Why have Bitcoin instead of cash? - page 96.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: BlockEye on November 21, 2016, 11:42:18 AM

Quote from: groll on November 21, 2016, 11:13:35 AM

Quote from: mirakal on November 21, 2016, 09:57:52 AM

Quote from: MWesterweele on November 20, 2016, 01:04:37 PM

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

Bitcoin just use for alternative not for priority use.. cash still the main to be use bitcoin will not have a value if there is no cash or fiat.
Bitcoin is a digital currency that you can be use only for online payment processor.. many online payment processor but the problem is its more hassle than using bitcoin even you do not need to verify your walelt you can use it and transact online just like here in my country..

danherbias07

legendary

Activity: 3248

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: BlockEye on November 21, 2016, 11:42:18 AM

Quote from: groll on November 21, 2016, 11:13:35 AM

Quote from: mirakal on November 21, 2016, 09:57:52 AM

Quote from: MWesterweele on November 20, 2016, 01:04:37 PM

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

It was way back when it suddenly fall down. We still need some emergency money so it is really different for me specially when establishments would still prefer cash on hand and that wont change for a long time.

BlockEye

legendary

Activity: 1148

Merit: 1097

Bounty Mngr & Article Writer https://goo.gl/p4Agsh

Quote from: groll on November 21, 2016, 11:13:35 AM

Quote from: mirakal on November 21, 2016, 09:57:52 AM

Quote from: MWesterweele on November 20, 2016, 01:04:37 PM

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: groll on November 21, 2016, 11:13:35 AM

Quote from: mirakal on November 21, 2016, 09:57:52 AM

Quote from: MWesterweele on November 20, 2016, 01:04:37 PM

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

As of now, most of the stores are still not accepting bitcoins for they don't even have an idea of what bitcoin really is. But I do believe that in the future we will use bitcoins as primary currency or if not then another digital currency that is being regulated and governed by an agency of an international or local government.

groll

sr. member

Activity: 336

Merit: 250

Quote from: mirakal on November 21, 2016, 09:57:52 AM

Quote from: MWesterweele on November 20, 2016, 01:04:37 PM

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: MWesterweele on November 20, 2016, 01:04:37 PM

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

MWesterweele

hero member

Activity: 1372

Merit: 564

Quote from: Bitcoinbro on June 01, 2016, 11:28:46 PM

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from bank you can trace it not like bitcoin.

Mastsetad

sr. member

Activity: 672

Merit: 250

Quote from: socks435 on November 19, 2016, 02:35:15 PM

Quote from: Mastsetad on November 19, 2016, 12:29:33 PM

Quote from: erikalui on November 19, 2016, 11:30:47 AM

Anyone from India now would be scared of cash due to demonetization and now everyone has understood how important virtual currency is. Now those who don't own debit cards also would realize its value and it would be the right time for our Government to adopt blockchain technology when so many people today are suffering due to cash. Bitcoins, unfortunately, are not adopted by our general stores but hopefully they use it for ease of cashless transactions.

The ones who will come to know about it would probably start using it if they are not card holders as you said, because it would be hard for them to keep the money if they don't have cards etc so bitcoin is the solution for them at the moment.

Well i think they have still bank atm that can be still as their alternative mode of payment but yeah bitcoin can be good too to use as alternative but do you think many more people from india can voted bitcoin.? since many banks and other business there that can also be use as their alternative..

The ones who prefer banking systems would probably turn their faces to them now, but if there are people who does not like those systems like a lot of bitcoin users and they like keeping their money with them then they will surely prefer bitcoin as it is the only way available for them then.

arseaboy

hero member

Activity: 644

Merit: 500

Quote from: markyminer on November 20, 2016, 04:40:41 AM

Quote from: Mastsetad on November 19, 2016, 12:29:33 PM

Quote from: erikalui on November 19, 2016, 11:30:47 AM

Anyone from India now would be scared of cash due to demonetization and now everyone has understood how important virtual currency is. Now those who don't own debit cards also would realize its value and it would be the right time for our Government to adopt blockchain technology when so many people today are suffering due to cash. Bitcoins, unfortunately, are not adopted by our general stores but hopefully they use it for ease of cashless transactions.

The ones who will come to know about it would probably start using it if they are not card holders as you said, because it would be hard for them to keep the money if they don't have cards etc so bitcoin is the solution for them at the moment.

yes in fact most of the people do not know about the benefit of bitcoin and that is the reason that they do not like to use bitcoin, once they become aware of the benefit of bitcoin they will certainly start using bitcoin,

That's true mate. Bitcoins should be formally introduced worldwide so that more people will be much aware about it. Not only a good introduction but also the benefits that can give to them in short or even in long term investment.

Techie5879

member

Activity: 168

Merit: 11

Back from the Dead!

Its a decentralized one, and that means that governments alone cant change its value. It depends on the production, mining, mass adoption and usage of the bitcoins. Also, I think security and universal accessibility is a very good point mentioned by you and I support you.

markyminer

hero member

Activity: 532

Merit: 500

Quote from: Mastsetad on November 19, 2016, 12:29:33 PM

Quote from: erikalui on November 19, 2016, 11:30:47 AM

Anyone from India now would be scared of cash due to demonetization and now everyone has understood how important virtual currency is. Now those who don't own debit cards also would realize its value and it would be the right time for our Government to adopt blockchain technology when so many people today are suffering due to cash. Bitcoins, unfortunately, are not adopted by our general stores but hopefully they use it for ease of cashless transactions.

The ones who will come to know about it would probably start using it if they are not card holders as you said, because it would be hard for them to keep the money if they don't have cards etc so bitcoin is the solution for them at the moment.

yes in fact most of the people do not know about the benefit of bitcoin and that is the reason that they do not like to use bitcoin, once they become aware of the benefit of bitcoin they will certainly start using bitcoin,

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Navihawk on November 19, 2016, 09:06:02 PM

Quote from: vasrasus on November 19, 2016, 08:59:19 PM

5. There is no tax yet or charges in bitcoin.

We can transact buy anything that is available in bitcoin without worrying the tax ir could be. We can pay and send money to others without tax thats been too large sometimes when you have need to send money than in real life when we go in payment center/ or transaction center it will cost you amount that amount you can still send to the people you want.

Only to a certain extent; the IRS just demanded records from Coinbase on all transactions since 2013, which suggests that they are going to be nailing a few people for tax evasion if anything comes up.

Why would anyone use Coinbase if they dealt with thousands of bitcoins? Though the IRS could be trying to trace some transactions which might or might not be linked to big whales looking for tax evasion, either by accepting or eliminating them from consideration. Besides, they could also be building a database of wallets and real people using these wallets, for future reference...

Anyway, using Coinbase may be a potentially risky business, especially if you are an American citizen

Navihawk

newbie

Activity: 15

Merit: 0

Quote from: vasrasus on November 19, 2016, 08:59:19 PM

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.

5. There is no tax yet or charges in bitcoin.

We can transact buy anything that is available in bitcoin without worrying the tax ir could be. We can pay and send money to others without tax thats been too large sometimes when you have need to send money than in real life when we go in payment center/ or transaction center it will cost you amount that amount you can still send to the people you want.

Only to a certain extent; the IRS just demanded records from Coinbase on all transactions since 2013, which suggests that they are going to be nailing a few people for tax evasion if anything comes up.

vasrasus

hero member

Activity: 946

Merit: 500

Bcnex - The Ultimate Blockchain Trading Platform

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.

5. There is no tax yet or charges in bitcoin.

We can transact buy anything that is available in bitcoin without worrying the tax ir could be. We can pay and send money to others without tax thats been too large sometimes when you have need to send money than in real life when we go in payment center/ or transaction center it will cost you amount that amount you can still send to the people you want.

FlamingFingers

sr. member

Activity: 1344

Merit: 288

Actually, I'm holding and earning Bitcoins to covert them into cash as I can't spend any Bitcoin here(don't blame me, I'm in a country that knows nothing about Bitcoin!). Besides, Bitcoin fluctuates so fast(one hour, it worth 716.18$, the second, it worth 608.01$!!!), you can't depend on it as daily currency.

stadus

legendary

Activity: 3080

Merit: 1292

Hhampuz for Campaign management

Quote from: sakinaka on November 19, 2016, 06:31:29 PM

Bitcoin is appreciating over time but cash isn't. Cash is subject to a wild inflation. Facts are here.

True, you can's trust cash as your investment because it will not give you that. Use only cash for your spending needs but do not keep all your holdings in cash, there's always a way which are bitcoins or buying gold as you investment.

Think of your future if you want to live a comfortable life because in this world we need to be smart and think always outside the box.

sakinaka

sr. member

Activity: 325

Merit: 250

Decentralised Amazon & ICO Hub

Bitcoin is appreciating over time but cash isn't. Cash is subject to a wild inflation. Facts are here.

Rinder

hero member

Activity: 868

Merit: 500

Those people just took a step ahead when they bought bitcoin above 1000 dollars, the market expected to bitcoin reach 2000 and above values on those time, but what really happened were the community werent ready to those value, some early adopter went rich with those period, the lesson to learn is never invest before search. The last prices of bitcoin showed it could be a bubble, several exchanged faced several problems on those. Nowadays bitcoin has more stability as well big community supporting it, and the potencial of bitcoin is just showing off. Banks does have too many control over fiat money, if they bankrupt you will pay the bill.

Navihawk

newbie

Activity: 15

Merit: 0

Quote from: BIT-Sharon on July 08, 2015, 02:33:37 AM

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

It depends on the country. The IRS in the USA considers bitcoin as a commodity, but they are actively trying to find tax dodgers who use bitcoin to evade said taxes.

Monnt

legendary

Activity: 938

Merit: 1002

Quote from: Sithara007 on November 19, 2016, 11:15:29 AM

Quote from: amacar2 on November 19, 2016, 10:44:30 AM

You are not looking at one major advantage of holding bitcoin rather than fiat/cash. Look at how purchasing power of each fiat have decreased over last few years due to huge inflation. While price of bitcoin and purchasing power of 1 bitcoin have skyrocketed in last few years. So better to store earnings in bitcoin rather than in cash to keep your hard earned money safe from such inflation of your local fiat.

Tell this to someone who had purchased bitcoins at $1,200 per coin in 2013. Bitcoin is highly volatile, and that is the reason why most of the users don't want to store their wealth in coins. I agree with your claim that the purchasing power of BTC has sky rocketed over the past 6-7 months. But what if the purchasing power again crashes in the future?

There aren't many users who have purchased bitcoins at $1200 or more and if they did, that was not a wise decision as the price did not last for a long time and it kept hiking by $200 during 2014 which is why it fell pretty soon after that. BTC is known for its volatality and like forex, it cannot be trusted for our daily activities and should only be used if you have extra cash to use as an investment.

Topic: Why have Bitcoin instead of cash? - page 96. (Read 246148 times)