 Show Posts
|
|
Pages: « 1 2 3 [4] 5 »
|
I believe it's the future. Crypto is better than fiat in every way imaginable, except that the world understands, trusts, and uses fiat. Once that scale starts tipping and bitcoin is easier to understand, people start building trust, and it becomes more widely adopted, there will be a total of zero reasons the world will continue to use fiat over crypto. The only difficulty in that happening will be corporations and governments that will be unable - by definition (which is the scary part) - to adopt it. That's when a revolution comes in to play, and the world changes forever.
Fiat will exist as long as governments will do, and people will be forced to use it if they are going to pay taxes or get paid themselves for offering their services in the public sector. Therefore, I don't think it is quite correct to say that there will be totally no reason to use fiat. Governments are powerful and as long as they remain so, they won't accept Bitcoin as a viable alternative to fiat money. I mean, for example, as legal tender for paying taxes. maybe you're right, if the government will not make legal use of bitcoin as an alternative, but basically bitcoin has been used as a substitute for cash payment alternative for now. fiat probably will still exist, but, I guess when everyone knows that bitcoin has the potential to make them benefit, probably bitcoin could have equal popularity with fiat, even when the government made illegal menjadl bitcoin. Those are good points. I think that if large segments of the population were to start using Bitcoin as their primary currency, that would mean that peoples' notion of government has changed. They would be using a form of money that basically keeps the government completely out of their business. It would also mean that people have rejected central banking. That would be a revolution. But consider also that roughly half of the population does want the government to be involved in the economy. This means that categorically half of the population would not favor Bitcoin (or similar) becoming the primary currency. |
|
|
|
|
Most people don't know about Bitcoin. And most of the people who know that there is something called Bitcoin, don't actually know what it is. It's something that they've seen talked about on TV, at times when Bitcoin makes big gains in value. And especially older generations, they just think of it as some high tech stuff that they rather not even try to learn about.
For more people to learn about Bitcoin, they would have to see it more often and become familiar with it. For example, if a lot of the ATMs have the Bitcoin Logo, or when people make payments in a shop or restaurant, if they see the Bitcoin sign, they'll start thinking about it as some other method of payment, just like Dollars or Euros.
|
|
|
|
So you basically don't know?
From what I read here, lending bitcoins is more like playing Russian roulette. I guess you wouldn't call gambling as a business unless you are a casino owner yourself? If you are a borrower, Bitcoin banks would obviously require real collateral. In this way, on the one hand, borrowers will be discouraged from defaulting on their loans, and, on the other hand, deposits in such banks will be protected by proper collateral. In respect to everybody being be able to learn all they need to know to be independent, most ordinary people can't even install MS Office without help, let alone manage their desktop Bitcoin wallet
It is quite simple. If you are borrowing money to someone and do not get it back and also have no collateral, then you are doing something wrong. You should change something or let it go and stop lending money. Learn or leave eave the business to people who can do it profitable. And do you really think people are to dumb to install Office? All they need is some proper training. Some are maybe to lazy or whatever, but everybody can learn it. If people have to they manage. If your life depended on the ability to swim, then you would learn it for sure. Were you born with the knowledge how to cross a street or did you first had to learn it? Just like most of us had to learn how to use a bank account, credit cards and stuff like that. You analyze this situation in isolation It is not about if people can or cannot learn something (they sure can if properly motivated). The question is basically about choice, not learning as such. If they can use web wallets and they don't need to install some abstract MS Office, the process which they likely don't consider as worth the effort, they will most likely choose the first option. I'm heavily inclined to think that if there were no web wallets, many people wouldn't use Bitcoin at all For me web wallets and banks are not necessarily the same thing. Giving people a choice is not always a good idea. We teach our kids math in school, because if given the choice most would rather play outside. But those kids would have a big problem later in life. So sometimes it is ok to force someone to learn something, but this is just my opinion. I think if you ask somebody if he is glad that he was forced to learn math or the use of desktop wallets, then most would agree. Obviously, we are not talking about kids But the assumption that giving adult people choice is not always a good idea itself works against your own considerations. First, who is to decide what is best and what is not, what is to be chosen and what is to be abandoned? Second, I could just as well claim that giving people choice in respect to which money to use (fiat or Bitcoin) is a bad idea on its own as well, and they should just stick to fiat (then see first). And last but certainly not least, isn't Bitcoin itself all about having choice? I feel like a deal with kids all the time in the crypto world. I imagine that we gave children choices at the beginning, but they fucked it up so bad, that we decided it would be better to give them rules. And what is the best sign that someone has become an adult? They break our rules, because they see a better way that goes against the rules and still decide to break the rule and make a new and better one. In my opinion this is why we call Bitcoin a revolution! What will banks charge for providing Bitcoin accounts? What Bitcoin related services will they be charging fees for? How will banks entice customers to pay the fees for these services? I wrote about this before. They could either charge fees for extra security features (for deposits and perhaps for Bitcoin transactions), or they could guarantee deposits up to certain amounts (the government would have to do this). But this also means that bitcoin accounts will be taxed. And it also means that the accounts can't be anonymous. |
|
|
|
If no one spends bitcoin , it will not help in rising the bitcoin price . better is always more and more people should use bitcoin as transaction method , then we can see more popularity for bitcoin and hence there will huge demand also  What causes the price of Bitcoin to rise is not spending (meaning, consumers purchasing things using Bitcoin). What causes the price to rise is people (or companies) buying Bitcoins. This results in, Bitcoins that are available on the market being sold at that current price, being sold out, and any additional Bitcoins only being available, at a higher price. |
|
|
|
This is a great idea. Of course I was very happy to hear this information. I can get the services that will make me able to save bitcoin. but there should be a institutions arranging to be able make this reliable service Bitcoin BANK.
There are two reasons for people depositing any kind of money into a bank; Securing assets, and earning interest. If any bank could offer advanced security features, for securing Bitcoin, or if they were to declare that deposited Bitcoins are secured (by the government) up to a certain amount, then some people might consider it. But depositing Bitcoins into a bank would undermine anonymity, which is one of the great advantages of Bitcoin. As for earning interest on Bitcoins, that doesn't really need to be done via a bank. Any online lending service, that acts as an intermediary between a borrower and a lender, could fulfill that role. |
|
|
|
I think the reason why people hate bitcoin because they were exploited by the scammers that uses bitcoin as tool. This are people that ignore doing research before they do their investment. If they only knew the real feature of bitcoin I am sure that they will like it.
Yeah right almost 80% in the internet are thinking that bitcoin is scam they dont know how bitcoin works and what is a good benefits of bitcoin.. They are afraid to be scam this is the first and common problem.. Bitcoin is a very different form of money than what people are used to. And they think of bitcoin as something shady. They don't focus on the advantages of bitcoin. Perhaps they don't even know about its advantages. Most people are waiting for bitcoin to become more popular, to consider starting using it. |
|
|
|
Bitcoin is decentralized, while governments want things to be centralized, that's why it's not something they would want to get involved with. Governments would have to have some kind of advantage, to start using bitcoin. Or, if the majority of people start using it, and therefore businesses and companies, then governments would also have to start using it. Governments might actually try to create their own version of bitcoin.
Why people stubbornly continue to repeat that mantra about Bitcoin being decentralized? It has long ceased to be... I meant that it is decentralized in the way that there is no central bank backed by government control, when it comes to bitcoin. There is no central authority that can legally manipulate the price of it. |
|
|
|
I don't think bitcoins have a good futur. Not much people use them and there is no real use for these people. The problem is that the people that doesn't use it is the majority of the planet. And you, what do you think about this? Will bitcoins have a glorious future or a realy bad one?
Bitcoin is just in its development phase. But even though it's just been a few years since bitcoin came into existence, there are many people that have started using it. As long as people don't lose confidence in bitcoin, it will be used by more and more people and businesses. The only reason why bitcoin might not be used in the future would be because some more advanced version of bitcoin might come about; Making bitcoin obsolete. But there will probably always be demand for this form of money. There's the question of, will bitcoin become the dominant form of money used. And that's an entirely different question. |
|
|
|
Banks would not disappear. Maybe the way banking works might become different, but even that is a remote possibility. What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along. |
|
|
|
I read this article the other day: https://www.cryptocoinsnews.com/bitcoin-safe-asset/Read it and come back here, let's discuss this question together. Do u think Bitcoin is a safe asset? The article defines it this way: A safe asset is one people go to during uncertain economic times. In normal times, a safe asset is one that people hold despite a low return rate, possibly due to its use as a hedge, or liquidity characteristics. How do u perceive the Bitcoin? ~CfA~ Well, it's a new form of money, which doesn't have much of a history. And also, it depends on the internet. There's also the volatility of the price. It may be considered safe because it's decentralized. The government can't play around wth the price of it. I think people are putting their money into bitcoin now because they think that it's a good investment. And it may turn out to be a good investment. |
|
|
|
|
Bitcoin is decentralized, while governments want things to be centralized, that's why it's not something they would want to get involved with. Governments would have to have some kind of advantage, to start using bitcoin. Or, if the majority of people start using it, and therefore businesses and companies, then governments would also have to start using it. Governments might actually try to create their own version of bitcoin.
|
|
|
|
|
The future of bitcoin depends on the level of adaptation, and also the price stability. If the price becomes more stable, it would attract more consumers. This will also attract more businesses, and more of them will start accepting bitcoin as a payment option.
But it is difficult for it to replace banks because there are many people who believe in the traditional banking system.
|
|
|
|
|
The price of bitcoin matters, with regards to the exchange rate with other currencies. Bitcoin's "value" is defined by that. The simple reason is because all the economic activity in the world is defined by those other currencies. And most people are making their income with the established currencies. So, if they want to buy bitcoin, they're gonna do it by buying it with dollars or euros etc. And when you want to purchase something that cannot be purchased with bitcoin, how much of the particular fiat money you can buy with it will be important.
|
|
|
|
|
The entire world economy is based on fiat money. The US dollar isn't backed by anything anymore. It used to be backed by gold. So, the Federal Reserve is just creating it out of nothing. But it still is the form of money that the whole world uses.
Most business and companies don't accept bitcoin for transactions. Until bitcoin becomes very prominent, everyone has to use fiat money.
|
|
|
|
|
There are many differences between gold and bitcoin. It's true that gold is a rare commodity, but bitcoin is actually limited in how much bitcoin there can exist. As the demand for gold rises, miners mine more gold, but bitcoin has a total limit. This would mean that the price of bitcoin will go up, in the long term.
On the other hand, gold has an intrinsic value, whereas bitcoin is entirely speculative, and doesn't have any other use other than being an exchange medium.
Also, gold is accepted all over the world, in transactions, but bitcoin is not accepted by everyone.
|
|
|
|
|
There are two different topics here; The safety of bitcoin as an investment, and the security of your bitcoins.
For securing your bitcoins you need to secure your wallets with a strong encryption. Bitcoin is always safe only if it is a safe wallet and safe transaction. Bitcoin is also more transparent than other types of assets.
As an investment, bitcoin is very volatile, so it's better to diversify with other investments.
|
|
|
|
|
For people, it means choosing between a form of money that they've been familiar with for a long time and something that is new. Also, knowledge about bitcoin is not enough. Because, if they don't fully understand what bitcoin is, and its potential and advantages, they really won't be interested in using it.
To make bitcoin more secure and accessible, new features and services are being developed. Improvements in these areas will make people more comfortable using bitcoin.
|
|
|
|
|
The only people who hate bitcoin is just the people who are in the banking industry. And also perhaps some government people.
It's not that ordinary people don't like bitcoin, it's just that they haven't had a chance to know more about bitcoin; If they knew more about it, they would perhaps be quite interested.
If there are people who hate bitcoin, it's probably because of media propaganda.
|
|
|
|
|
If by money, you're referring to money created by the government, you have to invest it. That type of money loses its value over time, as central banks create more of it.
If you're talking about bitcoin, well, bitcoin actually is a form of investment. But if you put all your money into just one investment, that would be risky.
You should diversify your investments. But diversifying too much is also perhaps not good. It's better to choose 2 or 3 good investments.
|
|
|
|
|
The truth is that many people believe bitcoin is a potential investment, rather than cash. If there weren't so much volatility in the price of bitcoin, most people wouldn't be so interested in it.
Bitcoin still needs more time and many things to prove, to become a form of money that the majority of people would be using for their daily transactions.
|
|
|
|
|
