Topic: I would like to discuss the usefulness of BTC. (Read 110 times)

Even without reading everyone's reply to your thread, I believe some users must have pointed the necessary things to correct some of the misconceptions that you've had. But, how does Bitcoin really concerns your 5million yen debt?, Not so sure now. I don't really know how powerful the yen currency is, but I believe 5million worth of any currency is quite a massive amount even if the money doesn't have much value. You might just need to find ways to pay your debt first (assuming your story is true), then you can come back to ask all questions relating to Bitcoin, because I don't think those who lent you money will appreciate your zero efforts in trying not to return their money as soon as possible.

Do you believe in all the stories he said? Hmm, you are being deceived. I believe this dude is lying that he had spent such an amount on gambling. Every time I get to see new users with funny nicknames claiming they have lost huge amounts of money in gambling I know they are lying. OP should go and get a job and stop creating threads that consist with false stories so we can fall pity for him.

lol

Bitcoin is Bitcoin, and 1 bitcoin BTC is always 1 bitcoin BTC. It does not depend on US dollar and other fiat currencies.
Bitcoin does not need to replace any traditional (fiat) currencies, it's your obsessive wrong thinking.

Fiat currencies like the US. dollar has its purchasing power over time like this report.
Purchasing power of the US. dollar over time. It is decreasing purchasing power over time.

If you still have concern about dependence of Bitcoin on the US dollar and other fiat currencies, see this
https://charts.bitbo.io/satoshi-per-dollar/

With 1 US dollar, over time, you can buy less and less satoshis.

Bitcoin does not need to become an international currency to be used by millions of people globally.

Governments don't like anything that challenges their control and power, and they try to shut these challenging things down like Bitcoin. It's not only or mainly because criminals used Bitcoin for their criminal activities or money laundering. They used fiat currencies for same criminal activities, and governments globally did not shut down their fiat currencies.

Seems like that would be a good end for this topic.
So many questions, and so many answers  And that nickname is golden.

5 million yen is approximately $32k or above and you are already indebted to that amount at such a tender age? this obviously makes your gambling lifestyle seriously questionable and practically, you are either addicted or have been addicted to have gotten yourself in this sort of mess. getting into debt at a young age is something you should never allow happen and that you are already in it makes it a bigger problem you should be facing than trying to analyze the fate of bitcoin.
traditionally, bitcoin was never designed as a replacement to the fiat and even if all nations adopt bitcoin, none will take bitcoin as a replacement to the local currency, it is rather going to serve an alternative function of storing value and mostly come into use in times when there is a need to carry out international transaction. even till present, all the countries that have adopted it make use of it more like an addition to her local currency and so only make use of it in some sector where it application is of essence.
obviously, regardless how we want to assume that it is possible that BTC will become a global currency, there will be countries that will never accept it and no matter how good it is, certain political differences will always come into play that will birth propaganda and try to bring up the negative application of bitcoin. this is not just peculiar to bitcoin but is still what is playing out in the whole tiktok ban and the politics that plays around when a thing is associated with a particular country. it might not be a currency that the whole globe will sit on a round table to adopt as her currency but when it usage becomes what even 40% of the world accepts, then it wont be out of place to look at it as a global currency.
the world is changing too rapidly and whether we are considering the usage of bitcoin for regular transaction or it usage as an asset, if it gets to a point where it becomes a necessity, people will adapt to being comfortable in using it. in some countries where transaction was done primarily with the use of fiat, during the COVID, mobile banking became useful due to the scarcity of fiat as a result of the closure of banks. the old that where never familiar with the digital system of finance had no option than adapting to the current reality. age is never a barrier when it comes to accepting a digital technology as bitcoin.
BTC is not Ponzi and surely not of the same class as meme coin. meme coin will come and go and another will still come and go but bitcoin has not changed but has become better by the year. that bitcoin is still a growing asset even after it has gone above $105k shows that the issue of loss that is associated with bitcoin is more linked to traders and not investors, BTC is volatile and so losses are never enough justification to equate it to a meme coin.

1.Good luck with getting rid of your gambling debt(I don't know why do you have to mention this in the Bitcoin Discussion forum).

2.The BTC price is measured in dollars, that doesn't mean that BTC is dependent of the USD directly. The BTC price is kinda dependent on what Trump says and promises.

3.North Korea shouldn't be used as an example for anything.

4.BTC is a global currency. The fact that some people around the world don't have computers and internet doesn't matter.

5.Nobody is forcing the people to use Coinbase and Binance. Installing and using a cold wallet isn't that difficult, even for non-tech savvy people.

The global financial markets are a zero sum game, not a ponzi scheme.

Bitcoin is not dependent on the dollar, Bitcoin serves as an alternative store of value similar to gold. It can be traded against other cryptocurrencies or local fiat currencies without necessarily involving the dollar, so Bitcoin is never dependent on the dollar and you need to remember that Bitcoin operates on a decentralized blockchain network, meaning no government controls its value or supply.


Bitcoin is already seen as an international currency, and every nation will also want to prevent it from being used for illegal activities just same way they prevent there fiat from being used for illegal activities, so this those not stop Bitcoin from being an international currency and also every nation have there own policy when it comes to the use of Bitcoin.


Yes it is true that Bitcoin is treated as an investment and that's because of it's potential, there are some supermarket and stores that accept Bitcoin as a means of payment and people use it for daily transaction, Bitcoin is the most popular digital currency in the world and a lot of people that are holding it believe in it.


Bitcoin is available to everyone, I was never a tech person but when I wanted to invest in Bitcoin I took out time to do so research and I used YouTube to learn a lot of things.


The thing is that a lot of people make transfer when they buy something and wants to pay meaning that money is already electronic, you can used Bitcoin to purchase things in a supermarket and pay with your Bitcoin this have started happening in some countries and will spread to others in the future.


Bitcoin is not a Ponzi scheme and that why if you are investing in Bitcoin you most be consistent and patient, in Ponzi scheme they tell you to invest today and get two times your investment in 2 to 3 weeks times, in Bitcoin investment you must be patient because it grows with time, Bitcoin is never a Ponzi scheme.

Why will you compare Bitcoin to meme that are mostly scam, Bitcoin has proven that it can be reliable, you need to go through the history of Bitcoin growth, meme coins are centralized coin and don't have a fixed number like Bitcoin that means it can be manipulated by the government or there creators but Bitcoin can't because is a decentralized coin that also has a fixed number.

What you can't do is to have chosen that nickname and expect us to take you seriously. And even more so when you start by saying what gambling debts you have. All the errors in your argumentation have already been explained in detail, now I'm going to add another one that is not of the argumentation itself: this thread belongs to Beginners and Help, I'm going to report it to be moved there.

You should focus on this problem first. Bitcoin is not going to help you change your willingness to risk so much of what you don't have.

Please, seek help coping. Such help exists and can be a lifeline to those that have found that gambling has led them to anxiety and depression.

As great as I think Bitcoin is, and as much as a well thought out financial plan can include bitcoin, it's going to be difficult to make logical and well-reasoned decisions while you're feeling like you're at your breaking point.  Deal with that first, or you're likely to just end up worse off.

It is not. BTC is an international currency. It's value is not dependent on any one currency or asset. Like ANYTHING of value, that value can be represented in dollars, euros, yen, or any other currency.

Many people treat it as such. In the same way that you can "invest" in foreign currencies or commodities like gold. However, it also does a great job of acting as a currency as well.

Of course it can, and does. I pay my monthly Dish satellite TV bill with Bitcoin every month. I hired an electrician to do some work at my home and paid him with Bitcoin. I've also purchased pizza from local pizza restaurants with bitcoin in the past. It operates perfectly well independent of "traditional currencies" as long as both parties to the transaction are willing to exchange it.

Bitcoin is not in any way "tied to the dollar-based system or government money".

A more realistic question is whether BTC will reach ubiquitous use as an international currency. To be successful as a currency, it only needs to be more useful than other currencies in niche applications. It doesn't need to completely replace all other currencies and it doesn't need to be accepted by the vast majority of merchants and service providers.

Governments target many things. It rarely (if ever) prevents citizens from owning those things or engaging in those activities.

"Illegal activities" is an excuse, not a reason. U.S. dollars are used in FAR more "illegal activites" than Bitcoin, and it's FAR easier to track and trace bitcoin transactions than physical U.S. dollar transactions.

It's already used throughout the globe as a currency. In my opinion, that use has a lot of room for growth, and there is very little reason to believe that use will shrink in the foreseeable future.

Is that the third time you've made that same point?  It already is a currency used throughout the globe.

The disparity in technology, education, and resources throughout the world will ALWAYS mean that people will not have equal life experiences. Bitcoin is not going to solve that. That's just the nature of humanity and society.

You keep saying that. Repeating it doesn't make it less false.

It's MUCH easier to use today than it was just a few years ago. I'm confident it will continue to be easier to use in the future. I'm positive it won't become more difficult (technologically) to use in the future.

I know of individuals over the age of 70 (and even over the age of 90) who have found it quite accessible.

One of the many great things about Bitcoin is that it can operate in a centralized fashion for those who would prefer it without removing the ability to operate in a decentralized fashion for those who prefer that. It can absolutely become more user-friendly without becoming more centralized, but centralized services can also be created for those that want them.

It's been around for over 15 years and has grown in value to the equivalent of over $100,000. It seems humanity is managing just fine.

Physical currency is a great way to guarantee that you lose purchasing power over time. It is also much more difficult and expensive to secure and transport.

That is in no way a certainty. There are several ways to get to a point where that does not need to happen.

Why? Because physical cash is difficult to secure and transport?  Because government-issued money is intentionally designed to lose purchasing power over time?

They are not.  They are gambling tokens, scams, cash grabs, and complete nonsense.

There are MANY, many things in life where some people come out ahead of others. That's just the nature of value itself. It has nothing to do with how good or bad a thing is.

While some meme coins are demonstrably Ponzi Schemes, Bitcoin clearly is not. If you believe it is then you either don't understand Bitcoin, or you don't understand what a Ponzi Scheme is.

Bitcoin is not dependent on the dollar. It is used in countries that don't use the dollar. It is not tied to the dollar. Only someone in the U.S. would have that opinion because they are unaware of its global reach.


There is no reason it cannot already be considered an international currency because Bitcoin is independent of borders and government jurisdiction.



Bitcoin can be used by anyone with a cell phone. One reason people invest in Bitcoin is because they believe it will eventually be used as a currency.


Decentralization, security, and privacy are not binary values. They are ranges. Bitcoin is at least an improvement in all cases. Requiring it to be a perfect solution is an absurd standard.


Money is already mostly electronic. Bitcoin doesn't need to be cashed out when you can use it to pay for things. That may not be the case now, but it could be in the future.


Bitcoin is not a meme coin scam. Bitcoin cannot be a Ponzi scheme. Investors win and lose every day in all kinds of investments.

I’m 18 years old and I’ve accumulated 5 million yen in debt from online gambling. Honestly, I feel like I'm at my breaking point. Lately, I've been thinking a lot about cryptocurrency, especially Bitcoin (BTC), and I have some serious doubts about it.

First of all, BTC’s value is still dependent on the dollar, which makes it more of an investment rather than a real currency. It can’t function independently or replace traditional currencies as it’s still tied to the dollar-based system and government-backed money.

Another concern is whether BTC can truly become an international currency. If you look at countries like North Korea, it’s clear that BTC could be targeted by governments, especially if it's used for illegal activities. Its global use as a currency seems highly questionable.

Even if BTC were to become a global currency, the disparity in IT development around the world would mean that not everyone could use it equally. So, while BTC’s value may rise, it's still primarily treated as an investment rather than something you can use for daily transactions.

Ideally, blockchain tech could be used to make BTC payments easier, but will it ever be accessible to older or less tech-savvy people? Probably not. Creating applications to make BTC more user-friendly would only lead to centralization, forcing people to rely on platforms like Binance or Coinbase. This would undermine the transparency that blockchain offers.

Ultimately, I don’t think humanity is mature enough to use BTC practically. Physical currency seems like the most stable option for now. Even if BTC’s value rises, it will eventually need to be cashed out, and that’s when people are bound to lose money.

Meme coins are similar. In the end, some people profit while others lose, making it no different from a Ponzi scheme.