Why have Bitcoin instead of cash? - page 33.

Zooplus

legendary

Activity: 1106

Merit: 1000

Quote from: Rinder on September 12, 2017, 09:18:33 PM

Cash does have a lot limitations and the earnings wont go above 5-6% year, while at bitcoin it can get those interest into 1 day, bitcoin potencial is very huge compared to fiat, thats why crypto is getting much more attention now dues to bitcoin amazing results on the last two years.

Cash does not give you earning because it's not an investment, bitcoin does because it has a limited supply and we can hold it
and wait for the right time that the price will rise. Maybe we have to know the difference of investment and savings, if we have both cash
and bitcoin and we save it, they will have an opposite results because bitcoin will appreciate.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: Lumada on September 12, 2017, 11:44:06 PM

Quote from: resty on September 12, 2017, 10:45:37 PM

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.

i think bitcoin is probably make easy much more saving money instead of cash, because this is unstable currency, sometimes getting higher, and also sometimes it's become lower value of money. but, the more you have many bitcoin in your wallet the currency in your life is also to become higher and much more better

in saving purposes, i really recommend having btc. Having btc now can be a great achievement to those who wanted to save a lot in the future. Aswe see btc value now falling , why not buy some that having cash that's too hard to aave aince always prone for spending.

That is not saving purposes for me if we are talking of bitcoin because I have may saving in the bank and put my money in bitcoin to invest.
Understanding the difference is important as we do not easily make money by investing alone, in fact there is no guarantee of success.

Adioliver

full member

Activity: 266

Merit: 108

Why have Bitcoins instead of cash?!
Indeed a good question.There are many reasons,one of them is that it's really secure.You can do transactions at a click of your finger.
But I would say that why trade them for cash when you can invest them.
Bitcoin's value always hikes so my advice would be to think ahead for your future and invest all the bitcoins that you earn so that you have no regrets in the future that you spend all the bitcoins for nothing.
So invest your bitcoins for something better.One never knows what happens in the future and all of a sudden u need cash,that's the time when you should trade bitcoin s for cash.

Lumada

sr. member

Activity: 520

Merit: 250

Quote from: resty on September 12, 2017, 10:45:37 PM

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.

i think bitcoin is probably make easy much more saving money instead of cash, because this is unstable currency, sometimes getting higher, and also sometimes it's become lower value of money. but, the more you have many bitcoin in your wallet the currency in your life is also to become higher and much more better

in saving purposes, i really recommend having btc. Having btc now can be a great achievement to those who wanted to save a lot in the future. Aswe see btc value now falling , why not buy some that having cash that's too hard to aave aince always prone for spending.

resty

full member

Activity: 501

Merit: 147

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.

i think bitcoin is probably make easy much more saving money instead of cash, because this is unstable currency, sometimes getting higher, and also sometimes it's become lower value of money. but, the more you have many bitcoin in your wallet the currency in your life is also to become higher and much more better

mickeybuddy27

full member

Activity: 429

Merit: 102

Quote from: bncbnc on September 12, 2017, 05:40:26 PM

Quote from: Grapt1961 on September 12, 2017, 04:06:36 PM

Its greater to have a little cash on your hand, and not all bitcoin. Below in our nation its difficult to income out your bitcoin. You need to put it very first in the bank before you income out

yes that is right that still we cannot depend on bitcoin for everything, therefore it is necessary to have some cash in hand so as to use when wee become unable to use bitcoin for purchasing something. i think bitcoin is better than cash for so many reason, as we can see that bitcoin is more easy to use both for online as well as for online purposes without changing it into any other currency. therefore bitcoin is better that cash.

That is right. We need to have cash on our hand for everyday because the price of bitcoin is pumping up and down. It is better to convert an amount into fiat when the exchange is high that can be used for buying everyday living rather than using bitcoin everyday. In other way, it is better to use bitcoin on buying online expenditures because some transaction do not need to convert it into fiat because they accept the currency and also it is faster and more convenient.

Rinder

hero member

Activity: 868

Merit: 500

Cash does have a lot limitations and the earnings wont go above 5-6% year, while at bitcoin it can get those interest into 1 day, bitcoin potencial is very huge compared to fiat, thats why crypto is getting much more attention now dues to bitcoin amazing results on the last two years.

bncbnc

hero member

Activity: 840

Merit: 500

Quote from: Grapt1961 on September 12, 2017, 04:06:36 PM

Its greater to have a little cash on your hand, and not all bitcoin. Below in our nation its difficult to income out your bitcoin. You need to put it very first in the bank before you income out

yes that is right that still we cannot depend on bitcoin for everything, therefore it is necessary to have some cash in hand so as to use when wee become unable to use bitcoin for purchasing something. i think bitcoin is better than cash for so many reason, as we can see that bitcoin is more easy to use both for online as well as for online purposes without changing it into any other currency. therefore bitcoin is better that cash.

Grapt1961

newbie

Activity: 35

Merit: 0

Its greater to have a little cash on your hand, and not all bitcoin. Below in our nation its difficult to income out your bitcoin. You need to put it very first in the bank before you income out

Baby Dragon

sr. member

Activity: 896

Merit: 272

OWNR - Store all crypto in one app.

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.

Indeed. They use bitcoin instead of cash because it can accepted in all kind transaction even it is online and offline. You can also recover your money if you lose your wallet and I agree that bitcoin are a potential investment because investing in bitcoin can really help you to make more income.

ahmad21

sr. member

Activity: 672

Merit: 271

Bitcoin has a list of advantages over hard cash.
1.Starting from the fact that bitcoin's value is increasing over time due to its limited supply. While cash being a fiat has limitless supply therefore its value is decreasing over time.
2. Bitcoin is much more safer and easier to store than storing cash somewhere.
3. Bitcoin can be easily sent over to anyone around the world. Something like that is certainly very difficult for cash.
4. Bitcoin is a uniformily accepted means of payment throught world while cash would work in your own country.

These things makes bitcoin a better thing to trade and keep.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Kriptex on September 09, 2017, 02:10:58 PM

Quote from: Alpinat on September 09, 2017, 01:59:27 PM

bitcoins has more security than cash why? cash can steal in you anytime bitcoin can steal in you without private keys or passwords so i will have bitcoins instead of cash because of that.

I found this very weird. Cash cannot be stolen if you put it into your bank account. Bitcoin can be stored in secured wallets. No one can guarantee that blockchain will never be hacked or banks will never have crysis. Both is possible.

Credit card fraud is rampant, those that use credit cards or debit cards get their cards cloned all the time, a friend of mine had his cards been cloned 10 times, and yet he refuses to use cash, bitcoin does not have that problem if you take some easy to follow measures the chance of losing your coins is close to zero.

albertvert

sr. member

Activity: 322

Merit: 250

Quote from: Flodemaga on September 12, 2017, 11:51:17 AM

Cash does have a lot limitations and the earnings wont go above 5-6% year, while at bitcoin it can get those interest into 1 day, bitcoin potencial is very huge compared to fiat, thats why crypto is getting much more attention now dues to bitcoin amazing results on the last two years.

Some what correct buddy. The price of dollars is same to the goods.If the year passed for the single commodity you must pay more dollar. But if you inverse in bitcoin means, your money will keep on increasing day to day.Even hours to hour.You will get double or triple of money you inverse in bitcoin.

Flodemaga

sr. member

Activity: 286

Merit: 250

Cash does have a lot limitations and the earnings wont go above 5-6% year, while at bitcoin it can get those interest into 1 day, bitcoin potencial is very huge compared to fiat, thats why crypto is getting much more attention now dues to bitcoin amazing results on the last two years.

waynechong1995

full member

Activity: 644

Merit: 117

swing!

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.

Point no.2 is the major factor choosing BTC over cash, you can arguably say that fiat is also associated with digital payment as well (satisfying other 1,3,4 point if needed), but BTC could make us rich in the period of owning them, at least for the upcoming years.

engga zenia

newbie

Activity: 7

Merit: 0

because bitcoin has advantages over cash, bitcoin applies globally while cash is only in one country, and also bitcoin gives ease in transactions, bitcoin always rises

hangar18

hero member

Activity: 676

Merit: 500

Quote from: Blamsud on September 12, 2017, 08:16:20 AM

Quote from: Viakor on September 12, 2017, 07:40:24 AM

For me cash can easily stolen, while bitcoin is online and has security. Your bitcoins is only for you nobody will have access to it. You can also get hacked on bitcoin, so don't open unkown links.

I prefer to have bitcoin instead of cash. I want to it to be safe.

Both are prone to get stolen when not being take good care off. Having btc will be good for savings yet we're prone to scammers but with proper security we can be safe. Research more if ever visiting links.

Even Bitcoin easy for hacker stolen it than paper money when wallet of Bitcoin user do not good security. You also know virus Ransomware started hot trend use Bitcoin for extort us, of course if you computer has virus like keylog or malware, it also has risk can makes you loss your Bitcoin too.

Kisanaq

sr. member

Activity: 700

Merit: 277

Because cash can not always meet what we want, even for now cash transactions are getting down and replaced with digital or credit card. Moreover, the more interesting bitcoin is owned because of the ever-increasing price.

Frustasi

newbie

Activity: 58

Merit: 0

Bitcoin is the first implementation of a concept called "cryptocurrency", first described in 1998 by Wei Dai in the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control manufacture and transactions, instead of using centralized authority. The first Bitcoin specification and proof of concept were published in 2009 in a cryptographic mailing list by Satoshi Nakamoto. Bitcoin is nothing more than a mobile app or a computer program that provides a Bitcoin wallet and allows users to send and receive bitcoins. This is how Bitcoin works for most users.

blckhawk

sr. member

Activity: 1526

Merit: 332

Quote from: Kriptex on September 09, 2017, 02:10:58 PM

Quote from: Alpinat on September 09, 2017, 01:59:27 PM

bitcoins has more security than cash why? cash can steal in you anytime bitcoin can steal in you without private keys or passwords so i will have bitcoins instead of cash because of that.

I found this very weird. Cash cannot be stolen if you put it into your bank account. Bitcoin can be stored in secured wallets. No one can guarantee that blockchain will never be hacked or banks will never have crysis. Both is possible.

Indeed, it depends upon us in how we will store our money. There's no way from your money to get stolen if you will store it in trusted and secured banks and same in your bitcoin. Besides, the reason why I chose bitcoin rather than cash is just because bitcoin is volatile, anytime its value could grow into enormous.

Topic: Why have Bitcoin instead of cash? - page 33. (Read 246148 times)