Why have Bitcoin instead of cash?

[stadus]

Bitcoin is appreciating over time but cash isn't. Cash is subject to a wild inflation. Facts are here.

True, you can's trust cash as your investment because it will not give you that. Use only cash for your spending needs but do not keep all your holdings in cash, there's always a way which are bitcoins or buying gold as you investment.

Think of your future if you want to live a comfortable life because in this world we need to be smart and think always outside the box.

[FlamingFingers]

Actually, I'm holding and earning Bitcoins to covert them into cash as I can't spend any Bitcoin here(don't blame me, I'm in a country that knows nothing about Bitcoin!). Besides, Bitcoin fluctuates so fast(one hour, it worth 716.18$, the second, it worth 608.01$!!!), you can't depend on it as daily currency.

[vasrasus]

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.

5. There is no tax yet or charges in bitcoin.

We can transact buy anything that is available in bitcoin without worrying the tax ir could be. We can pay and send money to others without tax thats been too large sometimes when you have need to send money than in real life when we go in payment center/ or transaction center it will cost you amount that amount you can still send to the people you want.

[Navihawk]

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.

5. There is no tax yet or charges in bitcoin.

We can transact buy anything that is available in bitcoin without worrying the tax ir could be. We can pay and send money to others without tax thats been too large sometimes when you have need to send money than in real life when we go in payment center/ or transaction center it will cost you amount that amount you can still send to the people you want.

Only to a certain extent; the IRS just demanded records from Coinbase on all transactions since 2013, which suggests that they are going to be nailing a few people for tax evasion if anything comes up.

[deisik]

5. There is no tax yet or charges in bitcoin.

We can transact buy anything that is available in bitcoin without worrying the tax ir could be. We can pay and send money to others without tax thats been too large sometimes when you have need to send money than in real life when we go in payment center/ or transaction center it will cost you amount that amount you can still send to the people you want.

Only to a certain extent; the IRS just demanded records from Coinbase on all transactions since 2013, which suggests that they are going to be nailing a few people for tax evasion if anything comes up.

Why would anyone use Coinbase if they dealt with thousands of bitcoins? Though the IRS could be trying to trace some transactions which might or might not be linked to big whales looking for tax evasion, either by accepting or eliminating them from consideration. Besides, they could also be building a database of wallets and real people using these wallets, for future reference...

Anyway, using Coinbase may be a potentially risky business, especially if you are an American citizen

[markyminer]

Anyone from India now would be scared of cash due to demonetization and now everyone has understood how important virtual currency is. Now those who don't own debit cards also would realize its value and it would be the right time for our Government to adopt blockchain technology when so many people today are suffering due to cash. Bitcoins, unfortunately, are not adopted by our general stores but hopefully they use it for ease of cashless transactions.

The ones who will come to know about it would probably start using it if they are not card holders as you said, because it would be hard for them to keep the money if they don't have cards etc so bitcoin is the solution for them at the moment.

yes in fact most of the people do not know about the benefit of bitcoin and that is the reason that they do not like to use bitcoin, once they become aware of the benefit of bitcoin they will certainly start using bitcoin,

[Techie5879]

Its a decentralized one, and that means that governments alone cant change its value. It depends on the production, mining, mass adoption and usage of the bitcoins. Also, I think security and universal accessibility is a very good point mentioned by you and I support you.

[arseaboy]

Anyone from India now would be scared of cash due to demonetization and now everyone has understood how important virtual currency is. Now those who don't own debit cards also would realize its value and it would be the right time for our Government to adopt blockchain technology when so many people today are suffering due to cash. Bitcoins, unfortunately, are not adopted by our general stores but hopefully they use it for ease of cashless transactions.

The ones who will come to know about it would probably start using it if they are not card holders as you said, because it would be hard for them to keep the money if they don't have cards etc so bitcoin is the solution for them at the moment.

yes in fact most of the people do not know about the benefit of bitcoin and that is the reason that they do not like to use bitcoin, once they become aware of the benefit of bitcoin they will certainly start using bitcoin,

That's true mate. Bitcoins should be formally introduced worldwide so that more people will be much aware about it. Not only a good introduction but also the benefits that can give to them in short or even in long term investment.

[Mastsetad]

Anyone from India now would be scared of cash due to demonetization and now everyone has understood how important virtual currency is. Now those who don't own debit cards also would realize its value and it would be the right time for our Government to adopt blockchain technology when so many people today are suffering due to cash. Bitcoins, unfortunately, are not adopted by our general stores but hopefully they use it for ease of cashless transactions.

The ones who will come to know about it would probably start using it if they are not card holders as you said, because it would be hard for them to keep the money if they don't have cards etc so bitcoin is the solution for them at the moment.

Well i think they have still bank atm that can be still as their alternative mode of payment but yeah bitcoin can be good too to use as alternative but do you think many more people from india can voted bitcoin.? since many banks and other business there that can also be use as their alternative..

The ones who prefer banking systems would probably turn their faces to them now, but if there are people who does not like those systems like a lot of bitcoin users and they like keeping their money with them then they will surely prefer bitcoin as it is the only way available for them then.

[MWesterweele]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

[mirakal]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

[groll]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

[tabas]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

As of now, most of the stores are still not accepting bitcoins for they don't even have an idea of what bitcoin really is. But I do believe that in the future we will use bitcoins as primary currency or if not then another digital currency that is being regulated and governed by an agency of an international or local government.

[BlockEye]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

[danherbias07]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

It was way back when it suddenly fall down. We still need some emergency money so it is really different for me specially when establishments would still prefer cash on hand and that wont change for a long time.

[crairezx20]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

Bitcoin just use for alternative not for priority use.. cash still the main to be use bitcoin will not have a value if there is no cash or fiat.
Bitcoin is a digital currency that you can be use only for online payment processor.. many online payment processor but the problem is its more hassle than using bitcoin even you do not need to verify your walelt you can use it and transact online just like here in my country..

[tee-rex]

Why I have bitcoin instead of cash is because its easier and also more trust able if you ask me.
Plus you cannot also not lose it and its everywhere accessible.

Bitcoin is not yet that fully trustable and for me i'm going to choose cash instead of bitcoin since im earning my cash from bitcoin i have trust on bitcoin also im always trading bitcoin into fiat money it's really easy to exchange when we need money and if you lose money from  bank you can trace it not like bitcoin.

So what will happen to your earning if there's no bitcoin, I guess you will not be able to earn anymore. They have different purpose and actually there's no sense of choosing because we needed them both, bitcoin gives income and cash is we use to spend.

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

Exactly. Even if you hold a tons btc but you don't have any exchanger to fiat, itis just useless, because bitcoin is not a fiat and it will have no value if you didn't convert it to cash.
At the end of the day. We are all just ended up here at fiat.

I beg to differ. While you can't yet buy many things with bitcoins directly, people have been selling houses for bitcoins while other people have been buying them without conversion to fiat beforehand. There already seem to be numerous Bitcoin markets for various things, especially if transaction speed is not an issue but value is high. In the end it all boils down to wider Bitcoin adoption.

[Mastsetad]

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

It is probably not the time when we should just have bitcoins but no cash at all because right now bitcoin is not that much established that we could use bitcoin everywhere like cash, so probably we need cash for daily needs and bitcoins to be kept for future.

[Ziskinberg]

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

It is probably not the time when we should just have bitcoins but no cash at all because right now bitcoin is not that much established that we could use bitcoin everywhere like cash, so probably we need cash for daily needs and bitcoins to be kept for future.

It's too risky to put all our money in bitcoin, you are right we are still living daily and daily we need cash to end our day surviving, bitcoin has not even hit a good adoption rate so it's not advisable to rely on it. It's good as investment for now and we just have to watch it grow first.

[tee-rex]

Bitcoins is just an alternative way of paying, but that doesnt mean that we will forget the physical money!come on!yes, bitcoins was also money, but lets face it, not all business establishment are accepting bitcoins. Cash is more needed than bitcoins because you can buy anything with cash. But i think its better to have them both!bitcoins for online transaction and cash for establishment.

It is probably not the time when we should just have bitcoins but no cash at all because right now bitcoin is not that much established that we could use bitcoin everywhere like cash, so probably we need cash for daily needs and bitcoins to be kept for future.

It's too risky to put all our money in bitcoin, you are right we are still living daily and daily we need cash to end our day surviving, bitcoin has not even hit a good adoption rate so it's not advisable to rely on it. It's good as investment for now and we just have to watch it grow first.

Bitcoin is like gold. Not very useful in everyday life, apart from jewelry, but still a promising store of value. It seems that it will be used mostly along this line in the near future, as it is now. I can't imagine it being used as anything other than a store of value and a speculative asset even if it can be used with the same ease as cash or plastic money.

Cash is here to stay too for now.