Topic: Promoting bitcoin besides the profit making idea. - page 2. (Read 544 times)

The way I view bitcoin, it is not owned or controlled by any financial institution or government. It works on blockchain technology, which ensures transparency and immutability of data. As well as the fact that the Bitcoin blockchain is considered secure and difficult to hack. Each Bitcoin transaction is confirmed and recorded in a new block on the blockchain, making transactions difficult to change. Things to keep in mind before investing in Bitcoin or any other cryptocurrency, it's very important to understand and understand the risks involved, and only invest the money you can lose.

One good example is Pouch.ph who are promoting Bitcoin for adoption and as a utility rather than for profit. Because of that, they have made Boracay as the Bitcoin island of the Philippines where almost all of the stores, services, transportation, etc., are accepting Bitcoin as mode of payment but in lightning.

On top of that, they have also expanded to other cities and provinces slowly but surely for some coffee shops, bars, restaurants, etc., to accept Bitcoin aside from other mobile banking apps like GCash, Maya, etc.

Well some people doesn't really prefer to store their assets on banks since it's centralized it's just like saving your huge money. But in some other cases, people tend to invest or much better term is to control their funds for them to manipulate it of course by profiting and earning. The point is the system itself is already encouraging for people as they can do whatever they like without hassle with just the use of gadgets. You can enter the market wherever you want even you're at bed, outside or home. The convenience it gives to people is already one of the factor to convince people to Bitcoin, locally or even internationally. In short the decentralized nature of Bitcoin is enough for people to be hook into this industry.

@hugeblack wrote a very good post in which he actually concluded that it is much easier to promote Bitcoin as a decentralized currency in countries where there are serious problems with the financial system, and where the authorities strictly control every aspect of someone's life. If you try to do the same in one of the countries that are economically at a high level and where people live relatively well compared to the countries mentioned, then you will hardly be able to expect that the people who live there will accept Bitcoin as anything other than investment.

Yet it's not an obstacle for anyone to promote Bitcoin as a decentralized cryptocurrency anytime, anywhere - and not just focus on how Bitcoin can be profitable. Unfortunately, most of those who invest in Bitcoin do so solely for profit and have never made even the most ordinary transaction from CEX to non-custodial wallet, let alone that they have paid for some goods or services with Bitcoin.

Why would you want to promote Bitcoin to other people if you don't know what Bitcoin is good for, besides making money? This sounds like you want more people to invest in Bitcoin so that your investment would pump. That sounds a lot like a pyramid scheme.

If a lot of coins are owned by people who only want to make profit, then the market will crash hard at some point when they will start exiting the market.

It is one of the safest ways to transfer funds, though it might not be the fastest in local means of fund transfers, it can beat other services in terms of cheap and speed of transaction in global transfers.  Non-cryptocurrency transfers such as banks need a day to be completed.  Aside from that, Bitcoin also let the unbank to participate in the economic and global financial activity.

It's not a good idea to promote Bitcoin just for the purpose of profit, especially if the person you're speaking with is a professional. In my perspective, newcomers are more likely to take Bitcoin because of the possibility of profit, but it may not work for professionals. We have to put in our mind that the price will increase because of the buyers, and ofcourse most of them buying Bitcoin because of how it benefits them. So, in order to be a successful Bitcoin promote, you must have enough knowledge with Bitcoin and its benefits when you use it in your daily life.

Well, it has to definitely be different approach for different individuals.
An individual for example, who has dreams of being a nomad or Gypsy, may find that crypto currency is the best way to remain funded. Not having to branch into major towns just for bank related issues,  is one way, that will have saved more time trying to convince them to try crypto investment strategy for a change.

I know that, if we point people to see how Bitcoin investment can benefit and support their dreams without much hassles, then we may have already promoted Bitcoin without even mentioning the profit making idea embedded within.

Introducing Bitcoin to new individuals and persuading them to invest is undoubtedly a challenging task. I begin by explaining the potential risks involved, ensuring that they are well-informed about the downsides. Only then do I proceed to discuss the potential gains. By adopting this approach, I aim to provide a comprehensive understanding of the risks associated with Bitcoin. While some individuals I've convinced have chosen to invest, many have decided to stay away. However, it is often those who initially hesitate that end up regretting their decision when they witness a surge in the market. Therefore, it is essential not only to share ideas on profit-making but also to emphasize the potential losses that could occur. This balanced approach ensures that individuals are fully aware of both sides of the coin before making any investment decisions.

Telling people about the profiting aspect isn't all we can do and besides bitcoin isn't created for such purpose rather being created to scale up and to fast track the rate of  which payment are being delivered quickly than our traditional banks. I'v seen a scenario where those that are in Ukraine where not able to perform transaction using their banks and all banks that are located in the affected part of war where short down.

Anyone who holds bitcoin at that point could likely perform transaction and send bitcoin across to the affected ones who needs helps to save their lives, these scenario where the major points of why people should have and or hold bitcoin. I think people are overseeing the important aspect of it and liken it for profits purpose only that is why whenever the dip comes it affects series of people who only channels their thoughts on the profits aspect of it.

Having your money stored in bitcoin reliefs you from stress and unnecessary expenses from bank and people monitoring what amount you are holding and likely to have your wealth being controlled by yourself instead of a third party being involved or knowing how much you owned all can be converted into bitcoin and have peace of mind from bank and could perform transaction at anytime without delay or having to go the bank.

Good point, but that’s becoming a little obsolete nowadays. We’re practically exposed now more than ever so mere anonymity thanks to bitcoin is a little too ideal, I’ve heard news and seen people from across the space get found out and exposed for using bitcoin, even came so far as to cause financial issues for one guy who got found out by her ex wife to be hiding bitcoins from her, long story short the judgment didn’t go for him and he prolly lost a huge chunk of his property in the process.

So perhaps if you’re trying to seel bitcoin and its benefits to other people, let’s put security and anonymity at dead last, we’re slowly transitioning to a world that’s more exposed and bitcoin not dojng anything to improve upon these attributes that once had set it apart just makes things a little sticky for it.

If you want to convince someone who doesn't know about bitcoin - then it's difficult.
You have to go through the basic stages of promoting bitcoin among the initial public - if you say it's money, then obviously people will be confused without further explanation. So far bitcoin has real use cases in some countries, of course but still limited to legality in most others.

So instead of just being a profitable asset - then bitcoin is a currency that is being adopted more and more. Using bitcoin as a means of payment is a way for the community to support bitcoin and its ideas - but you can't just do it reckless especially when you're not in a country where bitcoin is legal as a means of payment.

You could send money to anyone, be it friends or relatives in any part of the world, for a very low fee. You can also pay for goods and services in Bitcoin to any client anywhere in the world. If you are a gambler and don't want to withdraw your funds to your bank account, you can withdraw them to your Bitcoin wallet address. You can freely carry out your transactions through the Bitcoin network without your identity being revealed. You can save up millions of dollars in Bitcoin, and no one will know you have those assets. With Bitcoin, you don't need anyone to secure your assets because everything is under your control.

I believe there are more things to tell someone about Bitcoin apart from the first one you have said. Bitcoin is not just about investing, holding, and earning; there are other more enjoyable things.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

There's no doubt about that, but purely depending on Google might make you end up getting the wrong information about something. The OP is aware of Google, but information gotten from people's direct opinions is more to be trusted than that gotten from written articles by those who gathered both the truth and lies about a particular subject matter just to make ends meet.
If you have less to contribute than just Google recommendations, I guess you could have just let go of the discussion.

Apart from Bitcoin being a digital currency worth investing in for the long run, Bitcoin also has many benefits that can be to told to friends about it's use case, such as that Bitcoin provide users with full ownership and control over their funds. Bitcoin has lower transactions fees compared to traditional means particularly for international transfers, making it the best option for cross-border payments. Bitcoin is very secure because of it's use of cryptographic algorithms making it difficult to tamper with or alter records, and lastly Bitcoin can be globally accessible to anyone with an internet connection & smartphone, irrespective of geographical location.

I understood your concerns here and I do have the idea of this limitation before as many threads are made on this issue before on BTT and I would like to mention the latest thread on which I was active. This will help you to buy the 2kg sugar in BTC if you want but the problem is I know you are from Pakistan and in Pakistan I merely see any shopkeeper accepting BTC as a payment method. But this thread is full of solutions to this limitations, it would be great if you could shed an eye on it.

• Bitcoin high transaction fees is a disadvantage to small business owners

Back in time, i watched some news about a small business owner who was accepting BTC as a payment method but now as Crypto is banned by the government then it would be hard for them to announce that they are accepting BTC.

Taking out profit as way of encouraging someone to use Bitcoin, I think a better alternative for the bank is the best feature you can sell about Bitcoin to your friend since you can send money person to person without the need a middleman (bank) to do the transaction is the most awesome feature of Bitcoin. You can envision a transaction that no one is tracking you for whatever you are buying compared to banks that your transactions is being traced and sometimes your account will be frozen if you purchased items that is not legal to your country while legal to others.

Bitcoin gives you freedom to deal with anyone without any worries that someone will watch every transaction that you made.

A financial instrument that allows you to remain free and self-sufficient anywhere in the world, regardless of the political and economic situation in the region.

A financial instrument that allows you to remain the master of your wealth and material assets.

I think it's kind of like that.

The fact is that there are tons of information flying around in the internet about Bitcoin. A simple search on Google will reveal so much benefits about Bitcoin, besides profit making.

Whether it's rare or not the problem exists, My view is also with the core community Ordinals have no place on the blockchain especially on Bitcoin because it was not the purpose but, Problem is still here because if I don't want to drink mango shake it doesn't mean other also don't want. Miners seem to be more greedy they are preparing well because, in the last congestion, miners got enormous rewards on the transaction fees even more than the block rewards.

1$ 2$ hmm, is a big problem because the transaction for the day-to-day products will be in Satoshis and it can vary from 0.5$ to 100$ of referring the 0.00005 BTC to 0.001 BTC and even to 1 BTC or 100BTC. So a person who is buying the product of 0.0001BTC is not ready to pay the fees varying from 0.0001BTC to 0.0003BTC and even more if the network is busy. For the proper mode of payment there we can't be dependent on that many fees even though we already have alternatives.

If I am getting my monthly salary in the BTC and I am sending the monthly expenditures to my family and for the rest of transactions above 0.002BTC I won't mind paying the fees but for the products like 1KG sugar and all that stuff, I can't afford the fee. In my view, this is the biggest limitation of Bitcoin being the universal currency. (Well this a matter of the future for now things are on Ok Ok level.)