Since the last 2 years bitcoin has growed around 8 times its value, for the investors its more then enought to switch, besides those the technology around bitcoin is making a lot companies to look inside to be able to grow their profit, something that were wasted over fees.
Some people can now send bitcoins for parents without loose money on those, something people still payin
Topic: Why have Bitcoin instead of cash? - page 43. (Read 246169 times)
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 to you it is secure and has a potential investment to increase. Paper currency also increase but not the same in cryptocurrency that pumping to high. Bitcoin has a potential that it might increase to $4000 all you have to do is wait more patient the more it will come. "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.
It is very simple for me. Fiat currency loses its value every year due to inflation. The central banks around the world seems to be in a race to print out the maximum number of banknotes. But Bitcoin is protected against inflation and its value remains constant.
Many lose value especially ones that are trade with USD or EURO. Rest try to keep up with leading ones but eventually in time they will lose value as well. IN crypto there is always unpredictable option for any coin even bitcoin. TO keep then is good to trade or invest is also good you can gain some coin in value. This is still something that is new I mean on crypto and many are still have some defensive measure with this or try to take small part in this. For me bitcoin represent something as saving fund more I like when price go up like this moment is.
It is very simple for me. Fiat currency loses its value every year due to inflation. The central banks around the world seems to be in a race to print out the maximum number of banknotes. But Bitcoin is protected against inflation and its value remains constant.
Many lose value especially ones that are trade with USD or EURO. Rest try to keep up with leading ones but eventually in time they will lose value as well. IN crypto there is always unpredictable option for any coin even bitcoin. TO keep then is good to trade or invest is also good you can gain some coin in value. This is still something that is new I mean on crypto and many are still have some defensive measure with this or try to take small part in this. For me bitcoin represent something as saving fund more I like when price go up like this moment is.
It is very simple for me. Fiat currency loses its value every year due to inflation. The central banks around the world seems to be in a race to print out the maximum number of banknotes. But Bitcoin is protected against inflation and its value remains constant.
Easy to transfer anytime and anywhere with 24/7 availability transaction time.
I too prefer to have bitcoin instead of cash, because bitcoin is always touched in market with business through technology and can earn money, but a cash don’t so this. Bitcoin is a business not simply a currency. Through bitcoin you can earn easily without any hard work because bitcoin is an automatic investment.I couldn't agree more. Bitcoin is like cash only better. But don't try to buy everything with it nowadays. Just exchange some BTC for fiat first and then buy things. If we will come to the point when transactions are cheap and fast, Bitcoin will go to the Moon from that point.
Bitcoin is like a cash that changes its value every now and then. I too prefer bitcoin since there are many ways on how to earn it and to use it. Another thing since bitcoins are decentralized, it cannot be controlled by the government like imposing tax or regulations. Though there may be transaction fees when you convert bitcoin to fiat, still bitcoin remains superior when it's compared to cash. One thing that puts bitcoin at a disadvantage is the investing of it due to many websites scamming it. But if there is improving the system, then bitcoin is truly better.
That is not a disadvantage of Bitcoin in particular, you can be scammed with fiat too, there are many options of that. Do not invest your Bitcoin in any enterprise because Bitcoin is the best investment itself. Don't trust those who say they've invented a better investment, because the odds that they are telling the truth are very low.
No one knows except the banks which is the entity that you're actually trying to avoid. The government isn't collecting capital gains from bitcoin but whenever you cash out your money, the banks know about it. Once your earning blew up, and you start cashing out huge amount of money, they are going to be knocking to your door the next day. Unless you live in a place where the banks don't really review your account, then you have to pay the taxes so you won't have problems in the future.
Without even thinking about it, if I have a million dollars, I wouldn't be putting it in physical cash. It will be in my bank account. I will only carry a couple of bucks just like any other citizen so having a lot of cash doesn't necessarily attract thieves.
Besides, Bitcoin is an invisible gold and do not be restricted by the customs.
I think it is more than gold. You can dig it even though you are not a gold miner. Besides, at present, it is not taxable, can be exchanged around the world without customs. Absolute security, everywhere, high profits, .. Bitcoin's advantages over cash
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.
In the near future we will have cash with Bitcoin-BCC that is the new era of cash. BCC will become more popular, more stringent security, worldwide transactions like the dollar and more improvements than current cash.
Besides, Bitcoin is an invisible gold and do not be restricted by the customs.
I think it is more than gold. You can dig it even though you are not a gold miner. Besides, at present, it is not taxable, can be exchanged around the world without customs. Absolute security, everywhere, high profits, .. Bitcoin's advantages over cash
Both of which there are complementary sides, cash I always use for real transactions, quickly and directly to the seller. While bitcoin is for online transactions and investments.
yes but I think bitcoin is better than cash because now everyone is accepting bitcoin and the bitcoin price is increasing very rapidly it is taking the worth of our money very high but the cash cannot let you earn money you cannot do your online shopping with your cash money but through bitcoin you can pay online and can get whatever you need.
I prefer bitcoin instead of cash. If we keep both. Surely we will get bigger profit from bitcoin. Bitcoin can provide benefits only by storing it. Also a fast and wide payment method .. we can send and receive bitcoin from people outside our country with ease. And a small fee. Different with paper money if you want to send money you must to atm or to bank .. by filling the difficult administration and pay a large fee
I think and believe that bitcoin is the financial future of the world, one day all transactions will not use cash so many people invest in bitcoin. And now is the best time to start our investment.
What would they use then to invest? cash is still important because bitcoin cannot survive without people trusting their cash to acquire bitcoins. If you fully understand what is bitcoin and cash you can easily differentiate them and it will not gonna come out to your mind that cash someday will disappear and bitcoin will rule the financial world.
Dont get me wrong but I think without cash bitcoin will be nothing. I mean you cant say that you're rich when your coin is just in your wallet. It's still a virtual currency. You need to convert it to fiat, have some cold cash in your hands then thats the time we can say that we're rich. Moreover, cash is widely use by all and well established.
Bitcoin is similar to cash but bitcoin is much much more secured plus you can have it with you around the globe without worrying about tax and its a very good investment since its value is steadily increasing.
I think bitcoin does not look like cash. Bitcoin is clearly digital and may be said to be safer and certainly more flexible but for the problem is accepted wherever of course cash will be prefer because almost in all stores and transactions. Everyone receives cash but is very difficult to spend using bitcoin
Bitcoin is cash as well, but it takes a process to cashout it. while the bitcoin's fluctuating price has been proven to be profitable, so many advantages have been proven by people. So many also some people use bitcoin as a source of financial income. Proven clearly bitcoin can be said as cash that can be out on money and buy what we want, it's just we have to use the internet to access / manage it.
One of the reasons why people love using bitcoins because its fast and easy to use. If all people just realize the convenience of using bitcoin they might prefer using it than cash, just imagine when your sending money thru your loveones using bitcoins anytime, anywhere unlike money remitances which sucks a lot of fees in your pocket.
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.
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.
Bitcoin is similar to cash but bitcoin is much much more secured plus you can have it with you around the globe without worrying about tax and its a very good investment since its value is steadily increasing.
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.
Of all points you mentioned I prefer points 3) Fast, worldwide transactions at your fingertips, because Bitcoin is similar to cash in the internet world capable of connecting every internet user worldwide, and can send money anytime and anywhere . "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.
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.
This, central banks keep printing money that they can use before it enters the economy while you get your money after it, so while you need to earn every dollar with a lot of work they can just print it, it is one of the biggest scams in the world. 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.
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