Topic: Do we need bitcoin? - page 6. (Read 1417 times)

And that's the reason why BTC adoption wouldn't really replace Fiat in it's place. Bitcoin is more of a specialized currency that can be used on and off depending on what the situation needs. Yes, the anonymity it provides may prove to be used for illegal purposes, but hell, let's stop generalizing things. Anonymity doesn't mean that it's illegal or anything, hiding your identity doesn't mean that you're doing something wrong or anything. Anonymity is just that, anonymity, no need to paint it black or white.

Well, Simplest answer would be Central Authorities are also humans. We put them into high pedestals thiinking they are all oh mighty honest people, but really let's be honest, humans aren't perfect, we're greedy, and I expect them to take advantage of their position for their benefits, which includes mine, so I really think I have the right to avoid them when I want to.

But unfortunately, not many local stores or online stores accept bitcoin as the payment, and they still prefer to use fiat, which converts into debit or credit card. Sooner or later, people will see bitcoin's ability, and they will use bitcoin as we did. But to be used as the payment transaction, bitcoin needs to be legalized by the government, so people will not be afraid to use bitcoin.

Yes, we really need bitcoin. It has so many advantages that it would be unwise not to use it. I agree that the anonymity of bitcoin was exaggerated, but it has something that society is striving for in one way or another - bitcoin does not have a single issuer and regulator, so there is no political influence and the impact of inflation. No one can single-handedly decide what will happen to bitcoin and impose their will on the rest, it is safe yet no one has hacked it - there are still many advantages - isn't this what humanity wants?

You are right, there is a low number of people making transactions for that amount, but the same applies to low amounts too. Try to send $10,000 to Japan from UK by bank transfer and see how high those fees are.

Bitcoin isn't a need now, but is a nice tool to avoid bank fees or govs taxes.

The community has different perception on bitcoin. Other may percieve it as digital currency while others it is a form of investment and sometimes both. Well yes, bitcoin could be use to buy for commodities in other areas but for me it is hard to use btc as medium of exchange like buying goods, products or services. This because of bitcoin market price volatility. Most of the business owners had set their price rate and fix profit to which enables them to earn gambling it using bitcoin may loss them in their profits.

Yes of course,especially during this pandemic bitcoin helps us a lot by transacting through online that we no longer need to leave the house, and nowadays it is safer to use digital currency compared to fiat. Not everyone believes in the ability of bitcoin but i'm sure that due to it's continued development over the time more people will likely to use it.

the only problem is not all in each country accepts Bitcoin or other altcoins and in this matter the use of crypto is very limited.
about the ability of bitcoin?it may grow if we will help the community spread the benefits of bitcoin.
and also people tend to trade now using bitcoin,since many people lost their jobs and looking for another way to profit.

I find it somehow one-sided to the disadvantage people could do with bitcoin. In fact, it isn't stated in the white paper of bitcoin that people should use it to scam or commit fraud. But what people are doing is that they aren't exercising the freedom that bitcoin gave to what it should be used to. The complete anonymity with bitcoin isn't made for transaction that is illegal, it is for secured and absolute privacy that one can achieve, if they don't want their transactions to be seen by public. Maybe we could highlight foreign transactions that made easy by bitcoin in which transaction fee is relatively low. Not just that, Bitcoin opened up too many opportunities, new jobs, ease of providing services, and more.

It is great that you have that point of view but not all of us are like that.

There are those that look at Bitcoin as a specuoative asset, something that would give them profit ina period of time. They will not be using Bitcoin since they are thinking the profit in the near future. We need it for the purpose of having a profit. Either way, people usually use digital wallets or mobile payments rather than Bitcoin.

IMO, this doesn't need to be asked.

Especially these days when we are in a pandemic, what people need is to sustain themselves and find a way to earn money without risking their lives outside. We don't even need to relate anonimity with this since there are people that are not interested with it. Most of the people I asked said that it is because related or connected to scam.

Not all really need Bitcoin TBH. Some are enough already with using Cash/Fiat right now and some don't have the time really to know what is crypto or Bitcoin in specific.

I don't think that generalizing is good saying that the world doesn't need it because still there are some people who needs Bitcoin in any ways. Yes Bitcoin has been used to hide something like in dark net and there we can see that some really need it to hide themselves.

Right now maybe there are only few who are using the real function of it but give it some time . More and more will use it

Most people don't need Bitcoin, at least for now, but some do. You mentioned darknet markets, which isn't always a bad thing, but Bitcoin also created opportunities for donations for those who get censored by mainstream payment methods, Bitcoin allows individuals from sanctioned countries to have at least some financial connection with the rest of the world.


99.999% of the population will never make a million dollar transaction in their lives.

Everything needs a proccess. Let say many people now ignore bitcoin or the utilization of bitcoin including investing it or even they are refuse to using it. But I do believe even I higly believe that in the future will use bitcoin, I don't care they use bitcoin as illegal purpose or not but at least they need bitcoin.

Because bitcoin concept is really reasonable for human being. They refuse to using now because they haven't know bitcoin at all, may what has op said most of them only use bitcoin when they do an illegal purpose. It is just a matter of time, like me maybe who was just ignoring bitcoin many time but finally I use it and even I love this technology.

Me, too. I like and need it, it has a big role in my life nowadays.
Regarding its use for the world, I think it is really needed by the world even if not all people can use it and want to have it today. We don't look at the current adoption or use right now, we should also think for the future. I am pretty sure that in the future, Bitcoin will be more needed and probably utilized by most people in the world. In addition, Bitcoin is created for a digital or electronic money, and it fits for modern life. With the adoption that is getting more massive, it may be fully adopted as a global currency in the future. IMHO 

I see bitcoin mostly as currency and not investment, it is important for me because I keep using it in my daily lives especially right now where there is a pandemic and using digital currencies are more better than using fiat money. We need bitcoin for us to have better payment system, its characteristics are very unique where it is decentralized and there is no central authority of government that can control it.

Yes and no, We do need bitcoin to path the future for currencies but not sure if Grandpa bitcoin is the way .

Of course we need Bitcoin, so Satoshi Nakamoto created Bitcoin for all of us. Because they want a change in the sector finance,
which has always been controlled by the government and banks. We with fiat currency cannot get the freedom to control our own
finances. But Bitcoin provides something that is not owned by Fiat, therefore the popularity of Bitcoin continues to increase. To support
Bitcoin try to make it a habit to make payments with Bitcoin, because now there are many merchants that accept payments with Bitcoin,
the more people use Bitcoin, i'm sure the government will legalize it.

This shows you don't know many Bitcoiners and don't know much about its acceptance. You can really buy a lot of stuff with it. Browse a little and you'll find uses for it.


Spoken like a true authoritarian. Napoleon would be proud of you.

Bitcoin wasn't created majorly to hide transactions, been free from monitoring from central authority and a third party involvement is different from hiding a transaction. Even the central authority are not to be trusted, there are people ruling those and as well have been noticed with many fraudulent acts. In as much as there are honest people who don't need hide no thing, there are those who would take advantage of your honesty. so not involving anyone for payments you make is no worst thing.

Here's the thing, bitcoin is not actually anonymous for people to actually hide themselves from the world. Remember how Silk Road was taken down despite their usage of Bitcoin? They are reborn? Silk Road 2.0 and 3.0 was taken down too.

There are more anonymous crypto currencies than bitcoin so I don't think we should always talk about people wanting to use it to cover their tracks, still, do we need it? The question here should be do we want it? Not all of the countries adopted this crypto and despite you having a lot of it, you can't still use it. Anonimity? Volatility? Illegal? Do you still want it? It depends, since as you said, they look at it as an investment.

In terms of Money Laundering, this article described it as "sparse". Which we can conclude people treat Bitcoin more of an investment rather than a money laundering tool.



I respect your opinion but doesn't mean people using decentralized currencies means they want to hide something, can't I just have a crypto for investing? It is not always the anonimity that we take account into, it is the profit. Just look how it move in the pandemic, with the right decisions we could earn a lot by taking that dump as an advantage.

Another thing is that not all of the people even want it. In our country not even quarter of our population are using bitcoin. The government have their hands full with more important problems than thinking how they would tax bitcoin since if they wanted to they can just take it all off on exchanges, but they didn't.

Government wanted censorship, that is why there would come a time where people might use crypto currencies not just for anonimity, but for their freedom.