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1  Bitcoin / Bitcoin Discussion / Re: Money vs Bitcoin on: April 03, 2024, 07:22:08 PM
FIAT ( USD, EUR, GBP, JPY etc) is not money.

This is the only comment that have made me relief. Fiat is not money.
Money's definition is any thing that can be used to exchange goods from one person to another, in a lay man understanding. From barter exchange to cowries, golds and silver,  boiling down to fiat ( this is when the existence of fiat or paper money emerged). As man advances in technologies like ICT emerged e-money, bank wire, credit and debit cards etc...

2009 Almighty btc emerged. Without money no BTC.
2  Bitcoin / Bitcoin Discussion / Re: Money vs Bitcoin on: April 03, 2024, 04:55:10 PM
Quote

The comparison in the title "Money vs Bitcoin" seems irrational to me, because money and bitcoin are already in different categories


I think it's polite to read to understand. Money is a movement that gave rise to Bitcoin. Bitcoin didn't just emerge, money went through series of innovations that gave way to Bitcoin to be born. It has every right to be undermine due to the spawn and ill the creation of money has brought to the society. Don't confuse money to fiat. The difference is parallel.
3  Bitcoin / Bitcoin Discussion / Re: Crypto or Real estate on: April 03, 2024, 04:23:38 PM
Comparatively, the difference between real estate and Bitcoin is that of the difference between six and half a dozen.
Both investors are profit conscious: the bitcoiners anticipate a bull run in every four years of holding, that of the realtor; the value of assets/landed properties appreciate overtime.
In terms of the lose associated in Bitcoin and real estate, I'll say the difference is that of the difference between matches and lighter.
The Bitcoin is a volatile market and decentralized, no one is held responsible for any illicit act.
Real estate on the other hand is centralized which its profits and activities is controlled and regulated by a body of authority.
4  Bitcoin / Bitcoin Discussion / Re: Money vs Bitcoin on: April 03, 2024, 03:52:09 PM
Here comes bitcoin in 2009 the only digital currency that can now be used as a store of value or as currency reserve for the future.

Bitcoin is a revolution not am evolution, everything in the world is going digital. Looking at the evolution of money, money as a medium of exchange began with barter exchange, as man advanced the commodity means of exchange emerged; the use of cowrie shell, Gold, silver and other valuable commodities. From there, boiling down to paper money (fiat currency) to credit card, to bank wires to cryptocurrency which Bitcoin is the boss.

 
Fiat currency has never been used as a store of value.

Indeed money had served as a stock of value
5  Bitcoin / Bitcoin Discussion / Money vs Bitcoin on: April 03, 2024, 03:04:20 PM
Money is supposed to be a medium of exchange, unit of an account, and a store of value. However, our money today is far from a store of value. Nowadays, people must earn their money twice: first, work to earn a paycheck, and secondly, figuring out a way to invest a portion in assets or financial products because their money lose value due to inflation and currency debasement.

While Bitcoin is chiefly a system for transferring digital value, it is inherently and always will be so much more than just that.
The blockchain truly is a marvelous piece of technology. A mechanism to timestamp the order of digital information without needing to depend on a centralized operator. A decentralized mechanism with no one in charge, that provides undeniably cryptographic guarantees around what data was added to the temporal record in what order. This property is the entire reason Bitcoin is useful as a form of digital money, without it there would be no way for the system to function at all without a centralized authority.

Bitcoin is not just money, and no matter how many times people chant it is only money and nothing else, it will never be true cos all of these guarantees are provided by three simple technical building blocks: private/public key cryptography, merkle trees, and hash algorithms.
Bitcoin is a digital monster, and it will eat everything. The only thing challenging the existence of Bitcoin is "time" cos as time goes, Bitcoin goes.

6  Bitcoin / Bitcoin Discussion / Re: Profiting from BTC: just luck? on: April 02, 2024, 06:57:32 PM

I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?
[/quote]

In this life, I don't believe in coincidence. Things happen for a particular purpose. Money have past concurrent series of evolution boiling down to the present day digital currency.

The evolution of money can be dated down to when people exchanged goods for goods; which is referred to as barter exchange. To limit the barter exchange, money exchange got to the stage of  commodity money, were exchange were done with commodities like cowrie shells, salts, animals etc. As the society advanced the need to produce coins as a means of exchange emerged. While coins were effective, it was a lot of burden to carry large amounts of metal around. This gave rise to the concept of paper money. As economies expanded and grew, trade became more complex. Banks emerged and provided services such as lending, taking deposits, and safe storage of money. The 20th century saw the introduction of digital payment systems like debit cards and electronic banking.
In recent times, we’ve been introduced to a new era of money – digital currency, of which Bitcoin is the most popular.

Nothing happens for nothing.

Bitcoin is a revolution that can't be stopped;
The only thing  capable of challenging the existence of Bitcoin is time. Ones there's time the existence of Bitcoin is infinite.
7  Bitcoin / Bitcoin Discussion / Re: DCA: the power of little beginning on: April 02, 2024, 03:05:40 PM
I feel this topic is targeted to me. I have heard of Bitcoin ever since 2014, but perceptions surrounding the innovation of Bitcoin made it so skeptical to ponder on. A friend who introduced it to me insisted I deposit $100 before I be part of the great deal. I couldn't afford it. I was so naive didn't blame myself for my clumsiness towards it. Not untill early this year 2024 I came across this forum, despite I was deprived from comments I learnt of DCA, made little research which later killed the boy in me for the man to be born. I summoned some courage, I got some quantity of Bitcoin I could, one which I can afford to lose. Bump I watch my money grow, at subsequent times, I purchased much coins. My 10 year long awaited dreams came to pass in this forum.

I'd love to post screenshots of my purchases this year to solidify my proof, but I find it very difficult to do. Hoping to master the forum fully in subsequent times.
 
8  Bitcoin / Bitcoin Discussion / Re: We should be looking only at the brighter side on: April 02, 2024, 06:39:35 AM
Investors should understand the financial markets and take a well-considered approach to investing. No stock investment is a sure thing, and Bitcoin is no exception. However, with the right strategies, investors can capitalize on Bitcoin's potential for high returns while mitigating the risks associated with this market.

Nonetheless, the world sees a bullish run. Well, myself I see rollercoasters.
9  Bitcoin / Bitcoin Discussion / DO NOT BRAG ABOUT YOUR BITCOIN on: April 02, 2024, 12:04:36 AM
Many experts believe Bitcoin's surge to over $72,000 is just the beginning of its potential growth. Investors may also see this surge as a validation of Bitcoin's potential as a long-term store of value. It is important you do not brag about success. Don’t share how much you have with others. This should be obvious, but there are people that may not be so excited for you. They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target. This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.
10  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin a scam on: April 01, 2024, 06:42:10 PM
Of course Bitcoin possess the scam attribute. In the land of the living it is right to suit yourself however you understand the life. One saying Bitcoin is a scam is right cos of the nature of the market. Everyone cannot say good about Bitcoin, most people have experience the worse aspect of Bitcoin in various dimensions. But one thing I'm so sure is guaranteed in Bitcoin market is "profit" and "loss".
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