Topic: Why Bitcoin will always remain the best choice - page 3. (Read 1298 times)

Bitcoin is king, and the king of kings when it comes to cryptocurrencies as far as I'm concerned.  The best thing about btc is that there's no person or group running it like you see with so many of the shitcoins out there, especially the PoS ones (which I used to be a fan of). 

Just take a look at all the truly awful shitcoins that have taken a beating in the past day since ETH went PoS.  None of them even come close to bitcoin in terms of dominance or usefulness.  Is that going to be the case forever?  Maybe not, but damned if I know of a challenger with any serious credibility. 

On a side note: mm2543363580, you've been reported for burst-posting.  These 1xbit campaign idiots are like cancer.

Profitability is not only the reason why some people see btc as the best, it is all about the ease of use and convenience, the lack of control from any central body. People should not see btc only as a profiting tool but also as a great alternative to have control of your own funds and access them anytime you damn pleased.
The profit aspect is one side of it, the decentralized nature is what most people who truly understand the tech are after.

Bitcoin has been embedded in many people's minds that by investing in Bitcoin it will be profitable even though it will not always be like that,
Regarding credibility, I think there is no need to doubt it,
never be afraid and have to believe in what we do ourselves

The point is that bitcoin may not be the best there could be, maybe there could be something better in the future, but it is certainly something that we haven't seen so far and there aren't any better ones as well. This is why the best thing to do would be a great competition to bitcoin and that way we could see them both trying to be better than each other and improve meanwhile.

However, right now we have bitcoin and fiat and gold etc, and when you compare them bitcoin is the best, even though it has some drawbacks, it is still the best, and that means if someone gets 10/100 out of an example in a class, and the other gets 30/100, the one that got 30 could be bad, but still did better, and that is what we have with bitcoin.

I would not be so categorical in my statements. Bitcoin has many advantages and merits, but still, it is not an ideal asset that has its drawbacks too. Therefore, it should not be stated for sure that this is the best choice for everyone. Bitcoin is the best choice only for those who benefit from the features of this. Yes, BTC is better than fiat and gold in some ways, but I prefer not to put it all in one category for comparison.

But here, you are very wrong. Bitcoin should not be idealized, because it is easily traceable and pseudo-anonymous. Soberly evaluate opportunities, use advantages, consider impact  bitcoin's limitations and try to reduce it.

Bitcoin will always remain the best choice for every person, which is the investment of the future, as the return on investment in Bitcoin is very large. Cryptocurrencies, in general, have witnessed tremendous growth and recovery over the past years, Also, Bitcoin is better than gold and better than Fiat money for several factors, and the most important advantage is decentralization, as Bitcoin and other cryptocurrencies cannot be tracked by governments and transactions are done anonymously and quickly and can be sent and received in the wallet of anyone around the world with the click of a button.

A reliable digital gold we don't have to ignore because of the ability to make more investors millionaires. This is an investment opportunity and also an assets that we can keep for long ams make money from the huge liquidity that could increases or decreases the worth with time.
Bitcoin is gradually becoming a universal and acceptable digital gold with time even though many countries still think Bitcoin could pose a big danger to their economy growth. Many persons are beginning to understand why they need to hold Bitcoin since the worth of fiat can lost value anytime.

The most important to me is that it is scarce. That's one main reason for someone who looks for assets that he can depend on in the future. Having that limit in supply is what makes it an interesting and a good choice for those that are not really good in investments.
Understanding that simple economics would lead them to be open into more other assets upon finally having bitcoin as part of their portfolio based on that criteria.

Convenience always goes on top of security/decentralization. After all, people want to get things done as quickly and easily as possible. It's this reason why Fiat currencies won't be going anywhere soon. On the other hand, Gold is a well-known precious metal that's been used for centuries to build and preserve wealth. People trust Gold more than they would trust Bitcoin.

While Gold is much more stable in price than Bitcoin, it doesn't give you the ability to make huge returns out of it. Your wealth is relatively static in Gold, with little to no chances for profit. With Bitcoin, you can multiply your purchasing power if you know how to deal with volatile market prices. Despite its limitations, Bitcoin is still a better choice than Gold or Fiat because it's censorship-resistant. That means that you and only you control access to your funds. I hope people would get to learn more about Bitcoin to witness its full potential. Considering that Bitcoin has come a long way since its inception, it's unlikely it'll disappear anytime soon. Just my opinion

Perhaps even more important, it will remain the first choice due to history, longevity, it being first, established store of value and also responsible for basically the whole cryptosphere.  Take gold for example, at one point platinum was worth more (not any longer), however, palladium and rhodium are worth more than gold, esp rhodium.  But guess out of these metals which is the first choice- gold, for basically the same reasons as Bitcoin is when it comes to crypto.  This could also be considered another perspective on why Bitcoin is digital gold.

The portability of bitcoin is one of those characteristics that is often underestimated until you really need it, can you imagine how much of a pain would have been for someone holding gold at Ukraine to try to move it? With bitcoin the only thing that you need is a piece of paper with your seed words, and even something like that is unnecessary because if things got really bad to the point you were worried about every single one of your belongings being searched you could always memorize the seed words and carry no evidence you are holding any bitcoin, while still having the opportunity of accessing your coins in the future.

There are clear and obvious reasons why we prefer Bitcoin, but I think its most important features are portability and divisibility. Today's world has relatively convenient and comfortable facilities compared to the past, but world history has not always hosted such lucky periods. If we make predictions about what we might encounter in bad times, we can better understand the portable and divisible properties of Bitcoin.

But if you can have all of them, that will be a lot more profitable as you will gain multi sources of income. When one fails, the other asset will certainly works. Though bitcoin is still the best choice, but seeing how volatile and unpredictable it is, one should always be practical and should also have good amount of assets in their portfolio. That way, you will never run out of profits.

It's true yet I don't think that it's possible. I mean, Yes, Bitcoin is much greater and better than Gold or Fiat however I doubt that the people will try to abandon those two even if they are provided with correct information. People would rather choose convenience which is why fiat is the most favourable choice as it can be used to any kind of transaction.

Also, Unfortunately, Not only is the government against bitcoin but rather some professionals, celebrity, and various people who still thinks that crypto is a bubble even though that reliable information could be found throughout the internet.

Yes, it's true, misinformation about bitcoin is one of the reasons why bitcoin is still not accepted by some people. Moreover, the government with all its authority strongly opposes bitcoin. It is difficult when dealing with people who have great influence, in this case the government. They have all access to say anything to bitcoin.

Indeed, the reality is that there are people who are not interested investing in Bitcoin just because the price of Bitcoin is too volatile,
and he was not prepared if the price of Bitcoin suddenly dropped drastically. In fact, in my opinion, because the price of Bitcoin is very volatile,
we can generate very large profits from Bitcoin. That's why if we compare with other assets, Bitcoin is still the best for investment.
Especially Bitcoin's performance during the Pandemic in recent years can generate greater profits than investing in other assets.

It is true that Bitcoin has its drawbacks, but if we maximize the advantages of Bitcoin, it will be beneficial for us. Therefore I never hesitate
to invest in Bitcoin, but for people who are still afraid of the volatility of Bitcoin, there is no compulsion to invest in Bitcoin. There are still
other options, such as investing in Gold is also profitable. Although the profit generated is not as big as Bitcon, but it must be admitted that
it is safer and certainly legal in all countries. But as you say now there are a lot of fake gold circulating, that's why we should be able to know
the characteristics of real gold. Or so that we don't have to bother checking gold,  we can buy gold in a trusted place and reputable place,
so we can avoid buying fake gold.

Bitcoin is definitely a better choice than both Fiat and Gold combined. But governments don't want people to realize this, because that would mean almost everyone will abandon Fiat for good. The vast majority of people worldwide thinks Bitcoin is a scam, a Ponzi, or something that will fade away into oblivion because of governments' misinformation and propaganda against it. As long as there are opposing forces trying to prevent people from using Bitcoin as an alternative financial system, we won't be going anywhere. At least, Bitcoin is free and open for anyone to use to their hearts' content. Who knows if it lasts for generations? Just my opinion

They don't and I  don't blame them for it. There is an age factor in most of these, most of these guys don't work for themselves, they come up with ideas that there employees work on for them or maybe ideas presented for them of which they evaluate and find potentials. When it comes to cryptocurrency, its mostly a do it yourself.
On another note, these guys came to power following the traditional means of banks and the monetary system. It haven't failed them much nor is it knife-throat cutting and so the dependency would always be there with them until a huge progress is experienced in Bitcoin and other crypto projects.

Well, the shift from the various chains from which projects run there ICOs and IEOs might be proof to some possible changes but, we ought to realise that these changes are due to congestion and there could be an after effect of which, everything could come back to origin and by that I mean bitcoin for which other projects won't count.
Not to mention the true qualities of bitcoin for which other projects lack.

Btc does not have the support of the elite class yet but it has been able to compete quite well with fiat, imagine if it does...

There is no global dependence yet but it does not mean the possibility is not there. It becomes speculative because of people's desires and is not a part of its nature.
Btc can be replaced and so is fiat, the world is fast changing and nobody knows what the future holds. For more than a decade people have been hoping to see the token/coin that will replace btc, until that happens btc remains the best option.

If someone is afraid of the volatility of bitcoin then it is a good idea to buy gold, not only it is less volatile it is also a very good store of value, however there are many pitfalls when it comes to buying and storing gold and people need to be aware of them so they do not lose their investment, after all through the years there have been several scandals about gold bars and gold coins being fake so you need to know a little bit about the topic so you are not scammed, which is somewhat similar to what happens in this market in which you need to inform yourself about the different scams that exist so you don't fall into them and lose your money.