Bitcoin Forum

Been asked a couple of times, what problems does cryptocurrency solve, and what’s its unique value proposition compared to other cryptocurrencies or traditional financial systems.  Would love any other users take on this ..

Solves many issues which are created by the traditional financial system. You like working to make $100 and instead of spending that $100 you decide to save it, then a year later you can only buy $90 worth of stuff with it. Your money was basically devalued without your control. Fiat money printing hurt many people who were savers.

There are also other problems it solves like it’s decentralized, it’s trustless, it helps those unbanked. Sure it’s possible the price of BTC might decrease or increase due to its volatility but so does many other assets such as price of stocks or real estate.

List is so long but i will try to write only few basic characteristics of Cryptocurrency that distinguish it from financial system.

• Decentralization is the first thing that crypto provide us
• Anonymity, self-custody, full confident on our funds, full control on our funds.
• You get to make agreement/smart contracts that can become helpful even using the BTC blockchain as it consists of timelock feature to execute smart contracts after fulfillments of some conditions. And the main thing is all of such agreements will be Decentralized.
• Decentralized means no one could interfere with the agreement terms or go against it.
• In financial system you don't has such features.

Other than above, there are many other things that are unique in Crypto but are not present in Traditional Financial System.

I mentioned some features and such features have huge use cases. And i could also mention a lot but a newbie like me is smart enough to make some use cases out of such features. Like where anonymity, decentralization, Full control of our own assets, etc. came handy.

To sum everything up, cryptocurrency most especially Bitcoin is here to solve our financial problems. So have it in mind that Bitcoin is an alternate to our traditional financial system and not all problems it can solve for your. It cants solve your physical problems okay

I will ask you kindly not to mix up every cryptocurrency with Bitcoin. Every cryptocurrency does not have the standard to solve problems like Bitcoin can. The most important Bitcoin offers you are privacy, security, and financial freedom. No one is asking what you are doing with your money. People are unlikely to follow your Bitcoin wallet to keep track of you.

Bitcoin is supposed to be your own bank and wallet where you can manage your money without any restrictions. No one asks why and where you spend your money like the banks do. Financial freedom is the most important thing that Bitcoin offers.

Won't go into details but here are a few issues that is solved by cryptocurrency.

1. Privacy
2. State surveillance
3. Borderless payments
4. Banking

Cryptocurrency actually empowers you to have complete control of your finances without the intervention of any 3rd parties.

You asking about cryptocurrency aka altcoins aka shitcoins, my answer is cryptocurrency isn't solve any problem to the current traditional financial system.

But if you ask about Bitcoin, my answer Bitcoin is really solve many problems on the current traditional financial system.

Fiat's value is always decrease due to inflation, while Bitcoin isn't.
Bank isn't secure and prone to bankrupt, while well set up cold storage e.g. where you use to hold your Bitcoin, is almost perfectly secure.
Government able to view your wealth, where the money you spend, what's your interest etc, while using Bitcoin with privacy concern make you stay private.
And many more...

If you at least slightly understand Bitcoin, you'll immediately know the answer to this question. The non-economic characteristic advantages of Bitcoin applies also to other cryptocurrencies (pseudonymity, self-custody, etc).


* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
* https://github.com/ethereumbook/ethereumbook#chapters

I will be very honest with you and my experience with "Crypto" payments. I wanted to buy a domain anonymously and the only possible way of doing that was using Crypto. Tell me if you have any other payment method in the world which doesn't share your Name and Bank details with the product's company. None right? There you go. You got your answer. Cryptocurrency provides anonymity and that's what I love the most.

You might not have been around when Bitcoin were used to make payments to WikiLeaks, when all other payment systems blocked donations to WikiLeaks. Bitcoin are censorship resistant and payments and donations are not controlled by any centralized organization or government.

Bitcoin is also a Safe haven for currencies that are suffering from hyper inflation. Several examples are countries like Zimbabwe / Cyprus / Greece etc...

Bitcoin has also opened up much cheaper and faster cross border transfers for people that want to transfer their wealth to other countries, without the huge fees that services like MoneyGram or Western Union are charging.  ;)

Someone named Satoshi Nakamoto said:
and that's basically it.

Without t/his solution to that problem none of what we all love about "cryptocurrencies" would be possible.

Bitcoin, specifically, solves lots of problems. Other cryptocurrencies, much less. Though the idea of smart contracts and NFTs certainly can be real world solutions to things, but as of yet they've been mostly just used as money making schemes for the creators.



Specifically,

1. Hard currency - Bitcoin gives the world a hard currency. Haven't had one of those since nations stopped tying currencies directly to gold, which was well before the actual official dropping of the gold standard a half century ago. This means you can now save, store, and grow wealth in a currency rather than having to bet it on investment products like stocks.

2. Open global payment network - The world of digital payments is broken up into various walled gardens controlled by the banks. You can't send money anywhere you want, and usually if you want to send money to other countries you have to pay big fees. With bitcoin you can send money to anyone in the world with no restrictions.

3. 24/7 & fast transactions - Now this advantage of bitcoin is starting to be lost, for example the US just started initial deployment of their FedNow payments system which starts moving USD transactions off the old 40 hours a week and takes 4/5 days to make transactions to essentially from what I understand 24/7 and near-instant transactions. But at least over the old system Bitcoin works 24/7 and you get payments in like 30-60minutes which was orders of magnitude more efficient than how digital fiat transactions work, but again, the fiat banking system is now catching up.

4. Sovereign digital money - Digital fiat only exists in banks. Effectively, the bank owns any money you have in the bank, and you are completely under their control. And by extension your money is completely under the control of your government. There is no way to own your digital fiat yourself, and it is unlikely there ever will be. With Bitcoin, you are sovereign over your own money, only you control it. It's like burying gold in your backyard, but digital and you can transact with it whenever you want.



And then of course there are all sorts of use cases for humanity that spring out of these big problem solving features.
Stuff like banking the unbanked, storing wealth long term, better way to save money, transact globally far more easily, bring your money with you when you travel, not worry about exchange rates between various currencies when you travel, saving people in fiscally irresponsible nations from runaway inflation, allowing migrants and refugees to take their money with them, providing financial access to economically repressed populations, providing a financial escape hatch for people under very controlling governments, transacting digital money without bank/govt oversight and control, greater financial privacy, more seamlessly interact in an digital/internet-driven financial world, etc.

Plus there's various big benefits specific to bitcoin mining as well, like strengthening the energy infrastructure of the world, promoting the spread of renewables during this century of energy transition, solving societal or local heating issues in various places, etc.



So, yeah, Bitcoin solves a lot of huge problems with money. There's a reason people call Bitcoin a revolution...because it is revolutionary.

You should honestly laugh when people say Bitcoin doesn't solve anything or isn't useful. It's sorta like asking if electricity solves any problems back when the use of electricity was first invented but barely anybody was using it yet. Yes, it is extremely useful, but the infrastructure of that usage needs to be build out so it takes a while. With electricity you needed power plants and power lines to homes and lights and electrical appliances to be built out before the great invention of electricity for society was extremely useful. With Bitcoin we need L2 payment solutions to be improved and adopted and general Bitcoin adoption to increase and merchant adoption to explode and sensible taxation rules around spending Bitcoin before the great invention of Bitcoin becomes extremely useful.

Whenever you hear someone say Bitcoin isn't useful, or isn't needed (like Gary Gensler saying we already have digital currencies we don't need cryptocurrencies and cryptocurrencies shouldn't exist) that person is either entirely ignorant about Bitcoin or has an agenda which is causing them to lie to you. Most people are still simply ignorant, though there are plenty of people who will intentionally lie to you in order to attack Bitcoin. Knowing these basics about Bitcoin's immense and revolutionary uses and solutions to problems in the world will help you instantly see through the people who are don't know what they are talking about, and allow you to explain to them the facts if you so choose.

We generally separate Bitcoin from cryptocurrency.

So the thousands of cryptocurrencies ^$hitcoins which have been created to date are all
trying to solve various 'problems' but the common theme with them is that they are either
or both scams and centralised.

There is one exception to this I can think of and most people will agree on is Monero,
it offers anonymity.

So Bitcoin's problem solving has been covered already above.

One other I can add is those - it is Open Source, we can all get involved in the network
if we so wish by running a node and by doing so we strengthen the security of the network

If you know it was asked a couple of times, you can have answers from where you saw those questions. Why do you need to repeatedly ask it again?

Cryptocurrency does not solve all problems and it can not do it.

If any problem solves by Bitcoin or cryptocurrency, it is a sand in desert. Bitcoin and cryptocurrency use blockchain technology that give human a public ledger as a better tool for accounting, transparency and no censorship. A decentralized network is the best and Bitcoin network is decentralized while other cryptocurrency networks are centralized and they have more probability to be censored, halted by their blockchain developers or governments.

Cryptocurrencies do not solve any problem because there are so many cryptocurrencies and mentions of cryptocurrencies are very common including shitcoins.
Bitcoin can solve problems and solutions to problems that Bitcoin has proven are freedom and independence. Freedom and independence are very broad if interpreted but the presence of Bitcoin people can get out of a bad system.
It covers privacy, decentralization, no third parties, easy and fast.

Yes it does solve lots of problems. First of all, you can sell and buy (mostly) digital products with crypto. You don't need to use credit cards... That's important because maybe you are going to buy a pronhub subscription and you don't want the banksters to know about your sex life. You can do this with crypto and still stay anonymous. This is probably the best feature of crypto, privacy. It is like cash, but digital and anonymous like cash too.

In theory, cryptocurrency or bitcoin should solve many of the problems that exist in the current traditional financial system. But so far, it's still in its infancy so it's hard to say how impactful the cryptocurrency will be. Quite frankly, what I'm seeing in this crypto industry is that it's just a financial market where speculation, manipulation, and profit take place. Other than that, I don't see any more significant impact. We need more time for bitcoin and crypto to mature for a more accurate assessment.

Isn't it a problem for you that government and financial institutes track you when you spend your fiat? Yes, that's a problem.
Isn't it a problem that banks can lock your account and freeze your fiat anytime they wish? Yes, that's a problem.
Aren't high transaction fees problem for people? Yes, they are.

These are just simple and plain problems that we have and cryptocurrencies solve. By using cryptocurrencies, you are able to:

• Protect your privacy, but you have to know how, because for example, Bitcoin's blockchain is like a public book where every transaction is saved but you have to learn more about mixing and coinjoin if you want to maximize your anonimity or use another altcoin like Monero
• Be your own bank, where no one will ever be to freeze your account and finances but for that you have to use software or hardware wallet, not an exchange
• You can send your coins all around the world with very low fees. While it's true that sometimes Bitcoin fees are very high, we must also say that sometimes they are super low and for really very cheap transactions, one can use altcoins.

Yes. The Money Revolution Has Happened When humans began to need a more adequate system from time to time, especially when the exchange of goods and value and Bitcoin is crypto money with the largest market cap, even beating the market cap of the world's largest banks. This big reason was born because the Blockchain System is difficult to manipulate on the existing network. Thank you Satoshi Nakamoto for making peer to peer digital transactions programmed automatically and are still there and present in our midst. BTC is revolutionary.

Due to its dominance over other cryptocurrencies and the security it provides, bitcoin cannot be compared to them side by side because of how closely their prices are influenced by bitcoin. Therefore, instead of inquiring about cryptocurrencies in general, you should inquire about the issues that bitcoin resolves, as many altcoins are unable to do so.

Having financial freedom and decentralisation, where your money is not under the authority of anybody or any financial institution other than yourself is the most significant issue that bitcoin has helped to tackle. You can spend your money anyway you choose without anyone interfering in anyway. Because these financial organisations dislike not having authority over individual bitcoin owners, many countries have long fought against bitcoin ownership.

Not all crypto provides us decentralization, anything apart from Bitcoin which is the real centralized digital currency is not reliable, I only trust Bitcoin, I am into crypto since 2016/2017 and many projects have gone scam after claiming to be a decentralized crypto project especially those PoW coins that miners are busy mining at the time, 99% of them just died some months after.

Promise and fail is now norm in crypto space, it's left for adopter to pick the right one and still Bitcoin is the best one so far, the decentralization is what I enjoy most about Bitcoin follow by its price action.

Bitcoin doesn't provide anonymity straight up, if you want full anonymity you should start using mixer services to make transactions, the true anonymity in crypto belongs to privacy coins like Monero.

Let me use a practical example to explain this cause words like centralization and irreversible does not mean much to the average user in relation to their finances.
90% of the time you send money to a local bank account with no issues, it reflects at the receiver's bank almost instantly eve though in reality there has been no real transfer of funds, there is a master control room and they give you a balance which you see on your bank statement and credit card information.
With Bitcoin no one controls anything, when you make a transaction which has been confirmed on the blockchain there has been an actual transfer of value from one address to the other.

Another point that shows how decentralization is important is when making transactions across borders. You are dealing with different agencies connected by SWIFT system of banking. Here there are huge fees to pay and an equally huge delay in transfer and conversion to the different currencies.
Bitcoin being decentralized does not have such bottlenecks, it does not matter if you are trading with your next door neighbor or someone thousands of miles away. No one controls or regulates the system and no one has access to your funds to freeze, limit your spending or reverse a transaction you have made.

- Jay -

Not cryptocurrency in general, some of them add more to my problem than they solving it, for example Defi projects, I just lost some money because of hack that took place hours ago on Curve Network and it affected may projects under Curve, some utilities are not helping in this space at all, instead they are adding more problem than they solve, Bitcoin seem to be the better place to be, I always hate banks and Bitcoin just came like a striking storm to get the problem fixed and it did.

It's like I have been dying of a decentralization way of getting away from the government and their rules over someone like me, Bitcoin has given me hope that I can survive without the government in control of my life, Bitcoin is doing more than just giving me more money, I am now a 90% Bitcoin man and a 10% Bank user.

Most crypto projects want to be like Bitcoin and as time goes on they will start distancing themselves from the path, because they want to catch some FOMO and HYPE in the space, they can be decentralized today and turn centralized tomorrow,  do not be shocked, there is nothing like Bitcoin

For starters, it gave many people opportunity to earn something by utilizing their computers, I think it's the biggest problem that bitcoin has solved so far, giving people other means of making money and financial freedom. Another one that I can think of is that cryptocurrency helped in making people aware that the current financial system is broken which leads to more people losing faith in the current banking system which in turn forces the banking institutions to adapt to new technology or fight them to maintain status quo which seems to be the lucrative choice for these banking mfs.

Cryptocurrency is just a tool, the person that uses those tools are the ones that get to decide whether we will solve the problems using these tools.

Well, it depends on the kind of problem your looking at, cryptocurrency avails you with the opportunity to save your money and grow it as well.
It can be seen as an asset,  so if for any reason you have a certain amount of BTC,  give it a little while it will grow to a significant amount. on like your traditional fiat currency that is deposited in the Bank and it will suffer all kinds of charges. So at one angle, cryptocurrency like BTC can give you some leverage on your financial stance upon investing.

cryptocurrency has solved a lot of problems in my life for example, and if you look deep the up coming generation at large are getting engaged to actually know what cryptocurrency is all about thats because they have been hearing of the good deed crypto has done in the past. but one problem am having in crypto is that its not regulated, like other financial markets.

The difference between Bitcoin and other cryptocurrencies or traditional financial systems is its decentralisation.

Talking about the problem it has solved, I believe if you have knowledge about Bitcoin, you will be able to understand that Bitcoin gives us financial freedom and makes us stop giving our money to banks; moreover, investing in Bitcoin gives profit.

It also provides an alternative to the physical investment of precious assets like gold and others. Bitcoin is decentralized; with Bitcoin, you will be your own bank, as no one will be in control of your wealth.

Before starting, I would like you to understand how important the difference between cryptocurrency and protocol is. In fact, I don't consider Bitcoin a cryptocurrency but the perfect protocol, i.e. a series of precise rules that have continued to do the same job since it all began.

Bitcoin is a distributed peer to peer payment system that serves to exchange transactions between users without an intermediary this means that it satisfies the request of the unbanked or that part of the world's population that cannot access a bank account for various reasons among all the most important the oppression of a state.

There are many other benefits that Bitcoin brings, so I invite you to read the forum

Similar to stablecoins which will not avoid inflationary values.
Coins bought at 150 now fetching 35 makes you lose money. Or Bitcoin bought at 64 000 and now 30 000 makes you lose.

What Crypto did is to give people access to a mechanism where storing value is relatively easy.
Crypto is not similar to a banking system but similar to a few facets. Trade for once. Banks are the system support. No industry can live withouth them. 

Cryptocurrency is for everyone to use but bitcoin is the solution giver every economy and people needs to have their financial freedom from centralized institutions and government for our corperate and individuals privacy, there are many cryptopreneurs that only make use of bitcoin for their business transaction and also, so many people have have chosen to maintain their investment with bitcoin alone.


With other cryptocurrencies, bitcoin can rise and fall and still maintain it value while others cryptocurrencies can fail at anytime when the investors decided to withdraw their funding or when the project failed went bankrupt or hacked and if the developers also choose to scam investors, as with the fiat currency, there are many advantages of using bitcoin over fiat and privacy and decentralization are the major key factors, others are profitabilities and volatility, to mention few that bitcoin has over fiat.

CryptoCurrency have solved a lot of problems. Most especially making transactions decentralised and not delayed. As you are talking about cryptocurrency, many are also using it as source of income in a very legit way. Thats another problem solved.

There are too many cryptocurrencies that are in the crypto market, so your question has to be specific if you want a suitable answer. There are crypto's that are created for no purpose but to scam people, there are others that have useless use cases that nobody needs, so to try and answer your question, only good cryptocurrencies solve a problem, the rest of them are not useful or are a scam.

Let's take BTC as an example, it is censorship resistant and permissionless, people who want to use crypto for this purposes will buy BTC, it is also a hedge against paper money inflation, a volatile currency that can produce returns and a currency that the owner can control, these are some of the problems BTC solves and why people use it.

What kind of problem are you talking about? I mean the individual level or the macro level as a country, the world economy. If talking about personal impact, bitcoin is bringing a lot of benefits such as profit, privacy, financial freedom...bitcoin has changed a lot of people's lives. As for its impact on a country or the world, bitcoin has not had any impact, that's my feeling. Bitcoin is only used for investment and has not been applied much in practice, so whoever says it affects the world economy is entirely wrong.

Bitcoin sovle every problem of the traditional currency,  it also solve the problem in the banking system of savings.  In the banking system saving money for a longtime doesn't have value to money instead the value of money depreciates, these is one of the problems bitcoin can solve,  it gives value to money by investing in it for sometime.  Bitcoin as money helps in financial privacy, you can have some amount of Bitcoin no one can track and get you physical Identity to know who you are.  The banking system have every details of you, their is no privacy about you and your money and this is a problem solved by bitcoin.

The underlined part of your post doesn't make much sense unless Bitcoin is added before "cryptocurrency".

Now to the question, "what problem does Bitcoin cryptocurrency solve?".. first of all, fiat currencies or traditional financial systems have lots of problems, ranging from Centralization(centrally controlled), Can be easily Censored (the central power can stop users from using it at its own discretion), Lacks Transparency, Easy to counterfeit, Easy to Inflate (alot can be printed effortlessly & even secretly), Prone to Inflation which devalues people savings, requires Trusting In imperfect System/People,  etc. These and other problems are what true Cryptocurrency like Bitcoin actually solves through Decentralization (controlled by users), Censorship Resistant (cannot be easily seized or stopped), Transparency (activities on Bitcoin Network are transparent), Hard to counterfeit, Printing requires hardwork (bitcoins are printed via hardwork & transparently), It's Deflationary (this helps increase the value of users savings),  It's Trustless (requires trusting in coded truth, etc.

Which would you rather choose? Recommend it to those who need the truth

Well, I had to not read any other comments on this post, because I want to just say from my heart what I think. Am going to speak in a general sense because to focus on a single crypto, would be limiting your scope.

Clearly and firstly, it isn't obvious that you have not earned  or won a reward in cryptocurrency before, because if you have, more than once, and have spent the funds upon swapping to your local currency, then you will understand why it solves the problem of finance by acting as a cushion to all our wallet in the times when the local banks try to frustrate with charges and requirements for plans or promos that is ambiguous.

Also, cryptocurrency has solved the problem of doing business with clients overseas. With the advancement and upgrades that stands to make exchange services like Binance, or new comer Bitget better, we see NFTs, Digital services and graphic skills and other related tech-know-how, intellectual property, even social media ads/campaign being paid for across border with the P2P initiative that is proven successful overtime.

So yea, cryptocurrency solves alot of financial problems, anonymity problems for big brokers, trans-border trade problems, huge charges and fees problems, employment problem too among others.

Saving and investment is different, if you leave your money in your savings account, it is because you only want to keep it safe and use it when you need it later. But when you invest, there is risk, and so when you invest in BTC and keep it in your address, the risk of losing it is high if you don't know what you are doing, people hardly buy BTC because they want to save their money in the network, but because they want to invest, bear the risk and hopefully get revenue when they sell, but the bank is for saving, except for a little amount in interest that you can get annually.
There is privacy in BTC for the people who want it, but many people don't care about it and they use Binance and other centralized exchanges, which means they have lost their privacy. It is better for the bank to have your details than a centralized exchange, that's because it is easier and happens more often that a crypto exchange hack will lead to customers data being exposed, than with a bank.

I love cryptocurrencies, especially Bitcoin, for its decentralization and empowerment. Bitcoin relies on a network of computers, making it immune to centralization. Consider typical financial system corruption and power abuse. How often have these collapsed economies? Bitcoin takes that authority from abusers. Instead, it trusts the network.

Cryptocurrency also helps unbanked people. Traditional banking is unavailable to billions. Bitcoin, however, may be accessed and traded online. Want a distinct value proposition? It is. Democracy, security, accessibility, and transparency. Each cryptocurrency has unique qualities and uses. I think Bitcoin is the biggest revolution

It would really solve a lot of problems, like people could easily send money to each other, especially when we are talking about worldwide transactions. I know that people in some specifics countries may encounter difficulties when sending money to someone in countries(talking about fiat here) . Using crypto like Bitcoin has been very beneficial for me as I can instantly exchange my Bitcoin or use them in different countries though.

There are many more benefits, such as low fees for transactions and the anonymity of the transactions as well which is pretty good and I do really like that.

Cryptocurrency, like Bitcoin, plays a crucial role in resolving various issues. It enables borderless transactions without third-party involvement, making payments more efficient and secure. Additionally, cryptocurrencies offer a global payment system for merchants, overcoming the challenges of traditional fiat systems. Many people worldwide are earning through cryptocurrency, and I, too, have found success with this payment system.

Because this board is about bitcoins, I will speak specifically on the benefits and some problems that bitcoin has solved.

Bitcoin has solved the issue of monitoring from the government, you can keep bitcoins in big amounts and the government will not be able to know the exact amount you have. Bitcoins has also eliminated how compulsory the banks are for long distance transactions.

What bitcoins has not solved and will not be able to solve is the problem of poverty.

The code is the law in Crypto (not all, at least for Bitcoin) - This means, you can get access to the most advanced financial system on the planet to make transactions without needing to trust the part on the other side of the trade. I have experienced first-hand the damage that trusts in centralized financial service providers like banks have on its customers. Bitcoin and Blockchain bring a unique approach to this. You don't need to trust the part on the opposite end of the transaction in order to make it. Full control, never seen before.

The solutions are enormous, it all depends on what you're looking out for from bitcoin as a digital currency.
You can preserve the value of your money in a long term through fiat but with bitcoin you don't only preserve value but adds value to your money. For a long term value bitcoin is your sure banker.

No control of your money by any centralized body because of its decentralized system which enable trust I'm the system something that can't be found under the fiat currency system. Etc.

It allows you to be free with your own money. It allows you to act independently of restrictions. It allows you to get rid of the absurd limits of banks in global transactions. You will get rid of nonsense such as transfers made during working hours are free, transfers made outside working hours are paid.

In summary, you have the opportunity to use your own money as you wish.

for me, that's one major purpose of crypto where you can transfer any amount without going thru a lot of documentation processes. the fee is very cheap and the transfer is quite fast. and besides, you don't need to go outside the house to make such transaction. no queues or whatever bottleneck you will encounter sending that amount of money. you just basically need internet and computer.
so yes, for me, that's one big achievement of crypto. and it actually solves the problem about cross-border payments. but this can only be useful to people who understand the use of crypto as payment method.

We all know that the first issue the cryptocurrency solve is the transaction that relies on the third-party financial institution.  It also solve the financial inclusion issue of those that are unbanked.  With Bitcoin these unbank can be able to participate in global financial inclusion where they were denied before due to being unbanked.

Bitcoin also gives the freedom of transaction where the holder don't have or no need to ask for approval of the third party institution.

Cryptocurrency actually provides an opportunity and solution to escape some challenges caused or ignore by the traditional financial system like sovereignty, cross-border transactions huge free and long processing, and it also introduces an opportunity to financial benefit. However, most crypto enthusiasts have the believe that it solve financial problem but it actually introduce the opportunity to do that and it's personal knowledge/understanding about how to use the opportunity we solve the financial problem.

Bitcoin has been useful just in a few things,
  - payment option
  - profitable investment

Though not totally is gives 100% help to the people at least it changes the life status of some individuals by improving their financial capabilities. And also, for those who are a fan of online shopping and paying a bill, Bitcoin serves as their option and make their life easy. It matters how people are using this but for me, I appreciate its existence coz I see how it helps me a lot.

One of my created threads entails about how Bitcoin and other cryptocurrency solve the logistic problem.  You can find the thread here:  Blockchain Tech in the Development of the Global Transportation & Logistics (https://bitcointalk.org/index.php?topic=5452581.msg62237188#msg62237188)

In this topic it was stated that Global Transportation and Logistics, Bitcoin can improve or solve the problem on:
1. Transportation Payment Dispute
2. Administrative cost
3. Transportation of Temperature controlled goods
4. LTL (Less than Truckload) inefficiency

This is only one of the many Industries where cryptocurrency helps to solve a problem that is naturally hard without the aid of blockchain technology.

It fulfills what the traditional payment system fails to perform. The demand to supply is the big factor that helps bitcoin in the bounce of value and acts as the factor to overcome inflation. Limitless cross border transaction is an added advantage, because to make huge transaction through banking system the process involved is really big and makes people tierd. Apart, the transaction cost is really high against the mere transaction fee. Cryptocurrency through its multiple usage have got the ability to solve many problems, but this happens good with people who have understood well about it and travel along with bitcoin.

Here are just some of the value propositions, mostly in comparison to the fiat money system:

Fixed supply vs. Infinite supply
The money which makes the world turn at the moment is infinite. Bitcoin on the other hand, only has and ever will have 21,000,000 supply.

No government or central banks
The only people who call the shots are the people. For decisions and changes to be made to the Bitcoin protocol, at least 80% of the network need to agree to the change. This is fairer and achieves consensus decision making for major decisions. Fiat on the other hand, is completely reigned over by governments and central banks.

Lower transfer fees
How much does it cost to send $1,000,000 internationally with a bank? The answer is; a lot in comparison to Bitcoin. No matter how small or large the transaction, Bitcoin charge the network fee which varies between $0.1 and $1 depending on network activity (at time of post, fluctuates)

Audit-ability and transparency
You can audit the Bitcoin blockchain all the way back to its roots, due to the transparency of the Blockchain that it is built on top of. Fiat is completely the opposite, only banks and their databases keep records of transactions, which is limited to each bank and their administration.

Highest potential user base due to censorship resistance
Out of all internet creations, Bitcoin is the most accessible due to its decentralization. Anyone around the globe with an internet connection can use the Bitcoin network and transact Bitcoin. No other fiat currency is capable of reaching every country like Bitcoin, and never will be.

It solves general problems of the financial system, primarily inflation, which is the bane of everyone's existence unless you're a billionaire in which case it just makes you even more rich. Another would be the impaired payment processing and lack of anonymity in the remittance of money over larger distances, which keeps you from keeping your identity safe against scammers, and hackers that may intercept your money and literally close it out for you.

Financial capabilities come in last as it is not necessarily guaranteed especially since bitcoin is a very volatile asset with a high propensity to lower your investment's value in certain occasions, but with enough patience and great timing it has helped millions of people in the past achieve financial stability, which is a good thing.

Thanks to all users that have taken their time to give answers here, but if you maybe put this question directly to me alone, my answer to you would be...

If the entire cryptocurrency market capitalization is currently sitting at over $1.1 trillion dollars, and bitcoin alone has a market capitalization share of $560 billion dollars currently, while the remaining market cap is shared amongst other cryptocurrencies, if the market is worth this huge sums of money and you are still asking what problem it solves, then it shows that you are either very dull in learning or have been ignorant about learning.
Now I don't mean any of this i mentioned as an insult or whatsoever, i am just being as open as i can be, useless thing are usually valueless, worthless, so when something is of great value like this, you should know they are very useful and in high demand, the demand is what gives it the value.

I don’t know, ask people who are now banked thanks to BTC while traditional banking system is still unaffordable to them. Ask people who’ve had their money frozen before or stolen by banks and obtained independency through BTC. And ask people who had to move significant amounts of money cross borders without their leadership knowing (IDK, Chinese residents maybe?) and were able to do so with a piece of paper containing 12 words smartly hidden in art or whatever. Bitcoin’s solved issues. Maybe it hasn’t solved issues you’ve never had but trust me, it’s done great things to humanity!

It doesn't solve many of the problems it claims to solve. Cryptocurrency is not a finncial revolution, it's not a replacement for the current financial system, simply because it can't perform every function of the system.

Crypto's biggest success is giving users full control of their own money, but only Bitcoin fully achieves this, altcoins are controlled by their developers and can change the rules unilaterally or they can even control transactions.

However, controlling own money isn't something most people want. It's a responsibility that they outsource to banks and payment networks.

Buying drugs online is probably the biggest real-world use case for crypto. If you have libertarian or anarchistic views, you can say that it's positive, because it shows that crypto can be the backbone of markets that are free from governments. If you have more mainstream views, you can say that it means that crypto helps crime.

I see one of the problems bitcoin solves best by far is to create a decentralized asset, meaning we can become our own bank without having to depend on anyone. Bitcoin gives us the privacy we need. Besides, it also helps us save a lot of time and cost every time we make cross-border transactions. Those are two things that I see bitcoin doing very well, but using it as an investment for profit is up to the individual. Not everyone can profit from it.

I'll answer about cryptocurrency solving problems. First, cryptocurrency did solved my problem during the time when I needed money where I was able to earn $2000 and I didn't spend much of my own money before I was able to earn that amount. Anyways, the problem that cryptocurrency solved in my situation is about financial problem. For other people, I am not sure of what kind of problem that crypto have solved like using crypto to buy things online or buying something but you only have crypto to pay and luckily the other party accept crypto as payment.

It actually do solve a problem to some large extent, and the reason why i said to some large extent is that,

1  Decentralization: Cryptocurrencies operate on decentralized networks, reducing the need for intermediaries like banks and enabling peer-to-peer transactions, which can be more efficient and less costly.

2. Financial Inclusion: Cryptocurrencies can provide financial services to people who are unbanked or underbanked, giving them access to the global financial system without the need for a traditional bank account.

3. Borderless Transactions: Cryptocurrencies enable seamless and near-instantaneous cross-border transactions without the limitations of traditional banking systems, which can be slow and costly.

4. Security and Transparency: The underlying blockchain technology ensures that transactions are secure, transparent, and tamper-resistant, reducing the risk of fraud and enhancing trust.

5  Lower Transaction Fees: Cryptocurrency transactions often involve lower fees compared to traditional payment methods, making them attractive for microtransactions and international transfers.

6. Investment Opportunities: Cryptocurrencies offer new investment options, allowing people to diversify their portfolios and potentially benefit from the growth of the cryptocurrency market.

6. Programmable Money: Some cryptocurrencies, like Ethereum, support smart contracts, enabling programmable money and decentralized applications, expanding the range of possibilities beyond simple transactions.

7. Privacy Options: Certain cryptocurrencies offer enhanced privacy features, allowing users to maintain greater control over their financial data and transaction history.

Regarding the unique value proposition of each cryptocurrency, different cryptocurrencies may prioritize specific features or use cases. For example, Bitcoin is often seen as a store of value and a digital gold, while Ethereum focuses on supporting decentralized applications and smart contracts. Other cryptocurrencies may target specific industries or use cases, such as privacy-focused cryptocurrencies like Monero or Zcash.

The problem(s):

- You want to send money to someone else, but transfer fees are expensive or not working for some reason.
- You want to send money to someone who doesn't have an open account (or the reverse is true).
- You are worried that inflation will eat away your savings gradually.
- You want to buy something, but your card is declined and you can't get it working in short order.
- You're going overseas and need to take a lot of money with you for some reason

Bitcoin fixes all this!

With bitcoin and altcoins, of course, there will be positives and negatives. Of course, many people are helped by their economy with crypto, such as people who invest in crypto and ultimately benefit from their investment in crypto. but there are also those who experience losses due to investing in crypto and end up losing money, for example because they sell in a bear market while buying in a bull market. I think crypto is a tool for making profit for people who have extensive knowledge and experience.

so crypto can solve problems for those who can use it well.

We can take the example of Bitcoin.
The best problem that Bitcoin can solve is the transparency of transactions. Since Bitcoin is decentralized, all transactions are open to the public and it is validated by lot.
And another thing is money remittance, when you send some money from other countries, fees are high and it will arrive for too long, which is mostly considered as cross-border payments.

Been asked a couple of times, what problems does bitcoin solve...compared to other cryptocurrencies.  I just extracted the above statement from Op and it seems you meant bitcoin in the first cryptocurrency used.
Actually, it is not all cryptocurrency that solves problems, that is why people ask for a project road map or whitepaper, to see the actual problem such a project solves.

In the early days of this industry, I think some of the projects tend to solve problems before scammers flooded everywhere. Some of the problems I think cryptocurrency solves compared to traditional fiat are;

• Solved problem of centralization
• Privacy and anonymity by privacy coins
• Low transaction fees sending money and paying for goods internationally
• Fights unemployment

And there are very lots more, especially in technology which the fiat system may not perform.

If by the financial problem you mean financial stability, then that requires more work from you even after you start using cryptocurrencies and it also requires one to invest money and then trade cryptocurrencies on a daily basis after learning everything, but, it does provide you with financial privacy for sure, Bitcoin does that, because it is totally decentralized and there is no one actually watching and controlling your finances and financial activities.

When using cryptocurrencies, you are your own bank. Whenever you want to deposit some money, you do it with a single click without any questions asked, and whenever you want to withdraw, you can do that so easily without anyone asking you for any paper work or any calls for confirmation or anything.

I'm going to answer this question from a personal perspective.

Let's take my country, for example, our currency is going to shit as we speak. It's depreciating daily against the dollar and before Bitcoin, I would have had my savings in my local currency (because presently I'm saving for a project I have in mind), and that savings would have also been depreciating.
Now I can just save my money in Bitcoin and if I'm lucky, before the time when I will be ready to use the savings I might have gotten some profit too. This would have never been possible with my local currency.

Secondly, Bitcoin has made it easier for me to send and receive money to/from other countries without any single stress. This used to be a problem for me, especially when I was receiving from a developing country. You'd be surprised to know that in most of these developing countries, only methods like western union and money gram are available for sending money. So I'll be forced to use other means that will leave me vulnerable to scams.
It's as if the innovation of Bitcoin was specifically made for me.

Different people have different solutions that Bitcoin brings to them. The problem of going to banks is also another thing.
I can't speak for crypto as a whole, but I can speak for Bitcoin and say that it solves a lot of problems for different people.

Cryptocurrency and other cryptocurrencies what's the difference?:D
When talking about bitcoin maybe this would make sense to answer but other cryptocurrencies it's definitely confusing to me.
As for when the goal is bitcoin obviously the differences are many.
I don't want to theorise much on this because I feel a significant difference from this. Fiat is indeed still one of the demands in the lifestyle and I realise that because I also cannot live without fiat but when told to choose in investing of course bitcoin is the ultimate.
On the other hand, when talking about the comparison between bitcoin and altcoin it is also clearly not comparable because in my opinion bitcoin is much more feasible and much better. indeed when talking about altcoin's higher returns when you are lucky in memes it may be very absurd and it is really instant but it is not an investment system but only the return from the utilisation of momentum that we find as for Investment here there is nothing better than bitcoin.

There are lot of issues which cryptocurrency has solved for me as an individual. If you work as free lancer on any platform then lots of money is deducted by the platform as there commission. As a freelancer you can receive full payment directly into your account without any deduction. On fiverr 20% goes directly to the platform and you get rest of payment in 14 days. This problem for freelancer is fully solved by cryptocurrency aka bitcoin.

The issues cryptocurrency has solved and still solving are many. First of all, the authorities in the world can not control, monitor your account or wallet because it is decentralized. That is, it has solved your financial freedom from the government. Secondly, your investment and trading can elevate the poverty in your life. Cryptocurrency has made me to acquire a lot properties in my life. Only my life bitcoin has solved 80% of the problems.

First of all cryptocurrency provide you online way of earning where there is no need of going anywhere for doing job, just setting at a home and solve all problems online. Those individuals who are working as labor and work hard does not get any useful amount of money to provide good lifestyle to their families but with the help of cryptocurrency one can stabilize his status.

All those individuals who are unable for certain jobs can easily get income through investment in bitcoin and other useful coins. So simple is that with the passage of time cryptocurrency will make you rich if you work properly but remember that  life of rich people are not satisfied always.

I don't know about all the other cryptocurrencies. But as this topic is in the Bitcoin discussion, I can assume you are talking about Bitcoin. You can also compare many things and find many similarities between BTC and other cryptocurrencies as ALTs are created based on the idea of Bitcoin itself. You can also say, a cheap copy of Bitcoin. Some are better than Bitcoin in many sectors but they are not decentralized like Bitcoin. That's the main reason why they are unable to cross Bitcoin on the leaderboard.

Now let's talk about the problems that cryptocurrency solves. Borderless transactions. You can send and receive any transaction from any place. All you are required is a smart device and an internet connection. You don't need to convert or pay tax in order to use it in different locations. Imagine this with Bitcoin. All over the world, only one currency and you can use it freely anywhere.

The next stuff is decentralization. You are the owner of your own assets. No centralized organization is in charge of your assets. (But this is only possible when you are using Bitcoin. Others are centralized. So keep that in mind). And with decentralization, you will have full control over your assets.

Anti-inflation. This one is also related to Bitcoin and Bitcoin only. Being decentralized and having a limited supply makes Bitcoin resistant to inflation. It can't be influenced by inflation happening all over the world. 1 Bitocin = 1 Bitcoin. That's the truth and it will remain as it is. New bitcoin can't be created or destroyed. (Lost Bitcoin in wallets not included). Inflation happens when the GOVT. prints more money. That can't happen with Bitcoin.

There are many more problems that cryptocurrency(Bitcoin) solves. If I keep on writing them, then this will become a long post. So let's just keep it short and stop right here.

Bitcoin have given new dimension to the transaction as well as investment. It have got the ability to solve the problems that arise due to the third party. Some have said about bitcoin solving unemployment, poverty and all which is completely wrong. Will the traditional currency solve poverty or unemployment. Those things were in the hands of the government. Better they manage and be productive makes the possibility of reducing unemployment and poverty in the country.

Yes, it does. Bitcoin has served the purpose for which it was created and has even gone beyond that purpose. The architect of Bitcoin (Satoshi) looked at how monetary policy was only managed by centralised authorities like banks and other financial firms and how third parties were always involved in carrying out monetary transactions, so he designed Bitcoin so that every individual who decides to use it can handle their own financial management without the need for any centralised authority or any third party involved.


If you have some knowledge about Bitcoin already, then you will know that Bitcoin is a decentralised asset. If you are using Bitcoin, you can make payments to anyone in any part of the world as long as the person accepts Bitcoin as payment. To do this, you don't need the help or agreement of a third party, and neither would your identity be divulged to anyone. You can carry out a crypto transaction right on your mobile device without visiting any organisation. So, Bitcoin has really solved a real problem, as I have explained to you.


Secondly, Bitcoin has made some people millionaires. Its volatility feature is what some traders have really used to make some profit, and investors who buy and hold Bitcoin are also making profit.

I know you're talking about in larger scales, but let me put an input for myself on what it did for me at least. It helped me save transportation, bank fees as well as time when I just wanted to check my balance.
Imagine just the struggle of wanting to withdraw your money to buy something you wanted just to be bombarded by all these fees. Surely not many people would notice that depending on how far ATM machines are in your area.

However, its strength and possible weakness stem from the same source: its decentralized character. You claim that it protects your privacy, but when people have felt alone, they have often acted badly. What occurred on the opposing side is too important to simply disregard. Its a convenient way to launder cash or pay for illegal activities.

Furthermore, despite providing financial independence, the market is simple to play. Big swings in the price of Bitcoin can be caused by "whales," individuals or organizations with a large holdings of the cryptocurrency. So, while technology has liberated us free from the constraints of old banking methods, it has also introduced a whole new set of challenges.

especially since I'm in a village, of course to find an ATM I have to go to the city, where I have to do it because I have to pay cash to pay at a shop, and it's not practical after we get to know bitcoin, because there is a more practical way to use it, unfortunately not yet familiar and not yet legalized by the government, but indeed the initial purpose of bitcoin was as a currency, and hopefully in the future this can be realized, for now with bitcoin at least I can improve my family's economy, which can cover the small salary I get as an employee

No one really can control your account or wallet if you are using Bitcoin, but in the end, if it goes to a bank when you convert it to other fiat, that is the time that they can control it, but still, they don't have total control over your money. Also, one of the things that crypto or bitcoin solves or helps us with is our financial situation. I mean it brought us money and profit that we can use, and we treat it as a side hustle while we work. Even others got rich and bought some expensive stuff, so it solved people's needs and wants.

Bitcoin solved the problem of cashless transaction without the fear of banks having issue or reverse transaction. Before Bitcoin was invented we held other digital currency but they weren't decentralized which means there was no trust in the digital currency for your transaction not to be reversed. PayPal was one of them and when transaction were been reported, you can get your money reversed and this was an issue for marchants but with Bitcoin invention that trust issue was resolved.

As for the other cryptocurency claiming to be solving one world problem or the other, they're all lies and just technique used to hype their project so they can get investors who are looking for quick money to invest into the project and make them profits as they sell their tokens.

You can't think of putting money into bitcoin as a way to save money, especially if you intend to use that money in the near future. There is no guarantee for you that bitcoin will bring you profit until you need to use that money for your project, bitcoin is very volatile in the short term, so don't forget that. Bitcoin is an investment that will be risky, you can make a profit or it will make you lose, it all depends on your ability. Bitcoin is not savings.

Somehow it does, makes the transaction more transparent and secured, people previously got scammed by unknown sources with the use of cryptocurrency now you can use as heads up if the transaction proceeded or not but the problem right here is, they can still do the same just create a new wallet without activity but if you are making a transaction you can see now if the other party are really saying that they proceed the payment or not, also its being decentralized but most of the people keep using the centralized process because of being convenient. Also the crypto makes more easier to use as mode of payment just waiting for the confirmation.

People often mention privacy, which is a valid point because bank accounts always have your national ID information and usually many other things, so none of those transactions are private because the bank knows exactly who's making them. Another is just being able to transfer money digitally without requiring an approval of any centralized authority.
Some also mention that it can help with inflation, to which fiat currencies are susceptible, but since Bitcoin is also volatile and can be in the bear market for years, I wouldn't really emphasize this feature.
Overall, I don't think it's about definitive solutions to problems, it's more about providing an alternative that has its own ups and downs but it very different from fiat.

Crypto is an alternative that will provide several advantages that banks do not have.
Crypto without the need to do KYC and can be used by anyone without any restrictions.

But risks will always occur, crypto risks will have a greater impact on people who do not understand crypto at all, but those who already understand will be quite careful.

As an optional payment or investment, crypto may still not be able to match the usefulness of Fiat, but it will continue to be a good optional for the future.

Yeh In reality there are several things which only solved by Cryptocurrency and especially Bitcoin, In traditional Financial system holding or saving fiat will always damage you portfolio because due to unlimited printing of money, your holding amount will losing his value and you will not get such amount of stuff which you can get from same amount a year ago,
but Bitcoin solve such problem because it's the only currency which will store your wealth and will safe him from inflation, not only hold value but will increase in value from time to time,

Bitcoin provide financial freedom and independence from such traditional banking system, it will provide privacy by hiding your identity and through only Bitcoin you can send million of dallars from all around the world within few seconds with a cheapest fees etc..

Bitcoin solved the Byzantine General problem, which was a way to describe how difficult it was for computer systems to agree on anything on a distributed network, and this is something that anyone that tried to do exactly that encountered, by bitcoin solving this problem it allowed for the creation of a decentralized currency, and while many people still do not see the value of bitcoin, to have a decentralized network in which no third party can freeze or take control of your funds is invaluable, and as governments get even more powerful the ingenious design of bitcoin and its power will become more apparent.

There's this common principle in philosophy that says that man creates more problems for himself in search of a solution to an already existing problem. @Blitzboy, You know that some problems cannot be totally evicted; even with or without Bitcoin, there would still be a way to loot money. In fact, money laundering was around long before Bitcoin was created. Drug dealers have already been in the picture and are carrying out their business successfully without Bitcoin. So, Bitcoin cannot just be victimised because of those who are using it to commit any ill activity. Does it mean that even in the banks, there aren't any illegal activities going on?


Bitcoin being decentralised is not just something that is controlled by one or two people. I know that whales exist, but Bitcoin price movement does not just depend on the hands of those whales; there are other factors that contribute to price movement. Even if some whales decide to sell a huge amount of Bitcoin and the market dumps, it doesn't mean that the market will remain bearish for ever; it will still uptrend after experiencing those downturns.

Its a tool like many others and clearly it solves a lot of problems , but the main and only problem like in any other matter of the life its who its used, for example a screwer its a tool and you can use it correctly, but you can anlso make bad thinks with that like puncture a tyre or worst things.

Well with this its the same, some people can use this "tool" to do bad things or dont solve any problem, and others can do a lot of good things and solve multi issues.

I highly agree, money laundering had been in existence even before Bitcoin is created.  But, to think about it, Bitcoin transactions being transparent and open to public, I do not think that Bitcoin is the best way to launder money. Though I don't know about privacy coins since I read some articles that some of these privacy coins are actually not private and can be traced.


True that, one instance is when there is a huge hype and a whale decided to dump his Bitcoin, as long as the demand outweighs the selling pressure, Bitcoin price will not plummet, and if the whale isn't aggressively selling his Bitcoin and just put it as sell wall, demand will slowly nibble it until it is eaten out completely.

Yes, I mean financial stability and it requires better use of the opportunity cryptocurrency presented before anyone can be financially stable.
Having said that, it doesn't require investors to dive into trading after a successful investment in cryptocurrency because crypto trading is not meant for all investors and it's not a must to join the crypto trading market before being financially stable.

As many other users already pointed out, inflation is one problem that cryptocurrencies can solve but for me there is another aspect even more important: you can send money to whoever you want, whenever you want, without the need to get the permission from any bank or other agency. Let's not forget that many people in the world have no bank account therefore it's difficult for them to receive/send money. With cryptos you just need a smartphone.

Of course BTC solves problems… while it may not address all of the world's economic problems, it certainly has value and advantages. Decentralization in finance is one example. Some communities in some nations have restrictions to use traditional banking services. Take Venezuela as an example, where people frequently face withdrawal restrictions due to a lack of cash in banks as a result of the country's economic devaluation, which has forced residents to seek other, more stable currencies (Colombian peso or US dollar). ). In this context, cryptocurrencies can give people financial access by allowing them to engage in transactions and services without relying on conventional intermediaries and without restrictions, and that would be another point. In addition, BITCOIN and cryptocurrencies can help people carry out such transactions not only locally or nationally, but also quickly internationally. This can be especially useful in cases of money transfers where people send money to their relatives in abroad. As if that were not enough, security is another advantage, since this technology guarantees the security of transactions and movements simultaneously. that safeguards the privacy of users. In a world where privacy is a growing concern in the digital sphere, proving useful and again solving a problem.

Agreeing completely here .


1. Privacy - Though it is not completely anonymous yet we can at least same some privacy for our transactions.

2. State Surveillance - it can , but it cannot depend on which who will conduct the surveillance .

3. Borderless Payment - This is I will 100% agreed because no matter where we are as long as there is availability of crypto and internet , we can transact .

4. Banking - this will end the Banking corruption for sure.

about the empowerment ? yes this is what we have here .

right, that's one of the advantages of transferring using bitcoin, where effectiveness and efficiency are one of the advantages because of its decentralized nature. on the other hand we can also manage our own savings without administrative costs, it's only possible that the value fluctuates due to fluctuations that occur. but unfortunately this cannot be done massively to help with daily needs, because there is no legalization in my country yet, so it's practical with bitcoin just to make money

Right, bitcoin is like other tools and products that man has ever created, each tool has its own mission. But whether it becomes a good tool for solving problems or a means for bad ends depends on human behavior. No product is created without functions and tasks, but the most important thing is what we use them for. Like when we use bitcoin for profit or turn it into our own bank...while criminals use it for their evil deeds. So, there will always be mixed opinions about bitcoin because it depends on how each person uses it.

Bitcoin is the safest currency right now. To keep our money safe we consider bank as the safest but in this time of inflation where bank is not safe then surely Bitcoin can be trusted. Even if the value of money decreases due to inflation, inflation usually has no effect on Bitcoin, which is why it is safer to convert your money to Bitcoin than to keep money in the bank during inflation. In some cases, you can protect your privacy with Bitcoin. Suppose you want to pay on a site but you don't want to use your bank card or any other payment system on that site, you can use Bitcoin as the means of payment, it will protect your privacy.

exactly. The market is also controlled by supply and demand, and sometimes there are more people buying, which can make the price shoot up. At this point, a whale cannot have much influence in the market, and even if it does, it will only take some days or weeks for the market to recover again, and even after it recovers, would it not still be a disadvantage to those whales to buy at a high price? Well, those whales are also usually very calculative about when to take advantage of the market. they don't get so insensitive as to just play with their Bitcoin because they feel they have quite a lot of it.

Bitcoin is simply the best kind of money and the government themselves know this fact that is it the truth, that's why they are trying to figure out how to stop the wonderful trend because if Bitcoin is actually adopted, many of these men will have lots to loss as many people will be exposed on the truth that follows this trend and also the fuel issues in the country.

I can see that Bitcoin is a perfect thing to use when it comes to sending money to other people or countries as we can save time and cost. But if we talk about using it in the form of currency, fiat money was still the best option which is why people are converting their crypto.

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I can say that Bitcoin serves as an option but can't totally solve the problem. If we can say that it helps financially, yes, it was indeed helping a lot of people but it never is the solution to poverty. It could be an opportunity, not a problem solver.

Bitcoin is great for sending funds internationally because of its boundless nature but in the local transaction, I am somehow hesitant if can outperform the local banking online system because these sytem can enable instant transfers with little to no fee especially when the transfer is done within the same bank.


I also think the same, I believe Bitcoin can be used as a tool to lessen the poverty in a country.  With the feature of Bitcoin enabling financial inclusion of the unbanked, they are enabled to participate in the global economy.  Now it is up to individual how they will take advantage of the opportunities that Bitcoin gives.

Perfectly said 👏
Cryptocurrency at large solves a whole lot of problems in the the current society and one of the major problem it solves is decentralization and making the holder a sole controller of his funds.
Bitcoin is trusted and one of the first cryptocurrency and as such has gained ot of trust from people.
One of the major benefits of bitcoin  is that it can be used globally  even in countries where it isn't legalized and in case of travel,  one wouldn't be worried about changing their naira to the country's but rather, they  can simply just do a peer to peer trade and get the currency they want.

I actually surprised myself by meeting very few people like myself -- who found a solution in Bitcoin to cross-border money issues, then only later realised it's because of my passport.

I think the people who usually ask don't live the realities of being someone from the South. We generally take OayPal, Visa, etc for granted but you might be surprised to learn how difficult it can be to access these basic payment services if you don't belong to the typical online user.

No such concern for Bitcoin.

You can solve many of your problems with Bitcoin. You can also use Bitcoin for ease of transactions. Suppose you live in a country where there is no way to transfer money to another country, you can easily transfer that money through BTC without any third party intervention. Or if you want to keep your money private  you don't want some amount of money to be linked to your total money, you can convert that money to Bitcoin. When you convert the extra money to Bitcoin, that money will remain your secret. Beyond these issues, there are many other issues that can be solved with Bitcoin.

Bitcoin makes us our own bank without depending on 3rd party, that's also one of the things that I like about bitcoin. Bitcoin can be used globally as long as there is internet we can use it, but I don't think its use in countries that consider it illegal is worth mentioning. You cannot carry bitcoin with you and use it while traveling in a country where bitcoin is banned. Not only will that get you into trouble with payments, but it could also land you in legal trouble. That's really not a problem bitcoin solves.

I'll be honest, if money is the main issue of your life because you don't have enough, Bitcoin will solve that easily.

If you're going to do cryptocurrency full time, you'll realized that it's better to be your own boss and not work 8 hours a day in a toxic workplace. Bitcoin can give you a lot of money if you know what you should do, a simple buy and sell at the right moment is good enough to make profits but trading is the best if you want more, though you'll need a lot of money and experience in order to make more profits.

For me it solves the borderless transaction issues. Initially I had to go through “Foreign Remittance” form that used to ask me bunch of questions and form filling procedures. All the time I had to put I am providing for the health or education so that the transfer could be processed faster. It was very hectic process to be honest and Bitcoin just speeded up things for me in no time. Now that I can have Bitcoin purchasing on any exchanger or with the p2p methods and even better by earning it online, I could just make transaction to any family members across the border. The best feeling ever you can have. No begging to the banks, no paper trail. Just simple gesture of sending money to loved one.

Money is the main problem for all of us including you, not anyone's problem. It sounds easy, but when it comes to practice, it's not as easy as you say. If making money from bitcoin is so easy, why do so many people struggle and lose money investing in bitcoin? Especially with day trading, it is true that buying low and selling high will make a profit, but how do you know when it is time to buy and when to sell?

My friend, bitcoin is just an investment like any other, it gives you opportunity and whether you can turn it into money or not is up to you. You can get rich from bitcoin but you can also lose everything if you don't invest in the right way.

They lost money because they bought bitcoin but not invest in bitcoin. They bought it and used it for trading, gambling but not for investment. They wanted to invest but they FOMO buy and panic sell, loss is unavoidable by using capital like that.

They can lose money if they store their bitcoin in online acounts, exchange accounts and if they unfortunately have coins on scam exchanges.

They can lose money if they go self custody but did not backup wallet or use weak password and wallet is hacked.

If you are still having trouble saving money, maybe you need to learn some tips that can help you to save some money regularly in your own life. Because in the past I have also experienced difficulties in storing cash or fiat money, but I have no difficulty storing cryptocurrency assets in my personal wallet.

This is because I am more willing to spend fiat money than sacrificing my cryptocurrency assets so that it is easier for me to save cryptocurrency than fiat in the past. But for now I have also learned to be frugal in using fiat money so that I can be more accustomed to saving fiat money along with cryptocurrencies.

If everything was as easy as you say, I'm sure everyone would be doing what they said right now. Some things are not what they seem from the outside. When you get a job, you come across thousands of alternatives and problems. You came up with such an idea thinking that the best possibilities will always come true. But not many people in this world can achieve such a thing.

Bitcoin is an opportunity for many. But it also has risks. Not every investor can achieve the desired result. Many things are required for this. Many of us are here to learn these things and add more to our knowledge.

What by mean of other cryptocurrencies? (Btw I have no problem meant by traditional financial systems, but only the other cryptocurrencies)...
Do you mean what is the value of Bitcoin compared to other cryptocurrencies?
Well, if this is about how Bitcoin or other cryptocurrencies have solved the problems, so far, simply, it is about helping to decrease the financial problems. Do you know how many people are getting a much better life after entering the Crypto market and doing certain activities related to crypto?

One of them is me, Bitcoin and other valuable cryptocurrencies really help me to solve my problems, including my financial problems, I have no job out there at that time and I need money to feed myself and also fulfill my family's necessities. And crypto helps me, from this crypto business, I can get earn to make myself much better and also have some savings and investments. This is only one of the examples and I am sure that there are still many other examples like me, who have a better life because of Bitcoin and other cryptocurrencies. Traditional finance really cannot do this to me as long as my life at that time.

And of course, the is also a new mindset about the financial system about digital currencies, and also about the ways of a business era in this global and digital era. That getting here and in the future, we must have a new mindset in accordance with the development of the times, so that we can adapt ourselves to the technology in the future. What's more, crypto is also expected to facilitate transactions globally more quickly and privately.

Well, you are right though, saving money in cryptocurrencies is more achievable than saving money in fiat, most especially, for those who are not rich just yet and also have a lot of things to spend money on, for such type of people, saving money in fiat is very difficult because it is a generally accepted currency already, spending it is very easy compared to cryptocurrency, you can walk into any store, and even with out cash, but with your card, you will easily spend your fiat money.

But for cryptocurrencies, depending on where you are holding it, you will have to first of all withdraw it to an exchange, and it must be one that offers p2p, or one where you can withdraw to your bank account directly from the exchange after converting the crypto to fiat money, this is a process some people do consider time consuming, so instead of going through this, they will rather just spend what they have in their bank account.

So yeah, for some or most people, saving money in crypto do help them save effectively, much more than saving money in fiat.

There is difference of understanding about bitcoin between people. Some consider it the alternate to the traditional payment whereas there are people who consider it as investment and for other needs. So, it could solve different problems based on the way people use it. However this doesn't serve major problems of economy or social development such as the unemployment, poverty and other factors. There is some kind of misunderstanding among people that usage of bitcoin or increasing adoption could eradicate poverty and increase the employment opportunity.

It does solve a lot of problem. Not all crypto currencies, but some do. Traditional fiat system is centralized and normal people has no say on how things will be controlled. Only few people in power can decided whatever they want and basically they alone "owns" everyone's money. They can print money anytime they wish, they can deny access to your funds if they want and they can seize all your money without your permission. Decentralized currency like Bitcoin solves this centralization issue. And lets not forget that not everyone are able to have or access the banking system. Crypto currencies let anyone from anywhere be their own bank where they themselves have full access and rights to their own coins.

There is no reason to use AI shit to write why and how cryptocurrency (More precisely, Bitcoin) solved some problems. If you continue using AI to write these shits, you will unlikely survive in this forum. You better not use this AI shit and write on your own. I have seen your post history and noticed you are one of my countrymen. You guys are the reason why we people always get attacks from global members.

Delete your AI shit, and never write with AI. If you can write on your own, then come to global threads and write. But, if you cannot, stick to the bounty board where you feel good about participating. There is saying in Bengali ”দুষ্ট গরুর চাইতে শূন্য গোয়াল ভালো”

its decentralized and better option to move money anywhere in the world while old method is not easy compared to btc system

        Do you think that the process of saving money for future investments comes immediately? No, it's not. Only over the years does the relevant experience and knowledge in this matter appear. In addition, there are not many people who, even after many years, come to such an awareness. Everything is quite individual.
         It took me personally more than one year to learn at least something in this matter, but there are still some questions and difficulties.

that is clearly a wrong understanding. those who view Bitcoin as an investment asset have benefited so far. although there are also those who try to follow the investment and then fail. those who view Bitcoin as a payment alternative also benefit. when in the business they are developing, with the use of Bitcoin it is possible to expand the reach of their business development.

but around me, more people think that Bitcoin is an investment asset. so those who know and own Bitcoin are people who earn and do have long term planning. not unemployed trying to get rich from Bitcoin in an effort to reduce poverty.

I'm not sure if you know what is savings meant for - it is for the future. Of course, you can't think it gives you a profit but it was intended for the future when you can't work anymore.
Yes, saving is not an easy task for someone who doesn't have the motivation and purpose of saving. But for those who have, nothing is impossible to them because what is in their mind and their priority when they have money is to save and spend less. There is no need to learn how to save but what we have to learn is to become persistent on our goal and know how to spend our money wisely because if we can't, saving is somehow difficult and impossible.

Bitcoin and other cryptocurrencies solve the problem of value transfer without the use of a third party (such as a bank). It is secure and respectable, and it is not governed by a single entity. It is also resistant to censorship. Nobody, not even organizations, can prevent you from sending cryptocurrency from one wallet to another. And he offers the opportunity to improve financial stability, reduce transaction costs, and increase transaction speed. Don't combine BTC with other crypto currencies because it's the best crypto and you will not have to be concerned about losing money as you would with other Coins. Simply invest in Bitcoin and leave it alone for the long term to reap the benefits, but you must be patient.

That would be depend on the cryptocurrency you buy. Because if you choose the wrong one it wouldn't give help to you obviously. But literally speaking, cryptocurrwncy can really give help to everyone as long as they know how to choose rightly.

Because for I did now here in this industry is that I applied dca, in which is equivalent of saving money in the future, where the only difference is as time goes by the value could possibly increase in the future.

There are a lot of articles about this already, but I really think this one from 2017  (https://medium.com/@lightcoin/the-problem-bitcoin-solves-8b3944ea77a7#:~:text=With%20Bitcoin%2C%20Nakamoto%20solved%20the,to%20order%20and%20validate%20payments.) is the most relevant. Besides that if you ask me what real problem in my life that's actually solved by Bitcoin (and Crypto) is the way I accept payment from my client. I am a freelance worker and I work with international client, I used to use PayPal, and other similar things that needs few working days to finally arrive in my local bank account, and the fee is quite a lot. With Bitcoin I can receive my payment in less than an hour with much less fee.

Cryptocurrency as an alternative currency in the global financial system that allows for none third-party participation has solved the problem of trance borders money transfers, take for example it only takes you just a mobile phone or a computer to send and receive money globally and this has been a great issue in the past were international money transfers have been hard in the past and even at present time, sending money through the bank to international destination take time and process.
But with a cryptocurrency like Bitcoin, it will only take you a few seconds to get the same value transferred to a Bitcoin wallet which is a big deal in the present time.

In an instant, what crosses my mind is transparency. Bitcoin and its ledger have remarkably fostered a greater level of financial transparency in the world. Even now, there are still many honest individuals who aspire to ensure that the allocation of funds within companies or governments becomes even more transparent. This endeavor propels a healthier work environment and a more forthright government in the handling of organizational expenditures.

This decentralization concept inspires me to uphold honesty in financial management, particularly within the finance division, which plays a crucial role within an organization.

To be frank, investing in bitcoin is very risky, nothing is easy. It is true that bitcoin is a potential investment, but if there is an exact number between winners and losers, I am fairly confident that losers are in the majority. But just because of daydreaming, we only look at the winners and forget that the losers are much more than that.

Making money is never easy even investing in bitcoin. The higher the return, the higher the risk, but not many people think about this, most just paint rosy dreams in their heads.

You've got it, pal. I mean, Im not even up to date on the paperwork at my bank. They have been constantly feeding us propaganda about how "necessary" they are. Then crypto came along and wrecked the whole system. Banks, behold as I create my own currency system! So, who's in charge now?

Bitcoin, the king of cryptocurrencies, doesnt believe in that sort of permission-based hogwash. Not me, honey; its all you! Since it is your own money, you should manage it. You're also correct that the established order needs updating. They hold far too much sway at the moment. Constantly creating new currency as if it were a game. What gives them the right to rule the financial world? Bitcoin eliminates the possibility of having your funds mismanaged in any way. You have the upper hand!

In our specific case we used Crypto to pass money from the EU to South America.

The Bank costs would amount to €55, while Crypto costs 14. Which is the cost to purchase those coins.
It takes 2 days to receive coins. due to the bank transfer.

The coins (LTC) took 2 minutes. 
Over here we have people changing LTC into the local currency.

Fluctuation does not always work in favor.

The main problem which can be solved using cryptocurrencies is the global test of blockchain algorithm, so we can say that BTC and alts are actually enormous testnets. Optimisation solutions can be used later for financial soft and hardware development. Secondly, the total amount is limited, so blockchain systems bring some other experience which can be useful: the money system with no inflation. This is also an important thing.