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Author Topic: Why have Bitcoin instead of cash?  (Read 245136 times)
dsaijz03
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November 12, 2017, 01:21:25 PM
 #3101

That is a clever points to ponder. More secure than cash, bitcoin can be like ATM/debit cards in a sense that it has security password, you can bring big amounts anywhere in the world without any questions and it cannot steal immediately.

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November 12, 2017, 01:56:20 PM
 #3102

Because it rises in value daily and cannot counterfeit unlike fiat currency.. Smiley

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November 12, 2017, 02:43:25 PM
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I prefer both.having bitcoin and cash.because incase of emergency and the power lost.i have a second option and that is cash.coz we cant use bitcoin without power or electricity or internet.practical thinking for safety living

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November 12, 2017, 08:27:56 PM
 #3104

At this point in time there aren’t many reasons to convince someone to use bitcoin instead of cash. Cash is accepted by virtually everyone, it can be transported short distances physically with almost no hassle, and it’s an easily graspable concept. Now I said there aren’t many reasons, but there are a few big reasons. The first is that bitcoin is decentralized.
There is no reason to make the government use Bitcoin instead of Cash. They can not manage Bitcoin, so they will lose their benefit when they using Bitcoin for their country. Although the benefit of Bitcoin still can help them have profits, but if you compare to the total loss they will need to spend, I think Bitcoin is really bad for the government.
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November 12, 2017, 08:38:20 PM
 #3105

Because if you have bitcoin you can make morr cash or more money. While if you have a lot of cash they have possible it will decrease because you can buy anything that you want to see . But if you hold your money in bank it is totally safe.

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November 13, 2017, 01:54:59 AM
 #3106

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 decentralized. No one controls it, there is no middle men like banks. Banks usually takes away a small percentage in every transactions plus a certain delay of the process. While bitcoin transaction is fast, easy, secure, and theres no need for verification, not even your identity will be exposed. Btc and Cash has its different advantages and disadvantages. Now, It depends on the weigh of the transaction or how much monetary value is involved on wether what to use. If youre  in the foreign country I prefer to use Bitcoin to avoid currency exchange fees and other risks of lossing some of your fiat.

   

 
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November 13, 2017, 06:26:56 AM
 #3107

because the value of cash can decrease from day to day, but if you invest your cash in bitcoin the price of bitcoin is expecting to increase, therefore it is better to keep your assets in bitcoin instead of cash.

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November 13, 2017, 06:51:55 AM
 #3108

It is a good way to earn income. For I cant use it that fast. I want to money it out in a financial institution initial ahead of I can get it. So laziness is the important. Way too lazy to withdraw it. So much better place my surplus funds in bitcoin expenditure then let it achieve something.
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November 13, 2017, 03:04:56 PM
 #3109

Bitcoin is better than cash because bitcoin value is appreciating over time while with cash you may only earn bank interest which is very low. Cool
First thing is there where you want you can take bitcoin with yourself there will be no fear for steeling or robbery because it’s very easy to carry with yourself so I think it’s one of the good advantage of bitcoin secondly bitcoin price is also high than any other currency so I think people now are taking interest in digital currency as compare to cash.

   

 
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November 13, 2017, 03:07:54 PM
 #3110

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 decentralized. No one controls it, there is no middle men like banks. Banks usually takes away a small percentage in every transactions plus a certain delay of the process. While bitcoin transaction is fast, easy, secure, and theres no need for verification, not even your identity will be exposed. Btc and Cash has its different advantages and disadvantages. Now, It depends on the weigh of the transaction or how much monetary value is involved on wether what to use. If youre  in the foreign country I prefer to use Bitcoin to avoid currency exchange fees and other risks of lossing some of your fiat.
Simple because bitcoin will earn you a lot of money by just waiting a few months. Because the value of btc is unstable it is very risky to buy it but when you make a lot of profit with it you will think it is worth the riskyness. And cash won't make you any money.
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November 13, 2017, 03:12:59 PM
 #3111

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 decentralized. No one controls it, there is no middle men like banks. Banks usually takes away a small percentage in every transactions plus a certain delay of the process. While bitcoin transaction is fast, easy, secure, and theres no need for verification, not even your identity will be exposed. Btc and Cash has its different advantages and disadvantages. Now, It depends on the weigh of the transaction or how much monetary value is involved on wether what to use. If youre  in the foreign country I prefer to use Bitcoin to avoid currency exchange fees and other risks of lossing some of your fiat.
It is because bitcoin will make you more happy than cash will because bitcoin actually makes money for you by just investing some time in bitcoin.
Or just wait for the value to rise because that happens a lot as well.
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November 13, 2017, 03:15:59 PM
 #3112

No one knows for sure, but bitcoin may be the future currency.

- Bitcoin itself as a protocol will evolve. Many people forget the simple fact that it is a protocol first and the money part just happens to be the first app written over it. Think of it like the Netscape browser written for (predominantly) HTTP. It was good at its time, but then other browsers took the mantle and Netscape was dethroned.

- The same analogy could apply to bitcoins (the money). It could be dethroned and for all we know Dogecoin or  Litecoin could prevail.

- The Buying process of Bitcoins will have to be made much more simpler than it is at present. All indications point that the process will get more streamlined, so buying bitcoins will be an easy task.

- In most countries (US included), companies that trade Bitcoins onto the local currency would be regulated. More exchange companies will mushroom.

Acceptance.

- Until and unless Buyers keep pressing / asking Merchant to accept Bitcoins, merchants will be oblivious to the demand. If you walk into a store and ask if they accept Bitcoins and they answer No, this is the expected answer. Repeat this scenario with 10 other Buyers asking the same and the Merchant will think differently. They just might start looking at Bitcoin acceptance.

- Much of the developed world where payment systems that enable instantaneous person-to-person payment are not available, would love to adopt Bitcoin. The barriers are the regulators and the almost near vacuum of local Bitcoin exchanges. Look at India - no exchange in India. Same can be said of Pakistan, Bangladesh, GCC, Indonesia, Philippines, Thailand (though there are a few players in Thailand who are selling Bitcoins), North Africa, etc. There is a very large population that simply does not have access to buying bitcoins. Since they cannot buy it - they cannot trade with it. This will be changing in the coming months/years.

Volatility will minimize.

- I won't say it will disappear, the public at large is too sensitive to everything the media spews out relating to Bitcoins.
- Arbitrage will almost be negligible.
- You will see the movement pickup speed with a few authoritative anchor users accepting Bitcoins. (See  this excellent article by our resident Payments Maestro Brian Roemmele - Starbucks To Accept Bitcoin In 2014. by Brian Roemmele on Accepting Payments).
- As more and more larger corporations start offering Bitcoin as a payment alternative, many companies waiting in the shadows will jump onto the bandwagon. This chain-reaction trigger is very important for Bitcoin to survive. Many are waiting for the trigger.

- Acceptance of Bitcoin as an alt. currency in developing countries would be very important (as opposed to outright banning it). I however, have my reservations on this. The regulators in the developing have a very myopic vision when it comes to alternative currencies. Such obtuse undertaking will kill Bitcoin (in a legal manner) in the developing world.

- The market capitalization indicates in some manner that the currency is now too big to collapse (not that it cannot happen), by a measure of its own self, it will most likely survive.

- Snap Payments with Bitcoins for Websites, Freelancers, etc. would be enabled. This means, very quickly accepting $25 in Bitcoins, which are in turn converted to Euros and available in your pre-paid Debit Card (all by inserting some simple code on your website to accept the payment). Think BitPay or Coinbase on steroids, globally.

- Currency Brokers will be trading and dealing with Bitcoins more regularly.

- Bitcoin exchanges in the West (perhaps US, or UK) will prosper and take over in volume (provided international clients are allowed to hop in and trade).

- Incorporation of Bitcoin payments within Social Media would be the norm. You would definitely see native or plug-in based activity around Bitcoin. Think Twitter, Pinterest, Facebook, LinkedIn, etc.

- Apps not related to money, but related to the open-ledger system of the Bitcoin protocol will start emerging. I'm absolutely lost when it comes to giving such examples, but I am sure, someone out there is thinking of a kick-ass way of using the Bitcoin protocol and building a non-payment app on top of it.

- Currencies based on the Bitcoin protocol or modified protocol, will start seeing a market themselves for specific purposes. It could very well be that Litecoin might dominate the Remittance market, or changing Linden Dollars to Litecoin. Or Mastercoin is used on boards like Warrior Forum or Digital Point (the Affiliate Marketing Ecosystem) or Peercoin is what is most accepted and traded in South Asia or South America. Such patterns and/or segmentation may very well emerge.
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November 13, 2017, 03:30:13 PM
 #3113

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 observations. Although may I add that its feature that anchors on anonymity is one thing peculiar yet enticing to investors like myself. Why? It is because governments cannot tax on all your earnings through Bitcoin. They can hardly catch transactions that happen online, much more with cryptocurrencies. Thus, as an entrepreneur, I am assured all my earnings are all for me. Anyway there is nothing bad about it per se. How can governments tax you on something they did not even help you with? Do they help you secure your Bitcoin? Do they swear by you that should you fall by reason of fraudulent transactions, they will back you up? NO, right? So how can they tax you on something that only benefits them? In Bitcoin, you protect you; you invest at your own risk. I think it is only fair for you to get all your money's worth without governments taxing anything from you out of it.

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November 13, 2017, 03:36:43 PM
 #3114

Yes I agree with you, it has the potenial to go up or increase its value while the cash is as is what is, so if you invest in bitcoin possibly your money is mostly likely in time deposit in the bank that grow more as time pass, it is a good investment and to keep.

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November 13, 2017, 04:02:21 PM
 #3115

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 you, it is better to have Bitcoin than cash because of some reason. Like what you've said, for security. You are secure or your money is secure if it is bitcoin why? in cash you are triggered to buy something you want because the money or your money is in your hand while bitcoin is not. Next is, bitcoin's value  might grow higher while cash is stable. So having bitcoin is good rather than cash. But I didn't say that we shouldn't value cash. Of course the bitcoin will convert it in cash so that's it.

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November 13, 2017, 04:27:53 PM
 #3116

I likes to hoard bitcoin than cash because BTC is very potential to invest, profit grows daily. The longer the cash, the longer the price slip. So holding BTC instead of cash is perfectly smart for people  Grin
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November 14, 2017, 07:04:32 AM
 #3117

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.
By bitcoins your money is secured,safe from harm while paying on transactions without bringing cash with you,its value increases everyday,if it loss its value it can regain sooner,through investment in bitcoin pretty sure to gain more profit.
A cashless society with no hassle when buying  product or gadgets  even in the internet.There were many merchants thats beggining to accept bitcoins. Bitcoins popularity continues to spread that affect the fluctiation of its value while cash remains.

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November 14, 2017, 08:10:29 AM
 #3118

From many differences that they have, probably the main few could be that bitcoin is digital and decentralized, less volatile than cash and maybe no real way of keeping a track of conventional currency.

Why some of this, cash is controlled by banks while bitcoin has owners. Bitcoin has a global acceptance and is less volatile than cash, cuz of this feature, it becomes easier to conduct transactions across boundaries and online (same fee for no matter how big or small transfer is made in bitcoin). Bitcoin have public record of every single Bitcoin transaction that has ever occurred and for cash there is no real way of tracking.



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November 14, 2017, 08:14:44 AM
 #3119

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.
There are many reasons why we should use bitcoins. We can protect our identity if we use bitcoin, we can also secure and control our money and we can easily use bitcoin to easily pay our expenses by the uses of our mobile phones.

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November 14, 2017, 02:32:16 PM
 #3120

Some individuals like to have Bitcoin instead of income since with Bitcoin the price can always go up which can lead to more money for the holder. But there is also a possibility that the cost is going to go down so often preserve examine of the value when you are holding.
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