Whether it is cryptocurrency or fiat, it always have its importance and the advantage over the other. When we make use of it, we should make use of the good part than the bad which in reality is a difficult thing. It is really impossible to end the usage of fiat all around the world. The fiat system serves to be the backing, whereas cryptocurrency is developed as an alternate to fulfill what is being missed by the fiat system.
Different people have got different reasons for holding cryptocurrency. Tax evasion shouldn't be considered a reason. In the past people benefitted out of it, but things have changed over time. This is one of the reason why governments fear of legalizing cryptocurrency. Surely technical progress will be made by government to tax on cryptocurrency profit. As mentioned having control over own funds can be considered the best, along with the limited supply that assure with the growth on the investment.
Topic: Cryptocurrency beats having faits at every point - page 2. (Read 321 times)
Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.
I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.
I would say that 10 years of bitcoin provided an answer to everyone who had doubts about owning it in its entirety. Designed as a modern financial system and a transaction tool to make it easier for anyone and anywhere to do it.
Bitcoin was not designed with the intention of defying government regulations by avoiding taxes or other regulations.
Bitcoin only offers a solution to the financial system that is very easy and fast without the need for a third party. If the government wants to use the bitcoin network, of course it is allowed. But unfortunately, bitcoin is considered too negative which can have a bad impact on people.
Bitcoin users are fully responsible for their bitcoin ownership. My keys, my coins.
Well, if you think you are "free from taxes" then you are wrong.... because the government will eventually figure out what you are doing and they will throw you in jail or give you a hefty fine.
The fact that Crypto currencies are banned in your country, makes this even worse for you, because you are not just breaking one law... but also the law that prohibit Bitcoin ownership.
The fact that Crypto currencies are banned in your country, makes this even worse for you, because you are not just breaking one law... but also the law that prohibit Bitcoin ownership.
I don't understand why people are always coming up with the crypto is anti-fiat comparison. At best cryptocurrencies is anti-capitalism, but never did anyone specify that crypto is against the use of fiat.
Come to think of it, outside of El Salvador and any other country on the planet that uses bitcoin/crypto for payments and transactions you could never find any place that doesn't require you to pay with fiat for goods and services, try giving them bitcoin and see how sour their faces turn into once you say that to them lol. Crypto is your leverage, it's what you use to make sure your fiat's never losing its value against inflation, with the added bonus of turning a profit at the end of it. Fiat is what you use to transact and remain alive in this planet. If you single out crypto cause it's great and you can use it for transactions what you'd only end up with is yet another fiat in the making. It's time to stop comparing crypto and fiat cause these two work hand-in-hand, not against each other.
Come to think of it, outside of El Salvador and any other country on the planet that uses bitcoin/crypto for payments and transactions you could never find any place that doesn't require you to pay with fiat for goods and services, try giving them bitcoin and see how sour their faces turn into once you say that to them lol. Crypto is your leverage, it's what you use to make sure your fiat's never losing its value against inflation, with the added bonus of turning a profit at the end of it. Fiat is what you use to transact and remain alive in this planet. If you single out crypto cause it's great and you can use it for transactions what you'd only end up with is yet another fiat in the making. It's time to stop comparing crypto and fiat cause these two work hand-in-hand, not against each other.
What's even more interesting is that they constantly compare bitcoin with fiat, they are ready to talk bad about fiat everywhere and praise the beauty of bitcoin. But then their real lives still use fiat money every day, including banks, they wouldn't even be able to survive if their lives didn't have fiat. It's confusing that we want to badmouth it everywhere but eventually we will convert our bitcoins to fiat and use fiat.
I agree with you, we should stop comparing those 2 with each other because we have different tasks and use cases.
"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.
I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.
Aside from the fact that fiat is government backed, I don’t see any reason why people will always prefer to save in fiat currency on some local bank account and not have there savings in bitcoin rather. The doubt has always come in when it comes to the government perspective of them but, that’s how shallow or little they know of the currency.I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.
If they knew any better, they would have found reasons to take advantage of this time that volatility is very much playing out on your hodlings over time.
Quote
Ever since I learned about the dollar-cost averaging (DCA) strategy on this forum I've been committed to acquiring at least 1 BTC. It doesn't feel impossible anymore.
That’s the point, that’s why uou don’t have to procrastinate on buying bitcoin. You don’t have to look down on the little you start your investment with or continue to build a portfolio on. You have to understand that, it gets easier as you go and so long as you keep topping your portfolio, your goal of 1BTC is just at the corner. 
I like it when I see newbies making some nice research and I also like reading my post with tone of mood the op or writer might be and from your writings, I could feel the joy you already have for holding btc and I hope the joy stays and last forever.
I was wondering how you also manage cope with the transaction fees when doing DCA?
personally, one of the major reasons I enjoy cryptocurrency, bitcoin precisely is the ease of buying and also selling it and also the fact that it aids international transactions in the shortest possible time.
I was wondering how you also manage cope with the transaction fees when doing DCA?
personally, one of the major reasons I enjoy cryptocurrency, bitcoin precisely is the ease of buying and also selling it and also the fact that it aids international transactions in the shortest possible time.
I don't understand why people are always coming up with the crypto is anti-fiat comparison. At best cryptocurrencies is anti-capitalism, but never did anyone specify that crypto is against the use of fiat.
Come to think of it, outside of El Salvador and any other country on the planet that uses bitcoin/crypto for payments and transactions you could never find any place that doesn't require you to pay with fiat for goods and services, try giving them bitcoin and see how sour their faces turn into once you say that to them lol. Crypto is your leverage, it's what you use to make sure your fiat's never losing its value against inflation, with the added bonus of turning a profit at the end of it. Fiat is what you use to transact and remain alive in this planet. If you single out crypto cause it's great and you can use it for transactions what you'd only end up with is yet another fiat in the making. It's time to stop comparing crypto and fiat cause these two work hand-in-hand, not against each other.
Come to think of it, outside of El Salvador and any other country on the planet that uses bitcoin/crypto for payments and transactions you could never find any place that doesn't require you to pay with fiat for goods and services, try giving them bitcoin and see how sour their faces turn into once you say that to them lol. Crypto is your leverage, it's what you use to make sure your fiat's never losing its value against inflation, with the added bonus of turning a profit at the end of it. Fiat is what you use to transact and remain alive in this planet. If you single out crypto cause it's great and you can use it for transactions what you'd only end up with is yet another fiat in the making. It's time to stop comparing crypto and fiat cause these two work hand-in-hand, not against each other.
"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.
Cryptocurrencies like bitcoin and altcoins are volatile assets that have no fixed value. Stable coins are cryptocurrencies that are pegged to the US dollar and have a more stable price value. It’s not advisable to store all your money in crypto. You need to have just enough fiat in the bank to cover your expenses and lifestyle. Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
I would not blame your friend so much, he I probably just ignorant about what reasons you have in saving your funds by yourself in crypto-currency, yes there are many financial threats like ponzi (MMM e.t.c) that people have bad experience with so the are more skeptical about saving, sending their funds anywhere that isn't the banking system.
I think a proper enlightenment can really go a long way in educating that friend of yours, also on your part you should also know how to deal with crypto-currency seeing you coming from a region where crypto is ban
I think a proper enlightenment can really go a long way in educating that friend of yours, also on your part you should also know how to deal with crypto-currency seeing you coming from a region where crypto is ban
It is indeed the lack of understanding about Bitcoin the reason why his friend is puzzled why @OP is saving his money in crypto. If his friend is knowledgeable about cryptocurrency then he would not be asking that question.
As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊
The hedge against inflation is my second most favorite advantage of it against fiat currency. With this one can hold on to an asset that doesn’t depreciates and it is not hard to get like precious metals with similar advantages. The ability to also transact without having to covert from one currency to another is also important advantage.
My only advice is one to invest not all ones money into it so that you can hold on for longer time. Rushing to withdraw your bitcoin after investing everything into it all the time of emergency is bad
I like cryptocurrency because of its feature of boundless transfers. It is not controlled by any third party financial system and we are free to send and receive coins from any part of the word. Aside from that cryptocurrency enable the unbanked to participate in the global economy.
One of the fun of DCA is the fact that you already have a pre determine amount of Bitcoin to accumulate along the way, and this mindset will guide you in your approach to the market and this is one if the cardinal point that have motivated a lot of us in our quest to accumulating Bitcoin using the dollar cost average to approach and take chances in the market.
Bitcoin have been the best alternative to fiat in every sense of it and this have been the main reason why most people to store the money in Bitcoin instead of saving your money in a bank that doesn't give them any form of interest and subject their balance to taxation.
Bitcoin have been the best alternative to fiat in every sense of it and this have been the main reason why most people to store the money in Bitcoin instead of saving your money in a bank that doesn't give them any form of interest and subject their balance to taxation.
Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information.
I hope you are making use of anonymity preserving tools like Tor, otherwise your government already knows about your account in here.
I would not blame your friend so much, he I probably just ignorant about what reasons you have in saving your funds by yourself in crypto-currency, yes there are many financial threats like ponzi (MMM e.t.c) that people have bad experience with so the are more skeptical about saving, sending their funds anywhere that isn't the banking system.
I think a proper enlightenment can really go a long way in educating that friend of yours, also on your part you should also know how to deal with crypto-currency seeing you coming from a region where crypto is ban
I think a proper enlightenment can really go a long way in educating that friend of yours, also on your part you should also know how to deal with crypto-currency seeing you coming from a region where crypto is ban
You can have both and they are distinct in their use and application apparently. Although the control of ones income is more certain with cryptocurrencies compared to fait where the government and other monetary agencies are keeping an eye out for customers.
The charges needed to complete international transactions and trades might also be too high when compared to crypto, hence why I can agree that crypto beats fiat both in its ease of using it and carriage.
The reality is that, you will find yourself oneday in a physical environment where only fiat is used, there's no network or internet coverage and few persons with crypto knowledge. What then becomes of the coins in your wallet when you are stranded without fiat in hand?
The charges needed to complete international transactions and trades might also be too high when compared to crypto, hence why I can agree that crypto beats fiat both in its ease of using it and carriage.
The reality is that, you will find yourself oneday in a physical environment where only fiat is used, there's no network or internet coverage and few persons with crypto knowledge. What then becomes of the coins in your wallet when you are stranded without fiat in hand?
As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊
The hedge against inflation is my second most favorite advantage of it against fiat currency. With this one can hold on to an asset that doesn’t depreciates and it is not hard to get like precious metals with similar advantages. The ability to also transact without having to covert from one currency to another is also important advantage.
My only advice is one to invest not all ones money into it so that you can hold on for longer time. Rushing to withdraw your bitcoin after investing everything into it all the time of emergency is bad
Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information. I strongly believe that crypto will someday be accepted worldwide.
Using or investing in Bitcoin has so many benefits which sometimes force individuals to violate the laws of the land. If bitcoin is banned in your country and citizens are banned from owning it you have to be careful. You have to learn how to maintain privacy to avoid punishments. Bitcoin awareness has continued to spread even in the face of government restrictions. Like in my country, the number of Bitcoin users has kept increasing regardless of the restrictions placed on it. The people are embracing the currency because it is a potent hedge against inflation. Quote
As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊
If your interested in DCA I think you should follow up on this thread
https://bitcointalksearch.org/topic/buy-the-dip-and-hodl-5132720
I like the word 'potential' because it is not certain that your investment will grow, sometimes it declines. But history has shown that it is better to keep money in bitcoin than fiat. DCA is the right strategy to accumulate bitcoin but one can adopt the lump sum strategy if the price drops to a significant level and you can afford it. If your interested in DCA I think you should follow up on this thread
https://bitcointalksearch.org/topic/buy-the-dip-and-hodl-5132720
"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.
Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
Just we wait and in the near future we find out cryptocurrency being taxed. Another thing, if we sell our cryptocurrency in profit we are obliged to pay tax for its profit since cryptocurrency is considered as an intangible asset.
Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
Don't misinterpret bitcoin to an asset through wish you can Corrected this one for you
. I believe the right term is evade.Quote
Definitions from Oxford Languages · Learn more
e·vade
/əˈvād/
verb
escape or avoid, especially by cleverness or trickery.
"friends helped him to evade capture for a time"
e·vade
/əˈvād/
verb
escape or avoid, especially by cleverness or trickery.
"friends helped him to evade capture for a time"
Op till now I don't understand your TOPIC and if there is a mistake please revisit your topic and make it more clear for us to understand. Well bitcoin is free from taxation if you are using p2p but when you are using centralized exchange, you pay tax though not all but some. Most local exchanges ask customers to pay transaction fee but I have not seen that in international exchanges like Remitano and Binance but Busa pays transaction fees. Cryptocurrency {bitcoin} makes things easy for the new generational technology age. There is no physical verification and identification. Those countries that have ban cryptocurrency are just wasting themselves, because people are using p2p to bypass the ban. Like my country we are not even feeling the impact of the restriction by banks.
A skeptic will remain as a skeptic for a long time but it doesn't mean that they won't change for the better. That friend of yours could have been skeptic to you even long time ago but soon he'll get to see how successful you are.
But that's not the point of it.
With his curiosity, everything is going to change when that matter ticks on his mind and it's becoming a more interesting question to him why you've been firm and keeps on doing what you've started as a bitcoin investor that does DCA.
You are right about firmness. because doing DCA is not an easy task. It needs consistency, and dedication to accumulate BTC The OP seems to be so optimistic that he thinks accumulating 1 BTC is not impossible, and indeed it is not impossible, and one can really accumulate 1 BTC easily, but the journey is so hard for one to follow.
And it might take some time to get some good results to prove your skeptical friend wrong. But the point should not be that, as you mentioned. The point should be. To accumulate as much BTC as one can. Either by doing DCA, lump sum, or buying at dips. Whatever the method is, after accumulation, they go through the phase of holding it for an extended period of time to make a profit out of it.
Dear OP I hope you will reach the goal of 1 BTC soon and god will help you.
A skeptic will remain as a skeptic for a long time but it doesn't mean that they won't change for the better. That friend of yours could have been skeptic to you even long time ago but soon he'll get to see how successful you are.
But that's not the point of it.
With his curiosity, everything is going to change when that matter ticks on his mind and it's becoming a more interesting question to him why you've been firm and keeps on doing what you've started as a bitcoin investor that does DCA.
But that's not the point of it.
With his curiosity, everything is going to change when that matter ticks on his mind and it's becoming a more interesting question to him why you've been firm and keeps on doing what you've started as a bitcoin investor that does DCA.
If the bitcoin or cryptocurrency need to change the fiat system,it need to wait.Because already the USD was spread all over the world,many of my friends also holding the cryptocurrency for the change.The system need to change for the better change in the currency world.The United States dollar had huge root in the currency world,the most of the countries in the world had their reserve in USD of the currency world.The world economy was depend on the cryptocurrency now on various form,many getting job using the cryptocurrency.
"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.
Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.
I did not quite really understand what do you mean by faits. Are you trying to say, that Cryptocurrency beats fiat at every point? If yes, then you should edit your title, and be careful next time while creating a new topic. You are most welcome to make new topics but please try not to make topics blindly and in a sense of hurry. Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?
I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.
Try to remain calm, make a topic, then read it again. Then post it.
And you should write BTC instead of cryptocurrency. Because in cryptocurrency there are alts involved too but if we only write BTC then the statement becomes more valid. Other than that, I totally agree with all of your facts and I am a promoter of BTC as I also do DCA at the rate that I can.
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