It is the same in our country; it is not widely used here, but it is also not strict. The difference between here and in your country is that there are still a few merchants that accept bitcoin, but not all, which is why we mostly exchange it for our fiat. I can still live for a day on a bitcoin, but not for a week because there are only a few places that accept it. But I know that in the upcoming years here in our country, it will be widely used as most people are really into bitcoin here, and there are a lot of reports that merchants will accept bitcoin in the future.

In the early days of Bitcoin (CRYPTO:BTC), one of the terms used to describe it was "magic internet money." Although it's an amusing description, there's nothing magic about Bitcoin or any cryptocurrency. A cryptocurrency is a currency with a system it follows, albeit a very different one than fiat money by the latest news update from https://www.oracleglobe.com/.

A key part of understanding cryptocurrency is understanding how it compares to and contrasts with fiat currency. Whether you're planning to use it to transfer funds, or you're considering crypto investing, this fiat versus crypto guide will explain how they work, as well as their pros and cons.

Indeed, I also really don't understand why so many people always bring them to the table to compare and talk bad about fiat among us still using it as a daily necessity. Bitcoin though very good but not perfect they have a lot of limitations as you say, while fiat can solve those problems. It's nice to see a world where both can be used, which would be good for us, not completely harmful. I use bitcoin as an investment and as a store of value, while fiat money, I like to use it as my daily expense, fast and convenient.

everything is already in place for Bitcoin to be completely independent from the FIAT system as there are many businesses that accept Bitcoin as payment, so there is no need to use fiat. Fiat is just the means of exchange of this economic model whereas Bitcoin presents a completely new model that is able to live without the fiat system.

I will not agree with you on the part that "bitcoin can do without Fiat and Fiat can also do without bitcoin " how? And how many things have you used bitcoin to buy in your locality? Bitcoin is only an alternative currency to the Fiat currency, and that means bitcoin can't stand alone because you can not use it to buy things in your local market. But Fiat can be used to buy things both online and offline but bitcoin is only online. Therefore, it is only Fiat currency can be used to buy things in my locality but bitcoin can do things without Fiat currency. Bitcoin cannot stand alone but Fiat stand alone.

This is the best example of bitcoin and Fiat in the market exchange 👇

There are not that many places all over the world that people can use BTC instead of fiat, i would like it to be that way but it is not so until there is a mass adoption of BTC all over the world, and that is not going to happen too soon. Paper money is so strong in every nation, and i am sorry it cannot be replaced by BTC or anything, BTC users have to trade their coins for fiat to to be able to spend it efficiently and with any merchant, if you are to spend BTC in itself you have to go in search of merchants that accept it, or try to convince those near to you to accept it, reason why BTC is an alternative currency.

The stupid thing is that we try to exclude fiat and Bitcoin, which is impossible. Bitcoin is a type of technology. Since Bitcoin is volatile, we can't manage everything when there is no fiat or paper money. Bitcoin has value because we always evaluate Bitcoin prices in terms of fiat. In any case, not Bitcoin to Bitcoin or altcoin. So, I believe that without fiat, whether in digital or paper form, we cannot live. To use Bitcoin globally, there should be a stable coin accepted by governments.

With so many scams happening in crypto, it is obvious that lot of regulations will come in future on crypto as well. If are living in some country, you have to follow the laws there. You have to follow the directions of the government in relation to the use of crypto as well. If the government sees that lot of people can loose money because of crypto or it is being used for some illegal activities, government can even ban it. It is in fact, already banned in some countries. I do not think that crypto can win against government. But what I belive is that crypto has the potential that most of the government will realize its value and embrace it.

There are several reasons why fiat money (that is, currency issued by government bodies) is very important to Bitcoin. First of all, if fiat money had never been created, there would have been no reason to invent something like Bitcoin. Bitcoin came into existence to present a reliable alternative to the economic disaster brought about by fiat money mismanagement and misallocation of capital, which in turn had been caused by this inferior form of money. In other words, fiat money is the main reason bitcoin exists. Bitcoin also inherited some useful characteristics of fiat money, especially those typical for physical fiat money which is cash. Like cash, all bitcoin transactions don't require any clearance, they are completely intermediary-free, and, if done correctly, can provide a sufficient level of anonymity to both payer and payee. Digital fiat lacks all these important traits, which makes people value bitcoin even more. In conclusion, physical cash made bitcoin more robust; digital money made bitcoin more valuable.

I guess bitcoin can do without fiat is a future promise, not something we can discuss now. So for example, we could end up with all of the fiat in the world gone, and just use crypto and it will be fine, there is really nothing wrong with it.

I personally would love to see something like that happen one day. Imagine all the fiat gone, and you only have bitcoin and then some alts but everywhere people use bitcoin, just like legal tender but no fiat available, just bitcoin. That would be so amazing, it would also allow that no government could just play with it, right now they are printing money however they want and change laws accordingly, bitcoin would be decentralized.