Why have Bitcoin instead of cash? - page 171.

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Quote from: knowhow on July 29, 2015, 05:56:14 PM

own 100 dollars today ,100 euros today can be worthing 80 euros as can be worthing 120 dollars,soo there is some conversion rate that makes those currencys worth more or less,100usd/100eur converted in bitcoins can be and became 200 dollars in short time can get value and is very hard to loose a big ammount to those currencys eur,usd or other..with those others currencys it wont happen a double worth or 50% value.

It's funny how people always complain about Bitcoins volatility when we are going down. We've been in a uptrend for the last month or so and people has stopped magically complaining about volatility.
At the end of the day you aren't losing money, you just go through periods of up and downs vs the stable price of fiats.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: NorrisK on July 08, 2015, 02:47:21 AM

Quote from: BIT-Sharon on July 08, 2015, 02:33:37 AM

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

Very good point! This basically allows you to bring more than 10k in "cash" around the glob in your pocket without customs having a chance to find out.. Can potentially be problematic though, helping illegal transactions.

To be honest, this is the biggest advantage of bitcoin. Nothing else ever mentioned above comes this close.

But, on the other hand yeah, it is also shady people's favourite.

SebastianJu

legendary

Activity: 2674

Merit: 1083

Legendary Escrow Service - Tip Jar in Profile

Quote from: Miracal on July 31, 2015, 07:54:50 AM

Quote from: damiano on July 29, 2015, 01:46:58 PM

Being my own savings bank and not having the risk of having it stacked under my mattress is one reason why Bitcoin instead of cash, send bitcoin anywhere in the world or off world if they have a internet connection in just a moment.

If the things I need fiat for can be paid with bitcoin I will go all in on bitcoin without a doubt!

However fancy it sounds, I will only move from fiat to btc when btc is more stable. I don't mind paying with btc, I don't mind receiving money like that. The only thing I mind is keeping ALL of my savings as btc, because if btc crashes somehow, it will create very negative situations for me to handle. And the chances of bitcoin crashing is much more than my bank turning against me, atleast right now.

Exactly. Believing in the success of bitcoins is one thing. Making sane business decisions is the other. And sometimes you need to sell your bitcoins when you are sure that they will drop significantly. I mean who is ready to lose 25% of his wealth each month, like it was the case in the last year. Sometimes even 25% on a day. Holding when you anticipate that would simply be stupid. Regardless of how you think about bitcoins.

Learning to put everything on the table is something i had to learn the hard way too. Tongue

Miracal

sr. member

Activity: 350

Merit: 250

Quote from: damiano on July 29, 2015, 01:46:58 PM

Being my own savings bank and not having the risk of having it stacked under my mattress is one reason why Bitcoin instead of cash, send bitcoin anywhere in the world or off world if they have a internet connection in just a moment.

If the things I need fiat for can be paid with bitcoin I will go all in on bitcoin without a doubt!

However fancy it sounds, I will only move from fiat to btc when btc is more stable. I don't mind paying with btc, I don't mind receiving money like that. The only thing I mind is keeping ALL of my savings as btc, because if btc crashes somehow, it will create very negative situations for me to handle. And the chances of bitcoin crashing is much more than my bank turning against me, atleast right now.

knowhow

hero member

Activity: 560

Merit: 500

Quote from: errornone on July 29, 2015, 06:05:12 PM

Quote from: knowhow on July 29, 2015, 05:56:14 PM

own 100 dollars today ,100 euros today can be worthing 80 euros as can be worthing 120 dollars,soo there is some conversion rate that makes those currencys worth more or less,100usd/100eur converted in bitcoins can be and became 200 dollars in short time can get value and is very hard to loose a big ammount to those currencys eur,usd or other..with those others currencys it wont happen a double worth or 50% value.

and you can lose 50% too! Risk has two ways! up or down!

yes thats one option that we need to consider as well but bitcoin is the best ,and i doubt you will find it lower than 200 dollars from the next years

wearepoor

hero member

Activity: 784

Merit: 500

Quote from: g1974ak on July 29, 2015, 08:16:01 AM

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.

Someone must have bitcoin instead of cash only if believe that bitcoin is an investment and its value will increase in time. For this bitcoin must not be spent but save in the wallet and possibly bought from time to time to have more.

Yes people hesitate in spending bitcoins as they view it as an future investment, while cash is not an investment, people would freely spend if they hold fiat, but when it comes to bitcoins they would think twice before spending it as its value gonna be much more in the future.

errornone

member

Activity: 98

Merit: 10

error

Quote from: knowhow on July 29, 2015, 05:56:14 PM

own 100 dollars today ,100 euros today can be worthing 80 euros as can be worthing 120 dollars,soo there is some conversion rate that makes those currencys worth more or less,100usd/100eur converted in bitcoins can be and became 200 dollars in short time can get value and is very hard to loose a big ammount to those currencys eur,usd or other..with those others currencys it wont happen a double worth or 50% value.

and you can lose 50% too! Risk has two ways! up or down!

knowhow

hero member

Activity: 560

Merit: 500

own 100 dollars today ,100 euros today can be worthing 80 euros as can be worthing 120 dollars,soo there is some conversion rate that makes those currencys worth more or less,100usd/100eur converted in bitcoins can be and became 200 dollars in short time can get value and is very hard to loose a big ammount to those currencys eur,usd or other..with those others currencys it wont happen a double worth or 50% value.

errornone

member

Activity: 98

Merit: 10

error

answering the topic, 'you' should diversify your portfolio. Dollars, Euros, companies/shares, Bitcoin, Monero, etc etc. You should have them all.

never keep all your eggs in one basket.

errornone

member

Activity: 98

Merit: 10

error

Quote from: manselr on July 29, 2015, 01:36:46 PM

Quote from: errornone on July 29, 2015, 01:13:26 PM

Quote from: Kazimir on July 08, 2015, 06:25:37 AM

8) Bitcoins can be password protected. When someone steals your wallet with cash, it's gone. When someone steals your wallet with bitcoins, they can see how much is in there, but they can't spend a dime.

are you talking about bip38?

BIP38 gives you the ability to add a password in your paperwallets, but every software wallet out there gives you the posibility to encrypt it with a password. Bitcoin Core is not encrypted by default by some reason (it should ask you to put a prompt when you fire it for the first time).

yes, but i think he was talking about bip38.

damiano

legendary

Activity: 1246

Merit: 1000

103 days, 21 hours and 10 minutes.

Being my own savings bank and not having the risk of having it stacked under my mattress is one reason why Bitcoin instead of cash, send bitcoin anywhere in the world or off world if they have a internet connection in just a moment.

If the things I need fiat for can be paid with bitcoin I will go all in on bitcoin without a doubt!

manselr

legendary

Activity: 868

Merit: 1006

Quote from: errornone on July 29, 2015, 01:13:26 PM

Quote from: Kazimir on July 08, 2015, 06:25:37 AM

8) Bitcoins can be password protected. When someone steals your wallet with cash, it's gone. When someone steals your wallet with bitcoins, they can see how much is in there, but they can't spend a dime.

are you talking about bip38?

BIP38 gives you the ability to add a password in your paperwallets, but every software wallet out there gives you the posibility to encrypt it with a password. Bitcoin Core is not encrypted by default by some reason (it should ask you to put a prompt when you fire it for the first time).

errornone

member

Activity: 98

Merit: 10

error

Quote from: Kazimir on July 08, 2015, 06:25:37 AM

8) Bitcoins can be password protected. When someone steals your wallet with cash, it's gone. When someone steals your wallet with bitcoins, they can see how much is in there, but they can't spend a dime.

are you talking about bip38?

g1974ak

newbie

Activity: 14

Merit: 0

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.

Someone must have bitcoin instead of cash only if believe that bitcoin is an investment and its value will increase in time. For this bitcoin must not be spent but save in the wallet and possibly bought from time to time to have more.

n2004al

legendary

Activity: 1134

Merit: 1000

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.

For me is a big mistake to pay with bitcoin. People must pay in the money they have profits. So with the money they will be paid. If they will paid in another money (bitcoin for example) they will lost the money they don't have profits and this is a mistake if we consider every kind of money an investment on itself. If I will be paid in us dollar i must pay in us dollar. If I have profits in bitcoin I can pay in bitcoin. To not speak here about the hope that bitcoin will increase in value and spent bitcoin in such case is a secure lost.

faridkifly

sr. member

Activity: 294

Merit: 250

Bitcoin is "virtual", but cash is "real"
So, cash have bigger chance of get lost than bitcoin I think(if you're save bitcoin on paper wallet/offline wallet)

randy8777

legendary

Activity: 896

Merit: 1000

no doubt it is far superior than any other currently existing fiat currency, but only a small amount of people realize that. but it takes time i guess to see more people using bitcoin.

Falconer

legendary

Activity: 2506

Merit: 1125

Quote from: titibach on July 28, 2015, 09:09:28 AM

It is same concept like why using debit card and not using cash.. It absolutel will get more safety if we didnt get alot cash money when walking around the street.
And with btc you can do more transaction in a minute than transaction with cash...

Debit card is be legalized by government everywhere, but not to bitcoin. Some countries ban it, so rarely there are shops that accept bitcoin in payment like my country.

titibach

hero member

Activity: 560

Merit: 500

It is same concept like why using debit card and not using cash.. It absolutel will get more safety if we didnt get alot cash money when walking around the street.
And with btc you can do more transaction in a minute than transaction with cash...

HeroCat

hero member

Activity: 658

Merit: 500

BTC you can put in your own wallet and fast transaction times, so you can buy something very fast. Wink

Topic: Why have Bitcoin instead of cash? - page 171. (Read 246148 times)