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Seven Reasons Why Why Bitcoin is Better Than Fiat Money




Why Bitcoin is Better Than Fiat Money

Bitcoin is a decentralized digital currency that has gained widespread popularity in recent years as an alternative to fiat money. While fiat money is issued and backed by governments, bitcoin operates on a peer-to-peer network and is not controlled by any central authority. This decentralization has several advantages over traditional fiat money that make it a better choice for many people.

The Definition of Fiat Money

Fiat money is a type of currency that is issued and backed by a government or central authority. Unlike commodities such as gold or silver, which have intrinsic value, fiat money has value because it is decreed to be legal tender by the government that issues it. This means that it can be used to buy goods and services, and to pay taxes, because it is recognized as a medium of exchange by the government.

The most common examples of fiat money are paper currency and coins, which are issued by central banks or governments. For example, the US dollar, the Euro, and the Japanese Yen are all examples of fiat money. It is also possible for fiat money to exist in digital form, as in the case of digital currencies issued by central banks.

1- Faster Transactions

Bitcoin transactions are generally faster than bank wire transfers. This is because, while bank wire transfers can take several days to clear, Bitcoin transactions can be confirmed on the blockchain within minutes.

One of the main reasons that bank wire transfers take longer to clear is that they are subject to various regulations and compliance checks. Banks are required to verify the identity of their customers and to monitor transactions for suspicious activity, which can slow down the process. Additionally, bank wire transfers often involve intermediaries such as correspondent banks, which can add additional layers of bureaucracy and delay.

On the other hand, Bitcoin transactions are processed on a peer-to-peer network, which means that there are no intermediaries involved. This allows transactions to be confirmed more quickly and easily. Additionally, while banks are required to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations, these regulations are less strict for Bitcoin, which means that transactions can be processed more quickly.

Another key factor that makes Bitcoin transactions faster is that it doesn’t require intermediaries like correspondent banks, it uses a decentralized system called blockchain, which allows for faster and more secure transactions. Because the blockchain is maintained by a network of computers around the world, transactions can be confirmed and processed more quickly and efficiently.

2- Security

One of the biggest advantages of Bitcoin is its security. Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a large network of computers around the world. This makes it almost impossible for any one person or group to manipulate the currency or steal from other users. Also, by default, Bitcoin (BTC) Wallets addresses are not tied to individuals’ personal information, providing an additional layer of security and privacy for users.

3- Scarcity

Another advantage of Bitcoin is its scarcity. There will only ever be 21 million bitcoins in existence, and the rate at which new bitcoins are created is decreasing over time. This ensures that the value of bitcoin will not be diluted through inflation, as is often the case with fiat currencies.

4- Flexibility and Freedom

Bitcoin also offers greater flexibility and freedom than fiat money. Transactions can be made quickly and easily, with no need for a bank account or government-issued ID. This makes it particularly useful for people living in countries with unstable currencies or restrictive banking systems. Additionally, bitcoin can be used to make purchases online, and is accepted by an increasing number of merchants around the world.

5- Censorship Resistance

Censorship resistance is one of the key features of Bitcoin that sets it apart from fiat money. Since Bitcoin is decentralized and not controlled by any government or institution, it is not subject to censorship or control by any central authority. This means that individuals are free to use and transact with Bitcoin without fear of interference or restriction.

One of the main ways that governments and institutions can control fiat money is through the use of capital controls. These are measures put in place to restrict the flow of money in and out of a country, often in an attempt to stabilize a currency or prevent capital flight. However, these controls can also be used to restrict the freedom of individuals and organizations to access and use their own money.

6- Transparency

Transparency is another key feature of Bitcoin that sets it apart from fiat money. Because all Bitcoin transactions are recorded on a public ledger called the blockchain, they can be easily tracked and audited by anyone. This makes it possible to trace the flow of bitcoins from one address to another, and to see the entire history of a particular bitcoin.

The transparency of the blockchain is maintained by a network of computers around the world that work together to validate and record transactions. Each block in the blockchain contains a record of multiple transactions, and once a block is added to the blockchain, it cannot be altered or deleted. This creates an immutable record of all Bitcoin transactions that is open for anyone to see.

This level of transparency has several advantages. One of the main advantages is that it makes it much more difficult for individuals or organizations to engage in illegal or fraudulent activities using Bitcoin. For example, if a criminal attempts to launder money using Bitcoin, it would be possible for law enforcement to track the movement of the bitcoins and identify the individuals involved.

Additionally, transparency in Bitcoin can also be useful for businesses and organizations that wish to demonstrate their financial integrity. By sharing their Bitcoin addresses, they can show their customers and partners that they are transparent in their financial dealings.

Another advantage of transparency is that it allows individuals to protect their own financial privacy. Because Bitcoin addresses are not tied to individuals’ personal information, people can conduct transactions without revealing their identities. However, if they choose to, they can also share the details of their transactions with others, providing them with more control over the amount of information they choose to reveal.

7- The Decentralized Nature of Bitcoin

Finally, bitcoin has the potential to be a more equitable form of money. Because it is decentralized and not controlled by any government or institution, it is accessible to anyone with an internet connection. This has the potential to empower people in developing countries and marginalized communities who have been traditionally excluded from the global financial system.

Bitcoin’s decentralized nature makes it resistant to government attempts to shut down or control the network. Since there is no central point of control, it would be extremely difficult for any one person or group to shut down the entire network. Additionally, even if certain parts of the network were shut down, the network as a whole would still be able to continue functioning.


Overall, bitcoin offers several advantages over traditional fiat money. Its security, scarcity, flexibility, and potential for greater equity make it an attractive alternative for many people. As more people begin to use and accept bitcoin, it is likely that it will continue to grow in popularity as a form of money.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]


Trading Wars: Unveiling the Similarities and Differences of Forex and Cryptocurrency

June G. Bauer



In recent years, both forex (foreign exchange) and cryptocurrency trading have gained immense popularity among investors and traders. While they share some similarities, such as being forms of speculative trading, they also have distinct characteristics that set them apart. Understanding the similarities and differences between forex and cryptocurrency trading is crucial for anyone looking to venture into these financial markets. In this article, we will explore the key aspects of both types of trading, enabling you to make informed decisions about which avenue suits your investment goals and risk tolerance.

Similarities between Forex and Cryptocurrency Trading

  1. Volatility: Both forex and cryptocurrency markets are highly volatile, meaning their prices can experience rapid and substantial fluctuations. This volatility presents opportunities for traders to profit from price movements, but it also carries inherent risks.
  2. 24/7 Trading: Forex and cryptocurrency markets operate around the clock, allowing traders to engage in trading activities at any time. This aspect provides flexibility and enables traders to react swiftly to market events and news.
  3. Technical Analysis: Technical analysis, the study of price charts and patterns to predict future price movements, is a commonly used approach in both forex and cryptocurrency trading. Traders utilize indicators, chart patterns, and other tools to identify potential entry and exit points.

Differences between Forex and Cryptocurrency Trading

  1. Market Size and Liquidity: The forex market is the largest financial market globally, with daily trading volumes surpassing trillions of dollars. It is highly liquid, meaning there is an abundance of buyers and sellers, resulting in tight spreads and minimal slippage. Cryptocurrency markets, although growing rapidly, are relatively smaller and less liquid in comparison, which can lead to wider spreads and higher price volatility.
  2. Centralization vs Decentralization: Forex trading occurs in a centralized market, facilitated by financial institutions, banks, and brokers. Cryptocurrency trading, on the other hand, takes place in decentralized markets, with transactions recorded on a blockchain. This decentralized nature eliminates the need for intermediaries and offers greater control and privacy to traders.
  3. Regulation and Oversight: The forex market is heavily regulated in most countries, with established regulatory bodies monitoring and supervising brokers and financial institutions. Cryptocurrency markets, however, are still in the nascent stages of regulation, with varying degrees of oversight across different jurisdictions. This regulatory landscape can impact the level of investor protection and market stability.
  4. Asset Class: Forex trading involves the buying and selling of fiat currencies, such as the US Dollar, Euro, or Japanese Yen. Cryptocurrency trading, on the other hand, revolves around digital assets like Bitcoin, Ethereum, or Litecoin. The underlying factors influencing the price movements of these assets can differ significantly, with forex influenced by economic indicators, geopolitical events, and monetary policies, while cryptocurrencies can be impacted by technological advancements, adoption rates, and regulatory developments.
  5. Leverage and Margin: Forex trading often allows traders to utilize leverage, which means borrowing funds to amplify their trading positions. Leverage enables traders to control larger positions with smaller capital but also increases the risk of significant losses. Cryptocurrency trading platforms, on the other hand, typically offer lower leverage or margin trading options, primarily due to the higher volatility and potential for extreme price swings.

Final Thoughts

Both types of trading (Forex and Cryptocurrency) share similarities in terms of volatility, availability, and technical analysis techniques. However, they differ significantly in terms of market size, decentralization, regulation, asset class, and leverage options. Understanding these distinctions is vital in formulating effective trading strategies and managing risk appropriately. Whether you choose to trade forex or cryptocurrencies, it is crucial to conduct thorough research, gain experience, and seek professional advice to enhance your chances of success in

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The Challenges of Policing Cryptocurrency Fraud: CFTC Commissioner Shares Insights

June G. Bauer



In an enlightening revelation, Christy Goldsmith Romero, a commissioner at the Commodity Futures Trading Commission (CFTC), acknowledged the challenges of policing cryptocurrency fraud due to its widespread nature. Despite the agency’s active pursuit of several significant cases, she admitted that the sheer volume of fraudulent activities makes it impossible to catch them all.

Speaking at a white-collar crime conference hosted by the New York City Bar Association, Goldsmith Romero disclosed that cryptocurrency-related cases account for approximately 20% of the CFTC’s portfolio. Notably, the agency has recently filed civil cases against prominent exchanges Binance and FTX, underscoring their commitment to combatting fraudulent practices.

While addressing the audience, Goldsmith Romero emphasized the need for action, stating, “There’s just no way we can police all the fraud, but we’ve got to do something.” This recognition highlights the magnitude of the challenge faced by regulators in the rapidly evolving cryptocurrency landscape.

CFTC Chairman Rostin Behnam has actively sought increased authority from lawmakers to enable the agency to effectively oversee spot crypto markets. This move is seen as a crucial step towards strengthening regulatory measures and protecting investors in the digital asset realm.

Responding to the notion of a potential “turf war” between the CFTC and the Securities and Exchange Commission (SEC) over regulating cryptocurrencies, Goldsmith Romero dismissed the idea. However, she acknowledged the complexities surrounding the regulation of new and innovative products in the industry, emphasizing that both agencies are diligently working to navigate these challenges.

Goldsmith Romero also urged cryptocurrency companies not to perceive the CFTC as a lenient regulator compared to the well-funded SEC. Dismissing any misconceptions, she stated, “‘Light touch regulator’ would never be written on my tombstone,” signaling her commitment to robust oversight.

The CFTC’s recent lawsuits against Binance and its founder, Changpeng Zhao, accused them of operating a sham compliance program. Zhao has refuted these allegations, referring to the complaint as an “incomplete recitation of facts.” In a separate case involving now-bankrupt FTX, the CFTC has implicated the exchange and its founder, Sam Bankman-Fried, for allegedly causing the loss of over $8 billion in customer deposits. Bankman-Fried has pleaded not guilty to related criminal charges filed by the U.S. Department of Justice.

As the cryptocurrency market continues to expand and evolve, regulators face an uphill battle in their efforts to curb fraudulent activities.

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QRL’s Quantum-Safe Blockchain Technology: Safeguarding Cryptocurrency Against the Looming Quantum Threat




As the rise of quantum computing looms on the horizon, the security of cryptocurrencies faces a grave challenge. Quantum Resistant Ledger (QRL), the pioneering post-quantum store of value and decentralized communication network, is poised to address this imminent threat. By leveraging cutting-edge quantum-safe blockchain technology, QRL aims to revolutionize the cryptocurrency industry and provide a secure solution against advanced quantum computing. This article delves into the quantum threat and explores how QRL could transform the landscape by offering a post-quantum security framework.

Understanding the Quantum Threat

To comprehend the significance of QRL’s solution, it is crucial to grasp the workings of quantum computers and the vulnerabilities of popular blockchains like Bitcoin and Ethereum.

Quantum computers, supercomputers with exponentially greater processing power than classical computers, have made remarkable strides across various domains such as AI, weather forecasting, and medical research. However, in the wrong hands, quantum computing poses substantial risks to cybersecurity and subsequently to cryptocurrencies.

Quantum Attacks and Cryptocurrency Vulnerabilities

Two primary types of quantum threats face traditional cryptocurrencies:

  1. Storage Attacks: Targeting individual wallet addresses to compromise their security and pilfer stored cryptocurrencies.
  2. Transit Attacks: Focusing on seizing control of real-time transactions within the network.

Bitcoin, functioning as a decentralized and immutable store of value akin to digital gold, faces relatively lower risk from storage attacks. Conversely, Ethereum, a shared computer network facilitating decentralized application development, exhibits higher vulnerability, with approximately 65% of all Ether at risk of quantum attacks compared to 25% of Bitcoin.

While transit attacks are more severe, executing them presents a significant challenge. Breaking such encryption levels would necessitate a quantum computer with a mind-boggling 1.9 billion qubits of power, a magnitude far beyond the current capabilities of even the most advanced quantum computers, which possess a mere 127 qubits.

QRL’s Quantum-Safe Blockchain Technology

Traditional cryptographic methods, including RSA and elliptic curve cryptography (ECC), rely on computational complexity for security. However, these methods prove insufficient against quantum computers. QRL tackles this vulnerability by creating cryptography based on problems believed to be resistant to quantum attacks, thereby providing enhanced security in the quantum era.

At the core of QRL’s cryptographic approach lies the eXtended Merkle Signature Scheme (XMSS), a unique mathematical function designed for secure and efficient transaction authentication, considering quantum computing trends. QRL also incorporates advanced techniques like on-chain lattice key storage and layer-to-internode communication to secure transactions and communications on the blockchain.

The Road Ahead for QRL and the Cryptocurrency Industry

While the advent of quantum technology raises concerns, the continuous development of cryptographic encryption holds the potential to outpace quantum computing advancements. As quantum computing remains in its early stages, investors and centralized organizations have the opportunity to transition to quantum-resistant cryptography. However, the situation is vastly different for decentralized blockchain technology, which post-quantum security analysts claim harbors a fatal and fundamentally unfixable flaw. QRL, on the other hand, stands at the forefront of the post-quantum security frontier, well-positioned to provide a safe ecosystem for transactions and communications in a post-quantum world.

Final Thoughts

QRL’s quantum-safe blockchain technology offers a transformative solution to this impending risk. By leveraging quantum-resistant cryptography, such as the eXtended Merkle Signature Scheme, QRL aims to revolutionize the industry and protect against quantum attacks. As the cryptocurrency landscape evolves, QRL stands as a pioneering force in ensuring the safety and longevity of decentralized transactions and communications.

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