Topic: Why have Bitcoin instead of cash? - page 26. (Read 246169 times)
There are numerous reasons due to which we can prefer Bitcoin over cash .First reason can be that it provides you with cheap and fast transactions .These transactions can be within a country or outside the country also .No tax is imposed as it is a decentralized online transactions system so government has no control over it.One of the other feature is the anonymity of the people involved in the transactions.Bitcoin is a more secure way of keeping our money as we can keep a check on our money through our mobile phones or laptops .Bitcoin is the most renowned digital currency of the present era and it's rising price is making it the finest investment plan that provide huge profits in a short period of time .
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.
"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.
These are some of the reasons why people are just drawn to bitcoin and other cryptocurrencies, these reason are just way better than what we have today, and that is why more people are investing on bitcoin and other cryptocurrencies every day.
Have a bitcoin now more profitable than gold or anything, even in a week the price goes up more than 20% so our money goes high. although I mostly use cash for transactions every day, but bitcoin I think is better than cash.
It is a great way to make cash. For I cant use it that rapidly. I want to money it out in a bank 1st ahead of I can get it. So laziness is the essential. As well lazy to withdraw it. So far better place my excess cash in bitcoin expenditure then let it acquire anything.
Economics is a subject that i used to like in hight school. It was very interesting about young adults to open there eyes and look towrads the future.
Some of the successful people in the crypto world are young adults so it's just a matter of interest now a sense of urgency becausewe are in charge of our future. If you will ask me what is the best investment, I will proudly say there is none other than bitcoin, I am young and I
can say I'm happy to put my interest with bitcoin.
accepting cash while bitcoin is not so popular. I have bitcoin as an investment and cash for convenience with transactions that does not require internet.
Economics is a subject that i used to like in hight school. It was very interesting about young adults to open there eyes and look towrads the future.
Some of the successful people in the crypto world are young adults so it's just a matter of interest now a sense of urgency becausewe are in charge of our future. If you will ask me what is the best investment, I will proudly say there is none other than bitcoin, I am young and I
can say I'm happy to put my interest with bitcoin.
accepting cash while bitcoin is not so popular. I have bitcoin as an investment and cash for convenience with transactions that does not require internet.
I would have Bitcoin rather of Bitcoin simply because of the reality that the benefit of the Bitcoin can always go up which indicates that it is well worth much more. With funds you can pay at each and every store you want and that is not possible with Bitcoin.
Because cash can be easily forfeited. There are many times that organized syndicated produced fake fiat that looks exactly like a dollar bill and it's very subtle to know if it is fake or not. While on the other hand, btc cannot be faked.
Economics is a subject that i used to like in hight school. It was very interesting about young adults to open there eyes and look towrads the future.
Some of the successful people in the crypto world are young adults so it's just a matter of interest now a sense of urgency becausewe are in charge of our future. If you will ask me what is the best investment, I will proudly say there is none other than bitcoin, I am young and I
can say I'm happy to put my interest with bitcoin.
accepting cash while bitcoin is not so popular. I have bitcoin as an investment and cash for convenience with transactions that does not require internet.
Economics is a subject that i used to like in hight school. It was very interesting about young adults to open there eyes and look towrads the future.
Some of the successful people in the crypto world are young adults so it's just a matter of interest now a sense of urgency becausewe are in charge of our future. If you will ask me what is the best investment, I will proudly say there is none other than bitcoin, I am young and I
can say I'm happy to put my interest with bitcoin.
Economics is a subject that i used to like in hight school. It was very interesting about young adults to open there eyes and look towrads the future.
Some of the successful people in the crypto world are young adults so it's just a matter of interest now a sense of urgency becausewe are in charge of our future. If you will ask me what is the best investment, I will proudly say there is none other than bitcoin, I am young and I
can say I'm happy to put my interest with bitcoin.
Very good points. I'd like to add:
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.
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.
Yes because in this type of currency the supply was pre determined by the developer. So no chance that supply will increase but demand will always increase.
But regarding this supply coming from thin air, is it the same as the Airdrops happening most of the time right now. where does those coins came from? Isn't it adding to the supply that was originally released by the developer. I know for a fact that it is way different from the ones that you can get from mining because from the start the un-mined coins was already included on the original released quantity.
Economics is a subject that i used to like in hight school. It was very interesting about young adults to open there eyes and look towrads the future.
We should have Bitcoins and Cash at this point in time. The world will not run with Bitcoin alone at this moment of time. Although we are going there, that point is still too far away. The world of commerce may have converted to cashless transactions gradually, but cash is still the one providing fuel to it. I am just happy that crypto especially Bitcoin is also growing along with this situation.
definitely can not say this today that Bitcoin can be used instead of cash. Such opportunities will not be able to use the majority of people on the planet, because this requires not only knowledge but also access to some opportunities. The fact is that cash will always be in use, while Bitcoin will be used as an investment or saving its income. As always Bitcoin is a currency for a certain community of people. 
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.
"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.
These are some of the reasons why people are just drawn to bitcoin and other cryptocurrencies, these reason are just way better than what we have today, and that is why more people are investing on bitcoin and other cryptocurrencies every day.
We should have Bitcoins and Cash at this point in time. The world will not run with Bitcoin alone at this moment of time. Although we are going there, that point is still too far away. The world of commerce may have converted to cashless transactions gradually, but cash is still the one providing fuel to it. I am just happy that crypto especially Bitcoin is also growing along with this situation.
As we know, Bitcoin is like an invisible gold in general. People would want to use Bitcoin instead of cash for the reasons of this can be used as an investment. It is fast and can be transacted worldwide without adding much costs like in the bank. Security is also good reason because you can hold it well like what the banks are doing with your resources. That's it for now.
Investing is only for few people, majority will just play safe and will only stick with cash.When they can use cash and no problem at all then why would they shift to using bitcoin, that is the logic, so we cannot really eliminate cash
just because bitcoin is getting popular.
Very good points. I'd like to add:
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.
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.
The freedom from those banks is truly one of the thing that keeps me choosing Bitcoin over cash. Thru Bitcoin, we are in c9ntrol over our financial assets without the need of any third party which is great in my opinion.
As we know, Bitcoin is like an invisible gold in general. People would want to use Bitcoin instead of cash for the reasons of this can be used as an investment. It is fast and can be transacted worldwide without adding much costs like in the bank. Security is also good reason because you can hold it well like what the banks are doing with your resources. That's it for now.
If you will inquire why i have bitcoins alternatively of genuine money there are several response i can give to you.Initial is i cant squander bitcoins in every day lifestyle,because when i have my funds personal savings on my hand or wallet one factor is confident i will expended it on numerous factors and my income will be gone.I use bitcoins lead to it can enable my money develop and greater stability than possessing physical cash
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