Why fiat is overrated.
With credit cards, you give your private keys to every merchant you do business with. Would you allow that with bitcoin?
With credit cards and paypal, you have to give up lots of private information to do purchases (Except with expensive gift cards). Would you allow that with bitcoin?
With fiat, a central authority is able to watch your transactions and freeze your money. Would you allow that with bitcoin?
With fiat, entities such as the federal reserve steal your purchasing power using inflation. Would you allow that with bitcoin?
I am angry considering the fact that lots of people blindfully love their corrupt, outdated system with even more holes and flaws than a piece of swiss cheese.
If the same problems that are present with fiat, were present in bitcoin, no one would use it.
There are only 3 good reasons left to use fiat: offline transactions (cash), paying taxes, and because everyone else uses it.
[link] [comments]
from Bitcoin - The Currency of the Internet https://ift.tt/2FiATo0
No comments