Topic: Why have Bitcoin instead of cash? - page 118. (Read 246148 times)
During my recent travel, I was able to carry around my Bitcoin debit card and use it anywhere in another country. It's again similar to owning a Forex card or a Credit card with cash, but the rates on this one were pretty low. I'd also find it beneficial for having Bitcoins cause of the low fees, transparency, ease of operation from your mobile device and for a better form of investment that you can use to gain better returns.
Cause bitcoin is all digital that's the beauty of bitcoin. Paper cash can get lost and stolen etc. Also bitcoin has such a fast transaction rate compared to some banks.
Also bitcoin has close to zero fees which really counts if you count up all the bank fees you've paid in your life.
Also bitcoin has close to zero fees which really counts if you count up all the bank fees you've paid in your life.
The only reason why you'll have Bitcoin instead of cash is because you're making money out of Bitcoin. You're investing your money in Bitcoins so you convert them into it. Bitcoin isn't essential in daily living, though. Cash would always be more appropriate whenever you're buying your daily needs and all the other stuffs. Bitcoins can only be used as an investment and as a way to pay people on the Internet.
I happily disagree with this point of view. Since I am a heavy user of bank payment cards myself (debit cards, to be precise), I can tell with perfect surety that these cards are much more convenient than cash for everyday expenses. Losing such a card doesn't mean losing any money, stealing it in the majority of cases is meaningless, and I can always get cash should such a need arise. Now that there are a bunch of Bitcoin payment cards issued by quite a few online wallets and exchanges, spending Bitcoin is as easy as it can possibly get (or even easier than that).
It is. But it is still different than those credit cards. There are some things that I dont like about that. Like annual fees and other stuffs that they charge without prior notice. You will have to go to the bank to know where this came from and I dont want to waste my time doing that.
The only reason why you'll have Bitcoin instead of cash is because you're making money out of Bitcoin. You're investing your money in Bitcoins so you convert them into it. Bitcoin isn't essential in daily living, though. Cash would always be more appropriate whenever you're buying your daily needs and all the other stuffs. Bitcoins can only be used as an investment and as a way to pay people on the Internet.
I happily disagree with this point of view. Since I am a heavy user of bank payment cards myself (debit cards, to be precise), I can tell with perfect surety that these cards are much more convenient than cash for everyday expenses. Losing such a card doesn't mean losing any money, stealing it in the majority of cases is meaningless, and I can always get cash should such a need arise. Now that there are a bunch of Bitcoin payment cards issued by quite a few online wallets and exchanges, spending Bitcoin is as easy as it can possibly get (or even easier than that).
The only reason why you'll have Bitcoin instead of cash is because you're making money out of Bitcoin. You're investing your money in Bitcoins so you convert them into it. Bitcoin isn't essential in daily living, though. Cash would always be more appropriate whenever you're buying your daily needs and all the other stuffs. Bitcoins can only be used as an investment and as a way to pay people on the Internet.
For me having bitcoin rather than cash just let's me feel like i got control back over something in my life that I can do myself instead of paying someone else (bank) to do it.
Banks does steal money from us. How? Well they use money that we deposited from them and use it to loan it to other people with high interest, after that they will give us little interest per yer, in which inflation will take place that will lower the buying power of our money saved, Lets not be outsmarted by greedy banks lets find other ways to save money.
Inflation doesn't happen because banks lend out money, but to say that they steal our money because they pay less interest than they get themselves through lending this money out is laughable at least. It is their business, and if you don't like it, no one urges you to deposit your precious bucks in a bank in the first place. Entrepreneurs that take loans from a bank to start or run a business should earn even a higher interest off their enterprise, but this doesn't mean that they are stealing from you implicitly or from the bank directly.
Honestly, I don't see your point here. How can placing money in a bank increase inflation? Could you please explain what you mean. Banks don't need deposits to lend out money anyway, since money can be created "out of thin air" by the banks. Strictly speaking, it is the Central bank behind private banks that does just that. The deposits of regular people cannot possibly boost up inflation. You, and those who think along the same lines as you, seem to be confusing something.
I do not believe that you should have all funds of your portfolio in btcs, and nothing in cash. Because, as you probably know, you still can't buy everything using cryptos in these days. You still need paper money, to use in your daily life.
If you are using a Bitcoin payment card which is linked to your Bitcoin wallet, you can basically buy everything using bitcoins nowadays just like you buy things with a typical bank card. Here's the comparison of the six major Bitcoin payment cards for anyone interested in the question.
Banks does steal money from us. How? Well they use money that we deposited from them and use it to loan it to other people with high interest, after that they will give us little interest per yer, in which inflation will take place that will lower the buying power of our money saved, Lets not be outsmarted by greedy banks lets find other ways to save money.
Inflation doesn't happen because banks lend out money, but to say that they steal our money because they pay less interest than they get themselves through lending this money out is laughable at least. It is their business, and if you don't like it, no one urges you to deposit your precious bucks in a bank in the first place. Entrepreneurs that take loans from a bank to start or run a business should earn even a higher interest off their enterprise, but this doesn't mean that they are stealing from you implicitly or from the bank directly.
Honestly, I don't see your point here. How can placing money in a bank increase inflation? Could you please explain what you mean. Banks don't need deposits to lend out money anyway, since money can be created "out of thin air" by the banks. Strictly speaking, it is the Central bank behind private banks that does just that. The deposits of regular people cannot possibly boost up inflation. You, and those who think along the same lines as you, seem to be confusing something.
I do not believe that you should have all funds of your portfolio in btcs, and nothing in cash. Because, as you probably know, you still can't buy everything using cryptos in these days. You still need paper money, to use in your daily life.
If you are using a Bitcoin payment card which is linked to your Bitcoin wallet, you can basically buy everything using bitcoins nowadays just like you buy things with a typical bank card. Here's the comparison of the six major Bitcoin payment cards for anyone interested in the question.
bitcoin is too safer and secure and its transaction is very faster and bitcoin transaction fees is very lower.
of course bitcoin is way safer, you dont have to give it to someone like banks to hold it and you are the master of your own bitcoinsThis is a very important argument of why I have bitcoin instead of cash. I want to be the owner of my money obviously and by putting it on the bank you are essentially borrowing it to the bank I don't like the sound and idea of that.
Also bitcoin is digital with low fees which is a big plus.
I do not believe that you should have all funds of your portfolio in btcs, and nothing in cash. Because, as you probably know, you still can't buy everything using cryptos in these days. You still need paper money, to use in your daily life.
There are different reasons that make bitcoin a better choice for the users. One of them is the ease of use. Another point is the efficiency to make transactions, which are really safe because of the blockchain technology.
I will use cash if I will be spending my money because it is easy to use it compared to bitcoin, on the other hand bitcoin is good if you will use it as investment so they have different usage and it only depends on the users of certain currency on what currency they are comfortable of using.
Cash is very easy to use and with cash we can buy anything we want as it is widely accepted and as a legal tender of the a certain country people would accept it, bitcoin is only good for investment.
There are different reasons that make bitcoin a better choice for the users. One of them is the ease of use. Another point is the efficiency to make transactions, which are really safe because of the blockchain technology.
Paper money you use mostly as a currency, unless you work in forex. But bitcoin is an currency and also investment, if you save it for the long term.
paper still needed especially when you go to a certain place that doesn't have electricity its impossible for you to any transactionthat's one of disadvantage of btc you can do anything without electricity.
Once bitcoin will have stable price, we may get physical bitcoin similar to paper money, who knows?
Paper money you use mostly as a currency, unless you work in forex. But bitcoin is an currency and also investment, if you save it for the long term.
paper still needed especially when you go to a certain place that doesn't have electricity its impossible for you to any transactionthat's one of disadvantage of btc you can do anything without electricity.
Once bitcoin will have stable price, we may get physical bitcoin similar to paper money, who knows?
Well having to use your BTC wallet can be handy as you won't bring any wallets, cards, or pocket money in order to pay, also you prevent it from losing money from loose pockets, having to pay the exact amount. Well everything would be benefitial but ofcourse it must be available for everybody in order to bring no extra cash.
You don't have to carry your regular wallet or card with you but you still need to somehow have access to your Bitcoins in order to make payments. This means you'll need to have your phone or some other electronic device with you. Not only that but if your battery dies or you're in an area where you don't have internet, you're stuck. Whereas paper money is not dependent on any of these things.
Well having to use your BTC wallet can be handy as you won't bring any wallets, cards, or pocket money in order to pay, also you prevent it from losing money from loose pockets, having to pay the exact amount. Well everything would be benefitial but ofcourse it must be available for everybody in order to bring no extra cash.
You don't have to carry your regular wallet or card with you but you still need to somehow have access to your Bitcoins in order to make payments. This means you'll need to have your phone or some other electronic device with you. Not only that but if your battery dies or you're in an area where you don't have internet, you're stuck. Whereas paper money is not dependent on any of these things.
Well having to use your BTC wallet can be handy as you won't bring any wallets, cards, or pocket money in order to pay, also you prevent it from losing money from loose pockets, having to pay the exact amount. Well everything would be benefitial but ofcourse it must be available for everybody in order to bring no extra cash.
You don't have to carry your regular wallet or card with you but you still need to somehow have access to your Bitcoins in order to make payments. This means you'll need to have your phone or some other electronic device with you. Not only that but if your battery dies or you're in an area where you don't have internet, you're stuck. Whereas paper money is not dependent on any of these things.
Paper money you use mostly as a currency, unless you work in forex. But bitcoin is an currency and also investment, if you save it for the long term.
paper still needed especially when you go to a certain place that doesn't have electricity its impossible for you to any transactionthat's one of disadvantage of btc you can do anything without electricity.
I have seen some very nice arguments in this thread. Most interesting thing for me is that banks cant steal money from us, I remined how much I give to my bank each month for credit cards, for my account, for transactions. They are taking from me more then 10 euros each month, and that is a lot for my salary, more then 5 %.
I would like to be my own bank, and I to have my money for me and not to give them money every month. That wouldn`t be such big deal, but they are so unkind when ever I go there. They are acting like I`m idiot and they sit there in nice suits, and womans are dressed very nice, with big nails haircuts. Well I`m getting sick in my stomach when I think about that.
Banks can't steal money from us? Ok, but if it gonna be bitcoin bank it will be totally the same system. And it is also possible to steal all of your bitcoins, cause of wallets and exchangers can't guarantee you total security.I would like to be my own bank, and I to have my money for me and not to give them money every month. That wouldn`t be such big deal, but they are so unkind when ever I go there. They are acting like I`m idiot and they sit there in nice suits, and womans are dressed very nice, with big nails haircuts. Well I`m getting sick in my stomach when I think about that.
Inflation doesn't happen because banks lend out money, but to say that they steal our money because they pay less interest than they get themselves through lending this money out is laughable at least. It is their business, and if you don't like it, no one urges you to deposit your precious bucks in a bank in the first place. Entrepreneurs that take loans from a bank to start or run a business should earn even a higher interest off their enterprise, but this doesn't mean that they are stealing from you implicitly or from the bank directly.
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