Buffett fan, so let’s see this one. Basically, Buffett says that if he owned all the Gold in the world he would have a 67-foot gold cube (height, width, length by the time you start in major math). He could soften and kiss her and sleep on top of her. Instead of a gold cube, it could have half the U.S. farmland plus 7 Exxon Mobiles plus a trillion dollars in cash. He preferred to take the latter as I did. Basically, Buffett argues that Gold is NOT USEFUL. I agree with him. The silver in the hand is different. Buffet has had silver in the past and can still hold it. Silver has usability because it is used in mobile phones, computers, smart devices, and medical devices. That’s why I love Silver as a resource for saving.

3. Cash Flow vs. Capital Gains – We don’t want to fall into the theory of the big fool and invest in capital gains. As it is truly contradictory, Silver is an investment in capital gains. However, you need to look at all investments from a synergistic perspective. This means that we want investments to flow out of cash flow, but we also want to increase our savings. Robert Kiyosaki says savers are losers. This return means that if you hold on to the dollars, you are losing out due to inflation and falling currencies. That way, you can save your savings in Silver.

Now let’s talk about having “real money” as a protector of wealth. Note: Educate yourself, I’m not saying go out and invest in silver and gold today. I’m saying educate yourself. I invest in silver personally and will continue to do so, but it is highly variable, so you need to be educated. Also, I am not a financial planner and I do not give advice, please do your homework. My goal is to help with that homework.

1. Mountain of Debt – This book was written in 2007 before the subprime accident. Even then the US was buried in the mountain of debt. Since then, the Fed has HIRED the money supply. Thus, this mountain became Mount Everest. This has happened in the last 3 years and that is why the dollar is the lowest ever in 2011.

2. Unfunded liabilities – Social Security, Medicare, Medicaid ……… These unfunded liabilities increase the problem along with the mountain of debt. When you try to give something to someone and then take it away, all hell breaks loose. Look at GM. They went bankrupt, got a government bailout and had to give up all unfunded responsibilities in order to survive. Now they are doing pretty well but the little boy lost his pensions and medical care. Educate your friends. Don’t let other people manage your money … The same will happen with unfunded liabilities with the US. Start planning NOW.

3. Derivatives – We’ve touched on this before, but in summary, here’s what happened in the decay of subprime. About 100 people sat in the rooms and decided to sell MBS (Mortgage Protected Securities) to investors. The problem was, they collected the crumbs and sprayed them with steam and sold them as a triple A tool. Qualifying agencies and the leadership of these companies should be judged. What happened was that a 1-2% move in values ​​could wipe out companies because Leverage was so deep. These guys were taking advantage of billions to earn tens of millions. There are too many zeros for this to work in the long run. As we now know, this was not the case.

In short, what does all this mean? This book and others like it will help you control your destiny. It is recommended that you hold 10% of your assets outside the financial system. This means that there is no risk of opposing parties. When you put all your money in the bank and run in the bank and it fails, the bank is the opposite. Having physical gold and silver as real money eliminates the risk of opposing parties.

I hope you found this short summary useful. The key to any new idea is to practice it in your daily life until it becomes a habit. Habits are created in just 21 days.

One thing you can take away from this book is EDUCATION. Please open your eyes and spend a few minutes each day educating yourself. You will be glad you did.

Wake up to slavery

After waking up ignorant and naive for many decades, I woke up to slavery. No, I’m not talking about being a black American. Nor am I being a brown American. I’m just an American and I’ve met people who are waking up to the reality of a reliable currency, very loose people, all over the world and growing. This Fiat scam has no limits and has not pointed the blame even though a government is making its way to the US. George Orwell was not left out.

I am inflated to know that the current financial situation in the world is due to the fiat currency. Almost every nation uses a fiat currency. SHTF when the sound is heard all over the world. It will be like someone has turned off the lights. In fact, the next catastrophe is usually called the “bubble of all bubbles” and will explode when it explodes. Through personal education, I have learned that we are all working to ensure that the Federal Reserve system continues to thrive. The US currency was NEVER about the citizens by the mere definition of being a fiat currency. Once I understood the meaning of how a fiat currency worked … my world shook. It will never be the same but because I woke up thank God.

Has Fort Knox not had gold?

Fort Knox definitely has no silver !!!

There is no gold and no silver with a reliable value of the US dollar or any country. I can’t “ignore” the reality of the Federal Reserve System. The only cure I have for surviving this ever-widening fiat catastrophe is to personally accumulate silver. I mean I buy silver and close it. If I don’t hold on, I’m not the owner. For me, the only cure for future economic catastrophe is silver. This is only because it is beyond my financial ability to store gold. I buy silver every time a bit of money arrives. One ounce here … ten ounces there. Order it. Wait. Save it. I no longer wake up to being a slave because I see it very clearly now. I woke up and realized that the entire US (and all nations) currency system is a scam. The exchanged system is set up to ensure that millionaires remain millionaires. Most importantly, these millionaires remain powerful as they gain more control over the daily life of the average work trend.

Federal Slavery System

After being ignorant of the financial world for most of my life, I see the danger that America is facing. I once read the book ‘The Jeckyl Island Creature’ in my OOHRAH! it began to turn into an abyss. I felt cheated in my life’s efforts.

The current political environment in the US is fully controlled by the Federal Reserve System. The American people are no longer responsible for their government. Don’t think I’m against the United States of America. I am against the really evil forces that are breaking our nation. These evil forces control the federal reserve. Remember that the Fed is a privately owned bank and citizens do NOT allow (laws) to know who they are. The Fed is NOT Federal and they certainly have no real value in store. The whole system is a ponzi scheme.

A small part of the general scam is social security. They lied to me … so it was all our government lied to us.

Case: If I (and my employer) had only earned a 1% compound interest on Social Security paid money, I would be a millionaire today. But if I die now … where did all that money go? Americans have been robbed of so much money by law.

Think about it in your life!

Think about it and let it sink. SSN is still there when I have the right (if it’s a big one) it won’t be enough for me to retire. WHAT ??? Unfortunately, Americans accept this fact and go looking for a part-time job by renting out their life hours. We need to keep working to ensure that we continue to have confidence in the financial game. The role we win is only valid because we are told so, and yet the role I won and exhausted was taken by the established laws.

The US dollar is the largest bubble in human history. When he goes … everything changes immediately and then he will move on until all the wealth is transferred to the rich. This transfer of wealth will be done through the accumulated silver and gold purchased right now while the price is a joke. I heard that JP Morgan has about 1 billion ounces of silver accumulated over the last ten years. I see the storm so clearly and I’m tired. I worked for decades just to align the pockets of the literal 1%. It took me a few months of research until I realized that I am nothing more than a slave to the whims of people who pull the strings within the Federal Reserve System.

I woke up with slavery

I don’t blame my parents for being slaves because the system exists long before my parents pay taxes. They did not know that they were slaves. My parents really thought the best way to get ahead was to go to college and get a good job. They never understood the invisible slaves who woke up every day of their lives. They thought that if you worked hard you would be rewarded. Unfortunately, that was then and this is now. Corporations no longer care about their employees. Corporations provide lip service and then cover their collective buttocks while finding a legitimate way to get people out of money. Through inflation, all upward mobility is often eliminated before financial traction is achieved. It made me sick when I realized how much money the rich get as a result of inflation … literally, stomach.

Inflation makes the rich even richer

As one person begins to understand inflation they would understand why others wake up. Inflation makes the rich even richer … I won’t go into the reasons why you need to do your research. All I can say is that the really rich people at the top of the money scale get rich when they inflate money. That’s why the Fed has always been a balancing act between inflation and interest rates. The wealthy NEED inflation to continue the full fraud of the Federal Reserve. To really drive this event, let’s look at the history of the U.S. Morgan Silver dollar, which was created between 1878 and 1921. At the time of writing this article, the silver value of each Morgan Silver Dollar is $ 19.10.

The most important thing to realize is that when Morgan started making the Silver Dollar there was no Federal Reserve. This means that when the Morgan Dollar was created it had literally the silver value of a dollar. Try buying an ounce of silver today for a dollar? The value of silver has not increased with inflation over the last hundred years. The reason why silver currently costs more dollars is due to long-term inflation. It has lost about 96-98% of its purchasing power. When a person begins to understand this subtle fact he begins to wake up from being a slave. My dad paid $ 69.00 to feed a family of six and complained to the car … I was at a Walmart today and I paid $ 97.27 for 27 items. It was just a quick trip to pick up the basics, with no meat. I had 4 plastic shopping bags and a clove of garlic bread.

Slave to inflation?

American citizens take inflation as normal because EVERYONE knows about it. If we had memories of previous times we would ask why a bottle of Coke cost a nickel for about 70 years? Before the Fed came …

The price remained at a nickel until the Fed came along. This unavoidable price increase was (and is) because the Federal Reserve MUST have inflation to survive. Without inflation, the rich would not accumulate more wealth. Everything would stop (and will be done) if there was too much or too little inflation. Inflation is the ultimate fat for the wealthy who get an obscene amount of profit.

Do your research.

I think it’s time to wake up?

To say that I woke up with slavery seems crazy to me too. I served as a registered sailor and also as a naval officer. I love America and I see our lives in danger. Personally I can’t stop what is happening with the US dollar and I will go up by doing what the elites are doing. It’s what they’re doing and what they’re not saying … The Federal Reserve is lying every time you open your wallet.

I will no longer change the hours of my life in exchange for a currency that is not worth the day I earned it. (That’s inflation) I’ve realized that fighting is a loser and now it’s time to break the mold. ‘Friends’ thinks I’m crazy because of how I feel and that’s okay. I’m not in the race to have more silver … I’m on the run when the silver price is released and the US dollar fails … I will not regret having to do more.

Do you have silver?

What is happening today?

Today is September 6, 2021. The price of silver is $ 24.77 an ounce. The small 1916 Mercury dime costs about $ 2.50 each to buy. Whatever the state of the coin because it is the value of the silver content and not the humanistic value. In 1916 he bought a penny much more because the dollar was worth something. Today the dollar is worthless. It lost its purchasing power in the last 100 years as a result of inflation. Remember that the Federal Reserve needs inflation to survive.

Until recently, the U.S. exported inflation abroad to foreign nations because it had a perceived reserve value. This perceived value is coming to an end when we are talking. Many dollars are being returned from foreign shores. Other nations and powers see the value of the dollar fall. Do you remember when Moody’s downgraded the US credit rating not long ago?

When that currency returns to America inflation will rise even more. The era of world reserve currency is coming to a methodical end. If you question that, do you understand the importance of losing the privilege of being the world’s reserve currency? When the US loses that title, life will never be the same in America or the world. It’s happening right in front of your eyes.

Crypto currency vs Fiat currency

Do you know fiat currency and cryptocurrency? Both are currencies in one way or another and are open to public use around the world. But they are both different and different in their own way. There is always one group that favors the use of cryptocurrencies, while the other has a smooth corner for fiat currencies.

In a cashless society, cryptocurrency plays a big role

If you take a look at the market in the 1970s and 1980s, cash played a major role. But with the change in technology, electronic transactions have become the norm. Today, more and more people are being affected to become a society without money. With the advancement of a cashless society, cryptocurrencies play an important role.

Crypto currency and fiat currency are always in conflict

Cryptocurrency and fiat currency are popular types of digital currency, especially when it comes to an online transaction. Both are the currencies currently in use in the market but have some differences. There are a lot of ads that you will hear every day comparing cryptocurrency and fiat money. This article will highlight the difference between the two in a broader and clearer way.

Distinguish between what currencies represent

Before you go looking for the difference between the two, you need to understand what they represent and how they are defined.

Fiat currency is legal money with the support of the central government, and it works in physical form. For example, the US dollar, the British pound, the euro, etc. On the other hand, cryptocurrency is money that is not legal and does not have the backing of the central government or the bank.

Therefore, the difference between cryptocurrency and fiat currency is expressed as follows:

• Cryptocurrencies are decentralized and global. There is no entity or government that controls money by their laws and regulations. Fiat’s currency is centralized, controlled by the laws and regulations of banks and government.

• Cryptocurrencies only exist in the digital domain. On the other hand, you will find that fiat coins have a tangible and physical existence.

• There is a limited supply of cryptocurrencies in the maximum set of supplies on the market. Fiat has an unlimited supply of money, as the government and the bank have the right to produce coins and paper money whenever the situation requires it.

• Bitcoin and other cryptocurrencies are generated by computers, and fiat currencies are issued by local governments and banks.

• Cryptocurrencies are presented as public and private codes. On the other hand, fiat coins are presented in the form of coins and paper money.

• The value of cryptocurrencies is not recognized in terms of market supply and demand. On the other hand, the value of fiat currency is determined by the regulations of the supply and demand market.

Different types of crypto and fiat currencies

Over the last decade, the popularity of cryptocurrencies has been a huge success. It was in 2009, when Bitcoin was first introduced, and many other types of cryptocurrencies were created. Starting with Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there are many. On the other hand, the fiat currency has rich and old roots, with the Great British Pound dating back to 775 Ko. It is considered to be the oldest currency in the world that is still in use.

Differences in anonymity between the two currencies

When you are using Fiat currency, you need to go through a user identification or verification process. We ask you to upload a final photo of yourself and some documents to be provided by the public authorities. You don’t have to do any of the necessary processes with cryptocurrencies. Although your personal information and confidential details are not public, all your transactions are recorded and tracked in both fiat and crypto currencies.

Fiat currency vs crypto currency: level of transparency

• Crypto-type currencies are considered to have a higher level of transparency. This is because the revenue is displayed in a public channel. Each can witness the transactions of himself and others.

• Fiat or government. currencies are not transparent because there are no public channels to see people’s income.

Comparative historical roots

If you compare cryptocurrency with its counterpart, fiat or government currency, you will see that their existence and creation makes a difference. Fiat or government currency, was created in 775 with the introduction of the British Great Pound. This is why people accept fiat currency very easily.

On the other hand, the cryptocurrency was first introduced only perhaps a decade ago, with the introduction of Bitcoin in 2009. The challenge facing Bitcoin and other cryptocurrencies is the growing popularity of the fiat currency and more and more fans. . Crypto currency is certainly gaining importance and popularity in the economic market, but it is still not accepted in society as a fiat currency.

Comparative history of the two currencies:

• It was in the 11th century that the Chinese Song dynasty was perhaps the first to issue paper money. It was not allowed to exchange with values ​​such as gold and silver or silk.

• There were Tally sticks that were introduced as a fiat or government currency. 1100 Tally sticks were introduced as a fight against gold shortages.

• 1971 was the year in which fiat currency received worldwide recognition. President Nixon introduced it to eliminate the dollar’s ​​gold bond system.

• In 1998 when Wei Daik came up with the idea of ​​an anonymous electronic box system. Bitgold’s first cryptocurrency was created by Nick Szabo, but it didn’t receive as much attention as Bitcoin.

• In 2009, when Bitcoin entered the market, it became the first cryptocurrency to be accepted worldwide. In and after 2011, several other cryptocurrencies were introduced. Popular ones include Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash and more.

Characteristics of both currencies

The potential of crypto currencies and fiat currencies is important to access their characteristics. In some criteria, you will see that Bitcoin and other cryptocurrencies are larger than fiat or government currency, and in some cases, it exceeds the latter. It is entirely up to you to choose the type of currency (crypto type currency or fiat type currency) according to your personal needs and requirements.

Let us compare their characteristics with several factors.

• Both cryptocurrencies and fiat currencies are exchangeable.

• In terms of portability, the two currencies ensure approximately the same position.

• In terms of non-consumable criteria, cryptocurrencies and fiat currencies have the same status.

• Crypto-currencies are more durable than fiat currencies with a moderate level of sustainability.

• Both virtual cryptocurrencies and fiat or government currencies guarantee safe and secure transactions and exchanges.

• Crypto or digital currencies are highly divisible by nature. On the other hand, fiat-type currencies are moderately divisible.

• In terms of the transaction process, cryptocurrencies are simple and hassle-free. On the other hand, the traction process associated with currency fiat is easy, but not like cryptocurrencies.

• Crypto-based currencies are decentralized and global in nature, unlike fiat currencies which are centralized and operate in accordance with government laws and regulations.

• Crypto-based currencies are in short supply, where, as fiat currencies are unlimited, the government can issue coins and paper money whenever needed.

• Crypto-based currencies are based on mathematical algorithms and are programmable. Fiat currencies are not programmable at all.

• Fiat currencies are sovereign in nature, while cryptocurrencies are not.

The process of currency operation

You can find great differences between crypto or digital currency and fiat currency both with the way they work and the transaction process that takes place. They are contradictory in nature. Transferring money using Bitcoin is very fast, and you don’t need any third party association.

On the other hand, if you participate in the exchange using a Fiat type currency, a mobile wallet is used. You can exchange an amount of money that is transferred in the same electronic value. Both fiat and crypto currencies allow you to buy everything you want. But the processes involved are completely different from each other.

Depending on the things you buy, you will see that one form of currency is better than another. This is absolutely your choice.

Is Bitcoin better than cryptocurrency fiat currency?

The long-term benefits and capability of Bitcoins have not yet been established. But cryptocurrency gurus and experts have predicted that they will go a long way, especially in overturning the way online transactions are conducted. In today’s market, Bitcoin is mostly introduced in online casinos and games, but it is not limited to that.

Moreover, when you compare fiat currencies, Bitcoin allows you to assume the power and authority of banks and the government, as it is not controlled. A cryptocurrency-based currency has the ability to create or generate free market capital. Fiat currency is affected by inflation and market changes, unlike crypto-based currencies. These aspects allow individuals to believe that cryptocurrency-based currencies will soon take over major currencies and bring about a transformation in the way money is used.

Why is Bitcoins considered a better aspect than fiat currencies?

• Bitcoin allows you to recreate free market capitalism.

• The power to control money belongs entirely to the individual, and not to the banks as fiat-type currencies.

• When there is inflation, Bitcoin does not affect it. But it will be easier to lose Fiat-type currency and be affected by it.

• Bitcoin currency is easier to exchange and transfer compared to fiat or government currency.

• Bitcoin-related transaction fees are much cheaper and easily cheaper.

Crypto currency seems to be a good choice among people

Fiat-type currencies are a centralized and legal way to exchange money. But cryptocurrencies have gained a lot of popularity in recent years. There will never be anyone who would act as a mediator, as is the case with banks. Moreover, cryptocurrencies are much cheaper and more expensive than conventional currencies.

Send money anywhere directly without waiting for bank approval

You can send money directly to anyone in the world, and it’s very fast. The money will be cleared in a few minutes. You don’t have to wait for the usual clearing and verification processes for banking systems, as they take several days to get permission. Because it is decentralized and not subject to government laws and regulations, no one has the power to do anything with your account.

Blockchain technology plays a very big role

Cryptocurrency gives us the power and authority to have our own bank and control our finances. It’s because of the blockchain technology that offers a higher level of sophistication in dealing with finance. In fact, there are some major financial industries that have begun to incorporate the idea of ​​technology.