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Author Topic: Why have Bitcoin instead of cash?  (Read 246094 times)
NEWGOODOUBLE
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March 16, 2017, 11:49:57 PM
 #2101

I think it's obvious that bitcoin is a technology of the future.and cash is not money that is used to pay in the future. everything will be all-digital right ?

I'm not sure that everything will be completely digital. There are many countries where this system is poorly developed - there paper money is very popular. The world is not all ready for the transition to a digital currency
I think the technology will evolve I know paper money is still very popular in some countries but time will change it all? inevitably will become more sophisticated transactions in the form of digital
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March 17, 2017, 12:18:30 AM
 #2102

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
   
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March 17, 2017, 12:54:27 AM
 #2103

I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.

1) More security (especially if you are careful).

2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.

3) Fast, worldwide transactions at your fingertips.

4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.

Bitcoin is more convenient, easy to handle, no need to bring some cash, you can withdraw anytime, sending money without fee.
You can also invest, trade, and buy anytime you want. Bitcoin's value is getting higher by the time goes by.
Some country was just using atm/mastercard to purchase in malls,supermarket and more. Bitcoin can be use just like that if they know the value of it.

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March 17, 2017, 07:47:18 PM
 #2104

I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.

1) More security (especially if you are careful).

2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.

3) Fast, worldwide transactions at your fingertips.

4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.

Bitcoin is more convenient, easy to handle, no need to bring some cash, you can withdraw anytime, sending money without fee.
You can also invest, trade, and buy anytime you want. Bitcoin's value is getting higher by the time goes by.
Some country was just using atm/mastercard to purchase in malls,supermarket and more. Bitcoin can be use just like that if they know the value of it.
in modern time and specially in big cities it is very common to use online means for shopping and so many other purpsoes, therefore to them bitcoin is the most convenient way to use for shopping and also for other activities like online trading and online investment.

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March 17, 2017, 08:34:26 PM
 #2105

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
   


Bitcoin is better than cash, reason is it is decentralized, more secured, easy to use and easy to convert. Major benefit is by saving the btc you can easily get the benefit from it. where as in the case of currency the value of currency goes down due to inflation.   
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March 17, 2017, 09:21:52 PM
 #2106

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
   


Good points, many areas where we see the benefit of btc then cash. cash if you are earning the details we have to show the government here whatever you earn it will be with you only. More convenient in terms of transferring the money to other people, less effort than withdrawing money from the bank and much more. 

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March 17, 2017, 09:24:06 PM
 #2107

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
   


Good points, many areas where we see the benefit of btc then cash. cash if you are earning the details we have to show the government here whatever you earn it will be with you only. More convenient in terms of transferring the money to other people, less effort than withdrawing money from the bank and much more. 

Yes and when it comes to cash you also need to pay income tax to government depending on your income which is totally missing in bitcoin and no one can know how much money you are holding in the form of bitcoins and that makes it a very unique currency.

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March 18, 2017, 09:48:54 AM
 #2108

I think it's obvious that bitcoin is a technology of the future.and cash is not money that is used to pay in the future. everything will be all-digital right ?

I'm not sure that everything will be completely digital. There are many countries where this system is poorly developed - there paper money is very popular. The world is not all ready for the transition to a digital currency
I think the technology will evolve I know paper money is still very popular in some countries but time will change it all? inevitably will become more sophisticated transactions in the form of digital


I think the paper money will not be fully replaced. But the digital money will be use more widely.

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March 18, 2017, 12:15:04 PM
 #2109

I think it's obvious that bitcoin is a technology of the future.and cash is not money that is used to pay in the future. everything will be all-digital right ?

I'm not sure that everything will be completely digital. There are many countries where this system is poorly developed - there paper money is very popular. The world is not all ready for the transition to a digital currency
I think the technology will evolve I know paper money is still very popular in some countries but time will change it all? inevitably will become more sophisticated transactions in the form of digital


I think the paper money will not be fully replaced. But the digital money will be use more widely.

Paper money will never being replaced, paper money is used so the country not fully depend on internet transaction, in the future people will prefer to used digital money for big transaction because it is safer and more efficient, but no matter what, paper money will still be available in every country and will never be replaced
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March 20, 2017, 03:48:44 PM
 #2110

The way I see it, Bitcoin gives us the true freedom of currency. We are not dependent upon any system to use our money. So it basically is and always will be BTCFREEDOMBTC
To be honest, while the freedom is nice it’s also a little nervous sometimes. For what I have in Bitcoin, the only stability it has is that I have to trust that other people also say that one bitcoin is worth a lot of money. If a bunch of those people suddenly stopped trusting BTC and pulled out I’d be dead in the water.

But with USD, the euro, or even investing in a relatively stable stock or index fund I have the comfort that there’s something behind it. Even if I have concerns about the government, they don’t extend so deeply that I’m worried my money will become worthless, and very few other people think that way.

I have to turn some power over to a larger and more controlling organization when I put money into any of those things, but I know that my money is most likely safe.
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April 08, 2017, 07:56:47 AM
 #2111

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.
Yeah it is ! Bitcoin is really like an invisivle gold because no one is seeing how much is your bitcoin than cash people are seeing how much your money worth because of the banks they check how much your deposit and your withdraw.
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April 08, 2017, 08:42:13 AM
 #2112

Where else can you just stick some money into your wallet and find it's value much larger in a few days?

The way I see it, Bitcoin gives us the true freedom of currency. We are not dependent upon any system to use our money. So it basically is and always will be BTCFREEDOMBTC
To be honest, while the freedom is nice it’s also a little nervous sometimes. For what I have in Bitcoin, the only stability it has is that I have to trust that other people also say that one bitcoin is worth a lot of money. If a bunch of those people suddenly stopped trusting BTC and pulled out I’d be dead in the water.

But with USD, the euro, or even investing in a relatively stable stock or index fund I have the comfort that there’s something behind it. Even if I have concerns about the government, they don’t extend so deeply that I’m worried my money will become worthless, and very few other people think that way.

I have to turn some power over to a larger and more controlling organization when I put money into any of those things, but I know that my money is most likely safe.

I understand this. Must be nerve-wracking to see all your btc in your wallet suddenly worth much less than what you paid for it. Happened to me few weeks ago so I took out some of them. Now it's going back up again. I suppose we just have to be prudent and vigilant. Don't go all in in bitcoins, try to still have some saved in traditional investments. At least should btc totally crash and don't recover, you wouldn't be left out in the cold.

Maybe just send some btc to an exchange during peak and convert to fiat but don't cash out, and then use that to buy more btc during plunges?
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April 09, 2017, 11:27:23 PM
 #2113

Very good points. I'd like to add:

5) Banks can't steal it from you. You may think they can't steal cash either; that's not true. With central banks printing money by the hundreds of billions, and commercial banks creating money as debt like there's no tomorrow, they're effectively lowering the relative worth of your money in their advantage. Remember: stealing 5% off your deposit, or increasing the total money supply by 5% by creating it out of thin air, has essentially the same effect.
That's right dude, with bitcoin decentralization no one can really control your own savings money, no more interest average in every transaction your gonna made, because with bitcoin your are the bank of own money.
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April 09, 2017, 11:33:28 PM
 #2114

Where else can you just stick some money into your wallet and find it's value much larger in a few days?

The way I see it, Bitcoin gives us the true freedom of currency. We are not dependent upon any system to use our money. So it basically is and always will be BTCFREEDOMBTC
To be honest, while the freedom is nice it’s also a little nervous sometimes. For what I have in Bitcoin, the only stability it has is that I have to trust that other people also say that one bitcoin is worth a lot of money. If a bunch of those people suddenly stopped trusting BTC and pulled out I’d be dead in the water.

But with USD, the euro, or even investing in a relatively stable stock or index fund I have the comfort that there’s something behind it. Even if I have concerns about the government, they don’t extend so deeply that I’m worried my money will become worthless, and very few other people think that way.

I have to turn some power over to a larger and more controlling organization when I put money into any of those things, but I know that my money is most likely safe.

I understand this. Must be nerve-wracking to see all your btc in your wallet suddenly worth much less than what you paid for it. Happened to me few weeks ago so I took out some of them. Now it's going back up again. I suppose we just have to be prudent and vigilant. Don't go all in in bitcoins, try to still have some saved in traditional investments. At least should btc totally crash and don't recover, you wouldn't be left out in the cold.

Maybe just send some btc to an exchange during peak and convert to fiat but don't cash out, and then use that to buy more btc during plunges?
You could also find that its value was much smaller in a few days.  You have to be wary of holding all of your money in Bitcoin - currently, I would spend fiat when Bitcoin is low and Bitcoin when it's high.  When Bitcoin rises more it'll naturally become a more stable rise and I'll spend with Bitcoin more often.  Generally, it's because Bitcoin will beat inflation in the future by stopping new Bitcoin being created.

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April 09, 2017, 11:35:54 PM
 #2115

I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.

1) More security (especially if you are careful).

2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.

3) Fast, worldwide transactions at your fingertips.

4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.

Bitcoin is more convenient, easy to handle, no need to bring some cash, you can withdraw anytime, sending money without fee.
You can also invest, trade, and buy anytime you want. Bitcoin's value is getting higher by the time goes by.
Some country was just using atm/mastercard to purchase in malls,supermarket and more. Bitcoin can be use just like that if they know the value of it.
in modern time and specially in big cities it is very common to use online means for shopping and so many other purpsoes, therefore to them bitcoin is the most convenient way to use for shopping and also for other activities like online trading and online investment.
You are right I am also using bitcoin for my convenience to transact to any online site for shopping or for buying any online service like domain suppose if I will need a domain then without going to my bank account I can easily buy with bitcoin
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April 10, 2017, 03:45:05 AM
 #2116

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
   


Bitcoin is better than cash, reason is it is decentralized, more secured, easy to use and easy to convert. Major benefit is by saving the btc you can easily get the benefit from it. where as in the case of currency the value of currency goes down due to inflation.   

If we talk about savings and accessibility it is a positive point for bitcoin since fiat currency cannot do that thing. Bitcoin can be used around the globe without converting it to fiat currency. But let us not forget to also keep hold of paper money since not all areas in all country has an internet connection especially the outskirts and that is why I prefer bitcoins for savings and paper money for purchases.
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April 10, 2017, 08:37:24 AM
 #2117

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Using of bitcoin it helps because it’s fast, it’s cheap, central governments can’t take it away, there are no charge backs, people can’t steal your payment information from merchants, it isn’t inflationary, it’s as private as you want it to be, you don’t need to trust anyone else, you own it, you can create your own money.
   


Bitcoin is better than cash, reason is it is decentralized, more secured, easy to use and easy to convert. Major benefit is by saving the btc you can easily get the benefit from it. where as in the case of currency the value of currency goes down due to inflation.   

If we talk about savings and accessibility it is a positive point for bitcoin since fiat currency cannot do that thing. Bitcoin can be used around the globe without converting it to fiat currency. But let us not forget to also keep hold of paper money since not all areas in all country has an internet connection especially the outskirts and that is why I prefer bitcoins for savings and paper money for purchases.

Yes you buy btc and hold them and wait for the price to rise and then sell them for $. I heard companies are working on to bring internet to more areas around the world. I heard about using drones with Wi-Fi antennas that people can connect to for free, says Zuckerberg. So we can access internet more easily in the future and it will benefit bitcoin! Think about it,  internet would be omnipresent in the future.

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April 10, 2017, 09:32:07 AM
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Bitcoin instead of cash because of its fast transactions sending money anywhere that cost less fees. Freedom to save money in your wallet and easy to use. Easy to convert into with hassle free.
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April 10, 2017, 10:02:59 AM
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Bitcoin instead of cash because of its fast transactions sending money anywhere that cost less fees. Freedom to save money in your wallet and easy to use. Easy to convert into with hassle free.

And the most important reason is that cash can get stolen or can be robbed but your bitcoins are really safe in your bitcoin wallet and no one will know how much wealth you are carrying so there is no scope of getting robbed by the thieves.
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April 10, 2017, 10:47:53 AM
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you forgot to mention low fees.

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