Why have Bitcoin instead of cash? - page 174.

Hazir

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I would like to answer some of your points Op:

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

Security is not really the issue. FIAT is the same as bitcoin here both could be stolen, not really great difference with proper handling.

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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.

Bitcoin could be a potential investment, that is right. But you need to remember that you could also lose money that way.

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3) Fast, worldwide transactions at your fingertips.

Yes. But with people using bitcoin only. As for now system and is limited so that is only a theory, as for example none of my friends are using bitcoin yet.

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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.

Again, in theory you are right, but for now having bitcoins is similar to situation when you have some rare currency, say, from Africa and you go to your local currency exchange and they don't accept that currency - that is the problem bitcoin is having now.

Amph

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Quote from: SebastianJu on July 15, 2015, 01:02:01 PM

Quote from: Amph on July 14, 2015, 02:23:28 AM

Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

cash can also be faked pretty easily, and you will not even notice it, bitcoin do not have this problem

sometime when i pay with cash at the supermarket i fear that i'm giving false money, because maybe part of those belongs to a rest of another supermarket or another shop that was holding faked money without knowing it

*lol* I bought something against that some years ago. Maybe you need something like it too then: Safescan 155i Cheesy

It works great and feels safe if you need to check money.

The problem with faked money is that, when you have such, they will take it from you and you get nothing in return. Hearns plans for tainting coins could have a similar effect when he gets his will.

100 euro for that thing, better to spend in a trezonr i guess Cheesy

yeah but the big problem is not the seized aspect of it, but the fact that they will ask you from where you found those faked money

and if you can't give them a suitable and convincing answer you can go to jail for having counterfeit money, so it's a very problematic and dangerous thing

SebastianJu

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Quote from: lorylore on July 14, 2015, 02:54:37 PM

Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

I can just imagine paying at the airport for the flight and waiting for the confirmation(like the stress test that was).
I would lost the flight until the confirmation lol

Yeah... though hopefully the airport will use a 0 conf-service like bitinstant.com or similar services. Or they accept directly when they see the confirmation.

What i wonder is, how does bitinstant deal with confirmations that dont go through nowadays? I mean they would see the transaction, they would mark the item as paid but at the end the transaction wont go through.

torrentheaven

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Quote from: bornil267645 on July 08, 2015, 03:05:26 AM

The way I see it, Bitcoin gives us the true freedom of currency. We are not dependent upon any system to use our money. So it basically is and always will be BTCFREEDOMBTC

Yes freedom plus privacy factors attached to bitcoins makes it more attractive. And when it comes to spending you will spend less bitcoins as compared to cash as you view bitcoins as a investment tool and want to secure it for the future So the rate of Saving bitcoins would be more as compared to that of physical cash.

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Quote from: pitham1 on July 14, 2015, 02:23:27 PM

Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

Why bother with usbsticks and encrypted files when you can have a brain wallet? Wink

Youre right. Some words written in a document. Only you know what its worth. Though if you really criminal you would need to hide even the document since an agency could try build privkeys from all combinations.

But in theory bitcoin will outplay all these financial controls. Or lets say altcoins.

SebastianJu

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Quote from: Amph on July 14, 2015, 02:23:28 AM

Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

cash can also be faked pretty easily, and you will not even notice it, bitcoin do not have this problem

sometime when i pay with cash at the supermarket i fear that i'm giving false money, because maybe part of those belongs to a rest of another supermarket or another shop that was holding faked money without knowing it

*lol* I bought something against that some years ago. Maybe you need something like it too then: Safescan 155i Cheesy

It works great and feels safe if you need to check money.

The problem with faked money is that, when you have such, they will take it from you and you get nothing in return. Hearns plans for tainting coins could have a similar effect when he gets his will.

Jesu

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Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

That's all true, but the powers that be might step up their game in trying to look for this stuff as hard as it will be, but this is one reason they might because it is so easy to transport or launder money with bitcoin but that's something they're going to have to try work out to police. Good luck to them Grin

.

wlefever

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Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

I like this reason the most!

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

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.

Quote from: Kazimir on July 08, 2015, 02:28:36 AM

5) Banks can't steal it from you. You may think they can't steal cash either; that's not true. With central banks printing money by the hundreds of billions, and commercial banks creating money as debt like there's no tomorrow, they're effectively lowering the relative worth of your money in their advantage. Remember: stealing 5% off your deposit, or increasing the total money supply by 5% by creating it out of thin air, has essentially the same effect.

Quote from: NyeFe on July 08, 2015, 03:25:13 AM

6) Bitcoin can be in virtual and physical state simultaneously without the need for conversion I.e. online wallets and, for example, PaperSafe

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

7) Bitcoins can be backed up. When you lose a wallet with cash, it's gone. When you lose a wallet with bitcoins, you still have a backup.

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.

Quote from: Soros Shorts on July 08, 2015, 07:02:40 AM

9) It is far easier to carry 500 BTC with you on a plane than 500 BTC worth of cash.

And, of course these bulletined items make up the main benefits of Bitcoin over cash. As someone who has lost a wallet more than one time (with cash) as well as had an apartment broken into and all the cash stolen I can appreciate the password protected and back up feature of Bitcoin feature. But also for storing, and carrying larger amounts of money it is far easier like mentioned above to carry 500 BTC on a plane than $146,225 at today's rate of 1 BTC = $292.45.

cellard

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Quote from: greBit on July 14, 2015, 12:25:56 AM

Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

Wow, that is an answer I would expect from a 6 year old Tongue

You know paper money can be exchanged from the bank, you can get a new note if you want. Most of the cash is not stored in the banks, but it is only crunching of numbers which is transferred everyday between. All the paper money which comes inside bank, goes outside the same way. It doesn't leave the bank any other way.

Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

Bitcoin has already been attached to so many money laundering crimes, I swear. And also, a person doesn't even need to hide their usb stick. And transactions can happen through sms also, so fuck a usb stick. No suspicion, you can always carry a mobile phone anywhere you want. Haha.

I think you are a bit delusional if you think the paper you get from banks is freshly printed. Correct me if im wrong but the cash you get outside ATMs are always re-used from other people and not newly printed.

Zorrocoin

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Quote from: Miracal on July 14, 2015, 03:00:24 AM

Quote from: Amph on July 14, 2015, 02:23:28 AM

Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

cash can also be faked pretty easily, and you will not even notice it, bitcoin do not have this problem

sometime when i pay with cash at the supermarket i fear that i'm giving false money, because maybe part of those belongs to a rest of another supermarket or another shop that was holding faked money without knowing it

There are a lot of ways to check if a note is original or not. It depends on your currency, and there are particular things to be noted. An easy way is to check the texture of the paper, notice the thickness of the bill and compare the bill with another of the same denomination and series. Inspect the print quality, look at the body and observe the portrait. Hold the note in the air and check for watermark. If you are in US, don't worry less than 0.01$ of currency is counterfeited money because of the great print of the bills, its not easy to duplicate.

But it is such a long and annoying process, it is better to use bitcoin for such situations and there are many situations in which people fail to differentiate both the bills because of the close resemblance. It is so much easier to use bitcoin. Saves time, hard work and also doesn't have to make us worry about the untrustworthy bitches.

0xF6487E

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Quote from: bornil267645 on July 08, 2015, 03:05:26 AM

The way I see it, Bitcoin gives us the true freedom of currency. We are not dependent upon any system to use our money. So it basically is and always will be BTCFREEDOMBTC

Sorry to be a stick in the mud, but the Thai Baht (฿) is sometimes used to represent Bitcoin, but this certainly raises a problem of differenciation between the Thai Baht and Bitcoin.

https://medium.com/down-the-hashrabbit-hole/to-or-not-to-4e952961f41
http://bitcoinsymbol.org/

lorylore

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Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

I can just imagine paying at the airport for the flight and waiting for the confirmation(like the stress test that was).
I would lost the flight until the confirmation lol

pitham1

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Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

Why bother with usbsticks and encrypted files when you can have a brain wallet? Wink

Miracal

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Quote from: Amph on July 14, 2015, 02:23:28 AM

Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

cash can also be faked pretty easily, and you will not even notice it, bitcoin do not have this problem

sometime when i pay with cash at the supermarket i fear that i'm giving false money, because maybe part of those belongs to a rest of another supermarket or another shop that was holding faked money without knowing it

There are a lot of ways to check if a note is original or not. It depends on your currency, and there are particular things to be noted. An easy way is to check the texture of the paper, notice the thickness of the bill and compare the bill with another of the same denomination and series. Inspect the print quality, look at the body and observe the portrait. Hold the note in the air and check for watermark. If you are in US, don't worry less than 0.01$ of currency is counterfeited money because of the great print of the bills, its not easy to duplicate.

Amph

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Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

cash can also be faked pretty easily, and you will not even notice it, bitcoin do not have this problem

sometime when i pay with cash at the supermarket i fear that i'm giving false money, because maybe part of those belongs to a rest of another supermarket or another shop that was holding faked money without knowing it

greBit

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Quote from: orsotheysaid on July 13, 2015, 07:03:45 PM

Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

Wow, that is an answer I would expect from a 6 year old Tongue

You know paper money can be exchanged from the bank, you can get a new note if you want. Most of the cash is not stored in the banks, but it is only crunching of numbers which is transferred everyday between. All the paper money which comes inside bank, goes outside the same way. It doesn't leave the bank any other way.

Quote from: SebastianJu on July 13, 2015, 04:38:13 PM

I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

Bitcoin has already been attached to so many money laundering crimes, I swear. And also, a person doesn't even need to hide their usb stick. And transactions can happen through sms also, so fuck a usb stick. No suspicion, you can always carry a mobile phone anywhere you want. Haha.

freeyourmind

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Quote from: Amph on July 08, 2015, 06:51:44 AM

Quote from: Hopalong on July 08, 2015, 05:58:23 AM

Quote from: Amph on July 08, 2015, 03:43:08 AM

cash are not that easy to use in different countries, you need to exchange them everytime, a pain in the ass, bitcoin is a global currency, and very easy too move also

and cannot be faked like cash so easily, add on top of this, the less fees required...

I can use my mastercard in a lot of contries without even knowing what currency they have.

we are talking about cash not electronic money, also your other issue is the withdrawal limit on basically any atm, you know that with your master card you cannot withdrawn more than a certain amount, with bitcoin there are no restriction of any sort

yes you can use your mastercard but they will charge you a great fee for conversion, with bitcoin you don't need to convert in the local currency because bitcoin works globally

Ideally Mastercard and Visa should be convenient to use when traveling, and being charged a fee for currency exchange without having to do it yourself. It has been hit or miss though from my traveling experience. Sometimes it's been seamless, and other times, I got into situations where I couldn't use my credit card or debit card because it was locked down by loss prevention, even though I alerted the bank and CC company of my travel plans. Would be great to use bitcoin for travel when it's more widely accepted.

orsotheysaid

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Cash is dirty and full of bacteria, bitcoin is digital clean and doesn't rot.

SebastianJu

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I only now thought about that all the currency controls at airports are completely useless when it comes to bitcoin. Till now people tried to hide cash in clothes, use diamonds or something, now they have a usbstick with an image that has a tiny encrypted file inside that contains a private key. Its so absolutely hideable that its funny when they would try to search someone. I mean all these controls would go to waste. You can hide a small file or even some signs everywhere.

In a sense bitcoin is awesome.

Terabot

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Because you have control over it and not someone else... simple and easy.

Topic: Why have Bitcoin instead of cash? - page 174. (Read 246148 times)