Topic: Why we need bitcoin... - page 2. (Read 770 times)

Bitcoin is a great solution for transactions and sending money around the world at a low cost and certainly faster, if previously there were many complaints because sending money at a bank or western union was too much procedure and took a long time then with bitcoin it only took 10 minutes or less to be accepted worldwide.

I always make sure that I am buying Bitcoin whenever it’s possible for me to do so. And it has been a good investment so far, because what I gain from it surpasses every other investments I make.

Bitcoin already proved Their value.Bitcoin is most popular coin and most valuable Altcoin in market. I think, A Great advantage of Bitcoin. I Think, If you know how much value of bitcoin then you don’t miss this opportunity. Market Little dip so you can buy now more bitcoin for long term holding and i hope you will get good profit from it.Bitcoin is a decentralization so it will be never stable.

That's the problem that still vast majority of people have gone in flow to believe that their currency is becoming strong in world market.For instance people living in US,UK, Canada and some developed nations tend to believe they can spend more in other countries as the third world countries and underdeveloped countries have very low rates because of many reasons but in actual they never see that their legal fiat has lost so much in value overtime and the inflation rates have killed them slowly.But the problem they see is when the conditions go out of hands and the government imposes emergency declaration and then they curse them but it's all in vain.

BOA and other who have built their fiat bubble across the society couldn't see it burst by the Bitcoin and people knowing the reality of their currency that how much it has depreciated over time.The people who are educated about bitcoin will gain knowledge about how it could help them a lot in coming time as hedge guard against inflation due to it's deflationary Nature.There is nice comparison which shows that $1 USD could buy you complete loaf of bread and other items in the past but now it could not buy you daily items with few dollars also because of inflation but on the other side one bitcoin in the past was equal to loaf of bread but now see you could even buy Tesla with it so tells what is best investment?


This is difference which Bank of America and other government officials will hinder you to see it but if you are educated enough to put light on it then you will believe in bitcoin.

You start with one reason and before you get to know it, there would be lots of reasons why you would be needing bitcoin. When I started, it was just for me to be transferring funds and as time goes on I started to have other reasons as well, although making a transfer of funds still remains the main purpose, but I have also seen it as an investment. I always make sure that I am buying Bitcoin whenever it’s possible for me to do so. And it has been a good investment so far, because what I gain from it surpasses every other investments I make.

It depends on why you need bitcoin. Some may use it for transferring funds and whatever reason they want to use Bitcoin. Why do you use Bitcoin or why do buy?. If you can answer that question then you'll know why you use bitcoin or why do you need bitcoin. Every person have their own reasons why they use or buy crypto when there is fiat.

The question is...what do you buy with Bitcoin when the USD collapses?  If the USD becomes so worthless that it is not even worth the paper it is printed on, what do you do with Bitcoin?

I would say that money is means to exchange value but at the same time it doesn't "have to" lose value neither. Doesn't mean it needs to get more valuable neither but there is nothing that says means of exchange needs to drop in value neither.

So, people are getting more mad about the current situation because they are losing so much money whereas they are not making that much more. Imagine USA, we had minimum wage salary crisis in USA and everyone talked about 15 bucks should be minimum way before this inflation, now it should probably be 20+ if you ask me per hour.

However they do not have it and politicians didn't agree on it and it is still a bit over 7 bucks in a world where there is inflation. So, it means that fiat doesn't "need to" lose value, but in a world where people still make very little salary and not increasing, it is silly to accept fiat being so worthless all of a sudden.

I don't think it's news to anyone that money always depreciates. This is due to the fact that money is not a way of storing value, but a means of exchange. Most ordinary people confuse this feature.

Please note that the rich people of the planet don't keep their wealth in money, but keep it in gold, real estate, enterprises and shares of various companies + some in bicoin / crypto.

It is not worth comparing money and bitcoin. In this they have completely different purposes. Although in the beginning bitcoin should have become an alternative to money, but as we all can see, BTC acquired a different purpose as an investment instrument.

while those kind of bank holidays are just a nuisance we know that when governments lose control of their economy they call for bank holidays to protect the banks from a rush against them so they do not go bankrupt, and not only that a bank holiday of that type can last for weeks in which you have no access to your savings, and once the bank holiday is over most likely the amount of money people had on their bank accounts has gone down or it has lost a great deal of its purchasing power during that time, something that cannot happen to bitcoin.

Not to mention all the Bank Holidays at this time of year.  I can understand X-Mas and New Year's Day, but I have no idea why Monday 3rd Jan should be a Bank Holiday.  Dunno if it's the same in other countries, but it's a Bank Holiday here. 

Bitcoin doesn't know or care what day it is.  It knows only blockheights and has no concept of what a holiday is.   

That's right because basically each person has their own view on bitcoin, we can't regulate it,
things like that don't need to be ignored because taking care of people like that will only be a waste of time