Take bitcoin as the virtual currency, that perform better than physical currency - page 2.

GreatArkansas

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Quote from: Odusko on October 10, 2022, 10:19:17 AM

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Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

This is one of many reasons or benefits of using Bitcoin. Bitcoin was created initially for payments. Another example I can give is money remittance, especially cross-country money remittance. There are some countries where you wire or send money to someone like your family to other countries, it will take some time and some huge transaction fees, so if we will just use Bitcoin, it is very convienient.

Smartvirus

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Quote from: Odusko on October 10, 2022, 10:19:17 AM

Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies.
Why I create this thread is to define the role of decentralized digital currency like Bitcoin as an alternative currency in the economy, and to dispute the claim by some Bitcoin haters that discard Bitcoin as a none physical represented currency and only exists on the Internet.

It's not about haters to define the digital nature of bitcoin and ain't no way that is connected to decentralisation or not having a physical representation. Of course bitcoin has no physical representation, being a digital currency but that haven't stopped it from playing its role I'm the economy.
One thing you got right is the fact that, bitcoin is an alternative currency. As an alternative currency, it should be used when the needs arises and I think that's what bitcoin holders and holders are doing. The lack of used cases as per merchants that accepts bitcoin is what have made it less rampant but the currency keeps striving to be known and continues to solve problems in our today society.

Welsh

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To be fair, comparing a currency which has recently launched i.e a bit over a decade, and a currency which has been around for a very long time isn't exactly fair. It would be best to wait a while, and compare it once everything has settled down. Usually, prospective investments whether that be stocks or Bitcoin tend to have massive inclines, and declines at the beginning, as people are still feeling them out.

Obviously, Bitcoin is designed this way too, and while the idea is it should be deflationary over time, and therefore already suggesting it will perform better than any other currency which is inflationary, that does remain to be seen, and confirmed. There's a lot that can happen between now, and then so I'm not counting my chickens yet.

hatshepsut93

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Performs better than fiat currency in terms of price, but not in terms of adoption, price stability, utility. This make Bitcoin closer to assets like gold than a currency for regular use.

Quote from: Odusko on October 10, 2022, 10:19:17 AM

Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

It may be nice to have you currency also act as an investment, but the best way to store your wealth is in a diversified portoflio of different asset types - stocks, bonds, gold, bitcoin, real estate, foreign currency and so on. It's not a great idea to have a million dollars in your bank account and just watch it getting eaten by inflation, but it's also not a smart move to put it all in Bitcoin and risk losing a big portion of it. Don't put all your eggs into one basket.

milewilda

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Quote from: sunsilk on October 10, 2022, 04:33:07 PM

It's true that bitcoin has performed well and better than the other currencies that we've got. I guess that soon we'll be done with the comparison of bitcoin and fiat because there will be the CBDCs and there's also the stable coins that serves the same thing as the native currencies that we have.

As the time passes, bitcoin has been considered to be the best asset that one can own and as a store of value.

Needless to say, when someone understands bitcoin, he's in the know about that it can be used as a currency or as a store of value / investment / asset.

We might really be that too positive or optimistic on what Bitcoin had given out or when it comes to utility but we cant really that ignore the fact that fiat does still have some upperhand when it comes to various conditions or situations which Bitcoin couldnt able to do so but at least we do really have that option in choosing between.You could really able to see its significance when you do have the experience on both
using fiat or Bitcoin.You would eventually find for yourself on hows it would be that sensible or recommended on such transactions.Some do really mind off about anonymity and decentralized aspect
but there are some who do still get convenient when it comes to fiat function.So it does matter on when you would really be making some switch up.

sunsilk

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It's true that bitcoin has performed well and better than the other currencies that we've got. I guess that soon we'll be done with the comparison of bitcoin and fiat because there will be the CBDCs and there's also the stable coins that serves the same thing as the native currencies that we have.

As the time passes, bitcoin has been considered to be the best asset that one can own and as a store of value.

Needless to say, when someone understands bitcoin, he's in the know about that it can be used as a currency or as a store of value / investment / asset.

Dunamisx

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Quote from: Odusko on October 10, 2022, 10:19:17 AM

Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies

Let consider bitcoin impact within it first thirteen years to other currencies, take a look at it market capitalization as well, i got an article some times back that also talks about the most googled word on the internet is bitcoin and in no doubt it has been the only branded name across the universe that everyone soughted after, why is because it offers something new than we've been experiencing right from time with the management and handling of finances from being centralized

Piesel

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What I love most about Bitcoin is that Bitcoin is the best alternative to centralized currency and the government financial system, and also Bitcoin can be held as an asset. So even though Bitcoin does not have a physical value its digital value is still a.high against other assets in the exchange market.

That is why, Bitcoin is referred to as digital gold since Bitcoin have increased in market capitalization in recent time, and also the rate of Bitcoin adoption is also on the increase, bitcoin serves as the best alternative in both currency and assets.

Eternad

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The problem is Bitcoin price keeps growing overtime due to its deflationary supply feature. Bitcoin can be categorized in different type based on user perspective. It's very hard to use a currency that has an unstable value to replacedthe current currency we are using right now. For me Bitcoin is best to categorized as an asset and not pure currency since its value is increasing like Gold over time but Bitcoin has an advantage since its supply is limited while Gold, Fiat and other precious metal has an unlimited supply.

romero121

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There is no doubt, bitcoin have performed well against other physical currencies. At the beginning people feared and have a different opinion over bitcoin as an asset developed for the purpose of gambling and illegal transactions. With time people started to accept the true value as the price of bitcoin started to grow.

Inflation is experienced all around, and people are moving much towards cryptocurrency. Some banks out of bankruptcy doesn't allow people to withdraw their own money in the bank. Bitcoin have served as people's own bank securing our holdings.

Odusko

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Since 2009 when Bitcoin was launched by satoshi, Bitcoin has performed better than most physical currencies.
Why I create this thread is to define the role of decentralized digital currency like Bitcoin as an alternative currency in the economy, and to dispute the claim by some Bitcoin haters that discard Bitcoin as a none physical represented currency and only exists on the Internet.
But Bitcoin has out performed most physical currencies such as the dollars and the rest of other centralized currencies. Due to the decentralized nature of Bitcoin it allow bitcoin to be use anywhere and at any time without any restrictions.
Bitcoin perform the role that other currencies can not serve any purpose, take for example if you leave and saved your money in your local bank currencies and it happens that you traveled to another country you may have problem with apending your money and tou bank savings may become useless and the only option will be Bitcoin as the only alternative.

Note: this explanation was born out of my own personal experience, and i hope others here will share similar experience too!

Topic: Take bitcoin as the virtual currency, that perform better than physical currency - page 2. (Read 343 times)