Topic: Why have Bitcoin instead of cash? - page 71. (Read 246148 times)
You forgot mention your friend about 40's and 90's movies where villain use to stole your bag filled with million bucks! Imagine with the help of bitcoin you can just walk anywhere in the world carrying billions in your digital device. There is no crazy way that can help others to steal it from you. Well that is part of security of bitcoin. Do tell your friend about its complex nature, how it is mined with help of supercomputer and formulas. It is confirmed by thousands of block confirmation to protect and prove your transaction existed. In fraction of seconds all these things happen which costs, electricity, heat and noise production and man power to perform that bitcoin transaction. That is what you sent and not just "nothing".
you forgot to mention low fees.
Low fee is a major factor that makes it better than physical cash. But the same is not effective for long, because at times the fee vary depending on the price move and at increased traffic transaction get stuck on the network. To solve this increased fee need to be placed.you forgot to mention low fees.
That's part of the reasons I prefer Bitcoin transfer overseas than fiat payment processors. So those trying to hype and monetize Bitcoin should stop and let's have a low transaction cryptocurrency.
you forgot to mention low fees.
Low fee is a major factor that makes it better than physical cash. But the same is not effective for long, because at times the fee vary depending on the price move and at increased traffic transaction get stuck on the network. To solve this increased fee need to be placed.This common scenario due to sudden increase on price and volume of Bitcoin user, So it usual that miners will demand higher fee because the difficulty on finding block was more difficult compare on past years. For me , It is ok for them to demand higher fee, Just avoid multiple sending of Bitcoin to other wallet so that you can limit the transaction fee cost for all your transaction. A friendly advice, try to use coins.ph wallet app and introduce it to your friend. Because it offers a free transaction for a same wallet transaction.
You are telling about web wallet and it is not recommened to used web wallet to store bitcoins so let the fees go high but your invested bitcoins are saved because web wallet can get scam and you cannot do anything. In coming days when everything purchasing will become online that time Bitcoin will be very usable and even profitable as you will get good offers to purchase through bitcoin
you forgot to mention low fees.
Low fee is a major factor that makes it better than physical cash. But the same is not effective for long, because at times the fee vary depending on the price move and at increased traffic transaction get stuck on the network. To solve this increased fee need to be placed.This common scenario due to sudden increase on price and volume of Bitcoin user, So it usual that miners will demand higher fee because the difficulty on finding block was more difficult compare on past years. For me , It is ok for them to demand higher fee, Just avoid multiple sending of Bitcoin to other wallet so that you can limit the transaction fee cost for all your transaction. A friendly advice, try to use coins.ph wallet app and introduce it to your friend. Because it offers a free transaction for a same wallet transaction.
you forgot to mention low fees.
Low fee is a major factor that makes it better than physical cash. But the same is not effective for long, because at times the fee vary depending on the price move and at increased traffic transaction get stuck on the network. To solve this increased fee need to be placed.I've been using Electrum lately and the minimum fee is 0.001BTC. That's one dollar for one transaction. I'm thinking that it's not "low fee" anymore. Even the online wallet that I've been using has added transaction fee. Back then it was free and fast. One thing that we cannot do in bitcoins is micro transaction because of these fees. Yes, it's still low compared to how much you're going to pay for when you're going to use Paypal. But if you're just going to send 1 dollar and have 0.001BTC for transaction fee, the fee is 100% equivalent of the amount you're going to send.
Too long; Didn't read: "Low fees" only apply to bigger transactions nowadays. For micro transactions, these fees are ridiculous.
you forgot to mention low fees.
I think that is in the past, transacting bitcoin with fast confirmations and low fees are history, nowadays you need to add more fees so that your transaction can be comfirmed quickly, without these additional fees, it will take you almost a day to get or receive that bitcoin. I think I love bitcoin and I invest most of money here because it is the future of currency and also transacting currencies.Bitcoins system can be implemented by many more systems and be the root of the new innovative discoveries.
Of course, Blockchain has improved and before, the reason why the transaction with bitcoin is fast is because the number of transactions before was significantly low if we are going to compare to now. That's why they implemented having different and higher fees to overcome the size of blocks that need to be confirmed and in order for them to prioritize some transactions. That is also to fuel the miners to confirm our transactions, in return. In order for them to gain profit.
Well i don't mind paying a little bit more for faster transactions as there was a time i've experienced days before my transaction pushed through. And i agree that since more people are becoming bitcoin users, this would be a way to make it convenient for us though the fees would be a little higher
you forgot to mention low fees.
Low fee is a major factor that makes it better than physical cash. But the same is not effective for long, because at times the fee vary depending on the price move and at increased traffic transaction get stuck on the network. To solve this increased fee need to be placed. you forgot to mention low fees.
I think that is in the past, transacting bitcoin with fast confirmations and low fees are history, nowadays you need to add more fees so that your transaction can be comfirmed quickly, without these additional fees, it will take you almost a day to get or receive that bitcoin. I think I love bitcoin and I invest most of money here because it is the future of currency and also transacting currencies.Bitcoins system can be implemented by many more systems and be the root of the new innovative discoveries.
Of course, Blockchain has improved and before, the reason why the transaction with bitcoin is fast is because the number of transactions before was significantly low if we are going to compare to now. That's why they implemented having different and higher fees to overcome the size of blocks that need to be confirmed and in order for them to prioritize some transactions. That is also to fuel the miners to confirm our transactions, in return. In order for them to gain profit.
you forgot to mention low fees.
I think that is in the past, transacting bitcoin with fast confirmations and low fees are history, nowadays you need to add more fees so that your transaction can be comfirmed quickly, without these additional fees, it will take you almost a day to get or receive that bitcoin. I think I love bitcoin and I invest most of money here because it is the future of currency and also transacting currencies.Bitcoins system can be implemented by many more systems and be the root of the new innovative discoveries.
You should have bitcoin instead of cash because, The valuable of cash will be decrease day by day. Just give you an example: 5 years ago , you bought 3 pieces of fried chicken with only 1 buck, but now you can only buy 2 pieces of fried chicken for 1,5 buck. So It's mean the valuable of your cash is decreasing. But with bitcoin, owning it = do a investment. But the good point is , the price of bitcoin always going up. So better than cash ? right ?
If that's the inflation rate in your country, even the increase in the price of bitcoin wouldn't do that much. It can only limit your loss but with that inflation rate, it's almost as if you didn't earn anything at all from holding bitcoins. I would convert all of my fiat into bitcoins if I were you. Or are was it just a mere example based on nothing?
The inflation is real but I know that there's also an increase in the prices of the things that they sell. Sometimes the price of the foods (e.g. chicken) increases because it's not their season. Sometimes it's the fishes that costs much. It's not necessarily inflation that made the price go up.
Inflation sometimes were too small to notice, prices may defends on its demand and supply or season. Bitcoin value were depends on the transactions that were in market , while our fiats is on our government status and on USD value. Bitcoin that have low transactions are potential to become a safe haven that decreases the value of having long-term inflation. It offers a new alternative on how people actually do savings and business.
You should have bitcoin instead of cash because, The valuable of cash will be decrease day by day. Just give you an example: 5 years ago , you bought 3 pieces of fried chicken with only 1 buck, but now you can only buy 2 pieces of fried chicken for 1,5 buck. So It's mean the valuable of your cash is decreasing. But with bitcoin, owning it = do a investment. But the good point is , the price of bitcoin always going up. So better than cash ? right ?
If that's the inflation rate in your country, even the increase in the price of bitcoin wouldn't do that much. It can only limit your loss but with that inflation rate, it's almost as if you didn't earn anything at all from holding bitcoins. I would convert all of my fiat into bitcoins if I were you. Or are was it just a mere example based on nothing?
The inflation is real but I know that there's also an increase in the prices of the things that they sell. Sometimes the price of the foods (e.g. chicken) increases because it's not their season. Sometimes it's the fishes that costs much. It's not necessarily inflation that made the price go up.
You should have bitcoin instead of cash because, The valuable of cash will be decrease day by day. Just give you an example: 5 years ago , you bought 3 pieces of fried chicken with only 1 buck, but now you can only buy 2 pieces of fried chicken for 1,5 buck. So It's mean the valuable of your cash is decreasing. But with bitcoin, owning it = do a investment. But the good point is , the price of bitcoin always going up. So better than cash ? right ?
Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
Bitcoin is better than cash, reason is it is decentralized, more secured, easy to use and easy to convert. Major benefit is by saving the btc you can easily get the benefit from it. where as in the case of currency the value of currency goes down due to inflation.
If we talk about savings and accessibility it is a positive point for bitcoin since fiat currency cannot do that thing. Bitcoin can be used around the globe without converting it to fiat currency. But let us not forget to also keep hold of paper money since not all areas in all country has an internet connection especially the outskirts and that is why I prefer bitcoins for savings and paper money for purchases.
Yes you buy btc and hold them and wait for the price to rise and then sell them for $. I heard companies are working on to bring internet to more areas around the world. I heard about using drones with Wi-Fi antennas that people can connect to for free, says Zuckerberg. So we can access internet more easily in the future and it will benefit bitcoin! Think about it, internet would be omnipresent in the future.
I don't think with the increase of the Internet hotspots available, the number of bitcoin users will increase as well. Because if the number of Internet users is already billions and we're just about a million. I also don't see any reason why they should fund this project.
There's internet connection almost everywhere and if they are going to put these drones/droids in remote places, there still wouldn't be internet connection at that place since the first reason why they didn't have an internet connection was because the signal reception from any ISP is very poor. So the droid/drone will just experience the exact same thing. Unless of course if they are going to add something to the droid/drone so it can get internet connection even when it's located almost off-grid.
Another reason is that people that lives in a remote area probably don't even know how to use a computer so putting an Internet connection to places like those will be pointless. If they are going to put these drones in the city, it will be pointless as well as there's already internet connection and WiFi hotspots all around the city.
I think it's obvious that bitcoin is a technology of the future.and cash is not money that is used to pay in the future. everything will be all-digital right ?
I'm not sure that everything will be completely digital. There are many countries where this system is poorly developed - there paper money is very popular. The world is not all ready for the transition to a digital currency
Not just some countries but most of them.
There are always people out there that will use it. Why not? It is still the easier way to trade it to food or other necessities.
We are forgetting about the people who cant afford a credit card or will not be offered one just because they look like they dont have money.
So that paper that let them buy what they need will still be there for a long time.
Well it's simple it's cashless, can be used anywhere in the world or instantly you can get cash for it. It's price always rises while cash remains stagnant. It's simply easy ans highly secure to use. It easy to convert, saves our Fiat and gives us tax benefits. I feel your friend was a. Noon on this topic would advise you to bring him to this forum so he can earn more and next time he treats you with his Bitcoin earning.
you forgot to mention low fees.
Bitcoin instead of cash because of its fast transactions sending money anywhere that cost less fees. Freedom to save money in your wallet and easy to use. Easy to convert into with hassle free.
And the most important reason is that cash can get stolen or can be robbed but your bitcoins are really safe in your bitcoin wallet and no one will know how much wealth you are carrying so there is no scope of getting robbed by the thieves.
Bitcoin instead of cash because of its fast transactions sending money anywhere that cost less fees. Freedom to save money in your wallet and easy to use. Easy to convert into with hassle free.
Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
Bitcoin is better than cash, reason is it is decentralized, more secured, easy to use and easy to convert. Major benefit is by saving the btc you can easily get the benefit from it. where as in the case of currency the value of currency goes down due to inflation.
If we talk about savings and accessibility it is a positive point for bitcoin since fiat currency cannot do that thing. Bitcoin can be used around the globe without converting it to fiat currency. But let us not forget to also keep hold of paper money since not all areas in all country has an internet connection especially the outskirts and that is why I prefer bitcoins for savings and paper money for purchases.
Yes you buy btc and hold them and wait for the price to rise and then sell them for $. I heard companies are working on to bring internet to more areas around the world. I heard about using drones with Wi-Fi antennas that people can connect to for free, says Zuckerberg. So we can access internet more easily in the future and it will benefit bitcoin! Think about it, internet would be omnipresent in the future.
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