Topic: Why we need bitcoin... (Read 770 times)

We really need bitcoin as fallback if ever things go wrong, we have something to rely on. Most especially now that time is changing and moving fast, we have to adapt to the dynamic changes and transitions. Right now, most economies are prone to inflation more than the usual rate, hence, the devaluation of fiat money is slowly happening. Instead of having its price appreciated, it depreciates instead. Also, add up the shrinkflation happening, so most probably, in the future, we will really have to spend a lot over a small set of things that we used to buy for a cheap amount only.

Bitcoin being a store of value for the future is really something that someone who has the capacity should consider investing upon. It has so many advantages and benefits to offer today and most probably in the future as well. This could serve as a medium of exchange even after some time because blockchain is the next big thing and most of the things would certainly slowly transition to being digital and instant. We can be our very own banks and we won't undergo the hassle of consenting a third-party organization such as a bank to handle our funds because we can do it on our own.

Even While using cryptocurrency governments were able to keep people under control with the swipe of the hand, but they weren't able to take our funds under control. This is the true goodness of holding/having cryptocurrency over the traditional fiat. Right now it is quite hard to find more ways to make money in an active manner. Providing services in exchange for cryptocurrency and acceptance of bitcoin into already established businesses were the possibilities.

I think it depends on each person there are those who prefer and are comfortable investing in crypto, especially Bitcoin and vice versa there are also those who prefer to invest manually,
besides that we can see for ourselves that Bitcoin continues to develop every year and we don't know what will happen in the future

But the problem is that the government is still above us and with a swipe of their hand, they will be able to ban the use or acceptance of bitcoin inside the domain that they're governing, it's that easy for them especially if people are stupidly obedient and they don't think for them themselves, they can be easily manipulated. I think in the matter of financial freedom, it's not enough that we are just hodling, we also should be actively looking for a way to make more money.

That has been always like that but got worse. Unfortunately the only method US government figured out how economy wouldn't collapse was to injure it instead of killing it. I mean yes, compared to not printing money and collapsing, printing money does sound better, however I believe it could have been done a lot better and not like this.

In the end, FED will keep on printing more and more, the government debt will increase more and we are just going to live in a world where a pack of gum will cost $100 in the future. That is just a fact, we had people buying houses for $100 just like 100 years ago, today that money is good for a good meal at a nice place, and in maybe 20 maybe 50 or maybe 100 years we are going to see that as pack of gums money. Inflation will never end as and it is going to keep hurting people who live paycheck to paycheck and do not own anything.

The printing rate has doubled in these 5 years!  That's enough to destroy the economy.  Satoshi Nakamoto already understood what was going to happen next.  Many people used to call Bitcoin a scam but now they are investing in Bitcoin due to inflation.  We are now looking at what Satoshi understood a decade ago.  When someone has the power to control the economy, he uses it to his advantage, even if he destroys it.  That is what is happening now but the common people will suffer.  In order to have time, everyone should buy some bitcoins before the paper coins become worthless like toilet paper.

Why would there be no taxes? Mass adoption of Bitcoin doesn't mean taxes should go away, there wouldn't be a way of paying for public utilities. The issue I have with most tax systems involving crypto is that any conversion of currencies require that you pay a tax, which is excessive. But in an absolute crypto based economy, I wouldn't have a problem with crypto income being taxed. Obviously we need to pay for public utilities somehow, unless you have a better way.

Bitcoin is...well! in fact right now given its price, is where you have to have the balls and say I like bitcoin, I like this when it drops in price, seeing the markets in the red, the concern, the people lamenting, others happy, times of purchase, the dip that by the way is never good, there is always time for more dip and a paraphernalia of situations that, regardless of the price of bitcoin, this have it vibrating. I love bitcoin.

Now, what you mention in the OP is only a statistical and historical reference, in fact I was in your idea a few years ago, it is the one that is sold and continues, but I think that when you have certain years in the idea of ​​bitcoin these comparisons have to overcome, not forget, let me explain:
It's not that we need bitcoin because fiat currency sucks, in fact comparing Venezuela with ... there is no similarity of comparison, Fiat money in Venezuela was not the problem, neither was it in Germany, and in fact see that box with the Venezuelan currency reminded me of something I read about the hyperinflation that Germany had, where and more or less I quote; if you left a wheelbarrow with millions of francs, they stole the wheelbarrow and left the money, then Fiat money has gone through historical instances where its value is not reflected in its paper, but in the clumsiness of those who have led it to be useless, as much as to throw it away (OP) or in the case of Germany use it to burn it, to mention as an example in fairness with the one reflected in the OP.

We must not fall into extremism with bitcoin, it can happen the same let's be honest, in fact bitcoin "hides" between the lines a destitute amount of coins of such proportions and even greater than the average of alts that are born every day.

The comparison of satoshi is always one hundred million for each BTC, but beware we have an intrinsic 2.15x10¹⁵ Sat, a huge amount, the satoshi are the Trojan horse that would save everyone's option to have access to the so-called bitcoin, but that access if it is not well managed can mean issues and if something goes wrong, believe me it is not because of the essence as an asset of what bitcoin is.

The point is, if that Fiat money works or not, your economic situation, good or bad, does not have to be the impulse to need bitcoin, I need bitcoin, for what it is and what it means to me, so you have to learn to love bitcoin for being bitcoin and I take advantage of the queue to say that if you want it you don't have to be a Hodl, so be free with bitcoin according to your needs, sell and buy when you can or whatever, but don't let external factors bring you closer to bitcoin, approach bitcoin because of your convictions as a project.

The government takes out money Unknown to us, but then with Bitcoin we have full control and freedom.
Bitcoin has been like a friend In times of trials,the poor has gotten more money from it although the sole aim of a bitcoiner is to hold down for life, but still having financial freedom is all they want and they've got it with Bitcoin.

There is also bech32, segwit system that you could use with Bitcoin which makes things a lot cheaper as well. Payments are still not as cheap as we want it to be of course, but it is also global as well. If you live in a nation and send money to someone in that nation maybe you have cheaper options than bitcoin, but I doubt it is cheaper than SOL or Doge or something like that, and when you consider people who send money from USA to China or something like that, it becomes a huge trouble, sending 10 bucks is not even possible.

So, bitcoin and crypto is still the best option we have when we want to move money around. At least it looks like the most profitable outcome for the time being.

We will need time to fully adopt bitcoin as a substitute for paper money, because so far paper money has achieved stability from time to time and already has value from every transaction we make in every field of the economy, but of course along with the progress of the times we must also be able to accept other alternatives that may be better than using paper money, but I think the only thing that prevents bitcoin from being adopted as a world currency is because of its high volatility, so that which makes many countries may be a little hesitant to regulate bitcoin as a substitute for paper money.

Freedom to all decentralized users that believe on bitcoin and also happy for what bitcoin is doing in different countries that accepted it.  No permission from any government before you can start using bitcoin to improve your business or your community economy. Bitcoin reduced unemployment and accommodated employment without the help of the government. Bitcoin is not control by the kings or Queens before it can pump or dump in the exchange market.

Surprisingly its way easy to tackle the taxes in the crypto space as compared to the banks. When we say crypto space the transaction is actually from one crypto peer to another crypto peer thats all! If you are going to sell the crypto for fiat then obviously you are leaving behind the crypto terrioty and entering into the traditional banking system

If you are withdrawing then its straight away considered as your income and you are liable for the taxes.

Its really one to one logic here. If you dont wanna pay the taxes then just use the crypto to pay for any products and services. There are now hundreds of projects which are offering services to buy real world stuff with crypto thus leaving behind the traditional banking trail.

However, it is also important not to forget what @aysg76 stated . . .

The printing of paper money is not the solution to the problem. It will decrease the value of your currency. There is an extreme need to improve economic policies to control inflation. It is needed. that Per capita income should be increased. The joining of bitcoin and cryptocurrency will also help to increase revenue and control inflation. Bitcoin business has good potential to overcome such issues.

The fees issues could easily be resolved with LN if you are aware about it and you merely pay any fees for the transaction.You just need to open a channel and only the main transactions are sent to blockchain network and you could make many in between them so the fees issues are resolved in bitcoin with the same.

The taxes? What type of taxes are you paying even in normal banking transactions also? You only need to pay taxes on the income you made out of capital gains on bitcoin at the end only not per transaction so don't know what you are talking about at all.The taxes should not be avoided as the whole economy and infrastructural growth is present over them so you should not try to evade them and pay it.

This is how complete decentralisation of power actually looks like where no third party is involved and you are sole repsonsible of your actions.The network is secured by miners and transactions verified through full nodes built a trust system which we say concensus.This is what freedom you were saying about above.

The main use case of btc is to protect us from the rising inflation due to government recklessly printing notes and wasteful monetary policies that are devaluing the fiat even more and you losing your future hopes so gather as much sats(smallest unit of bitcoin) you can.

We need freedom in transaction with low fees and no taxes.Bitcoin doesn't have backing government authorities or doesn't  have a system intermediary bank to propagate its use.A decentralised network consisting of independent nodes is responses for approving consensus-based transaction in bitcoin network. Bitcoin is touted private, DECETRALIZED currency.

why do we need bitcoin because we need freedom in transactions with low fees, no taxes, fast and practical of course, also there are no regulations that can change prices easily. and I as a bitcoin user feel more comfortable if the transaction uses this bitcoin.
but if it is used as a tool for legal transactions, the world does not agree because of its fluctuating value, I think it is enough to make it a valuable digital asset.

Sounds good but let's accept the fact that traditional money won't be vanished by bitcoin, they will remain both important to us.
The word of global payment system which is the goal of bitcoin doesn't meet because they think that bitcoin is good for storing the value, not for the payment system. Then, speaking of assets that you have freedom and have full control of your asset, bitcoin is suitable when it comes to that matter, you can store value and wait until your money folded for how many times.

I totally agree with the OP and that was right, we know how important bitcoin is and how useful it is.

I fully agree with you on why we need bitcoin in today's world. Printing unlimited amounts of money is a sin by politicians. Having the opportunity to create money out of nothing removes the need for a balanced budget. Every year the government makes a plan for the upcoming year and how much they are going to spend. They are fully aware that they won't meet their own targets. Spending more money means making more voters happy. That is why we finally need a currency that is independent and can't be touched by politicians. The more we invest in crypto currencies the more we show the government that we want more control over our own money.

Bitcoin is probably the easiest option to manage. But in principle, gold, silver and other limited natural resources will also be possible as an alternative ,  not to bitcoin as an alternative.
and inflation is inevitable every year and even though they are very confident that they can pay their debts, there is no surefire guarantee for this.