Do we need bitcoin? - page 3. | Bitcointalksearch.org

plvbob0070

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Quote from: minersday on July 30, 2020, 06:37:32 PM

Quote

Do we (the world) need bitcoin?

Bitcoin is not really a necessity like the basic needs but it is a social need that address a particular problem in the world. The world needs Bitcoin to address a specific problem or gap in the financial ecosystem. The financial ecosystem is really tired with the centralized system. People needs the financial freedom to make transactions without difficulties, and bitcoin and cryptocurrency brings that financial freedom.

I would agree with you. Since we are aware and have already recognized the essence of bitcoin, we're starting to need it since it gives us a benefit that we are looking for. But for people who still have not understood or realized what bitcoin or crypto can do, it's not that important.

Generally, we can still live without bitcoin, but living is not just about basic human needs. We are living where we are surrounded by the centralized system and bitcoin is one of the things that give us freedom from it.

GDragon

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Quote from: minersday on July 30, 2020, 06:37:32 PM

Quote

Do we (the world) need bitcoin?

Bitcoin is not really a necessity like the basic needs but it is a social need that address a particular problem in the world. The world needs Bitcoin to address a specific problem or gap in the financial ecosystem. The financial ecosystem is really tired with the centralized system. People needs the financial freedom to make transactions without difficulties, and bitcoin and cryptocurrency brings that financial freedom.

And this also applies with other things in the world too. We can live without btc, but btc is a solution to a certain problem. We can live without gambling too, but it is a form of entertainment for some, and a job for others. We may not pinpoint why we can't live without btc for now, but I'm sure we are all hoping for the time that no one will even think of that question about btc.

lumeire

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Quote from: erikoy on July 30, 2020, 05:53:46 PM

Quote from: lumeire on July 30, 2020, 12:41:44 PM

A lot of governments are opposing bitcoin from very long time, maybe due to the anonymous nature of the network, but now a days a lot of countries are legalising and adapting to the bitcoin demand in their country and legalising it. The opposing governments are actually missing a lot and they are not promoting development into the future by rejecting block-chain, the same happened in India also but the people and the block-chain related companies filed a case in the court which ultimately lead to the removal of ban and now India is also one of those countries where bitcoin is legal. Bitcoin is really necessary in those countries where a lot of censorship is there and people are oppressed.

The government just really want the safety of all the consumers of bitcoin or its community. Simply there are complain among users wherein bitcoin was tag or being used as a medium for scamming. Abuses is rampant and many were falling even the old tricks of scamming. Bitcoin also could not be integrated to government system because it is completely opposite to the government system being the decentralized system.

Bitcoin related scams are just a small part of the scamming industry and still government think that bitcoin is the only thing that the scammers want. A lot of people do carding and stuff but no one is banning the credit cards from being used. As you said that bitcoin can't be controlled by the government and this is the only reason why government isn't accepting bitcoin as an investment or a payment method or legalising it. This is the loss of its citizens only when the government is banning cryptocurrencies as it is creating a lot of jobs around the globe and the future of the financial systems will also be built on blockchain only, so why not legalise it now rather than doing it later.

LimLims

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Quote from: minersday on July 30, 2020, 06:37:32 PM

Quote

Do we (the world) need bitcoin?

Bitcoin is not really a necessity like the basic needs but it is a social need that address a particular problem in the world. The world needs Bitcoin to address a specific problem or gap in the financial ecosystem. The financial ecosystem is really tired with the centralized system. People needs the financial freedom to make transactions without difficulties, and bitcoin and cryptocurrency brings that financial freedom.

I also completely agree with you.
People are always excited in making money through various ways.
Now we are in an era where Bitcoins are not unknown for many people.
Bitcoins are became the primary source of income and investment for many people now a days.
Not only this, Bitcoins are also a major way of payment method in various popular sites.
I guess these reasons are enough for the OP to understand, why we need Bitcoins.

Benefactor

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This is naturally a matter of great joy because those who have invested in Bitcoin always want the price of Bitcoin to rise as much as possible. But now it remains to be seen how long it will last. For those who have invested in Ethereum, this is a time of great joy as Ethereum's price has risen to $300+. Hopefully it will go up sooner rather than later.

Inkdatar

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Quote from: minersday on July 30, 2020, 06:37:32 PM

Quote

Do we (the world) need bitcoin?

Bitcoin is not really a necessity like the basic needs but it is a social need that address a particular problem in the world. The world needs Bitcoin to address a specific problem or gap in the financial ecosystem. The financial ecosystem is really tired with the centralized system. People needs the financial freedom to make transactions without difficulties, and bitcoin and cryptocurrency brings that financial freedom.

Even though bitcoin doesn't need by many and even some countries restraining bitcoin by the government but in terms of financial status somehow it could help mostly the individual. Also other countries adopting bitcoin and it's realizes them how this crypto really works. Indeed not a necessity but the fact is it helping many users in this era times.

Rafiqul

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I personally believe and like Bitcoin; However, in my country, bitcoin is not legalized in the state, we can not use it in real life. We can easily meet the daily demand with bitcoin if it is legalized by the Government.

finaleshot2016

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Quote from: minersday on July 30, 2020, 06:37:32 PM

Quote

Do we (the world) need bitcoin?

Bitcoin is not really a necessity like the basic needs but it is a social need that address a particular problem in the world. The world needs Bitcoin to address a specific problem or gap in the financial ecosystem. The financial ecosystem is really tired with the centralized system. People needs the financial freedom to make transactions without difficulties, and bitcoin and cryptocurrency brings that financial freedom.

Agree. People are looking into something that will defeat the centralized system on money because obviously it's being controlled by those who are in position. In a decentralized system, we are entitled and empowered to do such thing on the system freely and can even make a contribution to it. That's the main reason why we need bitcoin, because of its decentralized feature. And of course, we can easily transact everywhere with the use of internet and that's very interesting for those who are techy.

415jeremy

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Of course, we need Bitcoin. It couldn't become the world currency in 11 years, but the conception of fully decentralized payment system is more appreciated.

minersday

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Quote

Do we (the world) need bitcoin?

Bitcoin is not really a necessity like the basic needs but it is a social need that address a particular problem in the world. The world needs Bitcoin to address a specific problem or gap in the financial ecosystem. The financial ecosystem is really tired with the centralized system. People needs the financial freedom to make transactions without difficulties, and bitcoin and cryptocurrency brings that financial freedom.

erikoy

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Quote from: lumeire on July 30, 2020, 12:41:44 PM

A lot of governments are opposing bitcoin from very long time, maybe due to the anonymous nature of the network, but now a days a lot of countries are legalising and adapting to the bitcoin demand in their country and legalising it. The opposing governments are actually missing a lot and they are not promoting development into the future by rejecting block-chain, the same happened in India also but the people and the block-chain related companies filed a case in the court which ultimately lead to the removal of ban and now India is also one of those countries where bitcoin is legal. Bitcoin is really necessary in those countries where a lot of censorship is there and people are oppressed.

The government just really want the safety of all the consumers of bitcoin or its community. Simply there are complain among users wherein bitcoin was tag or being used as a medium for scamming. Abuses is rampant and many were falling even the old tricks of scamming. Bitcoin also could not be integrated to government system because it is completely opposite to the government system being the decentralized system.

Ayushadex

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Any currency can be used for illegal purposes. This does not mean that bitcoin was created just for this.

lumeire

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Quote from: Rafiqul on July 30, 2020, 12:32:22 PM

I personally believe and like Bitcoin; However, in my country, bitcoin is not legalized in the state, we can not use it in real life. We can easily meet the daily demand with bitcoin if it is legalized by the Government.

A lot of governments are opposing bitcoin from very long time, maybe due to the anonymous nature of the network, but now a days a lot of countries are legalising and adapting to the bitcoin demand in their country and legalising it. The opposing governments are actually missing a lot and they are not promoting development into the future by rejecting block-chain, the same happened in India also but the people and the block-chain related companies filed a case in the court which ultimately lead to the removal of ban and now India is also one of those countries where bitcoin is legal. Bitcoin is really necessary in those countries where a lot of censorship is there and people are oppressed.

christhemaner

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Even if people use bitcoin only for the reasons that you mentioned it already shows that people need this currency. On the other hand I believe that people need an alternative to a centralized currency.

Janation

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Quote from: BuNga_cute on July 25, 2020, 05:56:13 PM

This is a very interesting question in my opinion, because if we need Bitcoin, the people are using Bitcoin should be above 50%.
But the fact that using Bitcoin until now is no more than 2%, in my opinion right now we really don't need it Bitcoin. But I'm sure
in the future we all need Bitcoin, because today most people still choose use cash money compared to digital currencies like Bitcoin.

I don't know the basis of this percentage but I think it is not the use of it but the possible profit of it that we need.

I know that not all of us would be having the same interest of investing in Bitcoin or any other cryptocurrencies but as we see the price increasing, the interest of investors also increases. They might not be needed right now but in the future, it might be. We can't really compare cash to Bitcoin nowadays in terms of need but some people actually get profits from it getting cash from it they can use.

elisabetheva

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Quote from: Traderbtcc on July 29, 2020, 05:45:00 PM

Quote from: BlackHatCoiner on July 20, 2020, 01:22:55 AM

Do we need bitcoin?, Because, I can see that people use it only as an investment or as a money laundering tool

Although alot of people use it for the bad reasons, but the percentage of people using it the right purpose is more,and yes we do need bitcoin, since it has become part of our daily life, I really can't imagine the world without bitcoin now

,bitcoin has made life so easy for most of us, especially for people in the third tier countries where doing any transaction outside the country is pretty hard, it takes some days or maybe a week for one to be able to send money to anyone outside their country, but with bitcoin transactions have been made easy without the middle man (the bank).

the character of each person is always different in exposing the existence of bitcoin, it is understandable that people have the connotation that having bitcoin is only for investment and more extreme as a money laundering tool. we cannot avoid all of these facts, but we must also be realistic in responding to something else from the existence of bitcoin.

many people are helped by the existence of bitcoin that we cannot deny and that is the reality that exists today.
by only working at home especially in a pandemic like this, we can make money to make ends meet. many people have been helped by the existence of this bitcoin, because the benefits obtained are quite tempting and the convenience obtained from bitcoin is also very real.
what is more important is that it is true that the existence of bitcoin makes it easy for people to give things to one another only through the bitcoin network without the relationship of the bank and authorization matters.

tippytoes

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Quote from: BuNga_cute on July 25, 2020, 05:56:13 PM

This is a very interesting question in my opinion, because if we need Bitcoin, the people are using Bitcoin should be above 50%.
But the fact that using Bitcoin until now is no more than 2%, in my opinion right now we really don't need it Bitcoin. But I'm sure
in the future we all need Bitcoin, because today most people still choose use cash money compared to digital currencies like Bitcoin.

It is only a matter of time before a lot of people realized the true benefit of using bitcoin. But we are not obliging to learn the ins and outs of bitcoin as many people don't prefer change. They are more than happy with the traditional means.

KnightElite

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Quote from: Traderbtcc on July 29, 2020, 05:45:00 PM

Quote from: BlackHatCoiner on July 20, 2020, 01:22:55 AM

Do we need bitcoin?, Because, I can see that people use it only as an investment or as a money laundering tool

Although alot of people use it for the bad reasons, but the percentage of people using it the right purpose is more,and yes we do need bitcoin, since it has become part of our daily life, I really can't imagine the world without bitcoin now

,bitcoin has made life so easy for most of us, especially for people in the third tier countries where doing any transaction outside the country is pretty hard, it takes some days or maybe a week for one to be able to send money to anyone outside their country, but with bitcoin transactions have been made easy without the middle man (the bank).

There are people who using bitcoin in illegal ways but it doesn't mean that bitcoin can only be used in bad ways. Nowadays, it is good to see that there are now many bitcoin ATM'S in different countries. Merchants and businesses are now also accepting bitcoin as payment because of its characteristics which is decentralized. Banks before do not give care about bitcoin but now they are considering the blockchain technology as important because they know that it can improve the current payment system that we have.

erikoy

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Quote from: Traderbtcc on July 29, 2020, 05:45:00 PM

Although alot of people use it for the bad reasons, but the percentage of people using it the right purpose is more,and yes we do need bitcoin, since it has become part of our daily life, I really can't imagine the world without bitcoin now

,bitcoin has made life so easy for most of us, especially for people in the third tier countries where doing any transaction outside the country is pretty hard, it takes some days or maybe a week for one to be able to send money to anyone outside their country, but with bitcoin transactions have been made easy without the middle man (the bank).

Yes it may be advantage on p2p from one country to another. This is one of the benefit having the bitcoin. Aside from that as mention about the transaction cost from service fee of the banks and remittances would relatively higher than to using bitcoin. However, there are also problems when it comes to acquiring bitcoin and that is by doing KYC. Most of exchanges are doing KYC on all of their users. And sometimes collect higher fees when converting fiat to bitcoin due to tax implemented by the government from their set rules and regulations for the safety of the users in that exchanges.

fitevokas

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Well defination

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