Why have Bitcoin instead of cash?

[Amph]

It can't be physically stolen I guess, maybe that's a good thing. So less thieves in the world. But hackers don't count.

that's a moot point, if you hold some btc in your phone wallet, and a thief steals it, then you lost the double, the phone and your coin, especially if they weren't passprotected

the same for other HW wallet, that can be compromised if they found new exploit or security hole

[notlist3d]

It can't be physically stolen I guess, maybe that's a good thing. So less thieves in the world. But hackers don't count.

that's a moot point, if you hold some btc in your phone wallet, and a thief steals it, then you lost the double, the phone and your coin, especially if they weren't passprotected

the same for other HW wallet, that can be compromised if they found new exploit or security hole

I think a security exploit is the bad thing about keeping it on phone.    If you root/jailbreak your phone especially.

It could be overkill but I have a PC on teamviewer.  I keep a little hot wallet on it, so if i need a little cash I log into PC via teamviewer and can send it.  The BTC never touched the phone.  And it's not a waste as PC is on for viewing miners if I'm away.

Cash can be pick pocketed.    You can lose credit cards and other things that are a pain with it.

Each have pro's and con's.

[AtheistAKASaneBrain]

It can't be physically stolen I guess, maybe that's a good thing. So less thieves in the world. But hackers don't count.

It cant be physically stolen you say?

What about when you transfer to a cold storage like a paper wallet? And they have the paper wallets pin and all the stuff lol.

Thats physical last time i checked.

Paper wallets can be encrypted since BIP38 was released. So they would need to know the passphrase for your paperwallet to do anything with it. You can also add multi signature for multiple paperwallets needed.

[lorylore]

It can't be physically stolen I guess, maybe that's a good thing. So less thieves in the world. But hackers don't count.

It cant be physically stolen you say?

What about when you transfer to a cold storage like a paper wallet? And they have the paper wallets pin and all the stuff lol.

Thats physical last time i checked.

Yes that is an option for paper wallets, must be very carefully where do we store them, multi sig would increase the security

[stromma44]

It can't be physically stolen I guess, maybe that's a good thing. So less thieves in the world. But hackers don't count.

That is true that it cannot be physically stolen but that are hackers and scammers who are keeping eye on our hard earned coins and one advantage of holding bitcoins is you will spend less as compared to that of cash as it will be always in your mind that bitcoins are for investment purpose and not just for spending so you would think twice before spending.

[lorylore]

It can't be physically stolen I guess, maybe that's a good thing. So less thieves in the world. But hackers don't count.

That is true that it cannot be physically stolen but that are hackers and scammers who are keeping eye on our hard earned coins and one advantage of holding bitcoins is you will spend less as compared to that of cash as it will be always in your mind that bitcoins are for investment purpose and not just for spending so you would think twice before spending.

The only way to be  physically stolen i think when google wallet will implement bitcoin, so by smartphone NFC on that way bitcoin can be stolen

[Josef27]

that's a moot point, if you hold some btc in your phone wallet, and a thief steals it, then you lost the double, the phone and your coin, especially if they weren't passprotected

That's why we should have (encrypted) backups, so you still have chances to rescue the coins and move them. Work besides getting stolen also.

[KimNam]

my reason using bitcoin instead cash maybe because i don't trust my central banking
they always printed fiat paper every time, making inflation rate worse
But in other hand, keeping bitcoin on longer period times make me nervous, because bitcoin price keeps failing month after month
If bitcoin price more stable, i'm sure many people will use bitcoin as currency.
i saw many people just use bitcoin as commodity like gold

[wearepoor]

my reason using bitcoin instead cash maybe because i don't trust my central banking
they always printed fiat paper every time, making inflation rate worse
But in other hand, keeping bitcoin on longer period times make me nervous, because bitcoin price keeps failing month after month
If bitcoin price more stable, i'm sure many people will use bitcoin as currency.
i saw many people just use bitcoin as commodity like gold

That is true. But I think when you have to pay using bitcoins you will think twice before spending as only thing comes to mind is we need to keep our bitcoins safe as we view it as a investment product but not only as a currency.

[Mr.jatt]

Because we can send it instantly to the other part of the globe in a few seconds or minutes which you can't do with cash.

[Possum577]

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

Very good point! This basically allows you to bring more than 10k in "cash" around the glob in your pocket without customs having a chance to find out.. Can potentially be problematic though, helping illegal transactions.

This may be the best reason of all. Money just became REALLY REALLY easy to transport, with minimal evidence. It's the stealth wealth move of the future, wait...the future is now!

[aakashsangwan]

Just send bitcoin anywhere in the world in a matter of seconds without the need of bank account and even anonymously.

[ridery99]

Some centralized blockchain bank coin with fast transaction times will replace fiat in the future 

[dollarneed]

i think if i iam traveling to somewhere i can easily take all of money worth bitcoin with you easily without any problem
so i can relax without risk to get ripped or loose my money
but if i use cash i can't do that

[mrhelpful]

I say it only sucks if the person was lazy for their own security like the whole stealing phone concept.

And they have the blockchain app connected all the time.

[techgeek]

Multiple benefits like most mentioned, but most of all you have little to no down time.

Example, if you are doing big transactions like a wire you have to wait for a few day almost like 4 days when you can cash out bitcoin to a local seller the same or the next day.

[HeroCat]

BTC you can put in your own wallet and fast transaction times, so you can buy something very fast.

[titibach]

It is same concept like why using debit card and not using cash.. It absolutel will get more safety if we didnt get alot cash money when walking around the street.
And with btc you can do more transaction in a minute than transaction with cash...

[Falconer]

It is same concept like why using debit card and not using cash.. It absolutel will get more safety if we didnt get alot cash money when walking around the street.
And with btc you can do more transaction in a minute than transaction with cash...

Debit card is be legalized by government everywhere, but not to bitcoin. Some countries ban it, so rarely there are shops that accept bitcoin in payment like my country.

[randy8777]

no doubt it is far superior than any other currently existing fiat currency, but only a small amount of people realize that. but it takes time i guess to see more people using bitcoin.