Why have Bitcoin instead of cash? - page 34.

devil jin

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Quote from: BTCfan97 on July 08, 2015, 01:10:49 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.

Obvioulsy, things you have stated are really the reasons why people tend to choose bitcoin rather than choosing cash. Yes bitcoin provide you more security because it can be stored up into different technological gadgets and can be accessed online unlike cash that is attrractive to thieves out there. Also it is a potential investment because bitcoin has a potential to grow compared to cash that can enable users to gain profit even if you just save it. Indeed, with bitcoin you can already do fast transactions because it will be just a few clicks away from your hands. And it was already widely used worldwide.

Ghostrich

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Bitcoin can appreciate in value, Cash can't. Additionally, cash can be compromised while Bitcoin is decentralized, which means no one can control it

Tahir Khan

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Quote from: coinplus on September 12, 2017, 12:18:09 AM

Quote from: Wingo on September 08, 2017, 11:05:31 AM

The potential of bitcoin in earning profit out of an investment for a shorter period of time is great compared to real cash. That is what attracts people in using bitcoin and also, the transaction is easier.

According to me, cash can actually not even give you any profit. If I am holding a local currency in my hands say one dollar, no matter how long I hold it, it will be still one dollar. However, if I hold 1 bitcoins today, it is 4560 dollars today but in future it will be more than that. The value keeps on increasing.

if you want to expand your money than you should keep cash and if you have extra cash then convert it in bitcoin for future profit

rosygreat

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Both involves risky, because both of them can be hacked

Blamsud

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Quote from: Viakor on September 12, 2017, 06:40:24 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.

Viakor

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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.

Crosshair

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Bitcoin more gainful for every one of us than we are to utilize the Bank for exchanges done. In any case, more banks have a lawful premise and will get an assurance on every one of the things we do. Not at all like the bitcoin, bitcoin has no legitimate premise and furthermore ensure. In any case, to the favorable position I will utilize the bitcoin and after that Exchange bitcoin into FIAT and after that utilized the bank so that my cash is guaranteed with great.

djablom1

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Because actually bitcoin is cash but just secured in your own digital wallet and it is unreachable by a bank or anyone except you so if you have bitcoins you have cash also bitcoin price will go up and

the price of cash will stay the same for like ever.

lalunalaguna

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Quote from: BTCfan97 on July 08, 2015, 01:10:49 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. Those what you have stated are really the things people consider to choose bitcoin rather than choosing cash. We all know that investing or putting our money into bitcoin cryptocurrency can enable it to grow because bitcoin has a potential of growing that will give us an instant profit by just saving and holding into it. There are lots of features that bitcoin can provide that is beneficial compared to cash.

Hatuferu

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https://trueflip.io/

Quote from: coinplus on September 12, 2017, 12:18:09 AM

Quote from: Wingo on September 08, 2017, 11:05:31 AM

The potential of bitcoin in earning profit out of an investment for a shorter period of time is great compared to real cash. That is what attracts people in using bitcoin and also, the transaction is easier.

According to me, cash can actually not even give you any profit. If I am holding a local currency in my hands say one dollar, no matter how long I hold it, it will be still one dollar. However, if I hold 1 bitcoins today, it is 4560 dollars today but in future it will be more than that. The value keeps on increasing.

That's the big difference, we see that bitcoin's value appreciate while paper money's value will depreciate of inflate.
If we are up to spending only it does not matter to us but if we save and invest then maybe we should choose what gives us the benefits.

setupbounds

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Quote from: ?? on ??

Cash has an implemented inflation, because the central banks print it out of nothing, while the number of bitcoin is limited and its value rised continuously since its introduction.

You have rightly said. If you have cash, even if you keep it for 10 years the price will not change. The amount of cash will remain as it was before. However if you talk of Bitcoin, the scenario is completely different. You can make your amount much more than your actual investment. This is why people should and are going for Bitcoin.

coinplus

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Quote from: Wingo on September 08, 2017, 11:05:31 AM

The potential of bitcoin in earning profit out of an investment for a shorter period of time is great compared to real cash. That is what attracts people in using bitcoin and also, the transaction is easier.

According to me, cash can actually not even give you any profit. If I am holding a local currency in my hands say one dollar, no matter how long I hold it, it will be still one dollar. However, if I hold 1 bitcoins today, it is 4560 dollars today but in future it will be more than that. The value keeps on increasing.

danjonbit

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DanJoN

Quote from: BTCfan97 on July 08, 2015, 01:10:49 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 agree with some of your points, but whe you say its more security than cash, i will say cash has its security and for now banks will never allow to be unsecure compare to bitcoin, yes there is a.private key.on wallet but i.am not that secure on it. just my opinion。

Kriptex

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Quote from: Alpinat on September 09, 2017, 12:59:27 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.

Alpinat

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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.

South Park

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I am terrible at Fantasy Football!!!

Quote from: FLoving on September 08, 2017, 06:48:11 PM

Quote from: Paultron on September 08, 2017, 08:07:23 AM

The price of cash wont go up or down it will stay the same but the price of bitcoin can change to getting more or getting less.

That’s one of the many reasons for holding bitcoins instead of cash. Indeed bitcoins can produce great returns for you if you are holding them in your wallet for a long time but no matter how long you keep cash under your mattress, it is never going to increase neither in numbers nor in value.

If the government was honest and did not print money out of thin air to pay for their needs cash could appreciate in value too, but they have decided to abandon any restriction and steal from people with the inflation tax, and by the way this is another advantage of bitcoin over cash, if you have cash the more you lose, but if you have bitcoin you are benefited by it since the price of bitcoin will go up in value thanks to the bigger amount of fiat in circulation.

Sled

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Bitcoin- in bullish time

Quote from: Pleione527 on September 08, 2017, 08:05:45 PM

Bitcoin is more safer to use than cash, you cannot lost them like fiat that can be stollen from your wallet besides it is accepted internationally so you can use it to purchase in other country and also bitcoin is a sort of investment coming from your wallet it's really nice and convenient to use

Bitcoin is a complete tool for everyone and that is why it is better to use bitcoin rather than cash because cash is prone to inflation which damages the value of your cash and it reduces the power to purchase things since the goods or items in the future will go up higher than now while bitcoin is prone to deflation which is the best thing in bitcoin because as the time pass by the value of our money will increase and it will help us to buy things.

Pleione527

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Bitcoin is more safer to use than cash, you cannot lost them like fiat that can be stollen from your wallet besides it is accepted internationally so you can use it to purchase in other country and also bitcoin is a sort of investment coming from your wallet it's really nice and convenient to use

birra guzez

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Having bitcoin instead of cash has numerous benefits , first of all your money is safe and you can use it wherever you want whenever you want , without fearing that it'll get stolen or smuggled from you .
Also , having bitcoin means the value of your money can increase and this by itself is an investment . Volatility of bitcoin is an asset that cash will never have .

FLoving

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Quote from: Paultron on September 08, 2017, 08:07:23 AM

The price of cash wont go up or down it will stay the same but the price of bitcoin can change to getting more or getting less.

That’s one of the many reasons for holding bitcoins instead of cash. Indeed bitcoins can produce great returns for you if you are holding them in your wallet for a long time but no matter how long you keep cash under your mattress, it is never going to increase neither in numbers nor in value.

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