Topic: Does cryptocurrency actually solve any problems? (Read 782 times)

The main problem which can be solved using cryptocurrencies is the global test of blockchain algorithm, so we can say that BTC and alts are actually enormous testnets. Optimisation solutions can be used later for financial soft and hardware development. Secondly, the total amount is limited, so blockchain systems bring some other experience which can be useful: the money system with no inflation. This is also an important thing.

In our specific case we used Crypto to pass money from the EU to South America.

The Bank costs would amount to €55, while Crypto costs 14. Which is the cost to purchase those coins.
It takes 2 days to receive coins. due to the bank transfer.

The coins (LTC) took 2 minutes. 
Over here we have people changing LTC into the local currency.

Fluctuation does not always work in favor.

You've got it, pal. I mean, Im not even up to date on the paperwork at my bank. They have been constantly feeding us propaganda about how "necessary" they are. Then crypto came along and wrecked the whole system. Banks, behold as I create my own currency system! So, who's in charge now?

Bitcoin, the king of cryptocurrencies, doesnt believe in that sort of permission-based hogwash. Not me, honey; its all you! Since it is your own money, you should manage it. You're also correct that the established order needs updating. They hold far too much sway at the moment. Constantly creating new currency as if it were a game. What gives them the right to rule the financial world? Bitcoin eliminates the possibility of having your funds mismanaged in any way. You have the upper hand!

To be frank, investing in bitcoin is very risky, nothing is easy. It is true that bitcoin is a potential investment, but if there is an exact number between winners and losers, I am fairly confident that losers are in the majority. But just because of daydreaming, we only look at the winners and forget that the losers are much more than that.

Making money is never easy even investing in bitcoin. The higher the return, the higher the risk, but not many people think about this, most just paint rosy dreams in their heads.

In an instant, what crosses my mind is transparency. Bitcoin and its ledger have remarkably fostered a greater level of financial transparency in the world. Even now, there are still many honest individuals who aspire to ensure that the allocation of funds within companies or governments becomes even more transparent. This endeavor propels a healthier work environment and a more forthright government in the handling of organizational expenditures.

This decentralization concept inspires me to uphold honesty in financial management, particularly within the finance division, which plays a crucial role within an organization.

Cryptocurrency as an alternative currency in the global financial system that allows for none third-party participation has solved the problem of trance borders money transfers, take for example it only takes you just a mobile phone or a computer to send and receive money globally and this has been a great issue in the past were international money transfers have been hard in the past and even at present time, sending money through the bank to international destination take time and process.
But with a cryptocurrency like Bitcoin, it will only take you a few seconds to get the same value transferred to a Bitcoin wallet which is a big deal in the present time.

There are a lot of articles about this already, but I really think this one from 2017 is the most relevant. Besides that if you ask me what real problem in my life that's actually solved by Bitcoin (and Crypto) is the way I accept payment from my client. I am a freelance worker and I work with international client, I used to use PayPal, and other similar things that needs few working days to finally arrive in my local bank account, and the fee is quite a lot. With Bitcoin I can receive my payment in less than an hour with much less fee.

That would be depend on the cryptocurrency you buy. Because if you choose the wrong one it wouldn't give help to you obviously. But literally speaking, cryptocurrwncy can really give help to everyone as long as they know how to choose rightly.

Because for I did now here in this industry is that I applied dca, in which is equivalent of saving money in the future, where the only difference is as time goes by the value could possibly increase in the future.

Bitcoin and other cryptocurrencies solve the problem of value transfer without the use of a third party (such as a bank). It is secure and respectable, and it is not governed by a single entity. It is also resistant to censorship. Nobody, not even organizations, can prevent you from sending cryptocurrency from one wallet to another. And he offers the opportunity to improve financial stability, reduce transaction costs, and increase transaction speed. Don't combine BTC with other crypto currencies because it's the best crypto and you will not have to be concerned about losing money as you would with other Coins. Simply invest in Bitcoin and leave it alone for the long term to reap the benefits, but you must be patient.

I'm not sure if you know what is savings meant for - it is for the future. Of course, you can't think it gives you a profit but it was intended for the future when you can't work anymore.
Yes, saving is not an easy task for someone who doesn't have the motivation and purpose of saving. But for those who have, nothing is impossible to them because what is in their mind and their priority when they have money is to save and spend less. There is no need to learn how to save but what we have to learn is to become persistent on our goal and know how to spend our money wisely because if we can't, saving is somehow difficult and impossible.

that is clearly a wrong understanding. those who view Bitcoin as an investment asset have benefited so far. although there are also those who try to follow the investment and then fail. those who view Bitcoin as a payment alternative also benefit. when in the business they are developing, with the use of Bitcoin it is possible to expand the reach of their business development.

but around me, more people think that Bitcoin is an investment asset. so those who know and own Bitcoin are people who earn and do have long term planning. not unemployed trying to get rich from Bitcoin in an effort to reduce poverty.

        Do you think that the process of saving money for future investments comes immediately? No, it's not. Only over the years does the relevant experience and knowledge in this matter appear. In addition, there are not many people who, even after many years, come to such an awareness. Everything is quite individual.
         It took me personally more than one year to learn at least something in this matter, but there are still some questions and difficulties.

its decentralized and better option to move money anywhere in the world while old method is not easy compared to btc system

There is no reason to use AI shit to write why and how cryptocurrency (More precisely, Bitcoin) solved some problems. If you continue using AI to write these shits, you will unlikely survive in this forum. You better not use this AI shit and write on your own. I have seen your post history and noticed you are one of my countrymen. You guys are the reason why we people always get attacks from global members.

Delete your AI shit, and never write with AI. If you can write on your own, then come to global threads and write. But, if you cannot, stick to the bounty board where you feel good about participating. There is saying in Bengali ”দুষ্ট গরুর চাইতে শূন্য গোয়াল ভালো”

It does solve a lot of problem. Not all crypto currencies, but some do. Traditional fiat system is centralized and normal people has no say on how things will be controlled. Only few people in power can decided whatever they want and basically they alone "owns" everyone's money. They can print money anytime they wish, they can deny access to your funds if they want and they can seize all your money without your permission. Decentralized currency like Bitcoin solves this centralization issue. And lets not forget that not everyone are able to have or access the banking system. Crypto currencies let anyone from anywhere be their own bank where they themselves have full access and rights to their own coins.

There is difference of understanding about bitcoin between people. Some consider it the alternate to the traditional payment whereas there are people who consider it as investment and for other needs. So, it could solve different problems based on the way people use it. However this doesn't serve major problems of economy or social development such as the unemployment, poverty and other factors. There is some kind of misunderstanding among people that usage of bitcoin or increasing adoption could eradicate poverty and increase the employment opportunity.

Well, you are right though, saving money in cryptocurrencies is more achievable than saving money in fiat, most especially, for those who are not rich just yet and also have a lot of things to spend money on, for such type of people, saving money in fiat is very difficult because it is a generally accepted currency already, spending it is very easy compared to cryptocurrency, you can walk into any store, and even with out cash, but with your card, you will easily spend your fiat money.

But for cryptocurrencies, depending on where you are holding it, you will have to first of all withdraw it to an exchange, and it must be one that offers p2p, or one where you can withdraw to your bank account directly from the exchange after converting the crypto to fiat money, this is a process some people do consider time consuming, so instead of going through this, they will rather just spend what they have in their bank account.

So yeah, for some or most people, saving money in crypto do help them save effectively, much more than saving money in fiat.

What by mean of other cryptocurrencies? (Btw I have no problem meant by traditional financial systems, but only the other cryptocurrencies)...
Do you mean what is the value of Bitcoin compared to other cryptocurrencies?
Well, if this is about how Bitcoin or other cryptocurrencies have solved the problems, so far, simply, it is about helping to decrease the financial problems. Do you know how many people are getting a much better life after entering the Crypto market and doing certain activities related to crypto?

One of them is me, Bitcoin and other valuable cryptocurrencies really help me to solve my problems, including my financial problems, I have no job out there at that time and I need money to feed myself and also fulfill my family's necessities. And crypto helps me, from this crypto business, I can get earn to make myself much better and also have some savings and investments. This is only one of the examples and I am sure that there are still many other examples like me, who have a better life because of Bitcoin and other cryptocurrencies. Traditional finance really cannot do this to me as long as my life at that time.

And of course, the is also a new mindset about the financial system about digital currencies, and also about the ways of a business era in this global and digital era. That getting here and in the future, we must have a new mindset in accordance with the development of the times, so that we can adapt ourselves to the technology in the future. What's more, crypto is also expected to facilitate transactions globally more quickly and privately.

If everything was as easy as you say, I'm sure everyone would be doing what they said right now. Some things are not what they seem from the outside. When you get a job, you come across thousands of alternatives and problems. You came up with such an idea thinking that the best possibilities will always come true. But not many people in this world can achieve such a thing.

Bitcoin is an opportunity for many. But it also has risks. Not every investor can achieve the desired result. Many things are required for this. Many of us are here to learn these things and add more to our knowledge.

If you are still having trouble saving money, maybe you need to learn some tips that can help you to save some money regularly in your own life. Because in the past I have also experienced difficulties in storing cash or fiat money, but I have no difficulty storing cryptocurrency assets in my personal wallet.

This is because I am more willing to spend fiat money than sacrificing my cryptocurrency assets so that it is easier for me to save cryptocurrency than fiat in the past. But for now I have also learned to be frugal in using fiat money so that I can be more accustomed to saving fiat money along with cryptocurrencies.