If you want new people to know about the advantages of Bitcoin then it's not the place, we all here know that. But your points are valid, can't deny that.
Everyone will explain the benefits of bitcoin depends on the category or aspect it understands bitcoin, I believe that the advantages or benefits of bitcoin depends on the what you have achieved from bitcoin, so I know quite well that many people will give different reasons of bitcoin benefits, from my perspective bitcoin is important in aspect of intercontinental transactions, so therefore I believe that bitcoin shortened stress of sending money through union bank across the nation, bitcoin is the most fastest means of sending money to someone who is far from your continent and it received without delays, so that's one of the important thing concerning cryptocurrency and mostly bitcoin in particular. 
Topic: Benefit of bitcoin (Read 641 times)
Regarding the benefits of bitcoin for investors, of course, the benefits they get when investing at the right time, and investing in bitcoin is more profit that we get than investing in property and fisheries
Apart from the benefits that they actually get, they also get several benefits from other aspects, especially as their alternative in terms of transactions, and maybe especially the economy, their need for the benefits they get from Bitcoin, and so far the resulting benefits have not disappointed.
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Bitcoin is indeed a digital currency and nobody would say otherwise, technological developments brought bitcoin to a much greater stage of adoption and the internet has encouraged many people to learn about it and The essence of bitcoin as a digital currency will never change.
If you try to force this but your customers are not used to paying using bitcoin, then the risk is that your business will be abandoned by customers and they will choose someone else's place. Even though bitcoin is quite useful for us, for other people it may not be the same as our thinking because they don't use bitcoin for investment let alone use it as a tool for transactions. You also have to put something in its place so that it doesn't influence decisions and also doesn't harm the business that you're running
Thanks to share small details about bitcoin and benefits and its most profit business as well and world changing and its using technology the bitcoin kept separate place in this because bitcoin is a digital currency , Didn't pay a money for shop rental and also any one and invest in online for making a business due bitcoin have some good things is there and some can invest some part in bitcoin and what you thinking its good and profit business can be done.
What do you mean about business and investing in bitcoin with some good things there? Does it have something to do with bitcoins that are trying to be implemented in the payment system by people in their business? If that's the case then you also have to pay attention to the mindset and habits of your customers in making transactions when purchasing, are they close and know how to do it. This kind of approach is sometimes not always suitable, especially in your country bitcoin is prohibited as legal tender.If you try to force this but your customers are not used to paying using bitcoin, then the risk is that your business will be abandoned by customers and they will choose someone else's place. Even though bitcoin is quite useful for us, for other people it may not be the same as our thinking because they don't use bitcoin for investment let alone use it as a tool for transactions. You also have to put something in its place so that it doesn't influence decisions and also doesn't harm the business that you're running
Bitcoin is just a technology and I think that everyone knows well about its benefits and risk factors so those who have the ability to cope with them will eventually be a successful investor otherwise taking advantage from the bitcoin investment is not as easy as the people thinks. Financial relief can be achieved through bitcoin but first of all the investors should have command on those factors which can reduces his profit and where I can see I want to say that talking about risk management, right time for investment and other steps are easy for saying but when a person enters into the reality then it will probably takes huge duration to make use of it.
There is a lot to be said about the benefits of Bitcoin. I have been using bitcoin since 2017 and I have been in this forum since 2017. I have really benefited from bitcoin.I think Bitcoin has many benefits, but many may not like it, it's a personal matter for everyone. Since Bitcoin is a digital asset, its transactions are also very easy. My first income in life came from Bitcoin, that's why I personally like Bitcoin a lot. I think Bitcoin is one of the easiest ways to make money.But each thing has both advantages and disadvantages. Likewise, Bitcoin has some disadvantages, as Bitcoin investment is fraught with risk. So caution must be exercised when employing Bitcoin.People who have good knowledge about Bitcoin are essentially Beneficiaries.
I don't know if the OP is more interested in opinions about the disadvantages than the benefits,but I can comfortably say that bitcoin has more benefits, but to mention a few out of those.
Bitcoin is Decentralized: this means that the verification of transactions is based on connection of a large number of nodes, Users don't have to rely on one third party.
Due to it's nature of Decentralization, Bitcoin is immune to confiscation.
No one can claim, or take hold of your asset hence you store it in your own wallet (bank) and you have the autonomous control over it.
Lastly, I want to say is that Bitcoin usage is not limited to a region or government.
Anywhere a user is, as long as there is someone to transact with, such transactions will be successful without government interference.
Bitcoin is Decentralized: this means that the verification of transactions is based on connection of a large number of nodes, Users don't have to rely on one third party.
Due to it's nature of Decentralization, Bitcoin is immune to confiscation.
No one can claim, or take hold of your asset hence you store it in your own wallet (bank) and you have the autonomous control over it.
Lastly, I want to say is that Bitcoin usage is not limited to a region or government.
Anywhere a user is, as long as there is someone to transact with, such transactions will be successful without government interference.
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Your observations about Bitcoin highlight both its benefits and disadvantages. It's important to approach Bitcoin and any investment with a balanced perspective. While Bitcoin can provide financial relief and opportunities for investment, it also carries risks, especially when proper understanding and guidance are lacking. Bitcoin's decentralized nature gives individuals financial freedom without reliance on a central authority. However, it's crucial to consider factors like timing and the amount invested for maximizing benefits.
That is an important factor that must be considered and approaching bitcoin investment using a balanced perspective is a way to understand market conditions and this awareness will bring conclusions to anyone when experiencing bearish market conditions. So there is no need to panic even though the market has not shown a gradual recovery in bearish conditions, it is this attitude and knowledge that will minimize the risk of decisions based on learned knowledge.Some people are too worried about certain conditions caused by negative news or market sentiment, even though if they are able to take advantage of these conditions, making a purchase is the right decision because usually in such conditions bitcoin will experience a decrease in price.
Newcomers should be aware that Bitcoin investment offers advantages outweighing the disadvantages, but it requires serious commitment and careful planning.
It depends on how the approach is taken and I don't think there is anything difficult if bitcoin is considered the long-term investment, but again how are they able to understand bitcoin and have careful planning before committing to continue investing.
Thank you sharing your little information about Bitcoin and benefits, which is simply know as profitable business as well, and the world is changing and technology has come to take a place where Bitcoin has been taken advantage of technology, because Bitcoin is a digital currency that trade and invest online without paying for a shop rent or pay for any task, so Bitcoin has many benefits someone has to be the part of deal of Bitcoin either investment or trading and is more reliable and profitable business as long you have the knowledge of what you're doing.
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Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools. It is a virtual asset that increases our financial freedom. And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .
Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.
Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.~snip~
Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools. It is a virtual asset that increases our financial freedom. And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .
OP these are the general benefits you have listed and I kind of agree! But at the end of the day I think we all have different preferences as to why we using bitcoin ,take for example people coming from countries were their home currency has become totally useless and unstable... bitcoin does come to fill this gap and their benefit in such a scenario is not a benefit to me. So like I said some benefits depend on current situation with economy etc.
Isn't bitcoin relation to the user a personal matter regardless of " the cult-like group?"
I wonder who this group of people are...
However, it is necessary to address the drawbacks as well, even to distance the cult-like group that tarnishes the project's image.
Ummh never seen this side of the forum Isn't bitcoin relation to the user a personal matter regardless of " the cult-like group?"
I wonder who this group of people are...
I believe that everyone who has reached this forum must already be familiar with the benefits of Bitcoin and, most importantly, blockchain. However, it is necessary to address the drawbacks as well, even to distance the cult-like group that tarnishes the project's image.
One of the key benefits of Bitcoin is its decentralized nature. Unlike traditional fiat currencies that are controlled by central banks and governments, Bitcoin operates on a decentralized network called the blockchain. This means that no single entity has control over Bitcoin, making it resistant to censorship, manipulation, and seizure. Additionally, Bitcoin offers fast and secure peer-to-peer transactions, allowing users to send and receive funds globally without the need for intermediaries such as banks. Bitcoin also provides a degree of financial privacy, as transactions are pseudonymous, meaning they are not directly linked to individuals' identities. These features make Bitcoin an attractive alternative to traditional financial systems, providing individuals with more control over their money and the potential for financial inclusivity on a global scale.
Well you've said quite a lot but it seems unclear whether you want to throw light on the benefits of Bitcoin or you're giving information on both the good sides as well as bad sides of bitcoin.
Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.
If bitcoin becomes much more stable, then you will reinvest all your funds in gold, even taking into account the fact that there is a lot of gold to be mined and only 21 million bitcoins?Your gold will need to be stored in some kind of bank vault, the bank will know everything about you and in fact your gold will not be with you, but under the control of the bank. You will pay for storage and of course you will pay taxes. Do not forget that there have already been cases in history when the government seized all the gold from the population. Although bitcoin will become less volatile, it will always rise in price, since its number will never exceed 21 million, and with the adoption, there will be more and more people who want to own bitcoin.
If bitcoin becomes stable, meaning it ceases to be volatile, do you think the supply will still matter? Limited supply is one of the factors driving the bitcoin price, but I'm talking about the case where it becomes as stable as gold, talking about the supply is pointless.
I'm talking about physical gold, and you can buy and keep it at home, in your safe, I'm not talking about investing gold in a bank to earn interest like fiat. And taxes are part of civic duty, if you use bitcoin to evade taxes, you are damaging bitcoin's reputation.
Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.
Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology if this is stoppable then why still lean here?
better to run into another investments.
The only thing that people might consider a disadvantage of Bitcoin is its volatility which is basically there in all cryptocurrencies and it's because their prices go up and down based on demand and supply and because of the flow of the money invested.
Some people consider this not to be a disadvantage, as it is precisely this volatility that allows certain individuals to profit from these price fluctuations. Who else but traders? Yes, they leverage the nature of Bitcoin, where its value is unstable based on supply and demand.If it comes to transactions, perhaps this may not be the optimal choice. However, for investment or daily trading purposes, Bitcoin can yield profits for skilled traders.
Humans tend to like things that earn them money because money is what everyone is running behind these days, you can't do anything without it so you have to find ways to get as much as possible to have a life free of worries and tensions and if you don't have any, you can't live in peace.
Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.
There are still a couple of people interested in it, but again, because of its price and volatility, people got into it because of profit, and for sure, most of us really believe that is the reason, and only a few really used it as a payment method. People really want to get involved with risk, especially if the chances of profit are huge and they can get rich on it or gain profit immediately. Even for myself, I will be buying gold instead of bitcoin or having my money put in the bank for interest.
Indeed, people always talk about the technology of bitcoin, but what they care about most is its volatility and profitability. I don't believe someone is here to invest in bitcoin and say they love it just for the technology and not for the profit. If it is stable, people will still have demand and use it, but it will be significantly reduced and no longer receive the attention it is today.
I myself will be looking for a new investment channel and will only use bitcoin if necessary, and my interest in it will certainly not be great as I will focus on new investment. And I believe everyone will be like me, but there will be many people who don't want to accept that.
I think other writers has outlet the benefits of bitcoin and none benefits of bitcoin before, I don't need to praise bitcoin much because its just a technology and anything can interrupts the chances of it prolonging values.
1) From what I have observed in bitcoin its a financial relief when you know the secrets behind the uses of bitcoin and some of the investment.
2) bitcoin have some of disadvantages which we are not supposed have all our hope in bitcoin, sometimes the mistakes of people lossiing in bitcoin investment is as a result of improper explanation and orientation when coming to invest in bitcoin.
3) bitcoin is like a life bencher for lawyers, why in financial aspects bitcoin is a freedom it doesn't have who control it.
4) having much benefit in bitcoin is when you know the good time to invest in bitcoin, like sometimes profit in Bitcoin investment is determination by the amount used for invest.
5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.
1) From what I have observed in bitcoin its a financial relief when you know the secrets behind the uses of bitcoin and some of the investment.
2) bitcoin have some of disadvantages which we are not supposed have all our hope in bitcoin, sometimes the mistakes of people lossiing in bitcoin investment is as a result of improper explanation and orientation when coming to invest in bitcoin.
3) bitcoin is like a life bencher for lawyers, why in financial aspects bitcoin is a freedom it doesn't have who control it.
4) having much benefit in bitcoin is when you know the good time to invest in bitcoin, like sometimes profit in Bitcoin investment is determination by the amount used for invest.
5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.
Why does anything of what you state have to be about bitcoin in relation to “profits”?
I think the main issue people face when it comes to their understanding, or lack thereof, of bitcoin, is first understanding it’s NOT an investment in and of itself. It’s a digits currency which solved double spending and is used as an investment vehicle just as all types of currency have been.
Why is it always about profits, and not the actual technology behind bitcoin ??
Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.
Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools. It is a virtual asset that increases our financial freedom. And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .
Your observations about Bitcoin highlight both its benefits and disadvantages. It's important to approach Bitcoin and any investment with a balanced perspective. While Bitcoin can provide financial relief and opportunities for investment, it also carries risks, especially when proper understanding and guidance are lacking. Bitcoin's decentralized nature gives individuals financial freedom without reliance on a central authority. However, it's crucial to consider factors like timing and the amount invested for maximizing benefits. Newcomers should be aware that Bitcoin investment offers advantages outweighing the disadvantages, but it requires serious commitment and careful planning.
Problem with new ones is them being biased. They often see this industry as an easy way to get rich in an instant. Indeed there are individual who managed to do so but there are many factors to prove that we won't have the same fate; difference with capital, risk management, decision making, and loss tolerance. These things would make results differ from one investor to another. Some would just be eyeing to profit but are not willing to lose an amount and this is where frustration may take place yielding to huge loss. Bitcoin has its own benefit especially as an asset but everything has its cons so never be too confident of this technology. Jump to: