Topic: Why is the Dollar good and Bitcoin bad for people - page 5. (Read 834 times)

I came across this thread and I've got to say, there are some factually incorrect statements that need to be addressed. I'll try to keep it simple.

1. Money is a tool for trading goods and services, not something that prevents people from satisfying their needs and wants.
2. Both banking and crypto systems have their own ways to secure transactions, not just banking systems.
3. The value of any currency or asset, including bitcoins, can go up or down.
4. People use different payment systems and currencies for various reasons, not just to make a profit.

You know what they say, spreading lies is like playing with fire - it might not burn you, but it can definitely make people think you're up to no good!

Bitcoin is not just hard money but also a monetary network. Bitcoin is fairer and more transparent than the current fiat system we live in. In the midst of the financial crisis of 2008, the creator of Bitcoin left a message in the first block of the Bitcoin blockchain, known as the Genesis Block, quoting the headline of The Times: "Chancellor on brink of second bailout for banks." His idea was to create a fairer and better monetary system, a decentralized deflationary money in digital form that no one could control or print indefinitely.

During the financial crisis of 2008, central banks released massive amounts of newly printed money to save the banks. The cost of that bailout was paid by ordinary people like you and me because our money and savings lost value. The value decreased because the money created out of nothing and given to the banks devalued the money we earned through work. This injection of money into circulation causes inflation, which we can describe as a decrease in purchasing power. It is clear to everyone and felt by everyone that 100 euros today can buy much less than what the same 100 euros could buy a year ago. This is inflation, or a hidden tax that we all pay together. But we pay it with money we have to earn, while governments and banks pay it with money they create as needed and in whatever amounts they require, just like the creators of altcoins. This is the harsh reality of today's world.

When people use money, they don't necessarily or even usually give up the goods that they need. Unless we're talking about someone selling their things to get some money, it's not happening. People earn money by working or get money from this or that financial support source, dividends, etc.
Money is convenient as long as lots of people who have the things and services we require accept that money. Bitcoin isn't widely accepted as a direct form of payment, but it has high liquidity and can be exchanged for fiat fairly simply. Also, Bitcoin is often used as an investment rather than as a payment method, so it's okay that Bitcoin isn't as widespread as the USD.
Speaking of the USD, you can't use it directly as payment in most countries in the world; you'd need to exchange it for local fiat. That makes it not that different from Bitcoin because you need to exchange Bitcoin as well.
Money doesn't require banks or authorities to do anything, as long as people can agree on its value and trust in its value.

Why you can know that people will get bored and will not invest in bitcoin anymore. The fact is that bitcoin has gained so much adoption worldwide and is one of the best investments now. There is value and there are advantages to be had so people's trust in bitcoin is growing so much that the decision to invest because it has good prospects with the right level of accuracy.

If fear is as you convey then I also want to ask one thing. Is it possible when you run a business in the future that the business will not go bankrupt? Then how do we live this life, should we just follow it or dare to get out of the comfort zone to achieve success.

If you study how the world economy is played by governments or certain groups then you will come to the conclusion that authority and control is a bad system. Dollars, Euros, Pounds and other currencies have control and they are distributed through systematic agreements with various pretexts. So just focus on the goals and targets because what we need is not a system like before but a process that can work, because we seek profit from any process as a step towards financial freedom.

Your post history is nothing but garbage about Bitcoin. Okay you hate Bitcoin so why are you active in a Bitcoin forum. You want attention? Well you are not going to get any here. The internet is full of propaganda and lies about Bitcoin like the one you’re spreading here. You’re not doing anything new, the media has been against Bitcoin from the start and the public are still able to see through the lies and that’s why the Bitcoin community is waxing strong.

"Why is the Dollar good and Bitcoin bad for people" is your question and to answer this, I would like to go simply with looking at purchasing power of the US. dollar and Bitcoin over years. You can expand it to Satoshi per dollar chart.

Purchasing Power of the U.S. Dollar Over Time
Satoshi per dollar

The US. dollar has decrease of its purchasing power over time while conversely Bitcoin has its increase of purchasing power over years.

I thought as much because from the title of the post i knew it will have no relevance to the community and this show that this is another bitcoin hatter but why come to the bitcoin forum to say trash about bitcoin when clearly almost everyone here are bitcoin supporters so i still don’t get why OP went through the stress to create such a lengthy trash.

i think the OP is actually now trying to do us all a favour, by explaining that the fiat banking system creates units of currency at zero cost and then turns the receiver into a slave to pay the banks back

where as bitcoin has a system that people can use devices and electric to create the units (which dont need to then return the units to the creation device) but instead able to then offer them units to others in exchange for other items of value at or above the cost of creation to recoup their costs
(invest in materials and energy to create units to then sell for goods and services)

jamesNZ is now playing the antithesis game of saying the opposite to promote the obvious benefits of bitcoin
after all who wants a system of slavery to repay something created at no cost

But we don't need anyone to teach us about bitcoin. We may not be experts in finance or economics, but I think we know enough about bitcoin and what we're doing without anyone teaching us.

Good or bad Bitcoin, the best way is for the whole world to judge it. Just because you say it's bad doesn't mean it will be bad, just because I say it's good doesn't mean it will be good, looking at how the world treats it is the most accurate answer.

If I remember correctly, you are the only person left on the forum who still has a negative opinion on bitcoin. I don't know the reason behind it but if you really don't like bitcoin, you just ignore it and never pay attention to it. Just continue your love for USD, why do you like to attack others, what benefit does it bring to you?

I respect your opinion, I think everyone has the right to their opinion, right or wrong what they say, but they have the right to their opinion. Now it seems to me that you are forgetting one thing:

You can't have bitcoin out of nowhere, for example I ask you: do you have bitcoin? If you don't have bitcoin, you won't sit down and say: "Bitcoin appears now" and bitcoin appears. That's not how things work. For you to have 1 bitcoin you only have a few options:

1 - buy mining equipment: you will have to take your dollars and go buy the mining equipment and mine, this will involve paying for electricity so that the mining equipment works or mines the bitcoin

2 - work on some bitcoin exchange or crypto casino or signature campaign and get paid by bitcoin.

3 - deposit your dollars in the bank and buy bitcoin

see in these first 2 options you are providing a service and are being paid for that service, because bitcoin has value. If you deposited $1000 into your bank account and bought bitcoin, that bitcoin is your property that you keep in your wallet. When you sell depending on the price, you can get your $1000 back. For example, I buy my refills using bitcoin as a payment method.

you need to separate hate from knowledge. You can hate bitcoin, and that's your right, but you need to be impartial when talking about bitcoin and dollars

I have ones be like you before until I realized that the government are indirectly scammers. They created fiat and call it legal tender which they are manipulating frequently. The manipulation would behave been better or good if the price of the fiat is increasing but the government prefer to always decrease the fiat price of the country they are governing. Anyone that save his money in fiat will lose. That is the characteristics of fiat

Bitcoin is a speculative asset and better than an assets that only have devaluing design like the fiat and dollar is among them.

It took me to read the middle part until I realized this clearly is a word dump. Even through the middle I couldn’t understand exactly the point. Sorry, op but I see no real value in this post.

I don’t even want to bother checking it to point out what I may disagree in. I don’t understand what you are trying to conclude. Better if you can explain it in a fewer words. 

That's called educating people. I am educating people about Bitcoin. Because the internet is full of propaganda and lies about Bitcoin. The purpose of propaganda is to extract as much good money(fiat) from the public as possible and dump them bad money (bitcoins). That's why the public must be educated.

That doesn't make any sense whatsoever

You are basically saying that fiat that has no cap and is printed out of thin air without anything backing it, specially something like the dollar that is currently more of a Ponzi scheme where the government prints about a trillion of it every 100 days and then sells that "debt" to other countries is a "legitimate system" while Bitcoin which is being mined and has a cap so it can not be printed out of thin air and its supply is not creating "debt" is not!

I honestly stopped there and didn't bother with the rest of the wall of text about banks and loans, etc. lol

What protection else do you seek with bitcoin and you can't find?

Talk about security and privacy, you will discover all from the bitcoin network and the blockchain technology system, maybe you have to read about bitcoin nodes and what they are, then also go through some features of blockchain such as immutability, transparency, trust and more.

But were you just waking from a sleep or what, this is Bitcoin we are talking a about and not shitcoins, have you wondered why many are desperately interested in learning about bitcoin and adopting it for their daily transactions, acceptance of payments, investment asset and many more, this was because bitcoin has given some opportunities we could never have achieved with the use of fiat currencies, just look at 14 years of it's achievements and still counting with no compromise.

Another shity thread from a long term spammer and Bitcoin hater. No need reading this guys, it's just full of shit. Let's leave it for his likes

In order to satisfy their needs and wants people need goods and services. They need food, clothing, energy, furniture, a roof over their heads, clean streets, medical services, etc. However, when they join some payment system, such as banking, they give up goods and services for banknotes or deposits - something that cannot satisfy needs and wants. If you traded your house for a deposit you gave up a good that can satisfy a lot of basic needs, and in return, you got just numbers on the screen. Something like this: "234,899.95 USD".

For that reason, if a payment system is legit it has to be able to protect people by ensuring they get goods and services back. Banking payment systems do have such a protection. The proposed alternatives to those systems, known as crypto payment systems such as Bitcoin, do not have it.

If a US bank issued a loan or if the Federal Reserve subscribed to a government bond that gave rise to dollars, that is, numbers. For example. Granting a loan to a person means that a bank creates numbers out of thin air and puts them on a deposit account of that person. The person then goes to the market and trades the numbers for goods or services. Let's say they trade them for a house.

At first sight, this looks crazy. How a person who had nothing yesterday can have a house today just based on numbers issued by a bank? Why would anyone give up a house for a number? But it is not crazy because that number must be returned to the bank. Moreover, returning it is so important that in the case of default the bank will foreclose the house.

Essentially, what that means is that the banking system forces loan beneficiaries to work for those that hold dollars, or to sell them goods and services. Only in this way can they get the dollars and return them to the banks. In other words, via the system of pledged collaterals, loan contracts, government bonds, etc. the banks protect dollar holders and ensure they get goods and services back. For instance, if loan beneficiaries default on their loans and fail to return dollars to the banks, their property will be foreclosed and sold at auctions. Who will have access to those auctions? Well, the dollar holders. Banks issued dollars via loans and must accept them to liquidate unpaid loans. So if dollar holders don't get goods and services from loan beneficiaries on the market, they will get their foreclosed property at auctions. Of course, government bonds don't ensure getting back goods and services but they give the ability to fulfill a tax obligation. The government must accept dollars as a tax payment to be able to pay off their bonds subscribed to by the Federal Reserve.

But let's now go to Bitcoin. When someone says that bitcoins are just numbers on the screen, the automatic response by the Bitcoin proponents is this: "So are the dollars". They are basically saying that if you trade goods and services for the numbers issued by the Bitcoin system this is like trading them for the numbers issued by the US banking system. But this is of course not true. Unlike the banking systems, the Bitcoin system doesn't protect holders of its numbers.

The so-called Bitcoin miners who initially receive numbers from the system and then trade them for goods and services are not like loan beneficiaries in the banking systems. They are not forced by the system to return numbers to the system. So they are not forced to work for Bitcoin holders or sell them goods and services to get the numbers. Even if they got enormous amounts of tangible property for the numbers, they have zero obligation to return anything to anyone. The whole Bitcoin system is just a giant database showing the past and current number holders. There is literally no one and nothing in the system to protect people by ensuring they get goods and services back.

If you gave your house for bitcoin, the only thing that can save you is someone's good will to enter the system and give you some good or service. But if people get bored of bitcoins and don't want to invest in them anymore, you are left with nothing. You gave up a house, and in return you can't even get a haircut.

Of course, people mostly don't trade goods and services for bitcoins. They trade numbers issued by the banks - dollars, euros, pounds, etc. Bizarrely, they give up numbers that are good for them due to the said protection, to get numbers that are bad for them because they lack such protection. And they do that because someone and something convinced them that such bizarre trades will become massive in the future and earn them a lot of bank-issued numbers.