Why Bitcoin will always remain the best choice - page 5.

boyptc

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Quote from: boris singer on September 06, 2022, 11:09:03 AM

Quote from: boyptc on September 06, 2022, 07:13:02 AM

Quote from: boris singer on September 05, 2022, 11:27:17 AM

People who do have a broader view will obviously be in bitcoin in terms of investment and gold is the second thing that can be an option.
But as long as we live by clear rules we won't be able to forget Fiat in this regard.
I personally am in bitcoin when making long term investments, but when in everyday life fiat is a solution so there is no need to attack each other to bring each other down actually because it really comes back to their respective choices but when people with greed clearly don't want to see something higher than what they think is right.

What rules?

Fiat isn't a solution, fiat is what we use and it's been there even before the creation of bitcoin. It don't solve anything while bitcoin, it's been made with the solution of the financial crisis that has happened on 2008-2009, just correct me with the right year for that.

And those that have experienced it, we're likely dealing with it again right now.

Rules in the administration. bitcoin is a good thing because indeed they are one of the very good investment objects for now, but when we live today it is clear we can't rule out FIAT either.
I love bitcoin and I use it as an investment tool that allows me to support my life until now is mostly the result of my investment in bitcoin. But in other respects I also can't rule out FIAT even though they don't change anything but FIAT is still very useful for everyday life.

IMO, bitcoin doesn't have to rule out fiat.

It has to be there and be just the greatest alternative that people can and lucky for us, we already knew what bitcoin is for and what's up to.

There's no need for any of us to dispose one and the other, we can use both but it's more remarkable to see what are the greatest things that bitcoin can do to each of us.

Wong Gendheng

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Until now Bitcoin is still the king of cryptocurrencies, if we want to know the market picture in general then we can check bitcoin, if the price is red then it is certain that the price will be red or vice versa, the influence of bitcoin is still strong even though many altcoins continue to grow rapidly.

Pujangga

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Bitcoin is the first cryptocurrencies so it has the largest community, according to the latest data the number of bitcoin users is currently more than 200 million so that bitcoin is the most popular, of course another factor is bitcoin has many top developers so it automatically benefits bitcoin.

KingsDen

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Quote from: Anonylz on September 05, 2022, 04:02:43 PM

Quote from: KingsDen on September 05, 2022, 09:47:38 AM

I have some observations;

The picture in Op said that fiat is not durable. I don't know the concept of durability in Op, but one of the major characteristics of money is durability and fiat is quite durable. Whether in paper form or in coin form and recently in CBDC form, all are durable.

I think that is one concept that should be reviewed, have you seen the size of $ 1 million dollars, or in any other fiat currency, do you think it will fit in your physical wallet without drawing attention? in the case of BTC, you can have more than $ 1 million worth of btc in your digital wallet on your device without a single soul noticing anything. Gold is another story entirely. And that is what the durability in the @op infographic means.

No! That is not what Op implied in the above info graphic, the concept you explained about 1 million dollars and 1 million worth of btc is rather known as portability and not durability. Durability is a measure of how long a currency will last before it becomes unusable and not how bulky or light the currency is to handle.

Bitcoin is durable because it is in digital form, fiat is also durable because it has a digital version. Even the paper version is durable and whenever it eventually becomes old, it could be recycled or re-minted for continuity.

Pierre 2

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I think I exactly agree with people that we need dual mechanism of Bitcoin and fiat currencies. Bitcoin is the best wealth protection out there as its scarce. But fiat money best option if you wanna take loans as inflation decrease their value and in overall you spend less money than you are gonna spend later on (if you didn't take loans). Bitcoin's strength in your graph is obvious and we should be buying more Bitcoins for future.

Bitstar_coin

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Quote from: fullhdpixel on September 05, 2022, 02:21:51 PM

But, that was only a prediction and there is no assurance yet that it can happen. Don't forget that there are so many factors which can affect the growth of btc. Maybe it's not only about the potential price the btc can achieve on why it is titled to be the best choice but it may be because it is decentralized and partially anonymous. We won't worry that our fund will be frozen because we have a total control of it.

Gold on the other hand has its own use unique use case so it is fine if we will also have it other than btc. Once we already have both of them, there is no real need to have a fiat money anymore tho fiat money can still be the best choice for a normal individual.

Most of the comments are just base on the price speculative aspect of btc failing to recognize the major features of btc like decentralized nature, scarcity, anonymous and durable.
Beside price speculation and volatility which emerges as a result of traders, btc major features makes it the best among the rest assuming it was not being traded in the asset market and treated as an asset instead of an alternative means of payment.

sayaya17

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Quote from: Alert31 on September 06, 2022, 06:12:33 PM

Bitcoin,fiat and gold have their own purpose why they exist. Bitcoin is definitely the best in terms of investment because of the higher earning potential. And it is good to invest both for short and long term if there is really knowledge about crypto or digital currency. Gold is for long-term investment that has been around since then. Fiat is what we use every day, with or without bitcoin, the truth is that we need fiat for our daily life even if we want to invest both in the stock or crypto market. Those three act as a medium of exchange which means they are all important.

As you said everything has its own purpose, and also choosing Bitcoin doesn't mean we don't need fiat and Gold. Because after all Bitcoin also
has weaknesses and is not something perfect, so the presence of Bitcoin is not to replace fiat and Gold. But Bitcoin was created as an alternative
either as a payment or as an investment, having all three is much better than having just one. Moreover, many countries still prohibit Bitcoin as
a means of payment, so fiat is still very much needed in our lives. Likewise with Gold, although Bitcoin can provide greater profits, but it will be much
safer if we diversify our investments. So investing in Gold and Bitcoin is much safer than we only focus on investing in Bitcoin.

Alert31

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Bitcoin,fiat and gold have their own purpose why they exist. Bitcoin is definitely the best in terms of investment because of the higher earning potential. And it is good to invest both for short and long term if there is really knowledge about crypto or digital currency. Gold is for long-term investment that has been around since then. Fiat is what we use every day, with or without bitcoin, the truth is that we need fiat for our daily life even if we want to invest both in the stock or crypto market. Those three act as a medium of exchange which means they are all important.

boris singer

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Quote from: boyptc on September 06, 2022, 07:13:02 AM

Quote from: boris singer on September 05, 2022, 11:27:17 AM

People who do have a broader view will obviously be in bitcoin in terms of investment and gold is the second thing that can be an option.
But as long as we live by clear rules we won't be able to forget Fiat in this regard.
I personally am in bitcoin when making long term investments, but when in everyday life fiat is a solution so there is no need to attack each other to bring each other down actually because it really comes back to their respective choices but when people with greed clearly don't want to see something higher than what they think is right.

What rules?

Fiat isn't a solution, fiat is what we use and it's been there even before the creation of bitcoin. It don't solve anything while bitcoin, it's been made with the solution of the financial crisis that has happened on 2008-2009, just correct me with the right year for that.

And those that have experienced it, we're likely dealing with it again right now.

Rules in the administration. bitcoin is a good thing because indeed they are one of the very good investment objects for now, but when we live today it is clear we can't rule out FIAT either.
I love bitcoin and I use it as an investment tool that allows me to support my life until now is mostly the result of my investment in bitcoin. But in other respects I also can't rule out FIAT even though they don't change anything but FIAT is still very useful for everyday life.

boyptc

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Quote from: boris singer on September 05, 2022, 11:27:17 AM

Quote from: boyptc on September 04, 2022, 06:09:44 PM

While the gold and fiat defenders, they'll reason out that bitcoin is intangible. Tongue

Scarcity for bitcoin is a great thing and that's why the majority of us understands that in the near future, this asset is going to be of a great value that the others haven't seen yet.

It's easy to carry and to store and you can just simply walk on the side walk being an investor and holder of it without being showy.

People who do have a broader view will obviously be in bitcoin in terms of investment and gold is the second thing that can be an option.
But as long as we live by clear rules we won't be able to forget Fiat in this regard.
I personally am in bitcoin when making long term investments, but when in everyday life fiat is a solution so there is no need to attack each other to bring each other down actually because it really comes back to their respective choices but when people with greed clearly don't want to see something higher than what they think is right.

What rules?

Fiat isn't a solution, fiat is what we use and it's been there even before the creation of bitcoin. It don't solve anything while bitcoin, it's been made with the solution of the financial crisis that has happened on 2008-2009, just correct me with the right year for that.

And those that have experienced it, we're likely dealing with it again right now.

$anounimus$

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My view is simple as usual, there are no guarantees. Cryptocurrency is still very new, technology is still new. There will be a lot of growing pain — it cannot be expected to be perfect in the present nor do we try to predict the future. However, it makes sense to keep a close eye on cryptocurrency developments, and keep investing in at least one or two (or more) cryptocurrencies.

Bitstar_coin

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Quote from: Wolfencloud on September 05, 2022, 01:49:43 AM

I think its not fair to compare the three, they have their own pros and cons. Yes, it is true that bitcoin may have all the advantages a human need but keep in mind that there are a lot of people who doesn't use any electronics or gadgets. So I guess the diagram is still missing out something.

I don't see any unfairness here because they all serves as a medium of exchange, and yes they each have their pros and cons but btc advantage outweighs any cons from a transparent and secured perspective.
The world is rapidly advancing technologically and those who are still illiterate to electronics will start to gradually learning and understanding how it works, even the fiat system are more of electronic operations this days, online banking is mostly what is happening now.

Reid

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It would also be beneficial if we could see the difference between digital currencies, it's almost like fiat but it makes life easier. Security though might not be that good but it's expected from a centralized currency.
I don't have gold, but I do use fiat currencies and up until now I like it more than using cards offered by the bank. I like it when I could say it's mine and not a property by the bank that I am just borrowing.
The same goes with Bitcoin, when you purchase it, it's yours. That's what pushed me to invest in it even with all the FUD that is being thrown at it.

bitzizzix

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And why I chose bitcoin in the end and I will explain it here.

The first thing that makes bitcoin special apart from being limited is its privacy, because people on the bitcoin network can trade or transact without knowing who they really are in real life.
and want to manage our finances without bank intervention or paying unnecessary fees.
and bitcoin is open to all, so anyone with internet access can engage with the bitcoin network and all i need to do is connect with a third party service that does bitcoin exchange.
and another important aspect of bitcoin is decentralization, whenever person A wants to send bitcoins to person B, there is no need for a central authority like a bank, therefore no other party can control the supply of bitcoins through the bitcoin network. Faster, cheaper, safer, and immutable.
and in terms of investment it is clear that bitcoin is much better and more profitable than gold, especially for the long term.

Smack That Ace

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Assalamu Alekum

Quote from: Cryptmuster on September 05, 2022, 02:48:33 AM

Quote from: Smack That Ace on September 04, 2022, 11:13:45 PM

To be honest, bitcoin is good and the best choice when we talk about the investment aspect but it cannot be the best in all cases. Like you said, fiat will still be king in everyday spending and buying something, I still find the convenience of fiat in my life, it doesn't become useless even if bitcoin is here. Same for gold, bitcoin is a better investment than gold but given its volatility, it cannot be said that it is a more stable store of assets than gold. Bitcoin cannot replace gold as jewelry for people. Human needs are extremely abundant, bitcoin is not something that is too versatile to be able to provide us with every utility.

I don’t know if it’s right to call bitcoin the best investment compared to gold, many are ready to argue with you about this. But bitcoin has a lot of positive aspects. After all, before bitcoin became universally recognized, gold did not have any truly worthwhile competitors. And if you take the cryptocurrency market, then bitcoin is without a doubt the best investment option that you can do.

I think it depends on one's point of view. Personally, from an investment perspective, I think bitcoin is worth investing in rather than gold. Many people are afraid to invest in bitcoin because of its volatility but for me the more volatile the better the chance of making big profits from it. As for gold, it is really a safe asset because it has been recognized for thousands of years, but because it is less volatile, the volatility is quite small to be profitable. When it comes to safe havens, bitcoin cannot be safer than gold, although it can still be a haven.

Anonylz

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Quote from: KingsDen on September 05, 2022, 09:47:38 AM

I have some observations;

The picture in Op said that fiat is not durable. I don't know the concept of durability in Op, but one of the major characteristics of money is durability and fiat is quite durable. Whether in paper form or in coin form and recently in CBDC form, all are durable.

I think that is one concept that should be reviewed, have you seen the size of $ 1 million dollars, or in any other fiat currency, do you think it will fit in your physical wallet without drawing attention? in the case of BTC, you can have more than $ 1 million worth of btc in your digital wallet on your device without a single soul noticing anything. Gold is another story entirely. And that is what the durability in the @op infographic means.

m2017

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keep walking, Johnnie

It seems to me that your diagram doesn't take into account all the parameters and categories. For example, it would be necessary to add for comparison Electronic Money (like Paypal, Bank's Digital Currency and so on) and the Ability to Pay Everywhere. Also, I believe that bitcoin, gold and fiat are different financial instruments that are not entirely correct to compare. Gold has not been used as a currency for a very long time and it is almost impossible to pay with it anywhere. Although bitcoin was originally conceived as a digital currency, it has now moved away from this concept towards an investment instrument. It turns out that you need to compare either bitcoin and fiat as currencies, or bitcoin and gold as investment instruments. Comparing everything at once would be an erroneous decision, because these are different categories with different applications.

qwertyup23

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Quote from: Rruchi man on September 04, 2022, 12:36:13 PM

I get that the mass of people here will speak in favor of bitcoins, and it is good, not that I am trying to say the other options you compared with bitcoins are not relevant, but from your topic OP- "WHY BITCOIN WILL ALWAYS REMAIN THE BEST CHOICE", do you really think bitcoins will "always" remain the best choice? taking cognizance of the fact that there could be another ground breaking innovation. For the now bitcoin is the best choice, but we can't say it will always remain the best choice. At a time people also believed gold to remain the best choice, until the reality of bitcoins came, change and development is constant.

I agree with your statement.

It is not always about being the best but it is almost always about the payment method that is most efficient. Is BTC the best choice in terms of day-to-day payment? Is BTC the best choice in using as the main medium of currency around the globe? I doubt about that, but there are some aspects that you can consider BTC to be the best.

At the end of the day, it is always about recognizing which medium to use in the best and most efficient way possible. BTC is not always the best and that is fine. There are some aspects where fiat will overwhelm and shine, but that does not mean that fiat is indeed the best in investing.

fullhdpixel

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Quote from: landheer on September 04, 2022, 10:46:10 PM

because people predict the price of bitcoin in the future will be high, so many of them choose bitcoin for long-term investment, and because bitcoin is in limited supply then people will definitely choose bitcoin for long-term investment, but I think gold is also no less important because the price of gold from year to year the price is increasing because gold has many uses other than for jewelry it is also always used for electronics and so on. so I thought bitcoin, gold and money. I think they are inseparable friends, and we should have them all.

But, that was only a prediction and there is no assurance yet that it can happen. Don't forget that there are so many factors which can affect the growth of btc. Maybe it's not only about the potential price the btc can achieve on why it is titled to be the best choice but it may be because it is decentralized and partially anonymous. We won't worry that our fund will be frozen because we have a total control of it.

Gold on the other hand has its own use unique use case so it is fine if we will also have it other than btc. Once we already have both of them, there is no real need to have a fiat money anymore tho fiat money can still be the best choice for a normal individual.

monineklutak

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Quote from: _BlackStar on September 05, 2022, 10:19:10 AM

Quote from: Cryptmuster on September 05, 2022, 02:48:33 AM

I don’t know if it’s right to call bitcoin the best investment compared to gold, many are ready to argue with you about this.

You can assume that bitcoin is not the best when compared to gold, but please consider these 4 points:
Unlike gold, bitcoins are:

Easy to transfer
Easy to secure
Easy to verify
Easy to granulate

Limited supply is one of the advantages of bitcoin over gold, but I agree that these two assets are not competing to be the best but they are assets that can be considered as an investment instrument and a store of value. People use bitcoin as a means of payment, investment, or trading asset, but don't expect everyone to agree with bitcoin while they agree with gold.

The convenience that Bitcoin could provide by any means is comparable. The anonymity, as well as the profitability of it, is also an edge though it has the biggest risk due to its volatility. Limited supply could make its price strike better during every market cycle. However, gold is still a good investment though they really have differences and edges.

Talking about fluctuating I think almost everyone knows that the crypto market is like that,
other than that regarding Bitcoin and gold investments, of course, there are many differences,
What is certain is that all investments will always have risks

Topic: Why Bitcoin will always remain the best choice - page 5. (Read 1298 times)