Why have Bitcoin instead of cash? - page 145.

Hazir

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Quote from: hermanhs09 on June 19, 2016, 02:46:19 AM

Because we are moving towards a cashless society. Currently we are already using credit cards at an ever increasing pace, however this is not enough. We need to have a trustless payment gateway.

And bitcoin offers exactly that, so that's why bitcoin is great.

While I agree with your statement about heading towards 'cashless society' but then, I doubt that bitcoin will be huge part of it.
Not that I wouldn't want it to be - but because people in charge won't allow it. Bitcoin is too hard to controll, too unstable and 'decentralized.

We will see more likely attempts of creating national coins than some country taking bitcoin as secondary legal payment method.

hermanhs09

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Because we are moving towards a cashless society. Currently we are already using credit cards at an ever increasing pace, however this is not enough. We need to have a trustless payment gateway.

And bitcoin offers exactly that, so that's why bitcoin is great.

Cyaren

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Quote from: co5hike on June 15, 2016, 10:19:18 AM

Bitcoin is an currency and also an investment, if you save your money in fiat then it will not grow over a period of time, but if you save money in bitcoin it can take your savings to higher level.

Yeah definitely. Cash is tied to the fiat monetary system which is unstable to say the least. While bitcoin is like virtual gold. It has no single organization controlling its supply or future.

That's why we're seeing an increased number of bitcoin users.

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Quote from: noormcs5 on June 18, 2016, 06:51:09 PM

Quote from: co5hike on June 15, 2016, 10:19:18 AM

Bitcoin is an currency and also an investment, if you save your money in fiat then it will not grow over a period of time, but if you save money in bitcoin it can take your savings to higher level.

Yes no other currency (Fiat or Digital) grows as fast as the bitcoins does. So having bitcoins only is also an investment for you. Its just like Gold investment but the turnover is greater for bitcoins as compared to gold.

Majority of the people here are talking about halving and they are only interested with their profit, but the reality is we can still enjoy bitcoins even if the price will began to be stable, the ease of doing online transactions is the most benefit we can get.

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Quote from: co5hike on June 15, 2016, 10:19:18 AM

Bitcoin is an currency and also an investment, if you save your money in fiat then it will not grow over a period of time, but if you save money in bitcoin it can take your savings to higher level.

Yes no other currency (Fiat or Digital) grows as fast as the bitcoins does. So having bitcoins only is also an investment for you. Its just like Gold investment but the turnover is greater for bitcoins as compared to gold.

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Quote from: Sled on June 15, 2016, 10:37:59 PM

Because i want to make some profit by choosing instead of cash because now the bitcoin halving event is coming so many of my friends told me that it's better to hold bitcoin than cash.

Right, I bought like a total of 1 bitcoins with cash last month and you know after the rice increase I am already rich, while if I had real cash no real increase would have been there.

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Quote from: DarkThrones on June 18, 2016, 01:58:40 AM

Cash and Bitcoin are very similar because they are both currencies. However, Bitcoin will rise in value much higher than the dollar could ever dream and so in this respect you want Bitcoin and not cash

Cash is physical where as bitcoin is digital, there are high chances of getting robbed when it comes to cash but same doesn't goes with bitcoin as its not easy to hack your coins.

Rizky Aditya

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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.

How is it more safe? If you get robbed on the street, you will lose all the money you had including some of the money you had on your credit cards, maybe even all of it. Whereas it is much harder to hack into someone's online wallet, that is if they have one is the first place. Most people use software and hardware wallets anyways.

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Cash and Bitcoin are very similar because they are both currencies. However, Bitcoin will rise in value much higher than the dollar could ever dream and so in this respect you want Bitcoin and not cash

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Quote from: el kaka22 on June 18, 2016, 01:38:12 AM

Quote from: co5hike on June 15, 2016, 10:19:18 AM

Bitcoin is an currency and also an investment, if you save your money in fiat then it will not grow over a period of time, but if you save money in bitcoin it can take your savings to higher level.

Exactly and you can spend bitcoins as easy as cash. So why have the dumb cash with you when you can have the bitcoins and have a chance ( which is a sure thing ) to increase your money.

dont compare cash and bitcoin because then you're just talking about physical and virtual currency its much different and with physical currency you don't need a wallet to start using money online

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Quote from: co5hike on June 15, 2016, 10:19:18 AM

Bitcoin is an currency and also an investment, if you save your money in fiat then it will not grow over a period of time, but if you save money in bitcoin it can take your savings to higher level.

Exactly and you can spend bitcoins as easy as cash. So why have the dumb cash with you when you can have the bitcoins and have a chance ( which is a sure thing ) to increase your money.

lissandra

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The only real reason anyone should be with bitcoin is because of what happened to greece.

Having true control over your money and moving it whenever as possible regardless if their own country goes bad is a huge power tool for anyone in a bad country.

worhiper_-_

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To be honest. i find myself in a similar awkward situation from times to times. but now i am over it.
You are absolutely right.
If what i sell has a worth of 130 euros and it costs 1 bit coin. it would be clever to actually invest it in the future.. since you can make x3 the money you were supposed to get! or actually get really unlucky and go minus. but i doubt it. i believe bitcoin is thriving right now so i doubt it if it goes minus at this point

extrabyte

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I consider bitcoin more secure to make payment which are pretty fast and many other things comparing with cash. But to secure the bitcoin first we should have a secure environment (clean pc/mobile etc), also it is partly anonymous (not completely), seeing the huge increase of the price recently we can consider bitcoin as a good way of investment.

Adrayrd

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If you are using the bitcoin you can use it globally in the world no limitations with cash there is.
Plus what the fact also is is that you can never lose the bitcoin and you always have it on your mobile if you have one of course..

Adrorecia

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Well bitcoin is at first sight a lot safer because you cannot get robbed easily for it and the fact is also that you cannot lose it on a place.
Another nice thing is that you can almost not lose it.

jupiterdianysa

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Since 2 days ive been trying to send some amount of money from my paypal account to bank account. Any trial rejected costed me some amounts as fee.. Thats very unfair, ive nothing to do with this process but still they keep on meltin(stealing actually) my money slowly like that. Thats why id prefer bitcoin, blockchain doesnt fool you at least!

Skaven

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At the moment I would still choose cash before Bitcoin because you can do much more with it and buy more stuff with cash. Maybe in the future the Bitcoins is going to be better but they still have a couple of years to make that happen.

apriyoni

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Quote from: Hatuferu on June 16, 2016, 02:03:05 AM

Quote from: clickerz on June 15, 2016, 10:45:06 PM

Quote from: Ardenyham on June 15, 2016, 10:16:20 AM

Quote from: Lokfar on June 13, 2016, 11:05:58 AM

Bitcoin will be the future money and that is because the world is also getting more digital and that is perfect for the currency itself because it will be also more used.
But it is hard to know what is going to happen with Bitcoin itself and there are also still a lot of people that is using some cash.

Almost everyone using cash. and peoples who are using bitcoin they are also using cash. because bitcoin has not that much usable in economy.. but having bitcoin instead of cash still have some benefit and positive things.
like:
1: bitcoin is a investment itself you just need to collect it and hold it for future and it will give you profite.

2: bitcoin can be more secured then cash. you can control your bitcoin yourself and don't need a banks help.

3: Transaction is very easy, you can send and receive bitcoin to/from everywhere in the world in just few seconds.

And I may add that bitcoin is handy in dealing transaction online. Especially in buying digital goods. Besides the charge is cheaper compared to other currency.

Yeah, in the future majority of merchants will go online because the market is high and the maintenance or expense will be lowered for them in operating the business.

In the future, there will be more usage of bitcoin in online business. The price will rise with its adoption.

Hatuferu

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Quote from: clickerz on June 15, 2016, 10:45:06 PM

Quote from: Ardenyham on June 15, 2016, 10:16:20 AM

Quote from: Lokfar on June 13, 2016, 11:05:58 AM

Bitcoin will be the future money and that is because the world is also getting more digital and that is perfect for the currency itself because it will be also more used.
But it is hard to know what is going to happen with Bitcoin itself and there are also still a lot of people that is using some cash.

Almost everyone using cash. and peoples who are using bitcoin they are also using cash. because bitcoin has not that much usable in economy.. but having bitcoin instead of cash still have some benefit and positive things.
like:
1: bitcoin is a investment itself you just need to collect it and hold it for future and it will give you profite.

2: bitcoin can be more secured then cash. you can control your bitcoin yourself and don't need a banks help.

3: Transaction is very easy, you can send and receive bitcoin to/from everywhere in the world in just few seconds.

And I may add that bitcoin is handy in dealing transaction online. Especially in buying digital goods. Besides the charge is cheaper compared to other currency.

Yeah, in the future majority of merchants will go online because the market is high and the maintenance or expense will be lowered for them in operating the business.

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