Why have Bitcoin instead of cash?

[Coinopoly]

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.

If your cash is stolen, it's a costly endeavor to recover it and you would have to rely on authorities to investigate it. However, if you lose your Bitcoin either from theft, seizure or failure of hardware, it's recoverable with a backup.

[Greenenergy]

Why ? Simply because your money isn't devaluating but at the inverse is gaining value of the course of a few years !

[PokemonFun]

i dont have bitcoin instead of cash i have both but i use bitcoin because of anonymously and fast transactions and earn money online oppportunity

[sunsilk]

i dont have bitcoin instead of cash i have both but i use bitcoin because of anonymously and fast transactions and earn money online oppportunity

What? You don't have bitcoin bitcoin instead of cash but you have both? I can't understand what you are saying but in the end.

You are saying that you want bitcoin for its fast transaction and with a lot of source of income that it can give. And I am loving that too.

And I like its unstable price for it is the best investment we can get with bitcoin.

[cjmoles]

Most of the common reasons for using bitcoin instead of cash have been enumerated here....But, what about those type of transactions that cannot be conducted with cash?  I use bitcoin mostly for those type of transactions where it is inefficient to use cash....either because it's too dangerous to carry the quantity of cash required or the transaction is conducted remotely via the web. Bitcoin is especially suited for micro-transactions and playing poker in jurisdictions where the banking industries are forbidden to participate.

[Zooplus]

Most of the common reasons for using bitcoin instead of cash have been enumerated here....But, what about those type of transactions that cannot be conducted with cash?  I use bitcoin mostly for those type of transactions where it is inefficient to use cash....either because it's too dangerous to carry the quantity of cash required or the transaction is conducted remotely via the web. Bitcoin is especially suited for micro-transactions and playing poker in jurisdictions where the banking industries are forbidden to participate.

There's certainly more transactions that we cannot do without cash as this world majority of the people are using paper money or cash, we have to have both if we have to live normal in this world.. There are things that bitcoin are good like gambling and investing or trading.. But most of our expenses that we need to pay for our daily living requires us to use cash.

[ObscureBean]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

[cjmoles]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

Yes...for some people, in some situations, the pseudo-anonymity is important.  But, using bitcoin at, say, a coffee shop instead of using cash seems a bit eccentric....I mean, it's so much easier to hand over a couple dollars instead of carrying around a phone and swiping it for every small transaction I participate in throughout the day.  Isn't it?

[freedomgo]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

Yes...for some people, in some situations, the pseudo-anonymity is important.  But, using bitcoin at, say, a coffee shop instead of using cash seems a bit eccentric....I mean, it's so much easier to hand over a couple dollars instead of carrying around a phone and swiping it for every small transaction I participate in throughout the day.  Isn't it?

Yeah, because there are transaction that it's better to use cash than bitcoin, for our miscellaneous expenses we do not need do transact using bitcoin as paper money or cash can easily take over it, like a simple taxi fair, I guess paper money is more convenient than bitcoins.

It will really take depends on the purpose of transaction.

[avikz]

Please please don't have only bitcoin instead of cash. Then you will be considered as the most stupid person of the world. Bitcoin is not a currency, it is a life changing solution. Using which you can become rich in future or by spending it, you can become the most foolish person of the world. So don't have only bitcoin, have cash instead to meet your day to day expenses.

But always try to save your bitcoins instead of spending it for daily groceries. Otherwise you will regret for sure in future.

[Mastsetad]

Please please don't have only bitcoin instead of cash. Then you will be considered as the most stupid person of the world. Bitcoin is not a currency, it is a life changing solution. Using which you can become rich in future or by spending it, you can become the most foolish person of the world. So don't have only bitcoin, have cash instead to meet your day to day expenses.

But always try to save your bitcoins instead of spending it for daily groceries. Otherwise you will regret for sure in future.

Ofcourse no one would have just bitcoins if they already know that bitcoin is not spendable in their places because in that case they wont be able to buy anything, but having both is the best option, have some cash for your daily expenses and keep the other in bitcoins so that they can grow in value with the time.

[tenk]

No, we should not abolish cash. This seems like a bait and switch. Governments are already trying to abolish cash, mostly cause they and the banks don't know how to do finance. Just keep them away from all of it.

We all feel much safer with technology. Speaking of which, keep them away from that too.

[gabmen]

Please please don't have only bitcoin instead of cash. Then you will be considered as the most stupid person of the world. Bitcoin is not a currency, it is a life changing solution. Using which you can become rich in future or by spending it, you can become the most foolish person of the world. So don't have only bitcoin, have cash instead to meet your day to day expenses.

But always try to save your bitcoins instead of spending it for daily groceries. Otherwise you will regret for sure in future.

Ofcourse no one would have just bitcoins if they already know that bitcoin is not spendable in their places because in that case they wont be able to buy anything, but having both is the best option, have some cash for your daily expenses and keep the other in bitcoins so that they can grow in value with the time.

Yeah i think bitcoin and cash have different purposes as mostly right now, only a few establishments and even online accept direct bitcoin payments. cash is a necessity and you need to have it for your daily purchases. i've been saving my bitcoins right now and just waiting for the right time to sell it, then i also would have to convert it to cash

[lol3c]

Bitcoin is absolutely more secure than any FIAT on this planet. The blockchain system, private key, and wallet help users to keep bitcoin safe without any trouble. And bitcoin also contains many other advantages such as fast transactions,etc. Since bitcoin were created, more and more people are willing to use it. Therefore, I would rather use bitcoin than cash

[Bitcoinsummoner]

Please please don't have only bitcoin instead of cash. Then you will be considered as the most stupid person of the world. Bitcoin is not a currency, it is a life changing solution. Using which you can become rich in future or by spending it, you can become the most foolish person of the world. So don't have only bitcoin, have cash instead to meet your day to day expenses.

But always try to save your bitcoins instead of spending it for daily groceries. Otherwise you will regret for sure in future.

Ofcourse no one would have just bitcoins if they already know that bitcoin is not spendable in their places because in that case they wont be able to buy anything, but having both is the best option, have some cash for your daily expenses and keep the other in bitcoins so that they can grow in value with the time.

Yeah i think bitcoin and cash have different purposes as mostly right now, only a few establishments and even online accept direct bitcoin payments. cash is a necessity and you need to have it for your daily purchases. i've been saving my bitcoins right now and just waiting for the right time to sell it, then i also would have to convert it to cash

For now we are still using bitcoin as source of income or extra income and i think that why we are here we are all believing in bitcoin that the price will increase more so saving more bitcoins is a good idea to become rich someday with bitcoin just like old users of bitcoin but a side from that we need still cash because we need to live daily buying something we need in daily life..  so  salary in job is a good of your financial source and bitcoin is your side job to have some dream for your future..

[cjmoles]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

Yes...for some people, in some situations, the pseudo-anonymity is important.  But, using bitcoin at, say, a coffee shop instead of using cash seems a bit eccentric....I mean, it's so much easier to hand over a couple dollars instead of carrying around a phone and swiping it for every small transaction I participate in throughout the day.  Isn't it?

Yeah, because there are transaction that it's better to use cash than bitcoin, for our miscellaneous expenses we do not need do transact using bitcoin as paper money or cash can easily take over it, like a simple taxi fair, I guess paper money is more convenient than bitcoins.

It will really take depends on the purpose of transaction.

In a majority of everyday use cases, cash is the most convenient and cost effective method of conducting a transaction.  It also leaves the least significant transaction history of all the methods available.  Bitcoin is most useful for very large transactions, transfer remittance, and online purchases....One is not a practical substitute for the other in most situations.

[Financial_Genius]

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.

Big risks
This new virtual currency is not secured by anything but demand. If the demand falls, the price of it is also the stone will go down. There is a danger that the country will not legalize the currency, and it will undermine interest in her and a will not to use it. The lack of security from theft, loss and other risks. Since all of this is not yet officially, that is the risk of being cheated some system of exchange. Also do not forget about the threats from viruses that can steal access to your wallet, etc. And get the money back will be impossible, because in laws at the moment are not provided refunds. Strong fluctuations of bitcoin deters many from acquiring it.

[ObscureBean]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

Yes...for some people, in some situations, the pseudo-anonymity is important.  But, using bitcoin at, say, a coffee shop instead of using cash seems a bit eccentric....I mean, it's so much easier to hand over a couple dollars instead of carrying around a phone and swiping it for every small transaction I participate in throughout the day.  Isn't it?

Oh most definitely, for simple everyday purchases/transactions it's hard to beat cash plus cash is even more anonymous than Bitcoin. But right Bitcoin provides the most anonymity for online transactions because you don't need to have your identity linked to them, it's the best way to stay off the grid. This probably won't be possible for very long though.

[cjmoles]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

Yes...for some people, in some situations, the pseudo-anonymity is important.  But, using bitcoin at, say, a coffee shop instead of using cash seems a bit eccentric....I mean, it's so much easier to hand over a couple dollars instead of carrying around a phone and swiping it for every small transaction I participate in throughout the day.  Isn't it?

Oh most definitely, for simple everyday purchases/transactions it's hard to beat cash plus cash is even more anonymous than Bitcoin. But right Bitcoin provides the most anonymity for online transactions because you don't need to have your identity linked to them, it's the best way to stay off the grid. This probably won't be possible for very long though.

Yes.  After Black Friday in 2011, my whole outlook on banks changed....It turned everything upside down for me and since that event, I've been avoiding banks like the plague.  Being able to play poker once again without the banking industry's interference is my predominate reason for adopting the bitcoin protocol.

[goinmerry]

I do not understand why some people pay for everyday purchases Bitcoins. For me it's the same as if I buy a bar of gold, and in any cafe will saw off pieces of gold instead of dollars. Bitcoin is an investment for me.

The main reason is because of anonymity, when you purchase something online with Bitcoin, you don't have to reveal your identity to anyone. For example people buying porn content might prefer to remain anonymous, if you pay with a credit card, your purchase is associated with your name and will show up in your statement.

Yes...for some people, in some situations, the pseudo-anonymity is important.  But, using bitcoin at, say, a coffee shop instead of using cash seems a bit eccentric....I mean, it's so much easier to hand over a couple dollars instead of carrying around a phone and swiping it for every small transaction I participate in throughout the day.  Isn't it?

Oh most definitely, for simple everyday purchases/transactions it's hard to beat cash plus cash is even more anonymous than Bitcoin. But right Bitcoin provides the most anonymity for online transactions because you don't need to have your identity linked to them, it's the best way to stay off the grid. This probably won't be possible for very long though.

Yes.  After Black Friday in 2011, my whole outlook on banks changed....It turned everything upside down for me and since that event, I've been avoiding banks like the plague.  Being able to play poker once again without the banking industry's interference is my predominate reason for adopting the bitcoin protocol.

Glad you did that. It is a big leap for sure but surely you are now avoiding the possibility that it can happen again.
I really got a bad thinking about banks. Why are they getting the very high percentage of the invested money which is people's money? They should give at least a better number of percentage than now which is too low. Just being thankful of having a profit without even using their own capital.  

This is also the reason I chose bitcoin. I will just have to educate myself in how I can manage it carefully.