Topic: The future of Bitcoin as digital currency - page 7. (Read 1206 times)

Anyone that told you that lack sense or probably you have misquoted the person because what you said didn't make any sense. We have those that were born poor but they made it out of the poverty to the top of the food chain and today they're millionaires. Getting born poor doesn't seal your fate in life, it's left for you to be determine to make it out of poverty and be rich. Rich people who were born rich also die poor too so nobody is destined to die the way they were born.

With or without Bitcoin you can achieve financial freedom, Bitcoin only makes it more doable since you don't get the restriction that some of the other means of getting financial freedom has. Bitcoin has made the playing field even but still having less resources puts you at an disadvantage because if Mr A and B both have patience's to hodl, who has more resources will get the best results from investing in Bitcoin. Your thread has no relationship with the title, I was expecting to read about the concerns of Bitcoin future of its feature of been a digital currency but the body of your topic has nothing to do with that, try changing the title to something that relate more with the body of your post.

You are right that governments should not ban technology, but in some cases governments face problems that force them to take such measures. It is also often heard that people in many countries use digital currency through digital technology for money laundering. Obviously, in such cases, the governments do not get any record because there is no legal record of these transactions.

There are many people who were born poor but have come out of the quagmire of poverty through their hard work and effort. So it would be wrong to say that those who are born poor die poor. Of course, if one has good knowledge and interest about Bitcoin, he can gain a lot by investing in it. If you study and work hard, you can achieve a lot. Your education and hard work can end poverty, so you don't have to rely on Bitcoin alone. Success can be achieved everywhere with hard work.
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Bitcoin brings freedom, but what freedom? People misunderstand the freedom and assume it means freedom from everything, but that’s not true. Bitcoin brings freedom in the sense that you have total control over your money. Bitcoin doesn’t give you freedom by changing the lives of poor people. That can happen if you invest and volatility favors you in your planned timeframe. But if not, the core of this is so you are the owner of your keys and your funds, not a centralized or middle man somewhere else.

Some government do because they are corrupt and they don't want to take chances wherein they may lose financial control as Bitcoin is all about financial freedom and no involvement from third parties.

But I didn't quite understand what are you trying to say in second half of your quote and how is it even have to do anything with Bitcoin, why are you relating working hard with Bitcoin? I understand we need money to invest or buy Bitcoin but there are people who work even harder but don't bother investing into Bitcoin, so I would say it's more of knowledge and smart move that plays a role here.

The government will make policies they feel are appropriate for the people of the country. Such policies might be wrong or right but they will always claim that it is for the good of the people.

Bitcoin is decentralized which gives everyone who uses it the freedom to carry out financial transactions without restrictions.  It is indeed a currency that has revolutionized the financial system of the world.

That's not true because you can work hard and get out of poverty. Many people who were born poor became rich by applying diligence and hard work.

Bitcoin has made many people make good profits that have made them comfortable. But you need to buy Bitcoin which means you have to earn money to invest in it. You can also earn Bitcoin when you acquire the right skills.

You are right that the if government lifts restrictions on Bitcoin more people will Invest in the sector which will help them in achieving their dreams. And you are also right that long-term investment in Bitcoin is the best option.

You need to read the definition from the whitepaper.


If you pay something using Bitcoin directly for a product or service, you're use Bitcoin as a currency. If you never do that, that's fine, but there's someone did bought 2 pizzas using Bitcoin.

Bitcoin can only be used through internet connection, how can someone broadcast Bitcoin transaction through offline?

that’s exactly why the government would want to prohibit bitcoin

it promotes anonymity and gives ‘too much freedom’ that it could invite illegal activities


i’m confused do you mean education as in learn about bitcoin and work hard to trade or invest? or do you mean to replace fiat money with bitcoin?

The good and unique thing about Bitcoin is basically as a result of its open-source technology which has also made it a decentralized digital currency. For the sake of emphasis, I am of the opinion that bitcoin is a digital currency because you can use it to transact products and services even though that has not been widely accepted across the globe. We need more involvement of marketers and those doing the everyday business, unlike the investors we have already heavily patronizing the currency.

One thing I am sure of is the popularity of the Bitcoin as a digital currency as the time progresses. This is how it has been looking back to the history of currencies and the evolution of the paper currency currently in circulation. Before the paper currency, was the coins, the gold currency amongst other past currencies. You have the initial period where people adopt gradually through B2B business transactions and in stocks. Then you get to the level where it is widely accepted.

Since Bitcoin is still barely over a decade, I expect more involvements and adoption from the people and we can also be very involved in the promotion of the currency to more business arena while we find the easiest way people can use it to transact into denominations and more easy-to-use digital currencies.

Bitcoins cannot be considered as a digital currency. The reason is pretty simple. Bitcoins are limited or fixed in numbers, that is no more Bitcoins can be created or made. So instead of using as a mode of payment, people will use it as an asset which is very valuable due to fixed in numbers. No matter what’s the government’s take will be on the coins, people won’t use it to buy normal stuffs. They will sell Bitcoins to make maximum profits only.

If the technology is open source, it is free and open-access for everyone. Governments can not prohibit it and can not block access to the technology.

Open source is important because it means verifiable, reproducible by everyone.

You can join the party by buying bitcoin, hold it in your non custodial wallets that should be open source too.

If you hold your bitcoin on centralized exchanges, you can lose it when the exchanges refuse to approve your withdrawal requests. Exchanges can scam you anytime and if you want your bitcoin safe, store it in your open source and non custodial wallet.

You must back up your wallets to be able to recovery it later.
How to to back up a seed phrase?

Bitcoin is meant for everybody no matter the country, race or religion. It is one thing that drives everyone together without giving a separate view. Bitcoin has a great monetary value in this our generation and more as we exploit the future.
We can see one good country has already accepted the use of Bitcoin as a legal tender (El Salvador) this is a great insight of what will become of Bitcoin in the future. Many countries will then follow this steps in the future, as currently more e-commerce platforms are already working towards accepting Bitcoin payment as an option. This shows how far Bitcoin will grow in the future

Governments do whatever they want, the only thing that matters to us regarding Bitcoin is to make it so that their actions don't affect Bitcoin. That is why Bitcoin was designed to be decentralized and it has achieved that successfully giving it other aspects such as also being censorship resistant.

They don't sound very wise to me. There are countless examples that prove this wrong.

Bitcoin represents true freedom. What is life without the freedom to do what you want, when you want it, which will help you achieve a lot in life? The government never wants ultimate freedom for its own people; they always want everything to be under their control so that they may direct and give laws that we have no choice but to follow in order to realise our desires. Many countries claim to practise democracy, but many still operate under dictatorships.

Bitcoin itself is already a freedom, even you live in a country where Bitcoin isn't allowed, you're have a choice to own it through DEX or no KYC P2P e.g. Bisq, Robosats.

What does Bitcoin has to do with work hard? you can become whatever you want with work hard and it's not always related to Bitcoin if you want to change your life. Bitcoin is just a currency, similar to fiat.

No government should prohibit the ownership of this technology

. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.

Someone very wise say if you're born poor you die poor and I quote

But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.

But the way we can achieve more of the dream is  when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.