Topic: Bitcoin Forever - page 2. (Read 549 times)
now a lot of people admire bitcoin because they know the value of bitcoin is very expensive and bitcoin is very popular right now, but you need to look back when bitcoin had no value, even bitcoin was exchanged for burgers, was bitcoin as popular as it is now? of course not, bitcoin has become the talk of the world since its price has soared and if in the future bitcoin returns like it was first created by satoshi will there still be people who want to hold it? of course bitcoin will be lived by many people.
welcome to this forum friends, I hope you enjoy being in this forum.
bitcoin is a digital asset that is currently popular, and we must be prepared to accept the fact that bitcoin has a fluctuating nature.
and very suitable for long term investment.
I hope that by joining you here your knowledge about bitcoin will increase.
bitcoin is a digital asset that is currently popular, and we must be prepared to accept the fact that bitcoin has a fluctuating nature.
and very suitable for long term investment.
I hope that by joining you here your knowledge about bitcoin will increase.
Welcome to the forum and I love how positive you are about Bitcoin but why are you adapting to it this late when you have been in the traditional system for so long?
Well just as other users have also said earlier, Bitcoin isn't get a legal tender and until it is declared a global legal, I think people should minimize how much praise they sign of crypto and also try as much as possible to also educate people as well in the dangers possession of Bitcoin can cause due to it's very volatile nature.
I also want you to understand that Bitcoin being like a digital gold just as you mentioned should be seen as an investment option rather than pressuring it to wanting to make it a legal tender.
Not all are lucky to know Bitcoin early and he is into traditional system for so long, so his focus might only be there at all times and he forgot or he doesn't believe on other financial system but it's great that he woke up and realize that the traditional system that he always support is not doing the same thing or care for him. Well just as other users have also said earlier, Bitcoin isn't get a legal tender and until it is declared a global legal, I think people should minimize how much praise they sign of crypto and also try as much as possible to also educate people as well in the dangers possession of Bitcoin can cause due to it's very volatile nature.
I also want you to understand that Bitcoin being like a digital gold just as you mentioned should be seen as an investment option rather than pressuring it to wanting to make it a legal tender.
Bitcoin is already a legal tender on some countries and it's expected that their numbers will grow later on but even if our country isn't among the list, it was still possible to rely only in Bitcoin. Bitcoin originally came out as a currency. This was its main use but being asset is only secondary. We are actually encourage to use BTC actively as a currency as this could help Bitcoin to grow more.
You're right senior but on the other hand, have you thought of the transaction fees and it's conversion to other local currencies? I guess no because I recently sent $150 and it almost my broke my heart that I was charged over $9 and when converted to my local currency at the rate of #730 per dollar, that's over 6000 naira, and I see no reason sending Bitcoin to someone in same country with me when I can easily trade my coin and send it to them as local Fiat.
Please don't get me wrong, I'm personally interested in seeing Bitcoin as a legal tender most especially globally even if it wouldn't be now but let it be soon.
Today, knowing both worlds, it is the only currency that I trust, it is the only system that I trust and I will dedicate my life to carry this forward. Bitcoin forever.
I remember the times that I made fiat transaction and it failed, going to bank several times before it was solved, this happens twice to me before.It is true that fiat is flawed, but we still so much depend on it because people like to support what the government support. We still use fiat for many reasons, some people that are into crypto and receiving salary or wage in bitcoin or other crypto still depending on fiat and they convert their salary or wage to fiat for spending.
But fiat makes us lacks freedom from government, bitcoin gives the freedom. Fiat is also decreasing in value, unlike bitcoin which can be considered as a speculative asset and a store of value.
I like your enthusiasm but bitcoin has not yet broken the financial system.
Nothing can break the fiat financial system. Bitcoin was not created to breake the financial system. It is just an alternative and we have many types of money, bitcoin belongs to one type which are a valuing asset.We might see a big change when CBDC has been launched by the government, it's either they will ban Bitcoin or they still consider to accept it.
CBDCs are not different from fiat, why would bitcoin be banned because of CBDC/fiat when the fiat are existing before bitcoin.Why is there always concern among some governments or central banks about the potential impact of Bitcoin on financial stability?
Welcome to the forum and I love how positive you are about Bitcoin but why are you adapting to it this late when you have been in the traditional system for so long?
Well just as other users have also said earlier, Bitcoin isn't get a legal tender and until it is declared a global legal, I think people should minimize how much praise they sign of crypto and also try as much as possible to also educate people as well in the dangers possession of Bitcoin can cause due to it's very volatile nature.
I also want you to understand that Bitcoin being like a digital gold just as you mentioned should be seen as an investment option rather than pressuring it to wanting to make it a legal tender.
Not all are lucky to know Bitcoin early and he is into traditional system for so long, so his focus might only be there at all times and he forgot or he doesn't believe on other financial system but it's great that he woke up and realize that the traditional system that he always support is not doing the same thing or care for him. Well just as other users have also said earlier, Bitcoin isn't get a legal tender and until it is declared a global legal, I think people should minimize how much praise they sign of crypto and also try as much as possible to also educate people as well in the dangers possession of Bitcoin can cause due to it's very volatile nature.
I also want you to understand that Bitcoin being like a digital gold just as you mentioned should be seen as an investment option rather than pressuring it to wanting to make it a legal tender.
Bitcoin is already a legal tender on some countries and it's expected that their numbers will grow later on but even if our country isn't among the list, it was still possible to rely only in Bitcoin. Bitcoin originally came out as a currency. This was its main use but being asset is only secondary. We are actually encourage to use BTC actively as a currency as this could help Bitcoin to grow more.
Welcome to this forum and feel free to learn various things about crypto.
I don't imagine that bitcoin will replace fiat because, until now, few countries have allowed using bitcoin as a legal currency. So I guess people are also still using fiat as a payment system while using bitcoin as their investment. And even though there may be high inflation, the government will not give up its fiat and switch to bitcoin because they will maintain and try to stabilize the economy.
So for now, we can use bitcoin as an investment first and it is the right choice for you because you can already see the potential of bitcoin, which can benefit you.
I don't imagine that bitcoin will replace fiat because, until now, few countries have allowed using bitcoin as a legal currency. So I guess people are also still using fiat as a payment system while using bitcoin as their investment. And even though there may be high inflation, the government will not give up its fiat and switch to bitcoin because they will maintain and try to stabilize the economy.
So for now, we can use bitcoin as an investment first and it is the right choice for you because you can already see the potential of bitcoin, which can benefit you.
Snip ~
This is true, some people think it just as easy investment that you will gain profit in just putting your assets in Bitcoin. People should have proper knowledge about how volatile bitcoin that it changes its value from time to time. However, it still deserve a praise as it gives a lot of opportunity to people which we can see here in forums. Also having bitcoin as your assets couldn't be a danger if you're not selling. Hodling can even cost more for your profit in a long period of time so I don't consider it dangerous I consider it as treasure that you are holding. Never be afraid to hold and buy and dump so once bitcoin pumped get your profit.
Welcome!
We all got the same thoughts about bitcoin and that's why we're all here and staying because we all share the same idea and vision about bitcoin. And the issues that the banks, traditional systems and the same in their sector is showing the flaws that they've got.
It is giving the highlights for bitcoin and soon more people will understand why many advocates of bitcoin have been telling this for a long time that, they should buy bitcoin.
We all got the same thoughts about bitcoin and that's why we're all here and staying because we all share the same idea and vision about bitcoin. And the issues that the banks, traditional systems and the same in their sector is showing the flaws that they've got.
It is giving the highlights for bitcoin and soon more people will understand why many advocates of bitcoin have been telling this for a long time that, they should buy bitcoin.
In my opinion, Bitcoin is unlikely to disrupt the traditional financial system. This is due to the fact that the traditional financial system is supported by centralized governments, whereas Bitcoin is supported by its community. Governments are unlikely to relinquish their control over the financial system and adopt Bitcoin. Although Bitcoin is based on modern technology, its decentralized nature has made it challenging to achieve widespread adoption globally. Although some governments have accepted Bitcoin, they are not willing to cede control to it. Therefore, they continue to rely on the traditional financial system instead of embracing Bitcoin.
I will agree with you, even though we are bitcoin investors and we all want bitcoin to win and replace fiat in the future. But we need to admit and accept the fact that it will be very unlikely and may never happen. As long as the government controls us, there cannot be a decentralized system to lead and manage this world. Assuming I was the government, I would also find a way to stop bitcoin at all costs, simply because it's not in my favor. It's good but it doesn't benefit us but only benefits others, we will never need it, that's what the government is thinking.
Bitcoin is deflationary, since more and more people are introduced into bitcoin every day. Since the rate of bitcoin creation will sooner or later return to zero, we will have a massive deflation. Also you need to consider that day by day bitcoins are lost forever, which is a problem that to this day is not solved.
Technically its production rate only hits zero in 2140 that surely not too soon. We can say about when it happen, in what year, not sooner or later.The chart does not tell me anything that Bitcoin is deflationary. Deflation definition. I disagree if we only want to call Bitcoin is deflationary because of past and future lost bitcoins from careless people and because of its lower production rate in future as effects from its future halving.
Block rewards will become less and less but it is still inflationary.
Yeah and actually, if there is no bitcoin at all, we perhaps wouldn't care about our privacy and use anything the governments order us to do so. Thanks to satoshi, now we are fully aware about how important our privacy is, and the other benefits we get by using bitcoin like the less fee for money transaction, and the shorter delivery time to send money worldwide.
People should give rounds of applause to Satoshi Nakamoto for the creation of Bitcoin that changed the world. There are some development efforts before Bitcoin but Bitcoin is a first cryptocurrency which revolutionize transactions between people.Bitcoin prehistory
Bitcoin deserves praise but need not be exaggerated to the point of sometimes being untrue. I'd rather talk about the volatility and risk of investing in bitcoin than flatter it. If a newbie all day only hears about the miracle stories of bitcoin without knowing the price to pay when investing in bitcoin, it will only harm them.
Holding bitcoins still has some dangers, bitcoin has existed and developed for more than 14 years, but so far, it has not been fully accepted or legalized globally. That means it's still risky, and we have no evidence that it will last for the next 14 years. Invest with money you can lose, don't forget this saying.
The issue where people tend to talk like bitcoin has no issues or bitcoin is so amazing, comes from the fact that fiat has so many issues that the issues in bitcoin looks too small for some people.Holding bitcoins still has some dangers, bitcoin has existed and developed for more than 14 years, but so far, it has not been fully accepted or legalized globally. That means it's still risky, and we have no evidence that it will last for the next 14 years. Invest with money you can lose, don't forget this saying.
I am not saying that's true, there is a reality that we are not talking about bitcoins shortcomings as well and it's true that there are some stuff that could get better, like miners potentially having too much power, or maybe the fee, or maybe some other thing, volatility is definitely a big one. However, when you compare all of the problems of bitcoin in the past 15 years since it was just a concept, I can say that a single day in fiat could still be worse than all of it combined.
Today, knowing both worlds, it is the only currency that I trust, it is the only system that I trust and I will dedicate my life to carry this forward. Bitcoin forever.
But you're still need to use fiat because you can't use Bitcoin to pay anything in your country, so you're still trusting fiat even you're not use it as to store your wealth. We might see a big change when CBDC has been launched by the government, it's either they will ban Bitcoin or they still consider to accept it. But you can still use Bitcoin since there's a way to trade Bitcoin without need a permission from centralized entity, as long as you not make any mistake.There are changes later to the CBDC but the government still has control over it whereas there is no prohibition for bitcoin it's just that it's a commodity asset and won't be completely legal in a certain country, so even though we believe in bitcoin in the future I think fiat is still not replaced.
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First and foremost, I would like to welcome you to this forum, and I hope you stay active here to share more of your knowledge with the financial market with us here.
Bitcoin have indeed changed the narrative, Bitcoin have given hope to the hopeless and freedom to the captive, it is left for people to accept it, fiat has failed us several times, and will continue to fail as long as it is been controlled by a set of untrustworthy individuals, Bitcoin is a better option and i cant wait for the time when bitcoin payments will become fully integrated into our payment systems.
Bitcoin have indeed changed the narrative, Bitcoin have given hope to the hopeless and freedom to the captive, it is left for people to accept it, fiat has failed us several times, and will continue to fail as long as it is been controlled by a set of untrustworthy individuals, Bitcoin is a better option and i cant wait for the time when bitcoin payments will become fully integrated into our payment systems.
Welcome to the club, but then I will like you to know that there is a big difference between being a financial agent and a financial analyst and at that you may need the latter to aid your success in your newfound love of Bitcoin.
And also while you are at that, you should take time to study the interconnectedness of the decentralized financial system and the traditional financial system since you are dealing with global assets as an investor.
And also while you are at that, you should take time to study the interconnectedness of the decentralized financial system and the traditional financial system since you are dealing with global assets as an investor.
welcome to the club mate 
pretty good exposure but the problem for now remains we can't ignore the fiat. regardless of how good bitcoin is, we still won't be able to leave it, especially in countries that are still in that system.
Being in bitcoin will indeed be very good but fiat also needs to be there for our lives, even though we don't really do anything big there but when we support our daily needs then we need fiat for that.
pretty good exposure but the problem for now remains we can't ignore the fiat. regardless of how good bitcoin is, we still won't be able to leave it, especially in countries that are still in that system.
Being in bitcoin will indeed be very good but fiat also needs to be there for our lives, even though we don't really do anything big there but when we support our daily needs then we need fiat for that.
CBDCs are tools for governments to control their citizens and their cash flows better. Using CBDCs, privacy is gone but I think many people don't mind about privacy. They will have no issue to use CBDCs and some others will continue to use fiat currencies, Bitcoin & cryptocurrency and CBDCs for their lives. They have no problem to co-use those currencies.
Yeah and actually, if there is no bitcoin at all, we perhaps wouldn't care about our privacy and use anything the governments order us to do so. Thanks to satoshi, now we are fully aware about how important our privacy is, and the other benefits we get by using bitcoin like the less fee for money transaction, and the shorter delivery time to send money worldwide.
I already wrote that I do not agree that we should put CBDC and Bitcoin in the same category of complexity, because digital fiat is nothing more than a visual display of one's funds in a government application - there are no fees, transactions are instant and there is no need to think too much. In addition, when the time comes for digital euros or US dollars, you will be able to pay with them anywhere, with Bitcoin this will probably never be the case.
Well yeah that's the truth, digital fiat is just a normal fiat in virtual version, and claimed by the governments as the easier transaction tools, which in fact, the real value of that is our privacy, where they could monitor our transactions easier and more efficient.
In my opinion, Bitcoin is unlikely to disrupt the traditional financial system. This is due to the fact that the traditional financial system is supported by centralized governments, whereas Bitcoin is supported by its community. Governments are unlikely to relinquish their control over the financial system and adopt Bitcoin. Although Bitcoin is based on modern technology, its decentralized nature has made it challenging to achieve widespread adoption globally. Although some governments have accepted Bitcoin, they are not willing to cede control to it. Therefore, they continue to rely on the traditional financial system instead of embracing Bitcoin.
Congrats on stepping over and creating your first post! You'll find that the forum isn't only about bitcoin, but about a lot of stuff that encompass multiple aspects of life too. Find a board that resonates with you and maybe go ham with it! In any case...
I think you're right for the most part, the fact that the governments do have control over the financial system and even the stock market in certain scenarios is a little concerning. But at the same time. as much as bitcoin is hoping to break this system and impose its own liberated form of investment and financial system, we still haven't gone to that phase yet, as many have pointed out. There's still ways to go and changes to be made before bitcoin could break the current financial system, but we're getting there!
I think you're right for the most part, the fact that the governments do have control over the financial system and even the stock market in certain scenarios is a little concerning. But at the same time. as much as bitcoin is hoping to break this system and impose its own liberated form of investment and financial system, we still haven't gone to that phase yet, as many have pointed out. There's still ways to go and changes to be made before bitcoin could break the current financial system, but we're getting there!
Today, I can affirm that, although it may be clear to many people, the traditional system is weak and flawed, it doesn't work and will suffer crashes from time to time, but it is a system that those in charge have found, governments have found to be able to control people and their capital.
If I digest your statement, this implies that the traditional system, which presumably refers to the current economic and political system, is flawed and ineffective, and prone to failure and collapse. However, it is important to note that there are varying opinions on this matter, and many people may have different perspectives on the effectiveness of traditional systems.
Bitcoin is not deflationary but it is actually inflationary. Each 10 minutes, new bitcoins will be created from each new mined block. How many bitcoins will be created by each block depends on block reward at that era. After 210,000 blocks, a new era will come by a new block reward halving.
Calling Bitcoin as a deflationary asset is a lie to attract more people.
Controlled supply
The chart shows its inflation vs time.
Bitcoin is deflationary, since more and more people are introduced into bitcoin every day. Since the rate of bitcoin creation will sooner or later return to zero, we will have a massive deflation. Also you need to consider that day by day bitcoins are lost forever, which is a problem that to this day is not solved.
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