Can Bitcoin save us - page 5. | Bitcointalksearch.org

BALIK

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Quote from: knowngunman on October 01, 2024, 03:13:56 AM

Quote from: Nothingtodo on September 30, 2024, 11:07:48 PM

Bitcoin acts as emergency savings and we can use the insurance money as per our needs just like Bitcoin acts as a reserve currency for me and my family. I basically depended myself and my family on Bitcoin to a large extent. So if I give my opinion then I must say Bitcoin helps us.

I'm getting confused here because I don't understand what you mean by "you and your family depend on bitcoin to a large extent". Is there anything that bitcoin is doing for people and I'm not aware of it? Is it not alternative currency devoid of government control again?

Bitcoin as an emergency savings? I think you are having a wrong perception about bitcoin if you hold bitcoin for emergency case instead of holding for the future. Have you imagined having emergency when the entire market is bleeding blood or when the blockchain is congested and you need a higher fee to escalate your transaction? You really want to use bitcoin to solve emergency situation during such period? You'll definitely regret using bitcoin for your emergency.

If he really uses bitcoin as an emergency savings, I wonder how he will survive and get through the economic crisis of 2022. If I remember correctly, during the 2022 bear season, which was also a period of economic crisis, the value of bitcoin fell more than 75% from its all-time high in 2021. If his savings were in bitcoin, it might not lose 75% but it would lose a significant amount of value. I am amazed at how he solved the problem and was able to survive until now.

No offense but I guess he doesn't know what he's talking about.

Quote from: Reatim on October 01, 2024, 12:44:59 AM

Meanwhile people who save are smart but money saved will just decrease in value but bitcoin rises so if you want to save money for emergency purposes it is better to put it into bitcoin to make sure that it fights against inflation.

Is Bitcoin really a good inflation hedge when during the inflation peak in 2022, Bitcoin fell from $69,000 to $15,000? What happens when you need money for an emergency while your savings are in bitcoin and the value has plummeted?

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Quote from: Nothingtodo on September 30, 2024, 11:07:48 PM

Bitcoin acts as emergency savings and we can use the insurance money as per our needs just like Bitcoin acts as a reserve currency for me and my family. I basically depended myself and my family on Bitcoin to a large extent. So if I give my opinion then I must say Bitcoin helps us.

I'm getting confused here because I don't understand what you mean by "you and your family depend on bitcoin to a large extent". Is there anything that bitcoin is doing for people and I'm not aware of it? Is it not alternative currency devoid of government control again?

Bitcoin as an emergency savings? I think you are having a wrong perception about bitcoin if you hold bitcoin for emergency case instead of holding for the future. Have you imagined having emergency when the entire market is bleeding blood or when the blockchain is congested and you need a higher fee to escalate your transaction? You really want to use bitcoin to solve emergency situation during such period? You'll definitely regret using bitcoin for your emergency.

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Quote from: Nothingtodo on September 30, 2024, 11:07:48 PM

Bitcoin acts as emergency savings and we can use the insurance money as per our needs just like Bitcoin acts as a reserve currency for me and my family. I basically depended myself and my family on Bitcoin to a large extent. So if I give my opinion then I must say Bitcoin helps us.

This is a great way of using bitcoin. I usually discourage people who say that they depend on bitcoin but if you mean depend on it for emergency reasons then I can understand. Families who would buy bitcoin with what is left of their money just to take it out again when they no longer have money would reach nowhere. You are just sabotaging yourself in that case.

Meanwhile people who save are smart but money saved will just decrease in value but bitcoin rises so if you want to save money for emergency purposes it is better to put it into bitcoin to make sure that it fights against inflation.

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Quote from: khiholangkang on September 29, 2024, 04:28:10 PM

Quote from: Smartvirus on August 28, 2024, 01:53:04 PM

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For me personally bitcoin is an asset to benefit at the moment of bullrun, but if you talk about whether bictoin can be a savior as something that will benefit us when the economy slumps, of course it is not illogical if with prices and fluctuations according to market demand, people will not run there, they need to save their money if the economy slumps globally, and when the decline is in its phase is the right time to buy bitcoin, because then we will return why the original trend.
Bitcoin will save us if we buy at the bottom price, when everyone is scared to keep their money in bitcoin.

Agree with you, Bitcoin is an alternative when the economy is in decline because it can protect against the negative impacts as well as exchange rate fluctuations and inflation. Amid this uncertainty, Bitcoin has emerged as an attractive option as it offers the advantage of being an asset that is not tied to a country’s monetary policy and has a decentralized nature that makes it more resilient to any pressure.
Over time, Bitcoin has proven its qualities as a highly effective asset for those seeking growth opportunities and hedging. DCA is one strategy that can be considered to prevent panic. By using this strategy, investors can reduce the impact of market volatility and avoid the risk of making large investments at peak prices.

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Bitcoin acts as emergency savings and we can use the insurance money as per our needs just like Bitcoin acts as a reserve currency for me and my family. I basically depended myself and my family on Bitcoin to a large extent. So if I give my opinion then I must say Bitcoin helps us.

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Quote from: Iranus on September 30, 2024, 10:33:32 AM

No one can save us but ourselves, and bitcoin is just one of thousands of tools we can use to save ourselves. If we are both ignorant and lazy, just like to dream and don't want to work, then even God cannot save us, let alone bitcoin.

Yes, Bitcoin is one way for us to achieve what we are targeting, to improve our financial quality, to develop our mindset and point of view, and to provide a life that is expected to be much better than before knowing Bitcoin. However, this is one way, not the only way. That is why there are still many people who do not choose this method and only consider the negative side. and they prefer other things that turn out to be very worth it and work very well for them.

The point is, wherever we optimize the chance, when we are really serious about it, then we will be able to achieve that success. And here, because we are in the crypto space, Bitcoin is indeed the main reason it is still in the crypto space.

And the way we treat Bitcoin will also affect the results. How we manage its assets, our emotions, and also manage the funds that we will put in Bitcoin will also affect the results. because if not, it could actually backfire and make us really fail and lose money much more. But if we succeed, then we will really feel the potential of Bitcoin which is truly valuable.

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Quote from: hypersonic1 on September 30, 2024, 04:41:08 PM

What I know is that i've had to restart twice in my life from terrible circumstances. I've been using bitcoin for over half a decade now. Bitcoin has been at the center of me recovering. It's already saved me.

I bet you had the resources to get started with Bitcoin the second time you restarted from a terrible circumstance because Bitcoin is no magic wand that you swirl and get food on the table and money in the bank. So I don't understand why some people think Bitcoin can help poor people, or Bitcoin can make someone go rich from poor, etc. All these arguments make no sense to me because Bitcoin is money but volatile, can you have money out of nowhere? No, you can't.

So if someone isn't doing well financially, they can't just start using Bitcoin and improve their conditions. Bitcoin can be seen as a financial investment asset but that is for people who have enough resources to utilize this property of Bitcoin. If you don't have money you can use to buy Bitcoin, there is only one way you can earn it, by working. You get a job, get paid, and use that money to buy Bitcoin and then either hold or sell for some profit. The bottom line is, you need to work for it if you don't have enough resources. It doesn't do anything itself for you.

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Quote from: syedakhlaque on September 29, 2024, 01:22:08 PM

The world economy and stock market does not have much effect on the crypto market.Cryptocurrencies have had their own flair since the beginning. Even the price of gold does not affect it much.

This is not possible by all standards because all sectors of the financial economy affect each other. The crypto market is not an independent market in a parallel world. It is part of the global economy and is linked to the movement of the global market, especially the stock market and the transfer market. That is why many aspire to change from Bitcoin to solve the problems of the traditional market by searching for better options and realistic alternatives. It is true that Bitcoin is not recognized as an official currency, but it is generally accepted and no party can ignore it anymore. Therefore, the entire crypto market has become a reality and must be dealt with. This vision is motivating for many countries that have started the path of change.

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What I know is that i've had to restart twice in my life from terrible circumstances. I've been using bitcoin for over half a decade now. Bitcoin has been at the center of me recovering. It's already saved me.

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Quote from: Smartprofit on September 29, 2024, 02:23:02 PM

In my opinion, Bitcoin has not become a new popular means of payment.

Check again bitmover's post, he didn't say Bitcoin is a new popular payment method. Wink

Anyway, we can't deny Bitcoin already became an alternative of payment method since there are people who already did it. Even Bitcoin still can't be a payment alternative in every country in the world, but it is the fact that people could use Bitcoin as a payment.

You are explaining if Bitcoin is still not an effective payment tool. It is true, but it doesn't mean Bitcoin can't be an alternative payment in every country in the world someday.

Quote from: Smartprofit on September 29, 2024, 02:23:02 PM

There are many other reasons why people rarely use Bitcoin as a means of payment (high price volatility, difficult to predict the size of miners' fees, an alternative in the form of stablecoins, etc.)

In my country, the main reason why people can't use Bitcoin as a payment tool because it is illegal here. The laws only allows our currency (Rupiah) as legal payment tool. However, it is possible that someday there is laws amendment (change in laws) related to legal currency here. If government allows other currencies, Bitcoin may be considered to be legalized.

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Quote from: Learn Bitcoin on September 30, 2024, 09:23:29 AM

Bitcoin is not here to save anyone. If the user cannot use Bitcoin properly, that is the fault of the Bitcoin user, not the Bitcoin. The developers cannot help people adopt Bitcoin. Bitcoin is not something that can change someone on it's own. I do believe that the developers know how people using Bitcoin and for what purposes. But the developers cannot tell people what to do. I don't know why do you think Bitcoin has to save someone. Bitcoin is an asset which users should use properly, and they can benefit from it. Everyone has a different point of view towards Bitcoin. While I hold it and think it as investment, another person use it to pay for their porn account subscription Wink

No one can save us but ourselves, and bitcoin is just one of thousands of tools we can use to save ourselves. If we are both ignorant and lazy, just like to dream and don't want to work, then even God cannot save us, let alone bitcoin.

Likewise, not everyone who invests in bitcoin will make a profit and become rich, many people lose money and even lose everything when investing in bitcoin. And it's not Bitcoin's fault, it's our own.

How our lives turn out is entirely up to us, no one can decide our fate for us. Bitcoin or any investment is just tool or means to use and whether we use it effectively or not is up to us.

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Quote from: Learn Bitcoin on September 30, 2024, 09:23:29 AM

Bitcoin is not here to save anyone. If the user cannot use Bitcoin properly, that is the fault of the Bitcoin user, not the Bitcoin. The developers cannot help people adopt Bitcoin. Bitcoin is not something that can change someone on it's own. I do believe that the developers know how people using Bitcoin and for what purposes. But the developers cannot tell people what to do. I don't know why do you think Bitcoin has to save someone. Bitcoin is an asset which users should use properly, and they can benefit from it. Everyone has a different point of view towards Bitcoin. While I hold it and think it as investment, another person use it to pay for their porn account subscription Wink

Bitcoin is only a tool that could turn into a profitable long term investment, as well as using it as a currency in shops that freely accept bitcoin as a mode of payment. Now, talking it as something that can save us, I know it has actually the potentials to help us improve our position right now, but it can't be possible if the user or investor itself is not wise enough to manage and hold bitcoin.

Bitcoin brings a lot of advantages over other investments and other mode of payment. It's just that, majority are still unaware or let's say in denial about what bitcoin can do to them. Maybe it's just a matter of acceptance and adaption so that people will be more knowledgeable and reliable enough to manage bitcoin.

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Bitcoin is not here to save anyone. If the user cannot use Bitcoin properly, that is the fault of the Bitcoin user, not the Bitcoin. The developers cannot help people adopt Bitcoin. Bitcoin is not something that can change someone on it's own. I do believe that the developers know how people using Bitcoin and for what purposes. But the developers cannot tell people what to do. I don't know why do you think Bitcoin has to save someone. Bitcoin is an asset which users should use properly, and they can benefit from it. Everyone has a different point of view towards Bitcoin. While I hold it and think it as investment, another person use it to pay for their porn account subscription Wink

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Quote from: RockBell on September 29, 2024, 05:31:31 PM

Quote from: khiholangkang on September 29, 2024, 04:28:10 PM

For me personally bitcoin is an asset to benefit at the moment of bullrun, but if you talk about whether bictoin can be a savior as something that will benefit us when the economy slumps, of course it is not illogical if with prices and fluctuations according to market demand, people will not run there, they need to save their money if the economy slumps globally, and when the decline is in its phase is the right time to buy bitcoin, because then we will return why the original trend.
Bitcoin will save us if we buy at the bottom price, when everyone is scared to keep their money in bitcoin.

It's an asset but it is not only during the bull run that you will make profit because it is not yet the bull run and people are still making profits the understanding and how you operate in that understanding is what will guarantee your profit making, and even with this economy slum people are making a way out of bitcoin, it depends if you really want to make a way. The fluctuations is not something that is what is suppose to be discouraging people from investing that is if you really want to invest. And market demand clearly affects the markets the price will definitely increase.

People are always use have the same tradition of Saving money instead of them to invest the money, and now that they have the likes of bitcoin they should give it a try. Buying at the low price, is the best you can accumulate and sell when it is actually time to time to sell.

In view of bitcoin I think you are right, but if you look at the factor that people who have bitcoin will be afraid when there is an economic crisis or other things that threaten the global economy, people's habits will be more afraid of losing the value of their money, the views you give will be in line if bitcoin has been accepted as a means of payment in more than 50% of the world's countries or assets that are believed to be a hedge like gold, the occurrence of a crisis with the current adopted population I think it will be difficult to survive if high fluctuations occur, maybe you will say that why not hold it and continue to hold it in the long run because we can come back, but some people are not that strong, so choosing an alternative path that can be taken and can be accounted for is better.

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Quote from: khiholangkang on September 29, 2024, 04:28:10 PM

For me personally bitcoin is an asset to benefit at the moment of bullrun, but if you talk about whether bictoin can be a savior as something that will benefit us when the economy slumps, of course it is not illogical if with prices and fluctuations according to market demand, people will not run there, they need to save their money if the economy slumps globally, and when the decline is in its phase is the right time to buy bitcoin, because then we will return why the original trend.
Bitcoin will save us if we buy at the bottom price, when everyone is scared to keep their money in bitcoin.

It's an asset but it is not only during the bull run that you will make profit because it is not yet the bull run and people are still making profits the understanding and how you operate in that understanding is what will guarantee your profit making, and even with this economy slum people are making a way out of bitcoin, it depends if you really want to make a way. The fluctuations is not something that is what is suppose to be discouraging people from investing that is if you really want to invest. And market demand clearly affects the markets the price will definitely increase.

People are always use have the same tradition of Saving money instead of them to invest the money, and now that they have the likes of bitcoin they should give it a try. Buying at the low price, is the best you can accumulate and sell when it is actually time to time to sell.

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Quote from: Smartvirus on August 28, 2024, 01:53:04 PM

Quote from: TsenTsen on August 27, 2024, 12:53:26 PM

Unless the problem of Bitcoin's high volatility is solved, it will never could replace dollars or FIAT.

I doubt the context of OP referred to Bitcoin as a replacement to fiat or the dollar.
Something we need to understand is that, the fiat is not just a currency, it’s an identity, a mode of doing businesses within a locality and across borders. You ain’t going to through all that in the wind because of a highly volatile or unstable Bitcoin.
What is a government without control, fiat brings the government that control and it is accessible to all unlike Bitcoin that is accessible only to the internet and gadget enabled population.

While Bitcoin might help by some means, it’s not the savior of our economic crisis. The world seems to be growing faster than it’s producing and we need to reverse that.

For me personally bitcoin is an asset to benefit at the moment of bullrun, but if you talk about whether bictoin can be a savior as something that will benefit us when the economy slumps, of course it is not illogical if with prices and fluctuations according to market demand, people will not run there, they need to save their money if the economy slumps globally, and when the decline is in its phase is the right time to buy bitcoin, because then we will return why the original trend.
Bitcoin will save us if we buy at the bottom price, when everyone is scared to keep their money in bitcoin.

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Quote from: bitmover on August 05, 2024, 09:10:59 AM

Quote from: moonie on August 05, 2024, 05:36:58 AM

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

Don't you see hundreds of people using bitcoin as a p2p payment method here every day for the last 10 years? How come it failed? Lol

Bitcoin is also important as a reserve of value to protect against inflation. It is both.

In my opinion, Bitcoin has not become a new popular means of payment.

At the same time, money has two most important functions - the first is payment, and the second is savings. Bitcoin, it must be admitted, does not perform the payment function well. There are many reasons for this....

Bitcoin has a technical limit on the number of daily transactions (about 300,000). This is too little for 8 billion inhabitants of planet Earth to use it to buy goods, work, services. In addition, in many countries of the world, the use of Bitcoin to pay for goods, work, services is prohibited by law. Governments do not want Bitcoin to become a competitor to national currencies.

There are many other reasons why people rarely use Bitcoin as a means of payment (high price volatility, difficult to predict the size of miners' fees, an alternative in the form of stablecoins, etc.)

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The world economy and stock market does not have much effect on the crypto market.Cryptocurrencies have had their own flair since the beginning. Even the price of gold does not affect it much.
His wheel has its own unique style and temperament, which is beyond the understanding of the common man. And these business styles are not found in any other business. The daily increase in its sub-coin and the fluctuation in its price value are also its uniqueness.So brother, whatever the state of the world may be. Whether it is the problem of Corona or something else, the business of Bitcoin continues.

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Quote from: moonie on August 05, 2024, 05:36:58 AM

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

We can not rely on the US dollars or any other currency to save the world because they can not. All currency that are centralized has one flaw and that is they are infinite, they keep printing more money when they run into problems but printing more money does not inflation which is the problem and only increase it. Bitcoin can help us to avoid getting our money to get inflated because when we store our money in Bitcoin, and when the price rise it is giving us more money when we covert it to any fiats of our choice. We do not need Bitcoin core or developers to decide what Bitcoin is because Bitcoin was created for the society and we can decide if we want to use it as a currency or as digital gold. We can also use it for the both purpose because Bitcoin is capable of being an asset and also other things.

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Quote from: moonie on August 05, 2024, 05:36:58 AM

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

With "Wall Street" in the game, I doubt Bitcoin will be able to save the world. Besides, we're still stuck in the Fiat standard. Governments are yet to build their own BTC reserves. Gold is the clear winner here. Unless this changes in the future, don't expect Bitcoin to go anywhere soon.

I believe BTC is marketed as "digital gold" because of its scarcity and unmatched security/reliability. The high fees prevent people from using it as digital cash, anyways. I'm fine with Bitcoin being an alternative to Fiat as long as it remains decentralized and censorship-resistant. Replacing Fiat would be nothing more than a dream. Although, I could be wrong...

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