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Author Topic: Why have Bitcoin instead of cash?  (Read 245522 times)
Amph
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January 18, 2016, 07:52:11 AM
 #201

I have bitcoin because of sig campaigns then i turn it into fiat. rinse and repeat cycle

you should never return bitcoin to fiat, only the opposite, unless you disperately need something that cna only be bought with fiat

by dumping you're losing the value on the other coins you're are holding

Even when i am holding, its still losing value.

Besides it has done good for me. I was collecting bitcoins during when bitcoin was worth $600. I keep on selling and i am glad with it. just check the price now its around $350+ lol.

So, don't teach me about holding buddy.

it's not losing value on the long term, which is the point of bitcoin and for your hold, you don't hold for short term and casual dump like the one that happened, so this argument is moot as hell

bitcoin is relatively safe long term, and that the reason for you to hold and forget about those fake dump that may occur
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Imran.shamsi
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January 18, 2016, 06:01:44 PM
 #202

Another point you should have is how you have total control over your funds. With cash, banks can close their doors, and you will be locked out of your account.

More security (especially if you are careful).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.

Fast, worldwide transactions at your fingertips.  but BTC(virtual currency) doesn't work anywhere in work. it just work in develop countries

kevin go
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January 19, 2016, 02:06:58 AM
 #203

Bitcoin is a digital money hard to stole must know password to stole...if cash whenever my wallet lost all my money gone
Now a days people i think not going to hold many cash in wallet...they put in a card and so transaction in there...more safe and simply...
HarHarHar9965
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January 19, 2016, 04:31:03 AM
 #204

Nice. I bet this has no tax since all you needed was some internet and couple of transactions.


If Government passes they include the tax as well in the Bitcoin transactions. But If you ask me I will say bitcoin better transparency than fiat cash, No need to fear about theif to take outside.

There is no transaction limit like fiat limit banks and many more.
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January 19, 2016, 09:08:59 AM
 #205

Bitcoin is a digital money hard to stole must know password to stole...if cash whenever my wallet lost all my money gone
Now a days people i think not going to hold many cash in wallet...they put in a card and so transaction in there...more safe and simply...

Well, i consider bitcoin less safe for most users. Let's say they have 2000$ in their wallet. Then if the wallet get hacked with a keylogger then he loses everything. The same goes when there are no backups and the computer gets stolen, visitors get access to the wallet, the owner dies and the remains are gone and so on.

All problems that don't arise when you have the money on your bank account.

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January 19, 2016, 09:12:42 AM
 #206

I find the question "Why use bitcoin instead of cash?" still a hard question. When someone asks me "Why do i need that?" then what would you answer? Having control over your own money? It's safe on the bank too. Sending it over internet? I have paypal. Sending to other countries without restrictions? Don't need to.

For most normal people the normal payment systems work just fine. I feel it's still hard to explain the average joe why he should need bitcoin. At the end bitcoin has some risks about losing it. And that level of having to care yourself for your safety is something many people prefer not to have too.

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relq
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January 19, 2016, 09:21:56 AM
 #207

I have bitcoin because of sig campaigns then i turn it into fiat. rinse and repeat cycle

you should never return bitcoin to fiat, only the opposite, unless you disperately need something that cna only be bought with fiat

by dumping you're losing the value on the other coins you're are holding

Why not ? I'm do like him, when i receive my payment from signature campaign i always turn it into fiat too. because i prefer have cash instead of bitcoin.
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January 19, 2016, 10:12:12 AM
 #208

I have bitcoin because of sig campaigns then i turn it into fiat. rinse and repeat cycle

you should never return bitcoin to fiat, only the opposite, unless you disperately need something that cna only be bought with fiat

by dumping you're losing the value on the other coins you're are holding

Why not ? I'm do like him, when i receive my payment from signature campaign i always turn it into fiat too. because i prefer have cash instead of bitcoin.

I turn my bitcoins into nubits relatively fast too, at least when the price of bitcoin is not rising at the moment. It is still safer having a fixed value of usd (Nubits are worth 1 usd all the time) than risking to lose your income through bitcoin price dropping. Which happened lately.

I prefer nubits instead of letting fiat lying on exchanges since exchanges are a risk. My own nubit wallet isn't so much a risk.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
joinal
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January 19, 2016, 10:22:59 AM
 #209

Bitcoin is a digital money hard to stole must know password to stole...if cash whenever my wallet lost all my money gone
Now a days people i think not going to hold many cash in wallet...they put in a card and so transaction in there...more safe and simply...
yeah we all know it, the question is why bitcoin instead of cash?
I caught something in your statement, perhaps because of the progress of time, everyone is looking for a more secure wallet, by debit card or bank
or maybe bitcoin

Amph
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January 19, 2016, 11:37:56 AM
 #210

I have bitcoin because of sig campaigns then i turn it into fiat. rinse and repeat cycle

you should never return bitcoin to fiat, only the opposite, unless you disperately need something that cna only be bought with fiat

by dumping you're losing the value on the other coins you're are holding

Why not ? I'm do like him, when i receive my payment from signature campaign i always turn it into fiat too. because i prefer have cash instead of bitcoin.

well you are only contributing to devaluating your coins then, those that you're holding for the future, dumping is bad for bitcoin it instigate a panic sell

why you're dumping for fiat instead of use bitcoin directly to buy stuff online at least?
SebastianJu
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January 19, 2016, 02:09:24 PM
 #211

why you're dumping for fiat instead of use bitcoin directly to buy stuff online at least?

Though it would mean the same for most shops that accept bitcoins and use payment providers. The coins are dumped instantly so that the merchant can receive fiat.

And unfortunately it is pretty risky holding bitcoins. They are an investment. If you don't need them then ok, but if you hold your life money in it then it is risky since you can't earn one month 1000$ in bitcoin and shortly after your earnings are only 850$ now anymore. You need to secure it.

It's with all investments the same and because of the volatility of bitcoin it matches there too. Don't hold too long on investments, even more when they drop constantly. Nothing good will come from being stubborn or from believing in a wonder.

If you don't need the value the bitcoins present then ok, you would not need to secure it and hope for better prices.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
Amph
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January 19, 2016, 02:34:07 PM
 #212

why you're dumping for fiat instead of use bitcoin directly to buy stuff online at least?

Though it would mean the same for most shops that accept bitcoins and use payment providers. The coins are dumped instantly so that the merchant can receive fiat.

And unfortunately it is pretty risky holding bitcoins. They are an investment. If you don't need them then ok, but if you hold your life money in it then it is risky since you can't earn one month 1000$ in bitcoin and shortly after your earnings are only 850$ now anymore. You need to secure it.

It's with all investments the same and because of the volatility of bitcoin it matches there too. Don't hold too long on investments, even more when they drop constantly. Nothing good will come from being stubborn or from believing in a wonder.

If you don't need the value the bitcoins present then ok, you would not need to secure it and hope for better prices.

ah well this is another problem, yeah, merchants should not dump also, and use directly their coins to cover their expenditure for example(utility bills other cost related to run their service)

the final point should be to create a endless cycle where bitcoin is not dumped ever, pretty much like fiat, i understand that this is maybe not possible right now, but people should do everything at their disposal to achieve this as much as possible
adicted
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January 19, 2016, 03:02:54 PM
 #213

First of all bitcoin is decentralized and its freedom. Bitcoin is also a digital currency which is electronically stored and its perfect for me as a quite techie person. It is also convenient to use that I can even send money with my mobile. Also sending it worldwide quickly and with less fees is just exceptional. Bitcoin is love.
ryceles
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January 19, 2016, 04:41:25 PM
 #214

because it is very simple to use bitcoin transaction. whereas I often conduct transactions online , compared to offline transactions .
SebastianJu
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January 19, 2016, 05:26:39 PM
 #215

why you're dumping for fiat instead of use bitcoin directly to buy stuff online at least?

Though it would mean the same for most shops that accept bitcoins and use payment providers. The coins are dumped instantly so that the merchant can receive fiat.

And unfortunately it is pretty risky holding bitcoins. They are an investment. If you don't need them then ok, but if you hold your life money in it then it is risky since you can't earn one month 1000$ in bitcoin and shortly after your earnings are only 850$ now anymore. You need to secure it.

It's with all investments the same and because of the volatility of bitcoin it matches there too. Don't hold too long on investments, even more when they drop constantly. Nothing good will come from being stubborn or from believing in a wonder.

If you don't need the value the bitcoins present then ok, you would not need to secure it and hope for better prices.

ah well this is another problem, yeah, merchants should not dump also, and use directly their coins to cover their expenditure for example(utility bills other cost related to run their service)

the final point should be to create a endless cycle where bitcoin is not dumped ever, pretty much like fiat, i understand that this is maybe not possible right now, but people should do everything at their disposal to achieve this as much as possible

I did so too at one time and i lost ALOT with that mindset. It simply isn't healthy to watch the bitcoin price going down and down and down while you lose alot of money on the way.

I see where you come from but this is some kind of luxury view on the topic. If someone can afford it then it's no problem but even when you are rich and have 1Million USD in bitcoin, watching how it goes down over months more and more and doing nothing until it is worth a fraction of what it was is not a good decision. So in any case, it is something one can wish for for the future of bitcoin but as a business decision it can be very very bad.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
Amph
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January 19, 2016, 05:58:38 PM
 #216

why you're dumping for fiat instead of use bitcoin directly to buy stuff online at least?

Though it would mean the same for most shops that accept bitcoins and use payment providers. The coins are dumped instantly so that the merchant can receive fiat.

And unfortunately it is pretty risky holding bitcoins. They are an investment. If you don't need them then ok, but if you hold your life money in it then it is risky since you can't earn one month 1000$ in bitcoin and shortly after your earnings are only 850$ now anymore. You need to secure it.

It's with all investments the same and because of the volatility of bitcoin it matches there too. Don't hold too long on investments, even more when they drop constantly. Nothing good will come from being stubborn or from believing in a wonder.

If you don't need the value the bitcoins present then ok, you would not need to secure it and hope for better prices.

ah well this is another problem, yeah, merchants should not dump also, and use directly their coins to cover their expenditure for example(utility bills other cost related to run their service)

the final point should be to create a endless cycle where bitcoin is not dumped ever, pretty much like fiat, i understand that this is maybe not possible right now, but people should do everything at their disposal to achieve this as much as possible

I did so too at one time and i lost ALOT with that mindset. It simply isn't healthy to watch the bitcoin price going down and down and down while you lose alot of money on the way.

I see where you come from but this is some kind of luxury view on the topic. If someone can afford it then it's no problem but even when you are rich and have 1Million USD in bitcoin, watching how it goes down over months more and more and doing nothing until it is worth a fraction of what it was is not a good decision. So in any case, it is something one can wish for for the future of bitcoin but as a business decision it can be very very bad.

this because not everyone is doing it, but think about it for a moment, if every bitcoin holder had done it since the beginning, no more dump could ever occur again, and the value can go in only one way, up
HarHarHar9965
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January 19, 2016, 06:39:04 PM
 #217

because it is very simple to use bitcoin transaction. whereas I often conduct transactions online , compared to offline transactions .

Don't only look into the transaction processes, because banking also have all the online transactions which are more user friendly than bitcoin. It can be considered in other manner that bitcoin is a evolving currency which has the same value as a normal currency has.
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January 19, 2016, 09:20:28 PM
 #218

why you're dumping for fiat instead of use bitcoin directly to buy stuff online at least?

Though it would mean the same for most shops that accept bitcoins and use payment providers. The coins are dumped instantly so that the merchant can receive fiat.

And unfortunately it is pretty risky holding bitcoins. They are an investment. If you don't need them then ok, but if you hold your life money in it then it is risky since you can't earn one month 1000$ in bitcoin and shortly after your earnings are only 850$ now anymore. You need to secure it.

It's with all investments the same and because of the volatility of bitcoin it matches there too. Don't hold too long on investments, even more when they drop constantly. Nothing good will come from being stubborn or from believing in a wonder.

If you don't need the value the bitcoins present then ok, you would not need to secure it and hope for better prices.

ah well this is another problem, yeah, merchants should not dump also, and use directly their coins to cover their expenditure for example(utility bills other cost related to run their service)

the final point should be to create a endless cycle where bitcoin is not dumped ever, pretty much like fiat, i understand that this is maybe not possible right now, but people should do everything at their disposal to achieve this as much as possible

I did so too at one time and i lost ALOT with that mindset. It simply isn't healthy to watch the bitcoin price going down and down and down while you lose alot of money on the way.

I see where you come from but this is some kind of luxury view on the topic. If someone can afford it then it's no problem but even when you are rich and have 1Million USD in bitcoin, watching how it goes down over months more and more and doing nothing until it is worth a fraction of what it was is not a good decision. So in any case, it is something one can wish for for the future of bitcoin but as a business decision it can be very very bad.

this because not everyone is doing it, but think about it for a moment, if every bitcoin holder had done it since the beginning, no more dump could ever occur again, and the value can go in only one way, up

It is a theory without good ending for those believing in it. Since there will always be the ones that "take profit". And bitcoin price can't grow without end. Since funding is limited. Which means at some point it will stagnate and finally drop. Traders will sell first, then the sheeps follow. And believers would be named bagholders.

Sorry but it looks like the one who earn at the end are trading their bitcoins. And i think that is because of a lesson they learned. :|

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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January 20, 2016, 01:40:05 AM
 #219

yeah bcause bitcoin is also a investment, worldwide transaction and also got no tax
but in my place i would choose to hold a cash to buy a things they dont accepted bitcoin..
if one day bitcoin atm available i think i wouldnt use cash anymore...
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January 20, 2016, 02:24:08 AM
 #220

I prefer cash,in my  country there is only one citi and onne place where i can buy something to eat burger
I will die with if i will use only btc


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