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escrowboy
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July 06, 2016, 04:22:19 PM |
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I saw a news today that a bank will charge interest on customer deposit. For bitcoin, you can save it yourself, and will not get negative interest.
That's how inflation works and that's mostly likely the reason for our economy to be destroy. Our banks is just a big type of a ponzi scheme where they like to give big interest to attract people to deposit on them but there's no assurance of really giving you the profit you make anually thus making a big inflation in the market. |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Zooplus
Legendary
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Activity: 1106
Merit: 1000
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July 07, 2016, 07:47:14 AM |
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I saw a news today that a bank will charge interest on customer deposit. For bitcoin, you can save it yourself, and will not get negative interest.
That's how inflation works and that's mostly likely the reason for our economy to be destroy. Our banks is just a big type of a ponzi scheme where they like to give big interest to attract people to deposit on them but there's no assurance of really giving you the profit you make anually thus making a big inflation in the market. So this time we should just invest with bitcoins and not in banks anymore, in due time it will happen to all the country and it will be costly just to save your money. |
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rphk
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July 07, 2016, 08:04:28 AM |
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No one can steal this digital currency , and rate varies ,when price goes low buy it ,hold for long time and then sell it when bitcoin price goes high, very easy to transaction,conversion to fiat money also easier.
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martinacar
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July 07, 2016, 08:06:18 AM |
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Some people might choose Bitcoin over cash because it allows you to make more money with them and you cannot really do that with cash, it is possible with gambling but that is not the best thing to do.
I think that I would still go with cash because it is easier to use and more accepted and just overall allot better.
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Ziskinberg
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July 07, 2016, 01:37:13 PM |
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Some people might choose Bitcoin over cash because it allows you to make more money with them and you cannot really do that with cash, it is possible with gambling but that is not the best thing to do.
I think that I would still go with cash because it is easier to use and more accepted and just overall allot better.
I prefer to choose both, cash and bitcoins are both important as when you have bitcoins you can easily spend it when you encash it. But, if I am force to choose only one then I would just choose bitcoin because that is the reason why I am here. |
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expert4knowledge
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July 07, 2016, 01:45:16 PM |
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I still have cash instead of Bitcoin because then I would not have to go to the process of selling them, with cash you can do more things and can buy more things.
Unless the Bitcoin becomes usable at more places I am going to go with cash.
Cash is neither investment nor is capable of growth and if we consider inflation its value decrease so it is good for only spending and not investment. |
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AlphaSun
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July 07, 2016, 06:32:58 PM |
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I still have cash instead of Bitcoin because then I would not have to go to the process of selling them, with cash you can do more things and can buy more things.
Unless the Bitcoin becomes usable at more places I am going to go with cash.
Cash is neither investment nor is capable of growth and if we consider inflation its value decrease so it is good for only spending and not investment. The fiat cash devalues year after year. There are many examples of that. The bitcoin has limited supply, it will rise in long term. |
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Crazygreek
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July 07, 2016, 10:48:49 PM |
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I think that cash is much better anyway, it's simple for use and also not so risky to use as bitcoins, i think that bitcoin is losing to cash in many cases.
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hermanhs09
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July 08, 2016, 01:19:20 AM |
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I think that cash is much better anyway, it's simple for use and also not so risky to use as bitcoins, i think that bitcoin is losing to cash in many cases.
You mean having bitcoin is risky? Why,because it is new or because it is easy to stole it? Actually it is not easy,bitcoins are very secure if you know what you are doing,anyway you can but a lot of thing's with bitcoin,even in malls. |
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Hatuferu
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https://trueflip.io/
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July 08, 2016, 04:00:43 AM |
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I think that cash is much better anyway, it's simple for use and also not so risky to use as bitcoins, i think that bitcoin is losing to cash in many cases.
You mean having bitcoin is risky? Why,because it is new or because it is easy to stole it? Actually it is not easy,bitcoins are very secure if you know what you are doing,anyway you can but a lot of thing's with bitcoin,even in malls. That is not the point for sure, bitcoin is quite risky overall because it is not accepted and regulated by the government anytime we can see a big crash, but the benefits is we are making money now regardless of you method and that is more important. |
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Zooplus
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July 08, 2016, 04:54:13 AM |
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I think that cash is much better anyway, it's simple for use and also not so risky to use as bitcoins, i think that bitcoin is losing to cash in many cases.
You mean having bitcoin is risky? Why,because it is new or because it is easy to stole it? Actually it is not easy,bitcoins are very secure if you know what you are doing,anyway you can but a lot of thing's with bitcoin,even in malls. That is not the point for sure, bitcoin is quite risky overall because it is not accepted and regulated by the government anytime we can see a big crash, but the benefits is we are making money now regardless of you method and that is more important. It is the reason why people got benefited with bitcoins because even if it is risky they were able to take the risk and put their investment. If you are remember, there a lot of early adopters in the past that are already rich now and that is because they take the risk. |
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zimmah
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July 08, 2016, 05:39:11 AM |
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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.
Or (a bit less likely in the case of America) a country could get bankrupt and get major currency problems, rendering the currency worthless practically overnight. Of course it's debatable whether the dollar or Bitcoin is more stable, but my bet is on Bitcoin. Bitcoin is also much more "carry able" it doesn't weigh anything, you can carry any amount with you, from fractions of a cent to many millions, and no one will know. You can't even leave the country with $10000 in cash but with Bitcoin it's no problem. |
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zimmah
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July 08, 2016, 05:42:22 AM |
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I can use my mastercard in a lot of contries without even knowing what currency they have.
And without knowing what ridiculous fees and conversion rates they will charge you. But rest assured, they will be ridiculous. The whole credit card system is hopelessly old fashioned, and you're paying for that. Whether you know it or not. This is the main problem in the world, people are too ignorant. They simply don't care about things of importance, while paying way too much respect to trivial things. |
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goinmerry
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July 08, 2016, 10:48:29 AM |
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I think that cash is much better anyway, it's simple for use and also not so risky to use as bitcoins, i think that bitcoin is losing to cash in many cases.
You mean having bitcoin is risky? Why,because it is new or because it is easy to stole it? Actually it is not easy,bitcoins are very secure if you know what you are doing,anyway you can but a lot of thing's with bitcoin,even in malls. In a few countries yes. And you are right bitcoin is more secured than having cash in your wallet. Just think of a robbery situation. When someone snatched your wallet your bitcoin will not be with it. |
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hermanhs09
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July 08, 2016, 10:56:11 AM |
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I have found some people who claims that they have put some btc onto offline wallet,an they want to store it for about 10 years,i have a friend who did that actually.I dont like long term investments,but true,it might get them really big profit after some time,if btc wont die. I think that cash is much better anyway, it's simple for use and also not so risky to use as bitcoins, i think that bitcoin is losing to cash in many cases.
You mean having bitcoin is risky? Why,because it is new or because it is easy to stole it? Actually it is not easy,bitcoins are very secure if you know what you are doing,anyway you can but a lot of thing's with bitcoin,even in malls. In a few countries yes. And you are right bitcoin is more secured than having cash in your wallet. Just think of a robbery situation. When someone snatched your wallet your bitcoin will not be with it. Yeah but i know some dumb people who have their bitcoin ID ( for logging in ) and password to it written on a paper and they hold it with them every where they go hahaha. I love the idea of using btc because i dont have to leave bank's any cash,I just dont let them earn. |
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bitcoinisfurture
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July 08, 2016, 10:57:00 AM |
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The main reason is that bitcoin is fast like if you want to send money to your family you wont have to go to a bank and wait 3-5 days .
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AlphaSun
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July 09, 2016, 12:14:07 PM |
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The main reason is that bitcoin is fast like if you want to send money to your family you wont have to go to a bank and wait 3-5 days .
That is one big benefit of the bitcoin. The only problem is that bitcoin cannot be used as a currency in most countries. |
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hermanhs09
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July 09, 2016, 12:49:51 PM |
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The main reason is that bitcoin is fast like if you want to send money to your family you wont have to go to a bank and wait 3-5 days .
That is one big benefit of the bitcoin. The only problem is that bitcoin cannot be used as a currency in most countries. Actually in many countries there are some stores where u can pay with bitcoin. But converting btc into fiat isnt hard task,so it is not a problem for me lol. |
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bamboylee
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July 09, 2016, 01:13:44 PM |
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Well for me its better to have bitcoin instead of cash because it's value goes up and down. So I sell my bitcoin when price is high then buy when the price is low so that my bitcoin get multiplied.  Yeah, that is an opportunity to be rich when the price gets really high. Fiat cannot do that because you need a lot of money to be able to trade in fiat. But in bitcoin, you only need a few and you can start trading immediately. And no need for identification before you can trade, just register on a trading platform and your good to go. |
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Pursuer
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Where is my ring of blades...
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July 09, 2016, 01:18:20 PM |
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I believe in this day and age, especially since we are growing so fast in technology and internet is being accessible everywhere in the world, people should have at least a small amount of bitcoin; preferably 1BTC just to stay involved with bitcoin and don't miss out on anything in the future.
I mean you can even invest a hundred dollars or so in bitcoin and hold it for the future and you won't lose anything even if price goes down because of small investment.
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