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Well...both have there pros and disadvantages. There are some transactions you can't do with bitcoin especially where it is an interface business sometimes and or when the receiver do not understand what bitcoin is all about, so you might be forced to make use of paper money.
Anyway ,people would prefer having bitcoin because of its financial value as priority.
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I think investing is also nice, like for instance buying when the price is low and waiting for when it appreciate reasonably is another way to double one's money. You hold it and wait. Making money is most times a patient game and applying 'wisdom '- luck also which applies to betting too.
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I would agree to the earlier comment that everybody have same opportunity to grab some bitcoin depending on when you key in. And then, anything new has its own euphoria thats one reason.
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We have heard this slogan for a long time now and will still hear more. China might have done well to have risen to the level it is now economically due to her max production prowess. We are still watching.
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I guess is just a thought ruminating idea. In any case, it will be a very hard decision to see through especially because bitcoin is decentralized, hence not colonized by a single country. It benefits are numerous & one is that it is creating wealth & built back into the economy. Meanwhile, government is made up of individuals, individuals who also have blood, flash like everybody in this forum - thus, they also would like to make money.
A country at worse might regularize its usage
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In my own opinion, I do think bitcoin gained its prominence because of the volatility & so, I think without that maybe it wouldn't have been this popular. So, you take away its volatility, you might as well see bitcoin losing its popularity.
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At first I thought it was impossible for Bitcoin to be replaced since it is the first cryptocurrency, but you are right, some altcoins may have better features than Bitcoin and people may prefer them instead. Here's an analogy, lets imagine all cryptocurrencies are like mobile phones. Bitcoin is Nokia, and started the mobile phone trend. And soon after everyone started using Nokia. But brands like Blackberry, Samsung and Apple soon created their own phones, and Apple made a major breakthrough with a touchscreen function, where everyone gradually switched to that after a while, and now Nokia is outdated. Bitcoin has our trust now, but other cryptocurrencies might overtake BTC in the future.  Thats just a good analogy. Moreso, nothing last forever as it is said & change is constant. So it is very possible for bitcoin to be outdated either due to its charge, difficulties in exchange and insecurities attached to it. Another crpto like the ones already known could come out stronger and take the lead. |
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Nice... Well, for bitcoin, the more you save or reinvest it, the better because it is speculated to rise more in the future. So, it will be a wise decision to either reinvest safely or hold tightly and not to be carefree to spend it lavishly now.
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A good plan is usually ascribed to a smart person. Thus, in my own opinion, being smart tops. It is the acuity that brings about good strategic moves, plans, winning power, investment knowledge, though not taking away luck too.
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The financial elites shouldn't panic because of bitcoin or new wealth being created by the digital currency. The cryptos are there for anybody to invest on. Anyway , for sure, I guess they wouldnt just like the way bitcoin has made people climb to financial independence with ease on like the difficulty in building finance with paper money. They for sure would be envious.
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Is only the government policies could stop growth of bitcoin thats if it possible given the decentralize nature of bitcoin , otherwise bitcoin has come to stay for a long time. Although, if it does not transform to fiat / paper money, then some day, it will lose it value either to another cryto or something replacing crpto because nothing stays permanent for ever except God.
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Basically many modern societies are capitalist where we have the bourgeois (known as the employers) and the proletariats(known as the employees )- as postulated by Karl Marx.
In my view, the point then is, it is poverty that has made more capitalist to emerge both individuals or country because of the struggle to survive as also opined by Herbert Spencer (survival of the fittest ). Poverty is in the land & people are trying their hands in different fields and daring new grounds and eventually emerging as new employer, you can name them even globally ranging from those who have made there mark in social media, comedy, arts & culture science & technology, health, hospitality industry etc.
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Well, no jobs, under-employment, insincerity & unaccountability by the people in helm of affairs, fraud order of the day but the inhabitants are peaceful & happy people .
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The saying that all that glitters ain't gold is sufficient enough for us to understand that money is not above all things . Yes, it can sustain one from hunger etc and prolong life but definitely can't give one life. Once death calls, money can't do otherwise. God gives life.
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I also think that the volatility is what makes bitcoin thick as it is an avenue for people to get rich faster ,hence its popularity. Thus, if that volatility goes away , I think traders would also look for the next crpto thats volatile and that means bitcoin would crash.
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I don't see bitcoin nor crptocurrencies taking over the place of paper money. It can only be an option or alternative to fiat. So, it will be an advantage to guys who have it now.
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I do believe that banks are still relevant, I mean the big banks that have existed with reputation. They wouldn't just close your account without notice to you with expected response, maybe when the response don't come at a specified time they take further steps.
Meanwhile, you don't keep money in the bank when you have something better to do with it like investment. So when you keep it there, legally it means you have given the bank the money to the bank to invest for you & give you certain percentage (usually very small ) since you can't take the risk on your capital yourself. Also, talking about bitcoin investment, you can lose it all when you are frauded
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Government won't have no choice than to accept the new digital currency. Btc would even help people to get out of poverty line. Thus, the government should look for measures to incorporate bitcoin in their financial activities.
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Can you really be sure you will profit unless you have insider info?
In some aspects, it is. You'll need to analyze which coin will give you profit and which won't. There are also scamcoins that you should avoid. You better be careful about coins with unfamiliar names and with suspiscious price. Also, it will be better if you'll make a research about the background of the coin you'll trade with. You may also consult the seniors that knows lot of things in altcoin trading. Observation will also help you to avoid losing money. Nice advise menh... I think we need this kind of sound advice in this forum. Meanwhile, I think what moves crypto market are speculation / fear, huge crypto investment etc. Not necessarily guess but you also need education to pick out the best decision at the point in time. |
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Nope ,not until so many things are put in place like transfer charge, awareness etc and it is still an "internet money" as referred in some places. So, if it is an internet money ; that means internet facilities are needed to also acquire it. Hence, the facilities have not gone round & so many people are still either not using computers or are inefficient on it. 6 years is very near.
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