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Author Topic: Is Bitcoin a fiat currency?  (Read 3987 times)
spyerf
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October 19, 2017, 10:37:32 PM
 #181

Bitcoin is not a fiat currency because bitcoin does not have the characteristics of fiat currency. Bitcoin is not controlled by any government and Fiat also does not follow protocols such as coins that have a bitcoin life path. So bitcoin is not a fiat currency in any way. Fiat and bitcoin do not have the same characteristics.

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October 19, 2017, 10:45:32 PM
 #182

Your question makes no sense. Bitcoin and fiat are totally contradictory things. If you have a point that makes it a valid concern, just bring it.

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December 07, 2017, 12:47:56 PM
 #183

I agree bitcoin is  a not fiat money because bitcoin is a kind of digital money and for me we don't know money come from and know maybe the government he can accept someday

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December 07, 2017, 12:54:06 PM
 #184

Bitcoin is not a fiat currency. Bitcoin is a cryptocurrency where no one control it an it fully independent not only that it is not traceable who hold what and the privacy is the added feature. Moreover you go through this forum read reply posted buy the members to know what is fiat and what is bitcoin so you will understand the concept of bitcoin and perform well in this bitcoin world.

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December 07, 2017, 01:47:06 PM
 #185

Is Bitcoin a fiat currency?

Funny question! The answer is NO! Bitcoin is not a fiat currency and it doesn't have any characteristic of a fiat currency. Bitcoin is decentralized which fiat is now. Bitcoin is not controlled by any government where fiat is controlled by respective governments. Fiat doesn't follow any protocol like blockchain and the lifeline of bitcoin is blockchain technology.

So bitcoin is not a fiat currency in any way. Fiat and bitcoin doesn't have much characteristic similar. Fiat is restricted by country borders where bitcoin can be called as a truly international currency.
bitcoin is currency but not a Fiat,instead it calls VIRTUAL currency,
but bitcoin is more functional than a physical currency in terms of transactions,
bitcoin is internet away from international transaction while physical money is a
long process

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December 07, 2017, 03:39:20 PM
 #186

For the present isn't however perhaps later on in light of the fact that bitcoin is getting solid and dependable yet at the same time it is an advanced cash significance not physical like the paper cash which is the fiat that is customarily use in all countries and all individuals like the dollar charge. On the off chance that bitcoin will be perceive in the entire word then it will move toward becoming fiat however not currently on the grounds that not all individuals knows bitcoin

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December 07, 2017, 03:51:13 PM
 #187

Bitcoin is not a fiat currency, fiat currencies are controlled by the central banking systems whereas bitcoin is a peer to peer decentralized network without a central authority to control the transactions carried out in the bitcoin and blockchain network all over the world. Some of the governments and central banking system are planning to implement the bitcoin networking system. Unlike fiat currencies these bitcoins gives a sense of financial freedom to the user's of bitcoin network. Bitcoin and other crypto currencies are backed by fiat currencies.

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December 08, 2017, 09:36:55 AM
 #188

Is Bitcoin a fiat currency?
No, bitcoin is not a fiat currency because firstly fiat currency is regulated by governments of the country where as on the other hand bitcoin is not regulated by any government. Secondly, fiat currency is a stable currency which means that its price does not fluctuate so often. On the other hand bitcoin’s price fluctuate every minute. Thirdly fiat currency is limited to the country who’s currency it is and has to be exchanged with the other currency of their country to be used in that country. Whereas bitcoin is s global currency and it does not have to be exchanged.
No bitcoin is a cryptocurrency or a digital currency.It is not a physical currency.It needs internet accessibility to operate.If it was physical then government would have implied taxes on it.Since it is decentralised,no taxes can be implied on it.It is very volatile unlike any fiat currency.Fiat currency is very stable and legalised.Bitcoin is not legalised in many nations.

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mr_enoc
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December 08, 2017, 09:48:07 AM
 #189

Is Bitcoin a fiat currency?

Bitcoin is not a fiat but it is a digital currency that is being used by some btc users to transact and transfer funds to other party without any hassle.

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December 08, 2017, 09:57:47 AM
 #190

The answer is certainly not, because bitcoin is an unformed currency, its value tends to change. and bitcoin is not regulated by any government. While the fiat is shaped, its value is fixed, and there are government regulations in it.
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December 08, 2017, 10:02:49 AM
 #191

Is Bitcoin a fiat currency?
Obviously it is not. Bitcoin is a digital currrncy while fiat refers to regular currencies or cash such as dollars, crowns and the likes. Bitcoi  is not only a currency but is also a good investment because of its high market value which is continuously growing as time passes by which gives its users huge profit by just storing Bitcoin in their wallets.

BTC AND ETH
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December 08, 2017, 10:11:12 AM
 #192

Two things to be clear.

Fiat: an official order given by someone who has power  i.e. fiat currency means a currency that is forced into circulation by a government.

Bitcoin: The technology is known as the Bitcoin blockchain. The "data" transferred is know as bitcoins. Notice I emphasized data because bitcoin is data, with a financial incentive attached to it.

Transfer of bitcoin is voluntary and does not have to be accepted by the receiving party. Although there are countries that are starting to accept the use of bitcoins as "money" so to speak, most countries don't enforce the use of bitcoin hence not a fiat currency.
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sgenuine
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December 08, 2017, 10:14:14 AM
 #193

Bitcoin is not a fiat currency because bitcoin does not have the characteristics of fiat currency. Bitcoin is not controlled by any government and Fiat also does not follow protocols such as coins that have a bitcoin life path. So bitcoin is not a fiat currency in any way. Fiat and bitcoin do not have the same characteristics.

No, it is not. It is even difficult to call Bitcoin a currency as it is the blockchain. However it can be exchanged for classic money.

Wittycoin
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December 08, 2017, 10:24:08 AM
 #194

Is Bitcoin a fiat currency?
Huh?  It is not fiat currency,  as we know it is a cryptocurrency.

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December 08, 2017, 11:36:09 AM
 #195

Is Bitcoin a fiat currency?
Huh?  It is not fiat currency,  as we know it is a cryptocurrency.
It is a cryptocurrency and that is different from fiat currency because fiat is pointing to the regular money that we are using for everyday basis because the fiat is only good for basic transaction but for a mode of payment and have a features of being safe and also worth it then you should go for bitcoin.

shaun98
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December 08, 2017, 11:41:35 AM
 #196

Definitely not a fiat currency by any means. It's decentralised.

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December 08, 2017, 03:02:07 PM
 #197

Definitely not a fiat currency by any means. It's decentralised.


Bitcoin is very different from fiat currency but bitcoin is convertible to fist currency. Bitcoin is a cryptocurrency and it can only be used with the internet connection. Unlike fiat currency, no need to use Internet just to buy and bitcoin price is changeable but fiat currency has stable value.

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December 08, 2017, 03:16:00 PM
 #198

Definitely not a fiat currency by any means. It's decentralised.


Bitcoin is very different from fiat currency but bitcoin is convertible to fist currency. Bitcoin is a cryptocurrency and it can only be used with the internet connection. Unlike fiat currency, no need to use Internet just to buy and bitcoin price is changeable but fiat currency has stable value.
A lot of difference between them. Fiat has a fixed price meaning when we said $10 it means $10 but when we said 1 btc doesn't mean $10k because it can rise/dump from time to time, meaning that bitcoin is only using for investment purpose and can just be converted to a local currency if we want to, they both just like money but they differ when it comes to concept and value.

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December 08, 2017, 03:33:30 PM
 #199

Bitcoin is a digital currency, can not be used as the currency of a legitimate country.

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December 08, 2017, 03:57:02 PM
 #200

As what i have learned, a fiat is a tangible money used to buy goods and other services. On the other hand bitcoin is a digital currency that is also used to buy goods and other services but this digital currency is intangible.
Therefore, Bitcoin is not a fiat currency.

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