Why have Bitcoin instead of cash? - page 42.

Botnake

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Quote from: Sled on August 06, 2017, 02:58:04 AM

Quote from: hyunee on August 05, 2017, 03:38:29 PM

You have a very good point. For me also i would like to see how bitcoin really changes the world. With the value of it and how it helps our society. I think it would be better if they give it a try to test how convenient it is to have bitcoin.

We can't really just adopt bitcoin and implement it in our system because bitcoin is not that very trustworthy for the eyes of the government because it is decentralized and that is cannot be controlled by the officials of the government so it will be undergoing a slow process to be able to make it as a recognized currency for the countries.

They should work together, bitcoin without cash is useless and this world would not be a better place to live with cash only existing.
We just discover bitcoin and we should support it but we should know how far it can go and that includes being second to cash.

Sled

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Bitcoin- in bullish time

Quote from: hyunee on August 05, 2017, 03:38:29 PM

You have a very good point. For me also i would like to see how bitcoin really changes the world. With the value of it and how it helps our society. I think it would be better if they give it a try to test how convenient it is to have bitcoin.

We can't really just adopt bitcoin and implement it in our system because bitcoin is not that very trustworthy for the eyes of the government because it is decentralized and that is cannot be controlled by the officials of the government so it will be undergoing a slow process to be able to make it as a recognized currency for the countries.

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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.

Indeed. Because bitcoin can be easily stored on electronic wallet for your safety and also bitcoins are that handy because you can even bring a large amount without worrying that it might be snatched or stole from you. Although cash can also be stored online, bitcoin's feature makes it unique because of its decentralized block chain and also it increases its price value from time to time unlike cash that is operated by banks that only gives a little percent of gain. Also bitcoin provides fast transaction that you do not have to wait that long that can be done through mobile or computer usage.

Silberman

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Quote from: Yanisumin on August 01, 2017, 02:47:19 PM

Quote from: azguard on July 11, 2017, 06:12:44 AM

It better to have both. Remember all we that not everywhere still is accepted bitcoin or adopted. So for the time being cash is good to have. My investment is more less 50-50 in percentage. But for future saving or investing or even safe keeping bitcoin is better solution it can easily go up in price as well it can go down. But still is better option for me and believe for most of us here.

Im at 70/50 percent at the moment, the other 30% is on cash and the other part of that 30% is on things like land and some properties.
" If it is a bad investment then it is a good investment and vice versa" The profits that you might earn in btc is same as the profits that you might lose and the situation will remain the same as the price go up. As long as bitcoin is not legally accepted as a worldwide reserve, (even some reserves will lose its value through time) then bitcoin's price might drop but before it drops be sure than you are cashing out some of your profits and earning s in BTC and change it into some other good investments and business to compensate for the loss if the crypto goes down.

I also got most of my money in bitcoin, that is why I was worried with all the issues of the hard fork and stuff like that but it seems everything is going to turn all right, now the only thing we need is for those greedy miners to not make that planned hard fork they want to do in November and we will be fine for many years to come since the capacity of the network to manage transactions will go up.

hyunee

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You have a very good point. For me also i would like to see how bitcoin really changes the world. With the value of it and how it helps our society. I think it would be better if they give it a try to test how convenient it is to have bitcoin.

tittensor

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Quote from: Tungsten-1 on August 01, 2017, 04:09:22 PM

Quote from: alexsamudra on July 29, 2017, 12:15:17 AM

I like if bitcoin is not cash because it can be used anywhere even abroad, so for me not problem if bitcoin is not cash.

Agree. Real cash we can not use in everywhere and compare of bitcoin we can use it everywhere. In bitcoin has no more risk of stolen, and also this is the big advantage of bitcoin that we save our high amount of money very easily and we can not face any problems.

Why don't have more risk of stolen

? If you store your Bitcoin in wallet PC and save your private key to file text, excel or json ... Hacker still can hacked them and rob all your funds. So, don't think hacker can't do that.

ochysp

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Buying and holding crypto is a strategy. Holding money is not an option. So investing is becoming a necessity for modern humans.

Batang Hambog

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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.

We have the same point of view in choosing bitcoin rather than cash. I just want to add one.

If you have bitcoin your money can grow to much higher price. Not like in cash your money will stay like that unless you spend it. Bitcoin is much better than cash for the present time.

leyton11

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Quote from: mothergodness on August 05, 2017, 07:39:32 AM

Bitcoin has the ability to bring very good profits, but for small purchases in everyday life it is not everywhere possible to use and it is not entirely convenient. It is intended only for large operations.

So we need find the ways make Bitcoin can useful and easy use for any one, this is the goal of Bitcoin for the future popular than on the world's. I think if Bitcoin can working as Digibyte system in current, it's will become to best crypto for purcharse and not have any problem.

Choyor

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Why bitcoin is not cash? I think it's because bitcoin is just a digital currency not a common currency in use for payment, it means bitcoin is not a currency but a media barter from bitcoin into cash and after becoming money then we can use it as a means of payment. Now bitcoin is getting popular, many people use it, it's because bitcoin gives a lot of ease in transactions, in addition also bitcoin also give advantage and more secure in terms of investing. Maybe that's the reason why we prefer bitcoin rather than cash.

mothergodness

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Bitcoin has the ability to bring very good profits, but for small purchases in everyday life it is not everywhere possible to use and it is not entirely convenient. It is intended only for large operations.

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Quote from: Noilee on August 05, 2017, 04:53:07 AM

Having bitcoin instead of cash, there are many reason why we have bitcoin instead of cash this is because bitcoin is trusted and most secured than cash. Bitcoin is easy to earn and you can invest in bitcoin and gives profit. It has many advantages and benefits than cash, bitcoin transaction is fastest. You can hide a wealth in bitcoin or you can store in your wallet. Having bitcoin than cash is much better especially in the future.

And to some people, it's even better to hold bitcoin because their fiat currency is in a sinking boat. Cash is subject to inflation and even though most people don't notice it, it's actually happening. You can save yourself from it by putting your money in gold (because gold is even more stable than bitcoin) or bitcoin if you want to risk it and maybe earn a little after a few months.

Bitcoin transaction is the fastest when it comes to long distance transactions. But when it comes to person-to-person transactions, cash is still much better because you simply hand it over to the person and then he'll receive it. No fees at all.

Noilee

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Having bitcoin instead of cash, there are many reason why we have bitcoin instead of cash this is because bitcoin is trusted and most secured than cash. Bitcoin is easy to earn and you can invest in bitcoin and gives profit. It has many advantages and benefits than cash, bitcoin transaction is fastest. You can hide a wealth in bitcoin or you can store in your wallet. Having bitcoin than cash is much better especially in the future.

Tungsten-1

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Quote from: alexsamudra on July 29, 2017, 12:15:17 AM

I like if bitcoin is not cash because it can be used anywhere even abroad, so for me not problem if bitcoin is not cash.

Agree. Real cash we can not use in everywhere and compare of bitcoin we can use it everywhere. In bitcoin has no more risk of stolen, and also this is the big advantage of bitcoin that we save our high amount of money very easily and we can not face any problems.

lukmandog

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Reason i have bitcoin is very simple, is investment. While cash, just to make a real payment. Because i cannt buy milk at store using bitcoin.

Yanisumin

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Quote from: azguard on July 11, 2017, 06:12:44 AM

It better to have both. Remember all we that not everywhere still is accepted bitcoin or adopted. So for the time being cash is good to have. My investment is more less 50-50 in percentage. But for future saving or investing or even safe keeping bitcoin is better solution it can easily go up in price as well it can go down. But still is better option for me and believe for most of us here.

Im at 70/50 percent at the moment, the other 30% is on cash and the other part of that 30% is on things like land and some properties.
" If it is a bad investment then it is a good investment and vice versa" The profits that you might earn in btc is same as the profits that you might lose and the situation will remain the same as the price go up. As long as bitcoin is not legally accepted as a worldwide reserve, (even some reserves will lose its value through time) then bitcoin's price might drop but before it drops be sure than you are cashing out some of your profits and earning s in BTC and change it into some other good investments and business to compensate for the loss if the crypto goes down.

Silberman

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Quote from: Shutup on July 27, 2017, 09:56:58 AM

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 dont know about bitcoin,but according of what ive read and heard to my sister its better to have bitcoin because when price is very high you can sell it and make it cash.Bitcoin is very useful in many ways.Bitcoin is for fast transactoin to make in all types of payments and others.Unlike in cash when you travel you have to go first in the money changer before you can use your money.

If you use bitcoin like that then bitcoin does not behave as a currency but as an investment and the same rules apply, if you bought bitcoin at 2500 and then you sell it at 3000 then you made a good profit, that is why it is important to let your bitcoin sit in your wallet, there is not much of a point in moving them constantly, just buy and wait until bitcoin gain in value and then when you sell you get some easy profits, it does not get any easier than that.

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Quote from: deppil on July 30, 2017, 07:48:17 PM

Quote from: Pejoh Asu on July 29, 2017, 03:18:09 AM

Cash and bitcoin are of course different in their ways, and I think both of us have to be tailored to function, I have bitcoin because of the many benefits I get from bitcoin, such as easier, quicker transactions and hope someday prices will go up, so I will get profit.

Agree, but then I will use cash to pay for my daily needs, you can use bitcoin for fast transactions online and certainly use bitcoin for your investments and profits, but I'm sure everyone will use cash to pay for their daily needs in real life

I will still use cash because bitcoin is not really that widespread yet and there are still so many people who do not know about it. In my daily needs especially going to groceries, I still use cash for payment because they don't accept bitcoin yet but I am hoping in the near future, they will already accept bitcoin as payment.

In terms of why bitcoin over cash, it would relate to investment. Investing in bitcoin has much more gain than investing in the traditional businesses or investment vehicle like mutual funds. Gains in bitcoin may be ten or hundred times more than the gain in mutual funds so bitcoin would be best in investment.

deppil

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Quote from: Pejoh Asu on July 29, 2017, 03:18:09 AM

Cash and bitcoin are of course different in their ways, and I think both of us have to be tailored to function, I have bitcoin because of the many benefits I get from bitcoin, such as easier, quicker transactions and hope someday prices will go up, so I will get profit.

Agree, but then I will use cash to pay for my daily needs, you can use bitcoin for fast transactions online and certainly use bitcoin for your investments and profits, but I'm sure everyone will use cash to pay for their daily needs in real life

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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 think it's because it's secured and it's more convenient to have. Since, if you're carrying cash there are chances that you might lose it. Unlike BTC, it can also be an investment due to it's varying price.

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