Topic: Why Bitcoin will always remain the best choice - page 7. (Read 1298 times)
When it comes to portability, I believe that Bitcoin is more portable than the rest two, "Fiat & Gold", because I still disagree with the fact that fiat is portable, because looking at this picture below which I just edited, I was able to diagrammatical illustrate the level of portability of each of these assets (Bitcoin, Fiat & Gold), because an individual with over $1million worth of Bitcoin could be sitting next to you and you will never noticed, unlike Fiat and Gold that is easily noticeable.
I like fiat for spending, it depreciates in value because of inflation, it makes way for bitcoin, gold and other assets like that to have more value, they have more value because they are paired with fiat to estimate their value and fiat is often depreciated. I like fiat because of that, I can spend it, but I can not hold it.
Just like you, fiat should not be kept long term as it always loses its value. Fiat is only to be owned as a means of everyday payment whereas bitcoin and gold should be considered as long term investment assets. I don't plan on having fiat as a bank deposit, it won't do much in the long term.Bitcoin has limited supply, just 21 million coins. What is not scarce but available to everyone with ease would have little value, but the 21 million supply and the demand, makes bitcoin valuable. Bitcoin become a means of investing, people buy it and hold it because of its value that appreciates over certain time. Also helping peopole in long term as an hedge against inflation.
Limited supply should be the reason why its price increases in the long term, so we should not hesitate to include it in our portfolio as an investment asset. But I think no one should ignore the risk, they should understand the investment risk.
Bitcoin is your best choice on the criteria that you have outlined, but what about other things? I'm a supporter of bitcoin, and I use it for keeping my assets safe against inflation among other things, but there are some things that other asset classes can do that bitcoin can't. Fiat remains to be the king when it comes to purchasing something, and gold remains to be one of the most important metals as it has other uses aside from being used as a jewelry and for other shiny things. We can be bias on our criteria, but facts remain facts at the end of the day.
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.
To add more in light of the choice of Bitcoin for those speaking for Bitcoin, the fees for Bitcoin is now very low and that doesn't really take anything away from you when sending coins. You can be charged as low as $0.0.. depending on the speed you want. This is really friendly to bitcoiners. However fiat is still standing in the minds of many especially non risk takers that prefer to hodl in fiat because they can easily monitor it because of stability.
Perhaps because bitcoin can be a:
1. An opportunity - because it can provide
profit to anyone who will have an interest in it.
2. Can be Savings in the future - purchase of
bitcoin to anyone and he will hold it for a few years no
it will be sold in trading and if the price suddenly increases
this amount, you will suddenly have savings in the future.
3. Can be used in business - Many people use
bitcoin in different countries in different aspects of
business through payment transactions online.
1. An opportunity - because it can provide
profit to anyone who will have an interest in it.
2. Can be Savings in the future - purchase of
bitcoin to anyone and he will hold it for a few years no
it will be sold in trading and if the price suddenly increases
this amount, you will suddenly have savings in the future.
3. Can be used in business - Many people use
bitcoin in different countries in different aspects of
business through payment transactions online.
I don't think it's fair to post such an image without giving credit to its creator.
The image posted above has been already posted by DocumentingBTC twitter account.
Click here to see the tweet.
The image posted above has been already posted by DocumentingBTC twitter account.
Click here to see the tweet.
Absolutely, it slips my mind, I don't usually post anything here without adding the source link. Thanks for pointing that out.
You're need to add few criteria to compare too,
Stable price:
Bitcoin X
Gold X
Fiat Y
This mean Bitcoin is very hard to use for daily basis since the price can constantly change every second in 24 hours
Widely accepted and government regulation:
Bitcoin X
Gold Y
Fiat Y
This mean it's hard to achieve global adoption, it's need to be accepted globally in order to make Bitcoin price quite stable and didn't shock many people.
Easy and friendly to use:
Bitcoin X
Gold X
Fiat Y
It wouldn't need a hard way to understand fiat and how it's created etc, you can know it from an employee on central bank. While Bitcoin there's almost no people will teach you in real life, even you can learn yourself on internet, you can't understand for single day or a week.
Stable price:
Bitcoin X
Gold X
Fiat Y
This mean Bitcoin is very hard to use for daily basis since the price can constantly change every second in 24 hours
Widely accepted and government regulation:
Bitcoin X
Gold Y
Fiat Y
This mean it's hard to achieve global adoption, it's need to be accepted globally in order to make Bitcoin price quite stable and didn't shock many people.
Easy and friendly to use:
Bitcoin X
Gold X
Fiat Y
It wouldn't need a hard way to understand fiat and how it's created etc, you can know it from an employee on central bank. While Bitcoin there's almost no people will teach you in real life, even you can learn yourself on internet, you can't understand for single day or a week.
I need all three to be much more balanced. But for a larger percentage of ownership, Bitcoin is the choice. 50% for Bitcoin and for the rest I would love fiat and gold. Do not all three have the same strong drive in how the market works. Investing in Bitcoin for gold lovers is of course often not considered a hedge because of what they think is the type that can be seen. But for us having large amounts of money in Bitcoin gives us freedom of sole rights and cannot be owned by any party. Having a large amount of gold will continue to be monitored, as well as fiat which only makes you focus more on ownership taxes. While Bitcoin is loose
Bitcoin, unlike gold, has a max supply that we all know is 21 million BTC, while there are only estimates for the total amount of gold that has been mined so far and that is still underground. Not to mention all that gold found on various asteroids or other planets in our solar system. Bitcoin has a far greater advantage here and has a far fairer and cleaner way of mining, regardless of all the theories that it is energy demanding and has a negative impact on the environment.
When it comes to resistance to censorship, Bitcoin has its advantages, but only if we remove centralized crypto exchanges and potentially bad Bitcoin miners from that equation, because both can censor our transactions or freeze funds at a certain BTC address.
As for authenticity and forgery, not everything is as clear as it seems - because we have some BTC forks that are still presented as real BTC, while on the other hand, anyone who does not have enough knowledge about Bitcoin can buy any coin called Bitcoinxxx, or can be scammed to buy testnet coins.
Is Bitcoin the best choice? Maybe, but only for those who understand it at least in some basics.
When it comes to resistance to censorship, Bitcoin has its advantages, but only if we remove centralized crypto exchanges and potentially bad Bitcoin miners from that equation, because both can censor our transactions or freeze funds at a certain BTC address.
As for authenticity and forgery, not everything is as clear as it seems - because we have some BTC forks that are still presented as real BTC, while on the other hand, anyone who does not have enough knowledge about Bitcoin can buy any coin called Bitcoinxxx, or can be scammed to buy testnet coins.
Is Bitcoin the best choice? Maybe, but only for those who understand it at least in some basics.
I don't think it's fair to post such an image without giving credit to its creator.
The image posted above has been already posted by DocumentingBTC twitter account.
Click here to see the tweet.
The image posted above has been already posted by DocumentingBTC twitter account.
Click here to see the tweet.
I like fiat for spending, it depreciates in value because of inflation, it makes way for bitcoin, gold and other assets like that to have more value, they have more value because they are paired with fiat to estimate their value and fiat is often depreciated. I like fiat because of that, I can spend it, but I can not hold it.
Bitcoin has limited supply, just 21 million coins. What is not scarce but available to everyone with ease would have little value, but the 21 million supply and the demand, makes bitcoin valuable. Bitcoin become a means of investing, people buy it and hold it because of its value that appreciates over certain time. Also helping peopole in long term as an hedge against inflation.
I will say bitcoin is more than portable, because it is digital, not something physical.
Bitcoin has limited supply, just 21 million coins. What is not scarce but available to everyone with ease would have little value, but the 21 million supply and the demand, makes bitcoin valuable. Bitcoin become a means of investing, people buy it and hold it because of its value that appreciates over certain time. Also helping peopole in long term as an hedge against inflation.
I will say bitcoin is more than portable, because it is digital, not something physical.
The diagram below gives a short and precise distinctive difference between BTC, Gold and Fiat.
with the above explanation it is clear why btc is better and the best choice over the rest. If you are still in doubt it is too bad because you are clearly missing out.
with the above explanation it is clear why btc is better and the best choice over the rest. If you are still in doubt it is too bad because you are clearly missing out.
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