Why have Bitcoin instead of cash? - page 3.

stayeduptolate

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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.

I would personally prefer bitcoin over money because firstly, bitcoin is a universal form of currency so it can be used anywhere throughout the world without the problems of currency exchange. Then secondly, bitcoin is also a very good investment platform where one can get very high amounts of profits. Then bitcoin can’t be stolen easily like regular fiat currency which anyone can steal from one’s pocket or wallet. Then bitcoin transactions are also very fast.

GoodLuck2

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Quote from: Xenoph0bia on February 10, 2018, 03:29:32 PM

Quote from: OracionSeis on February 10, 2018, 02:05:35 PM

Quote from: CARrency on February 10, 2018, 12:15:39 AM

Quote from: L00n3y on February 10, 2018, 12:04:17 AM

You can travel from country to country carrying a lot of cash in your smart phones without anyone to notice it. The burden of carrying a lot of money is avoided but the thing is, not all countries or institutions accept bitcoin as a means of payment.

That is best thing if bitcoin will be accepted world wide. No need to bring a lot of cash or even your credit card, all you need to do is to have your bitcoin wallet in your phones and you are ready to go. Now your android phone is not only for taking pictures and tweeting out your every move but also it is also your travel buddy in terms of your money.

Smartphone isn't a good hardware to store your cryptocurrency. You need to have a hardware wallet like Ledger Nano S or TRAZOR or a laptop to bring it anywhere and this laptop has wallet store cryptocurrency. The benefit of cryptocurrency is helps you skip many times for verifying from the government and global transfer money with cheapest fees, these things are the best benenfit for the moment if compare to cash, IMO

Bitcoin is somewhat better than cash in some ways.Firstly the transactions done through Bitcoin are much more easier than the normal cash.For transferring cash you need to go to the bank and then do some procedures.But for transferring Bitcoins you just need to have a bitcoin wallet and you can transfer any amount of Bitcoins from one person to another.Taxes cannot be applied on Bitcoin so the person receives full amount of money.Bitcoin is also the fastest way to earn money.Investing in Bitcoin is also a good way to earn a lot of money and that too in a lesser duration.

Agreed! So in my opinion, both paper money and bitcoin have their own importance. You do need to have paper money in your wallet for your survival as you can only buy the things which you need on your daily basis if you will be having paper money with yourself. However, you need to invest some amount of paper money and should go for buying of some bitcoins as this will later on help you in making an extra amount of money, in fact far more than your actual investment.

Falmera

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Saving a cash at your home or in a bank is a risk because they may be stolen from you. While saving a bitcoin is same way as investing because it has the potential to grow and enable you to get huge profits. Having lots of cash when you travel is a lot hassle and too risky than that of bitcoin.

Xenoph0bia

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Quote from: OracionSeis on February 10, 2018, 02:05:35 PM

Quote from: CARrency on February 10, 2018, 12:15:39 AM

Quote from: L00n3y on February 10, 2018, 12:04:17 AM

You can travel from country to country carrying a lot of cash in your smart phones without anyone to notice it. The burden of carrying a lot of money is avoided but the thing is, not all countries or institutions accept bitcoin as a means of payment.

That is best thing if bitcoin will be accepted world wide. No need to bring a lot of cash or even your credit card, all you need to do is to have your bitcoin wallet in your phones and you are ready to go. Now your android phone is not only for taking pictures and tweeting out your every move but also it is also your travel buddy in terms of your money.

Smartphone isn't a good hardware to store your cryptocurrency. You need to have a hardware wallet like Ledger Nano S or TRAZOR or a laptop to bring it anywhere and this laptop has wallet store cryptocurrency. The benefit of cryptocurrency is helps you skip many times for verifying from the government and global transfer money with cheapest fees, these things are the best benenfit for the moment if compare to cash, IMO

Bitcoin is somewhat better than cash in some ways.Firstly the transactions done through Bitcoin are much more easier than the normal cash.For transferring cash you need to go to the bank and then do some procedures.But for transferring Bitcoins you just need to have a bitcoin wallet and you can transfer any amount of Bitcoins from one person to another.Taxes cannot be applied on Bitcoin so the person receives full amount of money.Bitcoin is also the fastest way to earn money.Investing in Bitcoin is also a good way to earn a lot of money and that too in a lesser duration.

OracionSeis

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Quote from: CARrency on February 10, 2018, 12:15:39 AM

Quote from: L00n3y on February 10, 2018, 12:04:17 AM

You can travel from country to country carrying a lot of cash in your smart phones without anyone to notice it. The burden of carrying a lot of money is avoided but the thing is, not all countries or institutions accept bitcoin as a means of payment.

That is best thing if bitcoin will be accepted world wide. No need to bring a lot of cash or even your credit card, all you need to do is to have your bitcoin wallet in your phones and you are ready to go. Now your android phone is not only for taking pictures and tweeting out your every move but also it is also your travel buddy in terms of your money.

Smartphone isn't a good hardware to store your cryptocurrency. You need to have a hardware wallet like Ledger Nano S or TRAZOR or a laptop to bring it anywhere and this laptop has wallet store cryptocurrency. The benefit of cryptocurrency is helps you skip many times for verifying from the government and global transfer money with cheapest fees, these things are the best benenfit for the moment if compare to cash, IMO

bololord

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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.

I can say that it gives an advantages when you go through bitcoin. The reason why bitcoin is bitcoin will go through the point that it will increase its value faster unlike when you are holding a cash. Another thing is you can your money and it is more secured.

CARrency

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Quote from: L00n3y on February 10, 2018, 12:04:17 AM

You can travel from country to country carrying a lot of cash in your smart phones without anyone to notice it. The burden of carrying a lot of money is avoided but the thing is, not all countries or institutions accept bitcoin as a means of payment.

That is best thing if bitcoin will be accepted world wide. No need to bring a lot of cash or even your credit card, all you need to do is to have your bitcoin wallet in your phones and you are ready to go. Now your android phone is not only for taking pictures and tweeting out your every move but also it is also your travel buddy in terms of your money.

L00n3y

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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.

You can travel from country to country carrying a lot of cash in your smart phones without anyone to notice it. The burden of carrying a lot of money is avoided but the thing is, not all countries or institutions accept bitcoin as a means of payment.

Rrotess

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For me Bitcoin process was very nice strategy than cash.It's because just simple saying that anytime you can convert your bitcoin into a money then cash out.But when u temporarily considered it as bitcoin the value of it was continue to rise and because of that your bitcoin will continue to grow it's value.But in cash you have no reason that that your money will grow unlike bitcoin was continue to grow it's value.

Kousei23

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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.

This is pretty much true. And it is very fast widrspreading. It has so much opportunities that it lessen the people who are unemployed. I also like the fact that it is a very fast currency, it makes payment among my peers very fast. It is also very compact, I don't even have to bring my wallet whenever I am with my friends because I can pay them with bitcoins anytime.

jaysabi

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

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.

Except it doesn't. The money supply is increased as the value of goods/services in the world is increased; that is the money supply increases as the economy grows. If they both expand at the same rate, money remains stable. The fact that inflation in the US is so low (roughly 2% per year) shows that the Fed mostly does a good job inflating the money supply in conjunction with the speed of the growing economy. If your premise were to hold true, inflation would be a whole lot higher and the US dollar would depreciate at a much faster rate than it does.

goku1525

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Quote from: Sled on February 09, 2018, 08:13:23 PM

Quote from: t2yax on February 06, 2018, 01:59:50 AM

Hmm, why bitcoin instead of cash.. For me, because the value of bitcoin have potential to gain more value than the cash. Because if you have 100 in cash. if you will just put it in your cabinet, do you think it will gain triple the value of it? in bitcoin yes, maybe sometimes it will go lower but we are sure that it will increase the value of bitcoin, and sometimes the amount that we dont expect.

Even though we all know that having bitcoin is a good thing because of the potential of our investment to grow up to double, triple or even more than that. I think that it is still good to have some cash because we know that bitcoin is not yet accepted in all over the place in the world and since we need to buy some things due to our needs or wants, we still need to have some cash for back ups.

Definitely, we still want fiat money to buy things due that bitcoin is not accepted. But for me both are definitely good. First in bitcoin, have a potential to grow your money in huge profits and and cash also good due to buy foods in the street ,or things that are needed.

Sled

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Quote from: t2yax on February 06, 2018, 01:59:50 AM

Hmm, why bitcoin instead of cash.. For me, because the value of bitcoin have potential to gain more value than the cash. Because if you have 100 in cash. if you will just put it in your cabinet, do you think it will gain triple the value of it? in bitcoin yes, maybe sometimes it will go lower but we are sure that it will increase the value of bitcoin, and sometimes the amount that we dont expect.

Even though we all know that having bitcoin is a good thing because of the potential of our investment to grow up to double, triple or even more than that. I think that it is still good to have some cash because we know that bitcoin is not yet accepted in all over the place in the world and since we need to buy some things due to our needs or wants, we still need to have some cash for back ups.

wewe123

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In our time the era of new intoduction of modern technology ,I prefer bitcoin because as its function is multiple and easy ,while in cash there is danger of lossing the cash or you be rob, misplace so if ever the business establishment adopt the bitcoin technology so I prefer to use bitcoins.

binmu29

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As we all know there is risk in holding cash, and also i prefer bitcoin because it's an investment which i know it will grow my money.

t2yax

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Hmm, why bitcoin instead of cash.. For me, because the value of bitcoin have potential to gain more value than the cash. Because if you have 100 in cash. if you will just put it in your cabinet, do you think it will gain triple the value of it? in bitcoin yes, maybe sometimes it will go lower but we are sure that it will increase the value of bitcoin, and sometimes the amount that we dont expect.

goldcoinminer

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Quote from: Masongrae on January 29, 2018, 02:58:22 PM

Cash is stable unless you will work for it to make it high, while Bitcoin is an asset, once you have it even without working for it, you can earn cause the value is moving up, and if you work for it, like investing or buying and selling, its faster for you to become rich. And also makes the trasaction easier, like paying of bills, sending money to love ones etc.. and you can control it anywhere, anytime, no hassle. Only gadget, internet and you as open minded and smart are required.

Cash are being used by all of use while bitcoin is not, in fact only few population in this world are using bitcoin so we cannot beat cash.
Even those people who are investing will still choose cash as they cannot spend their bitcoins without cash, the current situation today just prove
how unstable bitcoin is, and if you are only using bitcoin for online transaction, you might be worried with the price dropping.

ashlyvash00

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Because bitcoin has much sexured than cash and it easy to transact no hasel. Both i think it twice they are both good. Because bitcoin cannot transact with a mall but not all there are store in a mall now accepting bitcoin.

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Quote from: altcointalk14 on January 18, 2018, 02:52:40 AM

Quote from: mx667 on January 18, 2018, 02:10:53 AM

Quote from: Butchick on January 18, 2018, 01:54:03 AM

Actually, both is good when you purchase things but a pkus to bitcoin is that it offers security. Security in a sense that you don't have to bring money with you in which your money is protected incase you get robbed. Another is the convenience, when you are in another country, you don't need to go to a money changer and have your money changed to that countries currency; this works though if the country you are in accelts bitcoin as payment. Another plus for bitcoin is that it is not only used in purchasing stuffs but it can also serve as an investment.

I think you should know the basic functions of both. Bitcoin and Cash have their own uniqueness and advantages. You can not select Bitcoin over Cash, and vice versa. You can not ignore Bitcoin and prefer Cash. Both of us need and are very important for our lives. If I think, people choose Bitcoin for various reasons. For example, like investing, we all know that Bitcoin prices are always on the rise, so people want to save Bitcoin to sell it when the price goes up. People also like to do transactions using cryptocurrency because in the world of cryptocurrency, there is no limit whatsoever for us to do transactions. However, there is a disadvantage that the price of cryptocurrency is always up and down. That is way, Cash is needed.

Gold has become money gradually and over time. Dollars are used because people are forced to use them. The cost of bitcoin as money must be understood as that of gold and comes not from legal coercion, but from the specific characteristics of the currency.

Gold is not having more than bitcoin because bitcoin is better than even nothing is better than bitcoin. it is true in some countries bitcoin is ban and people are forced to use only dollar or some country currency instead of gold or bitcoin and in the list most popular name of countries are china and south Korea. This thing is bad for bitcoin future in that country only but as a whole this thing will not affect the price of bitcoin. So gold is more convenient and reliable to use than anything else.

Masongrae

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Cash is stable unless you will work for it to make it high, while Bitcoin is an asset, once you have it even without working for it, you can earn cause the value is moving up, and if you work for it, like investing or buying and selling, its faster for you to become rich. And also makes the trasaction easier, like paying of bills, sending money to love ones etc.. and you can control it anywhere, anytime, no hassle. Only gadget, internet and you as open minded and smart are required.

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