Why have Bitcoin instead of cash? - page 64.

kuyaJ

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Quote from: Sir Paijoe on May 18, 2017, 04:33:08 AM

Certainly hope bitcoin will be the new era of currency so price bitcoin 1 satoshi = 1 USD, many positive expectations about bitcoin so I prefer using bitcoin for internet transaction than bank transfer.

I'm not really sure to this regarding 1 satoshi to be equal to 1 USD since Bitcoin has only 8 decimals in its extent but I don't really know if it can still be extended though. Is it a but too much with that amount? Because if it does and not possible to extend Bitcoin and let's say Bitcoin has been used globally in daily exchange or in transactions in the world market then the prices of the products in Bitcoin would rise which will trigger the fall of Bitcoin and the reason as to the users to find another coin but I think this is impossible to happen really because it is not realistic.

kuyaJ

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Quote from: LevshaK1 on May 18, 2017, 04:09:22 AM

Quote from: bryant.coleman on May 18, 2017, 03:41:45 AM

Quote from: 7daystodie on May 18, 2017, 03:24:52 AM

Yes, we can not be sure of the future popularity of bitcoin, because much depends on the laws of the country. The government wants to benefit from the bitcoin and if it does not, it will prohibit it.

Popularity sometimes depends on the legal status, but as we have seen from the past instances Bitcoin can get popular even in nations where it is banned outright. A perfect example is that of China. The number of Bitcoin users in China continued to grow in 2014 and 2015, despite the government and the authorities coming with all sort of restrictions against the crypto-currency.

Yes, a government ban can be useless if users really need it. For example, drugs are prohibited in many countries, but this does not prevent many from building a business on them. The same with bitcoin.

Bitcoin needs the support of the countries so there will be no conflict with users and their respective government. It also needs a regulation that will really put everything in order like anti-money laundering but it needs to be fair to both parties because if not then it is much better that they should go with their separate ways.

Sir Paijoe

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Certainly hope bitcoin will be the new era of currency so price bitcoin 1 satoshi = 1 USD, many positive expectations about bitcoin so I prefer using bitcoin for internet transaction than bank transfer.

HatakeKakashi

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Because if you have bitcoin you can transact in online world you can anything you want in online shopping like buying gadgets and gift from love ones. I think the one reason also why we have bitcoin instead of cash because if you have bitcoin you can earn a lot of money so you can get a lot of cash becuse bitcoin the price is very high. Because if you have only cash they cannot increase the price and if you have cash for sure you will buy anything you see like wants . So its better if you have bitcoin instead of bitcoin.

LevshaK1

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Quote from: bryant.coleman on May 18, 2017, 03:41:45 AM

Quote from: 7daystodie on May 18, 2017, 03:24:52 AM

Yes, we can not be sure of the future popularity of bitcoin, because much depends on the laws of the country. The government wants to benefit from the bitcoin and if it does not, it will prohibit it.

Popularity sometimes depends on the legal status, but as we have seen from the past instances Bitcoin can get popular even in nations where it is banned outright. A perfect example is that of China. The number of Bitcoin users in China continued to grow in 2014 and 2015, despite the government and the authorities coming with all sort of restrictions against the crypto-currency.

Yes, a government ban can be useless if users really need it. For example, drugs are prohibited in many countries, but this does not prevent many from building a business on them. The same with bitcoin.

bitcoinisbest

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Quote from: Hypnosis00 on May 17, 2017, 09:23:55 AM

Bitcoin is the best form of cash for me because we can use it to buy things and also earn money if we will put it on an investment like in the altcoins that are keep growing now and that is the reason i think that bitcoin is better than cash.

BTC is better because of its rising popularity and widely acceptance by masses slowly. I do not agree that alt coin in form of investment currently because majority of them which are created will not have value in coming time or no exchange will keep them for long as they are useless coin .

So one needs to find out altcoin which will have value even after one year.

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Quote from: 7daystodie on May 18, 2017, 03:24:52 AM

Yes, we can not be sure of the future popularity of bitcoin, because much depends on the laws of the country. The government wants to benefit from the bitcoin and if it does not, it will prohibit it.

Popularity sometimes depends on the legal status, but as we have seen from the past instances Bitcoin can get popular even in nations where it is banned outright. A perfect example is that of China. The number of Bitcoin users in China continued to grow in 2014 and 2015, despite the government and the authorities coming with all sort of restrictions against the crypto-currency.

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Quote from: 7daystodie on May 18, 2017, 03:24:52 AM

Quote from: freedomgo on May 18, 2017, 02:04:35 AM

Quote from: Dhimas Kanjeng on May 18, 2017, 01:03:34 AM

I think it depends on the type of transaction, for the moment we can not use the bitcoin transactions directly so that we still have to have the cash. bitcoin is great to use for online transactions and send money.

Even in the future, cash will still be here and I will never think that bitcoin will be more popular in the future even if it has already find its success.
People will use what the government will tell them to use because they do not want to break a law and they will remain compliance to avoid any problem in the future. There are some countries who ban bitcoin, they must be protecting their own currency and I believe our government can make it anytime.

Yes, we can not be sure of the future popularity of bitcoin, because much depends on the laws of the country. The government wants to benefit from the bitcoin and if it does not, it will prohibit it.

Sure thing they do.
If there is profit then they will try to control it.
Creating something even if it is fake, tax or other way they will do it just for their own benefit.
That is why mamy of us here wants to try something new.
I guess we are all sick of the same sh1t that is happening in our own countries.

7daystodie

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Quote from: freedomgo on May 18, 2017, 02:04:35 AM

Quote from: Dhimas Kanjeng on May 18, 2017, 01:03:34 AM

I think it depends on the type of transaction, for the moment we can not use the bitcoin transactions directly so that we still have to have the cash. bitcoin is great to use for online transactions and send money.

Even in the future, cash will still be here and I will never think that bitcoin will be more popular in the future even if it has already find its success.
People will use what the government will tell them to use because they do not want to break a law and they will remain compliance to avoid any problem in the future. There are some countries who ban bitcoin, they must be protecting their own currency and I believe our government can make it anytime.

Yes, we can not be sure of the future popularity of bitcoin, because much depends on the laws of the country. The government wants to benefit from the bitcoin and if it does not, it will prohibit it.

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Quote from: Dhimas Kanjeng on May 18, 2017, 01:03:34 AM

I think it depends on the type of transaction, for the moment we can not use the bitcoin transactions directly so that we still have to have the cash. bitcoin is great to use for online transactions and send money.

Even in the future, cash will still be here and I will never think that bitcoin will be more popular in the future even if it has already find its success.
People will use what the government will tell them to use because they do not want to break a law and they will remain compliance to avoid any problem in the future. There are some countries who ban bitcoin, they must be protecting their own currency and I believe our government can make it anytime.

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Quote from: Hypnosis00 on May 17, 2017, 09:23:55 AM

Bitcoin is the best form of cash for me because we can use it to buy things and also earn money if we will put it on an investment like in the altcoins that are keep growing now and that is the reason i think that bitcoin is better than cash.

Yes that's true that we can buy things or any digital things/goods using bitcoin but still cash is better than bitcoin you can't use bitcoin in your daily needs like foods or medicines. Though there's an advantage of using bitcoin from cash and that's only here online, but even whatever happens people cant deny that cash has more advantages for our daily needs you cant buy foods or pizza in physical store with bitcoin and waiting 30 mins to 1 hour or more to get 1-3 confirmation of your transaction its gonna annoying from the owner of the store/seller or even the buyer to wait such a ling time and you have to pay ridiculous fee to make it confirm faster.

Dhimas Kanjeng

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I think it depends on the type of transaction, for the moment we can not use the bitcoin transactions directly so that we still have to have the cash. bitcoin is great to use for online transactions and send money.

Ewinsane

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Quote from: Hypnosis00 on May 17, 2017, 09:23:55 AM

Bitcoin is the best form of cash for me because we can use it to buy things and also earn money if we will put it on an investment like in the altcoins that are keep growing now and that is the reason i think that bitcoin is better than cash.

yeah i also though that bitcoin is the best currency than cash and you are right that we can buy anything from anywhere with bitcoin online and we know that bitcoin increasing its value so bitcoin is much more profitable currency for us and bitcoin also secure than cash.

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Quote from: makolz26 on May 17, 2017, 09:02:50 AM

Quote from: gabmen on May 17, 2017, 07:34:26 AM

Quote from: ZzV1Finn on May 15, 2017, 01:46:50 PM

Quote from: Ayiranorea on May 15, 2017, 11:20:48 AM

Though bitcoin have got more and more popularity bitcoin still can't replace cash. People can get benefited of holding bitcoin than holding cash. On the whole bitcoin is dependent on the fiat system directly or indirectly. But fiat system is not at all dependent.

And in the future I doubt that bitcoin will completely replace paper money, most likely it will be an additional currency.

true. and I really think there's no need to replace paper money. bitcoin will br beneficial to everyone as it is. it can be a great alternative to fiat and is best for online and digital transactions. imagine the convenience of being able to maximize the two currencies

There is really no need to do it, people are billions, and bitcoin is only millions, so it will just ruin the economy and can have scarcity. As well as it is hard to implement that bitcoin will replace cash, I know none of the country will agree with this. We should be just happy that we can use bitcoin as way like cash as well as we are using it as way of trading/investing

This is not the root of the problem or main problem if you please

After all, Bitcoin is infinitely divisible, and if 21¹⁴ satoshi is not enough, you can further divide them into subsatoshi units as much and as long as needed. This is not a problem (basically, it is a minor technical issue per se). The real problem is that the number of coins will still remain the same no matter how hard or how much you divide a single bitcoin. This limited number of coins in circulation (with a strong tendency to diminishing) would terribly hinder the growth of the economy up to a point where further growth would be completely impossible. In fact, it would lead first to stagnation and then to decline in economic activity (rather sooner than later, as they say)

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Bitcoin is the best form of cash for me because we can use it to buy things and also earn money if we will put it on an investment like in the altcoins that are keep growing now and that is the reason i think that bitcoin is better than cash.

makolz26

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Quote from: gabmen on May 17, 2017, 07:34:26 AM

Quote from: ZzV1Finn on May 15, 2017, 01:46:50 PM

Quote from: Ayiranorea on May 15, 2017, 11:20:48 AM

Though bitcoin have got more and more popularity bitcoin still can't replace cash. People can get benefited of holding bitcoin than holding cash. On the whole bitcoin is dependent on the fiat system directly or indirectly. But fiat system is not at all dependent.

And in the future I doubt that bitcoin will completely replace paper money, most likely it will be an additional currency.

true. and I really think there's no need to replace paper money. bitcoin will br beneficial to everyone as it is. it can be a great alternative to fiat and is best for online and digital transactions. imagine the convenience of being able to maximize the two currencies

There is really no need to do it, people are billions, and bitcoin is only millions, so it will just ruin the economy and can have scarcity. As well as it is hard to implement that bitcoin will replace cash, I know none of the country will agree with this. We should be just happy that we can use bitcoin as way like cash as well as we are using it as way of trading/investing.

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Quote from: ZzV1Finn on May 15, 2017, 01:46:50 PM

Quote from: Ayiranorea on May 15, 2017, 11:20:48 AM

Though bitcoin have got more and more popularity bitcoin still can't replace cash. People can get benefited of holding bitcoin than holding cash. On the whole bitcoin is dependent on the fiat system directly or indirectly. But fiat system is not at all dependent.

And in the future I doubt that bitcoin will completely replace paper money, most likely it will be an additional currency.

true. and I really think there's no need to replace paper money. bitcoin will br beneficial to everyone as it is. it can be a great alternative to fiat and is best for online and digital transactions. imagine the convenience of being able to maximize the two currencies

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Quote from: Fatanut on May 15, 2017, 09:33:53 AM

Quote from: bitbunnny on May 15, 2017, 04:27:21 AM

Bitcoin is much more convenient than cash. Having in mind the big current price you can dispose a large amount of money without carying any cash with you. The security is good, you still have also a good amount of anonimity and you don't have to feel uncomfortable having a big amount of money with you.

There's no point converting your cash to bitcoins if these are your reasons for doing so. First, doesn't matter how much or how little the price of bitcoin is. With an ATM card, you can carry tons of money with your without carrying any physical cash. The security of banks are pretty much unhackable these days. Anonymity shouldn't be an issue since the government already know that you have had that much money before (since you're going to convert from fiat to bitcoins)

The security of banks is not equal to the security of your payment card

I personally know a few cases when money was stolen from such cards. In one such case, a wife of my friend lost her card (or it was stolen), and the money had been quickly withdrawn from the card balance before she found out that the card was stolen (lost). In fact, she found it out only when she received an sms that her money was essentially gone already. You can read about the multitude of such cases in Internet. The lesson to take home is that it is still dangerous to keep large amounts of money on your card balance if the funds could be withdrawn at one go

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Quote from: Ayiranorea on May 15, 2017, 11:20:48 AM

Though bitcoin have got more and more popularity bitcoin still can't replace cash. People can get benefited of holding bitcoin than holding cash. On the whole bitcoin is dependent on the fiat system directly or indirectly. But fiat system is not at all dependent.

And in the future I doubt that bitcoin will completely replace paper money, most likely it will be an additional currency.

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Quote from: rhamzter on May 09, 2017, 03:29:16 PM

We have Bitcoin instead of cash because bitcoin is easy to use especially in online marketing and business rather than cash, because cash is use on the item you want to buy in there market, store and etc.

I think the main reason why we should have Bitcoin instead of cash is that it is more awesome and it is a long term investment. You can earn more and more money and profit with Bitcoin

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