Why have Bitcoin instead of cash? - page 104.

jossiel

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Quote from: Distinctin on November 03, 2016, 02:57:23 PM

Quote from: seven2smoke on November 03, 2016, 01:04:21 PM

Why have bitcoin instead of real money simply because it is easier to use and more safe than any other bank accounts who steals your money for every transaction plus bitcoin has more value.

the main reason for holding the bitcoin is that it holds value in the long term, that is different from fiat.

Fiat will be just simply remain fiat and doesn't have a chance to get some profit as the day goes by.

Unlike bitcoin, it is have a chance to get some profit as the time goes by because the value of bitcoin is getting higher as it is.

And it is more convenient using it rather cash because you are secured with it.

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Quote from: seven2smoke on November 03, 2016, 01:04:21 PM

Why have bitcoin instead of real money simply because it is easier to use and more safe than any other bank accounts who steals your money for every transaction plus bitcoin has more value.

the main reason for holding the bitcoin is that it holds value in the long term, that is different from fiat.

Aamir1

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Quote from: mastica on November 03, 2016, 12:09:42 PM

The huge advantages at bitcoin against any other currency are the low fees cost transactions as well the potencial power to gain healty in the shorte time, the volatility does makes bitcoin be the best option to save as well to invest.

Saving in bitcoin is already a form of investment i guess as you mentioned as well that it has got the potential to grow higher gradually with the time which makes you savings grow also, and that is a big reason why all the users here are having bitcoins instead of cash.

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Why have bitcoin instead of real money simply because it is easier to use and more safe than any other bank accounts who steals your money for every transaction plus bitcoin has more value.

mastica

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The huge advantages at bitcoin against any other currency are the low fees cost transactions as well the potencial power to gain healty in the shorte time, the volatility does makes bitcoin be the best option to save as well to invest.

tee-rex

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Quote from: BossMacko on November 03, 2016, 01:19:01 AM

With Bitcoin you can grow your money just by holding it or selling it when you think price of Bitcoin is high and it is not possible with flat money. Also Bitcoin is better to use in online shop because of it's instant transactions. It is easy to send or received Bitcoin from other people unlike if you use flat money.

It is possible with fiat in exactly the same manner as with Bitcoin. You buy dollars with the euro, or buy euros with the dollar, and wait untill the exchange rate moves in your favor. When the price touches your take-profit limit, you sell what you bought and book profits. Then rinse and repeat. As you can see, the process is pretty much the same.

BossMacko

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With Bitcoin you can grow your money just by holding it or selling it when you think price of Bitcoin is high and it is not possible with flat money. Also Bitcoin is better to use in online shop because of it's instant transactions. It is easy to send or received Bitcoin from other people unlike if you use flat money.

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Quote from: BTCfan97 on July 08, 2015, 02:10:49 AM

I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.

1) More security (especially if you are careful).

2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.

3) Fast, worldwide transactions at your fingertips.

4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.

actually we can tell another reason if having bitcoin instead of cash , we have a better fascility of transaction money from one country to another without paying charge More than 2% .
usually more than 8% charge is subjected during send but with use of bitcoin it is best to pay less then 2% .

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Quote from: Vaoric on November 02, 2016, 08:43:42 PM

Having bitcoins is pretty nice and its also safer than normal cash if you are asking me, I think that its just way better to use also due to the point you can use it globally everywhere on the freaking world what is pretty nice.

Good to know that you are enjoying bitcoins mate. I'm also enjoying bitcoins instead of cash because it's so flexible where you can save and make profit out of it. You cannot do it using cash, instead you're going to spend it in some things you don't really use and bitcoins is much safer than cash.

Vaoric

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Having bitcoins is pretty nice and its also safer than normal cash if you are asking me, I think that its just way better to use also due to the point you can use it globally everywhere on the freaking world what is pretty nice.

singularityisnear

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Probably the best thing is the ability to transfer money with more flexibility, without many complications, and without relying on central authorities, given the fact that it is a decentralized network.

tee-rex

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Quote from: 1Referee on October 31, 2016, 05:09:32 AM

Quote from: Doamader on October 30, 2016, 02:31:08 PM

the low cost transactions

If you would use Bitcoin on a daily basis like you are doing with fiat right now, then you will notice the impact of the "low cost" transactions. On average the fee that people include with their transactions is $0.05-$0.10. If you compare that to the free transactions you are enjoying in your local area when paying with cash money or your bank card, then you'll see and notice the difference

If Bitcoin value should grow the dollar value of Bitcoin transaction fee should increase too. Apart from that, many banks are offering bank card cashbacks for purchases made with their cards, and, basically, you are paid a certain percentage on the amount of certain transactions, for example, when you go shopping in malls and supermarkets.

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Quote from: freedomgo on October 31, 2016, 08:48:40 AM

Quote from: gabmen on October 31, 2016, 06:20:16 AM

Quote from: Mastsetad on October 31, 2016, 03:57:21 AM

Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day, besides the low cost transactions, and plenty control of our money.

I would really like to agree with your first point, because i have just seen it yesterday when the price have grown more than $20 in just 24 hours, so if we have bitcoins that is the biggest advantage, our money is just growing.

Well that would be applicable for savings and investments because as you've said btc is moving and it's actually moving in a good way recently. Though for everyday life we still would need cash one way or another.

The thing is bitcoin is good for both a currency and as an investment, and if you are planning to buy bitcoins, now is the right time since the price is skyrocketing and I believe it will continue with the trend. You can have cash also to take care for your daily needs as not all things can be bought using our bitcoins.

I agree, the advantage of bitcoin lies within how it is used at this point. Bitcoin is great for investment because of the high volatility of its price. It is also a good form of currency to use in online transaction because of the ability to be send to any part of the world with low fee. Though the only concern is confirmation, but i know it will be fix soon.

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Quote from: gabmen on October 31, 2016, 06:20:16 AM

Quote from: Mastsetad on October 31, 2016, 03:57:21 AM

Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day, besides the low cost transactions, and plenty control of our money.

I would really like to agree with your first point, because i have just seen it yesterday when the price have grown more than $20 in just 24 hours, so if we have bitcoins that is the biggest advantage, our money is just growing.

Well that would be applicable for savings and investments because as you've said btc is moving and it's actually moving in a good way recently. Though for everyday life we still would need cash one way or another.

The thing is bitcoin is good for both a currency and as an investment, and if you are planning to buy bitcoins, now is the right time since the price is skyrocketing and I believe it will continue with the trend. You can have cash also to take care for your daily needs as not all things can be bought using our bitcoins.

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Quote from: Mastsetad on October 31, 2016, 03:57:21 AM

Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day, besides the low cost transactions, and plenty control of our money.

I would really like to agree with your first point, because i have just seen it yesterday when the price have grown more than $20 in just 24 hours, so if we have bitcoins that is the biggest advantage, our money is just growing.

Well that would be applicable for savings and investments because as you've said btc is moving and it's actually moving in a good way recently. Though for everyday life we still would need cash one way or another.

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Because it's fast and partly anonymous. However, it would not help us right now because it's not popular. Using only Bitcoin may work in some countries or cities but here it would be useless except for a few websites that accept it.

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Quote from: iv4n on October 31, 2016, 04:03:41 AM

Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day, besides the low cost transactions, and plenty control of our money.

Yes you are right, and that is called "investment for the future". That is great for people who hodl coins for years, and they plan to continue to that for who knows how many years. Low cost of transactions and better control are advantages over the fiat, and I think for ecology is much better for everyone to transfer on digital currencies, one day this will happen.
They will never end fiat counterfeiting, and that is big flaw of the fiat. Bitcoin doesn't have that kind of problems and I think this will be one of the main reasons why will world stop to use fiat one day.

I see it investment for today, we are in the stage that bitcoin is not yet stable and there's more room to grow therefore it can be called as investment more than a currency. I am actually amazed that bitcoin is not only for single purpose of transaction but more on investment and every investment when it succeeds will bring us money.

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Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day

When you look at the potential positive impact of the price going up, you also have to look and mention the fact that the price can go down real hard. If you only look at the benefits and not at what risk you are exposing yourself to, then you're doing something wrong. Especially when you just assume the price will go only up. Exactly this is where a lot people go wrong.

Quote from: Doamader on October 30, 2016, 02:31:08 PM

the low cost transactions

If you would use Bitcoin on a daily basis like you are doing with fiat right now, then you will notice the impact of the "low cost" transactions. On average the fee that people include with their transactions is $0.05-$0.10. If you compare that to the free transactions you are enjoying in your local area when paying with cash money or your bank card, then you'll see and notice the difference.

Quote from: Doamader on October 30, 2016, 02:31:08 PM

plenty control of our money.

If you have everything in your own wallet, and not in an online wallet service, then that's exactly the case.

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Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day, besides the low cost transactions, and plenty control of our money.

Yes you are right, and that is called "investment for the future". That is great for people who hodl coins for years, and they plan to continue to that for who knows how many years. Low cost of transactions and better control are advantages over the fiat, and I think for ecology is much better for everyone to transfer on digital currencies, one day this will happen.
They will never end fiat counterfeiting, and that is big flaw of the fiat. Bitcoin doesn't have that kind of problems and I think this will be one of the main reasons why will world stop to use fiat one day.

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Quote from: Doamader on October 30, 2016, 02:31:08 PM

I may say the big advantage of having bitcoin agaisnt the cash, is the huge possibility that our bitcoins be worthing much more on the other day, besides the low cost transactions, and plenty control of our money.

I would really like to agree with your first point, because i have just seen it yesterday when the price have grown more than $20 in just 24 hours, so if we have bitcoins that is the biggest advantage, our money is just growing.

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