Topic: Why have Bitcoin instead of cash? - page 101. (Read 246169 times)
Bitcoin is much safer in my eyes and its also usable all over the world globally, you do not have to transfer it and if you want to transfer it to family it can be done in seconds.
I have a very live example which is the concrete reason to have bitcoins instead of cash. I believe that the opinion that we must pay tax and then purchase bitcoins with rest of the amount as per requirement. I strongly oppose tax evasion with the help of bitcoin.
Live example to have bitcoins instead of cash (still, it is not possible because bitcoin is not yet popular) :
Live example to have bitcoins instead of cash (still, it is not possible because bitcoin is not yet popular) :
Hello There,
India bans top currency notes such as Rs.500/- and Rs.1,000/- to prevent black money. Now there are only three notes in circulation Rs.10, Rs.20 and Rs.50
http://www.thehindu.com/news/national/live-narendra-modis-address-to-nation/article9320548.ece
Google for more news links.
Yes, There are some preventive measures taken to deal with the situation but still it is one of the masterstroke by India prime minister Narendra Modi against black money.
How do you see this action and what kind of impact this will create on the bitcoin in India?
Best
Dudeperfect
India bans top currency notes such as Rs.500/- and Rs.1,000/- to prevent black money. Now there are only three notes in circulation Rs.10, Rs.20 and Rs.50
http://www.thehindu.com/news/national/live-narendra-modis-address-to-nation/article9320548.ece
Google for more news links.
Yes, There are some preventive measures taken to deal with the situation but still it is one of the masterstroke by India prime minister Narendra Modi against black money.
How do you see this action and what kind of impact this will create on the bitcoin in India?
Best
Dudeperfect
In some useful cases, having bitcoin benefits yourself from geophysical boundaries and you will be able to bypass certain regional restrictions on purchasing something you really want online. Also aside from that, you do have the freedom to control your money and keep it from whoever who wants to take control of it (banks, governments and whatnot) plus the security features of it is unique compared to what the banks has because every transaction made using your address would be broadcasted online and will be viewed by millions of user and it will remain there as a reference that you indeed made a transaction in the network on that certain date and time.
Bitcoin is safer, faster and easier to use "once you get used to it" than cash, I think it will become the new standard of money in the future, electronical money in general is competing seriously with paper money.
I don't think it will, though the world are moving fast but majority of the people still cannot adopt with it. We need paper money in our life or cash as the OP states, without it our life would be miserable as bitcoin can be manipulated and the value of our holdings will change from time to time.It is true that Paper money will be their, why even so many are taking bitcoin in paper for more security purpose. About the bitcoin manipulation why even fiat currency are manipulated as per their government and economy situation
I guess paper security for Bitcoins is different from paper money. But I agree with your point about manipulation however not in the negative sense. Government do implement measures that would control the value of fiat currency. This way they can control the inflation of things. Governments try to prevent hyper inflation which would lead to exponential growth in the amount of money but not the value of it. Similar to those in countries like vietnam. In Vietnam, their money is in the millions and billions but it's just worth so little when converted into USD. That is a bad example of governments failing to control/manipulate their fiat currency.
Bitcoin is safer, faster and easier to use "once you get used to it" than cash, I think it will become the new standard of money in the future, electronical money in general is competing seriously with paper money.
I don't think it will, though the world are moving fast but majority of the people still cannot adopt with it. We need paper money in our life or cash as the OP states, without it our life would be miserable as bitcoin can be manipulated and the value of our holdings will change from time to time.It is true that Paper money will be their, why even so many are taking bitcoin in paper for more security purpose. About the bitcoin manipulation why even fiat currency are manipulated as per their government and economy situation
Bitcoin is safer, faster and easier to use "once you get used to it" than cash, I think it will become the new standard of money in the future, electronical money in general is competing seriously with paper money.
I don't think it will, though the world are moving fast but majority of the people still cannot adopt with it. We need paper money in our life or cash as the OP states, without it our life would be miserable as bitcoin can be manipulated and the value of our holdings will change from time to time.
Bitcoin is safer, faster and easier to use "once you get used to it" than cash, I think it will become the new standard of money in the future, electronical money in general is competing seriously with paper money.
There are many things about bitcoin that makes it better than cash like it is decentralized so you have a full control over your coins, it is anonymous, has low fees and its volatile price that makes it a good long term investment. But it is not wise to have your money in bitcoins only. Your money should have a paper money and some bitcoins cause merchants who accepts bitcoin is limited, Supporting your daily needs with bitcoin will be hard.
yeah not always a bad digital, digital actually better than paper money or cash, bitcoin created as a digital because this will support the currency in the future Who would want?, that would give a threat to us, we have to preserve the privacy and that's why rich people does not fully put their money in the bank as even bank employees trusted enough to keep our information can divulge it for others and we do not like that.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
Right! Banks do have a great problem with privacy. Since, everything can be accessed by people. Unlike in Bitcoin, you limit people's access to your privacy by how you use it and how careful you are. However, bitcoin still has flaws regarding security. If people want to know your identity they can trace your transactions and would results knowing where you cash it out hence knowing who you are.
So which service is more safe in this regard? Methinks, rank-and-file people don't have any opportunity whatever to trace fiat transactions made by the bank, while all Bitcoin transactions are traceable for the simple reason they are all in one ledger, the blockchain, readily available for anyone. On the flipside, though, bank transactions are totally transparent to authorities and whoever works for them.
Bitcoin is a great equalizer in this respect.
Good Point. And if Security is being discussed. I'd rather walk with bitcoins in my phone rather than a cash in my pocket. Because even if someone tries to steal from you, they can't find anything because it is in the cloud. And , it is more convenient to use bitcoin because can pay our bills in just one click. Without the effort and time excerted. Plus, it gives us an opportunity to change its values to different currency in an instant making it more convenient for us to use.
Who would want?, that would give a threat to us, we have to preserve the privacy and that's why rich people does not fully put their money in the bank as even bank employees trusted enough to keep our information can divulge it for others and we do not like that.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
Right! Banks do have a great problem with privacy. Since, everything can be accessed by people. Unlike in Bitcoin, you limit people's access to your privacy by how you use it and how careful you are. However, bitcoin still has flaws regarding security. If people want to know your identity they can trace your transactions and would results knowing where you cash it out hence knowing who you are.
So which service is more safe in this regard? Methinks, rank-and-file people don't have any opportunity whatever to trace fiat transactions made by the bank, while all Bitcoin transactions are traceable for the simple reason they are all in one ledger, the blockchain, readily available for anyone. On the flipside, though, bank transactions are totally transparent to authorities and whoever works for them.
Bitcoin is a great equalizer in this respect.
Having bitcoin instead of cash is just nice because you can make some nice amounts with it and its also that you can use it globally.
Another fact is that you can make profit with just holding it too!
It's really nice having both of them how can you make some cash when you don't have bitcoin yeah? of me it is really good when you have this two you can make or buy you want from internet and buy some foods physically i want to have this both when you are going to travel too yes bitcoin you make profit by holding it.Another fact is that you can make profit with just holding it too!
Yes, both of them : bitcoin and cash. Both has a specific uses and advantages. Bitcoin is usually used on online transaction, by any merchant who accepts it.Since it is a currency online, it has a broad uses and reach.
i like using bitcoin much insted of cash there are plenty of reasons some of them everyone know like milletry grade security and privacy but i like the most is its transparent network , anyone can see anyone's balance or anyone can sew fron where a user recived or sent their bitcoin which are not evwn possible in banks
Personally, I don't like the public seeing the complete balance on my wallet. Also, the feature of knowing where coins go and who receives them totally gives off who you really are. These can result in giving away your identity especially when cashing out bitcoins.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
Right! Banks do have a great problem with privacy. Since, everything can be accessed by people. Unlike in Bitcoin, you limit people's access to your privacy by how you use it and how careful you are. However, bitcoin still has flaws regarding security. If people want to know your identity they can trace your transactions and would results knowing where you cash it out hence knowing who you are.
Tracking only a single address would really take some time and what if that user used mixing service? For sure you cant trace him down whatever you would do. Thats the beauty of bitcoin for some people because they really like to hide their identities. I do agree with you, on fiat our money is on the banks which they would surely knew our identity especially when we do hold huge amounts.
i like using bitcoin much insted of cash there are plenty of reasons some of them everyone know like milletry grade security and privacy but i like the most is its transparent network , anyone can see anyone's balance or anyone can sew fron where a user recived or sent their bitcoin which are not evwn possible in banks
Personally, I don't like the public seeing the complete balance on my wallet. Also, the feature of knowing where coins go and who receives them totally gives off who you really are. These can result in giving away your identity especially when cashing out bitcoins.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
Right! Banks do have a great problem with privacy. Since, everything can be accessed by people. Unlike in Bitcoin, you limit people's access to your privacy by how you use it and how careful you are. However, bitcoin still has flaws regarding security. If people want to know your identity they can trace your transactions and would results knowing where you cash it out hence knowing who you are.
There are many things about bitcoin that makes it better than cash like it is decentralized so you have a full control over your coins, it is anonymous, has low fees and its volatile price that makes it a good long term investment. But it is not wise to have your money in bitcoins only. Your money should have a paper money and some bitcoins cause merchants who accepts bitcoin is limited, Supporting your daily needs with bitcoin will be hard.
Ome up side for cash, tho, is that transactions are confirmed instantly, which is crucial for certain cases, like supermarkets, gas stations, and such. We might be able to replace those types of services in the future and by then btc outwins cash 100%
i like using bitcoin much insted of cash there are plenty of reasons some of them everyone know like milletry grade security and privacy but i like the most is its transparent network , anyone can see anyone's balance or anyone can sew fron where a user recived or sent their bitcoin which are not evwn possible in banks
Personally, I don't like the public seeing the complete balance on my wallet. Also, the feature of knowing where coins go and who receives them totally gives off who you really are. These can result in giving away your identity especially when cashing out bitcoins.
Investing our money than saving in the bank is way better and by diversifying it, they would not notice how much is our worth.
i like using bitcoin much insted of cash there are plenty of reasons some of them everyone know like milletry grade security and privacy but i like the most is its transparent network , anyone can see anyone's balance or anyone can sew fron where a user recived or sent their bitcoin which are not evwn possible in banks
Personally, I don't like the public seeing the complete balance on my wallet. Also, the feature of knowing where coins go and who receives them totally gives off who you really are. These can result in giving away your identity especially when cashing out bitcoins.
One best part of bitcoin is also that it cannot be robbed by cash, we all know how the world is these days, if a thief comes to know you have a good amount of cash in your wallet he would probably do something to get you broke but if you have bitcoins you will be free from this thing which should be considered an advantage of it, the only thing is that it is not accepted everywhere yet.
Yes I agree that bitcoin is completely hidden and will not be visible to a common man and especially to robbers/thief. Bitcoins must be a right solution to save large amount of wealth. I believe, people in future will switch over to bitcoin instead of saving gold. That may be the reason we are calling it digital gold.
i like using bitcoin much insted of cash there are plenty of reasons some of them everyone know like milletry grade security and privacy but i like the most is its transparent network , anyone can see anyone's balance or anyone can sew fron where a user recived or sent their bitcoin which are not evwn possible in banks
One best part of bitcoin is also that it cannot be robbed by cash, we all know how the world is these days, if a thief comes to know you have a good amount of cash in your wallet he would probably do something to get you broke but if you have bitcoins you will be free from this thing which should be considered an advantage of it, the only thing is that it is not accepted everywhere yet.
Important reason why i will have bitcoin instead of cash because of the safety reasons that its not risky if i will store it to my online wallet instead of withdrawing it from my bank and put it all the cash in my pocket which is at risk of robbers. With regards to its safety reason its so convenient to cash out rather than card atm of a bank all you have is to withdraw it without a card and must have the transaction details of your wallet then you can withdraw using cardless atm machine transaction number and its code for withdrawal. I am glad that there's bitcoin that can make life easier and safe handling of amount of money.
i like using bitcoin much insted of cash there are plenty of reasons some of them everyone know like milletry grade security and privacy but i like the most is its transparent network , anyone can see anyone's balance or anyone can sew fron where a user recived or sent their bitcoin which are not evwn possible in banks
One best part of bitcoin is also that it cannot be robbed by cash, we all know how the world is these days, if a thief comes to know you have a good amount of cash in your wallet he would probably do something to get you broke but if you have bitcoins you will be free from this thing which should be considered an advantage of it, the only thing is that it is not accepted everywhere yet.
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