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Author Topic: Why have Bitcoin instead of cash?  (Read 246094 times)
just a man
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June 30, 2017, 12:36:06 PM
 #2561

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Yeah, the guys that built their banking system could make up values that allow them to have as much money as they want. If those people within that bank can do some basic math then they will be able to do something like that without having to worry so much about the IRS.

It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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June 30, 2017, 09:12:52 PM
 #2562

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.

The current one has not failed yet.
It's going to at a certain point just like we have managed to break a lot of them in the past.
It's not the fault of the design it's the fault of the people behind it.

And somewhere in the future there will be a stupid idiot who with all his might will try to improve bitcoin and manage to bring it down.
But hopefully I won't be around when history repeats itself.

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June 30, 2017, 09:49:42 PM
 #2563

you can carry unlimited bitcoins with you and cross borders/countries withour raising alarm..

Indeed.
Like you  don't borher walking in the streets with huge amount of btc in your pocket knowing it will be safe from thieves.
All you need is to secure all the information you need to access your account, that is the great thing about bitcoin and since more
stores are accepting bitcoin now we can use it to buy what we need or cash out some time since there's debit cards as well.

Right if we secured all  the information about our account so no one can reach hack our account and also we need to more secure our own account .More , yeah you right many stores accept bitcoin and we can buy things and if some countries or store cannot accept bitcoin we can easily convert bitcoin into fiat money and then use it.
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July 01, 2017, 04:12:16 AM
Last edit: July 07, 2017, 02:38:51 AM by Silberman
 #2564

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.
Probably the number 2 reason that you offer is the best of all, cash is not an investment, in fact it is just a way to lose money in the long term while having bitcoin can be one of the best investments at the moment especially now that the price of all cryptos seem to go down, it seems we are going to have the opportunity to buy bitcoin for cheap once again.

Yes, Cash won't help you increase your value, but investment such as Bitcoins will surely increase your valuation of your money.
But also transacting worldwide with ease is another reason for many including me to have Bitcoins.
I do not know why some people are so set on only holding cash, there are people that literally have cash under their mattress, but by doing that they do not realize they are losing money, the only thing to do is to always have your money working for you, invest it, use it for trade, because if you don’t you will be losing purchasing power every day of the week.
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July 01, 2017, 04:24:59 AM
 #2565

I like bitcoins simply because it is quite safe and the price can increase rapidly compared to cash.. It is also hard for the government to simply take bitcoin from you like they do in implimenting taxes
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July 01, 2017, 06:53:24 AM
 #2566

I like bitcoins simply because it is quite safe and the price can increase rapidly compared to cash.. It is also hard for the government to simply take bitcoin from you like they do in implimenting taxes
That’s what I like about Bitcoin as well since the people that use it is not fully under the whole Banking companies that are out there. Banks can do whatever they want if they felt like it once the money is in there they can take it away or have it their system without it gaining any interest.

 
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July 01, 2017, 07:05:55 PM
 #2567

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Monetary system never goes fail. But there may be some issue or it goes down. While people are investing in bitcoin and altcoins so now a days crypto currencies are willing by banks. Banks want that government allow the crypto currencies in banks. So there monetary system will be also better and crypto will be also in a benefits.
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July 01, 2017, 08:22:47 PM
 #2568

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Monetary system never goes fail. But there may be some issue or it goes down. While people are investing in bitcoin and altcoins so now a days crypto currencies are willing by banks. Banks want that government allow the crypto currencies in banks. So there monetary system will be also better and crypto will be also in a benefits.

Yes, this is correct. Bitcoin or cash, they don't need to kill each other. We can find an equilibrium where both of them lives in harmony under conventional economic system.
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July 01, 2017, 08:32:15 PM
 #2569

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Monetary system never fails but in a current era it is become a weak and it is getting weakling maybe it will be fail in a future so yes it is never fail if the issue is maintain like this then soon it would be failed. That’s why people are changing to best side which is known as crypto currencies specially changing to bitcoin.
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July 02, 2017, 04:18:57 PM
 #2570


I do not know why some people are so set on only holding cash, there are people that literally have cash under their matters, but by doing that they do not realize they are losing money, the only thing to do is to always have your money working for you, invest it, use it for trade, because if you don’t you will be losing purchasing power every day of the week.

You mean you don't know why people aren't that eager to lose all their money in a crash?
I'm pretty sure the guys in 1930 would have loved to invest and trade again after the great depression.

And by the way, purchasing power has decreased here by only 4.2 in the last 5 years.
We're "risking" deflation if things go this way.

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July 02, 2017, 05:31:55 PM
 #2571


I do not know why some people are so set on only holding cash, there are people that literally have cash under their matters, but by doing that they do not realize they are losing money, the only thing to do is to always have your money working for you, invest it, use it for trade, because if you don’t you will be losing purchasing power every day of the week.

You mean you don't know why people aren't that eager to lose all their money in a crash?
I'm pretty sure the guys in 1930 would have loved to invest and trade again after the great depression.
Actually, a lot of people did continue to invest and trade afterwards, because after it it would have been a good time to buy.
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July 02, 2017, 05:33:48 PM
 #2572

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Monetary system never fails but in a current era it is become a weak and it is getting weakling maybe it will be fail in a future so yes it is never fail if the issue is maintain like this then soon it would be failed. That’s why people are changing to best side which is known as crypto currencies specially changing to bitcoin.
i just don't understand how bitcoin could changes the current monetary system what you have called failed? how exactly current banking system could replaced by the bitcoin peer to peer electronic cash system? it is required a lot of time, people not ready yet.

i think banks/current monetary system should be remain exist .

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July 05, 2017, 07:12:13 AM
 #2573

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.


I agree with your comments. But in my opinion, there are currently only a few places accepting Bitcoin payments. Bitcoin is always a potential investment in the future but we can not deny the popularity of cash. In addition, the security of using Bitcoin is very high, we can protect our money from being robbed or stolen on the road. When it comes to big deals, transnational transactions, bitcoin always take advantage, we have complete control over all transactions, no tax department, no customs, no bank or any organization. Do intervene That was amazing.
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July 05, 2017, 07:22:46 AM
 #2574

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.


I agree with your comments. But in my opinion, there are currently only a few places accepting Bitcoin payments. Bitcoin is always a potential investment in the future but we can not deny the popularity of cash. In addition, the security of using Bitcoin is very high, we can protect our money from being robbed or stolen on the road. When it comes to big deals, transnational transactions, bitcoin always take advantage, we have complete control over all transactions, no tax department, no customs, no bank or any organization. Do intervene That was amazing.
I can't still consider Bitcoin as a universal curremcy as of the moment. Yes it is accepted as a currency but is only prominent in online shops but not is local businesses. As a global currency you must be accepted in anywhere you go or even be considered as a payment option in that place like Visa and Mastercard Credit Cards. So if we don't see any improvement on Bitcoin being accepted more we can't consider Bitcoin as a glbal currency.
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July 05, 2017, 07:24:57 AM
 #2575

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Monetary system never goes fail. But there may be some issue or it goes down. While people are investing in bitcoin and altcoins so now a days crypto currencies are willing by banks. Banks want that government allow the crypto currencies in banks. So there monetary system will be also better and crypto will be also in a benefits.
I think the government will not approve the request of the bank. Because cryptocurrency is digital, decentralized and anonymous. There may be many bank misuses that would harm a country. So I do not think the government will do that.
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July 05, 2017, 08:15:40 AM
 #2576

The current monetary system failed there is no distribution according to the current era out there and that is due to the greed of banks and other companies so crypto changes that.
Monetary system never goes fail. But there may be some issue or it goes down. While people are investing in bitcoin and altcoins so now a days crypto currencies are willing by banks. Banks want that government allow the crypto currencies in banks. So there monetary system will be also better and crypto will be also in a benefits.
I think the government will not approve the request of the bank. Because cryptocurrency is digital, decentralized and anonymous. There may be many bank misuses that would harm a country. So I do not think the government will do that.
When Countries are legalizing the bitcoin usage what's more than that required for banks to get approved for the usage of bitcoin. Already there are financial services functional on the bitcoin platform. So I don't find any complications with government disapproving the bitcoin usage.

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July 05, 2017, 09:18:43 AM
 #2577

I like bitcoin because the price is high and it is not difficult to pick it up or keep it, but until then still I still need cash to shop .. Smiley
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July 05, 2017, 09:49:46 AM
 #2578

I like bitcoin because the price is high and it is not difficult to pick it up or keep it, but until then still I still need cash to shop .. Smiley
Bitcoin is easier to make as a very promising investment so without cash we can save our money into the form of digital currency whose price can change every minute. If you look at the price in the previous year bitcoin prices are so low that only a few people can use bitcoin, but at this time bitcoin prices are on the rise even though in the previous week bitcoin prices higher than now.
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July 05, 2017, 11:10:37 AM
 #2579

I like bitcoin because the price is high and it is not difficult to pick it up or keep it, but until then still I still need cash to shop .. Smiley
Bitcoin is easier to make as a very promising investment so without cash we can save our money into the form of digital currency whose price can change every minute. If you look at the price in the previous year bitcoin prices are so low that only a few people can use bitcoin, but at this time bitcoin prices are on the rise even though in the previous week bitcoin prices higher than now.
That is why investing in bitcoin is a really good investment for people who want to have a good retirement fund in the future because the price of bitcoin is moving up every year and its percentage gains are not expected and very surprising. If you will buy bitcoin now and if you will keep it for long term then you will have a chance to grow it up to 1000% from your capital.
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July 05, 2017, 11:21:13 AM
 #2580

Bitcoin is good to use as an investment for making money, and at this time to spend cash for necessary daily needs. Such an opportunity to ensure a good future in a few years.

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