Bitcoin Forum

cool and simple image.

http://imagizer.imageshack.us/a/img924/1563/QAYpzT.png

Full reasons to adopt bitcoin and left the old fiat. But we must say bitcoin isn't ready for a mass adoption yet. If a whole country starts using the crypto currency we won't be able to do all the transactions and it will be worthless like bolívar or any other currency like this.
Theoretically bitcoin is perfect, but on the practice we are facing some issues very imminent to be solved.

I don't get the last comparison lol. I can buy literally anything with a Canadian Dollar but I can't buy anything at all with bitcoins where I am. I can buy things online, but so can anyone in the world.

Lol kind of random but by the title I was expecting this to be a graphic post as in blood / gore hahaha.

you problem is a bitcoin payment card ... not the bitcoin.
thinks must be paid with a plastic card ... for now.

so, you have Xapo and others solutions to have a plastic car linked to bitcoins.

http://imagizer.imageshack.us/a/img921/7577/IRpOry.png

When it comes to mass adoption, I agreed that not all country are yet ready for bitcoin, and bitcoin was not ready also for mass adoption to all countries. But honestly, for us being an enthusiast bitcoin is already a perfect.

would be better if they were more truthful rather than simply "cool"

I don't know the technicalities since I still use an online wallet but they better fix the transaction time and fees first before this would be adopted as currency by any country. Right now it's mostly a store of value because of the fluctuating prices and I see people complaining that  they're not using their bitcoin because of the increased fee (has not affected me yet).


But yes, in theory it should eventually become a competitor for fiat when it comes to daily use. The only thing banks would be left with would probably loans.

For now every I prefer to used and to invest in bitcoin rather than I invest in fiat, the one that makes bitcoin interesting is it doesn't had any inflation rate, not like fiat where almost every year the value of fiat keep falling down and bitcoin is better than fiat because it is a global currency so it makes us easier to send transaction all over the world, if there are more shop adopting bitcoin it will be perfect situation for bitcoin

I don`t understand the thing about "changes are made with users consensus"?
Nobody asked me about recent major bitcoin changes and nobody in the bitcoin community would care about my opinion. ;D
Perhaps the consensus about major changes is between the btc developers and miners and not between all bitcoin users.
Anyway,bitcoin is a more democratic currency,compared to the central banks fiat dictatorship.

I like #4, "argent sans frontiers" :D

ahahha, something that provides information that is best in my opinion. For all the superiority of bitcoin look clearly and also given an equivalent comparison with bitcoin. But until now I still doubt with the growth of the bitcoin, if we can't do something good then bitcoin can serve as a bad place (fedback negative). Because of the advantages in the large, and extremely bitcoin it could give a negative impact to those who do indeed compete with bitcoin

That'r very right words. I also thing that bitcoin is not ready to become international payment istrument yet. Yes, it's coming to mass adoption, but too many things waits for bitcoin before to become so really. I think this year is going to be the best year in bitcoin's hystory - it will appear many new places that will start to work with bitcoin directly and the necessary laws of government's control will appear. And all of this will move bitcoin much closer to the mass adoption.

A better topic for this thread would be bitcoin vs fiat. Anyways, it's nice infographic to show someone whom you are persuading to get into bitcoins.

I would say that bitcoin already is international currency because it's used all over the world but it can't be fully adopted and used as fiat money and I agree there are many reasons for that. And governments regulation is getting stronger so we will see what will that bring to us.

but you know the supply is capped and not be edited even if with the favour of users! at least government can barely control the bitcoin.

Nice image, ideal for newbies to understand Bitcoin as currency and how its different from ordinary ir fiat money!!
Bitcoin provides anonymity to users thus enmarking holder as true owner!

You are missing the point of the graphic ..... It makes a comparison between Bitcoin and his local currency. {Bolívar} Most of the points there are

applicable to any government controlled currency, but more applicable to the Bolívar. The Venezuelan Bolívar is really taking a hammering and

compared to Bitcoin it is very bad.  Good Graph  ;)

Bitcoin better than fiat because with bitcoin you can use your currencies were ever you are but with your local currencies one is limited to his country. If a currency is decentralized, the control of that currencies is taken from the elites, government and individual. If you want to make bitcoin then work for it.

When goverment can't control bitcoin, they become more aware for this currency and can't legalize it easily as they must bypass goverment policy


Bitcoin just like currency plus it can be complement as investation as well so make sure that you save or spend it carefully as we know bitcoin value still high recently

Too bad it isn't Creative Commons or public domain, the image could easily be adjusted or used for other currencies.

I think it does have greater impact now that it's specifically compares against the Bolivar, but it would be great if you could make duplicates with other fiat currencies.

This was a good example of illustration regarding that situation of the bitcoin users now and the non-bitcoin users outside of this industry. Very easy to understand and simple to get the catch of it. This is proven only where bitcoin now at the present are little by little adopting by the masses in the other places of the country.

Great image.

The fact is that bitcoin is not controlled by any single entity, its production is not controlled by anyone, the transactions confirmations are not controlled by anyone. All of that is done through competition through miners all across the globe, and mining companies that specialise in high tech equipment that provide them with the GH/s or even PH/s that they need for that competition.

This means that the inflation rate is relatively controlled, and can be relied on because nobody controls it. The decentralised system sets its own pace of creating coins.

Bitcoin should be a lot more relevant to Venezuelans as well, since their economy is in absolute crisis and the citizens are seeking somewhere where they can store their wealth in. Bitcoin seems like a great way to do that.

Thanks for sharing.

This image op presented is really thought provoking and it is so amazing. But tell me if that is that is really the case with Bitcoin,
then why we are now stuck with really bad, weak and detrimental fiat currency like Bolivar, and probably will be in the foreseeable future?
We can praise bitcoin all we can, but the truth is we need to include it in current legal framework - we can't create new world order with BTC!

Success anywhere is never a smooth ride and we are witnessing the lots of Bitcoin and there are many of them, but like the infographic depicts, Bitcoin is laden with so much more potentials, it would be near impossible to allow it to rot or thrown into the garbage, especially as we are worse off with the debt-ridden and worthless fiat currencies.

Nice info and graphics there OP.  This is the simplest form of describing what Bitcoin is about.  It simply show the fiat currency and Bitcoin differences.  And even a gradeschooler can understand and point out the difference with your graphic presentation.


Yeah it show how bitcoin works, and the advantage a user can have.  No middleman!

The picture is really great. But in today's world it's not like that really. Today there are not too many bitcoin users among all people population. So, cause of that there is no so many places that work with bitcoin directly.
Today the schem looks like: you > bitcoin > PayPal/banks/WU/others < other side
I mean today we mostly still need to cash out our bitcoins to pay for our costs.

This is absolutely right because no matter how we praise bitcoin compared to local fiat currency we cant make it to make people or government convinced to use it.This is the sad reality on bitcoin and i think we would really stuck on this situation on where bitcoin would remain on its place.

 ;) little UP for the peoples.

Oh, thank you. Nice graphics.
Well, this image is coolest mean to drive curiosity in newcomers to Bitcoin. Someone new to Bitcoin will surely take a leap and fascinate about this commodity, Bitcoin!!
However, it is not self-satisfactory to clear all questions about Bitcoin but still interesting enough to induce people to type "Bitcoin" in Google.

So bitcoin cannot control by the government in many ways the price of the bitcoin is still sky rocketing to 2000dollars and bitcoin is also a great threat in the government but bitcoin cannot use why the government dont allow it in there country but still the bitcoin is has a power to do a transaction in many countries.

That pictural representation is simply the right way to go about it in a very simple and easy to understand format without necessarily understanding the technicalities that surround either bitcoin or the blockchain technology. But the issue there is that its definetely campaigning against the fiat which government will frown with because abandoning fiat, simply means abandoning government which no sane governments will allow unless its ready to face the outcome of such.

at the beginning, gov. control money : and it fail (Roma Empire)
at the second level, gov. allow corporates to create money : and they fail (FIAT history)

so now, money need to be restrain by mathematic rules : perhaps, a success (like P2P file sharing).

 :)

It seems so logical like someone should have come up with it when the internet came out. It's kind of surprising you or I didn't come up with this idea. Not that I ever would have been able to implement it myself though. Could you.. Satoshi!?

Bitcoin is a decentralized currency and no government can control it and that is the reason they are not making any statement about bitcoins as they are well aware that if bitcoin gets on the mainstream then they will loose all their control that they have on fiat money at a moment.

The government is the one who will decide if the bitcoin will be allowed in there country or not or they will allow the risk and opportunities it will give in there country but the bitcoin it still have a specialities in many ways and when it come in money.

You see ? It works.

http://www.zerohedge.com/news/2017-07-22/venezuelans-are-now-paying-1000-times-more-us-dollars-they-did-2010

http://imagizer.imageshack.us/a/img923/8783/0UNPKd.jpg

Hehe. Nice infographics design dude. Same with others I thought this post is about blood, killings due to Bitcoin or whatever. May I know what is Bolivar? Is this a fiat or another crypto coin?

This thread does not raise the right reasons and issues.

The problem at the source, the root cause of this devaluation is not necessarily fiat money but is a political problem. Venezuela is a very few still existing socialist / communist economy and refutes the market economy (which would solve a lot of issues... Venezuela is one of the largest petrol reserve of the planet (!)).

What is lacking in Venezuela is an openness to the world and a market economy (bitcoin is a only a slight solution to the social politic). It would be nice that the thread instead of worrying about an effect (devaluation, hyperinflation) is interested in the cause of this problem: communism and why it is so bad.

The op did not made the comparison of fiat vs bitcoin it was bitcoin vs the bolivar, the currency of Venezuela, and in Venezuela things are in a bad shape there are many products that are very scarce in the country and there is a black market for everyday products so I think that is what he is referring.

the problem to trade oil, for example, is directly linked to the availability of the real dollar market (ie. banks channels like swift).

but, now, they can sell oil for bitcoins.  :D
and then, bitcoins can provide trade in the country for others assets like food, hospital, and ... store of value.

Thank you for this awesome graphic, I sometimes explain bitcoin in detail to people who are really interesed and I will keep this graphic in case someone wants such an explanation in future.

But fiat would be a better name instead of government  ;)

You compare dollar and bolivar which is non-sense as I told, problem is not fiat, but the lack of market economy (capitalism) which indeniably thrive the progress and prosperity.

In fact people have been looking for something like bitcoin since the internet was created, but there were many issues, one of those was double spend and it was not until satoshi created the blockchain that everything came together so bitcoin was created as soon as it was technologically possible.

Round 2 : http://www.zerohedge.com/news/2017-08-02/venezuela-bolivar-loses-third-its-value-past-week


The venezuela is the 28st country in the world with M2 stock money (before 2017) : https://www.cia.gov/library/publications/the-world-factbook/rankorder/2215rank.html

Bitcoin is the 69st = https://bitcointalk.org/index.php?topic=178336.msg20567883#msg20567883

Not really accurate, but sparkles an interesting discussion.

I agree, massive population in Bitcoin is hard to manage. For instance, our managers here takes time to dissemenate our rates how much more for the coming years.
And I think security will be more at risk when adoptation continous.

  Bitcoin can not in practice be used for daily small purchases. It will not be profitable. And banks will find work not only for lending. Part of the transactions will always be made in ordinary currency for various reasons. Yes, and settlements with the state on the payment of taxes will also be made in the national currency and therefore, customers of banks will be forced to have on their account a national currency. Therefore, banks will give services for the purchase and sale of crypto currency for a decent commission. Therefore, for banks, there is always work

Round 3 : http://www.zerohedge.com/news/2017-08-04/venezuela-currency-disintegrates-down-16-today

Inflation of a "currency" (of a country) VS. the Bitcoin value and functionalities.

http://imagizer.imageshack.us/a/img924/8585/ZCavBX.png


And this : https://www.coinhills.com/market/xbt-bsf/

Result : don't trust your currency or your bank or your country, only trust Bitcoin network rules.

Goverments should be allowing cryptocurrency in their country since it is a good advancement of technology, it will help their country grow economically, though  without taxation, many can xreate businesses and make their lives easy and for sure they will create something that will help their countrymen, governments should also give lessons or seminars that will encourage their citizens to become businessmen in order to create jobs.

It is more advantage from bitcoin to fiat it contains less hustle from doing a fiat. How about the poor once if bitcoin will be our daily expenses? How they can pay if they didnt have an phone or computer that they use for buy?.

this is a very good graphic

I love your graphs and infographics, man.

I believe that Venezuela is the ultimate economic disaster in the 21st century after Zimbabwe. But on the other hand i sort of embrace the Venezuelan economic crisis because it truly shows how dangerous it is to have a central entity having the power of issuing money insetad of the money being generated in a decentralized way.

It seems odd to me that a lot of people get comfortable with fiat currency just because it is going strong at the moment. They don't hedge against a fiat collapse with bitcoin, silver, gold, anything. All they do is blindly put their savings in a fiat currency and leave it in a bank, only for it to depreciate in alue like hell. Venezuelans right now are learning a valuable lesson. And it's not surprising to me that a lot of people are actually switching to selling their Venezuelan bolivars for bitcoin as soon as they get their pay.

You just called all the positive sides of crypto-currencies use. But you forgot about negative sides. it is not a secret that Bitcoin is used for buying drugs, terroristic support and corruption. Everything because of hidden identity of users.
So all governments are staying infront of the choice now. Bitcoin is not forbidden in many countries yet, but I suppose if it will became clear that some old and new terracts will be financed through this crypto-currency, I think the dark days will come to bitcoin.

Bitcoin, like the other crypto currency, will always conflict with governments in some ways, because bitcoin is decentralized and anonymous by its nature. This will always be disliked by governments that are used to command and control everything. The way to rub and seek consensus will be long. However, technical progress can not be stopped. The Internet was also at first disliked by some authoritarian governments because of the unrestricted dissemination of information, but this is already in the past. Therefore, the crypto currency will win.

Here is another classic example of comparing a cryptocurrency and a fiat currency. Obviously Fiat currency is controlled by the government to make it more stable and in fact inflation is not a bad thing it signifies demand for the supply. Also if we don't have a stable inflation rate our economy will have a bad transition because of it. I don't know but we can look both ways for Bitcoin and Fiat currency but we all know their own strenghts and weaknesses.

Round 4 : Bitcoin save my Life.
http://www.zerohedge.com/news/2017-08-23/bitcoin-saved-my-life


http://imagizer.imageshack.us/a/img924/7149/NltVmi.jpg

In my own opinion, the government of different countries has a great relationship from the company of bitcoin. The government will promote the services of bitcoin to the public which leads to a high demand while Bitcoin can help the government to establish a well-civilized country wherein the there will centralize and systematic process in all aspect.

There are countries that have promoted bitcoin as well given importance to the regular fiat. Same time there are more countries that have banned bitcoin as well some has made legal with restrictions. Around the world different forms of acceptance is found and hope in future everywhere acceptance will be found.

The conflict of the credit and financial system of all crypto-currency system is unavoidable. The state and officials will be on the side of the co-operative financial system. The results of the conflict, we will see in the near future.

I do not think bitcoin can influence the politics of the nations of the world, or say otherwise, it can not help to establish civilized nations. But above all, it represents a completely new, secure and secure technology. And it is what humanity is aiming for.

The character in the the bottom right corner does not make much sense though--"you are forced to consume the little they offer" someone explain this.

Nice graphic work by the way, this can be used to help people easily understand what bitcoin really is all about and not the misconception of illegal doings.

Pefect comparison between bitcoin and fiat currency. Yes bitcoin has many benefits over fiat currency but still it has some problems to regulate in common use. Only 21 millions of bitcoin can be mined, also mining costs are much high and hence the  transaction fees going much high. Also security concerns due to hacking of wallets. Again not having physical appearance is another problem for bitcoin to be future currency.
 

The government itself gives the bitcoin a authority to operate and recognize by the state as a legal entity  and has a capacity to deal with investors. 
I think the government support the cryptocurrency somehiw since this business entity generates income and collected taxes which will remitted to them; 
In this way the government earn revenues to support government projects and expenditures

Actually there is a wrong misunderstanding about this issue. They always make contradiction between the government and bitcoin which is not true.
The company of bitcoin and the government has a good relationship between each other since there is a win-win situation happening to them once the market value of bitcoin is rising up.
The government will collect lots of tax while bitcoin can dominate in the whole world.

It depends upon the government if they don't want the bitcoin trading system. There is no reason that I see for the government to be anti the bitcoin trading system.
It do not pay taxes but it gives a big benefit to the government through the income that comes from the different part b of b the world.

The government itself support bitcoin in all various transaction which is a good thing in some countries all over the world. Bitcoin and government has a good relationship at all.

Government is still afraid in bitcoin because the bitcoin can kill the currency of one's nations that's why the government start to war against bitcoin and they planning to ban it in their country, they want bitcoin to post pay taxes on them because they don't earn money in bitcoin. Government will still fight it until the bitcoin end but it is a head fight for a government.

I totally agree your opinion as you can see in this whole time bitcoin went up and down but the main it was only UP ; even if government will announce public that bitcoin is a bubble or a scam the bitcoin will be temporary affected not permanently ! . If something goes bad or good bitcoin has only way to go UP!!!!!

it would be better if they are more honest than just "cool"